INTRODUCTION 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 and prosper. 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 as the future requirements of the organization in mind.

Human Resource Management theories focus on methods of recruitment and selection and highlight the advantages of interviews, general assessment and psychometric testing as employee selection processes. The recruitment process could be internal or external or could also be online and involves the stages of recruitment policies, advertising, job description, job application process, interviews, assessment, decision making, legislation selection and training Examples of recruitment policies within healthcare sector and business or industrial sectors could provide insights on how recruitment policies are set and managerial objectives are defined. Successful recruitment methods include a thorough analysis of the job and the labor market conditions and interviews as well as psychometric tests to determine the potentialities of applicants. Small and medium sized enterprises (SMEs) also focus on interviews and assessment with emphasis on job analysis, emotional intelligence in new or inexperienced applicants and corporate social responsibility (CSR). Other techniques of selection that have been described include various types of interviews, in tray exercise, role play, group activity, etc.

Recruitment is almost central to any management process and failure in recruitment can create difficulties for any company including an adverse effect on its profitability and inappropriate levels of staffing or skills. Inadequate recruitment can lead to labor shortages, or problems in management decision making and the recruitment process could itself be improved by following management theories. The recruitment process could be improved in sophistication with Rodgers seven point plan, Munro-Frasers five-fold grading system, psychological tests, personal interviews, etc.

Recommendations for specific and differentiated selection systems for different professions and specializations have been given.

The process of recruitment does not however end with application and selection of the right people but involves maintaining and retaining the employees chosen. Despite a well drawn plan on recruitment and selection and involvement of qualified management team, recruitment processes followed by companies can face significant obstacles in implementation. Theories of HRM may provide insights on the best approaches to recruitment although companies will have to use their in house management skills to apply generic theories within specific organizational contexts.

” In simple words recruitment can be defined as a „linking function‟-joining together those with jobs to fill and those seeking jobs. Competition among business organisations for recruiting the best potential has increased focus on innovation. “a process to discover the sources of manpower to meet the requirements of the staffing schedule and to employ effective measures for attracting that manpower in adequate numbers to facilitate effective selection of an efficient workforce. 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 this process is generally known as recruitment. Recruitment is however not just a simple selection process but also requires management decision making and extensive planning to employ the most suitable manpower. Once the required number and kind of human resources are determined. . Flippo defined recruitment as “the process of searching for prospective employees and stimulating them to apply for jobs in the organization.RECRUITMENT Recruitment is defined as.” Edwin B. ethics and climate specific to the organisation. Recruitment is distinct from Employment and Selection. and management decision making and the selectors aim to recruit only the best candidates who would suit the corporate culture.

Human Management resource approaches within any business organization are focused on meeting corporate objectives and realization of strategic plans through training of personnel to ultimately improve company performance and profits. . ethics and climate specific to the organization This would mean that the management would specifically look for potential candidates capable of team work as being a team player would be crucial in any junior management position. Despite a well drawn plan on recruitment and selection and involvement of qualified management team. Theories of HRM may provide insights on the best approaches to recruitment although companies will have to use their in house management skills to apply generic theories within specific organizational contexts. Competition among business organizations for recruiting the best potential has increased focus on innovation. and management decision making and the selectors aim to recruit only the best candidates who would suit the corporate culture. The process of recruitment does not however end with application and selection of the right people but involves maintaining and retaining the employees chosen. recruitment processes followed by companies can face significant obstacles in implementation.Recruitment is however not just a simple selection process and requires management decision making and extensive planning to employ the most suitable manpower.

Develop an organizational culture that attracts competent people to the company. Infuse fresh blood at all levels of the organization. .  Search for talent globally and not just within the company. the purposes and needs are:  Determine the present and future requirements of the organization in conjunction with its personnel-planning and job-analysis activities.    Induct outsiders with a new perspective to lead the company. will leave the organization only after a short period of time. Help increase the success rate of the selection process by reducing the number of visibly.  Help reduce the probability that job applicants.PURPOSE AND IMPORTANCE The general purpose of recruitment is to provide a pool of potentially qualified job candidates. under qualified or overqualified job applicants. Specifically.  Begin identifying and preparing potential job applicants who will be appropriate candidates. once recruited and selected.   Increase the pool of job candidates at minimum cost.

The sequence of steps may also vary from job to job and organisation to organisation.SELECTION Selection is usually a series of hurdles or steps. from job to job within the same organisation. Each one must be successfully cleared before the applicant proceeds to the next one. . For example some organisations may give more importance to testing while others give more emphasis to interviews and reference checks. while applicants for managerial jobs might be interviewed by a number of people. Similarly a single brief selection interview might be enough for applicants for lower level positions. The time and emphasis place on each step will definitely vary from one organisation to another and indeed.

