INDEXSr. No.TITLEPage No.
1COMPANY PROFILE ICICI BANK2
2HISTORY OF ICICI BANK3-9
3INTRODUCTION TO HR POLICIES OF ICICI BANK9-17
4RESPONSIBILITIES OF HUMAN RESOURCE DEPARTMENT18-22
5SWOT ANALAYSIS OF ICICI BANK23-24
6QUESTIONNAIRE25-26
7RESULTS, DATA ANALYSIS & DISCUSSIONS27-34
8FINDINGS & RECOMMENDATIONS35
9CONCLUSION36
10BIBLIOGRAPHY38
COMPANY PROFILE ICICI BANK
ICICI Bank was established by theIndustrial Credit and
Investment Corporation of India (ICICI), an Indian financial
institution, as a wholly owned subsidiary in 1994. The parent
company was formed in 1955 as a joint-venture of theWorld Bank,
India's public-sector banks and public-sector insurance companies
to provide project financing to Indian industry.The bank was
initially known as theIndustrial Credit and Investment Corporation
of India Bank, before it changed its name to the abbreviatedICICI
Bank. The parent company was later merged with the bank.ICICI Bank
launched internet banking operations in 1998..ICICI's shareholding
in ICICI Bank was reduced to 46percent, through a public offering
of shares in India in 1998, followed by an equity offering in the
form ofAmerican Depositary Receiptson theNYSEin 2000. ICICI Bank
acquired theBank of MaduraLimitedin an all-stock deal in 2001 and
sold additional stakes to institutional investors during 2001-02.In
the 1990s, ICICI transformed its business from a development
financial institution offering only project finance to a
diversified financial services group, offering a wide variety of
products and services, both directly and through a number of
subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become
the first Indian company and the first bank or financial
institution from non-Japan Asia to be listed on the NYSE..In 2000,
ICICI Bank became the first Indian bank to list on the New York
Stock Exchange with its five million American depository shares
issue generating a demand book 13 times the offer size.In October
2001, the Boards of Directors of ICICI and ICICI Bank approved the
merger of ICICI and two of its wholly owned retail finance
subsidiaries, ICICI Personal Financial Services Limited and ICICI
Capital Services Limited, with ICICI Bank. The merger was approved
by shareholders of ICICI and ICICI Bank in January 2002, by theHigh
Court of Gujaratat Ahmedabad in March 2002 and by the High Court of
Judicature at Mumbai and the Reserve Bank of India in April
2002..In 2008, following the2008 financial crisis, customers rushed
to ICICI ATMs and branches in some locations due to rumours of
adverse financial position of ICICI Bank. The Reserve Bank of India
issued a clarification on the financial strength of ICICI Bank to
dispel the rumours..
HISTORY OF ICICI BANK
1996: SCICI Ltd. A diversified financial institution with
headquarters in Mumbai1997: ITC Classic Finance. Incorporated in
1986, ITC Classic was a non-bank financial firm that engaged in
hire, purchase, and leasing operations. At the time of being
acquired, ITC Classic had eight offices, 26 outlets, and 700
brokers.1998: Anagram Finance. Anagram had built up a network of
some 50 branches in Gujarat, Rajasthan, and Maharashtra that were
primarily engaged in retail financing of cars and trucks. It also
had some 250,000 depositors.2001:Bank of Madurai2002:
TheDarjeelingandShimlabranches ofGrindlays Bank2005:
Investitsionno-Kreditny Bank (IKB), a Russian bank2007: Sangli
Bank. Sangli Bank was a private sector unlisted bank, founded in
1916, and 30% owned by the Bahte family. Its headquarters were in
Sangli inMaharashtra, and it had 198 branches. It had 158 in
Maharashtra and 31 inKarnataka, and others in Gujarat, Andhra
Pradesh, Tamil Nadu, Goa, and Delhi. Its branches were relatively
evenly split between metropolitan areas and rural or semi-urban
areas.2010: TheBank of Rajasthan(BOR) was acquired by the ICICI
Bank in 2010 for30billion. RBI was critical of BOR's promoters not
reducing their holdings in the company. BOR has since been merged
with ICICI Bank.
