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INTRODUCTION
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INTRODUCTION
RECURITMENT PROCESS
DEFINATION
Recruitment is the process seeking out and attempting to attract individuals in
external labor markets, who are capable of and interested in filling available job
Vacancies .Recruitment is an intermediate activity whose primary function is to serve
as a link between human resource planning on the one hand and selection on the
other.
To Recruit Means To Enlist, Replenish Or Reinforce.
Recruitment begins by specifying the human resource requirements, initiating
activities and actions to identify the possible sources from where they can be met,
communicating the information about the jobs, term and conditions, and prospectus
they offer, and enthusiast people who meet the requirement to respond to the
initiation by applying for the jobs.
AIM
The aim of recruitment is the information obtained from job description and job
specification along with precise staffing standards from the basis for determinig
manpower requirement to attain the organizational objective.
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Recruitment Needs Are Of Three Types:
1 Planned, anticipated and unexpected planned need arise from changes, in
organization and retirement policy.
2 Resignations, deaths and accidents and illness give rise to unexpected
needs.
3 Anticipated needs refer to those movements in personnel which an
organization can predict by studying trends in the internal and external
requirements.
Features Of Recruitment:
1 Process or series of activities rather than a single act or event.
2 A linking activity as it brings together those with the jobs(employer) and
those seeking jobs(prospective employees).
INTERNAL SOURCE OF RECRUITMENT
Internal Transfer/Promotion with necessary screening, training and selection to
meet the specified requirement. It would be desirable to utilize the internal
sources before going outside to attract the candidates. The two categories of
internal sources including a review of the present employees and nomination of
the candidates by employees.
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MERITS AND DEMERITS OF INTERNAL ECRUITMENT
Merits.
Following are the merits of the internal source of recruitment;
1. Increase in Morale
Recruitment through the internal sources, particularly promotion,
increases the morale of the employee. Every body in the organization know that they
can be promoted to a higher post, their morale will be boosted and their work
efficiency will increase.
2. Better Selection
The people working in the enterprise are known by the management and for selection
higher post does not carry any risk as the employees are known.
3. Economical Internal
Internal sources is highly economical because no expenditure is involved in locating
the source of recruitment and no time is wasted in the long process of selection. More
over, these employees do not need extensive training because they already know
about all the works of the enterprise.
4. Labor- turnover is Reduced
When the employees know that they can be promoted to higher posts, they do not
leave the enterprise. As a result of this policy labour turnover is reduced and the
status of the company increases.
5. Better Labour-Management Relation
When the internal source of recruitment is used the employees remains satisfied
which leads to the establishment of better labour-management relationship.
Demerits
The internal source of recruitment of employees suffer from the following demerits:
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1. Check on Young Blood
The defect of the internal source of recruitment is that the young people fully
equipped with the modern technical knowledge remain excluded
from the entry in enterprise. As a result, the old people run the enterprise with the old
ideas and experience.
2.Limited choice.
The internal recruitment of the employees reduces the area of choice. The reduction
in the area of choice means less number of applicants. The choice is to be made out of
people working in the enterprise.
3.Encourages Favoritism.
Internal source encourages favoritism in this system, the superiors usually select their
favorites. Sometimes even a less capable person is selected which harms the
enterprise. In this system , generally the personal impression of the managers about
the employee is given preference for selection.
EXTERNAL SOURCES OF RECRUITMENT
An external source of Recruitment is considered from the combination of consultant
and Advertisement
Merits and Demerits of External Recruitment
Merits.
The external recruitment has the following merits:
1.Entry of young blood.
Recruitment through external source brings in new persons with modern ideas which
can be profitable for the organization.
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2.Wide choice.
The use of external source of recruitment increases the number of candidates and
widen the choice. The managers judge the capabilities of the applicants and select the
best ones for appointment.
3.Less Chances of Favouritism.
All the candidates, under this system of recruitment, are new for the managers and
this exclude the possibility of favouratism.
Demerits.
In spite of many merits, the system of recruitment from external sources is not free
from defects. Its chief demerits are:
1.Decrease in Morale of Existing Employees.
By adopting the system of external recruitment the chances of promotion of the
present employees come to an end. Since there is no hope of any promotion the
morale of the employee decreases and they do not perform their work with
dedication.
2.Chances of Wrong Selection.
There are chances of wrong selection due to non-availability of information in case of
external recruitment. If the wrong selection will upset the working condition of the
organization.
3.Costly Source.
The external source of recruitment involves expensive advertisement, long selection
process and training after selection which increases organizational expenditure.
4.Increase in Labour-turnover.
When the employees know that they cannot be appointed on high posts in the
enterprise, they leave the organization at the first available opportunity, and as a
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result an increase in the labour-turnover which lowers the prestige or the reputation of
the enterprise.
5.Detorioration in Labour-Management Relationship.
Making use of the external source of recruitment affects the present employees and
there is an increase in the incidents of strikes and lock-out.
LEGAL & POLITICAL CONSIDERATIONS
The constitution provides for the following as the fundamental rights of a citizen:
Article 16 (1): No citizen shall, on ground of religion, race, caste, sex, descent,
place of birth, residence or any of them, be negligible for an discriminated against in
respect of any employment or office under the state.
Article 16 (3): Nothing in this article shall prevent parliament from making any law
persuading, in regard to a class or classes of employment on appointment to an office
(under the govt. of or any local or other authority within a state or union territory),
any requirement as to residence within that State or Union Territory prior to such
employment or appointment.
The constituent ensures, in the directive principles of state policy, certain safeguards
for scheduled castes, scheduled tribes & other weaker sections. Except in cases which
are covered by Article 46 of the constitution, there can be no discrimination in the
matter of employment anywhere in the country for any citizen.
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Steps on Recruitment Process
The recruitment process consist of the following steps:
Generally begins when the personnel department receives requisitions for
recruitment from any department of the company the personnel requisitions
contains detail about the positions to be filled. number of persons to be
recruited, required from the candidate, terms and conditions of employment
and at the time by which the persons should be available appointment etc.
Locating and developing the sources of required number and type of
employees.
Identifying the prospective employees with required characteristics.
Communicating the information about the organization, the job and the terms
and conditions of service.
Encouraging the identified candidates to apply for jobs in the organization.
Evaluating the effectiveness of recruitment process.
SELECTION
The selection procedure is concerned with securing relevant information about the
applicant. This information is secured in number of steps. The objective of selection
process is to determine whether an applicant meets the qualifications for a specific
job and to choose the applicant who is most likely to perform well in that job
The hiring procedure is not a single act but it is essentially a series of methods by
which additional information is secured about the applicant. At each stage facts,
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which came to light, make the acceptance or rejections of the candidate clear. Some
selection processes are quite easy and some with many hurdles this increases with the
level and responsibility of the positions to be filled.
Essentials of Selection Procedure
The selection process can be successful if the following requirements are satisfied:
1. Someone should have the authority to select. This authority comes from the
employment requisition as developed by an analysis of the work-load and
work force.
2. There must be some standard of personnel with which a prospective
employee may be compared i.e., a comprehensive job description and job
specification should be available beforehand.
3. There must be sufficient number of applicants from whom the required
number of employees may be selected.
