Maharaja Agrasen Institute of Management Studies

Study on Recruitment and Retention Policies

of

Larsen & Toubro Limited

Submitted by :- Puneet Gera Project Guide : - Mrs Riya Sharma Designation : - Assistant Professor Enrolment no :- 05461101712 Programme Semester :- BBA (Gen) :- III

CERTIFICATE

This is to certify that the project entitled Study on Recruitment and Retention Policies submitted by Puneet Gera, Enrolment no. 05461101712 has been done under my guidance and supervision in partial fulfilment of Bachelor of Business Administration (General).

The working analysis mentioned in this report has been undertaken by the candidate himself and necessary reference has been recognized and acknowledged in the text of the report.

Mrs Riya Sharma (Internal project guide)

ACKNOWLEDGEMENT

Many talented people have contributed to the successful completion of this work and I would like to extend a word of thanks and appreciation to all of them.

First, I take this opportunity to acknowledge my institution MAHARAJA AGRASEN INSTITUTE OF MANAGEMENT STUDIES, Indraprastha University where I am pursuing my degree Bachelor of Business Administration. Second, I empress my thanks to Mrs Riya Sharma, Internal Project Guide, for his guidance, support and encouragement which helped me in completing my project. Above all, I would like to thank the Almighty God without whom this work could never have been completed.

Mr. Puneet Gera

TABLE OF CONTENTS
Chapter No. Subject
Introduction. Research Methodology. 1.1 Primary Objective(s). 1.2 Hypothesis.. 1.3 Research Design 1.4 Sample Design 1.5 Scope of the Study 1.6 Limitations Critical Review of Literature.. Company Profile .. 4.1 Industry Profile. 4.2 Swot Analysis... Data... 5.1Collection 5.2Primary Data.. 5.3 Secondary Data... Findings & Analysis.. Recommendations Bibliography Annexure.. 9.1 Tables. 9.2 Graphs Case study Synopsis of the project

Ch.-1.0 Ch.-2.0

Ch.-3.0 Ch.-4.0

Ch.-5.0

Ch.-6.0 Ch.-7.0 Ch.-8.0 Ch.-9.0

Ch.-10 Ch.-11

Chapter 1: INTRODUCTION
Organisations are becoming large & complex with progressive industrialisation. Human Resource Department hence becomes the prime department in all concerns whether small or large & its Importance can be never ever estimated. The basic concept of summer training is to give students a new insight of practical applications of Human Resource Department of the organisation. In this modern world all human being thrive to become more skilled & hence they all work hard to achieve the predetermined goals with their wholehearted dedication towards their jobs assigned. They always try to be close to perfection for this they need to be properly trained in their respective fields so that the unskilled workforce sharpens their skills & the skilled workforce move closer to their goals. Also each of the employees should be properly motivated so that he/she develops a will to work & fell that he is a part of the organisation, this help in the development of a sense of responsibility & a sense of belongingness amongst the employees. Hence the need for development of human resource was felt. The human Resource of the organisation should be prepared in such a way that they help the employee to perform efficiently

In the process, the aspects which have been looked into are:

1. History of L & T 2. Industry profile 3. Operation Devisions 4. Research methodology 5. Analysis of facts 6. Conclusions drawn

History of Larson & Toubro

A company was founded in Mumbai in 1938 by two Danish engineers, Henning Holck-Larsen and Soren Kristian Toubro. The company began as a representative of Danish manufacturers of dairy equipment. However, with the start of the Second World War in 1939 and the resulting restriction on imports, the partners started a small workshop to undertake jobs and provide service facilities. Germany's invasion of Denmark in 1940 stopped supplies of Danish products. The war-time need to repair and refit ships offered L&T an opportunity, and led to the formation of a new company, Hilda Ltd., to handle these operations. L&T also started to repair and fabrication shops signalling the expansion of the company. The sudden internment of German engineers in India (due to suspicions caused by the War), who were to put up a soda ash plant for the Tatas, gave L&T a chance to enter the field of installation. In 1944, ECC was incorporated by the partners; the company at this time was focused on construction projects (Presently, ECC is the construction division of L&T). L&T decided to build a portfolio of foreign collaborations. By 1945, the company represented British manufacturers of equipment used to manufacture products such as hydrogenated oils, biscuits, soaps and glass. In 1945, the company signed an agreement with Caterpillar Tractor Company, USA, for marketing earth moving equipment. At the end of the war, large numbers of war-surplus Caterpillar equipment were available at attractive prices, but the finances required were beyond the capacity of the partners. This prompted them to raise additional equity capital, and on 7 February 1946, Larsen & Toubro Private Limited was born.

