research methodoly for reliance project.docx

3. RESEARCH METHODOLOGY

OBJECTIVE:- In this dynamic environment in which the companies have to survive and operate, it becomes very crucial to hire appropriate people and retain them. My objective in this project was to understand the recruitment and selection process under Reliance Money (Securities and Commodities) and the post selection behavior among the new employees and the organization.

METHOD USED: ( Observation method)While my internship I got the opportunity to be present physically in the interviews being conducted and observe the various questions being asked there. Though the best part in human resource is that it is very dynamic and hence there cant be used a fixed set of questions to all the candidates. But I am trying to classify the most frequent questions that have been asked.These questions are divided into two broad classification i.e. telephonic interview and personal interview.

QUESTIONS IN TELEPHONIC INTERVIEW(Note: all the candidates who were shortlisted were having either job experience or were presently working somewhere.)1. Presently where are you working?2. May I know your job profile there?3. Why do you want to leave your job?4. (Telling him the job designation and then asking) what do you understand about the job profile?/ what kind of profile you are looking for?5. What was your target in your present company?6. What is your target achievement rate?7. If you get selected then how soon can you join?

QUESTIONS IN PERSONAL INTERVIEW (Note: many candidates who appeared for the interview were coming from references)1. How do you know Mr./ Ms. XYZ (the referrer)?2. Asking about the educational background.3. Asking about the family background.4. What kind of job you are looking for?5. Do you have any experience in (sales) the related job profile?6. Why do you left /want to leave your present job?7. What were you doing after you left your job?

During my internship, 16 new employees were selected. I was a part of the entire process since the inception of their recruitment and their final selection. Along with this I was assigned a task to call/ email them to check their responses under the Buddy feedback system . The lists of the candidates are as follows:

s.noEmployee nameBranch locationContact no.

1Saugata MukherjeeKolkata AC-market9002442129

2Jyotirmoy MukherjeeKolkata AC-market9434474676

3Mithun PatnaikBhubaneshwar - Lewis road9938829927

4Pawan Kumar VermaRanchi9504901190

5Sourabh Kumar SinghPatna Frazer Road9334396348

6Dharmendra KumarPatna Frazer Road9162866102

7Sarfraz AhamedBhubaneshwar - Lewis road9238321537

8Parvindra RaiKolkata AC-market9088647910

9Santosh Kumar ThakurRanchi9835113020

10Rajendra Kr. SethiBhubaneshwar Rasulgarh9861521155

11Anil Kr. SahuBhubaneshwar Rasulgarh9439159949

12Ravi KumarPatna Frazer Road7858917367

13Viswajeet KumarPatna8877732444

14Samarpita chatterjeeKolkata tollygunje9674333346

RECRUITMENT PROCESSPERSONAL HUMAN RESOURCE PLANNINGRECRUITING NEEDED PERSONNELSELECTING QUALIFIED PERSONNELPLACING NEW EMPLOYEES ON JOBDEVELOPING SOURCES OF POTENTIAL EMPLOYEESSEARCH FOR POTENTIAL EMPLOYEESEVELUATING RECRUITING EFFECTIVENESSINTERNAL SOURCES PERSONNEL RESEARCH JOB POSITIONINGUPGRADING IN SAME POSITIONTRANSFERRING TO NEW JOBPROMOTION TO HIGHER RESPONSIBLITIESSCOUTING ADVERTISINGEMPLOYEE REFERRALSEVALUATING FOR SELECTIONEXTERNAL SOURCES

RECRUITMENT PROCESSSTEP 1: MANPOWER PLANNING. AOP (Annual Operating Plan), this process is taken up every year. This list provided from the top management.STEP 2: SOURCING ACTIVITY. There are three types of sourcing done at Reliance. After the resumes of candidates are chosen then the same is sent to the HR departmental head where the vacancy arises. The department head will then shortlist the same and they ask the HR department to fix an interview with the selected candidates. There are two type of interview which is taken up at Reliance, firstly the Functional interview and then the Functional Head and HR Head takes the interview. INTERNAL SORCING Employee Reference Re-employment of former employee EXTERNAL SOUCING Placement Consultant. Job Portals - NAUKRI.COM Campus RecruitmentSTEP 3: APPROVAL PROCESS The Zonal HR takes either the telephonic interview or face to face interview. The first round interview is taken by the Branch Head (BH) if the Zonal HR manager is not present there. If the candidate is selected then his salary is negotiated. If both the side agrees over the CTC(cost to company) then his offer letter is issued. Then the candidate is asked to fill the online joining form. After 48 hours of joining the SAP ID (employee ID) is generated. AVERAGE TIME PERIOD: The process of recruitment takes about 10 15 daysELIGIILITY CRITERIA: Education Qualification At least graduation with any specialization Not frequent job changes Preferable tenure of last job should at least be 1.5 2 years in the relevant sector. OTHER REQUIREMENTS: Reference check is usually done for all level jobs. The recruitment may differ with the current position of the business but the candidate should have some relevant experience. In case of fresher, they must have strong willingness and potential for that particular job profile.

