RECRUITMENT & SELECTION

L&T FINANCIAL SERVICES

A PROJECT SUBMITED TO
UNIVERSITY OF MUMBAI FOR PARTIAL COMPLETION OF THE DEGREE OF
BACHELOR OF MANAGEMENT STUDIES UNDER THE FACULTY OF
COMMERCE

BY

MUNIFA BEGUM

UNDER THE GUIDANCE OF

PROF. MRS BHAGYA SHREE KABRA

S.K.COLLEGE OF SCIENCE AND COMMERCE

PLOT NO -13, SECTOR – 25, SEAWOODS, NERUL (E) NAVI MUMBAI.

ACADEMIC YEAR 2020-2021

1
 A PROJECT ON

RECRUITMENT & SELECTION

L&T FINANCIAL SERVICES

UNIVERSITY OF MUMBAI

SUBMITTED BY: PROJECT GUIDE:

MUNIFA BEGUM PROF. BHAGYA SHREE KABRA
Student Registration No. 2018030041

IN PARTIAL FULFILLMENT FOR THE AWARD OF THE DEGREE OF

“BACHELOR OF MANAGEMENT STUDIES TYBMS”
SEMESTER- VI

S.K. COLLEGE OF SCIENCE AND COMMERCE NERUL,

NAVI MUMBAI 400706
COLLEGE CODE – 874

2
 DECLARATION

I the undersigned Miss / Mr. Munifa Begum Abdul Munir hereby, declare that the
work embodied in this project work titled “RECRUITMENT & SELECTION OF
L&T FINANCIAL SERVICES” forms my own contribution to the research work carried
out under the guidance of PROF. BHAGYA SHREE KABRA is a result of my own
research work and has not been previously submitted to any other University for any
other Degree/ Diploma to this or any other University.
Wherever reference has been made to previous works of others, it has been clearly
indicated as such and included in the bibliography.

I will abide and take all responsibility of all issues related to plagiarism/self-
plagiarism under UNIVERSITY GRANTS COMMISSION (PROMOTION OF
ACADEMIC INTEGRITY AND PREVENTION OF PLAGARISM IN
HIGHER EDUCATIONAL INSTITUTIONS) REGULATIONS, 2018

I, here by further declare that all information of this document has been obtained and
presented in accordance with academic rules and ethical conduct.

SIGNATURE OF LEARNER
Certified by

INTERNAL GUIDE

3
 ACKNOWLEDGEMENT

To list who all have helped me is difficult because they are so

numerous and the depth is so enormous.

I would like to acknowledge the following as being idealistic channels

and fresh dimensions in the completion of this project.

I take this opportunity to thank the University of Mumbai for giving

me chance to do this project.

I would like to thank my Principal, DR. SRIVIDHYA MURALI for

providing the necessary facilities required for completion of this
project.

I take this opportunity to thank our Coordinator MRS. SHIKHA

PANDEY, for her moral support and guidance.

I would also like to express my sincere gratitude towards my project guide

PROF. MRS BHAGYA SHREE KABRA whose guidance and care made
the project successful.

I would like to thank my College Library, for having provided

various reference books and magazines related to my project.

Lastly, I would like to thank each and every person who directly or
indirectly helped me in the completion of the project especially my
Parents and Peers who supported me throughout my project.

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 RECRUITMENT & SELECTION
L&T FINANCIAL SERVICES

5
 INDEX PAGE

SR NO. DESCRIPTION PAGE

NO

1 CHAPTER-1

INTRODUCTION 08

1.1 Abstract/Executive Summary 09

1.2 Purpose/ Objective of the Study 10

1.3 Hypothesis 11

1.4 Conceptual Model 12

1.5 Scope 13

1.6 Limitations 14

2 CHAPTER-2

LITERATURE REVIEW 15

2.1 About Industry 16

2.2 About the company 26

2.3 SWOT Analysis 38

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 3 CHAPTER-3

RESEARCH DESIGN 41

3.1Type of Research 42

3.2 Research Method 42

3.3 Types of Data 42

3.4 Sample Size 42

3.5 Sample Method 43

3.6 Data collection Method 43

4 CHAPTER-4

Classification & Tabulation of Data 44

5 CHAPTER – 5

Analysis & Interpretation of Data 51

6 CHAPTER – 6

Findings, Conclusions & Recommendations 68

7 ANNEXURE : QUESTIONNAIRE 73

8 BIBLIOGRAPHY 78

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 CHAPTER-1

INTRODUCTION

8
 EXECUTIVE SUMMARY

One of the key core values is Respect for People. We believe that employees
are the most valuable asset of the organization and they contribute directly to the
growth and success of the company.
Serve as an enabler for the HR Manager to help understand a standard operating
procedure governed by policies of recruitment.

L&T Financial Services is a leading, diversified Non-Banking Financial Company (NBFC).

It offers a diverse range of financial products and services in rural, housing and
infrastructure-finance sectors. The Company also offers mutual fund products.
L&T Finance Holdings is registered with the Reserve Bank of India Investment Company (CIC).
bank in the country and in Asia.

An effort has been made to study the recruitment and seletion of Employee in
L&T Financial Services. The project also summarizes the aspects that helps in
Recruitment and selection of the employees. Through this project attempt has also been
made to perceive selection of employee in L&T Financial Services.

