Anda di halaman 1dari 69

( PORTFOLIO LTD )

A SUMMER TRAINING PROJECT REPORT ON RECRUITMENT AND SELECTION

SUBMITTED TO

ROURKELA INSTITUTE OF MANAGEMENT STUDIES, ROURKELA(B.P.U.T) IN PARTIAL FULFILLMENT OF REQIREMENTS FOR THE AWARD OF DEGREE OF

MASTER OF BUSINESS ADMINISTRATION. MBA 2009-2011

UNDER THE GUIDENCE OF

External Guide Smt. Madhusmita Sharana Regional HR Bonanza Portfolio Ltd Bhubaneswar

Internal Guide Prof. Gayatri Kurup Faculty (HR) RIMS, ROURKELA

SUBMITTED BY: Gupteswar Halba Regd No: 0906260061

BIJU PATNAIK UNIVERSITY OF TECHNOLOGY,ROURKELA,ODISHA ROURKELA INSTITUTE OF MANAGEMENT STUDIES,ROURKELA

CERTIFICATE OF INTERNAL GUIDE

This is to certify that the project entitled RECRUITMENT AND SELECTION IN BONANZA PORTFOLIO Ltd. is a bonafide record of interim report carried out by Mr. GUPTESWAR HALBA, a student of Rourkela institute Of Management Studies, Rourkela , bearing University Regd No: 0906260061(Session 2009-2011), has successfully completed his summer project for the partial fulfillment of the requirements of the award of the degree of Master of Business Administration of Biju Patnaik University of Technology, Rourkel, Odisha. To the best of my knowledge and belief, this project is original effort and contribution which he has worked sincerely under my guidance in this duration. The summer project report has not been submitted earlier to this University or to any other University/Institutions

Wishing him good luck for a successful career all future endeavor.

Date:

Signature of the Guide

DECLARATION

I do hereby declare that the project entitled RECRUITMENT AND SELECTION of BONANZA PORTFOLIO Ltd.is MANAGEMENT STUDIES for submitted award to of ROURKELA MASTER INSTITUTE OF OF BUSINESS

ADMINISTRATION is based on the studies undertaken by me. To the best of my knowledge and belief it has not been published earlier elsewhere or presented to any University / Institution for award of any degree, diploma or other similar title . The information used in the studies report is collected from published Human Resource statement, Annual Report, Various articles and in house journal of the PORTFOLIO BONANZA Ltd. This report shall be used for academic propose only.

Date: Place:

Gupteswar Halba Regd. No.0906260061

ACKNOWLEDGEMENTS

Before I get into the thick of things I would like to add a few heartfelt words for the people who were part of this project in numerous ways, people who gave unending support right from the stage the project was started, appreciated and encouraged when being depressed. In this context I would like to express my gratitude towards my parents band family members who have constantly supported and played a pivotal role in shaping my career. I take this opportunity to express my gratitude to Mrs.Madhusmita Sharana who has given me the opportunity to do the project in the esteemed organization and under his guardianship. I would like to thank the staff and officials of Bonanza Pvt. Ltd., for their co-operation in providing all the information, which were required for the accomplishment of the task. I am thankful to Prof.Gayatri Kurup, Faculty in Human Resource, Rourkela Institute of Management Studies without whose support this project couldnt have been in the form in which it is now. It is his guiding hands which directed me all through the journey.

Place Date -

Gupteswar Halba Regd. No. 0906260061

PREFACE

The study focuses on RECRUITMENT AND SELECTION PROCESS at BONANZA PORTFOLIO PVT. LTD, Bhubaneswar that has strength of 69 employees. This study shows an overall picture of manpower planning chart of the company. In respect of this, the different stages of recruitment process and the different sources being used for the recruitment purpose in the company has been explained. The other aspect of this study is on selection process being practiced in the company. The project report consists of chapter. Chapter one consists of Introduction and an overview of the study, chapter two consist company profile of BONANZA

PORTFOLIO LTD, chapter three consists of SWOT analysis, chapter four consists theoretical aspect of the project and chapter five covers Recruitment and selection process in the company, chapter six contains Research methodology while chapter seven consists of findings and chapter eight covers suggestion and lastly the Conclusion which is being followed by Bibliography and conclusion drawn from the study.

CONTENTS CHAPTER I INTRODUCTION Introduction to the study CHAPTER II COMPANY PROFILE Introduction to the company Group companies Product and services CHAPTER III SWOT ANALYSIS SWOT Analysis of Bonanza Portfolio Pvt. Ltd. CHAPTER IV THEORETICAL ASPECT OF RECRUITMENT AND SELECTION Human Resource Planning Basic steps of HRP Recruitment Need for Recruitment Purpose and importance of Recruitment Sources of Recruitment Selection Essentials of selection procedure

CHAPTER V RECRUITMENT AND SELECTION IN BONANZA PORTFOLIO Recruitment process Sources of Recruitment Selection Scientific selection process CHAPTER VI INTERVIEW Types of Interview CHAPTER VII JOINING FORMALITIES CHAPTER VIII RESEARCH METHODOLOGY What is Research Methodology? Types of Data collection Use of Research Methodology CHAPTER IX FINDING Major findings in Bonanza Portfolio SUGGESTIONS CHAPTER X CONCLUSION

BIBLIOGRAPHY

APPENDIX Job order form Application form

CHAPTER I INTRODUCTION

INTRODUCTION Recruitment and selection are two of the most important functions of personnel management. Recruitment precedes selection and helps in selecting a right candidate. Recruitment is a process to discover the sources of manpower to meet the requirement of the staffing schedule and to employ effective measures for attracting that manpower in adequate numbers to facilitate effective selection of efficient personnel. Staffing is one basic function of management. All managers have responsibility of staffing function by selecting the chief executive and even the foremen and supervisors have a staffing responsibility when they select the rank and file workers. However, the personnel manager and his personnel department is mainly concerned with the staffing function. Every organization needs to look after recruitment and selection in the initial period and thereafter as and when additional manpower is required due to expansion and development of business activities. Right person for the right job is the basic principle in recruitment and selection. Ever organization should give attention to the selection of its manpower, especially its managers. The operative manpower is equally important and essential for the orderly working of an enterprise. Every business organization/unit needs manpower for carrying different business activities smoothly and efficiently and for this recruitment and selection of suitable candidates are essential. Human resource management in an organization will not be possible if unsuitable persons are selected and employment in a business unit