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PROCESS OF SELECTION
Selection
Preliminary screening interview
Completion of application or form if not done previously
Employment tests
Comprehensive interview
Back ground investigation
Final employment decision
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Preliminary Interview or Screening
The initial screening is usually conducted by a special interviewer a high caliber
receptionist in the employment office. These interviews are short and are known as
stand-up interviews. The main objective of such interviews is to screen out
undesirable/unqualified candidates at very outset. Such interviews conducted by
someone who inspires confidence, who genuinely interested in people, and whose
judgment in the sizing up of the applicant is fairly reliable.
Basic criteria that must be met for an application to be eligible for consideration. If
these criteria are not met, there is no obligation on the employer to consider such
applications. The screening process therefore seeks to identify those applications that
meet the basic entry-level requirements applications that are therefore incomplete or
do not meet the basic appointment criteria are considered unsuccessful applications.
In order to be fair and objective in the screening of candidates, it is essential that a
fixed set of valid criteria be applied in terms of each and every candidate that applies
for a position.
Certain conditions should be met in relation to the format and content of -
a)Application forms b)Curricula Vitae (CVs) and c)All other relevant
documentation.
What is the purpose of short-listing?
After having completed the screening process and eliminated those applicants that do
not meet the basic requirements, the next objective should be to identify a
manageable size (pool) of applicants (a short-list) who are best suited to fill the
position successfully and from whose ranks the most suitable candidate(s) is/are to be
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selected. It is about identifying a manageable pool of best suited candidates for a
specific position, in the interest of the State, taking into account Affirmative Action
and Employment Equity objectives.
May short-listing be used to reduce a vast number of applications to a manageable
size?
As stated, the primary objective of the short-listing process is to reduce the
Number of qualifying applicants to a manageable size for purposes of selecting
the most suitable candidate. A further objective with short-listing is to rank
candidates, and to determine a cut-off point below which candidates will not be
interviewed. The criteria utilized for short-listing purposes should therefore be in
sufficient detail to allow for this and should be applied consistently.
Application Form
Application form is also known as application blank. The technique of application
blank is traditional and widely accepted for securing information from the prospective
candidates. It can also be used as a device to screen the candidate at the preliminary
level. Many companies formulate their own style of application forms depending
upon the requirement of information based on the size of the company, nature of
business activities, type and level of job etc. they also formulate different application
forms for different jobs, at different levels, so as to solicit the required information
for each job. But few companies in our companies in our country do not have
prescribed application forms.
Psychological Testing
Test is defied as a systematic procedure for sampling human behavior
TESTS ARE USED IN BUSINESS FOR THREE PRIMARY PURPOSES.
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1) for the selection and placement of new employees
2) for appraising employees for promotion potentials and
3) For counseling employees if properly used psychological tests can be of
paramount importance for each of these purposes.
Classification of Tests on the Basis Of Human Behavior
A. Aptitude or potential ability test
Such tests are widely used to measure the latent ability of a candidate to learn
new jobs or skills. They will enable us to know whether a candidate if
selected, would be suitable for a job, which may be clerical or mechanical.
These tests may take one of the following forms.
a) Mental or Intelligence Test - measures and enables to know whether he or she
has mental capacity to deal with new problems.
b) Mechanical Aptitude Test - measures the capacity of a person to learn a
particular type of mechanical wok. This could help in knowing a persons
capability for spatial visualization, perceptual speed manual dexterity, visual
motor coordination or integration, visual insights etc.
c) Psychometric tests these tests measures a persons ability to do a specific job
B. Achievement test
Also known as proficiency tests they measure the skill, knowledge which is
acquired as a result of a training program and on the job experience they
determine the admission feasibility of a candidate and measure what he/she is
capable of doing.
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a) Tests for measuring job knowledge this type of test may be oral or written.
These tests are administered to determine proficiency in shorthand and in
operating calculators adding machines dictating and transcribing machines
and simple mechanical equipment.
b) Work sample tests demand the administration of the actual job as a test. A
typing test provides the material to be typed and notes the time taken and
mistakes committed.
C. Personality tests
These tests aim at measuring those basic make up or characteristics of an
individual which are non-intellectual in their nature. In other words they probe
deeply to discover clues to an individuals value system, his emotional
reactions and maturity and motivation interest his ability to adjust himself to
the illness of the everyday life and his capacity for interpersonal relations and
self image.
a) Objective tests it measures neurotic tendencies self-sufficiency dominance
submission and self-confidence. These are scored objectively. They are paper
and pencil tests or personality inventors.
b) Projective tests it is a test in which a candidate is asked to project his own
interpretation into certain standard stimulus situation. The way in which
he/she responds to these stimuli depends on his own values, motives and
personality.
c) Situation tests these tests measures an applicants reaction when he is placed
in a peculiar situation his ability to undergo stress and his demonstration of
ingenuinity under pressure. Such tests usually relate to leaderless group
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situations, in which some problem is posed to a group and its members are
asked to reach some conclusion without the help of a leader.
d) Interest tests these tests aim at finding out the types of work in which a
candidate is interested. They are inventories of the likes and dislikes of the
people of some occupation hobbies and recreational activities. They are useful
in vocational guidance and are assessed in the form of answers to a well
prepared questionnaire.
Interviews
Interviews are a crucial part of the recruitment process for most organizations. Their
purpose is to give the selector a chance to assess the candidate and to demonstrate
their abilities and personality. Its also an opportunity for an employer to assess them
and to make sure the organization and position are right for the candidate. An
interview is an attempt to secure maximum amount of information from candidate
concerning his suitability for the job under consideration.
The recruitment process for most organizations follows a common theme:
Applications/CVs are received, either online or by post; and candidates are short-
listed and invited for interview. The interview format can vary considerably and may
include an assessment centre and/or tests. The number of interviews also varies.
Some companies are satisfied after one interview, whereas others will want to recall a
further shortlist of candidates for more. If successful at the final interview stage, an
official job offer is sent to the candidate. Interview format is determined by the nature
of the organization, but there are various standard formats.
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Chronological Interviews -These work chronologically through the candidates life
to date and are usually based on the CV or a completed application form.
Competency-Based Interviews -These are structured to reflect the competencies that
an employer is seeking for a particular job (often detailed in the recruitment
information). This is the most common type of interview for graduate
positions today.
Technical Interviews - If a candidate has applied for a job or course that requires
technical knowledge (e.g. positions in engineering or IT) it is likely, at some
stage in the selection process, that the candidate will be asked technical
questions or have a separate technical interview to test his/her knowledge.
Questions may focus on the final year project and his/her choice of approach
to it or on real/hypothetical technical problems. It seen that the candidate
proves himself/herself but also they admit to what they dont know.
Kinds of Interviews:
1. One to one interview: in this type of interview one selector interviews one
candidate alone.
2. Informal interview: in this type there are discussions between the candidate
and two or more interviewers.
3. Panel of interviews: in these pre planned standard questions ranging overall
aspects of the job are asked. They focus directly on elements of person
specification.
4. Direct planned interview: this interview is straight forward, face to face,
question and answer situation intended to measure the candidates knowledge
and background.
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5. Indirect and direct interview: in this type of interview the interviewer refrains
from asking direct and specific questions but creates an atmosphere in which
the interviewee feels free to talk and go into any subject he considers
important. The object of the interview is to determine what individual himself
considers of immediate concern, what he thinks about these problems, and
how he conceives of his job and his organization.
6. Patterned interview: in this interview a series of questions which illuminates
validated against the record of employees who have succeeded or failed on the
job.
7. Stress interview: in this interview the interviewer deliberately creates stress to
see how an applicant operates in stress situation. To induce stress, the
interviewer responds to the applicants answers with anger, silence and
criticism. This interview aims attesting the candidates job behavior and level
of withstanding during the period of stress and strain.