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 OBJECTIVES OF STUDY

➢ The main objective of the study is to study Employee Recruitment & selection
at L&T Financial Services.
➢ Ensure a similar candidate experience for any individual hired/not hired in
L&T Financial Services across the country and worldwide.
➢ To understand the techniques and strategies used to recruit and select the employees.
➢ Ensure efficient & effective use of our internal resources in managing recruitment process.

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 HYPOTHESIS:

H0: Difficulty in balancing the speed of hire with quality of hire

H1: Creating opportunities for continuous learning & development for better future of employee

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 CONCEPTUAL MODEL

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 SCOPE:

➢ The study is confined to people living in Mumbai. So all the estimation have been
made in city area.

➢ The scope of the study had been limited to Employee recruitment process in
L&T Financial Services.

➢ It does not extend to the other factors which are also important for organization.
➢ The study covers the information about :
A.Recruitment Process
B. Rehiring
C. Near Relations hiring
D. Internal Job Posting

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 LIMITATION:

While preparing the report following were the problem faced-

• Time was major constraint.

• Many people were not able to proviode there time due to this pendimic time.

• Proper data was not available.

• Meeting some of the top management associates in the senior cadre was dificult.

• To maintain secrecy, the company people do not provide actual figures & data.

14
 CHAPTER-2

LITERATURE REVIEW

15
 ABOUT THE INDUSTRY
➢ L&T Financial Services is a leading, diversified Non-Banking Financial Company (NBFC).
It offers a diverse range of financial products and services in rural, housing and and
infrastructure-finance sectors. The Company also offers mutual fund L&T Finance Holdings
is registered with the Reserve Bank of India as a non-deposit-taking Core Investment
Company (CIC).
Built on the foundation of ‘Assurance’, the Company is geared towards generating
perpetual value for all stakeholders. Being a responsible corporate, L&T Financial Services
believes

➢ KEY OFFERINGS
Rural Finance:
Farm Equipment Finance
Two-Wheeler Finance
Micro Loans
Housing Finance:
Home Loans
LAP
Real Estate Finance
Infrastructure Finance
Investment Management

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 ➢ The expertise of this business vertical lies in offering ‘turnkey solutions’ right from
‘concept to commissioning’across the entire spectrum of urban infrastructure.
Powered by dedicated engineering design centres, competency cells,advanced
formwork systems,mechanised project execution, a wide network of consultants
and vendors,digitized project control and a talented pool of employees,the business
is an industry leader in its space in India and in targeted markets overseas.

➢ L&T Financial Services HAS PRESENTLY 230 BRANCHES IN

THE FOLLOWING STATES

➢ Including Head Office and two extension counters at Dubai and Colombo
respectively:

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 Maharashtra Mumbai (17 Branches) Aurangabad (2 Branches)
Kolhapur, Nasik, Pune, Nagpur & Ahmednagar

Gujarat Ahmedabad (3 Branches) Surat, Vadodara & Bhavnagar.

Delhi New Delhi

Uttar Pradesh Allahabad, Lucknow, Agra & Varanasi.

Uttarakhand Dehradun

Rajasthan Alwar, Jaipur & Jodhpur

Andhra Pradesh Vijayawada

Madhya Bhopal
Pradesh

Bihar Patna

West Bengal Kolkata

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 COMPETITORS

There is intense competition among the leading construction companies. Some of the
competitors of BMC Bank:

1.Reliance Capital

2.HDFC Securities

3.Kotak Securities

4.Icici Securities

5.Aditya Birla Capitals

6.Edelweiss

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 1. Reliance Capital

Reliance Capital Limited is an Indian diversified financial services holding company promoted
by Reliance Anil Dhirubhai Ambani Group. Reliance Capital a constituent of Nifty Midcap 50
and MSCI Global Small Cap Index, is a part of the Reliance Group. It is amongst India's leading
and most valuable financial services companies in the private sector. As on 31 March 2017
the net worth of the company stood at Rs 16,548 crore, while its total assets as on the date stood
at Rs 82,209 crore.In Fortune India 500 list of 2018, Reliance Capital was ranked as the
77th largest corporation in India with 5th rank in 'Non-Banking Finance' category.
2019.

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 2. HDFC Securites:

HDFC securities Limited is one of the popular financial services intermediary and a subsidiary k
of HDFC Bank. a private sector bank in India . This is one of the most leading stock broking
companies in Indian and still now have completed 18 years of operation. HDFC securities was
established in 2000 and is headquartered in Mumbai withlots of branches across major all cities
and towns in India.

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 3. Kotak Securitie:

Kotak Securities Limited (KSL) is a wholly owned subsidiary and the stock broking arm of
Kotak Mahindra Bank Limited The broking company processes over 6,00,000 secondary market
trades every day. KSL has a pan-India presence - 1,325 branches, franchisees representative
offices, and satellite offices across 351 cities. KSL offers a wide range of financial products
such as Stocks and Shares, Derivatives, distribution of IPOs Mutual Funds and Insurance.

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 4.ICICI Securities:
ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Ltd. The company began its
operation in May 1995 and continues to grow its operation through expanding its client base
and providing different type of services. I-Sec operates www.icicidirect.com, a virtual financial
supermarket, meeting the three need sets of its clients - investments, protection, and borrowing.
Through its four lines of businesses -- broking, distribution of financial products,
wealth management, and investment banking-- I-Sec serves customers ranging from the retail
and institutional investors to corporates to high net-worth individuals to government.