CHAPTER II

COMPANY PROFILE

Introduction to the company Group companies Product and services

INTRODUCTION TO COMPANY: Bonanza, is a leading Financial Service & Brokerage House working since 1994. It can be described in a single word as a Financial Powerhouse. With acknowledged industry leadership in execution and clearing services on Exchange Traded Derivatives and Cash Market Products, Bonanza has spread its trustworthy tentacles all over the country with more than 1600 outlets spread across 460 cities. It provides an extensive range of services in equity, commodities, currency derivatives, wealth management, distribution of third party products, etc. Being at par with the modern tech-savvy world, Bonanza makes an integrated and an innovative use of technology. It also enables its clients to trade online as well as offline and the strategic tie-ups with the latest technology partners has earned Bonanza a prestigious place as one of the top brokerage houses in the country. Client-focused philosophy backed by memberships of all principal Indian Stock and Commodity Exchanges makes Bonanza stand apart from competitors as a preferred service provider in the industry for value-based service. Objective of the organization Principal Objective - To make sure there is availability of a skilled and willing workforce to an organization. Individual Objectives To help employees in achieving their personal goals, which in turn, enhances the individual contribution to an organization. Organizational Objectives To assist the organization with its primary objective by bringing individual effectiveness. Functional Objectives To maintain the departments contribution at a level suitable to the organizations needs. Societal Objectives To ensure that an organization is ethically and socially responsible to the needs and challenges of the society The main objectives of recruitment and selection are to improve the qualities of the applicants, Formulation of objectives for different needs and ways of achieving it. The objective is very important because it determines the designed and content of the selection and recruitment programs.

IMPORTANCE:

Improvement in productivity Maintain the quality of the product To have better companys climate For the present and expected level of performance To develop favorable attitude and level of motivation Introduction of new technology and process Self-development and employees Research and development Managing succession To refresh the knowledge time to time.

SCOPE OF THE STUDY:The scope of the study depends on the "time factor "and resources of the researcher. Taking time factor and resources into considerations, the present study has been limited to a study of recruitment and selection program in one company. For the purpose of BONANZA PORTFOLIO. which is one of the growing and sophisticated BROKERAGE FARM in India has been selected .The study covers the attitude of the applicants, the HR employee, the selection and recruitment officers.

GROUP COMPANIES Bonanza Portfolio Ltd. Bonanza Commodity Brokers (P) Ltd. Bonanza Insurance Brokers (P) Ltd. Bonanza Global DMCC, Dubai Sunglow Fininvest Pvt. Ltd. Bonanza Corporate Solutions Pvt. Ltd. PRODUCTS & SERVICES Bonanza offers an array of services encompassing varied means of wealth creation, finance management and accretion. Brokerage Services Custody Service Equity Depository Commodity Currency Derivatives Distribution Asset Management Insurance PMS Mutual Funds Advisory Fixed Deposits Institutional Broking

ACHIEVEMENTS 5th largest in terms of no of offices for 08-09* Top Equity Broking House in terms of branch expansion for 2008* 3rd in terms of Number of Trading Accounts for 2008* 6th in terms of Trading Terminals in for two consecutive years 2007- 2008* 9th in terms of Sub Brokers for 2007* Awarded by BSE 'Major Volume Driver 04-05,06-07,07-08 Nominated among the Top 3 for the "Best Financial Advisor Awards '08" in the category of National Distributors - Retail instituted by CNBC-TV18 and OptiMix. Ranked 2nd by UTI MF & CNBC TV 18 Financial Awards 2009 in the category Best Financial Advisor-Retail

CHAPTER III

SWOT ANALYSIS

SWOT ANALYSIS

STRENGTH: Bonanza Portfolio is the only Financial service company that provides Brokers, Equity, Commodity, currency derivative, Wealth management. Large experience and biggest market share in the country. It is works since 1994. Availability of and manpower planning & Financial service. Availability of mind product Range with large base of special application customers. And catering to the flat products market segment. Bonanza has over 1500 outlets in more than 550 cities in India. (as on June 2010)Bonanza has more than 2,80,000 clients comprising of Corporate Financial Institutions & Investors, Mutual Funds, High Net-worth Individuals and Retail Investors. Bonanza has a young dynamic team of 2200 professionals. Strong infrastructure supporting over 3000 trading terminals supporting more than 350 VSAT's to support geographic reach and servicing capabilities. 24x7 service and support via our federal support systems

WEAKNESS: Absence of core competence. Location of the plants vis--vis market place. Latest state of art technology for Financial Service. Limited efforts for Branding of products on the fore of stiff competition. Covering 260cities so difficult in planning process.

OPPORTUNITY: A huge investment in insurance and finance sector now a days. Ability to influence market share. Emergence of quality Service. Larger coverage products.

THREATS: Law and Order varies in different time. Up and down in share market indices. Government new liberalization policies.

A new trend acquisitions and mergers is leading to the entrance of large number of international players in the domestic market. This may lead to the stiff competition among them.

