HDFC HR Practice
Post on 17-Jan-2016
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HDFC HR Practices
About the Company
Premier housing finance Company in the country
Incorporated in 1977 and Founded by Late, H T Parekh Deepak Parekh – Chariman Keki Mistry –CEO, Vice-Chairman Renu Karnad – Managing Director
Over 330 Branches across the country and 7 International Branches
Cumulative loan approvals as on Mar 31 2014: Rs 681,872 Crs
A strong Asset Base of over Rs.2.97 trillion
Overall Organization Structure (Business Verticals / Regions)
HDFC Bank HDFC LifeHDFC Asset
Management Company
HDFC Ergo
HDFC Venture
Fund
Credila Financial Services
HDFC Sales Pvt Ltd
GRUH Finance Ltd
HDFC Ltd
HDFC Realty
HR Function / Vertical – Organization Structure
MD
LearningDevelopment
Employee Welfare
TalentAcquisition
Medical And travel
Reimbursement
VehicleLoan
HomeLoans
Branch Cordinator
Talent Acquisition (Recruitment & Selection)
The recruitment process is entirely done through the following
methods
Campus Recruitment
National Competitions
Job postings on Company Website
Internal Referral
Selection Process – Entry Level
Campus Selection/ Shortlisting of Candidate
Recruitment Interview/
Member of Executive Management/ Branch Head Interview
OfferLetter
The process mentioned if for Grade XIV to Grade IX
Talent Management (Performance, Career & Competence Management) Performers are identified right from the grass root level and
nurtured in various roles
The selected candidates undergo job rotation to understand working of different departments of the organisation
Performers are also sent on International Training to excel in various Managerial Skills
Personality development sessions are also carried out to groom the talent for bigger responsibilities to be undertaken at a future point in time
Performance
Performance matrix – “KRA” is used to measure performance of employees over the year
KRA is carried out once a year
Example – for a employee in Corporate Sales he would be graded on the basis of , New Business Creation Number of Activities done Mentoring/ Support Roles Performed to Juniors Team Bonding Activities Done
KRA
Learning & Development
All employees are inducted through a brief induction training and followed up with a year long on the job training
CHF, Centre for Housing Finance is a of the art training facility situated near Mumbai
The centre provides a rigorous training stretching for a fortnight. The training includes in depth study of various functions with in the firms right from administration to treasury
The individual is assessed throughout the training and a feedback sent back to the respective Regional Head
The process assists the recruits in understanding the process, gives an in depth product ‘knowledge and blend into the organizational learning culture of 'learning by doing’
Total Rewards (Compensation & Benefits)
Compensation is on the basis on grade the employee belongs to
There are a total of 14 Grades within the organization with Grade 1 being the highest
Incremental Salary Hike of an average 10 to 15% YoY
Designation Min Max
Senior Officers(Entry Level)
300000 350000
Management Trainee
400000 550000
Assistant Manager 550000 750000
Benefits
Employee home loans at a subsidized rate
Free medical and health check up for employees
Projects /Homes are identified for employees
Scholarships for children of employees
Talent Retention (Employee Engagement Initiatives)
The company focuses on providing long term wealth creation through ESOPS
Regular job rotation mitigating the monotony factor and also providing an overall business perspective
Employees are trained in various departments and functions which helps them nurture and enhance personal skill sets like negotiations skills, managerial skills, people management skills and so on
Performers are also sent on International Assignments
Unique HR Practices
The company incorporates an open door culture
Whistle Blower Policy
Grievance Readressal Forum,- which is a forum focusing on
attending to issues/ concerns faced in any department. The
issues/ concerns are addressed right from the root level and issue
specific solutions provided
Comparison of HR Practices with Industry Best Practices in the region Regular Staff Meetings:Staff meeting are carried out twice a week by Branch Coordinators so as to better understand the difficulties faced by employees during their day to day work. This report is then sent to the HR manager once a month so that suitable steps can be taken up. Mentorship Programme:HDFC Ltd boasts of world renowned leaders heading the organisation , and mentoring is given huge importance so that there is a smooth transition from the baby bloomers to millennials Rigorous Recruitment Process: HDFC has a very rigorous recruitment process to maintain high standards of work culture and employee productivity Employee Retention Steps:HDFC one of the best employee retention rate in the industry , this is attributed by the employee welfare programs and work culture implemented within the company.
Gaps & Recommendation
LEVEL OF ATTRITION – over the past few years the level of attrition has gone up . This is attributed to the fact that the recruitment now focuses on young blood and are moving on from baby boomers.
Employee satisfaction surveys can be used to measure satisfaction level of employees. This can be used to improve the employee satisfaction and hence in talent retention.
Ergonomic design of workplaces will help to improve the productivity of employees.
HDFC limited site official website does not have Mission and Vision statement. We recommend the inclusion of Mission and Vision statement in website.
HDFC limited is company with legacy. The company stories could be used to motivate and inform the new employee about HDFC Limited.
Project Methodology
The project was majorly carried out through Primary Research Contact Person :
Mathews.CherickalBusiness Development Manager / People Engagement Chennai Regionmathewsmc@hdfc.com+91 9884971557
THANK YOU!
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