ICICIs role in Indian financial infrastructure.The bank has
contributed to the set up of a number of Indian institutions to
establish financial infrastructure in the country over the
years;National Stock Exchange - TheNational Stock Exchangewas
promoted by India's leading financial institutions (including ICICI
Ltd.) in 1992 on behalf of the Government of India with the
objective of establishing a nationwide trading facility for
equities, debt instruments and hybrids, by ensuring equal access to
investors all over the country through an appropriate communication
network.Credit Rating Information Services of India Limited
(CRISIL) - In 1987, ICICI Ltd along withUTIset upCRISILas India's
first professionalcredit rating agency. CRISIL offers a
comprehensive range of integrated products and service offerings
which include credit ratings, capital market information, industry
analysis and detailed reports.[19]National Commodities and
Derivatives Exchange Limited -NCDEXis an online multi-commodity
exchange, set up in 2003, by ICICI Bank Ltd, LIC,NABARD, NSE,Canara
Bank, CRISIL, Goldman Sachs,Indian Farmers Fertiliser Cooperative
Limited(IFFCO) andPunjab National Bank..Financial Innovation
Network and Operations Pvt Ltd. - ICICI Bank has facilitated
setting up of "FINO Cross Link to Case Link Study" in 2006, as a
company that would provide technology solutions and services to
reach the underserved andunderbankedpopulation of the country.
Using cutting edge technologies likesmart cards,biometricsand a
basket of support services, FINO enables financial institutions to
conceptualise, develop and operationalise projects to support
sector initiatives inmicrofinanceand livelihoods..Entrepreneurship
Development Institute of India -Entrepreneurship Development
Institute of India(EDII), an autonomous body and not-for-profit
society, was set up in 1983, by the erstwhile apex financial
institutions like IDBI, ICICI, IFCI and SBI with the support of
theGovernment of Gujaratas a national resource organisation
committed to entrepreneurship development, education, training and
research..Asset Reconstruction Company India Limited - Following
the enactment of the Securitisation Act in 2002, ICICI Bank
together with other institutions, set up Asset Reconstruction
Company India Limited (ARCIL) in 2003, to create a facilitative
environment for the resolution of distressed debt in India. ARCIL
was established to acquire non-performing assets (NPAs) from
financial institutions and banks with a view to enhance the
management of these assets and help in the maximisation of
recovery. This would relieve institutions and banks from the burden
of pursuing NPAs, and allow them to focus on core banking
activities..Credit Information Bureau of India Limited - ICICI Bank
has also helped in setting upCredit Information Bureau of India
Limited(CIBIL), India's first national credit bureau in 2000. CIBIL
provides a repository of information (which contains the credit
history of commercial and consumer borrowers) to its members in the
form of credit information reports. The members of CIBIL include
banks, financial institutions, state financial corporations,
non-banking financial companies, housing finance companies and
credit card companies.Institutional Investor Advisory Services
India Limited (IiAS) - ICICI Bank has indirectly invested
inInstitutional Investor Advisory Services, through ICICI
Prudential Life Insurance Company, in IiAS. IiAS is a voting
advisory firm akaproxy firm, dedicated to providing participants in
the Indian market with data, research and commentary. It provides
recommendations on resolutions placed before shareholders of over
300 companies.
INTRODUCTION TO HR POLICIES OF ICICI BANK
The human resources are the most important assets of an
organization. The success or failure of an organization is largely
dependent on the caliber of the people working therein. Without
positive and creative contributions from people, organizations
cannot progress andprosper. In order to achieve the goals or the
activities of an organization, therefore, they need to recruit
people with requisite skills, qualifications and experience. While
doing so, they have to keep the present as well asthe future
requirements of the organization in mind. DEFINITIONSRecruitment is
defined as, a process to discover the sources ofmanpower to meet
the requirements of the staffing schedule and toemploy effective
measures for attracting that manpower in adequatenumbers to
facilitate effective selection of an efficient workforce. EdwinB.
Flippo defined recruitment as the process of searching for
prospectiveemployees and stimulating them to apply for jobs in the
organization.Recruitment is a linking function-joining together
those with jobs to filland those seeking jobs. It is a joining
process in that it tries to bringtogether job seekers and employer
with a view to encourage the former toapply for a job with the
latter.Once the required number and kind of human resources are
determined, the management has to find the places where the
required human resources are/will be available and also find the
means of attracting them towards the organization before selecting
suitable candidates for jobs. All thisprocess is generally known as
recruitment. Some people use the term Recruitment for employment.
These two are not one and the same. Recruitment is only one of the
steps in the entire employment process. Some others use the term
recruitment for selection. These are not the same either.
Technically speaking, the function of recruitment precedes the
selection function and it includes only finding, developing the
sources of prospective employees and attracting them to apply for
jobs in an organization, whereas the selection is the process of
finding out the most suitable candidate to the job out of the
candidates attracted (i.e., recruited).Formal definition of
recruitment would give clear cut idea about the function of
recruitment.