CHAPTER IV

THEORITICAL ASPECT OF RECRUITINMENT AND SELECTION Human Resource Planning Basic steps of HRP Recruitment Need for Recruitment Purpose and importance of Recruitment Sources of Recruitment Selection Essentials of selection procedure

HUMAN RESOURCE PLANNING Definition

HRP is the process of ensuring the right number of qualified people into the right job at the right time to deliver the results in an efficient and effective manner. Human resource planning may be viewed as foreseeing the human resource requirements of the organization and the future supply of human resources and (i) making necessary adjustments between these two and organizational plans; and (ii) foreseeing the possibility of developing the supply of human resources in order to match it with requirements by introducing necessary changes in the functions of human resource management. Human Resource means skill, knowledge, values, ability, commitment, motivation etc., in addition to the number of employees. At Bonanza it is necessary to ensure that the right numbers of qualified people areinto the right job at the right time to deliver the results in an efficient and effective manner. It is a process by which an organization determines how it should acquire its desired manpower to achieve the organizational goals. Objectives of Human Resource Planning To ensure adequate supply of manpower as and when required. To ensure proper use of existing human resources in the organization. To forecast future requirements of human resources with different levels of skills. Assess surplus or shortage, if any, of human resources available over a specified period of tie. Anticipate the impact of technology on jobs and requirements for human resources.

Control the human resources already deployed in the organization. Provide lead tie available to select and train the required additional human resource over a specified time period. Basic Steps of HRP

Analyzing impact of strategy and objectives in terms of HR requirements Involving Line managers in determining needs Forecasting the quantity and quality of HR required Matching HR supply in the organizations with numbers required Developing action plan to meet future requirements planned and phased manner Along forecasting the demands for human resources to perform various jobs, managers, especially managers of men, they need to know the nature and requirements of jobs to be filled in the organization. Such knowledge can be obtained through job analysis which entails the process to collect information about a job relating to its operations and responsibilities. There are two major aspects of job analysis: 1. Job Description 2. Job Specification

Job Description
A job description is a list of the general tasks, or functions, and responsibilities of a position. Typically, it also includes to whom the position reports, specifications such as the qualifications needed by the person in the job, salary range for the position, etc. A job description is usually developed by conducting a job analysis, which includes examining the tasks and sequences of tasks necessary to perform the job. The analysis looks at the areas of knowledge and skills needed by the job. That a role is the set of responsibilities or expected results associated with a job. A job usually includes several roles. The job description might be broadened to form a person specification.

Job Specification Job specification summarizes the human characteristics needed for satisfactory job completion. It tries to describe the key qualifications someone needs to perform the job successfully. It spells out the important attributes of a person in terms of education, experience, skills, knowledge and abilities (SKAs) to perform a particular job. The job specification is a logical outgrowth of a job description. For each job description, it is desirable to have a job specification. This helps the organization to find what kind of persons are needed to take up specific jobs. The personal attributes that are described through a job specification may be classified into three categories: Essential attributes: skills, knowledge and abilities (SKAs) a person must possess. Desirable attributes: qualifications a person ought to possess. Contra-indicators: attributes that will become a handicap to successful job performance. A job specification can be developed by talking with the current jobholders about the attributes required to do the job satisfactorily. Opinions of supervisors could also be used as additional inputs. Checking the job needs of other organizations with similar jobs will also help in developing job specifications. Job specification is useful in the selection process because it offers a clear set of qualifications for an individual to be hired for a specific job.

Sr. No 1 2 3 4 5 6 7 8 9 10

SEGMENT /DEPT. Sales (HO& Branches) Regional Head AVP Sales(Reg.PH)/ASM Branch Manger/Asst Branch Manager Product Head SM/Team Leader/Agency Manager Relationship Manager/SRM/SSM/ARM BDM/Franchisee Manager BDE/Sales Executive/ME Telecaller Customer Support Executive

Equity Offline 1

EBroking

Mutual Fund

Insurance

Commodity

Franchisee Dev.

PMS

Total 1

0 3 0 2 10 0 0 2 1

0 4 0 1 3 5 36 0 2 0 0

2 23

1 2

1 2 3 4 5 6 7 8 1 1 2

Subtotal Trading Arbitarge Dealers Subtotal Operations- RO RMG Compliance/KYC Accounts Back office IT HR Admin Office Assistant Subtotal Research Branches Back office Office Assistant Subtotal

16 7 2 9

28

48 7 7 14 0 0 0 2 0 2 0 1 5

2 2

3 3

0 2 2 1 5 0

1 1 2

0 0

0 0

0 0

0 0

0 0

0 0

1 1 2

Total

32 34 0 0 13 HUMAN RESOURCE PLANNING OF BONANZA PORTFOLIO

69

RECRUITMENT Recruitment means to estimate the available vacancies and to make suitable arrangements for their selection and appointment. Recruitment is understood as the process of searching for and obtaining applicants for the jobs, from among whom the right people can be selected. According to EDWIN FLIPPO,Recruitment is the process of searching for prospective employees and stimulating them to apply for jobs in the organization. A formal definition states, It is the process of finding and attracting capable applicants for the employment. The process begins when new recruits are sought and ends when their applicants are submitted. The result is a pool of applicants from which new employees are selected. In this, the available vacancies are given wide publicity and suitable candidates are encouraged to submit applications so as to have a pool of eligible candidates for scientific selection. In recruitment, information is collected from interested candidates. For this different source such as newspaper advertisement, employment exchanges, internal promotion, etc. are used. In the recruitment, a pool of eligible and interested candidates is created for selection of most suitable candidates. Recruitment represents the first contact that a company makes with potential employees. Need for Recruitment: The need for recruitment may be due to the following reasons / situation: a) Vacancies due to promotions, transfer, retirement, termination, permanent disability, death and labour turnover.

b) Creation of new vacancies due to the growth, expansion and diversification of business activities of an enterprise. In addition, new vacancies are possible due to job specification.

Purpose and importance of Recruitment: 1. Determine the present and future requirements of the organization on conjunction with its personnel-planning and job analysis activities. 2. Increase the pool of job candidates at minimum cost. 3. Help increase the success rate of the selection process by reducing the number of visibly under qualified or overqualified job applicants. 4. Help reduce the probability that job applicants, once recruited and selected, will leave the organization only after a short period of time. 5. Meet the organizations legal and social obligations regarding the composition of its work force. 6. Begin identifying and preparing potential job applicants who will be appropriate candidates. 7. Increase organizational and individual effectiveness in the short term and long term.