8. Depth interview: in this type of interview, the candidate would be examined
extensively in core areas of knowledge and skills of the job.
Background Checks and Enquiries
Offers of appointment are subject to references and security checks. The references
given in the candidates application will be taken up and a security check will be
conducted. Security checks can take a while if the candidate has lived abroad for any
period of time.
Final Selection Decision
Those individuals who perform successfully on the employment tests and the
interviews, and are not eliminated by development of negative information on either
the background investigation or physical examination are now considered to be
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eligible to receive an offer of employment. Who makes that employment offer? For
administrative purposes the personnel department should make the offer. But their
role should be only administrative. The actual hiring decision should be made by the
manager in the department that had the position open.
YIELD RATIO
A yield ratio for many recruiting step reflects the number of candidates avail at a step
and the step. For example, a series of newspaper ads may result in thousand
applications for employment of these thousand applicants 100 are judged to meet
some minimum qualifications, thus the yield ratio at this initial stages is 10% of a
group of 100 candidates 50 accepted invitations to be interviewed (yield ratio is 50%
at this stage) of the 50, 10 were given job offers 20% yield ratio.
Assuming the labor market has not changed dramatically from when the yield ratio
was derived and similar methods of the recruiting are to be used (eg. Advertising in
the same papers, employment screening resource.com, using a website or head
hunters). This ratio then can be used as the basis for planning future recruitment
efforts by going backwards from the yield ratio; the recruiter can estimate how many
applicants will be necessary In order to fill a certain number of position. The recruiter
then can adjust the recruiting efforts according with more / less advertising more or
fewer trips to college campuses and so forth.
The use of yield ratio is another area where there is a wide gap between what
academic texts are scholarly research recommends and the extent to which such data
are collected in organization to drive future recruitment planning, while almost every
scholar on the subject recommends a recruitment evaluation process to assist decision
makers in efficient recruitment planning very few companies actually collect these
data as a part of recruitment evaluation.
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OBJECTIVES OFTHE STUDY
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OBJECTIVES OF THE STUDY
To attract people with multidimensional skills and experiences that suit the
present and future organizational strategies.
To induct outsiders with a new perspective to lead the company.
To infuse fresh blood at all levels of the organization.
To develop an organizational culture that attracts competent people to the
company.
To search or head hunt/head pouch people whose skills fit the companys
Values.
To devise methodologies for assessing psychological traits.
To seek out Non Conventional development grounds of talent.
To search for talent globally and not just within the company.
To design entry pay that competes on quality but not on quantum.
To anticipate & find people for positions that do not exist yet.
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SCOPE OF THESTUDY
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SCOPE OF THE STUDY
1. To structure the Recruitment & Selection policy of Reliance Money for different
categories of employees.
2. To analyses the recruitment & Selection policy of the organization.
3. To compare the Recruitment & Selection policy with general policy.
4. To provide a systematic recruitment & Selection process.
5. It extends to the whole Organization. It covers corporate office, sites and works
appointments all over India.
6. It covers workers, Clerical Staff, Officers, Jr. Management, Middle Management
and Senior Management cadres.
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LITERATUREREVIEW
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LITERATURE REVIEW
India is a growing market. While the advanced world is seeing decline in growth,
India, china and other emerging countries will continue to experience boom time for
almost the next 20-30 years. These possess a unique challenge for the corporates who
are interested in quality recruitment. Understanding requirements is the first most
important step towards effective recruitment. Despite knowing it well both
organizations and Recruitment Service Providers (RSPs) do not spend time either in
defining requirements or in understanding them. Organizations must recruit
recruiters carefully, insist on good measures of value add, define and communicate
requirements, build and enlist high performing RSPs to work for them as brand
promoters. Similarly, RSPs must provide services appropriate to the need of the
organization , learn to say no when they cannot, improve their match making abilities
and not merely push CVs.outsourcing recruitment to external RSPs should not be
purely on cost considerations. Cost saving is only an initial excitement. RSPs those
who provide guaranteed service levels will be more effective and would be sort after
as partners for companies finding right-fit will be the key focus. Cost of wrong hires
will be measured while refining the act of recruitment says S. Chandra Sekhar who
works with CAP GEMINI CONSULTING INDIA at Mumbai in his article published
in HRD newsletter.
In one of the studies conducted by the HR consulting firm HEWITT it was found
that 45% of 129 companies surveyed did not see cost saving as their main
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consideration. Top three reasons for recruitment outsourcing in corporate are reported
to be:
Gaining outside expertise
Improving service quality
Focusing on core business.
So the companies must not go for RSPs simply to reduce the cost of recruitment but
they should focus more on improved structure, standardization, efficiency,
technology, compliance and other value adds.
Behind every Attrition there is recruitment! Whenever an employee leaves an
organization without informing and without giving notice or leaves the organization
in the middle of the project it should be known that he or she is joining some other
organization. Many times the employees of the recruitment consultants are hired by
their own clients and are asked to join at a very short notice period. They are been
told that relieving letter is not required and some even offer incentives for early
joining. There must be some guidelines and ethics for recruitment so that there can be
fair recruitment policies. There must be some ethical guidelines such as
a) Notice period must be served and nobody must be hired without relieving
letter or providing proof of serving the notice period.
b) Corporate should not hire anyone who has spent less than one year in his
current organization. The logic is obvious. Employees six months to begin
their contribution and at least one year is required to recover recruitment
process. More importantly if some body is hired who has worked less than a
year with the current organization, that individual will ditch in even shorter
period.
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c) Corporates should not head hunting from competition. They should advertise
and encourage employees seeking change to voluntarily respond to this
advertisement.
d) Corporate should not bail out the prospective employee commitments such as
employment bond etc. the corporate should realize that employee signed the
bond and if he wants to break it, he should do at his own cost and the
corporate should not reimburse or compensate him for violating the
employment contracts says Mr. T. MURALIDHARAN who is the chairman
of TMI NETWORK one of the Indias leading recruitment consultancy.
In one of the study conducted on recruitment and selection process at BIOLOGICAL-
E LTD conducted by Manik Rao in the year 2005. It was found that company has
used internal search for recruiting the employees into more higher or the positions in
different departments who can fit into the job. It was found that the company has
done it by considering it as the most cost effective way of filling the vacancies. It has
also been found that the company opted for external sources such as advertisement
agencies to fill vacancies. Employee referrals were also one of the internal sources of
recruitment.
In another study on recruitment and selection in DW PRACTICE LLC which is a HR
consultancy, it was found that most of the employees felt that the telephonic
interview is not effective and instead direct interviews are more feasible.
These are some of the studies conducted earlier on the recruitment and selections.
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COMPANY PROFILE
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COMPANY PROFILE
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RELIANCE INDUSTRIES LIMITED
Reliance Group Holdings has grown from a small office data-processing
equipment firm in 1961 into a major insurance and financial-services group in one
generation under one chief.
Reliance's insurance operations constitute the nation's 27th-largest property
and casualty operation. The parent company also includes a development subsidiary
in commercial real estate. Reliance's international consulting group contains several
subsidiaries in energy, environment, and natural resources consulting. A financial arm
invests in other businesses, primarily television stations.
Reliance Insurance started as the Fire Association of Philadelphia in 1817,
organized by 5 hose and 11 engine fire companies. It became the nation's first
association of volunteer fire departments.