In order to attract people for the jobs, the organization must
communicate the position in such a way that job seekers respond. To
be cost effective, the recruitment process should attract qualified
applicants and provide enough information for unqualified persons
to self-select themselves out. Thus, the recruitment process begins
when new recruits are sought and ends when their applications are
submitted. The result is a pool ofapplicants from which new
employees are selected.
PURPOSES AND IMPORTANCEThe general purpose of recruitment is to
provide a pool of potentiallyqualified job candidates.
Specifically, the purposes are to:Determine the present and future
requirements of the organizationin conjunction with its
personnel-planning and job-analysisactivities.Increase the pool of
job candidates at minimum cost.Help increase the success rate of
the selection process by reducingthe number of visibly, under
qualified or overqualified jobapplicants.Help reduce the
probability that job applicants, once recruited andselected, will
leave the organization only after a short period oftime.Begin
identifying and preparing potential job applicants who willbe
appropriate candidates.Induct outsiders with a new perspective to
lead the company.Infuse fresh blood at all levels of the
organization.Develop an organizational culture that attracts
competent people tothe company.Search or head hunt/head pouch
people whose skills fit thecompanys values.Devise methodologies for
assessing psychological traits.Search for talent globally and not
just within the company.Design entry pay that competes on quality
but not on quantum.Anticipate and find people for positions that do
not exist yet.Increase organizational and individual effectiveness
in the shortterm and long term.Evaluate the effectiveness of
various recruiting techniques andsources for all types of job
applicants. Recruitment represents the first contact that a company
makes withpotential employees. It is through recruitment that many
individuals will come to know a company, and eventually decide
whether they wish to work for it. A well-planned and well-managed
recruiting effort will result in high-quality applicants, whereas,
a haphazard and piecemeal effort will result in mediocre ones.
High-quality employees cannot be selected whenbetter candidates do
not know of job openings, are not interested in working for the
company and do not apply. The recruitment process should inform
qualified individuals about employment opportunities, create a
positive image of the company, provide enough information about the
jobs so that applicants can make comparisons with
theirqualifications and interests, and generate enthusiasm among
the best candidates so that they will apply for the vacant
positions. The negative consequences of a poor recruitment process
speakvolumes about its role in an organization. The failure to
generate an adequate number of reasonably qualified applicants can
prove costly in several ways. It can greatly complicate the
selection process and may result in lowering of selection
standards. The poor quality of selection means extra cost on
training and supervision. Furthermore, when recruitment fails to
meet the organizational needs for talent, a typical response is to
raise entry-level pay scales. This can distort traditional wage and
salary relationships in the organization, resulting in avoidable
consequences. Thus, the effectiveness of a recruitment process can
play a major role in determining the resources that must be
expended on otherHR activities and their ultimate success.
SUB-SYSTEMS OF RECRUITMENTThe recruitment process consists of
the following four sub-functions:-Finding out and developing the
sources where the required numberand kind of employees will be
available.Developing suitable techniques to attract the desirable
candidates.Employing the techniques to attract
candidates.Stimulating as many candidates as possible and asking
them to apply for jobs irrespective of the number of candidates
required.
1. The Industrial Credit and Investment Corporation of India
Limited. In 1995, it was incorporated as the initiative of World
Bank. Objective: Creating a development financial institution for
providing medium term and long term projects financing to Indian
Business. In 1994, ICICI established Banking Corporation as a
Banking Subsidiary which was later renamed as ICICI Bank
Limited.2.In the 1990s, ICICItransformed its business from In
October 2001, the BOD of a development financial In 1999, ICICI
become ICICI and ICICI Bank institution offering only the first
Indian company approved the merger of project finance to a ICICI
and two of its wholly- and the first bank or diversified financial
services owned retail finance group offering a wide variety
financial institution subsidiaries, ICICI Personal of products and
from non-Japan Asia to Financial Services Limited services, both
directly and be listed on the NYSE. and ICICI Capital Services
through a number of Limited, with ICICI Bank. subsidiaries.3. The
merger was approved :by shareholders of ICICI and ICICI Bank in
January 2002.By the High Court of Gujarat at Ahmedabad in March
2002.By the High Court of Judicature at Mumbai and the Reserve Bank
of India in April 2002.4.s Subsidiaries5. ICICI Bank is Indias
second-largest bank The Bank has a network of 2,888 branches and
10,021 ATMsin India, and has a presence in 19 countries, including
India. Equity Shares listed in BSE, NSE Its American Depositary
Receipts (ADRs) are listedinNYSE6. Global presence UK Belgium
RussiaCanada USA Germany China Hong Kong Bahrain Bangladesh Qatar
Malaysia UAE Thailand Mumbai Singapore Sri Lanka Indonesia South
AfricaSubsidiary Representative Office Overseas BranchLargest
international balancesheet among Indian banks 77.