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 5.Aditya Birla Capitals :
Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses
of the Aditya Birla Group.ABCL’s subsidiaries have a strong presence across Protecting,
Investing and Financing solutions, ABCL is a universal financial solutions group catering to
diverse needs of its customers across their life stages. Powered by more than 21,000 employees,
the subsidiaries of ABCL have a nationwide reach with 800+ branches and more than 2,00,000
agents / channel partners and several bank partners.As of September 30th, 2020,
Aditya Birla Capital Limited manages aggregate assets under management around Rs. 3000 billion,
has a consolidated lending book of over Rs. 575 billion, and an active customer base of over
20 million, through its subsidiaries and joint ventures.

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 6.Edelweiss:
Edelweiss Broking Limited is an Indian Financial services company based in Mumbai, India.
The company is a subsidiary of Edelweiss Group which was founded by Rashesh Shah.
The company is registered with National Stock Exchange of India, Bombay Stock Exchange
and MCX Stock Exchange. It acts as a mutual fund distributor
Edelweiss Broking limited was publicly incorporated on 7 February, 2008 after Edelweiss Group
had received final regulatory approval from the Securities and Exchange Board of India (SEBI)
to start its mutual fund business by 2008. The Stockbroker acquired retail broker Anagram
Capital Limited in Jan 2010. On 12 December, 2012 the company was listed under National
stock Exchange with registration. It was listed in MCX Stock Exchange Limited.

25
 ABOUT THE COMPANY

History

➢ L&T Financial Services's Infra Finance is backed by L&T Finance Holdings, a part of
Larsen & Toubro Limited. We were incorporated as a Non Banking Financial Company
(NBFC) in 2006, under the Reserve Bank of India (RBI) Act 1934.
.

➢ In a short span of just 10 years, we have establised ourselves as an Infrastructure Finance

Company (IFC), as given by RBI. Since 2011, we have been also stated as Public Finance
Institution (PFI) by the Ministry of Corporate Affairs.

➢ We have a solid expertise in debt advisory and debt arranging, capital raising,
advisory services, corporate and project advisory and strategic advisory services.
Our extensive knowledge-based work culture and our ability to understand your needs
helps us stand apart.

➢ Company History - L&T Finance Holdings Ltd. Our Company was originally incorporated
as L&T Capital Holdings Limited on May 1, 2008 under the Companies Act, as a public
limited company, to carry on the business of investment/finance. Our Company received the
certificate of commencement of business on May 15, 2008.

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 COMPANY PROFILE

➢ L&T Financial Services (LTFS) is one of India’s leading NBFC brands offering a
diverse range of financial products and services across rural, housing and infrastructure finance
sector. It also offers mutual fund products and investment management services.

➢ Basic Information :

Company Name – L&T Financial Services.

Headquarters - Mumbai
Founded - 2006
Founder - Mr. Suneet Maheshwari, N Shivaraman and YMD Desotale.
Type of Business – Non Banking and Finance
Areas Served - India
Address – Brindavan, Plot no. 177,CST Road, Kalina,Santacruz (East)
Mumbai- 400098.

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 ➢ Why L&T Financial Services:

To be an admired and inspirational financial institution, creating sustainable

value for all our stakeholders.
remittance, issue of letter of credit inland and foreign and services charges.
We are also provide various home loans like loan @ 8.75%, gold loan
@10.50%, savings account current account,
We encourage and support of the long term growth and the development of
our people by providing them opportunities for personal growth and career
development.
We are committed to meet employees and customers demand on time. We use
the best technologies available and continuously upgrade our system and
optimum usage of resources.

➢ Vision:

To develop and deliver high quality education and research in project

management in consonance with the vision of LTFS by providing state-of-the-art
infrastructure and learner. friendly atmosphere with innovative pedagogy thereby
creating a pool of world class and socially responsible project professionals.
the company to attain and sustain leadership position for over seven decades.
➢ Mission:
LTFS comprises financial products and services from the L&T Group of Companies.
L&T is a professionally managed Indian multinational, committed to a strong,
customer-focused approach and its constant quest for top-class quality has enabled

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 Board of Directors

The general superintendence, direction and management of our affairs and business are vested in our Board of
Directors. As on the date of this Draft Shelf Prospectus, we have four Directors on our Board.

No Director of our Company is a director or is otherwise associated in any manner with, any company that appears
in the list of the vanishing companies as maintained by the Ministry of Corporate Affairs, defaulter list maintained