SOURCES OF MANAGERIAL RECRUITMENT

INTERNAL SOURCES 1) Promotion 2) Transfers 3) Internal notification (Advertisement) 4) Retirement transfer 5) Recall 6) Former employees 7) Miscellaneous external source

EXTERNAL SOURCES 1) Campus recruitment 2) Press advertisement 3) Management consultancy service & private employment exchanges 4) Deputation of personnel or from one enterprise to another 5) Management training schemes 6) Walk-ins, write-ins, talk-ins

SELECTION After identifying the sources of human resources, searching for prospective employees and stimulating them to apply for jobs in an organization, the management has to perform the function of selecting the right employees at the right time. The obvious guiding policy in selection is the intention to choose the best qualified and suitable job candidate for each unfilled job. The objective of the selection decision is to choose the individual who can most successfully perform the job from the pool of qualified candidates. The selection procedure is the system of functions and devices adopted in a given company to ascertain whether the candidates specifications are matched with the job specification and requirement or not. The selection procedure cannot be effective until and unless: Requirement of the job to be filled, have been clearly specified. Employee specification (physical, mental, social, behavioral etc.) has been clearly specified. Candidate for screening have been attached. Thus, the development of job analyses, human resource planning and recruitment are necessary prerequisites to the selection process. A breakdown in any of these processes can make even the best selection system ineffective.

Essentials of selection procedures The selection process can be successful if the following recruitments are satisfied: Someone should have the authority to select. This authority comes from the employment requisition, as developed by analysis of the work load and work force. There must be some standard of personnel with which a prospective employee may be compared, i.e. a comprehensive job description and job specification should be available beforehand. There must be sufficient number of applicants from whom the required number of employees may be selected.

CHAPTER V RECRUITMENT AND SELECTION Recruitment process Sources of Recruitment Selection Scientific selection process

At Bonanza Pvt. Ltd. recruitment represents the first contact that a company makes with potential employees. Recruitment is done to fill the positions which get vacated due to promotions, transfer or termination of job. A well-planned and well-managed recruiting effort results in high quality applicants, whereas, a haphazard and piecemeal efforts will result in mediocre on. Recruitment Process Recruitment at Bonanza Pvt Ltd. refers to the process of identifying and attracting job seekers so as to build a pool of qualified job applicants. The process comprises five interrelated stages. 1. Planning. 2. Strategy development. 3. Searching. 4. Screening. 5. Evaluation and control. The ideal recruitment programme is the one that attracts a relatively larger number of qualified applicants who will survive the screening process and accept positions with the organization, when offered. Recruitment programs can miss the ideal in many ways i.e. by failing to attract an adequate applicant pool, by under/over selling the organization or by inadequate screening applicants before they enter the selection process. Thus, to approach the ideal, individuals responsible for the recruitment process must know how many and what types of employees are needed, where and how to look for the individuals with the appropriate qualifications and interests, what inducement to use for various types of applicants groups, how to distinguish applicants who are qualified from those who have a reasonable chance of success and how to evaluate their work.

RECRUITMENT PROCESS

STAGE 1: RECRUITMENT PLANNING: The first stage in the recruitment process is planning. Planning involves the translation of likely job vacancies and information about the nature of these jobs into set of objectives or targets that specify the (1) Numbers and (2) Types of applicants to be contacted. Bonanza, nearly always, plan to attract more applicants than they will hire. Some of those contacted will be uninterested, unqualified or both. Each time a recruitment Programme is contemplated, one task is to estimate the number of applicants necessary to fill all vacancies with the qualified people. It is basically concerned with the types of people to be informed about job openings. The type of people depends on the tasks and responsibilities involved and the qualifications and experience expected. These details are available through job description and job specification.

STAGE 2: STRATEGY DEVELOPMENT: When it is estimated that what types of recruitment and how many are required then one has concentrate in (1). Make or Buy employees. (2). Technological sophistication of recruitment and selection devices. (3). Geographical distribution of labour markets comprising job seekers. (4). Sources of recruitment. (5). Sequencing the activities in the recruitment process.

Make or Buy: Organization must decide whether to hire employees and invest on training and education programs, or they can hire skilled labour and professional. Essentially, this is the make or buy decision. Organizations, which hire skilled and professionals shall have to pay more for these employees. Technological Sophistication: The second decision in strategy development relates to the methods used in recruitment and selection. This decision is mainly influenced by the available technology. The advent of computers has made it possible for employers to scan national and international applicant qualification. Although impersonal, computers have given employers and job seekers a wider scope of options in the initial screening stage. Bonanza basically hires skilled professionals rather than invest on training of new employees. The recruitment is done online which involves the use of computers and internet.

STAGE 3: SEARCHING: Once a recruitment plan and strategy are worked out, the search process can begin. This step involves attracting job seekers to the organization. These are broadly two sources to attract candidates. These are: 1. Internal Sources 2. External Sources

STEP 4: SCREENING: Screening of applicants can be regarded as an integral part of the recruiting process, though many view it as the first step in the selection process. The selection process will begin after the applications have been scrutinized and short-listed. Application received in response to advertisements is screened and only eligible applicants are called for an interview. A selection committee comprising the Vice-chancellor, Registrar and subject experts conducts interview. Here, the recruitment process extends up to screening the applications. The selection process commences only later. Purpose of screening The purpose of screening is to remove from the recruitment process, at an early stage, those applicants who are visibly unqualified for the job. Effective screening can save a great deal of time and money. Care must be exercised, however, to assure that potentially good employees are not rejected without justification. In screening, clear job specifications are invaluable. It is both good practice and a legal necessity that applicants qualification is judged on the basis of their knowledge, skills, abilities and interest required to do the job. The techniques used to screen applicants vary depending on the candidate sources and recruiting methods used. Interview and application blanks may be used to screen walk-ins. Campus recruiters and agency representatives use interviews and resumes. Reference checks are also useful in screening.