Business got a boost as a result of the Great Chicago Fire of 1871.The
association soon developed a field of agents to write policies across the country. For
the first two years, shareholders received dividends twice a year of $5 a share, which
increased gradually to $10 in 1876.
In 1972, the Reliance insurance group divided its pool so that Reliance
Insurance Company and its subsidiaries handled most standard lines, while United
Pacific Insurance Company handled the nonstandard and other operations.
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In 1977, the company moved into real estate, forming Continental Cities
Corporation, which became Reliance Development Group, Inc. This division handled
all real estate operations of the parent company and other subsidiaries.
Reliance Capital Group, L.P. constituted the investment branch of the
Reliance conglomerate.
In December 1989, Reliance Capital sold its investment, Days Corporation, parent
company of Days Inn of America, the world's third-largest hotel chain; it had been
purchased in 1984.
Reliance Industries Limited. The Group's principal activity is to produce and
distribute plastic and intermediates, polyester filament yarn, fibre intermediates,
polymer intermediates, crackers, chemicals, textiles, oil and gas. The refining
segment includes production and marketing operations of the Petroleum refinery. The
petrochemicals segment includes production and marketing operations of
petrochemical products namely, High and Low density Polyethylene.
"Growth has no limit at Reliance. I keep revising my vision.
Only when you can dream it, you can do it."
Dhirubhai Ambani founded Reliance as a textile company and led its evolution as a
global leader in the materials and energy value chain businesses.
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He is credited to have brought about the equity cult in India in the late seventies and
is regarded as an icon for enterprise in India. He epitomized the spirit 'dare to dream
and learn to excel'.
The Reliance Group is a living testimony to his indomitable will, single-minded
dedication and an unrelenting commitment to his goals.
RELIANCE MUTUAL FUND
This group dominates this key area in the financial sector..This mega business
houses show that it has assetsunder management ofRs. 90,938 crore(US$ 22.73
billion) and an investor base of over6.6 million
(Source:www.amfiindia.com).Reliances mutual fund schemes are managed by
Reliance Capital Asset Management Limited(RCAM), a subsidiary of
Reliance Capital Limited, which holds 93.37% of the paid-up capital of RCAM.
The company notched up a healthy growth of Rs. 16,354 crore(US$ 4.09
billion)in assets under management in February2008 and helped propel the total
industry-wide AUM to Rs. 565,459 crore (US$ 141.36 billion)(Source:
indiainvestments.com). A sharp rise infixed maturity plans (FMPs) and collection of
Rs. 7000 crore (US$ 1.75 billion) through new fund offers (NFOs) created this surge.
In AU rankings, Reliance continues to be in the number one spot.
India's Best Offering: Reliance Mutual Fund
Investing has become global. Today, a lot of countries are waking up to the
reality that in order to gain financial growth, they must encourage their citizens to not
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only save but also invest. Mutual funds are fast becoming the mode of investment in
the world.
In India, a mutual fund company called the Reliance Mutual Fund is making waves.
Reliance is considered India's best when it comes to mutual funds. Its investors
number to 4.6 billion people. Reliance Capital Asset Management Limited ranks in
the top 3 of India's banking companies and financial sector in terms of net value.
The Anil Dhirubhai Ambani Group owns Reliance; they are the fastest growing
investment company in India so far. To meet the erratic demand of the financial
market, Reliance Mutual Fund designed a distinct portfolio that is sure to please
potential investors. Reliance Capital Asset Management Limited manages RMF.
Vision And Mission
Reliance Mutual Fund is so popular because it is investor focused. They show their
dedication by continually dishing out innovative offerings and unparalleled service
initiatives. It is their goal to become respected globally for helping people achieve
their financial dreams through excellent organization governance and customer care.
Reliance Mutual fund wants a high performance environment that is geared at making
investors happy.
RMF aims to do business lawfully and without stepping on other people. They want
to be able to create portfolios that will ensure the liquidity of the investment of people
in India as well as abroad. Reliance Mutual Fund also wants to make sure that their
shareholders realize reasonable profit, by deploying funds wisely. Taking appropriate
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risks to reach the company's potential is also one of Reliance Mutual Fund's
objectives.
Schemes
To make their packages more attractive, Reliance Mutual Fund created proposals
called The Equity/ Growth scheme, Debt/Income Scheme, and Sector Specific
Scheme.
i. Debt/Income Scheme, and Sector Specific Scheme.
The Equity/ Growth scheme give medium to long term capital increase. The
major part of the investment is on equities and they have fairly high risks. The
scheme gives the investors varying options like, capital augmentation or dividend
preference. The choices are not deadlocked because if you want you may change
the options later on.
Providing steady and regular income is one of the Debt/Income Scheme's
primary goals. The Debt/Income scheme has in its portfolio government
securities, corporate debentures fixed income securities, and bonds. returns on
Sector Specific Scheme are dependent on the performance of the industry at
which your money is invested upon. Compared to diversified funds this is a lot
more risky and you will need to really give your time on observing the market.
Although RMF is gaining good ground in the financial market, remember
that they are a risk taking bunch. They give higher profit because they take a lot
of risks. So, if you are faint hearted, then Reliance Mutual Fund is not for you.
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GROWTH OF RELIANCE MONEY THROUGH RECOGNITION
Growth through Recognition
Reliance has merited a series of awards and recognitions for excellence for businesses
and operations.
Corporate Ranking and Ratings:
Reliance featured in the Fortune Global 500 list of Worlds Largest Corporations
for the fourth consecutive year.
Ranked 269th in 2007 having moved up 73 places from the previous year.
Featured as one of the worlds Top 200 companies in terms of Profits.
Among the top 25 climbers for two years in a row.
Featured among top 50 companies with the biggest increase in Revenues.
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Ranked 26th within the refining industry.
Reliance is ranked 182nd in the FT Global 500 (up from previous years 284th rank).
Petro Fed, an apex hydrocarbon industry association, conferred the Petro Fed
2007 awards in the categories of Refinery of the Year and Exploration &
Production - Company of the Year.
Brand Reliance was conferred the Bronze Award at The Buzziest Brands
Awards 2008, organized by agencyfaqs!
Institute of Economic Studies conferred the Udyog Ratna award in October
2007 for contributions to the industry.
Chemtech Foundation conferred the Hall of Fame in February 2008 for
sterling contributions to the industry.
Chemtech Foundation conferred the Outstanding Achievement - Oil
Refining for work at the Jamnagar Manufacturing Division.
Petroleum Federation of India conferred the Refinery of the Year Award - 2007 to
Jamnagar Manufacturing Division
The Plastics Export Promotion Council - PLEXCOUNCIL Export Award in
the category of Plastic Polymers for the year 2006-2007 was awarded to
Reliance being the largest exporter in this category.
HEALTH:-
Jamnagar Manufacturing Division was conferred the Golden Peacock Award
for Occupational Health & Safety - 2007 by Institute of Directors.
Jamnagar Manufacturing Division was conferred the ICC Award for Water
Resource Management in Chemical Industry.
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Jamnagar Manufacturing Division was conferred the Good House Keeping
Award from Baroda Productivity Council.
Jamnagar Manufacturing Division was conferred the BEL-IND Award for
the best scientific paper at the 58th National Conference of Occupational
Health.
Naroda Manufacturing Division was conferred the Safety Award and
Certificate of Appreciation presented by Gujarat Safety Council &
Directorate of Industrial Safety & Health, Gujarat State for the recognition of
safety performance at the 29th State Level Annual Safety Conference.