Name, Designation,
Age, DIN, PAN,
Date of
occupation and Nationality Address Other Directorships
Appointment
Term of
Appointment
Mr. Dinanath Indian December 31, 1703, 1704, 17th Floor, 1. L&T Finance Holdings
Mohandas Dubhashi, 2012 Tower T3, Emerald Limited 2. L&T Infra
Designation: Isle, Saki Vihar Road, Investment Partners
Chairperson and Powai, Mumbai -400 Advisory Private Limited 3.
Non-Executive 072 L&T Housing Finance
Director Age:52 Limited 4. L&T Infra Debt
DIN: 03545900 Fund Limited. 5. L&T
PAN: AAEPD9649J Infrastructure Finance Co.
Term of Limited. 6. L&T Capital
Appointment: Liable Markets Limited 7. L&T
to retire by rotation Investment Management
Limited
Dr. (Mrs) Rajani Indian March 20, 10, Dream Residency, 1. L&T Finance Holdings
Rajiv Gupte 2015 128, Anand Park, Limited 2. L & T Housing
Designation: Aundh, Pune – Finance Limited 3.
Independent Director 411007. Symbiosis Centre for
Age: 63 DIN: Entrepreneurship and
03172965 PAN: Innovation 4. National
ABDPG8127G Term Securities Depository
of Appointment: Five Limited
years commencing
from March 20,
2015.
Mr. Pradeep Indian March 18, D-1/ 48, First Floor, 1. L&T Finance Holdings
Vasudeo Bhide 2017 Vasant Vihar, New Limited 2. L&T Housing
Designation: Delhi – 110 057 Finance Limited 3. Nocil
Independent Director Limited 4. Glaxosmithkline
Age: 69 DIN: Pharmaceuticals Limited 5.
03304262 PAN: A.P.I.D.C. Venture Capital
ADYPB4012C Term Private Limited 6.
of Appointment: Five Heidelbergcement India
years Limited.

29
 ➢ Social Responsibility:
The CSR Governance structure comprises of the Board, CSR Committee of the
Board and the CSR team.

The Board:

The Board of Directors of the Company will:

 Approve the CSR Policy of the Company
 Ensure spend of 2% of average net profits
 Disclose the content of the CSR Policy in its report and place the Policy on the Company’s
website as prescribed under Section 135 of the Companies Act 2013 read with the
Companies (Corporate Social Responsibility Policy) Rules, 2014
 Specify reasons in its report for not spending the earmarked amount in case the Company
fails to spend such amount
 The Board will form the CSR Committee in accordance with the requirements of the
Companies Act 2013

CSR Committee of the Board:

Responsibility of the CSR Committee:

 Formulate and recommend the CSR Policy to the Board for approval
 Ensure that the social programmes undertaken are aligned to the CSR Policy of the
Company
 Recommend the amount of expenditure to be incurred on CSR programmes
 Constitute transparent monitoring mechanism for ensuring implementation of the CSR
programme
 Allocate the programmes to the CSR Team to implement the same
 Submit quarterly reports to the Board of Directors

CSR Team:

Responsibilities of the CSR Team:

 Spread awareness regarding the approved CSR policy
 Provide guidance to Units CSR teams to ensure that all CSR programmes are aligned with
Company’s CSR policy
 Recommend programmes to be undertaken during the financial year to the CSR Committee
of the Board
 Facilitate effective implementation of CSR policy at all locations
 Promote synergy at all locations and share best practices to achieve desired outcome for
community development
 Develop measurable benchmarks and get the same approved by the CSR Committee

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 ABOUT RECRUITMENT & SELECTION
The seven stages of Recruitment:
1) Prepping for Your Ideal Candidate
Just as important as getting applicants to your job by posting it, is getting the RIGHT candidates to
apply. Volume without quality equals a lot of time spent on unproductive administrative work, and
either no hire or the wrong hire. Spend some time sharpening your axe before you start chopping at
a tree. Develop an ideal candidate profile first. Otherwise you’ll be doing what is called “post and
pray.”

2) Sourcing and Attracting Talent

This stage is about being resourceful and focusing on the candidate experience. Don’t frustrate
candidates by not responding to and communicating with them, by taking too long to make a
decision, by creating too many hoops to jump through, or by having unrealistic
expectations. Develop a process that is efficient, communicative, standardized, and reportable by
investing in a modern Applicant Tracking System (ATS) There are several basic low-cost ones out
there to choose from, and you can work with one of their representatives to set it up and configure
a workflow.

3) Converting Applicants
On a very basic reporting level, you can evaluate your process by looking at what are called
conversion rates, or click through rates. This is the number or percentage of people that move from
one step to the next. If you have a step that has high fallout or no fallout, you may be getting too
few or too many out the back end. If a step has high fallout, you can re-evaluate if the step is
screening out too many people unnecessarily.

4) Selecting and Screening Candidates

When it comes to the selection process it’s important to be diverse and set expectations. Explain
the full hiring process to each candidate you speak with, so they know what to expect, what the steps
are, who they will speak with, how long it will take, and how to prepare. Be as respectful of their
time as you’ll expect them to be of yours.

5) The Interview Process

Focus on efficient convenient scheduling. Speed really counts in this step. Eliminate the time and
effort of going back and forth to coordinate phone screen or interview dates and times by using a

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 calendaring app like Calendly or go a step further and purchase an interview scheduling tool. You
set aside blocks of time that you or your team can be available and allow candidates to self-schedule
into into any of the slots that work with their schedule. It’s a good idea to offer slots during lunch
time or outside of normal working hours to accommodate those who are currently employed.

6) Reference Check
Don’t dismiss top contenders until you have an accepted offer with all conditions met and a start
date (salary/schedule accepted, references checked, background check/drug screen complete).
Know that anything can happen and often will. Candidates will change their mind, accept a counter-
offer, or fail pre-employment testing. When that happens, you’ll want to have your backup
candidates warm and ready to go. Keep in touch with them, even just to let them know you don’t
have any updates yet, but they are still actively under consideration. Once you reject them, it’s
harder to bring them back.