STAGE 5: EVALUATION AND CONTROL: Evaluation and control is necessary as considerable costs are incurred in the recruitment process. The costs generally incurred are: 1. Salaries for recruiters. 2. Management and professional time spent on preparing job description, job specifications, advertisements, agency liaison and so forth. 3. The cost of advertisements or other recruitment methods, that is, agency fees. 4. Recruitment overheads and administrative expenses. 5. Costs of overtime and outsourcing while the vacancies remain unfilled. 6. Cost of recruiting unsuitable candidates for the selection process.

SOURCES OF RECRUITMENT The sources of recruitment can be broadly categorized into internal and external sources(I) Internal Recruitment Internal recruitment seeks applicants for positions from within the company. The various internal sources include Promotions and Transfers Promotion is an effective means using job posting and personnel records. Personnel records help discover employees who are doing jobs below their educational qualifications or skill levels. Promotions has many advantages like it is good public relations, builds morale, encourages competent individuals who are ambitious, improves the probability of good selection since information on the individuals performance is readily available, is cheaper than going outside to recruit, those chosen internally are familiar with the organization thus reducing the orientation time and energy and also acts as a training device for developing middle-level and top-level managers. Transfers are also important in providing employees with a broad-based view of the organization, necessary for future promotions.

Bonanza gives first priority to its own employees with better performance record. Therefore promotion is an effective means to fill vacant positions. On further vacancies it relies on external sources.

Employee referralsEmployees can develop good prospects for their families and friends by acquainting them with the advantages of a job with the company, furnishing them with introduction and encouraging them to apply. This is a very effective means as many qualified people can be reached at a very low cost to the company. The other advantages are that the employees would bring only those referrals that they feel would be able to fit in the organization based on their own experience. The organization can be assured of the reliability and the character of the referrals. In this way, the organization can also fulfill social obligations and create goodwill. This source is very much practiced in Bonanza Portfolio Limited to attract prospective employees.

Former EmployeesThese include retired employees who are willing to work on a part-time basis, individuals who left work and are willing to come back for higher compensations. Even retrenched employees are taken up once again. The advantage here is that the people are already known to the organization and there is no need to find out their past performance and character. Also, there is no need of an orientation programme for them, since they are familiar with the organization.

Dependents of deceased employeesUsually, banks follow this policy. If an employee dies, his / her spouse or son or daughter is recruited in their place. This is usually an effective way to fulfill social obligation and create goodwill. Recalls: When management faces a problem, which can be solved only by a manager who has proceeded on long leave, it may de decided to recall that persons after the problem is solved, his leave may be extended. Retirements: At times, management may not find suitable candidates in place of the one who had retired, after meritorious service. Under the circumstances, management may decide to call retired managers with new extension. Internal notification (advertisement): Sometimes, management issues an internal notification for the benefit of existing employees. Most employees know from their own experience about the requirement of the job and what sort of person the company is looking for. Often employees have friends or acquaintances who meet these requirements. Suitable persons are appointed at the vacant posts.

(II) External Recruitment External recruitment seeks applicants for positions from sources outside the company. They have outnumbered the internal methods. The various external sources include Advertisements :It is a popular method of seeking recruits, as many recruiters prefer advertisements because of their wide reach. Want ads describe the job benefits, identify the employer and tell those interested how to apply. Newspaper is the most common medium but for highly specialized recruits, advertisements may be placed in professional or business journals. It also cost effective.

Employment Exchanges:Employment Exchanges have been set up all over the country in reference to the provision of the Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959. The Act applies to all industrial establishments having 25 workers or more each. The Act requires all the industrial establishments to notify the vacancies before they are filled. The major functions of the exchanges are to increase the pool of possible applicants and to do the preliminary screening. Thus, employment exchanges act as a link between the employers and the prospective employees. Campus Recruitments:Colleges, universities, research laboratories, sports fields and institutes are fertile ground for recruiters, particularly the institutes. Campus Recruitment is going global with companies like HLL, Citibank, HCL-HP, ANZ Grind lays, L&T, Motorola and Reliance looking for global markets. Some companies recruit a given number of candidates from these institutes every year. Campus recruitment is so much sought after that each college; university department or institute will have a placement officer to handle recruitment functions. However, it is often an expensive process, even if recruiting process produces job offers and acceptances eventually. Bonanaza also conducts campus recruitment in various educational institutions for various positions like sales and marketing executives. Consultants:They are in the profession for recruiting and selecting managerial and executive personnel. They are useful as they have nationwide contacts and lend professionalism to the hiring process. They also keep prospective employer and employee anonymous. However, the cost can be a deterrent factor. Head Hunters:They are useful in specialized and skilled candidate working in a particular company. An agent is sent to represent the recruiting company and offer is made to the candidate. This is a useful source when both the companies involved are in the same field, and the employee is reluctant to take the offer since he fears, that his company is testing his loyalty.

Radio, Television and Internet:Radio and television are used to reach certain types of job applicants such as skilled workers. Internet is becoming a popular option for recruitment today. There are specialized sites like naukri.com. Also, websites of companies have a separate section wherein; aspirants can submit their resumes and applications. This provides a wider reach. Online job portals are the main source of prospective employees for Bonanza. The candidates are recruited from job portals like naukri.com, timesjobs.com,

monsterjobs.com etc. Competitors:This method is popularly known as poaching or raiding which involves identifying the right people in rival companies, offering them better terms and luring them away. There are legal and ethical issues involved in raiding rival firms for potential candidates. From the legal point of view, an employee is expected to join a new organization only after obtaining a no objection certificate from his/ her present employer. Violating this requirement shall bind the employee to pay a few m onths salary to his/ her present employer as a punishment. However, there are many ethical issues attached to it. Mergers and Acquisitions:When organizations combine, they have a pool of employees, out of whom some may not be necessary any longer. As a result, the new organization has, in effect, a pool of qualified job applicants. As a result, new jobs may be created. Both new and old jobs may be readily staffed by drawing the best-qualified applicants from this employee pool. This method facilitates the immediate implementation of an organizations strategic plan. It enables an organization to pursue a business plan, However, the need to displace employees and to integrate a large number of them rather quickly into a new organization means that the personnel-planning and selection process becomes critical more than ever.