Dahej Manufacturing Division received BSC 5-Star rating from British
Safety Council, UK.
Dhenkanal Manufacturing Division received the 2nd Prize for Longest
Accident Free Period from the Honble Minister of Labour, State of Orissa.
Hoshiarpur Manufacturing Division bagged the First Prize in Safety in
Punjab, organized by Punjab Safety Council.
Patalganga Manufacturing Division won the Gold Medal at CASHe (Change
Agents for Safety, Health and Environment) Conference. It also won the III
Prize in Process Management category for Presentation on Safety through
Design in chemical process industry in Petrosafe 2007 Conference.
Kurkumbh Manufacturing Division won the Greentech Safety Award silver
trophy for outstanding achievement in safety management in chemical sector.
Hazira Manufacturing Division received the TERI Corporate Environmental
Award (Certificate of Appreciation) for PET recycling project.
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Nagothane Manufacturing Division received the Shrishti G-Cube Award for
Good Green Governance from Minister for Commerce and Industry, on World
Earth Day.
Training and Development:-
Jamnagar Refinery was adjudged the winner of the Golden Peacock National
Training Award -2007.
Patalganga Manufacturing Division won the ASTD (American Society for
Training & Development) Excellence in Practice Award for innovative
practice titled Learning Functions role as Business partner: Empowering
people with Knowledge to achieve Business Goals.
Reliance won the CNBC TV-18 instituted Jobstreet.com Jobseekers Employer of
Choice Award.
Energy Excellence:-
Exploration & Production (E&P) Division won The Infraline Energy
Excellence Awards 2007: Hydrocarbon Columbus Award for Excellence in
Petroleum Exploration.
Patalganga Manufacturing Division won the First Prize in Energy
Conservation in State of Maharashtra organized by Maharashtra Energy
Development Agency (MEDA).
Jamnagar Manufacturing Division won the Oil & Gas Conservation Award
-2007 from the Centre for High Technology, Ministry of Power & Natural
Gas for the excellent performance in reduction/elimination of steam leaks in
the plant.
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Jamnagar Manufacturing Division was the recipient of the Infraline Energy
Award-2007 by Ministry of Power.
Hazira Manufacturing Division won the Government of India Energy
Conservation Award (2007) conferred by the Bureau of energy efficiency and
Ministry of Power.
Hazira Manufacturing Division was adjudged Excellent Energy Efficient
Unit at Energy Summit - 2007 by CII.
Vadodara Manufacturing Division received the CII award for Excellence in
Energy Management - 2007 as energy efficient unit. This division also received
the 2nd prize in National Energy Conservation Award 2007 from Bureau of
Energy efficiency, Ministry of Power, Government of India.
The Companys manufacturing divisions at Vadodara and Hazira were honoured
with CII-National award for excellence in water management - 2007 as water
efficient unit in Within the fence category. Additionally, Hazira Manufacturing
Division was honoured as water efficient unit Beyond the Fence category.
Quality:-
For the first time ever, globally, a petrochemical company bagged the
Deming Prize for Management Quality. The Quality Control Award for
Operations Business Unit 2007 was awarded to the Hazira Manufacturing
Division for Outstanding Performance by Practicing Total Quality
Management.
QUALTECH PRIZE 2007, which recognizes extraordinary results in
improvement and innovation, was won by Hazira Manufacturing Division for
its Small Group Activity Project.
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Vadodara Manufacturing Divisions Polypropylene-IV (PP-IV) plant was
conferred the Spheripol Process Operability Award-2006 for the highest
operability rate with an on stream factor 98.97% by M/s. BASELL, Italy.
Allahabad Manufacturing Division won the Excellent Category Award at
National Convention of Quality Circle (NCQC) - 07.
Six-Sigma:-
Lean Six sigma project on Reducing retention time of caustic soda lye
tankers at Jamnagar won the 1st prize in the national level competition held
by Indian Statistical Institute (ISI).
Patalganga Manufacturing Divisions Six Sigma Project on Improve Transfer
Efficiency for Automatic winders in PFY won the 2nd Prize for Best design
for Six Sigma Project in International Six Sigma Competition organized by
IQPC (International Quality and Productivity center).
Barabanki Manufacturing Division won the 3rd prize in All India Six Sigma
case study contest 2008 for the Case study on Reduction of waste of Plant 2
from 16% to 8%.
Hoshiarpur Manufacturing Division won the 2nd prize in Six Sigma
competition at National Level organized by ISI and Quality Council of India
(in manufacturing category), while Dhenkanal and Barabanki Manufacturing
Divisions won the 3rd prize.
Vadodara Manufacturing Divisions Six Sigma project won the 1st prize as the
Best Six Sigma project at National level by CII.
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Technology, R&D and Innovation:-
Vadodra Manufacturing Divisions R&D bagged an award from Indian
Institute of Chemical Engineers for Excellence in Process / Product
Development for the work on Eco friendly Process for Acetonitrile
Recovery.
DSIR National Award for R&D Efforts in Industry (2007) was conferred on
Hazira Manufacturing Division for the Cyclehexane Recovery Project.
Patalganga Manufacturing Divisions Project titled Augmentation of ETP and
use of biogas in Fired heaters won the Best Innovative Project from CII.
Reliance bagged the Innovation Award at Tech Converge 2007 for
innovative developments in short-cut fibres.
Hazira Manufacturing Division won the Golden Peacock Innovation Award -
2007 for its Cyclohexane Recovery Process.
Information Technology:-
CIO of the Year Award for the best IT-enabled organization in India for the
Year 2007.
Ones to Watch - CIO - USA Award, for figuring among the top 20
organizations fostering excellence in IT team.
The Skoch Challenger Award conferred for the best IT Head (managing the
most IT enabled organization) of the Year 2007.
Best IT Implementation Award, by PC Quest for Knowledge Management
Systems portal (KMS).
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CIO Excellence Award for Chemical Industry Information Technology
Forum for exemplary Information Technology implementation amongst
global chemical companies.
CTO Forum Hall of Fame Award for the best CIOs in India for not only
providing service to their
PRODUCT PROFILE
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PRODUCT PROFILE
RELIANCE MONEY
CATEGORIES OF MUTUAL FUND:
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Equity/Growth Schemes
The aim of growth funds is to provide capital appreciation over the medium to
long- term. Such schemes normally invest a major part of their corpus in equities.
Such funds have comparatively high risks. These schemes provide different options
to the investors like dividend option, capital appreciation, etc. and the investors may
choose an option depending on their preferences. The investors must indicate the
option in the application form. The mutual funds also allow the investors to change
the options at a later date. Growth schemes are good for investors having a long-term
outlook seeking appreciation over a period of time.
Equity funds: These funds invest in equities and equity related
instruments. With fluctuating share prices, such funds show volatile
performance, even losses. However, short term fluctuations in the
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market, generally smoothens out in the long term, thereby offering
higher returns at relatively lower volatility. At the same time, such
funds can yield great capital appreciation as, historically, equities
have outperformed all asset classes in the long term. Hence,
investment in equity funds should be considered for a period of at
least 3-5 years. It can be further classified as:
i) Index funds- In this case a key stock market index, like BSE Sensex or Nifty is
tracked. Their portfolio mirrors the benchmark index both in terms of composition
and individual stock weightages.
ii) Equity diversified funds- 100% of the capital is invested in equities spreading
across different sectors and stocks.
iii|) Dividend yield funds- it is similar to the equity diversified funds except that
they invest in companies offering high dividend yields.
iv) Thematic funds- Invest 100% of the assets in sectors which are related through
some theme.e.g. -An infrastructure fund invests in power, construction, cements
sectors etc.
v) Sector funds- Invest 100% of the capital in a specific sector. e.g. - A banking
sector fund will invest in banking stocks.
vi) ELSS- Equity Linked Saving Scheme provides tax benefit to the investors.