OrganisationalStructureRetail BankingWholesale BankingProject
Finance and Special Assets ManagementInternational
BusinessCorporate Centre8. VisionTobe the leading provider
ofFinancial Services in India and a major Global Bank9.
MissionWewill leverage our people, technology, speed and financial
capitalBethe banker of first choice for our customers by delivering
high quality, world-class products and services Expandthe frontiers
of our business globally PlayaPROACTIVErole in the full realisation
of Indias potential Maintaina healthy financial profile and
diversify our earnings across businessman and geographies
Maintainhigh standards of governance and ethics
Contributepositively to the various countries and markets in which
we operate Createvalue for our stakeholders10. Awards ICICI Bank
won the Best Bank - India Award by The Banker. ICICI Bank in the
Private Sector Bank category won the Best Technology Bank Of The
Year Best Financial Inclusion Initiative and Best Use Of Technology
In Training and e-Learning by Indian Banks Association (IBA)
Technology Awards.The Bank also received the first runner up for
Best Online Bank, Best Customer Relationship Initiative and Best
Use Of Mobility Technology in Banking by IBA Technology Awards. For
the fifth year in a row, ICICI Bank was awarded the "Best Foreign
Exchange Bank (India)" by Finance Asia Country Awards.11. Top
B.O.D,Chairman,CEO,CFO,MD ZonalMiddle Heads SGMs BranchLower
managers12. HIERARCHY LEVELS BRANCH MANAGER APEX LEVEL , BANK
MANAGER TECHANICAL EXPERT FUNCTIONAL LEVEL , DATA ANALYSTS
OPERATIONAL CASHIER , DATA ENTRY LEVEL OPERATOR13. 13. 1.Career
Development Opportunities2.Supervisor Support3.Work
environment4.Rewards5.Work-life Policies14. 1. Career Development
Opportunities More than 10 CEO and board level positions filled
only by internal staff. Horizontal Growth15. 2.SupervisorSupport
Internal platforms for the employees to engage with senior
management. This year, more than 400 such sessions were held.
Resolving concerns Cordial industrial/Employee relation
environment16. 3.Work Environment Tech- Savvy Non- Hierarchical
Extension of Authority along with accountability17. 4.Rewards ESOPs
Annual Promotions & Bonuses18. 5.Work-Life Policies & Some
Benefits Employee Salary A/c Benefits. Family Health Insurance
Flexibility to innovate Exhibits rigidity in terms of well laid
systems, processes and infrastructure -Staff Retirement Benefits:1.
Gratuity2. Superannuation Fund3. Pension4. Provident Fund5. Leave
Encashment19. Attrition Rate at High Nearly 20% in all segments.
59,033Employees September >57,033 Employees in December ICICI
BANK Ltd. typically pays its employees 9% below market. Similar
employers pay their employees: 8%above market Similar companies
include: State Bank of India, Andhra Bank,EssarSteel LtdGOLDEN
WORDS BY Mr.KAMATH(ICICI) ABOUTATTRITION & JOB HOPPING ON
NDTVYESTERDAY-"ITS LIKE A COIN-THE FLIPSIDE OFTALENT IS
OPPURTUNITY"20. Some HR Practices Whistle Blower Policy21. 2 new
internal Academies:1. The Rural & Inclusive Banking Academy2.
The Privilege Banking
Academy-------------------------------------------------------------------------------------------------------
Skill through Drill An innovative video based program to equip the
branch staff with requisite service skills to deliver the better
service to our customers. All employees in customer service and
sales roles were assessed and certified on threshold functional
knowledge.22. Create an efficient applicant pool to fill
vacancies.ICICI (the No. 1 private life insurer in the country)
Service basedorganization- employees are the biggest ASSETS.At
ICICI recruitment: high during May-June &
October-NovemberAttrition Rate high among sales managers, unit
managers mostlyin sales profile.23. 1st: Realize the job vacancies
and understand the job profiles for the same. 2nd: Come up with the
job design and specification for the job portals EVERY POSITION AT
ICICI HAS A VERY SPECIFIC JOB DESIGN E.g.For audit, they seek
technical knowledge and analytical skills + an ability to sift
through humongous data and bring a context to it.24. Recruitment
Head (ICICI Bank)Date of Posting:26-Mar-2012 Company Name: ICICI
Bank Ltd Industry: Commercial Banking Job Description: Position
Title : Recruitment Head Grade : Chief Manager Business Group :
Human Resource Management Group Key Responsibilities: Define
Resourcing Strategy and deliver key priorities for the business
e.g. Quality of Hiring, Employer Branding, Sourcing Strategy.