The vital importance of making the right selection of staff for any enterprise cannot be overemphasized. Second. Essentials of Selection Procedure The selection produced adopted by an organization is mostly tailor made to meet its particular needs. because a faulty selection affects not only the training period that may be needed. The critical element is always the spirit team work and the skill of the organization‟s personnel. The thoroughness of the procedure depends upon three factors: First. the length of the probationary or the trial period.Importance of Selection The term selection denotes a choice of one or some form amongst many. the nature of selection. whether faulty or safe. but also results in heavy expenditure on the new employee and the loss that may be incurred by the organization in case the job-occupant fails on his job. As a practice some companies usually hire more than the actual number needed with a view to removing the unfit persons from the jobs. While selecting employees it should be born in mind that they are the greatest source of an organization. The longer the period the greater the uncertainty in the minds of the selected candidate about his future. Everything can be brought or reproduced except skilled and dedicated service. Third. Building and money are always secondary. . the policy of the company and the attitude of the management.

The Recruitment Process at KOTAK SECURITIES is as follows: 1. CONTENTS OF MRF Job Description Job Specification Job title Education Location Industry Experience required Job Summary Behavioral Skills Duties Communication skills . This form is to be essentially accompanied by the External Hiring Form (EHF) which is the documented proof of the Manager‟s requisition and willingness to increase the Head Count in his / her team. Manpower Requisition Form (MRF) Generation accompanied by External Hiring Form (EHF) – Business Manager A detailed job analysis is conducted to identify the skills required to do a job. the sources which can be tapped and hence make the sourcing focused. Hence the primary objective of the generation of Manpower Requisition Form (MRF) is to identify what the job entails and what an incumbent employee must posses to perform successfully on the job.

Job role and responsibility Specific functional skills CONTENTS OF EHF Date of release Name of the manager making the requisition Name of the Business Unit Location at which employee would be posted Position of the employee (Band / Grade) Details regarding whether the employee would on company rolls or traning Term of employment Signatures of concerned manager(s) Once it is known how many and what types of recruits are required. . consideration is given to: i) Sources of recruitment to be considered ii) Companies where the required hires may be employed – Knowing the companies where the desired applicant would be employed helps in sourcing the candidate on a job portal.

As can be seen from the chart that the Employees Referrals are most relied upon and the least is Consultants. SOURCE Data Base Company Website Job Portals PERCENTAGE 14% 10% 30% 38% Employees . The time frame is laid down for each step of recruitment. This exercise gives the staffing member concerned a clear idea of the requirement and hurdles if any. Sourcing Following are the sources used at kotak securities.iii) Time for each step of recruitment – This last step helps in control and evaluation of recruitment process. 2.

30% . 38% Job Portals. 10% Employees Referrals. 14% Company Website.Referrals Consultants 8% SOURCES OF RECRUITMENT Consultants. 8% Data Base.

referrals@kotak. spouse or any other dependent are not allowed under referrals scheme. location . References from personnel involved in the recruitment process are not eligible under this scheme.employee referred . qualification . References from human resource personnel are not eligible under the referrals his or her years of experience . . name of the candidate who is being referred.The open positions are made open to existing employees through HRIMS i.department. All below mentioned details shold be provided by the referrals .e.JOB PORTALS: The most preferred job portal at kotak Securities is Naukri. EMPLOYEE REFERRALS: One or the biggest challenges for any company today is attracting the right kind of talent.Human Resource Information Management System and also ks. references from VP and above ate not considered under scheme. skills .com. Rewards Provided to referrals are monetary rewards are gifted a sum of: Rs 5000 Rs 8000 Rs 10000 For employees on S1 Grade For employees on trainee rolls For employees on rolls of Kotak Securities Application of close relatives such as siblings.Kotak Securities has specific Referrals Policy.employee number.

position or employer the data in the Recruitment database can be made accessible. If the requirement is such that a candidate found unsuitable for a position in one business unit is found suitable for another business unit then the candidate may be reconsidered for an opening at kotak securities. experience. The only point to be taken into account is to update the database both in terms of changed qualification of candidate and resumes sent to business manager. The company website is an economical source of recruitment as the internet is catching on potential employees. is sorted as per the requirment and the rest data is kept for meeting the future need. It is comparatively simple and easy to operate. is maintained in a excel sheet format and consists of resumes sent to the business manager with details of candidate‟s profile. The details of position. contact details of staffing partner and minimum qualifications and skills required for the job are given and response is received at e mail address of kotak securities.COMPANY WEBSITE: The open positions are also publicized on website of Kotak Securities. comments of the The response received thus. This is revised on a regular basis. By applying various filters of qualification. The details of candidates are captured in a excel sheet and used as source of database. . interview date etc. This is done through the help of corporate communication department. DATABASE: The database.