Balanced fund: Their investment portfolio includes both debt and equity. As a
result, on the risk-return ladder, they fall between equity and debt funds. Balanced
funds are the ideal mutual funds vehicle for investors who prefer spreading their risk
across various instruments. Following are balanced funds classes:
i) Debt-oriented funds -Investment below 65% in equities.
ii) Equity-oriented funds -Invest at least 65% in equities, remaining in debt.
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Debt fund: They invest only in debt instruments, and are a good option for investors
averse to idea of taking risk associated with equities. Therefore, they invest
exclusively in fixed-income instruments like bonds, debentures, Government of India
securities; and money market instruments such as certificates of deposit (CD),
commercial paper (CP) and call money. Put your money into any of these debt funds
depending on your investment horizon and needs.
i) Liquid funds- These funds invest 100% in money market instruments, a large
portion being invested in call money market.
ii) Gilt funds ST- They invest 100% of their portfolio in government securities of
and T-bills.
iii) Floating rate funds - Invest in short-term debt papers. Floaters invest in debt
instruments which have variable coupon rate.
iv) Arbitrage fund- They generate income through arbitrage opportunities due to
mis-pricing between cash market and derivatives market. Funds are allocated to
equities, derivatives and money markets. Higher proportion (around 75%) is put in
money markets, in the absence of arbitrage opportunities.
v) Gilt funds LT- They invest 100% of their portfolio in long-term government
securities.
vi) Income funds LT- Typically, such funds invest a major portion of the portfolio
in long-term debt papers.
vii) MIPs- Monthly Income Plans have an exposure of 70%-90% to debt and an
exposure of 10%-30% to equities.
viii) FMPs- fixed monthly plans invest in debt papers whose maturity is in line with
that of the fund.
Return Safety Volatility Liquidity Convenience
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Equity High Low High High Moderate
Bonds Moderate High Moderate Moderate High
Co.
Debentures
Moderate Moderate Moderate Low Low
Co. FDs Moderate Low Low Low Moderate
Bank
Deposits
Low High Low High High
PPF Moderate High Low Moderate High
Life
Insurance
Low High Low Low Moderate
Gold Moderate High Moderate Moderate Gold
Real Estate High Moderate High Low Low
Mutual
Funds
High High Moderate High High
Debt/Income Schemes
The aim of income funds is to provide regular and steady income to investors. Such
schemes generally invest in fixed income securities such as bonds, corporate
debentures, Government securities and money market instruments. Such funds are
less risky compared to equity schemes. These funds are not affected because of
fluctuations in equity markets. However, opportunities of capital appreciation are also
limited in such funds. The NAVs of such funds are affected because of change in
interest rates in the country. If the interest rates fall, NAVs of such funds are likely to
increase in the short run and vice versa. However, long term investors may not bother
about these fluctuations.
1. Systematic Investment Plan: under this a fixed sum is invested each month on a
fixed date of a month. Payment is made through post dated cheques or direct debit
facilities. The investor gets fewer units when the NAV is high and more units when
the NAV is low. This is called as the benefit of Rupee Cost Averaging (RCA)
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2. Systematic Transfer Plan: under this an investor invest in debt oriented fund and
give instructions to transfer a fixed sum, at a fixed interval, to an equity scheme of the
same mutual fund.
3. Systematic Withdrawal Plan: if someone wishes to withdraw from a mutual fund
then he can withdraw a fixed amount each month.
Sector Specific Schemes
These are the funds/schemes which invest in the securities of only those sectors or
industries as specified in the offer documents. e.g. Pharmaceuticals, Software, Fast
Moving Consumer Goods (FMCG), Petroleum stocks, etc. The returns in these funds
are dependent on the performance of the respective sectors/industries. While these
funds may give higher returns, they are more risky compared to diversified funds.
Investors need to keep a watch on the performance of those sectors/industries and
must exit at an appropriate time. They may also seek advice of an expert.
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RECRUITMENT & SELECTION PROCESS OFRELIANCE MONEY
Following includes in the procedure
RECRUITMENT&
SELECTION
PROCESS
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JOB ANALYSIS FORM
Job Title
. Date Location ..
Department Analyst.
Code No
Job Analysis Form
Job Specification Form
Interview Schedule
Application Form forEmployment
Interview Assessments Form
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Reason for the job Supervised..
Wage or salary range
Relation to other jobs: Promotion from..Promotion to..
Job summary:Work performed:
Major duties :.
Other tasks :
Equipment/Machines used:.
Working Condition
Skill Requirements:
Education: (Grade or Year)
Training :
Job experience : (a)Type of experience..
(b) Length of experienceSupervision : (a) Positions supervised.
(b) Extent of supervision..
Job knowledge : (a) General
(b) Technical
(c) Special
Responsibility : (a) For product and material .
(b) For equipment and machinery
(c) For work of others.
(d) For safety of others
Physical Demands : Physical efforts
Surroundings
Hazards
Resource fulness
JOB SPECIFICATIONS FORM
Job Title : Drill Operator Department
Job Code Date..
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REQUIREMENTS
1. EDUCATION : Ability to read and understand production orders and to
make simple calculations. Preferably High School Certificate.
2. TRAINING AND EXPERIENCE: No special training required . Requires
one month experience to learn job duties and to attain acceptable degree
of proficiency.
3. PHYCIAL EFFORT: No special physical effort is required.
4. MENTAL SKILL: Requires reasoning to interpret instructions and
drawings and productions orders. Must be able to concentrate when
operating.
5. SUPERVISION : Routine checking and no close supervision required.
Specific but no detailed instructions.
6. Responsible for own work only. Only routine responsibility for safety of
others.
The Reliance Money has the following way which it follows for
recruiting the person
A.PURPOSE
The purpose of the company is to define the procedure of Recruitment &
Selection in the company.
B.SCOPE
The scope of the company is to find the individuals seeking employment in
the company.
C.RESPONSIBILITY
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The Responsibility is on the Manager-HRD/Operations Director-EAI
Systems/Operation Director-TPB-India.
D.AUTHORITY
The Authority in the company is commenstrate with responsibility
E.PROCEDURE STEPS
1.MAN POWER RECRUITMENT
As and when the need arises , the Manpower Requirement Form is dually
filled by the HOD/Group Manager of the concerned department and
forwarded to the HRD Department.
The HRD Department initiates activity on the recruitment once the
"Manpower Requirement" form is approved by MD.
All "Manpower Requirement "Forms are maintained by the HRD Department.
2.IDENTIFYING SOURCES OF RECRUITMENT
On the basis of Manpower Requirement Form a recruitment source is
identified. The source of recruitment could be external or internal.
INTERNAL SOURCE OF RECRUITMENT
Internal Transfer/Promotion with necessary screening, training and selection
to meet the specified requirement. It would be desirable to utilize the internal
sources before going outside to attract the candidates. The two categories of
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internal sources including a review of the present employees and nomination
of the candidates by employees.
