A SUMMER TRAINING REPORT ON RECRUITMENT AND SELECTION IN SHAREKHAN LIMITED

SHAREKHAN LIMITED

SUBMITTED IN THE PARTIAL FULFILLMENT OF THE REQUIREMENT OF BACHELORS OF BUSINESS ADMINISTRATION (MBA) MAHARISHI DAYANAND UNIVERSITY, ROHTAK TRAINING SUPERVISOR: MR. RAVI VERMA (Assistant Manager) SUBMITTED BY: MR. HARSH SOLANKI Enrollment No. 08511237046

SESSION: 2011 2013 MAHARISHI DAYANAND UNIVERSITY, ROHTAK

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ACKNOWLEDGEMENT

This project was completed with the help of many very people. Hence, I would like to acknowledge all of their valuable support and convey my humble gratitude to them. I want to thank Head of DIHE, MS. Sheelu Sharma and Mr. Sheshadev Nayak for their support. I have put my sincere efforts to accomplish my objective within given time. My project report is on Recruitment and Selection in Sharekhan Ltd. Despite all the limitations, I have worked to my potential to achieve the desired goal. I have prepared this report taking into consideration its clarity and continuity. I am thankful to the staff members at Sharekhan Ltd that allowed me to study and research on the operations of the company. They demonstrated how the daily activities take place in the share market along with how to handle complaining customers. My special thanks go to Mr. Ravi Verma (Assistant Manager) whose supervision and feedback was necessary during the training session.

(signature of the student)

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EXECUTIVE SUMMARY
Conceptually the mechanism of stock market is very simple. People who are exposed to the same risk come together and agree that if anyone of the person suffers loss the other will share the loss & make good to the person who lost. The initial part of the project focuses on the job & responsibilities. I was allotted as a summer trainee. I also make the readers aware about the techniques & methodology used to bring this report alive. Though India has a very big untapped market but the players will not flourish unless they change the way the customers are being served. Given the awareness level of today customers every player has to treat with care and make the customer feel that he is the king. Number of Online Share trader in India has crossed the line. More and more customers are coming under this umbrella and many of the existing one are changing pavilion. So customers retention and satisfaction is now more important as it was before. Players keep coming with new schemes in order to attract new customers and retain the existing one. This is being supplemented with increased advertising and brand building efforts. Success of any organization depends upon its being proactive. I consider lucky as I got an opportunity to work with Sharekhan Ltd which is showing phenomenal growth and success in the Securities. This project is an effort to do a depth study and analysis of recruitment and selection processes used at the company.

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Table of contents
Page no.
Chapter 1 Introduction: 1.1) General Introduction about the Sector 1.2) Industry Profile: A. Origin and Development of the Industry B. Growth and present status of the Industry C. Future of the Industry Chapter 2 Profile of the Organization: 2.1) 2.2) 2.3) 2.4) Origin of the Organization Growth and Development of the Organization Present status of the Organization Functional departments of the Organization 20 1 9-29 9 1-8

2.5) Organization structure and Organization Chart 2.6) Products and Service Profile of the Organization Chapter 3 Discussion on Training 3.1 Students Work Profile 3.2 Key Learning Chapter 4 Study of the Selected Research Problem 30-52

Chapter 5

Analysis

5.1Analysis of Data 5.2 Summary of Findings

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Chapter 6

Summary and Conclusions 6.1 Summary of Learning Experience 6.2 Conclusions and Recommendations

Annexure Bibliography

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Chapter I Introduction
1.1 General Introduction about the sector:

The share industry of India contains a large number of broking firms that deal with the buying and selling of shares through two different stock exchanges markets. These markets are National Stock Exchange and Bombay Stock Exchange respectively. All stock exchanges perform similar functions with respect to the listing, trading, and clearing of securities, differing only in their administrative machinery for handling these functions. Most stock exchanges are auction markets, in which prices are determined by competitive bidding. A stock exchange is said to be an organized market for the trading of stocks and bonds. Such markets were originally open to all, but at present only members of the owning association may buy and sell directly. Members, or stock brokers, buy and sell for themselves or for others, charging commissions for their services. A stock may be bought or sold only if it is listed on an exchange.

The need for stock exchanges developed out of early trading activities in agricultural and other commodities. During the middle Ages, traders found it easier to use credit that required supporting documentation of drafts, notes and bills of exchanges. The first stock exchange in India, Bombay Stock Exchange was established in 1875 as 'The Native Share and Stockbrokers Association' and has evolved over the years into its present status as the premier stock exchange in the country. It may be noted that BSE is the oldest stock exchange in Asia. India's other major stock exchange National Stock Exchange (NSE), promoted by leading financial institutions, and was established in April 1993. Over the years, several stock exchanges have been established in the major cities of India. There are now 23 recognized stock exchanges. Today, most of the global stock exchanges have become highly efficient, computerized organizations. Computerized networks also made it possible to connect to each other and have fostered the growth of an open, global securities
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market. Online Trading is a service offered on the Internet for purchase and sale of shares. In the real world, investors place orders via stockbrokers either verbally (personally or telephonically) or in a written form (fax).

1.2). Industry Profile:

A. Origin and Development of the Industry Over the last decade, the Indian stock market has seen many changes and major break through. The stock market has seen rapid growth over the past decade with top companies listing their shares at a higher price. However, for all practical purposes, the real beginning occurred in

the middle of the nineteenth century after the enactment of the companies Act in 1850, which introduced the features of limited liability and generated investor interest in corporate securities. It consists of two major Exchanges. These are known as Bombay Stock
Exchange and National Stock Exchange respectively. The Bombay Stock Exchange (BSE) and

the National Stock Exchange of India Ltd (NSE) are the two primary exchanges in India. In addition, there are 22 Regional Stock Exchanges. However, the BSE and NSE have established themselves as the two leading exchanges and account for about 80 per cent of the equity volume traded in India. The NSE and BSE are equal in size in terms of daily traded volume. The average daily turnover at the exchanges has increased from Rs 851 crore in 1997-98 to Rs 1,284 crore in 1998-99 and further to Rs 2,273 crore in 1999-2000 (April - August 1999). NSE has around 1500 shares listed with a total market capitalization of around Rs 9, 21,500 crore. The Exchanges allow shares to be listed that increase financial transactions in the stock broking industry. However, the problems that were faced by the stock market were of the global financial crisis. This crisis created a down turn in the stock market. A large number of volumes and stocks started to fall at the Exchanges. Many investors saw fall in their share holdings that led to them not completing their due payments. Debts started to rise for these share holders that had large number of shares. The stock market is expected to rise as the recession period is over. Now the market is hoping to rise over the next few years.

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But as business and industry expanded and the economy assumed more complex nature, the need for permanent finance arose. Entrepreneurs needed money for long term whereas investors demanded liquidity the facility to convert their investment into cash at any given time.

CAPITAL MARKET:
The capital market is a system or framework, which facilitates savings and investment. The securities markets provide channels for the allocation of savings to investments. Through the capital market companies can raise resources from the people (investors) and households can invest their savings in industrial or commercial activities to earn a return Hence, the capital market is a mechanism by which capital (funds) moves from those with surplus funds to those in need of funds. Savings are linked to investments through a range of financial products called securities.

PRIMARY MARKET:
The primary market is an intermittent and discrete market where the initially listed shares are traded first time, changing hands from the listed company to the investors. It refers to the process through which the companies, the issuers of stocks, acquire capital by offering their stocks to investors who supply the capital. In other words primary market is that part of the capital markets that deals with the issuance of new securities. Companies, governments or public sector institutions can obtain funding through the sale of a new stock or bond issue. This is typically done through a syndicate of securities dealers. The process of selling new issues to investors is called underwriting. In the case of a new stock issue, this sale is called an initial public offering (IPO). Dealers earn a commission that is built into the price of the security offering, though it can be found in the prospectus.

SECONDARY MARKET:
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The secondary market is an on-going market, which is equipped and organized with a place, facilities and other resources required for trading securities after their initial offering. It refers to a specific place where securities transaction among many and unspecified persons is carried out.

1.4 THE NATIONAL STOCK EXCHANGE OF INDIA:

The National Stock Exchange of India (NSE) situated in Mumbai. It is the largest and most advanced exchange with 1016 companies listed and 726 trading members. The NSE is owned by the group of leading financial institutions such as Indian Bank or Life Insurance Corporation of India. However, in the totally de-metalized Exchange, the ownership as well as the management does not have a right to trade on the Exchange. Only qualified traders can be involved in the securities trading. NSE is mutually-owned by a group of leading financial institutions, banks, insurance companies and other financial intermediaries in India. In October 2007, the equity market capitalization of the companies listed on the NSE was US$ 1.46 trillion that made it the second largest stock exchange in South Asia. This proves that the NSE has large scope for the stock industry. NSE is believed to be the third largest Stock Exchange in the world in terms of the number of trades in equities. The National Stock Exchange of India was incorporated in November 1992 as a tax-paying company. In April 1993, it was recognized as a stock exchange under the Securities Contracts (Regulation) Act, 1956. NSE offers a wide range of products for multiple markets including equity shares, mutual funds, etc. The NSE has more than one thousand companies listed in the capital market where top companies are traded actively by common investors. In order to improve market efficiency and to set international benchmarks, the NSE launched the NSE Research Initiative in January, 2000. This was done to develop a better view and understanding of the securities market in India. Therefore, all the records

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including latest events can be found on NSE`s website. Capital market reforms in India and the launch of the Securities and Exchange Board of India (SEBI) accelerated the incorporation of the second Indian stock exchange called the National Stock Exchange (NSE) in 1992. After a few years of operations, the NSE has become the largest stock exchange in India.