Translating the headcount plan into clear job requirements and
definition Function: Human Resources Location: Kolkata Level:
Senior level Position Reference: Cool Avenues/260312-Recruitment
Head Contact Information: MsKorn25. INTERNAL EXTERNALRECRUITMENT
ICICI RECRUITMENT26. INTERNAL RECRUITMENT:ICICI - referral forum in
companys web-page - ATLAS Managerial roles - trace out the
performances of the existing employees and conduct a review of
selection process.27. EXTERNAL RECRUITMENT ICICI -souring from
Manpower suppliers, conducting interviews at university campuses.
ICICI Prudential often conducts walk-in interview-a time and cost
saving method. It had also tied-up with few online portals where
they can post the job requirements at a regular basis. Apart from
these ICICI prudential also pull out candidates from various
sources like Media & communication, advertisements etc.28. 2%
7% 8% 28% CAMPUS RECRUITMENT13% ONLINE APPLICANTS RECRUITER
EMPLOYEE REFERRAL 17% 26% OTHER IN-PERSON STAFF AGENCY29. STRENGTHS
WEAKNESS Rigorous Pre-Hiring assessmenttests toPre assessment tests
are costly.understand aptitude and personality of Lengthy pre-offer
formalities.candidates. Huge employee turnover.Proper reference
checks to ensure thatonly bonafide candidates are appointed.
OPPORTUNITIES THREATS Campus recruitments have huge Increasing
number of private players in potential for fulfilling manpower
insurance sector creates ample requirements cost effectively
choices, easy mobility for employees. Develop exclusive contract
with Same channel partners are handling all channel partners to
meet the insurance companies leading to same manpower requirements.
pool of candidates being circulated to all partners.30. Employees
are an asset Source of Competitive Advantage31. Combination
of:Aptitude TestCase Study based GDPsychometric assessmentPersonal
Interview32. For Freshers from B- Schools Psychometric Test 3
rounds of personal Interviews1. General2. Team head (DGM)3. HR Head
Hired as Managers33. A Professional(with 3yrs or more
experience)Two Rounds of Personal Interview1. Immediate boss or
team head2. HR head34. Probationary Officers (junior level)1.
Online Aptitude Test2. Online Psychometric AssessmentOnce the above
two are cleared: Group Discussion (Case Study Based) Personal
Interview35. Probationary officers undergo a one year intensive
residential classroom training at ICICI Manipal Academy and
internship. On successful completion, they get absorbed as Manager
or Assistant Managers(999 students in 2012)36. For B-School Hires:
First 3 weeks: induction, business etiquette Allowed to work for
3-4 months Intensive 9 to 9 technical training for one week Yearly
one week training programs (common for all employees)37. ICICI
Business Leadership Programme ICICI Bank has partnered with
National Institute of Securities Markets (NISM) to launch Post
Graduate Certificate in Securities Markets (PGCSM)On successful
completion of the course participants get absorbed at ICICI Bank
(or any other group company) as a Manager.38. Participants will be
shortlisted on merit and will be invited for the selection process.
Entrance Test Group DiscussionApplicants who clear the above two
stages: Psychometric Profiling / Personal Interview39. Behavior
Training Programme To Middle, Senior Professionals Involve To
Evolve Mastering Effective Communication Training sessions at IIGJ
NIIT with ICICI Bank enters financial services training40. What is
performance appraisal? It is a systematic evaluation of the
performance of employees to understand the abilities of a person
for further growth and development. Manages and aligns
organizations resources It measures the pay of employees Analyses
factors Guides employees41. IMPORTANCE OF PERFORMANCE APPRAISAL
PROMOTION COMPENSATION EMPLOYEE DEVELOPMENT SELECTION VALIDATION
COMMUNICATION MOTIVATION42. PERFORMANCE APPRAISALTECHNIQUES OF
ICICI BANK43. COMPONENTS Performance Planning (includes employee
goal setting / objective setting) Ongoing Performance Communication
Data Gathering, Observation and Documentation Performance Appraisal
Meetings Performance Diagnosis and Coaching44. The Performance
Appraisal system in ICICI bank emphasizes individual objectives,
Bank objectives and also mutual objectives. INDIVIDUAL OBJECTIVE
VIEWPOINTa) What task the individual is expected to do?b) How well
the individual has done the task?c) How can his performance be
further improved?d) His reward for doing well.45. BANK OBJECTIVE
VIEWPOINTa) Manpower informationb) improve efficiency and
effectiveness c) serve as a mechanism of control and provide a
rational compensation structure. MUTUAL OBJECTIVE VIEWPOINTa) The
emphasis is on growth and development, harmony, effectiveness and
profitability of the bank46. PA MODEL 1RANK AND YANK STRATEGY
Best-to-worst ranking methods are used to identify poor performers.