as per the need for recruitment consultants are contected these are also economical and simple way of getting candidates 3. On receiving Feedback from LOB. at an early stage those applicants who are clearly unqualified for the job. The purpose of pre-screening is to remove from the pool of candidates.CONSULTANTS: Consultants are another source receiving resume. Interview Scheduling is done telephonically. 6. Pre Screening The resumes received from various sources are to be pre-screened before sending to the business manager. 4. If necessary a Telephonic Interview is taken 7. Selection Process: . Telephonic Pre Screen: The candidate is contacted on phone and relevant details of profile are captured. The Pre-Screened Resumes are sent to LOB / one who needs Manpower 5.

work performance depends on individuals. --Firstly. SELECTION PROCESS AT KOTAK SECURITIES *Selection Tests (For candidates less than 3 years of experience) . --Secondly. the cost incurred in re-recruiting can be avoided if the right personnel are selected in the first place.“Selection is the process of differentiating between applicants in order to identify and hire those with a greater likelihood of success in job.” The role of selection is crucial in any organization for at least. Selection is influenced by several factors. Selection is a long process commencing from preliminary interview of the applicants and ending with the contract of employment. nature of candidate. the attitude of selector or panel of interview. etc. The best way to improve performance is to hire people who have the competence and willingness to work. two reasons.

This examination is compulsory for all employees. The test questions are changed every three months.Depending upon the designation the candidate should be passed in their respective exams . . Language (English) Tests are also conducted.(but these test are not for all designations ) It is also noted if the candidate has qualified the NCFM examination conducted by National Stock Exchange (NSE). Following are tests conducted :Aptitude Tests. The test is conducted only for those candidates with less than three years of experience.**Technical Round of Interview ***HR Round of Interview ****Selection Decision *SELECTION TESTS The tests that are conducted are purely technical and aim at knowing the technical know how of the candidate.

and knowledgeable. . The applicant is also asked to make presentations. unskilled and professional employees. Apart from salary discussions and negotiations. aspirations etc. etc basically those employees are preferred who are skilled. It is considered to be an excellent selection device. skilled. and applicant also learns about Kotak Securities. draw technical diagrams. It allows a two – way exchange of information. where in the technical team asks various technical questions to the applicant. Its popularity is because of its flexibility. Interview is an in-depth formal conversation conducted to evaluate the applicant‟s acceptability. The HR round is to ensure that the candidate and Kotak Securitiesl are not a mismatch in terms of work culture. After discussing the candidature with technical team HR gives its final decision. the technical team learns about the applicant. and time management are assessed in the HR round of interviews.**Technical Round of Interview The most favored selection technique used at Kotak Securities is interview. The selection interview consists of an extensive technical discussion. professional . decision-making skills. ***HR ROUND OF INTERVIEW The HR round of interview is not just a formality. various non – technical abilities such as ability to work under stress. it can be adapted to managerial.

10. selection decision .****SELECTION DECISION After obtaining information through these steps. The HR team also plays a crucial role in the selection process. A job offer is contingent upon the candidate being declared fit after physical examination. Salary Negotiations take place after which Selection is finalized. Joining Date Negotiations 11. Relevant Salary Documents are taken from the candidate to check for Salary fitment. 9. Medical Test After the selection decision and before the job offer made the candidate has to undergo a physical fitness test those recruited above M6 grade and below have to provide fitness certificatefrom doctor in specified manner . . The views of line of managers will be generally considered in the final selection because it is he or she who is responsible for the performance of new employee.the most critical part of all steps must be made. 8.

references are not usually checked until an applicant has successfully reached this stage in the sequential selection process. Offer Release The final step in selection process is job offer. Reference Checks Kotak Securities requests the names. Acceptance of Offer 14. colleagues can act as good references. The offer letter is final confirmation from Kotak Securities as to the person has cleared all selection criteria except the medical test. Previous employers. Reference check serves two purposes .12. This offer is made through an offer letter. Although listed on the application form. addresses and occupations for the purpose of verifying information and perhaps gaining additional background information on an applicant. Following are the contents of offer letter:  Designation  Date of joining  Location and Business Unit  Salary Break Up  Explanation on various components  Timings of office  Documents to be brought while joining  Medical Test to be Conducted 13.

Joining Formalities includes Relevant Documents Submission and Induction of the employee into the Organization. Appointment Letter Release (issued after medical formalities are completed) 16. .  To assess the potential success of a prospect. To gain insight about the potential employee from people who have previous experience with him or her. 15.