SELECTION PROCESS

There is no standard selection process that can be followed by all the companies in all the areas. Companies may follow different selection techniques or methods depending upon the size of the company, nature of the business, kind and number of persons to be employed, government regulations to be followed etc. Thus, each company may follow any one or the possible combinations of methods of selection in the order convenient or suitable to it. Following are the selection methods generally followed by the companies. Selection procedure employs several methods of collecting information about the candidates qualifications, experience, physical and mental ability, nature and behavior, knowledge, aptitude and the like for judging whether a given applicant is or not suitable for job. Therefore, the selection procedure is not a single act but is essentially a series of methods or stages by which different types of information can be secured through various selection techniques. At each step, facts may come to light which are useful for comparison with the job requirement and employee specifications. Steps in Scientific Selection Process 1. Job Analysis: It is the basis for selecting the right candidate. Every organization should finalize the job analysis, job description, job specification and employee specifications before proceeding to the next step of selection. The job analysis at Bonanza envisages the HR executive to forecast the manpower requirement and analyze the roles and responsibilities of the position for which recruitment and selection is sought. Besides, biographical, educational, experience, salary and other information are also outlined. 2. Recruitment: Recruitment refers to the process of searching for prospective employees and stimulating them to apply for jobs in an organization, it is the basis for the remaining techniques of the selection and the latter varies depending upon the former.

3. Application Form: Application form is also known as application blank used for securing information from the prospective candidates. Many companies formulate their own style of application forms depending upon the requirement of information based on the size of the company, nature of business activities, type and level of the job etc. Information is generally required on the following items in the application forms: 1) Personal background information 2) Educational attainments 3) Work experiences 4) salary5) Personal details 6) References. 4. Written Examination: The organization have to conduct written examination for the qualified candidates after they are screened on the basis of the application blanks so as to measure the candidates ability in arithmetical calculations, to know the candidates aptitude, reasoning, knowledge in various disciplines, General knowledge and English language 5. Preliminary interview: A Bonanza preliminary interview is conducted to solicit necessary information from the prospective applicants and to assess the applicants suitability to the job. The information provided by the candidate may be related to the job or personal specification regarding education, experience, salary expected, aptitude towards the job, age, physical appearance and other physical requirements etc. 6. Group Discussion: Group discussion is a method where groups of the successful applicants are brought around a conference table and are asked to discuss either a case study or a subject matter. The candidates in the group are required to analyze, discuss, find alternative solutions and select the sound solution. A selection panel then observes the candidates in the areas of initiating the discussion, explaining the problem, soliciting unrevealing information basing on the given information and using common sense, keenly observing the discussion of others, clarifying controversial issues, influencing others, speaking effectively, concealing and mediating arguments among the participants and summarizing or concluding aptly. The selection panel basing on its observation, judges the candidates skill and ability and ranked them according to their merit. In some cases the selection panel may also

ask the candidates to write the summary of the group discussion in order to know the candidates writing ability as well. 7. Tests: Applicants who pass the screening and the preliminary interview are called for tests. Different types of tests may be administered depending on the job and the company. A test provides a systematic basis for comparing the behavior and attitudes and performance of two or more persons. Tests are based on the assumption that individuals differ in their job related traits which can be measured. Tests helps in reducing bias in selection by serving as a supplementary screening device. Tests helps in better matching of candidate and the job. Test may reveal qualifications which remain hidden in the application form and preliminary interview. Test are useful when number of application is more. For effective tests paper should be designed properly. Cut-off points should be determined for successful test. BONANZA PORTFOLIO PVT. Ltd. do not completely concern over the test program. Tests are only used as screening, according to them marks are not always give the perfect idea about a person. They prefer personal interview, rather than TEST. 8. Final Interview: It is the oral examination conducted by the interviewer to check the candidate whether he is alright for the job or not. It is a formal, in depth conversation. In this conversation interviewer can analyze the person through his/ her answer giving style. Thus interview is the purposeful exchange of views. Through this interviewer get an opportunity to ask question about the followings. To evaluate the candidate personally. To ask questions those are not covered in tests. To make judgments on candidates enthusiasm and intelligence. However, interviews do have some limitation Absence of reliability. Personal and subjective judgments. Two interviews do not give same impression about a candidate.

9. Medical Examination: Certain jobs require certain physical qualities like clear vision, perfect hearing, unusual stamina, tolerance of hard working conditions, clear tone, etc. Medical examination reveals whether or not a candidate possesses these qualities. Medical Examination can give the Following Information: Whether the applicant is medically suited for the job. Whether applicant has health problems or psychological attitudes likely to interfere with work efficiency or future attendance. Whether the applicant suffers from bad health which should be corrected before he can work satisfactory. It reveals the applicants physical measurements 10. Reference Checks: After completion of the final interview and medical examination, the personnel department will engage in checking references. Candidates are acquired to give the names of reference in their application forms. These references may be from the individuals who are familiar with the candidates academic achievements or from the applicants previous employer, who is well versed with the applicants job performance, and sometimes from co-workers. In case the reference check is from the previous employer, information for the following areas may be obtained. They are: job title, job description, period of employment, pay and allowances, gross emoluments, benefit provided, rate of absence, willingness of the previous employer to employ the candidate again etc. Before being employed at Bonanza the applicant is asked to provide their references to the HR department to check for the authenticity of the above aspects.

11. Line Managers Decision: The line manager concerned has to make the final decision whether to select or reject a candidate after soliciting the required information from different techniques discussed earlier.. A true understanding between the line manager and personnel managers should be established to take proper decisions.