The identified poor performers are then given a time period to show
an improvement in their performance. If the employee fails, he is
asked to leave the organization and a severance package is offered
to him. If the employee refuses to leave, his service is terminated
without any compensation. Advantage : it continually motivates
employees to better their performance since nobody would like to be
included in the poor performance band. Disadvantage : employees
become too competitive and team spirit is not nurtured.47. PA MODEL
2MANAGEMENT BY OBJECTIVE (MBO) In this method the subordinate in
consultation with the supervisor chalks out short term objectives
followed by specific actions. The goals are action oriented,
specific, measurable, achievable, review able and time bound,
aligned with the goal of the organization. The activities are
jointly reviewed by both the subordinate and his supervisor.
Depending on the performance of the subordinate, the goals are
modified or redesigned for the next period of time.48. Advantages
of MBO : Self evaluation Promotes communication and information
sharing Motivates employees Facilitates guidance49. MODEL 31.
Performance Appraisal Form :Aself assessment form employees and
managers have to fill.2. 360 degree feedback process :Input is
taken from peers.3. Performance Appraisal Interview :Managers and
employees take part in a formal interview.
Human Resource Management function that helps managers recruit,
select, train and develop members for an organization. Obviously,
HRM is concerned with the peoples dimension in organizations. Work
force of an Organization is one of the most important inputs of
components. It is said that people are our single most important
assets. Because of the unique importance of HUMAN RESOURCE and its
complexity due to ever changing psychology, behavior and attitudes
of men and women at work, in all business concerns, there is one
common element. I.e. Human personnel function, i.e., manpower
management function is becoming increasingly specialized. The
personnel function or system can be broadly defined as the
management of people at work- management of managers and management
of workers. Personnel function is particularly interested in
personnel relationship and interaction of employees-human
relations.
In a sense, management is personnel administration. Management
is the development of people, and not mere direction of material
resources. Human capital is the greatest asset of a business
enterprise. The essential ingredient of management is the
leadership and direction of people. Each manager of people has to
be his own personnel man. Personnel management is not something you
really turn over to personnel department staff.
Responsibilities of Human Resource Department.
HRD maintain daily attendance record through branch manager via
E-mail. Take decisions for approval regarding leave notes. He takes
the decision related to the recruitment, selection and training of
the candidates. He talks to the consultant related to the
recruitment of the qualified candidates. He also does screening of
the candidates, shortlist the candidate and takes the first round
of the interview. He maintains the database of the candidates to
come for an interview. He also maintains personal file of each
employee. He also completes the joining formalities of each new
employee. They are taking surprising visit in every branch and
collect information about employees. He is responsible for the
monthly salary of the employees as per their attendants and passing
to the Branch Manager.
Human Resource planningThis is handled by doing the planning at
the beginning of every year. At the end of the year, the Human
Resource department from each Branch receives the requirement for
the person for whole year. Then the planning of recruitment and
training is done by training manager and recruiting manager which
is approved from Head of HR Department.1. RecruitmentRecruitment is
a process of searching for prospective candidates for the given job
in the industry. As we know it is very important for an industrial
concerns to have efficient and effective personnel with right
quality and at right time and at right place available whenever
they are needed. Every organization needs employee time by time
because of promotion or retirement of an employee. For this purpose
an organization need to search for the right candidate. And so it
needs to encourage this type of right candidates whenever they
require.Sources of Recruitment Personal data of candidates and data
bank maintain by the HR.department Campus Recruitment. Companys own
website. Placement consultants. Advertisement in the news papers
like Times of India, Gujarat Samachar. Employee reference.
Recruitment Process
InterviewScreeningShortlistProfile CheckApplicant pool
Selection Selection is the process of taking individuals out of
the pool of job applicants with requisite qualifications and
competence to fill jobs in the organization. It is define as the
process of differentiating between applicants in order to identify
and hire those with a greater likelihood of success in a job.
Selection is based on probation base, they are taking experienced
person for 6 months probation and for fresher the probation period
is 1 year. While the selection of the senior level post, is taken
by head office at Mumbai.
Training and Development Training aims at increasing the
aptitudes, skills and abilities of workers to perform specific job.
It makes employees more effective and skillful. In present dynamic
world of business training is more important there is an ever
present need for training men. So that new and changed techniques
may be adopted. A new and changed technique may be taken as an
advantages and improvement affected in the old methods. Training is
learning experience that seeks relatively permanent change in an
individual that will improve his/her ability to perform on the job.
