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Products & services: y y y y y y y Equities I Bonds I MF I Derivatives Managed Investment Services / PMS Commodities FX Trading Life Insurance General

Insurance Alternative Assets o Private Equity Funds o Structured Products o Real Estate Operation Fund y y Services: y y y y y y y Creation of a customized financial strategy Diversification of assets based on formal process of asset allocation Active tracking, monitoring and reviewing of portfolios Creation of private trusts Tax planning Estate planning Structuring of family wealth Special Situation Oppurtunities Offshore Structures & Global Investments

Service offerings:

capital market

debt capital markets

advisory

private equity

restructuring

Chapter 4 : review of the literature:

Chapter 4: review of literature: Module 1: recruitment & selection Understanding recruitment: Recruitment refers to the process of finding possible candidates for a job or function, undertaken by recruiters. It may be undertaken by an employment agency or a member of staff at the business or organization looking for recruits. Either way it may involve advertising, commonly in recruitment section of a newspaper or in a newspaper dedicated to adverts.

Recruitment is an ongoing process and not confined to formative stages of an organization. Employees leave organization in search of greener pastures , some retire and some die in the saddle. More importantly an enterprise grows, diversifies and takes

over other units-all necessitating hiring of new personnel. In fact the hiring function stops only when the organization ceases to exist. In simple terms recruitment is understood as the process of searching for & obtaining applicants for the jobs, from among whom right people can be selected.

it is the process of finding & attracting capable applicants for employment. The process begins when new recruits are sought and ends when their applications are submitted. The result is a pool of applicants from which new employees are selected. Though, theoretically, recruitment process is said to end with the receipt of applications, in practice the activity extends to the screening of applicants so as to eliminate those who are not qualified for the job.

What is the purpose of recruitment?  Increase the pool of job candidates at minimum cost.  Help increase the success rate of the selection process by reducing the number of under qualified or over qualified job applicants.  Meet the organisations legal nd social obligations regarding the composition of its workforce.  Increase organizational and individual effectiveness in the short and long run.  Evaluate the effectiveness of various recruiting techniques and sources. Why is it important?  Help reduce the probability that job applicants, once recruited and selected, will leave the organization only after a short period of time.  Begin identifying and preparing potential job applicants who will be appropriate candidates. The recruitment life cycle at anand rathi:

Identification of vacancyThe recruitment process is initiated in any organization when a vacancy is identified in any particular unit or vertical of the company. The identification of vacancy is done by: a. Business requirement: the head of the department, generally the VP or the head of the team float a mail to the recruitment team of the HR specifying the profile for which the

candidates are required. All the necessary details relating to that profile such as the ctc that can be offered, total amount of experience and qualifications are specified alongwith the deadline in terms of whether it is urgent to fill that post or there is some stipulated time that can b taken. This is done when the VP feels that there is a need for creating some new post in the team in order to achieve higher targets. b. Replacement: this step is undertaken when a position is vacant in any vertical. Here again the mail is been floated by the team leads to the recruitment team specifying the details of the position and the level of urgency. c. Backup: this step is undertaken by the recruitment team itself if at any point of time they feel that the work pressure is going to increase in the near futureon any particular vertical. They on the basis of their forecast start the process of recruitment for some important positions and keep them as a backup options.

2. understanding the requirement, eligibility criteria, qualifications & experience: When the vacancy is identified, a detailed study on the job description & specification is done by the recruiter. Generally, the person under whom the requirement is, their sends a detailed jd to the recruiter. As I have worked on several profiles of wealth department, so I have made a detailed jd in a prescribed format for those profiles so as to have a clear understanding of all the job related aspects of the profile. Following are the jds of the profiles I have worked on: 1. Relationship Manager: Designation: RM Department: Private Wealth Management Reports to: AVP/VP Primary Duties: y y Acquisition of HNI clients Cross selling of wealth management products such as mutual funds, structured products. y Managing existing relationships with HNI clients.