7) Onboarding
Lastly, onboarding! This area is frequently overlooked and your best opportunity for all that hard
work to go to waste. It’s kind of like a murky grey area that is the handoff between Recruiting and
Operations. If you don’t make sure that you have a strong onboarding program that involves
training, mentorship, information, and necessary resources, you will wind up with hires that feel not
welcomed, not trained, and in a job that is not what they were sold. I recommend digitizing all parts
of onboarding especially now that most of us are working remotely. Let candidates receive and sign
their HR paperwork electronically. They will certainly thank you for it.

The seven stages of Selection:

1. Application
After the job opening has been posted, candidates can apply. The amount of people applying depends
on the company, the specific function, and the availability of work and workers.
The number of applicants can range between zero and thousands, depending primarily on the size of
the company, the type of job and the industry, and on how successful your sourcing strategy and
employer brand are. Google, for example, receives around 3 million applications a year. This means
that on average more than 400 people apply per job opening.

2. Screening & pre-selection

Resume screening. The most commonly known technique is resume or CV screening. Resume
screening helps to assess if candidates comply with the criteria needed for the job. If you require 5+

32
 years of work experience and you see that a college graduate applied, you can easily disqualify this
person. Thankfully, there are great tools available that can do the resume screening for you, ranging
from built-in resume screening tools that are part of an ATS to resume screeners that use artificial
intelligence to predict the quality of hire.
Phone screening/ chatbot. After the resume screening, often a phone screening happens. This helps
to align expectations between the candidate and employer. The recruiter can ask the questions they
had after screening the candidate’s resume. In addition, the recruiter can walk through a checklist
that may include topics like pay expectations, full time or flexible commitment, starting date, and
other potential deal-breakers. Since this is a fairly standard procedure, having a chatbot ask these
questions is also an option.
Pre-selection. Pre-selection is a powerful screening method that helps to weed out potential
mismatches. Pre-selection tools provide assessments that can include cognitive testing, a job sample,
or other tests that help to predict the quality of the new hire. Sometimes the resume screening is
included in these tools. Pre-employment assessment tools often also include a realistic job preview.
This shows both the positive but also the negative sides of the job, resulting in a more truthful
description of the good and bad aspects of a given job. This helps to align expectations between
employer and employee and leads to better hires.

3. Interview
The third step in the funnel is the best known and most visible of them all: the job interview. The
job interview involves the candidate being interviewed by their direct manager or the recruiter to
assess how well-suited they are for the job.
The interview offers some insight into a person’s verbal fluency and sociability. It also provides the
opportunity to ask the candidate questions related to the job and it presents the opportunity to sell
the job to the candidate.
There are two kinds of interviews, the unstructured and structured interview. In a structured
interview, a standardized set of questions is used. This provides the interviewer with a uniform
method of recording information and standardizing the rating of the applicant’s qualifications.

4. Assessment
We already briefly discussed assessments in the second step. Where the pre-selection, or screening,
is used to roughly weed out the least suitable candidates, the full assessment usually is more accurate
(although pre-employment assessments can be very accurate too nowadays). When used well it is a
highly accurate and reliable tool to select the best candidates. Indeed, the scientific literature shows
that an assessment is just as reliable in predicting job performance as the structured interview!

33
 5. References and background check
In this stage, you have reduced the long list of candidates to a shortlist of one to three candidates.
An essential step is the reference check.
Reference checks are a way to confirm your perception of the candidate. Ask the candidate to give
you references and follow up on these. If during the interview you have doubts about a certain
competency or skill, the reference check is an excellent way to gather more information from
different perspectives.

6. Decision
The next step is making the decision and choosing the candidate with the greatest future potential
for the organization. Sometimes this means picking someone less qualified at the moment – but who
is committed to growing and staying with the organization longer.
The decision is best made based on a data-driven approach. In practice, this means pre-defined
criteria on which each candidate is rated during the selection process. The best candidate is then
chosen and given an offer.

7. Job offer & contract

After the company has made the decision, the selection process isn’t over. The candidate still needs
to accept the offer.
At this point, the organization should have all the information that will make the candidate say yes.
This has been retrieved during the phone screening and job interview.
The offer is then made to the candidate. If the offer is accepted a contract is drawn and signed. Only
when the employment contract is signed by all parties, will the selection process be completed.

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 SWOT Analysis

SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses,
Opportunities and Threats involved in a project or in a business venture. It involves
specifying the objective of the business venture or project and identifying the internal and
external factors that are favorable and unfavorable to achieve that objective. A SWOT
analysis may be incorporated into the strategic planning model.

35
 Strengths in the SWOT Analysis of LTFS:
Strong Brand Name in construction and manufacturing in India: LTFS has a strong brand name in
India in the field of construction and manufacturing which enhances its trust on its clients. LTFS
has handled various large scale projects in India and has successfully created a trustworthy brand
name which is very important especially in the construction industry.
Competitive advantage: LTFS is one of the most respected companies in India for engineering for
its custom made technology-intensive equipment and systems. With the strong brand name and
strong manufacturing facilities, LTFS holds a competitive advantage.
Technical expertise: LTFS capabilities support its design and manufacturing capabilities and provide
an expertise in engineering and project management. LTFS Technical expertise provides a
competitive advantage to the company.
Strong financial position: LTFS financial position has been improving from the past few years with
company’s total assets growing at a CAGR of 18% and its total capital grew at a CAGR of 12%
from FY2011-15. Improving financial conditions provides a cushion at the time of adverse market
conditions.