CHAPTER VI INTERVIEW Types of interview

INTERVIEW A job interview is a conversation which occurs between a potential employer and a job applicant. During the job interview, the employer hopes to determine whether or not the applicant is suitable for the job, while the applicant tries to learn more about the position while also impressing the employer. As a general rule, a job interview is an important part of the process of applying for a job, and it may range in formality from a casual conversation to a series of serious discussions with an assortment of people working within the company. Types of Interview 1. Preliminary Interview Informal Interview: This is the interview which can be conducted at any place by any person to secure the basic and non-job related information. Unstructured Interview: In this interview the candidate is given the freedom to tell about himself revealing his knowledge on various items/areas, his background, expectations, interests etc. 2. Core Interview Background Information Interview: This interview is intended to collect the information which is not available in the application blank and to check that the information provided in the application blank regarding education, place of domicile, family, health, interests, hobbies, likes, dislikes, extracurricular activities of the applicant.

Job and Probing Interview: This interview aims at testing the candidates job knowledge about duties, activities, methods of doing the job, critical/problematic areas, methods of handling those areas etc. Stress Interview:The interview aims at testing the candidates job behaviour and level of withstanding during the period of stress and strain.

Group Discussion Interview: There are two methods of conducting group discussion interviews, viz., group interview method and discussion interview method. All the candidates are brought into one room, i.e., interview room and are interviewed one by one under one group interview. Under the discussion interview: Method one topic is given for discussion to the candidates who assemble in one room and they are asked to discuss the topic in detail. Formal and Structured Interview: In this type of Interview, all the formalities, procedures like fixing the value, time, panel of interviewers, opening and closing, intimating the candidates officially etc., are strictly followed in arranging and conducting the interview. The course of the interview is pre-planned and structured in advance, depending on job requirements. Panel Interview: Interviewing of candidates by one person may not be effective as he cannot judge the candidates in different areas/skills owing to lack of knowledge and competence in multiple disciplines and areas. Hence most organizations invite a panel of experts, specialized in different

areas/fields/discipline to interview candidates. Depth Interview: In this type of interview the candidates would be examined extensively in core areas of knowledge and skills of the job. Experts in the particular field examine the candidates by posing relevant questions as to extract critical answers for them, initiating discussions regarding critical areas of the job and by asking the candidates to explain even minute operations of job performance. 3. Decision-Making Interview After the candidates are examined by the experts including the line managers of the organization in the core areas of the job, the head of the department/section concerned interviews the candidates once again, mostly through informal discussion.

JOINING FORMALITIES

New Employee Orientation is a critical factor in helping a new person develop a productive, lasting relationship with the organization. The joining formalities envisages formalities like verification and submission of all relevant documents at single or multiple locations across the country relieving the HR of the work and travel complexities involved. The new employees are also oriented about safety, the work environment, the new job description, benefits and eligibility, company culture, company history, the organization chart and other relevant information to working in the new company.

CHAPTER VII RESEARCH METHODOLOGY What is research Methodology? Types of Data collection Use of Research Methodology

RESEARCH METHODOLGY A methodology is instantiated and materialized by a set of methods, techniques and tools. A tool an instrument or apparatus that is necessary to the performance of some task. A methodology doesnt describe the specific method; nevertheless it does specify several processes that need to be followed. These processes constitute a generic framework. They may be broken down in sub processes, they may be combined, or their sequence may change. However any task exercise must carry out these processes in one form or another. Methodology may be a description of process, or may be expanded to include a philosophically coherent collection of theories, concepts or ideas as they relate to a particular discipline or field of inquiry. The data and information has been collected from two sources. i) ii) Primary Data Secondary Data

Primary Data: Primary data collected from individuals officials and guides view and from organization and different production units. The trainee through personal interviews, observation of records. Ledgers, files etc., Collects these data collection of these data is time consuming but these are more important and reliable. Secondary Data: Secondary data are these data, which refer for already gathered and available data in contrast with primary data. There may be internal sources within the firm externally these sources may include books of periodicals, published reports. Data services, annual reports etc. For the collection of the Secondary data the trainees consults. Books on the subject. Published reports relevant to the topic. Records of the company. Periodicals. Annual Reports. Commercial Data

OBJECTIVES:The main objectives of the research work are as follows To study the existing practices relating to selection and recruitment in BONANZA PORTFOLIO.

To study the attitudes of the applicants, the recruiter , the recruiter and the top executives towards the selection and recruitment programs provided by selection and recruitment center, BONANZA PORTFOLIO for modernization.

To analyze the steps to be taken for improvement of the existing recruitment program. To develop understanding between theories and practical aspect of recruiting process. To identify the effectiveness of the selection process in the company.

CHAPTER IX FINDINGS AND SUGGESATION

FINDINGS As the study gives emphasis on the recruitment and selection process in the company called BONANZA PORTFOLIO Ltd. So it has been found that the company have quite effective recruitment and selection process. Throughout this internship programme at the company, followings are findings of the study: Company has well-disciplined way of recruitment and selection procedure with minimum cost. Human resource manager highly depend on internet for recruiting the potential candidate for the organization. They are using job portals like monster.com, timesjob.com for acquiring employees. Vacancy is available frequently for lower post. The lower level job was assigned with high targets provided by short time period for fulfillment. As result the reward system in the company was done on the basis of performance. Their contribution was being paid based on the achievement of given targets. Hence it was found that least percent of people was interested in attaining this job. The most effective source of recruitment reference check. Experience persons are preferred more than freshers. To fulfill the higher post vacancies promotion based program is preferred rather than acquiring new employees. The company gives more opportunity in the field of marketing i.e. currency, commodity, share etc. Company spends least money on advertisement for the vacancies in the company through other mode of media.

SUGGESTION

The recruitment and selection procedure in the company is excellent because with minimum cost, more efficient workers are acquired. Company should concentrate over the lower post employees so that they will be motivated and work for the company loyally. For lower posts basic pay roll should be given, not the target oriented pay. There should be a scope for the new talents to enter into the company for higher post. Beside reference check, the company should focus on other media sources like newspaper and social media networking like Facebook, LinkedIn, etc. for the advertisement of the vacancies.