INTERNAL SOURCING

In the event of an open position in Reliance Money, suitable candidates are first searched internally within the organization. This is based upon in-house talent which could be redeployed.

Advertisement for internal vacant position is done by following two ways:

Floating the vacant position on the intranet of RELIANCE (i.e. Planet Money. ) Through taking telephonic references from the required branch.

Employees of Reliance Money who have completed more than 12 months of continuous service can only apply for higher positions placed on Intranet-IJP(internal job posting).EMPLOYEE REFERENCE: In Reliance Money, Employees can refer a candidate with whom he/ she have worked in his/ her previous employment. Employees can check available vacancies on Intranet and can submit the resumes of prospective candidates who fit the Job profile.

RE-EMPLOYMENT OF FORMER EMPLOYEE: Re Hiring of an employee done in Reliance Money with a view to take trained manpower back in the company. Re Hiring is done as per the policy issued by Central Recruitment Cell at Corporate Office EXTERNAL SOURCINGPLACEMENT CONSULTANCY: The placement agencies call for resumes of prospective candidates, which act as a good source of recruitment for the companies. Consultant interview candidates and shortlist those according to the criteria laid down by the companies. This helps the employer to interview a limited number of potential candidates, the minimizing the time taken in receiving and sorting applications, etc.

Reliance Money chooses Consultants having national presence. This sourcing option is only considered by the company when there is scarcity for candidates with requisite experience and skills.

JOB PORTAL: The spread of Internet has enabled employers to search for candidates globally and has made recruitment easier. If vacancy arises, Reliance Money browses the profile of candidates from the Job portal like naukri.com and then candidates are accessed through e-mail or telephone.

CAMPUS RECRUITMENT: Reliance Money goes for Campus recruitment every year for technical department. For management level recruitment, it goes for campus recruitment as per requirement. 7.SELECTION PROCEDURE

INTERVIEWInterview is the oral assessment of the candidates for employment. This is the most essential step in the selection process. In this step the interviewer matches the information obtained about the candidate through various means to the job requirements and to the information obtained through his own observation during the interview. Interview gives the recruiter an opportunity: To ask questions that are not covered in tests To make judgments on candidates enthusiasm and intelligence. To assess subjective aspects of the candidate facial expressions, appearance, nervousness and so forth. To give facts to the candidate regarding the company, the policies, programs, etc. and promote goodwill towards the company.

MODE OF INTERVIEW PERSONAL INTERVIEW: Personal Interview is a formal in-depth conversation conducted to evaluate the applicants acceptability. In a personal interview, candidates are accessed on behavioral and personality characteristics, functional and managerial competencies and other factors like education, experience etc. Based on the candidates performance in the interview, the interview panel rates the candidate and takes the selection decision.

TELEPHONIC INTERVIEW: There are various reasons to take a telephonic interview. For example, in certain location Reliance Money does not have its local branch, so in that case the interview of that candidate will be taken over telephone. Even if the interview of a candidate cannot happen through video conference because of unavailability of any Web network, then telephonic interview is taken.

CAMPUS RECRUITMENT: Interview is taken by respective functional head and HR head in the colleges and B-Schools whenever a there is a need to acquire talent and stock it for future use. REFERENCE CHECK

Once the hiring decision is taken, the candidate is contacted and informed about the decision to conduct a reference check with the referees whose names have been provided in the Background Verification form.

Many employers request names, addresses and telephone numbers of references for the purpose of verifying information and perhaps gaining additional background information on an applicant.

References are checked for following reasons: To check whether or not the applicant was truthful about his or her employment history (integrity issues). To know weaknesses, strengths of the applicant.

SELECTION DECISION

After obtaining information through the preceding steps, selection decision is to be made.

The other stages of selection process have been used to narrow the number of candidates. The final decision is to be made from the pool of individuals who pass the tests, interviews.

Selection procedure block diagram

EMPLOYEE REMUNERATION

Remuneration is the compensation receives in return for the contribution of the employee to the organization.

Reliance Money n follows the cost to company (CTC) structure that reflects the total cost of an employee to an organization. It is designed to provide flexibility to an employee to structure their benefit package.