Weaknesses in the SWOT Analysis of LTFS:

Dependence on Indian market: Indian market contributes over 65% of its total revenues and thus
makes LTFS largely dependent on the Indian market. Overdependence on a particular market makes
the company vulnerable to any fluctuations in the Indian market.
increasing debt: LTFS’s debts have been increasing steadily for the past few years. LTFS’s debt has
increased from INR 98960 million in FY2011 to INR 136090 in FY2016. Increasing debts impact
company’s financial flexibility

36
 Opportunities in the SWOT Analysis of LTFS:
Growth in Indian construction and engineering industry: The Indian construction and engineering
industry grew by 8% year on year. With expected high government and private spending on
infrastructure in the next 10 years on smart cities, metro projects etc. LTFS is well placed to leverage
the opportunity created in the industry.
Strong order book position: LTFS has won various contracts in the recent past and secured new
orders worth more than $20000 million in the year 2015-16 which showed a growth of over 7% over
the year.

Threats in the SWOT Analysis of LTFS:

Extensive environmental regulations: LTFS is subject to follow extensive environmental regulations
relating to health, pollution, waste disposal etc. These regulations increase compliance cost for the
company.
Low Oil prices affect the industry: With oil prices decreasing, various drilling projects have been
stopped and expansion plans have been scaled back. This affects growth opportunity for the
company and the industry.
GST impact can be negative: The cost of under construction buildings are expected to increase with
GST and it will have an overall negative impact on the construction industry.

37
 CHAPTER-3

RESEARCH DESIGN

38
 3.1 Type of research: Descriptive research

Descriptive research can be explained as a statement of affairs as they are at present with the
researcher having no control over variable. Moreover, “descriptive studies may be
characterized as simply the attempt to determine, describe or identify what is, while
analytical research attempts to establish why it is that way or how it came to be. It is Random
Research in which all the questionnaires are distributed among the customers who have
visited/used this product or service, by ensuring that all the answered answers will be kept
confidential. Through this type of Research it made easy to analysis.

3.2 Research method:

Survey and Questionnaire

3.3 Type of data:

The sources of data include both primary and secondary data

➢ PRIMARY DATA: Primary data is collected with specific objective, especially to

address the research problem. The data is gathered by distributing a questionnaire to
the employeesinthe above mentioned company.
➢ SECONDARY DATA: Books, Journal &Internet.

3.4 Sample size:

The sample size taken for the study is 40.

39
 3.5 Sample Method:

To obtain the representative sample, a non-probability sample can be drawn. In this study the
method of selecting sample is random i.e. it is non probable. Non-probability sampling is
a sampling technique where the samples are gathered in a process that does not give all the
individuals in the population equal chances of being selected.

3.6 Data Collection Method:

The tools used for analyzing data are rating method graphs, pie chart etc. Questionnaire is
distributed to the individual respondent and special care has been taken to make him/ her feel
comfortable so that, he/she could answer all the questions. This method is followed to get
unbiased answers.

40
 CHAPTER-4

Classification and Tabulation of Data

41
 Q1. Does the selection methods used by the Organization are reliable?

Opinions Rate %

Yes 98.8%

No 9.2%

Q2. Does the Job Responsibilities and Job Description are clearly defined to the
candidates appearing for selection process ?

Opinions Rate %

Yes 86.7%

No 13.3%

Q3. Does the organization do proper Job Analysis before Selection Process begins?

Opinions Rate %

Yes 78.7%

No 21.3%

Q4. Do you think organization looks for experienced employees in selection Process?

Opinions Rate %

Yes 74.7%

No 25.3%

42
 Q5. Do you think organization is using satisfactory methods of interview?

Opinions Rate %

Yes 69.3%

No 30.7%

Q6. Is the Resume screening and Shortlisting method used by the organization is
satisfactory?

Opinions Rate %

Yes 74.7%

No 25.3%

Q7. Does the organization do employee verification before and after selection?

Opinions Rate %

Yes 76%

No 24%

Q8. Which is the most important quality the organization looks for in a candidate?

Opinions Rate %

Knowledge 42.7%

Past Experience 58.7%

Optimistic Nature 21.3%

Discipline 21.3%

Team Work Ability 17.3%

Other 1.3%

43
 Q9. Rate how well HR finds good candidates from non-traditional sources when
necessary?

Opinions Rate %

Poor 26.4%

Adequate 48.6%

Excellent 28.4%

Q10. Please tick the period of time you have worked here?

Opinions Rate %

0 to 6 month 31.1%

6 to 1 year 35.1%

2 to 5 years 23%

6 to 10 years 12.2

Q11. Did you have any internal influence which may have helped you get the job?
(e.g Friend or family member)

Opinions Rate %

Yes 75.7%

No 24.3%

Q12. Did you know during the interview that you were going to get the job?

Opinions Rate %

Yes 68%

No 32%

44
 Q13. Were you told during the interview that the job was yours?

Opinions Rate %

Yes 64%

No 36%

Q14. Have you ever helped somebody get a job here?