CHAPTER X CONCLUSION

CONCLUSION Recruitment and selection has been of great importance to any organization as the department of marketing, Finance and other departments of the organization. It has been seen now a days recruitment and selection is being practiced in 100% of the organization worldwide and cant be neglected as it plays an important part in attaining the goals and objectives of the organization. Bonanza gives priorities to various employees problem. Bonanza now emphasis in making oriented strategies. The Human Resource Bonanza is doing lot of credit worthy job in handling various employees and knowing their strength where they can give their best for the organization. They have acquired a lot of talents and these are able to deal with various employees diplomatically. The various works are systematically executed and also documented by the Human Resource Department. It has helped to strengthen the relationship between the middle and lower level of management which has helped in attaining certain goals and objectives set up by Bonanza. Bonanza prefer reference check for the new vacancies, which is a good sign. Recruitment process of the company is very much effective and fast.

CHAPTER XI BIBLIOGRAPHY

BIBLIOGRAPHY Books referred RAO V. S .P, Human Resource Management, BHATTACHARYYA D.K, Human Resource Planning ,Excel Books , Gupta & Jhoshi, Human Resource Management, Kalyani Publishers, SHAKSHI K. GUPTA & ROSY JOSHI, Human Resource Management, Kalyani Publishers,

Websites www www.bonanzaportfolio.co.in www.encyclopedia.co.in

APPENDIX JOB ORDER FORM

Email Id :

Position No. Of Position Location Education Preference Experience Range Salary Range

Date Of Order: Deadline:

APPLICATION FORM

PERSONAL PROFILE

PHOTOGRAPH

NAME :______________________________________________

APPLICATION FOR THE POST OF:

RESPONSIBILITY FOR THE REQUIRED POSITIONS

PRIMARY SKILL(MUST HAVE)

SECONDARY SKILL(PREFERABLE)

ADDRESS FOR COMMUNICATION:

PHONE/S OFFICE: E-MAIL ID:

RESIDENCE:

PERMANENT ADDRESS:

PHONE/S: DATE OF BIRTH: PLACE OF BIRTH:

NATIONALITY:

MARITAL STATUS:

FAMILY DETAILS: S.NO. NAME 1. RELATIONSHIP OCCUPATION

2. 3. 4. 5.

ACADEMICS: PERIOD FROM TO COLLEGE/UNIVERSITY/SCHOOL DEGREE SPECIALISATION CLASS PERCENT AGE MARKS OF

ACADEMIC ACHIEVEMENTS: a. Prizes/Scholarships/Awards won EMPLOYMENT DETAILS (Please begin with current job):

PERIOD FROM TO

EMPLOYER

DESIGNATION DUTIES

Please draw the relevant part of your Organization Chart to specify the reporting relationship between you, your superiors and subordinates.

REFERENCES:

Give three professional references not related to you in any way who are familiar with your work.

S.No.

NAME & OCCUPATION

ADDRESS & TELEPHONE

1. 2. 3.

SPECIALISED TRAINING/ON-THE-JOB TRAINING UNDERGONE: Please do not mention routine courses

COURSE

PERIOD/DURATION

INSTITUTION

CAREER OBJECTIVES: a. What made you take up your present profession ?

b.

In what way do you think our Group meets your career objectives?

c.

What kind of work gives you satisfaction and what kind of professional values do you appreciate?

MEMBERSHIP OF ANY PROFESSIONAL BODY / ASSOCIATION:

BODY/ASSOCIATION

NATURE

OF

MEMBERSHIP

(e.g.

LIFE/INDIVIDUAL, etc.)

LEISURE ACTIVITIES:

a.

WHAT LEISURE TIME ACTIVITIES DO YOU PURSUE AND HOW DID YOU DEVELOP AN INTEREST IN THOSE?

b.

HOW DO THESE BENEFIT YOU?

LANGUAGE PROFICIENCY: Please indicate proficiency level (Good, Average, Poor) LANGUATE KNOWN SPEAK READ WRITE

MISCELLANEOUS:

Do you have any relative / friend working with our Group ? If yes, kindly state name, designation and company :

Yes

No

Name : Designation:

Company:

Would you be interested in joining our group even if no accommodation is provided?

Yes

No

DETAILS OF COMPENSATION: Present : Particulars Salary + Monetary Non-Monetary Benefits/ Perquisites

Perquisites (Rs.)

Per Annum

Expected :

Particulars

Salary

Monetary Non-Monetary Benefits/ Perquisites

Perquisites (Rs.)

Per Annum Time required to join in case selected:

The information given by me is true to the best of my knowledge.

Any other information that you may like to provide :

DATE: PLACE:

SIGNATURE:

REMUNERATION DETAILS WITH PRESENT EMPLOYER

DETAILS OF EMOLUMENTS

PER (RS.)

MONTH PROPOSED (FOR OFFICE USE ONLY)

Salary (Basic + DA ) LTA Medical Conveyance Expenses Newspaper/ Magazine Education Allowance Soft Furnishing

Servant Allowance Driver Allowance HRA/Accommodation PF Contribution (%) Superannuation (%) Bonus/ Exgratia Any other allowances (a) (b) (c) Total Rupees

Note :- Details declared above shall have to be satisfied with proof on joining.

Expected Gross Salary:.

(Signature) FOR OFFICE USE ONLY Accommodation : Family___________________ Bachelor____________________

HRA____________________

(A) ADDITIONAL INFORMATION REQUIRED IN APPLICATION FORM

DIRECT RECRUITMENT SCHEME

Advt. Date

Through Reference (Name, Designation).

1.

Do you have any physical disability? If yes, give details.

..

2.

Have you ever been convicted by a court of Law or is any Criminal / civil suit pending against you in the court?

..

3.

Have you ever been employed ____________________? If yes, Indicate Company, Deptt., Period and Designation. .

4.

Have you ever applied been interviewed in any of the member Unit of our organization? If yes, give details. .

5.

Are you a member of PF / Superannuation / ESI (Give No.)

6.

Name & Address of next of kin (who should be contacted in case of emergency):

Pin

Code

No.

__________________________ISD/STD

CODE

______________________________

Telephone No.(Resi.)_________________________Off. No. _________________________