They provide on the job training to their employees in the branch
as they select these employees for selling various products of bank
by direct marketing. Whenever they select new candidates for any
post, they use to give them on the job work. In case of sales
persons to distribute their various products, in the beginning the
person has to work under the observation of his senior then the
have to go in market to have their own experience. The time for
training program for the candidate is depends up on the relevant
position of his work area. They also provide training related to
customer care and communication.
Performance Appraisal An organizations goals can be achieve only
when people put in their best efforts. Performance appraisal may be
understood as the assessment of an individuals performance in a
systematic way. It is define as the systematic evaluation of the
individual with respect to his/her performance on the job and
his/her potential for development. To appraise the performance of
the employee they have developed a credit system on the basis of
the given target to the employee. After appraising the performance
of the employee they put the grade of each employee in the
following grade criteria.
Employee Remuneration and Incentive Payments Remuneration is the
compensation an employee receives in return for his/her
contribution to the organization. Remuneration occupies an
important place in the life of an employee.
At ICICI, remuneration of an employee comprises wages and
salary, incentives.Wages and Salary A part from various incentives
and benefits, the personnel are compensated only in terms of wages
and salaries. A proper compensation in terms of this is necessary
for motivation employees for their continuous improved performance.
For all this, it is required that wages and salaries are provided
well by organization. Wages and salary refers to the establishment
and implementation of sound policies and practices of employees
compensation. A wage and salary is the remuneration paid for the
service of labor in production periodically to an employee. The
bank is in service industry so the salary is given on monthly
basis. They use to hire certain salesman on commission base and
they are provided their salaries on commission base. While other
permanent staff are being given monthly salaries. As ICICI bank is
reputed bank in market the pay scale are as per the standard. Sales
executives (coax) are being given salary of 6000 to 8000 per month.
While sales officers salary ranges from 15000 to 18000 per month.
ICICI bank is also giving attractive incentives as per the target.
The salary of branch manager is around 35000 per month. IncentiveIn
ICICI, employees get incentives on the basis of the target given to
each employee and their area of work. They have developed the
incentive structure for the employees on the basis of point system.
All the employees get the incentive in the form cash reward.
2. Employees benefitThe employees of ICICI automatically become
ICICI bank salary account Holders with special benefit and
privileges and receive instant salary credit. The benefit include
international debit card, corporate card with individual liability
(CCIL), access to phone banking and internet banking, demat
accounts, and host of other services to complement their savings
account. Here are some of the features of ICICI Banks salary
account.3.MotivationMotivation is willingness to do something
conditioned by this actions ability to satisfy some need.
Motivation is given by the responsible person, like branch manager
or team manager for better performance in the department.
Disputes and their resolutionDisputes are common in
organization. In practice, disputes mainly relate to the target
only because if any employee is not achieving target he/she will
not eligible for incentive which creates frustration among
them.
Every employee is free to talk to the head of the particular
department if they have any problem related to the job. Firstly,
the problem is solved by the head of the particular department and
if the problem does not solved by the head of that department then
it is addressed to the HR Manager.
SWOT ANALAYSIS OF ICICI BANK
STRENGTH
Right strategy for the right products. Superior customer service
vs. competitors. Great Brand Image Products have required
accreditations. High degree of customer satisfaction. Good place to
work Lower response time with efficient and effective service.
Dedicated workforce aiming at making a long-term career in the
field.
WEAKNESSES
Some gaps in range for certain sectors. Customer service staff
need training. Processes and systems, etc Management cover
insufficient. Sectoral growth is constrained by low unemployment
levels and competition for staffOPPORTUNITIES
Profit margins will be good. Could extend to overseas broadly.
New specialist applications. Could seek better customer deals.
Fast-track career development opportunities on an industry-wide
basis. An applied research centre to create opportunities for
developing techniques to provide added-value services.
THREATS
Legislation could impact. Great risk involved Very high
competition prevailing in the industry. Vulnerable to reactive
attack by major competitors Lack of infrastructure in rural areas
could constrain investment. High volume/low cost market is
intensely competitive.
KEY POINTSWOT Analysis is a simple but powerful framework for
analyzing company's Strengths and Weaknesses, and the Opportunities
and Threats you face. This helps you to focus on your strengths,
minimize threats, and take the greatest possible advantage of
opportunities available to you.