Opinions Rate %

Yes 69.3%

No 30.7%

Q15. Prior to being hired had you seen the job specification so you would know
what the job entailed?

Opinions Rate %

Yes 74.7%

No 25.3%

Q16. Currently there is no individual specifications, do you think there should be

one?

Opinions Rate %

Yes 69.3%

No 30.7%

45
 Q17. Can you remember who interviewed you?

Opinions Rate %

Yes 68%

No 32%

Q18. Did you do previous research on the company before the interview?

Opinions Rate %

Yes 65.3

No 34.7%

Q19. Did recruiter explained me the roles and responsibilities quite clearly

Opinions Rate %

Yes 72%

No 28%

20. Did recruiter spent the right amount of time explaining the job details to you

Opinions Rate %

Yes 77.3%

No 22.7%

46
 CHAPTER-5

ANALYSIS AND
INTERPRETATION

47
 Interpretation:

From the above data we can interpret that:

90.8% of the respondants are reliable with the organisation's selection method

9.2% of the respondants are not reliable with the organisation's selection method

48
 Interpretation:

From the above data we can interpret that:

86.7% of the respondents were clearly defined with the job responsibilities and job description
while selection process

13.3% of the respondents were not clearly defined with the job responsibilities and job
description while selection process

49
 Interpretation:

From the above data we can interpret that:

78.7% of the respondents are satisfied with the job analysis before selection process

21.3% of the respondents are not satisfied with the job analysis before selection process

50
 Interpretation:

From the above data we can interpret that:

74.7% of the respondants thinks that the organization looks for experienced
employees in selection process

25.3% of the respondants don’t thinks that the organization looks for experienced
employees in selection process

51
 Interpretation:

From the above data we can interpret that:

69.3% of the respondents are satisfied with the method of interview

30.7% of the respondents are not satisfied with the method of interview

52
 Interpretation:

From the above data we can interpret that:

74.7% of the respondents are satisfied with the resume screening and shortlisting
method used by the organisation

25.3% of the respondents are not satisfied with the resume screening and shortlisting
method used by the organisation

53
 Interpretation:

From the above data we can interpret that:

76% of the respondents have agreed that the organisation does employee verification
before and after selection

24% of the respondents have not agreed that the organisation does employee verification
before and after selection

54
 Interpretation:

From the above data we can interpret that:

32% of the respondants refers knowledge as the most important quality the organisation
looks for in a candidate

44% of the respondants refers past experience as the most important quality the
organisation looks for in a candidate

16% of the respondants refers optimistic nature as the most important quality the
organisation looks for in a candidate

16% of the respondants refers discipline as the most important quality the organisation
looks for in a candidate

13% of the respondants refers team work ability as the most important quality the
organisation looks for in a candidate

1% of the respondants refers other factor as the most important quality the organisation
looks for in a candidate

55
 Interpretation:

From the above data we can interpret that:

48.6% of the respondents refers to poor

28.4% of the respondents refers to adequate

23% of the respondents refers to excellent

56
 Interpretation:

From the above data we can interpret that:

23% of the respondents working for 0 to 6 months with the company

26% of the respondents working for 6 to 1 year with the company

17% of the respondents working for 2 to 5 years with the company

9% of the respondents working for 6 to 10 years with the company

57
 Interpretation:

From the above data we can interpret that:

75.7% of the respondents have internal influence which had helped them to get the job

24.3% of the respondents don’t have any internal influence which had helped them to
get the job

58
 Interpretation:

From the above data we can interpret that:

68% of the respondents had known during the interview that they were going to get the job

32% of the respondents had not known during the interview that they were going to
get the job

59
 Interpretation:

From the above data we can interpret that:

64% of the respondents were told during the interview that they got the job

36% of the respondents were not told during the interview that they got the job

60
 Interpretation:

From the above data we can interpret that:

69.3% of the respondents have helped others to get a job here

30.7% of the respondents have not helped others to get a job here

61
 Interpretation:

From the above data we can interpret that:

74.7% of the respondents had seen the job specification prior being hired so they would
know what the job entailed

25.3% of the respondents had not seen the job specification prior being hired so they
would know what the job entailed

62
 Interpretation:

From the above data we can interpret that:

69.3% of the respondents thinks that there should be individual specifications

30.7% of the respondents thinks that there should not be individual specifications

63
 Interpretation:

From the above data we can interpret that:

68% of the respondents remembered who interviewed them

32% of the respondents don’t remembered who interviewed them

64
 Interpretation:

From the above data we can interpret that:

65.3% of the respondents had done previous research on the company before
the interview

34.7% of the respondents had not done previous research on the company before
the interview

65
 Interpretation:

From the above data we can interpret that:

72% of the respondents had explained the roles and responsibilities quite clearly
by the recruiter

28% of the respondents had not explained the roles and responsibilities quite clearly
by the recruiter

66
 Interpretation:

From the above data we can interpret that:

77.3% of the respondents agreed that the recruiter spent the right amount of time
explaining the job details to them

22.7% of the respondents didn’t agreed that the recruiter spent the right amount of
time explaining the job details to them

67
 CHAPTER-6

Findings, Recommendation &

Conclusion

68
 FINDINGS

➢ From our overall study we found that:

1. 90.8% of the respondents are reliable with the organisation's selection method