Achieving revenue targets.

Secondary duties: y Product & process knowledge of wealth business. Ctc offered: Negotiable

2. Telecaller: Designation: Telecaller Department: private wealth management Reports to: Relationship Manager Primary Role: Phone banking :telesales :assisting RM

1. 2. 3. 4. 5.

3) Applying the effective source of recruitment: There are several sources of recruitment which is been used at anand rathi. The are: Job portals Employee referrals Consultancy Campus hiring Head hunting A detailed analysis of the above sources are as follows:

1. Job portals: anand rathi has subscribed with 2 portals . they are: naukri. Com & times job. Amongst them naukri. Com is heavily been used and relied upon. There is a 1 year subscription fees of these portals which is rs for naukri and rs.. for times job. Profiles which are below manager grade, their recruitment is heavily been done through job portals. I have totally made use of naukri.com for shortlisting all the profiles that is mentioned above. 2. Employee referrals: the second best important source of recruitment is employee referrals. Also considered as internal recruitment. Anand rathi has a very structures employee referral policies in place which encourages the employees to suggest their candidates for a particular position. There is a probation period of 3 months. When an employee refers a candidate, than that is candidate is put under a probation period of 3 months. On the basis of his performance during this 3 months period if he gets permanent in the company, than the employee who referred this candidate will get some monetory incentive depending upon the grade for which the referral is done. 3. Consultancy: the use of consultancy is made for those positions whose : a. Requirement is urgent b. Which cannot be shortlisted through job portals. 4. Campus hiring: this source of recruitment is generally used when the requirement of freshers is their. profiles such as CA and CS are generally sourced through campus hiring. 5. Head hunting: in order to map the best talent across the industry, the use of head hunting is made. I did a cold calling to several companies such as HDFC, HSBC and find out the people at VP and AVP positions. This tool is again very effective when you want to hire the best talent in your organization.

% of use

job portals employee referrals consultancy campus hiring head hunting

3. Screening the resumes: After the resumes are shortlisted from any of the above sources, they are then screened on the basis of the organization requirements. 4. Preparing live database: The details of the candidates whose resumes are shortlisted are filled in to the database. The database is maintained in the form of an excel sheet where fpllowing details are filled: a. Sr. no b. Name of the candidate c. Mobile nos. d. Company name e. Designation f. Department g. Current ctc h. Total exp i. Remark (I/NI) j. Status

k. Profile

If the requirement is such that a candidate is 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 anand rathi. By applying various filters of qualification, experience, position or employer, the data in the recruitment database can be made accessible. The only point to be taken in to account is to update the database both in terms of changed qualification of candidate and resumes sent to business manager.

5. conducting telephonic round of interview: the resumes received from various sources are to be pre screened before sending to the business manager. The purpose of pre screening is to remove from the pool of candidates, at an early stage those applicants who are clearly unqualified for the job. Telephonic pre screen: a telephonic interview is conducted which is generally a preliminary round. Here the basic criterias are looked up for eg. Candidates communication skills Knowledge about the profile Is he interested to make a movement Reason behind leaving his current job Expected ctc

Telephonic interview along with job portal as r recruitment source plays a very vital role at anand rathi in terms of doing mapping. I did the wealth mapping for the organization, in which the resumes of all the wealth profiles are shortlisted from naukri.com. than a telephonic round of interview is done on the basis of which a mapping is done of the talented pool in terms ofWhere are they working currently What is their ctc At what position are they currently What is their area of interest Will be interested in making a movement to anand rathi or not?

After collecting information on the basis of the above mentioned parameters, a live database is prepared and maintained for the same. A live database plays a very vital role for the recruiter as you have a handy database of the talent pool existing in the broking industry.ms

The pre screened resumes sre sent to the concerned business head of the department under whom the opening is their for that particular profile.

On receiving the feedback from the business head interview scheduling is done telephonically.