Questionnaire
Name:
1. Does ICICI bank offer online access to its HR? YES NO
2. What benefit does ICICI bank offer for relocating employees?
Mortgage assistance Spousal relocation assistance Down payment
assistance Cost of living differential
3. What family-friendly benefit does ICICI bank offers to its
employees? Telecommuting (work from home) Flextime Subsidized
childcare College assistance or scholarship for family
4. What personal benefits does your company offer? Cafeteria
Career guidance Parking Casual dress
5. Do you consider the added cost (if any) of including a spouse
and children in health coverage to be reasonable or too high?
Reasonable Too high
6. Does your company offer any special or unusual benefits? Yes
No
7. Does ICICI bank offers any emergency helpline to its
employees? Yes No
8. Are you satisfied with the appraisal policy of ICICI bank?
Yes No
9. Do all the HR policies of your company pertain to all the
employees universally? Yes No
10. Do you get any emergency leave if required? Yes No
11. Do you all get interactive session with HR time to time? Yes
No
12. Are you satisfied with your Designation and compensation for
the same which you are getting? Yes No
13. Why you have chosen ICICI bank as you employer? Best Bank in
Banking industry Best career opportunity High Salary Any other
Reason
14. Do you have any feedback policy under HR policies of your
company? Yes No
15. Are you happy and satisfied with HR policies of your bank?
Yes No
16. Any comment on the HR policies of your company?
RESULTS, DATA ANALYSIS & DISCUSSIONS1. Does ICICI bank offer
online access to its HR?
Analysis and Interpretation:
100% said yes2. What benefit does ICICI bank offer for
relocating employees?
Analysis and Interpretation: 63% of employees says the bank
gives Spousal relocation assistance 24% says bank gives Down
payment assistance 12% says bank gives Mortgage assistance And only
15 says that bank gives Cost of living differential3.What
family-friendly benefit does ICICI bank offers to its
employees?
4.What personal benefits does your company offer?
5. Do you consider the added cost (if any) of including a spouse
and children in health coverage to be reasonable or too high?
6.Does your company offer any special or unusual benefits?
7.Does ICICI bank offers any emergency helpline to its
employees?
8.Are you satisfied with the appraisal policy of ICICI bank?
9.Do all the HR policies of your company pertain to all the
employees universally?
10.Do you get any emergency leave if required?
11.Do you all get interactive session with HR time to time?
12.Are you satisfied with your Designation and compensation for
the same which you are getting?
13.Why you have chosen ICICI bank as you employer?
14.Do you have any feedback policy under HR policies of your
company?
15. Are you happy and satisfied with HR policies of your
bank?
FINDINGS & RECOMMENDATIONSHuman Resource Management function
that helps managers recruit, select, train and develop members for
an organization. Obviously, HRM is concerned with the peoples
dimension in organizations. Work force of an ICICI BANK is one of
the most important inputs of components. It is said that people are
our single most important assets. Because of the unique importance
of HUMAN RESOURCE and its complexity due to ever changing
psychology, behavior and attitudes of men and women at work, in all
business concerns, there is one common element. I.e. Human
personnel function, i.e., manpower management function is becoming
increasingly specialized. The personnel function or system can be
broadly defined as the management of people at work- management of
managers and management of workers. Personnel function is
particularly interested in personnel relationship and interaction
of employees-human relations. In a sense, management is personnel
administration. Management is the development of people, and not
mere direction of material resources. Human Capital is the greatest
asset of aICICI BANK. The essential ingredient of management is the
leadership and direction of people. Each manager of people has to
be his own personnel man. Personnel management is not something you
really turn over to personnel department staff.
CONCLUSIONKey points of ICICI bank HR polices is concluded as
follows:PERFORMANCE APPRAISALTECHNIQUES OF ICICI BANK is one of the
best techiques in banking industry at
presentPROMOTIONCOMPENSATIONEMPLOYEE DEVELOPMENTSELECTION
VALIDATION COMMUNICATION MOTIVATION
BANK OBJECTIVE VIEWPOINT a) Manpower information b) improve
efficiency and effectiveness c) serve as a mechanism of control and
provide a rational compensation structure.
MUTUAL OBJECTIVE VIEWPOINT a) The emphasis is on growth and
development, harmony, effectiveness and profitability of the
bank
PA MODEL 1RANK AND YANK STRATEGY Best-to-worst ranking methods
are used to identify poor performers. The identified poor
performers are then given a time period to show an improvement in
their performance. If the employee fails, he is asked to leave the
organization and a severance package is offered to him. If the
employee refuses to leave, his service is terminated without any
compensation.
BIBLIOGRAPHY
BOOKS REFFERED:
T.N Chhabra , Human Resource Management
WEBSITES REFFERED:
www.wikipedia.comwww.icicibank.comwww.google.co.in
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