2. 86.7% of the respondents were clearly defined with the job responsibilities and job description

while selection process

3. 78.7% of the respondents are satisfied with the job analysis before selection process

4. 74.7% of the respondents thinks that the organization looks for experienced employees in

selection process

5. 69.3% of the respondents are satisfied with the method of interview

6. 74.7% of the respondents are satisfied with the resume screening and shortlisting method used

by the organisation

7. 76% of the respondents have agreed that the organisation does employee verification before

and after selection

8. 44% is the major response where respondents refer past experience as the most important

quality the organisation looks for in a candidate

9. 48.6% is the major response where respondents refer to poor

10. 26% is the major response where respondents working for 6 to 1 year with the company

11. 75.7% of the respondents have internal influence which had helped them to get the job

12. 68% of the respondents had known during the interview that they were going to get the job

13. 64% of the respondents were told during the interview that they got the job

14. 69.3% of the respondents have helped others to get a job here
15. 74.7% of the respondents had seen the job specification prior being hired so they would know

what the job entailed

16. 69.3% of the respondents thinks that there should be individual specifications

17. 68% of the respondents remembered who interviewed them

18. 65.3% of the respondents had done previous research on the company before the interview

19. 72% of the respondents had explained the roles and responsibilities quite clearly by the

recruiter

20. 77.3% of the respondents agreed that the recruiter spent the right amount of time explaining

the job details to them

 RECOMMENDATION AND SUGGESTIONS

❖ Focus on proper employee verification before and after selection process.

❖ This process should include several key factors to ensure a small business not only
complies with internal policies but also with local, state and federal regulations.

❖ Use a press release to promote your presence and ensure the awareness.

❖ Build grievance redressal cell to maintain holistic relations.

❖ Promote the new selection process with the help of social media.

❖ Policies and procedures should be defined and adhered to for the recruiting and
selection process.

❖ Each job description should include the skills and education required to perform each role
successfully, as well as a detailed list of responsibilities.

❖ Choosing the right candidate is an important decision. While some people may
have the right history, they have the wrong attitude.

❖ Explain the roles and responsibilities quite clearly.

❖ Focus on outcomes not on hours of work.

71
 CONCLUSION

Finally, from the project we can conclude that:

➢ After a conducted survey on recruitment and selection process in L&T Financial

Services I have come to the conclusion that ‘LTFS’ is a well- established,
growing and successful Financial institutional in the Finance sector and is well known for
its broad range of financial and social services.

➢ The LTFS has good reputation in the mind of general public as they believe in
fulfilling man’s primary requirement of Infrastructure Finance, Funds, investments
and many more.
-

➢ LTFS comprises financial products and services from the L&T Group of Companies.
L&T is a professionally managed Indian multinational, committed to a strong,
customer-focused approach and its constant quest for top-class quality has enabled
the company to attain and sustain leadership position for over seven decades.

➢ Finally, better recruitment and selection strategies result in improved organizational

outcomes. The more effectively organizations recruit and select candidates, the more likely
they are to hire and retain satisfied employees. In addition, the effectiveness of an
organization's selection system can influence bottom-line business outcomes, such as
productivity and financial performance. Hence, investing in the development of a
comprehensive and valid selection system is money well spent.

Above all, the process recruitment & selection has all the way become more difficult.
Since the organizations want to hire more talented and effective employees and can create
a difference in the interest of the organization. The organizations have adopted different
methods of recruiting a candidate.

72
 ANNEXURE: QUESTIONNAIRE

1. Does the selection methods used by the Organization are reliable? ________
YES
NO

2. Does the Job Responsibilities and Job Description are clearly defined to the candidates
appearing for selection process?_______

YES
NO

3. Does the organization do proper Job Analysis before Selection Process begins?______
YES
NO

4. Do you think organization looks for experienced employees in selection

Process?__________

YES
NO

5. Do you think organization is using satisfactory methods of interview?______________

YES
NO

73
 6. Is the Resume screening and Shortlisting method used by the organization is
satisfactory? ___________

YES
NO

7. Does the organization do employee verification before and after selection? ____________
YES
NO

8. Which is the most important quality the organization looks for in a candidate?__________

Knowledge
Past Experience
Optimistic Nature
Discipline
Team Work Ability
Other

9. Rate how well HR finds good candidates from non-traditional sources

when necessary? _______________

Poor
Adequate
Excellent

74
 10. Please tick the period of time you have worked here? ________
0 to 6 month
6 to 1 year
2 to 5 years
6 to 10 years

11. Did you have any internal influence which may have helped you get the job?
(e.g Friend or family member)______________
YES
NO

12. Did you know during the interview that you were going to get the job?____________
YES
NO

13. Were you told during the interview that the job was yours? ____________

YES
NO

75
 14. Have you ever helped somebody get a job here?_________

YES
NO

15. Prior to being hired had you seen the job specification so you would know what the
job entailed? ________________

YES
NO

16. Currently there is no individual specifications, do you think there should be one?________
YES
NO

17. Can you remember who interviewed you?

YES
NO

18. Did you do previous research on the company before the interview?___________

YES
NO

19. Did recruiter explained me the roles and responsibilities quite clearly?__________

YES
NO

20. Did recruiter spent the right amount of time explaining the job details to you?_________

YES
NO

76
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