THE BOMBAY STOCK EXCHANGE OF INDIA:

The Bombay Stock Exchange is one of the oldest stock exchanges in Asia. It was established as "The Native Share & Stock Brokers Association" in 1875. It is the first stock exchange in the country to obtain permanent recognition in 1956 from the Government of India under the Securities Contracts (Regulation) Act, 1956. The Exchange's pivotal and pre-eminent role in the development of the Indian capital market is widely recognized and its index, SENSEX, is tracked worldwide. In 1956, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. It was the year 2000 where the BSE opened its derivatives market, trading Sensex Futures Contracts. The Bombay Stock Exchange adapted to an electronic trading system in 1995. The screen-based trading platform that is known as BSE On-line Trading (BOLT) currently has a capacity of 80 lakh orders per day. The BSE has attracted millions of people to stock trading on an annual basis. This is why the stock broking industry has seen tremendous growth over the years. There are almost six thousand BSE companies comprising of blue chip conglomerates, small companies, etc. The companies listed are among the top companies and here investors are seen in large numbers that invest in the BSE companies. The BSE was badly hit during the recession period where it saw fall in shares but it has soon picked up momentum. The stock market has seen rise in its volumes due to the increasing popularity of the BSE.

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B. Growth and present status of the Industry SEBI:

The Securities and Exchange Board of India was established on April 12, 1992 in accordance with the provisions of the Securities the Securities and Exchange Board of India. Under the SEBI Act, 1992, the SEBI has been empowered to conduct inspection of stock exchanges. The SEBI has been inspecting the stock exchanges once every year since 199596. During these inspections, a review of the market operations, organizational structure and administrative control of the exchange is made to ascertain. During the year 1997-98, inspection of stock exchanges was carried out with a special focus on the measures taken by the stock exchanges for investor's protection. Stock exchanges were, through inspection reports, advised to effectively follow-up and redress the investors' complaints against members/listed companies. The stock exchanges were also advised to expedite the disposal of arbitration cases within four months from the date of filing. During the earlier years' inspections, common deficiencies observed in the functioning of the exchanges were delays in post trading settlement, frequent clubbing of settlements, delay in conducting auctions, inadequate monitoring of payment of margins by brokers, non-adherence to Capital Adequacy Norms etc. It was observed during the inspections conducted in 1997-98 that there has been considerable improvement in most of the areas, especially in trading, settlement, collection of margins etc. It drafts regulations in its legislative capacity, it conducts investigation and enforcement action in its executive function and it passes rulings and orders in its judicial capacity. SEBI has enjoyed success as a regulator by pushing systemic reforms successively. SEBI has been active in setting up the regulations as required under law. SEBI has also been effective in taking quick steps in light of the global meltdown. More recently, it liberalised the takeover code to facilitate investments.
and Exchange Board of India Act

, 1992. The

Preamble of the Securities and Exchange Board of India describes the basic functions of

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NSDL:
NSDL stands for National Securities Depository Limited. The enactment of Depositories Act in August 1996 made the establishment of NSDL, the first depository in India. NSDL handles most of the securities held and settled in dematerialized form in the Indian capital market. Using innovative and flexible technology systems, NSDL works to support the investors in the capital market of the country. NSDL aims at ensuring the safety by developing settlement solutions that increase efficiency and reduce costs. Transfer of ownership of securities is done through simple account transfers. Cost of transacting in a depository is considerably lower as compared to transacting in certificates.

The Depositories Act has provided dematerialization route to book entry based transfer of securities and settlement of securities trade. NSDL has framed its Bye Laws and Business Rules. The Bye Laws are approved by SEBI. The Business Rules outline the operational procedures to be followed by NSDL. Also, there are certain benefits of NSDL. In the depository environment, once holdings of an investor are dematerialized, the question of bad delivery does not arise. Dealing in physical securities has associated security risks of theft of stocks, loss of certificates during movements through and from the registrars. This problem does not arise in the depository environment. There is no stamp duty or transfer of any kind of securities in the depository. There are various checks and measures in the depository system to ensure safety of the investor holdings. A DP can be operational only after registration by SEBI, which is based on the recommendation from NSDL. DPs are allowed to affect any debit and credit to an account only on the basis of valid instruction from the client. Every day, there is a system driven mandatory reconciliation between DP and NSDL. Also, all transactions are recorded at NSDL Central System and in the databases maintained. In addition, every month NSDL forwards statement of account to a random sample of investors as a counter check.

CDSL:
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CDSL stands for Central Depository Services Limited. It was promoted by Bombay Stock Exchange jointly with leading banks such as State Bank of India, Bank of India, Bank of Baroda, HDFC Bank, etc. CDSL was set up with the objective of providing convenient, dependable and secure depository services at affordable cost to all market participants. CDSL offers an efficient transfer of securities. As it was promoted by the BSE, it became very popular giving competition to NSDL. The CDSL aimed to provide convenient service and efficiency than NSDL. Today, both NSDL and CDSL run side by side and have opened more than million demat accounts. CDSL's demat services are extended through its agents called Depository Participants. The DP is the link between the investor and CDSL. CDSL's system is based on centralised database architecture with on-line connectivity with DPs. CDSL has a wide network of DPs, operating from over 6000 sites, across the country. The DPs are directly connected to CDSL thereby providing on-line and efficient depository service to investors. CDSL has kept its tariffs very competitive to provide affordable depository services to investors. CDSL's system is built on centralized database architecture and thus enables DPs to provide on-line depository services with the latest status of the investor's account. The entire database of investors is stored centrally at CDSL. It has made provisions for contingency terminals, which enables a DP to update transactions. All data held at CDSL is backed up and stored in the disaster recovery site. All data and communications between CDSL and its users are encrypted to ensure its security and integrity. Moreover, the software provided by CDSL is developed and supported by CMC Ltd., who has also developed the BOLT system for BSE. The software is a modified version of the banking software-TC4 developed by a subsidiary of CMC Ltd. The software has been customized to suit the requirement of CDSL.

2.1)

Origin of the Organization:

Sharekhan is a retail brokerage firm of SSKI Group which started in 1922. The group was setup in Mumbai and has over eighty years of vast experience in cliental trading of shares and other financial services. Sharekhan offers its customers equity related services including trading on BSE, NSE, derivatives, depository services, online trading, investment
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advice, etc. Sharekhan was established by Morakhia family -in 1999-2000 and Morakhia family, continues to remain the largest shareholder. Sharekhan is one of the top retail brokerage houses in India with a strong online trading platform. The Company's online trading and investment site - www.Sharekhan.com - was launched on Feb 8, 2000. The site gives access to superior content and transaction facility to retail customers across the country. Known for its jargon-free, investor friendly language and high quality research, the content-rich and research oriented portal has stood out among its contemporaries because of its steadfast dedication to offering customers best-of-breed technology and superior market information. SSKI Corporate Finance Private Limited (SSKI) is a leading India-based investment bank with strong research-driven focus. Company team members are widely respected for their commitment to transactions and their specialized knowledge in their areas of strength. The team has completed over US$5 billion worth of deals in the last 5 years - making it among the most significant players raising equity in the Indian market. SSKI, a veteran equities solutions company with over 8 decades of experience in the Indian stock markets. Sharekhan's management team is one of the strongest in the sector and has positioned Sharekhan to take advantage of the growing consumer demand for financial services products in India through investments in research, pan-Indian branch network and an outstanding technology platform. Further, Sharekhan's lineage and relationship with SSKI Group provide it a unique position to understand and leverage the growth of the financial services sector.

Vision: To be the best retail brokering brand in the retail business of stock market.

Mission:

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To educate and empower the individual investor to make better investment decisions through quality advice and superior service.

Achievements and Awards:

1) SSKI has been voted as the Top Domestic Brokerage House in the research category, twice by Euromoney Survey and four times by Asiamoney Survey. 2) Sharekhan Limited won the CNBC AWARD for the year 2004. 3) The team has completed over US$5 billion worth of deals in the last 5 years.

Sharekhan offers various types of services:

1) Equity and Derivatives Trading 2) Depository Services 3) Technical Research 4) Fundamental Research 5) Online Services 6) Dial-N-Trade 7) Portfolio Management Services 8) Commodities Trading

2.2)

Growth and Development of the Organization:

Products offered by Sharekhan Ltd:

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1) Classic Account
2) Speed Trade Account

3) Fast Trade Account

1. Classic Account: It allows the investor to buy and sell stocks online along with the

following features like multiple watch lists, integrated banking, demat and digital contracts, etc. It also offers online trading account for investing in equities and derivatives. This account is prepared for the beginners who do not know much about the stock market.

2. Speed Trade Account: This account is for active traders who trade frequently

during the day's trading session. The account has a single screen interface for cash and derivatives. Also, it keeps alerts and reminders of events for investors. In addition, it has the back-up facility to place trades on direct phone lines.

3. Fast Trade Account: This account is for advanced users that wish to trade quickly.

The application provides live streaming quotes and statistics for any stock company. This application can help traders also to purchase Mutual Funds. It can view prices and place orders on the same screen. It can add NSE, BSE, FONSE, etc. on the same market watch. Therefore, this account offers users with full satisfaction.

ONLINE TRADING ACCOUNT:

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Online trading account is used for purchasing the share or to sale the share of particular company.

It is provided for Rs.700 to the customer Normal plan is also available at Rs.299.

PROCESS OF ONLINE TRADING:

For online trading SHAREKHAN provides ID and password to client so that client can easily do login on Sharekhan for online trading. Client gives the order through online trading account to purchase the share of particular company. The order goes to BSE or NSE. Order is executed and share of particular company comes to client D-MAT account where he holds the share until price of share rise. As the share come to client D-mat account the cost amount is deducted from client saving account. When client want to sell his share he give the order through online trading account. Share is sell through his D-mat account And money get deposited in his saving account.

INTRA DAY TRADING:

In intra day trading the share is purchase and sale on the same day. The share market starts at 9.50 a.m. and close at 3.30 p.m. if the client purchases the share and prices of share rise then he can sell his share and he will get the profit. If the prices of share fall down then he will be in loss. If client purchases the share and he does not sell it at market closing time then the share automatically sell i.e. called square off. If price of share is high then client will get profit and price of share fall down the customer will be in loss at time of square off.

Brokerage Structure of Sharekhan Ltd:

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Sharekhan Demat Account Opening Charges: NIL Sharekhan Demat Account Maintenance Charges: Rs. 75 per quarter Sharekhan Demat Account Closing Charges: Rs. 100 Sharekhan Demat Account Custody Fee: NIL

Brokerage Structure in Tabular Form:

INTRADAY CASH- EQUITIES FnO PREPAID SCHEME 0.05% 0.05% 0.025% 0.25% DELIVERY 0.5%

Sharekhan has links with the following banks:

HDFC Axis Bank IDBI Citi Bank IndusInd Bank Union Bank ICICI Bank.

2.3 PRESENT STATUS OF THE ORGANIZATION PROCESS OF ACCOUNT OPENING:

The person can open a Depository Participant (DP) Account, either through Sharekhan branches or through Sharekhan Franchisee center. There is no fee for opening DP accounts with Sharekhan.

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The person would have to submit their proof of identity and proof of address along with the prescribed account opening form. Proof of identity needs to be submitted. It contains signature and photograph that must be authenticated by an existing demat account holder with the same DP or by a bank manager. Alternatively, the person can submit a copy of Passport, Voters Id Card, Driving License or PAN card with photograph.

Proof of Address needs to be submitted. The person can submit a copy of Passport, Voters Id Card, Driving License, PAN card with photograph, ration card as proof of address.

All photographs that are to be submitted must be passport sized and only of the person who intends to open the account.

ENQUIRY OF OPENING ACCOUNT:

1.

Possible to call through the phone number provided that is Toll free number: 1-80022-7500 to speak to a Customer Service executive. If in Mumbai call on 022-66621111 Visit one of the branches. Possible to send an email on info@sharekhan.com to know about their products and services. If wish to chat with customer service representative, there is a chat session software.

2. 3. 4.

5.

2.4 Functional departments of the Organization

ORGANIZATIONAL LTD: STRUCTURE OF SHAREKHAN

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HEAD OFFICE

REGIONAL HEAD QUARTERS

REGIONAL HEAD QUARTERS

REGIONAL HEAD QUARTERS

Founders:
Shantilal Savantilal Kantilal Ishwarlal

SSKI Group Companies:

1. SSKI Investor Services Ltd (Sharekhan) 2. S.S. Kantilal Ishwarlal Securities 3. Sharekhan Commodities Pvt. Ltd

RESEARCH BASED SERVICES:

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Every investors needs and goals are different. To meet these needs, Sharekhan provides a comprehensive set of research reports, so that one can take the right investment decisions regardless of their investing preferences! The Research and Development at Sharekhan is done at its Head office Mumbai. The R&D department forwards all the details regarding all stocks and scripts to all the branches through Internet. At the end of each trading day there is a Teleconference, through which the R&D department talks with each Branch heads and discusses about each days closing position and shows their predictions about next days opening position. The quarries regarding stock positions and other relevant matter of the branch heads of each branch is being solved through teleconference.

Institutional Research: Each individual company is analyzed and its results are placed on our site. Here Rating is given on relative basis, in the form of underperformer, neutral and outperformed.

Outperformer: This stock will outperform the market by giving a relatively higher return than a market-based index.

Neutral: This stock is expected to more or less give you the index rate of return or a return not significantly higher or lower than the market index.

Underperformer: This stock is expected to lose value on a relative basis when compared to a market-based index.

Sector Watch: Here each sector is analyzed thoroughly. Pharma sector, Automotive sector, and various other sectors.

2.6 Product and service profile of the organization: SHAREKHAN DEPOSITORY SERVICES:

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Dematerialization and trading in the demat mode is the safer and faster alternative to the physical existence of securities. Demat as a parallel solution offers freedom from delays, thefts, forgeries, settlement risks and paper work. This system works through depository participants (DPs) who offer demat services and the securities are held in the electronic form for the investor directly by the Depository. Dematerialization is the process of converting the physical form of shares into electronic form. Prior to dematerialization the Indian stock markets have faced several problems like delay in the transfer of certificates, forgery of certificates etc. Dematerialization helps to overcome these problems as well as reduces the transaction time as compared to the physical segment. According to the Depositories Act, 1996, an investor has the option to hold shares either in physical or electronic form .The process of converting the physical form of shares into electronic form is called dematerialization or in short demats. The converted electronic data is stored with the depository from where they can be traded. It is similar to a bank where an investor opens an account with any of the depository participants. Depository participant is a representative of the depository .The DP maintains the investors securities account balances and intimates him about the status of holdings.

Sharekhan Depository Services offers dematerialization services to individual and corporate investors. Sharekhan is a registered Depository Participant (DP) with National Securities Depository Ltd. (NSDL). It has a team of professionals and the latest technological expertise dedicated exclusively to our demat department, apart from a national network of franchisee, making our services quick, convenient and efficient. At Sharekhan, the commitment is to provide a complete demat solution which is simple, safe and secure.

BENEFITS OF SHAREKHAN:
Only Sharekhan offers the facility to trade at two major commodity exchanges of the country:

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1. Multi Commodity Exchange of India Ltd, Mumbai (MCX) and 2. National Commodity and Derivative Exchange, Mumbai (NCDEX).

Sharekhan also equips you with world-class research, based on technical and fundamental study of all major commodities. Whats more Sharekhan is in the process of launching several trading products and strategies to help you trade in the commodity futures segment. Sharekhan is a registered Stock Broker with the Bombay Stock Exchange and National Stock Exchange to trade on behalf of clients. The screen-based trading is done on BOLTBSE Online Trading and NEAT- National Exchange Automated Trading, terminals. There are two types of transactions executed on these terminals viz. intra-day and delivery based transactions. Intraday transactions are those, in which the squaring up of deal is done on the same day, while in delivery based transaction the squaring up is not done on the same day, but the stock is to be traded on the basis of rolling settlement i.e. T+2. The Brokerage of Intraday transaction is 0.10% single side, while brokerage on delivery based transactions is 0.50% on both side, i.e. while purchasing as well as selling. Sharekhan focuses on Customer service, Customer education, Customer support, Customer relations and last but not the least Customer acquisition. Specific products catering to each customer segment is provided by the company. Comprehensive 3 day training program & dedicated online platform for ongoing training requirements are in the benefits by the company. Sharekhan serves customers better via multiple channels. This is the plus point by trading with the company. Multiple channels are not provided by small to medium sized companies. So therefore, the company is well reputed in the market. Sharekhan provides assistance in making office premises get a new look, synonymous with its corporate identity. Also, the company provides access to all fundamental and technical research at a real time basis.

2.7 Market Profile of the Organization SWOT ANALYSIS:

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STRENGTHS:

1. Sharekhan provides other support services that make retail investors more confident and assured with their trading. SMS alerts (allowing traders and investors to make the most of the available opportunities), softer, intangible features like imagery, equity driving preference. 2. Sharekhan with almost 250 branches spread across 123 cities up by comprehensive online research, advice and transaction services. In near future expect to make 200000+ retail customers being serviced through centralized call center or web solution, 60 branches or semi branches servicing aggressive traders through highly skilled financial advisors 3. Sharekhan is a popular equities solutions company with over decades of experience in the Indian stock markets.
4. Companys product line is quite flexible in the sense that there is a product for

every kind of investors. This makes the company more attractive in the minds of potential investors.

WEAKNESSES:

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1. However, a broking house like Sharekhan which caters to the mass segment is in no position to provide relationship managers for individual customers. 2. Though the company has an efficient product line but large part of investment interested population does not know the company. 3. Most of the banks due to good branding have the faith of the customers of their banking database. So they enjoy the liberty of huge database and customers find it more reliable to trade their rather than with an unknown broker like Sharekhan.

4. Localized presence due to in sufficient investments for country wide expansion. This makes other top and large broking firms to take edge over the companys potential customers. 5. Lesser emphasis on customer retention. This means that the small investors are forgotten so that the emphasis lies on large investors that trade for long term prospective. 6. Lack of awareness among customers because of non-aggressive promotional strategies.

OPPORTUNITIES:

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1. After the NSE brought the screen based trading system stock markets are now more secured which has attracted lot of retail investors. Sharekhan is one of the early entrants here. 2. Sharekhan.com has been a mega player and is known for being a mover of stocks. It is also known for putting big deals through and enjoys good networking with the FIIs. 3. It has been dynamic enough to move with the times and capture the opportunities that the market throws up from time to time. 4. In country like India technology is always improving which gives the company a chance to keep on improving their product with time whereas for the small players like local brokers it will be difficult to keep the same pace as the changing technology. 5. The traditional business model is highly dependent on a large network of subbrokers, and many established players may not have systems (technology, customer service, etc.) capable of directly servicing so many retail customers.

6. The education level in the country is improving year after year as far as technology goes. With that the understanding of the stock market is also increasing and a lot of retail investors are steeping in the markets which are being shown by increasing volumes, transactions and indices.

THREATS:

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1. A lot of new competitors are trying to enter the market. This is creating a lot of

competition for large players like Sharekhan and it is creating little confusion in the minds of the customers about the services provided by the broker.

2. Also many banking firms are entering into the market with huge investment. These

banks are well supported that creates a threat to company like Sharekhan.

3. Lack of sufficient branch offices for speedy delivery of services. 4. Other players are providing margin funds to investors on easy terms where as there is no such facility in Sharekhan.

CHAPTER THREE
DISCUSSION ON TRAINING

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3.1 STUDENTS WORK PROFILE:

Having the right person, in the right place, at the right time, is crucial to organizational performance. Recruitment is a critical activity, not just for the HR team but also for line managers who are increasingly involved in the selection process. This fact sheet gives outline guidance, it doesnt replace legal advice. All those involved in recruitment activities should be aware of all relevant legislation and the latest legal position on issues such as discrimination, asylum and immigration and data protection among others. Recruitment is the process of discovering potential applicants for actual or anticipated organizational vacancies. It is a linking activity bringing together those with jobs and seeking jobs. It is a process to discover sources of manpower to meet the requirements of staffing schedule and to employ effective measures for attracting that manpower in adequate numbers to facilitate effective selection of efficient working force. This efficient working force must be strong enough to produce effective results for the company. The workforce needs to be well satisfied in order to produce quality in working hours. If the workforce gets involved in disputes, then the management needs to solve their queries fast so that they can satisfy the workforce. It is the workforce that is the backbone of the organization. Therefore, efficient workforce requires the need for selecting best talents to work for the company.

3.2 Key Learning:

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Recruitment is a positive function in which publicity is given to the jobs available in the organization and interested candidates are encouraged to submit applications for the purpose of selection. Recruitment represents the first contact that a company makes with potential employees. It is through recruitment that many individuals will come to know a company, and eventually decided whether they wish to work for it. A well-planned and well-managed recruiting effort will result in high quality applicants, whereas, a haphazard and piecemeal efforts will result in mediocre ones.

The importance of selection recruitment and selection of staff is now accepted in the business world. Selection is important as it has its impact on work performance and employee cost. As result scientific methods of recruitment and selection are extensively for the selection of managers and the supervisory staff. The assistance of experts such as industrial psychologist and management consultants are also taken for the purpose of scientific selection. As a result, the objective of right man for the right job is achieved in many organizations. Moreover, right job is the basic principle in manpower procurement

Need for recruitment:

1) Vacancies due to promotions, transfer, retirement, termination, permanent disability, death and labour turnover.

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

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The recruitment process has two major goals: Generate a large pool of applicants

Providing enough information for individual to self select out of the process

Purpose and importance of Recruitment:

1. Determine the present and future requirements of the organization on conjunction with its personnel-planning and job analysis activities. 2. Increase the pool of job candidates at minimum cost.3.Help increase the success rate of the selection process by reducing the number of visibly under qualified or overqualified job applicants.

3. Help increase the success rate of the selection process by reducing the number of visibly under qualified or overqualified job applicants.

4. Help reduce the probability that job applicants, once recruited and selected, will leave the organization only after a short period of time.

5. Meet the organizations legal and social obligations regarding the composition of its work force.

6. Begin identifying and preparing potential job applicants who will be appropriate candidates.

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THE RECRUITMENT PROCESS:

1. JOB ANALYSIS: Before recruiting for a new or existing position, it is important to invest time in gathering information about the nature of the job. This means thinking not only about the content making up the job, but also the jobs purpose, the outputs required by the job holder and how it fits into the organisations structure. It is also important to consider the skills and personal attributes needed to perform the role effectively. Ways to gather this information include observation, questionnaires, interviews or work diaries. This analysis can form the basis of a job description and person specification. Job Description: Carrying out a job analysis will form the basis of a written job description. This benefits the recruitment process by:

Providing information to potential applicants and recruitment agencies who may be recruiting on behalf

Acting as an aid in selection; when designing assessment activities and making decisions between candidates.

The analysis can also be used to communicate expectations about standards to employees and managers to help ensure effective performance in the job. Person specification/job profile: A person specification or job profile states the necessary and desirable criteria for selection. Increasingly such specifications are based on a set of competencies identified as necessary for the performance of the job.

In general, specifications should include details of:

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Skills, aptitude, knowledge and experience Qualifications (which should be only those necessary to do the job - unless candidates are recruited on the basis of future potential eg graduates)

Personal qualities relevant to the job, such as ability to work as part of a team.

2. ATTRACTING APPLICATIONS:
Internal methods: It is important not to forget the internal talent pool when recruiting. Providing opportunities for development and career progression is an important factor for employee retention and motivation. The CIPD survey Recruitment, retention and turnover 2004 found that 87% of UK organizations had a policy of advertising all vacancies internally using tools such as notice boards and their intranet. Some organizations operate an employee referral scheme. These schemes usually offer an incentive to existing employees to assist in the recruitment of family or friends. External Methods: There are many options available for generating interest from individuals outside the organisation. These include placing advertisements in trade press, newspapers and on the web. However, it is found that despite the increasing popularity of the internet-based methods in recent years, local newspapers currently remain the most frequently used means of attracting candidates.

Advertisements should be clear and indicate the:

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Outline requirements of the job Necessary and the desirable criteria for job applicants (to limit the number of inappropriate applications received)

Nature of the organizations activities Job location Reward package Job tenure (contract length)

3. MANAGING THE APPLICATION PROCESS:

Applications can be made by form or by curriculum vitae (CV). Application forms allow for information to be presented in a consistent format, and therefore easier to assess objectively the candidates suitability when short listing applicants. Application forms should:

Be realistic and appropriate to the level of the job Use clear language Be piloted for readability and ease of completion Not request detailed personal information unless relevant to the job State the procedure for taking up references, how these will be used and at what stage in the recruitment process they will be taken

Be accompanied by details of the job and clear information about the application and selection procedure.

Any information collected for equal opportunity monitoring should be used only for this purpose and be kept separate from information on which selection decisions will be based

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(for example using a separate piece of paper or detachable slip from the main application form). Under the Disability Discrimination Act 1995 it may be necessary to offer application forms, if used, in different formats. These formats should be used carefully and not disappoint the management. Formats should go in accordance with the usual global standards accepted worldwide. The use of e-applications (Internet, intranet and email) has moved into mainstream recruitment practices; again see fact sheet on Recruitment.

4. DEALING WITH APPLICATIONS:

All solicited applications (responses to advertisements) should be acknowledged and where possible all unsolicited applications. Prompt acknowledgment is good practice as it presents a positive image of the organisation. Increasingly candidates are being treated as customers, and in a tight labour market the recruitment process works both ways. All applications should be treated confidentially and circulated only to those individuals involved in the recruitment process. Selecting the candidates: Selection decisions should be made after using a range of tools appropriate to the time and resources available. The most common techniques are described below. Care should be taken to use techniques which are relevant to the job and the business objectives of the organisation. All tools used should be validated and constantly reviewed to ensure their fairness and reliability. Short listing: The first stage in the selection process is the creation of a list from the pool of applications received of those to be invited for interview or other assessment activity. The process should be informed by the person specification created earlier - if time has not been spent planning an accurate person specification this process can be overwhelming if a high volume of applications is received. The expansion of the use of Internet raises the opportunity for online screening. Care should be taken in this area, see recruitment on the internet fact sheet for further details.
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Many companies also now make use of telephone hotlines to provide an initial screening service by asking candidates a series of questions reflecting essential requirements for the job.

5. SELECTION INTERVIEWS
Although they remain the most commonly used selection technique according to CIPD surveys, interviews have very poor predictive ability of suitability if conducted by untrained individuals in an unstructured way. To have any value they should:

Always be conducted or supervised by trained individuals Be structured to follow a previously agreed set of questions mirroring the person specification or job profile

Allow candidates the opportunity to ask questions

Candidates should be given as much information as possible prior to interview, for example about terms and conditions, to allow them to prepare and to minimize the risk of job offers being rejected. Organizations should be prepared to discuss reimbursing reasonable travel costs for attending interviews with the candidates prior to any interview. According to the CIPD survey1, 43% of organizations in the UK use assessment centres. They are most frequently used when recruiting for managers, professionals and graduate trainees. Assessment centres test candidates on a range of work-related activities as individuals and in groups. Studies have shown that they have higher validity than interviews when predicting future job performance. Psychological or occupational testing is also a widely used selection technique. Offers of employment should be made in writing. It is important that employers are aware of the legal requirements of what information should be given in the written statement of particulars of employment.

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6. JOINING THE ORGANIZATION:

Well-planned induction enables new employees to become fully operational quickly and should be integrated with the recruitment process. A recruitment policy should state clearly how references will be used, when in the recruitment process they will be taken up and what kind of references will be necessary (from former employers). These rules should be applied consistently. Recruiters should always obtain references to check factual information such as qualifications. But they should not ask former employers to supply a subjective opinion as to an applicant's likely future performance. Such data is unreliable and can be misleading. It is reasonable to require completion of a health questionnaire where good health is relevant to the job. Any particular physical or medical requirement should be made clear in the job advertisement or other recruitment literature. Organizations should pay for any medical examinations required. When it is necessary for medical records to be obtained, the requirements of the Access to Medical Reports Act 1988 must be observed. Care should be taken with regard to the Disability Discrimination Act before making selection decisions relating to employees mental or physical health. The process should be documented accurately and access limited to recruitment staff. Information should be kept for sufficient time to allow for any complaints to be handled. Monitoring: Monitoring is not mandatory but it is good practice to ensure that all groups have an equal chance at all stages of the recruitment process. Data collected for monitoring should not be used for any other purposes. Unsuccessful candidates should be notified promptly in writing, giving feedback if possible. As a minimum, feedback on any psychometric test results should be given. External recruitment services: Many organizations make use of external providers to assist in recruitment. A range of services are available including attracting candidates, managing candidate responses (for

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example by via a call centre response service) screening and short listing, or running assessment centres on behalf. In order to ensure an effective working relationship, remember the following:

Examine the market carefully before selecting an agency or consultancy. Different services are provided by different agencies. It is important that an organisation selects one which reflects its aims and objectives and has experience of its labour market.

Be clear about what is required from an agency. Provide a brief in writing; ensure it is fully understood and that all information given is current and accurate. Provide an accurate and up-to-date job and/or person specification. Agree, in writing, the responsibilities of the agency and the organisation (for example, which will be responsible for checking qualifications or handling references).

Agree the selection tools to be used and the criteria against which applicants will be selected from the initial approaches, to the short-list stage. Ensure these are consistent with the organizations recruitment policy.

Ensure equal opportunities standards are adhered to consistently and are in line with the requirements for in-house recruitment.

General Viewpoint:
Effective recruitment is central and crucial to the successful day-to-day functioning of any organisation. Successful recruitment depends upon finding people with the necessary skills, expertise and qualifications to deliver organizational objectives and the ability to make a positive contribution to the values and aims of the organization Recruitment is not only carried out to fulfill current needs. Recruiters should always be aware of and refer to future plans that have implications for organizational resourcing. Recruiters also need to be fully aware of equal opportunities legislation and understand how discrimination can occur both directly and indirectly in the recruitment process. For example, untrained interviewers can make subjective judgments based on non job-related criteria and some forms of advertising may discourage or fail to reach potential applicants
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from certain groups. A diverse workforce who reflects customer groups within the local community is to be encouraged. Organizations should monitor their recruitment processes continuously to ensure their validity, and that they are non-discriminatory.

3.3 MANPOWER PLANNING:

Manpower Planning which is also called as Human Resource Planning consists of putting right number of people, right kind of people at the right place, right time, doing the right things for which they are suited for the achievement of goals of the organization. Human Resource Planning has got an important place in the arena of industrialization. Human Resource Planning has to be a systems approach and is carried out in a set procedure. Downsizing of manpower gives the correct picture about the number of people to be employed to complete given task in the predetermined period. It is used for achieving fundamental growth in the concern. It can work out the correct price by the resource building or capacity building. It aims at correct place, correct man on a correct job. Thus manpower planning is must to make the optimum utilization of the greatest resource available i.e. manpower for the success of any organisation.

The steps are as follows:

1. Analyzing the current manpower inventory

2. Making future manpower forecasts 3. Developing employment programmes 4. Design training programmes

1.

Analyzing the current manpower inventory: Before a manager makes forecast of

future manpower, the current manpower status has to be analysed. For this the following things have to be noted:

Type of organization Number of departments

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Number and quantity of such departments Employees in these work units

2. Making future manpower forecasts: Once the factors affecting the future

manpower forecasts are known, planning can be done for the future manpower requirements in several work units. The Manpower forecasting techniques commonly employed by the organizations are as follows:
a. Expert Forecasts: This includes informal decisions, formal expert surveys

and Delphi technique.

b. Trend Analysis: Manpower needs can be projected through extrapolation

(projecting past trends), indexation (using base year as basis), and statistical analysis (central tendency measure).
c. Work Load Analysis: It is dependent upon the nature of work load in a

department, in a branch or in a division.

d. Work Force Analysis: Whenever production and time period has to be

analysed, due allowances have to be made for getting net manpower requirements.
e. Other methods: Several Mathematical models, with the aid of computers are

used to forecast manpower needs, like budget and planning analysis, regression and new venture analysis.

3. Developing employment programmes: Once the current inventory is compared

with future forecasts, the employment programmes can be framed and developed accordingly, which will include recruitment, selection procedures and placement plans.

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4. Design training programmes: These will be based upon extent of diversification,

expansion plans, development programmes, etc. Training programmes depend upon the extent of improvement in technology and advancement to take place. It is also done to improve upon the skills, capabilities, knowledge of the workers.

Importance of Manpower Planning:

1. Key to managerial functions: The four managerial functions, i.e., planning,

organizing, directing and controlling are based upon the manpower. Human resources help in the implementation of all these managerial activities. Therefore, staffing becomes a key to all managerial functions.

2. Efficient utilization: Efficient management of personnels becomes an important

function in the industrialization world of today. Seting of large scale enterprises require management of large scale manpower. It can be effectively done through staffing function.
3. Motivation: Staffing function not only includes putting right men on right job, but

it also comprises of motivational programmes, i.e., incentive plans to be framed for further participation and employment of employees in a concern. Therefore, all types of incentive plans becomes an integral part of staffing function.

4. Better human relations: A concern can stabilize itself if human relations develop

and are strong. Human relations become strong trough effective control, clear communication, effective supervision and leadership in a concern. Staffing function

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also looks after training and development of the work force which leads to cooperation and better human relations.

5. Higher productivity: Productivity level increases when resources are utilized in

best possible manner. higher productivity is a result of minimum wastage of time, money, efforts and energies.This is possible through the staffing and it's related activities ( Performance appraisal, training and development, remuneration)

Need of Manpower Planning:

Manpower Planning is a two-phased process because manpower planning not only analyses the current human resources but also makes manpower forecasts and thereby draw employment programmes. Manpower Planning is advantageous to firm in following manner: 1. Shortages and surpluses can be identified so that quick action can be taken wherever required. 2. All the recruitment and selection programmes are based on manpower planning. 3. It also helps to reduce the labour cost as excess staff can be identified and thereby overstaffing can be avoided. 4. It also helps to identify the available talents in a concern and accordingly training programmes can be chalked out to develop those talents. 5. It helps in growth and diversification of business. Through manpower planning, human resources can be readily available and they can be utilized in best manner.
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6. It helps the organization to realize the importance of manpower management which ultimately helps in the stability of a concern.

Advantages of manpower planning:

1. It is useful both for organization and nation. 2. It generates facilities to educate people in the organization. 3. It brings about fast economic developments. 4. It boosts the geographical mobility of labor. 5. It provides smooth working even after expansion of the organization. 6. It opens possibility for workers for future promotions, thus providing incentive. 7. It creates healthy atmosphere of encouragement and motivation in the organization.

Example of Employee Levels in an organisation:

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Segment LEVEL I Senior Management

Grade R-7 R-6 R-5

Designation All Positions above General Manager. General Manager. Deputy General Manager/ Assistant General Manager.

LEVEL II Middle Management

R-4 R-3 R-2 R-1

Sr. Manager/ Manager Deputy Manager Section Manager Assistant Manager Sr. Engineer/ Sr. Executive Engineer/ Executive/ Graduate Engineer

LEVEL III Executive Core

S-1 S-2

Trainee/ Management Trainee S-3 Assistant Engineer/ Assistant Executive/

Diploma Engineer Trainee/ Graduate Trainee LEVEL IV Operative Core S-4 S-5 S-6 S-7 LEVEL V Utility Core U-1 & U-2 U-3 & U-4 Senior Supervisor/ Assistant Supervisor/ Technician Driver Associate/ Helper Peon Sweeper

(Source: Google)

Policy:

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Each year, typically in connection with the annual budgeting process, Department Heads/ Process Owners must systematically review the structure, skills and capabilities of their current organisation/employees against the requirements necessary to effectively carry out future business plans. Based on the outcome of such reviews, the organisation can more efficiently: Prepare recruitment schedules and recruitment budgets. Prepare salary and fringe benefit budget. Prepare training schedules and budget. Update position descriptions to account for new responsibilities.

Responsibility
Department Heads/Process Owners are responsible for review of their departments and making recommendations for future requirements. Divisional Heads/ Process Owners in consultation with the President are responsible for providing position descriptions to HRM. HRM is responsible for assisting Department Heads/ Process Owners in their reviews, organisational charts, information on employees backgrounds and/or any other pertinent information requested. President in consultation with HRM and Corporate Office is responsible for reviewing, amending and approving final manpower plans.

Application of Approved Manpower Plans:

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HRM will refer to the manpower plan while preparing recruitment, salary, fringe benefit and training budgets.

Process Owners/ Divisional Heads shall ensure that job descriptions are updated if the responsibilities of positions are altered during the manpower planning process and providing these updated job descriptions to HRM.

3.5 RECRUITMENT TRENDS IN INDIA:

Like any other industry, the recruitment industry is cyclical. IT follows the cycles of other industries to a large extent. But the recruitment industry has a significant advantage because of the products it promotes skilled manpower. For any organization, in any kind of economy, skilled manpower is absolutely essential. In a booming economy, companies in India were offering high salaries and attractive incentive packages to attract the best talent to their payroll. However, as the economic downturn hit countries around the world, Indian companies suffered too. Lay-offs, salary cuts and deferred payments became commonplace. A vast pool of skilled, un-employed candidates was created during this recession. During this period, hiring was extremely limited and companies could cherrypick from the cream of the crop. Now that the economy, at least in India, seems to have stabilized and started clawing back to what is was in 2008, some striking trends are being observed in the recruitment industry. These trends have their roots in the recession and its effects on job seekers and recruiters. Some of the key trends have been discussed below. Many companies that cut back to bare bones staff during the worst of the recession are now beginning to hire contract workers. Contract hiring makes sense when the economic situation is still volatile and a company does not want to commit its financial resources to a full-time permanent hire. Also, contract employees are usually brought on board with the idea of handling one set project or providing a select skill set.

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So the process of hiring a contract employee is usually a little more streamlined as well. Today, the key focus of talent acquisition teams has changed from hiring generic skilled resources as strategic buffers to meet future ramp-ups to hiring just-in-time based on business demand. This ensures that lead times are reduced for new employees and costs are reduced for the company since they are not maintaining a bench. Just-in-time hiring is fast becoming the watch word in many companies and is a beneficial trend that is set to embed itself firmly into the recruitment industry. Becoming a freelancer requires a great deal of domain experience, commitment, integrity, flexibility and confidence. Though the going might be tough initially, returns can be very good provided a freelancer is good at the job and enterprising enough. To become and independent consultant, a person has to have a command over his field of experience and a relatively good network in the industry. Freelancing and consulting may form a small percentage of the recruitments in India, but recent trends show more professionals inclined towards them. Companies after recruiting thousands of professionals from different colleges, are providing training for the stream they want them To provide the students who are not really talented who got selected by luck, could not survive and retention takes place due to the Pressurized situation. Therefore, companies should not entirely look up on the academic performance of the student but the practical knowledge of the Student. By doing this, companies can reduce the training period and retention can be avoided. Reflecting the bullish employment market, companies in India plan to recruit new personnel at a hectic pace over the next three months, with the manufacturing industry expected to offer the strongest hiring prospects, says a survey. Staffing services firm Manpower's Employment Outlook Survey released today showed that employers in India have the strongest hiring intentions for the 2011 second quarter. India's net employment outlook -an indicator of recruitment intentions - rose to 51% on a seasonally adjusted basis for the three-month period starting April. The same stood at just 43% for the first three months of this year. "Employers (in India) from manufacturing, finance, insurance, real estate, public administration and education and wholesale and retail trade report strongest hiring plans to date," Manpower said. The manufacturing sector leads the way with a hiring outlook of 56%, followed by finance, insurance and real estate (55%). India is benefiting

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from the global economic recovery, especially in the US. Overall demand has gone up resulting in robust hiring trends, Kishore noted. In the wake of the global financial crisis in 2008-09, many firms had resorted to massive layoffs to cut down costs. The findings are based on a survey of 5,112 employers across the country. According to the report, employers in the South have the strongest hiring expectations, reflected in a net employment outlook of 58%. It is followed by North (54%). East (53%) and West (43%). Meanwhile, Manpower's survey -- which also covered 38 other countries -- revealed that employers in India, Taiwan, Brazil, China, and Turkey have the strongest second-quarter hiring expectations. European countries, which have been rattled by the sovereign debt turmoil, particularly Greece, Spain and Ireland, as well as Italy, recorded "the weakest forecasts globally".

MANPOWER IN INDIA:
According to the Manpower Employment Outlook Survey released today, the survey of 5,112 employers across India indicates that most Indian employers are bullish with their hiring plans. The Net Employment Outlook of +51% for India (Seasonally Adjusted Data), improves by eight and thirteen percentage points quarter-over-quarter and year-over-year, respectively. Positive hiring plans are reported by employers in all seven industry sectors and all four regions, and Outlook improve in all seven industry sectors when compared to both the previous quarter and to 2Q 2010. Job seekers in the Manufacturing Sector (+56%) and Finance, Insurance and Real Estate Sector (+55%) can look forward to the most vigorous hiring pace in the next three months, while the weakest but still robust hiring plans are reported by employers in the Transportation and Utilities sector (+41%). The Manpower survey shows employers in 33 of 39 countries and territories report varying degrees of positive hiring activity for the second quarter. Employers in India, Taiwan, Brazil, China, and Turkey report the strongest second-quarter hiring expectations, while those Greece, Spain, Ireland and Italy report the weakest forecasts globally. Hiring plans across the Asia Pacific region continue to be strong with Net Employment Outlooks improving year-overyear in seven of eight countries and territories Manpower surveys. However, compared to three months ago, Outlooks are marginally weaker in Singapore, New Zealand, China and
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Hong Kong. Regional hiring expectations continue to be strongest in India and Taiwan and weakest in Japan. "This is Indias strongest employment forecast since survey started in 2005; great news is that all the sectors are showing robust hiring pace and creating jobs in large numbers. The hiring plans in the Manufacturing Industry sector is the most positively reported by employers since the India survey started in 2005.

INDUCTION:
The purpose an induction policy is to ensure that all employees have the benefit of a properly structured Induction Programme that will help them to integrate into their role in the organisation quickly and effectively. Through the induction policy / checklist process, employees should have all of their necessary initial orientation, safety, training and information needs addressed. An induction programme is the process used within many businesses to welcome new employees to the company and prepare them for their new role. Induction training should, according to TPI-theory, include development of theoretical and practical skills, but also meet interaction needs that exist among the new employees. In order to fully benefit the company and employee, the induction programme should be planned in advance. A timetable should be prepared, detailing the induction activities for a set period of time (ideally at least a week) for the new employee, including a named member of staff who will be responsible for each activity. An induction programme is an important process for bringing staff into an organisation. It provides an introduction to the working environment and the set-up of the employee within the organisation. The process will cover the employer and employee rights and the terms and conditions of employment. As a priority the induction programme must cover any legal and compliance requirements for working at the company and pay attention to the health and safety of the new employee.

Reasons for Induction Programme:

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1) It allows new employees to understand the standards of the employer (in terms of work expectations).

2) It sets up the employee with the knowledge of what is required of them in certain situations (such as in respect to harassment).

3) It sets up safety procedures so all people can behave in an appropriate way (in regards to wearing PPE, or during an evacuation).

4) It may inform the employee of the structure of the company (who does what) and where they can go if they need help, or have an enquiry.

INDUCTION PROCESS:

1) It is the duty of HRM to ensure that induction is dealt with in an organised and consistent manner. The induction process starts with the framing of the induction schedule by HRM, which is sent to all the concerned departments informing them of the date, and time when the new incumbent shall be visiting the respective unit/department. Adequate thrust is given to the areas where the employee shall be dealing frequently during the course of his/her operations within the organisation. The responsibility for induction is demarcated & all the people whom the new incumbent needs to know are identified.

2) During the process of induction, the new member is briefed about the following : 1. Company Profile / Company Product
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2. Geographical familiarization 3. Organisational Climate 4. Policies & Procedures 5. Socialisation with department rituals. 6. Work Systems 7. Employee Involvement activities

3) Once the induction process starts it is the duty of all the concerned departments to ensure that the programme is a success. 4) Any change in induction schedule is to be informed to the concerned individuals to avoid any confusion. 5) The immediate supervisor is responsible for : Arranging for work area for the new employee before he/she commences work. Detailed discussion on the job responsibilities.

CHAPTER FOUR

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Study of the Selected Research Problem:

4.1 Statement of the Research Problem: Instrument used to measure the system in Sharekhan was of primary and secondary kinds. The primary source of data was through questionnaire schedule. The secondary source included brochures, annual reports, magazines, employees handbook, magazines and journals.

To have knowledge and understanding of job specification and job description of different positions in different grades.

To analyze the level of satisfaction of the employees in respect of the process followed in the organization.

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4.3 RESEARCH DESIGN AND METHODOLOGY:

Research is a process in which the researcher wishers to find out the end result for a given problem and thus the solution helps in future course of action. According to Redman & Mory research is defined as a Systemized effort to gain new knowledge. According to Claire Seltiz, a research design is the arrangement of condition and analysis of data in manner that aims to combine relevance to the research purpose with economy in procedure. Research design can be divided into fixed and flexible research designs (Robson, 1993). Others have referred to this distinction with quantitative research designs and qualitative research designs. However, fixed designs need not be quantitative, and flexible design need not be qualitative. In fixed designs the design of the study is fixed before the main stage of data collection takes place. Fixed designs are normally theory-driven; otherwise its impossible to know in advance which variables need to be controlled and measured. Often these variables are quantitative. Flexible designs allow for more freedom during the data collection. One reason for using a flexible research design can be that the variable of interest is not quantitatively measurable, such as culture. In other cases, theory might not be available before one starts the research.

NATURE OF RESEARCH

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Research is basically of two types.

1.

Descriptive research: The descriptive research design is a scientific method which involves observing and describing the behaviour of a subject without influencing it in any way.

2.

Explorative research: Explanatory research focuses on why questions. For example, it is one thing to describe the crime rate in a country, to examine trends over time or to compare the rates in different countries. It is quite a different thing to develop explanations about why the crime rate is as high as it is, why some types of crime are increasing or why the rate is higher in some countries than in others.

Descriptive Research: These studies are concerned with describing the characteristic of a particular individual or a group.

Descriptive Primary Research Questionnaire method Direct Personal Interview

DATA SOURCES:
PRIMARY DATA

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SECONDARY DATA

PRIMARY DATA:Primary data is that kind of data which is collected by the investigator himself for the purpose of the specific study. The data such collected is original in character. The advantage of third method of collection is the authenticity. A set of question s was put together in the form of questionnaire with. Question. The method of sampling was the random method as it is unbiased. Basic methods of collecting Primary Data: 1) Questionnaire Method: The questionnaire used by us for the purpose of data collection were of structured type( Non-disguised as well as Disguised)
2) Contact Method: In order to derive information from the intended organization, it was

elementary for us to search for a link, which could enable us to conduct a research in that organization. The personal contact of one of the group members in the aforesaid organization helped us in getting an appointment soon. SECONDARY DATA:When an investigator uses the data that has been already collected by others is called secondary data. The secondary data could be collected from Journals, Reports and Various Publications. The advantages of secondary data can be economical, both in the term of money and time spent. The researcher of the reporter also did the same and collected secondary from various Internet sites like google.com, altavista.com and many more. The researchers of the reporter also visited various libraries for collection of the introduction part.

Basic methods of collecting secondary data: 1) Magazines 2) Books 3) Brochure

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 Benefits of Secondary Data:

1. It is economical as it saves efforts and expenses for the researcher. Therefore, this is

one advantage that secondary data has for the researcher over primary data.

2. It helps to make primary data collection more specific since with the help of secondary data, we are able to make out what are the gaps and deficiencies and what additional information needs to be collected.

3. It helps to improve the understanding of the problem better when there are extra

material is available. This extra material can be availed from the government libraries where the researcher needs to have the library card.

4. It provides a basis for comparison for the data that is collected by the researcher.

This is because various data is collected from past years that can be compared thoroughly. The data available can be checked to verify its accuracy and data compared will give performance matter for the researcher.

5. The secondary data provides a larger database than the primary data to the researcher. In this way, the researcher is assured that the data obtained is logical and accurate. This is because the data is made available from the Internet, books, etc.

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SELECTION OF SAMPLES:-

Sample size is 100

SAMPLE DESIGN:Employees working in Sharekhan and the management ranks are working in different categories of different department.

STATISTICAL TOOLS:It is very difficult to have detailed knowledge of employees working in Sharekhan The management ranks are working in different categories of different department. Thus it becomes equally justified to plan in such a way that it covers all departments.

TOOLS:-

Pie chart Bar diagram Text and statements

QUESTIONNAIRE DESIGN
As the questionnaire is self-administered one, the survey is kept simple and user-friendly. Words used in questionnaire are readily understandable to all respondents. Technical jargon is avoided to ensure that there is no confusion for respondents. The contents and the purpose of the questions asked are used to measure variables of subjective nature.

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LIMITATION TO THE RESEARCH:-

1. The main source of data is primary data that is not that useful for the researcher. 2. 100 samples do not reflect the opinion of employees as a whole because it could be

proved bias. In this way, the company can be protected.

3. Time limit was another limitation and there may be possibility of committing a

general error due to rush in the making of the project. Time was less due to other internal events in the college such as college fest, college functions, etc.
4. Convincing the employees was difficult as they were too busy in their work.

Therefore, the project required me to take special permission from the supervisor to conduct the surveys on office premises.
5. There was limitation of geographical areas. This was because South Delhi was not

surveyed which could have provided different opinions for the data and analysis.
6.

There were added traveling expenses as the office of Sharekhan was very far. The added expenses must be sought before making the project.

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Chapter Five: ANALYSIS 5.1 Analysis of Data Q1) In your organization the manpower requirement is identified well in advance?

OPTIONS Strongly agree (5) Moderately agree (4) Strongly disagree (3) Moderately disagree (2) Cant say (1)

IN NUMBER 15 70 0 15 0

IN PERCENTAGE 15% 70% 15% -

INTERPRETATION:
1. 2. 15% of the employees are strongly agreed that in our organization the manpower requirement is identified well in advance. 70% of the employees are moderately agreed that in our organization the manpower requirement is identified well in advance.

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3.

15% of the employees are moderately disagreed that in our organization the manpower requirement is identified well in advance.

Q2)

Is there any well defined recruitment policy?

OPTIONS Strongly agree (5) Moderately agree (4) Strongly disagree (3) Moderately disagree (2) Cant say (1)

IN NUMBER 45 50 5 0 0

IN PERCENTAGE 45% 50% 5% -

INTERPRETATION:
1. 2. policy. 3. 5% of the employees are strongly disagreed that there is well defined recruitment policy. 45% of the employees are strongly agreed that there is well defined recruitment policy. 50% of the employees are moderately agreed that there is well defined recruitment

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Q3)

Do you think present selection process is feasible for selecting the employees?

OPTIONS Strongly agree (5) Moderately agree (4) Strongly disagree (3) Moderately disagree (2) Cant say (1)

IN NUMBER 10 80 0 10 0

IN PERCENTAGE 10% 80% 10% -

INTERPRETATION:
1. 2. 3. 10% of the employees are strongly agreed that present selection process is feasible for selecting the employees. 80% of the employees are moderately agreed that present selection process is feasible for selecting the employees. 10% of the employees are moderately disagreed that present selection process is feasible for selecting the employees.

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Q4)

Are the views of the concerned department head are given special attention while selecting the employees of the department?

YES

NO

OPTIONS Yes No

IN NUMBER 60 40

IN PERCENTAGE 60% 40%

INTERPRETATION:

1. 2.

60% of the employees said that views of the concerned department head are given special attention while selecting the employees of the department. 40% of the employees said that views of the concerned department head are not given special attention while selecting the employees of the department.

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Q5)

Are external sources are relied upon when requirement arises?

OPTIONS Yes No

IN NUMBER 60 40

IN PERCENTAGE 60% 40%

INTERPRETATION:

1. arises. 2.

60% of the employees said that external sources are relied upon when requirement 40% of the employees said that external sources are not relied upon when requirement arises.

Q6)

To identify the employees capability and aptitude psychological

testing is used. Do you think it is useful to use this technique?

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OPTIONS Strongly agree (5) Moderately agree (4) Strongly disagree (3) Moderately disagree (2) Cant say (1)

IN NUMBER 35 50 0 15 0

IN PERCENTAGE 35% 50% 15% -

INTERPRETATION: 1. 2. 3. 35% of the employees are strongly agreed that it is useful to identify the employees capability and aptitude psychological testing. 50% of the employees are moderately agreed that it is useful to identify the employees capability and aptitude psychological testing. 15% of the employees are moderately disagreed that it is useful to identify the employees capability and aptitude psychological testing.

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Q7)

Is there any participation by the line manager in planning and recruitment?

OPTIONS Strongly agree (5) Moderately agree (4) Strongly disagree (3) Moderately disagree (2) Cant say (1)

IN NUMBER 5 45 15 20 15

IN PERCENTAGE 5% 45% 15% 20% 15%

INTERPRETATION:
1. 2. 3. 4. 5. 5% of the employees are strongly agreed that there is participation by the line manager in planning and recruitment. 45% of the employees are moderately agreed that there is participation by the line manager in planning and recruitment. 15% of the employees are strongly disagreed that there is participation by the line manager in planning and recruitment. 20% of the employees are moderately disagreed that there is participation by the line manager in planning and recruitment. 15% of the employees cant say that there is participation by the line manager in planning and recruitment.

Q8)

Is principal of right man for the right job is strictly followed?

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OPTIONS Strongly agree (5) Moderately agree (4) Strongly disagree (3) Moderately disagree (2) Cant say (1)

IN NUMBER 20 60 5 10 5

IN PERCENTAGE 20% 60% 5% 10% 5%

INTERPRETATION:
1. 2. 3. 4. 5. 20% of the employees are strongly agreed that principal of right man for the right job is strictly followed. 60% of the employees are moderately agreed that principal of right man for the right job is strictly followed. 5% of the employees are strongly disagreed that principal of right man for the right job is strictly followed. 10% of the employees are moderately disagreed that principal of right man for the right job is strictly followed. 5% of the employees cant say that principal of right man for the right job is strictly followed.

Q9)

Which internal or external source of recruitment is followed by the company?

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OPTIONS Employment exchange Campus interview Advertisement Promotion Training

IN NUMBER 0 30 50 10 10

IN PERCENTAGE 30% 50% 10% 10%

INTERPRETATION:

1. 2. 3. 4.

30% of the employees said that recruitment is made through campus interview. 50% of the employees said that recruitment is made through advertisement. 10% of the employees said that recruitment is made through promotion. 10% of the employees said that recruitment is made through training.

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Q10) Recruitment is made according to?

OPTIONS Immediate need Yearly wise Both Any other

IN NUMBER 55 10 25 10

IN PERCENTAGE 55% 10% 25% 10%

INTERPRETATION:

1. 2. 3. 4.

55% of the employees said that recruitment is made according to immediate need. 10% of the employees said that recruitment is made according to Yearly wise need. 25% of the employees said that recruitment is made according to both the needs. 10% of the employees said that recruitment is made according to any other need.

Q11) Is any traveling allowance given for outstation candidates who are called for interview?
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OPTIONS Yes No

IN NUMBER 50 50

IN PERCENTAGE 50% 50%

INTERPRETATION:

1.

60% of the employees said that traveling allowance is given for outstation candidates who are called for interview.

2.

40% of the employees said that traveling allowance is not given for outstation candidates who are called for interview.

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Q12) Is the employee aware of the positive and negative effects of the job?

OPTIONS Strongly agree (5) Moderately agree (4) Strongly disagree (3) Moderately disagree (2) Cant say (1)

IN NUMBER 35 55 10 0 0

IN PERCENTAGE 35% 55% 10% -

INTERPRETATION:
1. 2. 3. 35% of the employees are strongly agreed that the employee aware of the positive and negative effects of the job. 55% of the employees are moderately agreed that the employee aware of the positive and negative effects of the job. 10% of the employees are strongly disagreed that the employee aware of the positive and negative effects of the job.

Q13) Do you think succession planning is done in advance?

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OPTIONS Strongly agree (5) Moderately agree (4) Strongly disagree (3) Moderately disagree (2) Cant say (1)

IN NUMBER 10 60 10 5 15

IN PERCENTAGE 10% 60% 10% 5% 15%

INTERPRETATION:

1. 2. 3. 4. 5.

10% of the employees are strongly agreed that succession planning is done in advance. 60% of the employees are moderately agreed that succession planning is done in advance. 10% of the employees are strongly disagreed that succession planning is done in advance. 5% of the employees are moderately disagreed that succession planning is done in advance. 15% of the employees cant say that succession planning is done in advance.

Q14) Is induction programme is conducted immediately after the recruitment?

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OPTIONS Strongly agree (5) Moderately agree (4) Strongly disagree (3) Moderately disagree (2) Cant say (1)

IN NUMBER 60 35 5 0 0

IN PERCENTAGE 60% 35% 5% -

INTERPRETATION:

1. 2. 3.

60% of the employees are strongly agreed that Induction programme is conducted immediately after the recruitment. 35% of the employees are moderately agreed that Induction programme is conducted immediately after the recruitment. 5% of the employees are strongly disagreed that Induction programme is conducted immediately after the recruitment.

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5.2 Summary of FINDINGS:

1. It was found that many agreed that manpower requirements were well identified in advance. 2. It can be said that the line manager play an effective role in participating in planning and recruiting as found out in the data analysis. 3. The Company has an effective & time-tested system of selection & recruitment, which is working satisfactorily.
4.

The employees are very much aware of the policy guided by the organization for recruitment and selection.

5. people. 6.

It was found that succession planning was done in advance as agreed by many

The employees are satisfied with the current selection procedure. The present method of selection/recruitment is providing the company with effective & efficient manpower, which is getting reflected in the performance of the Company & is its market image as also its reputation, which has improved significantly over the years.

7.

The present system & process of selection & recruitment followed by the Company, in the view of the forgoing, does not warrant any change.

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Chapter Six Summary And Conclusions: 6.1 Summary of Learning Experience:

I have worked at Mahindra and Mahindra Auto Sector. The main office is located in Bhikaji Cama Place, New Delhi. The main goal of the internship is to allocate total of 25 candidates in different authorized showrooms of the company in the field of Sales and Marketing. The candidates would be working as part timers for four to five hours a day. I have learned how to talk with different people in different situations. I was in direct contact with the candidates that increased my self confidence. I am satisfied with the work allocated to me at the office. I understood how deadlines were to be completed. I learned about the sector from different views from the colleagues at the workplace. I liked the work culture at the organization. Everyone are punctual and committed to their goals. Now, I am well aware of the profile of the company. I have the deeper understanding of the different cars that the company sells. The tasks that I did at the firm have made me self independent. I can now easily adapt to the workplaces of automobile companies. The training has taught me to be punctual at work. I have to respect my seniors. I have improved my communication skills as I interacted with many people. The internship has given me the knowledge and current status of the automotive sector. I have learned how sales play an important role in attaining customers. There are lots of changes in me now. This training changed me completely. I was taught how to take calls of the candidates and what key areas were to be observed. It is a great opportunity for me to work for such a company. It treats its employees with respect and dignity. The training was a challenge that I graciously undertook. It was the opportunity for me to prove myself. The staff members at the office were supportive and helpful. They have helped me throughout the training. They accepted me as a part of their organization. They were very kind to invite me to their conference rooms for lunch periods. I will always appreciate and remember the relationship with all of them. This training was very beneficial and resourceful for me and will add to my career opportunities.

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6.2 Summary of Findings:

1.

The present system of manpower planning is working efficiently and does not require any change right now but keeping in mind the future needs of organisation, changes should be incorporated to maintain the level of efficiency and effectiveness.

2.

It is more so since the company have to recruit employees for specified activities with some basic educational qualification and experience related to the core business area of the company.

3.

The awareness level is satisfactory at executive and employee level but unsatisfactory at worker level. Therefore, management should ensure that a high level of awareness should be there among all workers so that every body in the company contributes towards hiring the best candidate for a particular job. 3. Recruitment and selection process in the organisation is appropriate because candidates are hired through referrals generally, but other sources like placements and advertisements should also be considered.

Apendices:
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QUESTIONNAIRE
Name. Designation. Department..

Q1)

In your organization the manpower is identified well in advance? a) Strongly agree b) Moderately agree c) Strongly disagree d) Moderately disagree e) Cant say

Q2)

Is there any well defined recruitment policy? a) Strongly agree b) Moderately agree c) Strongly disagree d) Moderately disagree e) Cant say

Q3)

Do you think present selection process is feasible for selecting the employees? a) Strongly agree b) Moderately agree c) Strongly disagree d) Moderately disagree e) Cant say

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Q4)

Are the views of the concerned department head are given special attention while selecting the employee of the department?

a) b) c) d) e)

Strongly agree Moderately agree Strongly disagree Moderately disagree Cant say

Q5)

Are external sources are relied upon when requirement arises?

a) b)

Yes No

Q6)

To identify the employees capability and aptitude psychological testing is used. Do

you think it is useful to use this technique?

a) b) c) d) e)

Strongly agree Moderately agree Strongly disagree Moderately disagree Cant say

Q7)

Is there any participation by the line manager in planning and recruitment? a) Strongly agree b) Moderately agree c) Strongly disagree d) Moderately disagree

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e) Cant say Q8) Is principal of right man for the right job is strictly followed? a) Strongly agree b) Moderately agree c) Strongly disagree d) Moderately disagree e) Cant say

Q9)

Which internal or external source of recruitment is followed by the company? a) Strongly agree b) Moderately agree c) Strongly disagree d) Moderately disagree e) Cant say

Q10)

Recruitment is made according to? Immediate need Yearly wise Both Any other

a) b) c) d)

Q11)

Is any traveling allowance given for outstation candidates who are called for

interview?

a) b)

Yes No

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Q12)

Is the employee aware of the positive and negative effects of the job?

a) Strongly agree b) Moderately agree c) Strongly disagree d) Moderately disagree e) Cant say

Q13)

Do you think succession planning is done in advance?

f) Strongly agree g) Moderately agree h) Strongly disagree i) j) Moderately disagree Cant say

Q14)

Is induction programme is conducted immediately after the recruitment?

a) Strongly agree b) Moderately agree c) Strongly disagree d) Moderately disagree e) Cant say

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BIBILIOGRAPHY

BOOKS:

Philip Kotler , Marketing Managemnt Prentice Hall Of India.New Delhi,10th edition ,2001 Kothari C.R.Research Methodology Wishwa Prakashan,New Delhi,2nd edition , 2001. Kulkarni M.V.Marketing Research Everest Publishing House,Mumbai, Millinium edition,2001..

NEWSPAPERS:

The Financial Express The Times of India The Economic Times The Business Standard

WEBSITES:
www.indiainfoline.com
www.economics

times.com

www.investopedia.com www. nse-india.com

www.bseindia.com www.moneycontrol.com

www.sharekhan .com

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