Post-Independence
Offices were set up in Kolkata (Calcutta), Chennai (Madras) and New Delhi. In 1948, fifty-five acres of undeveloped marsh and jungle was acquired in Powai, Mumbai. That uninhabitable swamp subsequently became the site of its main manufacturing hub. In December 1950, L&T became a public company with a paid-up capital of Rs. 20 lakhs (2 million rupees)(20,00,000.00). The sales turnover in that year was Rs. 1.09 crore (10.9 million rupees). In 1956, a major part of the company's Mumbai office moved to ICI House in Ballard Estate, Mumbai; which would later be purchased by the company and renamed as L&T House, its present corporate office. The sixties witnessed the formation of many new ventures: UTMAL (set up in 1960), Audco India Limited (1961), Eutectic Welding Alloys (1962) and TENGL (1963)

Larsen & Toubro Industry Profile

Larsen & Toubro Limited (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector. More than seven decades of a strong, customer-focused approach and the continuous quest for world-class quality have enabled it to attain and sustain leadership in all its major lines of business. L&T has an international presence, with a global spread of offices. A thrust on international business has seen overseas earnings grow significantly. It continues to grow its global footprint, with offices and manufacturing facilities in multiple countries. The company's businesses are supported by a wide marketing and distribution network, and have established a reputation for strong customer support. L&T believes that progress must be achieved in harmony with the environment. A commitment to community welfare and environmental protection are an integral part of the corporate vision. In response to changing market dynamics, L&T has gone through a phased process of redefining its organisation model to facilitate growth through greater levels of empowerment. The new structure is built around multiple businesses that serve the needs of different industries. Hydrocarbon Heavy Engineering L&T Construction Power Electrical & Automation Machinery & Industrial Products Information Technology Financial Services Shipbuilding Railway Projects

Operating Divisions

L&T has delivered Engineering and Construction (EPIC) services for many projects in the upstream hydrocarbon sector over the last two decades, in India, Middle East, Africa, South-East Asia and Australia. L&T has formed a joint venture with Sapura Crest Petroleum Berhad, Malaysia for providing services to offshore construction industry worldwide. The joint venture will own and operate the LTS 3000, a Heavy Lift cum Pipe lay Vessel. L&T has more than 38000 employees in India. L&T Power has set up an organization focused on coal-based, gas-based and nuclear power projects. L&T has formed two joint ventures with Mitsubishi Heavy Industries, Japan to manufacture super critical boilers and steam turbine generators. L&T is among the top five fabrication companies in the world. L&T has a shipyard capable of constructing vessels of up to 150 meters long and displacement of 20,000 tons at its heavy engineering complex at Hazira. The shipyard is geared up to take up construction of niche vessels such as specialized Heavy lift Cargo Vessels, CNG carriers, Chemical tankers, defence & Para military vessels, submarines and other role specific vessels. The design wing of L&T ECC is called EDRC (Engineering Design and Research Centre). EDRC provides consultancy, design and total engineering solutions to customers. It carries out basic and detailed design for both residential and commercial projects. L&T Solar L&T Construction a subsidiary of the Larsen & Toubro conglomerate also undertakes solar projects. In April 12, L&T commissioned India's largest solar photo v oltaicbased power plant (40 MWP) owned by Reliance Power at Jaisalmer, Rajasthan from concept to commissioning in 129 days. In 2011, L&T entered into a partnership with Sharp for EPC (engineering, procurement and construction) in megawatt solar project and plan to construct about 100 MW in the next 12 months in most of the metros. L&T Infra Finance, promoted by the parent L&T Ltd, is also active in the funding of solar projects in India.

Electrical and electronics L&T is an international manufacturer of a wide range of electrical and electronic products and systems. L&T also manufactures custom-engineered switchboards for industrial sectors like power, refineries, petrochemicals and cement. In the electronic segment, L&T offers a range of meters and provides control and automation systems for industries. Medical Equipment. Information technology L&T InfoTech focuses on information technology and software services. Larsen & Toubro InfoTech Limited, a 100 per cent subsidiary of the L&T, offers software and services with a focus on Manufacturing, BFSI and Communications and Embedded Systems. It also provides services in the embedded intelligence and engineering space. L&T Machinery & Industrial Products L&T manufactures markets and provides service support for construction and mining machinery, surface miners, hydraulic excavators, aggregate crushers, loader backhoes and vibratory compactors; supplies a wide range of rubber processing machinery; and manufactures and markets industrial valves and allied products and a range of application-engineered welding alloys. L&T EWAC EWAC Alloys Limited, started as a joint venture of Larsen & Toubro Limited, India & Messer Eutectic Castolin Group, Germany. Prof. Wasserman, Founder of Eutectic Castolin, and Mr.Henning Hock Larsen, Founder of Larsen & Toubro, laid the foundation of Eutectic Division in India in the year 1962. More than 100 years, the Eutectic has been offering state-of-the-art solutions to conserve metallic resources. In the year 2011, EWAC Alloys Limited became a wholly owned subsidiary of Larsen & Toubro Limited.