The COMPANY suggests that the effective utilization of internal sources
necessitates an understanding of their skills and information regarding
relationships of jobs. This will provide possibilities for horizontal and vertical
transfers within the enterprise eliminating simultaneous attempts to lay off
employees in one department and recruitment of employees with similar
qualification for another department in the company. Promotions and Transfers
within the plant where an employee is best suitable improves the morale along
with solving recruitment problems.
These measures can be taken effectively if we established job families through
job analysis programmes combining together similar jobs demanding similar
employee characteristics. Again, employee can be requested to suggest
promising candidates. Sometimes in a company the employees are given prizes
for recommending a candidate who has been recruited. The usefulness of this
system in the form of loyalty and its wide practice, it has been pointed that it
gives rise to cliques posing difficulty to management.
Therefore, in this company before utilizing the system attempts should be
made to determine through research whether or not employees thus recruited
are effective on particular jobs. Usually, internal sources can be used
effectively if the number of vacancies are not very large, adequate, employee
records are maintained, jobs do not demand originality lacking in the internal
sources, and employees have prepared themselves for promotion.
EXTERNA L SOURCE S OF RECRUITMENT
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An external source of Recruitment is considered from the combination of the
following options:
CONSULTANT
Consultant are given the requirement specifying qualifications, experience and
all other necessary details. In consultant we considers the employment agencies,
educational and technical institute, casual, labor and mail applicants, trade
unions and other sources. Our company have developed markedly in large
cities in the form of consultancy services.
Usually this company facilitate recruitment of technical and professional
personnel. Because of their specialization, they effectively assess the needs of
their clients and aptitude and skills of the specialized personnel. They do not
merely bring an employer and an employee together but computerize lists of
available talents, utilizing testing to classify and used advance techniques of
vocational guidance for effective placement purposes.
Educational and technical institutes also forms an effective source of manpower
supply. There is an increasing emphasis on recruiting students from different
management institutes and universities' commerce and management departments
by recruiters for positions in sales, accounting, finance, personnel and
production. These students are recruited as management trainees and then
placed in special company training programmes. They are not recruited for
particular positions but for development as future supervisors and executive.
Indeed , this source provides a constant flow of new personnel with leadership
personalities. Vocational schools and industrial training institutes provides
specialized employees, apprentices, and trainees for semiskilled and skilled
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All related documents of Advertisements released are maintained in the
"Advertisement" file.
In addition to the above sources, several organizations develop sources through
voluntary organizations such as clubs, attracts employees of competitors looking
for a change or good prospectus for employment, utilize women, older workers
and physically handicapped for specific positions where they are best suitable,
and use the "situation wanted" advertisement in newspapers.
3. SELECTION
A .SCREENING/SHORTLISING
Resumes received from consultants and/or from the advertisements released in
Newspaper/Magzine are screened by HRD Department in consultation with the
concerned department.
B.INTERVIEW CALL
The shortlisted candidates are contacted for interview through an interview call
letter/telephone call/e-mai l or through the consultants.
C.INTERVIEW SCHEDULE
Interview schedule is prepared and sent to the concerned Department's HOD,
Interview panel and a copy is kept for HRD Department records. The
Interview Schedule include the following requirement.
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INTERVIEW SCHEDULE
Authorized Signatory
Preliminary interview of the candidates is conducted by HRD based on
Personal Data Format given Reliance Moneyow filled up by the candidate
with the help of technical person along with the Dept.
Date:
Venue:
Position:
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NAME OF THE CANDIDATE TIME REMARKS
INTERVIEW CALL LETTER
Date ----------------
Dear Sir,
___________________________________________________
This has reference to your application for the above mentioned position in
our organisation.
We are pleased to invite you for a meeting with the undersigned
on.ata.m./p.m. please confirm this appointment.
We have enclosed a blank personal Data Form. Please fill this in and
bring with you along with your educational and experience certificates /
testimonials in original for the meeting.
No TA/DA shall be admissible for attending this interview.
You will be reimbursed to and for train fare by 1 st / 2nd class for attending this
interview.
We take this opportunity to thank for the interest you have shown in
joining our organisation.
Yours sincerely,
For RELIANCE MONEY
D.PERSONAL DATA FORM
Any candidate appearing for an interview in the company is required to fill inhis/her particulars in the prescribed "Personal Data Form"
APPLICATION FORM FOR EMPLOYMENT
CONFIDENTIAL
Refrence(including advt. ref. if any)
PositionApplied for
Time forJoining
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PERSONAL DETAILS:
Name: ( in Block letters as registered in school certificate)
(First Name) (Middle Name) (Last Name)
Present Address:
Permanent Address
Tel. Res. Mob.
Tel. Off. E-mail (Personal)
Date of Birth Age Place of Birth State
Martial Status: Married/ Single Children: Male of age
Female of age
EDUCATION: Details of all examination passed from matriculation or
equivalent onwards
Exam/Degree/Diploma/Certificate
School/College/University
YearofPassing
Branch ofStudyElectives/SpecializationSubjects
Class/Grade/Division& % ofmarks
Regular/PartTime/Correspondence
State reasons for gaps in studies, if any:Academic Achievements:
PROJECT WORK/PUBLICATION/THESIS
Organization Details From To
BRIEF DETAILS OF ANY PRESENTATION/ PUBLICATION/ THESIS, IF
ANY
WORK EXPERIENCE:
Present/ Last Job
Organization Period of Employment
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Address From: To:
Nature of Business
Telephone Current Position/Position held
Sales Turnover of the organization No. of employees in the orgn.
Sales Turnover of your unit No. of employees in your unit
No. of employees in the Dept. you work No. of Executive No.of-Non- Executive
No. of Direct report: No. of Executives No. of Non-Executive
List your 3 core competencies List 3 Key Achievements in your career1. 1.2. 2.3. 3.
Please draw a brief organization chart of your dept./ Division and outline yourresponsibilities (Attach sheets giving details if required)
Organisation Chart: Current Responsibilities
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Previous Employment Details: (Start from recent employment)
Name of
the
organizati
on
Period
From To
Position
Joined
Position
Last
Held
Brief description
of responsibilities
Last drawn
Gross salary
Per month
Present Remuneration Drawn:
A. Monthly:
Basic DA HRA/Lease Conveyance Any other (mentiondetails)
Totalp.m.
Totalp.a.
B. Annual:
LTA Variable pay/Bonus Medical Any other Total p.a.
C. Other Terminal Benefit p.a.
Pf Superannuation Gratuity Totalp.a.
D. Gross p.a.
(Total of A, B & C)
E. Other perk not included in Gross
Due date of next increment: Any other information relating to the above
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GENERAL
Language Known
Language Read Write Speak
1. Have you any relative working in RELIANCE MONEY?Yes/No
If yes please give details : Name Relationship
Designation Unit / Department
2. Have you earlier applied for any position in any of our factories/Offices? Yes/No
3. Is your spouse e employed? Yes/No
4. Have you any locational constraints? Yes/No
If yes, please give details/ reasons
5. Can you undertake frequent t travels: Yes/No
6. Extra Curricular Activities:
7. Interests/Hobbies:
8. References: Please give names, addresses & Telephone Nos., of twoPersons other than relatives to whom we may refer about you.
1. 2.
Any other information you would like to add:
Declaration
I declare that the information given by me in this application is true and complete
to the best of any knowledge and Reliance Moneyief. I am not aware of anycircumstances which might affect my fitness for employment. If any time, later, itis found that I have not disclosed any material information or have given incorrector false information, the company will be liberty to terminate my appointmentwithout any notice or compensation.