6. scheduling personal interviews with concerned department heads: The candidates who gets cleared in the telephonic round are than called for a personal round of interview. For this interview the concerned department head and the member of the hr team sits and take the interview of the candidate. The parameters at this round differs as per the profile and the requirements of the job. The general parameters are:

7. Shortlisting the candidates: This is the last step of the recruitment process which fulfills the aim of recruitment i.e hiring the best talent in the organization.

Selection process:
selection is the process of differentiating between applicants inorder to identify and hire those with a greater likelihood of success in job.

Employee selection is the process of putting right men on right job. It is a procedure of matching oirganizational requirements with the skills and qualifications of people. Effective selection can be done only when there is effective matching. By selecting best candidate for the required job, the organization will get quality performance of

employees. Moreover, organization will face less absenteeism and employee turnover problems. By selecting right candidate for the required job , organization will also save time and money. Proper screening of candidates takes place during selection procedure. All the potential candidates who apply for the given job are tested.

The role of selection is crucial for any organization for atleast two reasons: -firstly, work performance depends on individuals. The best way to improve performance is to hire people who have the competence and willingness to work. -secondly, the cost incurred in re-recruiting can be avoided if the right personnel are selected in the first place. Selection is a long process commencing from preliminary interview of the applicants and ending with the contract of employment. Selection is influenced by several factors, the attitude of selector or panel of interview, nature of candidate etc.

Selection process at anand rathi financial services ltd.:

Preliminary interview round

Technical round of interview

(feedback)

Background verification check

Hr interview

Selection decision

Salary negotiations

Joining date negotiations

Offer letter release

Acceptance of offer:

Reference checks:

Appointment letter release:

1. Preliminary round of interview: It is basically a telephonic round of interview conducted to judge he candidate on the basic parameters such as the communication skills etc

2. Technical round of interview: All those candidate who are shortlisted in the preliminary round are than called upon for a technical round of interview. It is the most favoured selection technique used at anand

rathi. Interview is an in depth formal conversation conducted to evaluate the applicants acceptability. It is considered to be an excellent selection device. Its popularity is because of its flexibility, it can be adopted to managerial, skilled , unskilled, and professional employees. It allows two way exchange of information, the technical team learns about the applicant, and the applicant also learns about anand rathi.

3. Feedback:

4. Hr round of interview: The hr round of interview is not just a formality. Apart from salary discussions and negotiations, various non-technical abilities such as ability to work under pressure, decision making skills, and time management are assessed in the HR interviews.

The HR round is to ensure that the candidate and anand rathi are not a mismatch in terms of work culture, aspirations etc.

5. Background verification check: (format)

6. Selection decision:

After obtaining information through these steps, selection decision- the most critical part of all steps must be made. The views of business heads will be generally considered in the final selection because he or she who is responsible for the performance of new employee. The HR team also plays a crucial role in the selection process.

Relevant salary documents are taken from the candidate to check for salary fitment.

7. Salary negotiations takes place after which selection is finalized. 8. Joining date negotiations. 9. Offer release:

The final step in selection process is job offer. This offer is made through an offer letter. The offer letter is the final confirmantion from anand rathi as to the person has cleared all selection criteria.

Following are the contents of offer letter: y y y y y y Designation Date of joining Location and business unit Salalry break up Timings of office documents to be brought while joining

10. Acceptance of offer: 11. .Reference checks: Anand Rathi request the names, addresses and occupation for the purpose of verifying information and perhaps gaining additional background information on an applicant. Although listed on the application form, references are not usually checked until an applicant has successfully reached this stag in the sequential selection process. Previous employers , colleagues can act as good references. Reference checks serves two purpose: 1. to gain insight about the potential employee from people who have previous experience with him or her. 2. To assess the potential success of a prospect. 12. Appointment letter release: Joining formalities includes relevant document submission and induction of the employee into the organization: