TAR Ramprakash Balaji
TAR Ramprakash Balaji
TAR Ramprakash Balaji
PROJECT ON
Submitted By:
Ramprakash Balaji
21BSPHH01C1613
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Table of Contents
Introduction: .............................................................................................................................. 3
Background of the Company ...................................................................................................... 3
Defining Recruitment and Selection ............................................................................................ 4
Recruitment and Selection related facto rs .................................................................................. 5
External Elements ..................................................................................................................... 5
Internal elements include ........................................................................................................... 5
Recruitment ................................................................................................................................ 6
Recruitment procedure ............................................................................................................... 6
Types of recruitment................................................................................................................... 6
Internal Interview:..................................................................................................................... 6
External Recruitment................................................................................................................. 7
Mixed Recruitment ................................................................................................................... 7
Concomitant Model................................................................................................................... 7
Online Employment .................................................................................................................. 7
Selection...................................................................................................................................... 7
A step-by-step process for selection............................................................................................. 8
Job analysis................................................................................................................................. 9
Recruitment and selection process at Opulence ........................................................................ 10
Conclusion: ............................................................................................................................... 11
References: ............................................................................................................................... 11
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Introduction:
Recruitment in the context of human resource management refers to the timely and cost-
effective process of identifying and choosing the best candidate for a job opportunity. In
essence, it involves selecting a candidate who is best suited for a specific position. Because it
is highly challenging to repeatedly go through the arduous procedure for the same job function,
as it includes energy, time, expense, and resources, choosing the appropriate applicant is
extremely crucial for any firm. Either internally or externally, the hiring process for a candidate
must be flawless and professional.
The core competency lies in in-house expertise in dealing with several regulatory and
judiciary bodies, financial institutions, private equity players, banks, legal, technical
consultancy, backed by a strong team having comprehensive understanding of addressing
clients' advice needs at every stage of the process. They offer a variety of solutions to their
Clients and Partners in the fields of consulting, knowledge process outsourcing, and
financial services. They deal with the client right from pre-transaction, transaction till post-
transaction taking care of the company’s growth considering implications at every stage for
promoters andstakeholders. My Internship is associated with the finance team of Opulence
Business Solutions Pvt. Ltd. which aims to provide unmatched solutions and support to its
clients. Further in the internship, I am working with the website development team as well.
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Services Provided
1. Investment Banking
2. Consultancy
3. Financial Advisory
4. Assets Management Company
5. Private placement
6. Structured Finance
7. Risk management
8. Investment Research
9. Public Finance
For recruiting professionals, the phases of recruitment and selection are separate. Recruitment
and selection is the process of identifying, attracting, and selecting the most suitable candidate
for a job within an organization. It is a critical process that helps organizations to attract and
retain top talent, and ultimately contribute to the organization's success.
The recruitment process begins with identifying the need for new employees. This is typically
done by analysing the company's current workforce, identifying any gaps in skills or
experience, and determining the number of new hires required to meet the organization's goals.
Once the need for new employees has been identified, the next step is to attract a pool of
qualified candidates. This can be done through various methods such as advertising job
openings on company website, social media platforms, job portals, and recruiting agencies, or
by networking and reaching out to potential candidates directly. Recruitment may be a part of
the processes used to choose candidates for training programmes or volunteer work, for
instance.
The interviewing, evaluation, and selection of candidates for a particular job are all considered
to be part of the selection process. The final step will be the selection of an applicant for the
position using predefined criteria. Selection can be a fairly simple process or a very challenging
one, relying largely on the organisation you chose work with and the position the candidate is
looking for. It is essential to remember that all hiring procedures must go by certain labour
laws in order to protect both the company and the candidate and to stop discriminatory hiring
practises.
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Recruitment and Selection related factors
Choosing and employing employees for the jobs requires time and resources, regardless of how
big or small the organisation is. However, they do not consider the same element. Even though
some elements directly affect the process, organisations usually ignore them. Administrative
recruiting considerations can be broadly categorised into internal and external elements.
External Elements
Supply and demand are a good indicator of the exact abilities that employers are looking for.
In the event that there is a substantial disparity between the supply and demand for a certain
skill, a greater recruitment effort may be required. Therefore, the easier it is to hire and select
a company, the higher the unemployment rate in a certain location. The unemployment rate is
currently one of the deciding factors in the hiring and selecting process. Due to the magnitude
of the unskilled candidate pool, it is difficult to attract and retain suitable candidates. On the
other hand, given the lowering unemployment rate, it is crucial to look at novel hiring
strategies.
The reputation of the organisation has a direct impact on the number of candidates drawn to
the position. In many cases, the candidate gives the company's attributes and workplace culture
more weight than the salary on offer. Employers typically favour candidates who reside in the
state in question. Significant modifications, interview-related travel expenses, and future
allowances are all removed. The company's reputation is essential since it attracts a large pool
of candidates from a variety of educational backgrounds.
The majority of businesses use an internal or external hiring policy. Organizations frequently
use recruitment by appointment because employees have a better understanding of the business
and may propose applicants who will fit in well with the organization's culture.
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Recruitment
The hiring process includes locating, screening, recruiting, and ultimately onboarding qualified
job candidates.
Recruitment is crucial since it aids in separating applicants that are overqualified from those
that are underqualified. As a result, it is easier to select the candidates who would best meet
the needs of the company from the larger pool of applicants.
Recruitment procedure
Making a job offer; conducting interviews with candidates who made it through the selection
process; and integrating new hires.
Types of recruitment
Internal Interview:
Employee engagement and job satisfaction may increase as a result of the internal hire since
they perceive new career options. Current personnel are more likely to be embedded in the
culture of the company when they are used to fill reputable jobs. However, problems could
arise if the internal promotion procedure is thought to be unjust.
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Using fair hiring or promotion processes and procedures is the greatest way to
prevent unfavourable consequences. The organisation helps workers comprehend and accept
the outcomes of the approach and reduces unease by outlining the policies and processes of a
structured promotion process.
External Recruitment
One strategy utilised for external hiring is disclosure. The organization's strategy, which is
often one that encourages internal transfers and promotions, has a significant impact on
managers' decisions about hiring methods, whether they are internal or external.
Mixed Recruitment
The term "mixed recruitment" refers to the combination of internal and external processes. Its
design enables it to strike a balance between the need to fill the position and the appreciation
of the company's strengths.
Concomitant Model
There is simultaneous hiring from both inside and outside. This allows for the establishment of
a level playing field for the competitors.
Online Employment
When conducting online hiring and selection, HR can benefit from using the internet.
This improves the efficacy of both internal and external hiring. However, in order to interact
with more prospects and automate the processes, a specific platform is necessary in order to
achieve this.
Selection
Selection is the process of choosing individuals with the qualifications and expertise needed to
fill available jobs inside the organisation. Selection is the process of choosing individuals with
the qualifications and expertise needed to fill available jobs inside the organisation.
A thorough evaluation of a candidate cannot be hurried. As a result, hiring processes are
typically difficult and lengthy. Many businesses rely their hiring choices on methods and hoax
sciences like graphology, astrology, phenology, and physiognomy.
However, modernity saw these standards as being ambiguous. A recruiter needs to be able to
clearly observe and evaluate a candidate's qualifications before selecting them for a position.
If the applicant's evaluation is unsatisfactory at any point, he is not taken into account for the
further phases.
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So,He will therefore be declined. For instance, if the examination of a candidate's
personal information is unsatisfactory, they might not be accepted for testing. Similar to this,
applicants who show up on the exams won't get a call for the interview.
The approach that comes next is typical, though it can be changed based on the outcomes to
assess each circumstance specifically.
Thorough interview
Informal conversation
Initial consultation
Behaviour interview
Tense interview
Applicant may take one of several examinations to be evaluated and shortlisted for the
following phase of the selection process.
Among the evaluations available are ability, aptitude, personality, interest, graphology, and
polygraph exams.
The organisation may conduct a variety of interviews, and they differ from business to
business: one-on-one, sequential, and panel interviews are a few examples.
Many employers ask candidates for names, addresses, and contact or reference numbers for
informational purposes and possibly to learn more about the applicant. The reference serves
two purposes: determining the candidate's likelihood of success and gathering information
about the candidate from managers and staff members who have previously dealt with the
candidate.
After acquiring data through the preceding procedures, the selection decision—the most
important of all processes—must be made. Using the additional screening stages, the number
of applicants was reduced. The ultimate decision must be made by the group of candidates who
have passed all of the benchmarks, interviews, and exams.
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Phase: 6- Physical examinations
Some professions require extraordinary stamina, stamina, and the capacity to withstand
demanding working conditions. In such cases, the applicant must pass the physical examination
administered by the corporate physician or another qualified medical professional.
Determining a candidate's physical suitability for the position.
This protects companies from erroneous compensation claims from employees, such as injury
or illness that already existed at the time of recruiting.
Some professions require extraordinary stamina, stamina, and the capacity to withstand
demanding working conditions. In such cases, the applicant must pass the physical examination
administered by the corporate physician or another qualified medical professional.
Determining a candidate's physical suitability for the position.
This protects companies from erroneous compensation claims from employees, such as injury
or illness that already existed at the time of recruiting.
After a job offer is made and accepted, specific paperwork must be submitted by both the
applicant and the employer. Since the employment contract is the formal record of the hiring
procedure, it must be created.
Contrary to popular opinion, the selection process does not cease with contract execution.
There is one additional, trickier phase in the process of giving feedback to unqualified
prospects.
Job analysis
Job analysis is the process of determining the duties, responsibilities, and requirements of a job
within an organization. It is a crucial step in the recruitment and selection process as it helps to
identify the specific knowledge, skills, and abilities required for a particular job and ensures
that the right person is selected for the role.
At Opulence Business Solutions Private Limited, job analysis begins with identifying the
specific job for which the analysis is being conducted. This typically involves reviewing the
job description and the current workforce, and determining the specific duties, responsibilities,
and requirements of the job.\
Next, the organization may conduct a task analysis, which involves breaking down the job into
its component parts and identifying the specific tasks and duties that the employee will be
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responsible for. This can be done through interviews with current employees,
observations, or by reviewing documents such as job descriptions or work procedures.
Once the tasks and duties have been identified, the organization will then conduct a skill and
knowledge analysis. This involves determining the specific knowledge, skills, and abilities
required to perform the job. This can be done through interviews with current employees,
review of job descriptions and other documents, and through the use of job analysis
questionnaires or structured interviews.
Based on the findings of the job analysis, Opulence Business Solutions Private Limited can
develop job descriptions, identify the qualifications and experience required for the job, and
determine the selection criteria for recruiting and selecting new employees. The information
gathered through job analysis can also be used to design training and development programs
for current employees and to evaluate the performance of existing employees.
In conclusion, job analysis is a crucial step in the recruitment and selection process, and it plays
an important role in ensuring that the right person is selected for the job. By conducting a
thorough job analysis, Opulence Business Solutions Private Limited can identify the specific
knowledge, skills, and abilities required for a particular job, and use this information to attract
and retain top talent and to design effective training and development programs.
In the past, the interview process took two days. After shortlisting the candidates based on
their resumes, they conducted telephone interviews. Nowadays, they only accept applications
via the internet. The results were delivered to the candidate in that evening.
The types of Interviews that Opulence Business Solutions conducts is the direct method of
interview, the online interviews and the telephonic interviews. The Process of Recruitment at
O includes all the steps of recruitment as first they identify the needs of the hiring and then
they prepare the job descriptions and then further a job notice will be sent to the various B-
Schools and colleges and basically a university. So, that the ample amount of the fresh talent
can be recruited into the company.
Opulence Business Solutions recruits the people who are interested in marketing and hr roles.
Mostly company depends on the interns who are the part of the marketing and hr background
of pursuing and the Recruitment process will be continued by arrangement of the interviews
and make the job offer then as per their requirement. Opulence generally put an extra effort on
onboarding.
Then further it proceeds to the Selection process at Opulence, where immediately after the pre
placement talk the shortlisted candidates for interview will have a telephonic interview round
and in that round the interviewer can ask any question which can be related to their domain or
role that is being offered at opulence.
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The Selection can be done on many bases that can be of the performance in the
interview or pitch or can be sometimes people can be rejected if there are a lot of applications
and huge competition and then they look at giving the job offer to the people of having huge
talent and go through all different types of aspects in search of young talents into the
organization.
Further the job is offered then the next step will be the induction and orientation and the rules
and regulations and the roles and responsibilities of an employee will be shared, the
introduction and the history of the company etc will be helpful to get adjust to the Company.
Conclusion:
Any organization's operations must be maintained by its staff. With the completion of these
procedures, corporate organisations today began looking for ways to exchange knowledge and
expertise both internally and externally in order to draw in new individuals. In addition to
finding a candidate with the expertise and ability to perform the job that we are looking to fill,
we also search for someone who shares and supports our company's core values during the
recruitment and selection process. The applicant must be a good cultural match for our
business. Our organisation should receive an employee that is adaptable and gets along well
with others in our industry thanks to the selection and recruitment procedure. High turnover
may occur from failing to choose and hire people for the long term.
References:
https://www.tutor2u.net/business/reference/recruitment-selection-overview
https://articles.jobconvo.com/en/recruitment-and-selection-what-it-is-steps-
strategies-and-techniques/
https://www.managementstudyguide.com/employee-selection-process.htm
http://www.opulencegroups.com/
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