PHILOSOPHY OF CTC

Within the committed salary of an employee, provide maximum flexibility to an employee Cost all perquisites and benefits to an employee and make the employee appreciate the total costs incurred by the company on such benefits Enable the company realize and recognize the hidden payroll costs incurred on such benefits

Why CTC is divided in two parts?

As per the Indian Income Tax Rules the total Basic Salary paid to the employee is taxable.PLI (PERFORMANCE LINKED INCENTIVE)

Some percentage on Fixed CTC would be would the base figure for PLI. Normally PLI is paid once in a year depending on his performance during the assessment period.

The following are the main components to CTC structure. The CTC structure includes costing of all components of Compensation and Benefits an employee is entitled to.

BASE PAY

This constitutes up to 40% of the total annual compensation and it includes

Basic Salary Employers contribution to the PF @ 12% of basic salary Employers contribution to the companys gratuity fund @ 4.81% of basic salary

PROVIDENT FUNDProvident fund is to provide Social Security Benefit to the employee after retirement. PF is deducted from the first day of employment. The Company deducts 8.75% of the employees basic salary and makes an equal contribution. The employee can take loans for specific purposes against his/her provident fund accumulation.

GRATUITY

Under the Scheme Company contributes 4.81% of Basic Salary of an employee to the Gratuity Fund. Employees who have completed 5 years continuous service with the company are eligible to get gratuity on separation from the company. In case of death, the minimum service requirement of 5 years does not apply. For calculating Gratuity, periods of service greater than 6 months will be considered as equivalent to 1year and less then 6 months will not be counted.

As per Income Tax Rules, Gratuity is not taxable up to 3, 50,000 /- . Any amount paid in addition to 3, 50,000 /- will attract tax. All employees who have completed 1 year continuous service with the company are eligible to get gratuity on separation from the company.

CHOICE PAY

This constitutes up to 60% o the total annual compensation and it includes

Leave Travel Allowance Company Leased Car Children Education Allowance Conveyance Allowance Medical Expense House Rent Allowance

COMPANY LEASED HOUSE

Company will arrange the house through an authorized real estate agent as per the choice of the employee. Security deposit by company. 12% percent Interest will be charged on deposit amount. The same will be debited in CTC. Rent would be exempted from income tax. 10% Perquisite Tax would be charged to the employee on his taxable income.

COMPANY OWNED ACCOMODATION

No deposit no interest. Rent would be calculated @ 11 rupees per Square feet. Monthly rental would be charged to CTC Rental Amount will be exempted from tax 10% perquisite tax would be charged on employee. Security Deposit HRA House Rental Allowance HRA can be maximum 40% of Basic Salary. Deposit and rent has to be paid by employee by self To get the tax exemption the employee has to produce the rental agreements and rental receipts of the house. The employee cant claim this benefit if He/She has his own house.

LTA - LEAVE TRAVEL ALLOWANCE

An Employee can block two months of Basic Salary as Leave Travel Allowance. He/She should take a minimum of 5 days leave (PL). In case of air travel-economy class fare is exempted and in case of rail travel second class AC fare is exempted. He/She can travel within India only. He/She has to produce the original travel tickets.

CAR

Company will arrange a car through a car lease agency. Employee can choose any make/model. The EMI that will be charged would be Rs. 2095/- per Lac per month. The EMI amount per Annum would be exempted from Income Tax.

CHILDREN EDUCATION ALLOWANCE

Employee can claim exemption Rs. 2400 per year. This exemption is restricted up to two children. To pass the claim Employee has to submit the original bills. To get this benefit child age should be greater then 3.5 years. CONVEYANCE ALLOWANCE

If the employee is not using companys car then and only then he can claim this option. To getting the exemption bills are not required.

MEDICAL ALLOWANCE

The employee gets an exemption of Rs. 15000 p.a. But to get exemption the employee must submit original bills.

HOUSE RENT ALLOWANCE

Maximum 40% of basic salary can be calculated as HRA. But if employee owns the house in another state then he/she can ask for HRA and also opt for Company Leased House.

LEAVES

There are two types of leaves available for the employees.

Paid Leave Earned Leave

PAID LEAVE

There are 30 days PL available with the employee after the conformation. The PL is available after 180 days from the date of joining.The employee can take only 3-5 PL at a single time.9. FORMS & LETTERS REQUIRED IN THIS PROCESS

1) Welcome Letter.2) Fitment sheet3) Offer documents CV Photo copy of Mark-sheets Address proof Pan card copy Appointment letter of last 2 companies. Last companys last 3months salary slip. 4) Background Verification Form INDUCTION

Induction is also called orientation, which is designed to provide a new employee with the information he or she needs to function comfortably and effectively in the organization.

INDUCTION PROGRAM (PARICHAY)

The Human Resources Department structures an appropriate induction program to orient the new employees to various businesses and services at Reliance Money.A five-day Induction program is offered to all new employees. The induction program helps the employee to integrate in the new environment and provide an overview of the Organization as a whole. It also provides an opportunity to the new entrant to engrain the original values and ethics as well as the style of functioning.

This program is all about: Developing a shared understanding of Reliance Moneys vision and mission. Understanding their organization and business model. Familiarization with leaders at Reliance Money. Networking and integrating with Reliance Moneys employees.

This program provides information on: The history of reliance group The fundamentals of Capital business Introduces technologies and key concepts of the business. This program shares the companys strategic objectives, organization structure and processes and systems. Presentations are made from representatives from various business units and functions.

11. DEPUTATION & TRANSFER

TRANSFERBusiness needs may be required an employee to be transferred on permanent basis One circle to another circle One location to another location

Departmental head initiates the request for transfer of an employee and forwards the same to the circle HR Representative. Employee will receive transfer letter from Circle HR Representative of the primary circle/location.

SEPARATIONReliance Money believes in treating all employees separating from the company with utmost dignity.

RESIGNATIONResignation means employee voluntarily leaving the services of company either for professional or personal reasons. Employees must serve a written resignation, mentioning the relieving date to his/ her departmental head that will discuss and obtain the approval of the zonal head. The accepted copy of resignation letter with the approved relieving date must be forwarded to the respective HR.

Confirmed employees are required to give 1 month notice in advance and employees on probation are required to provide 15 days notice in advance.

JOB ABANDONMENTIf an employee remains absent without leave or remains absent beyond the period of leave originally granted, he shall be considered as having voluntarily terminated his/ her employment without giving any notice unless he/ she:Returns to work within 8 days from the commencement of such absence.The employee gives an explanation to the satisfaction of the management regarding such absence.

TERMINATIONTermination is an undesirable outcome for employee as well as the company, but may be necessary if the employee Violates the company policy Is unable to meet companys performance standards

EXIT INTERVIEWAn exit interview is typically a meeting between at least one representative from a company's human resources (HR) department and a departing employee. The departing employee usually has voluntarily resigned. The HR representative might ask the employee questions while taking notes.

Prior to leaving, an exit interview is conducted to gather feedback and recommendations of the outgoing employee. Exit interview is a one-to-one discussion where voluntary views and suggestions are taken from the outgoing employee on what his/ her expectations had been at the time of joining the company and reason for leaving the company. The circle HR arranges the exit interview.Listed below are some of the exit interview questions that Reliance Communication asks to departing employees in Exit interview.

To what extent did he/ she expect to experience following features of work at the time of joining the company Job security Career prospects Good compensation Self development Welfare Operational freedomTo what extent did he/ she find that features of work in the company. Reasons for leaving the company in terms of relevance Personal Professional growth related Lack of challenge in work Lack of promotional opportunities

Overall opinion about company, how much hike and other benefits offered by new company compare the one he/she is leaving, and is he/ she is interested in rejoining the Reliance Money and on what conditions are collected.

FULL & FINAL SETTLEMENTWhen the employee leaves his/her job it is required that all his/her financial obligations are settled. Financial obligations like: Outstanding Advances/loans Any undertakings he/she has given to the company in terms of Cost of mobile as per company policy Opting for company lease car Or any other undertaking given by him/her

And turn in his/her identification cards, key and any other property, which he/she had issued. The full & final amount is paid to employee after recovering all advance/outstanding dues.

12. HR SUPPORT SYSTEM

SAP HR

The Reliance ADA group is on the move to e-enable all HR functions and the employee interface. We are in the process of adopting state-of-the art ERP software - SAP, across all locations and businesses. As a service to the most valuable assets, i.e. the employees, the Group HR is upgrading its extensive web-enabled services into an internet enabled employee portal which will enable employees from across the country to interact with HR & Payroll for any requirement i.e. applying for and sanctioning leave, information on policies and procedures, entering expense claims, updating their own databases, etc.

ESS (EMPLOYEE SELF SERVICE) / (EMPLOYEE SUPPORT SYSTEM)

ESS will enable you to interact with the SAP database, to view and maintain your personal data. ESS provides you with a host of services in the following areas.

PERSONAL INFORMATION

Employee can view and update their personal data such as Educational details Details of previous employers Family related information Change of marital status Change of residential address etc.

PAYROLL RELATED INFORMATION Employee can view their monthly updates on the following: Pay slips Income tax projections PF Statements REIMBURSEMENTEmployee can submit their claims of following reimbursement online Telephone bills Local conveyance Medical reimbursement