Date: Place: Signature of Applicant
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We thank you for information and assure you that this will be kept in strictConfidence.
E.CONDUCTING INTERVIEWS
Interviews are conducted by an panel, which includes a staff member from the
concerned department and may include an had representative.
F.INTERVIEW ASSESSMENT
Interview assessment Format is filled up by the interview panel immediately afterthe interview and all the relevant papers are forwarded to the HRD Department atthe earliest. The Interview Assessment include the following form which considersthe following information:
INTRVIEW ASSESSMENT FORM
Interviewees Name Date 2006Post Applied For Venue
1. 2. 3.ASSESSMENT FACTORS RATING REMARKS
Appearance
Technical Knowledge
General Knowledge
Experience
Communications Skills
Innovative Thinking& Logic
Growth Potential
Decision Making
Leadership Skills
MaturityInterest/Cultural background
A=Very Good B=Good C=Average D=RelianceMoneyow Average
Overall strong points
Overall weak points
Written Test/Remarks
Reason for leavingRemuneration Expected
Suitable for any otherDeptt./job
Comments, if any
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G.SALARY FIXATION
"Staff comparison statement" and " salary proposal" formats are used for this
purpose.
H.OFFER AND APPOINTMENT LETTER
A candidate selected for appointment is issued an offer letter mentioning theexpected date of joining.
Extension of time to join duties is granted to the candidate purely at
Management discretion.
A Detailed Appointment letter is issued after the individuals joins and fills the
joining report.
The offer and appointment letters are signed to all new joiners.
4.JOINING FORMALITIES
All the new joinees are required to fill-up the relevant papers such asNominations under Insurance and Gratuity schemes, PF Declaration Forms etc. andall these records are maintained in their personal files.Induction Training is organized for the new joinees. Induction is organizedinternally by HRD Department depending on the number of joinees in a month.Training needs o f the new joinees are identified as per the procedure.
On the joining detailed appointment letters are issued as per Reliance Moneyowmentioned levels:-
Selected Not- Kee Pendin Call for final
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1) APPOINTMENT LETTER Language for Reliance Moneyow Asst.
Manager level is given in the following format
RELIANCE MONEYOW ASSTT &MANAGER LEVEL
___________________ Dated :______________________________________
___________________
LETTER OF APPOINTMENT
Dear Mr. __________________________
With reference to the offer letter no.______________________dated __________ we are
pleased to appoint you as ____________________ on the following terms andconditions:
Ordinarily your period of probation will be Six months which could be further extended
for a period not exceeding three months and during probationary period/extended
probationary period your services are liable to be terminated without any notice or
without assigning any reason or compensation in lieu thereof.
EMOLUMENTS:
A) you will be paid following emoluments:
Basic Salary : Rs. __________ p.m.
House Rent Allowance : Rs. __________ p.m.
Local Travelling Expenses : Rs. __________ p.m.
You shall also be entitled to benefits like Bonus,Gratuity, PF, ESI & L.T.C as perrules of the company.
B) Further increment will be based on efficient, satisfactory and loyal discharge ofduties and may be withheld in case the standard of work and conduct is foundsubnormal of may be accelerated in case the same is adjudged to be commercial atthe discretion of the management.
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Your place of posting will be at our _________________situated at _______________-_____. However, you are liable to be transferred to any of our sites/factory/officeat the discretion of the management.
1. During the period of your employment, you shall not secure or try to secure any other
post and undertake any course of study or work on part time basis without thepronouncement or the Management in writing. You will also not hold any office ofprofit outside the company or engage yourself in any other trade or business eitherpart time, or full time, whether for profit or gain, or on honorary basis or otherwise,engage in an insurance agency or commission agency etc. without the prior writtenpermission of the management.
2. Your hours of attendance shall be regulated to suit the duties entrusted to you fromtime to time, subject to the statutory provisions.
3. You shall be governed by the rules and regulations of the company in force from timeto time, that may be applicable to you.
4. In the event of your confirmation in writing, in addition to the terms and conditionsmentioned in this letter, except para (1):
a) You will be liable to be retired on your reaching the age of 58 years or earlier iffound medically unfit. The organization shall have the right to have you medicallyexamined as and when considered necessary by a registered medical practitioneror by the Companys medical officer.
b) The employment will be liable to be terminated on either by giving one monthsbasic salary in lieu thereof. However, no notice would be necessary to be given bythe organisation if in their opinion you are found guilty of any gross misconductas generally understood in employment, particularly disobedience,insubordination, insolence and acts subversive of discipline, habitual negligenceof duties, distrust, dishonesty or embezzlement, illegal strike, habitual lateattendance, absence, go-slow etc.
5. In case any misconduct is alleged against you, you are liable to be suspendedforthwith without any salary or allowance, pending such inquiry, if in an inquiry youare exonerated of the charges, you will be entitled to full salary as if you were onduty. In the event you are found guilty of the charges levelled, irrespective of thepunishment imposed, you shall not be entitled to any payment for the period ofsuspension.
6. The above mentioned terms and conditions of services shall prevail so long as thesame are not either modified or they will also be subject to such other and furtherrules and regulations which may be notified by us by putting a notice in writing onthe notice board put inside the premises.
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7. Your date of joining the services in the organization is_________________________________
8. This letter is being offered to you in duplicate. In case the terms and conditions
expressly enumerated above are acceptable to you, please sign the duplicate copy ofthis letter in token of your having read, understood and accepted the terms andconditions mentioned above.
9. Please note that the court of jurisdiction shall be at New Delhi.
We welcome you to our organization and wish you a successful career with us.
Yours sincerely,For RELIANCE MONEY
AUTHORISED SIGNATORY
ACCEPTANCE
I have clearly understood the terms and conditions mentioned in this letter ofappointment and I hereby accept the same.
NAME SIGNATURE DATE
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2) Appointment letter language for asst. Manager to manager is given in
the following format.
FOR ASSISTANT MANAGER TO MANAGER
Dear Mr.Date..
APPOINTMENT LETTER
With reference to the offer letter no._________________dated________________, we are pleased to appoint you in our organisation onthe following terms and conditions:-
1) Designation : Your position in the company will be
2) Date of Joining: Your date of joining the services in the organisationis
3) Probation Period: Ordinarily your period of probation will be Sixmonths from the date of joining. Management may extends the probationperiod depending upon your performance. On successful completion ofprobation, you will be issued a confirmation letter.
During the probation period, your services are liable to be terminated
without assigning any specific reason, whatsoever without giving anynotice. After confirmation the notice period will be one month or onemonths basic salary on either side.
4) Salary Details:
Your Basic Salary will be Rs. ./- p.m.(Rupees only)In addition you will be entitled to House Rent Allowance of Rs./- p.m.(Rupees only)
You will entitled to reimbursement of Local Travelling Expenses upto amaximum limit of Rs. /- p.m. (Rupees. only)You shall also be entitled to benefits like ESI/Medical Reimbursement,LTC, Bonus Exgratia, Gratuity & PF as per rules of the company.
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5)Place of PostingHowever, you would be liable to be transferred/posted at any of theexisting or proposed locations of the company or its sister/associatescompanies at the sole discretion of the management.
6) The company normally does not permit employees to engage in any otherbusiness or work, either directly on their own account or indirectly andyou will be expected not to do so without prior consent of the managementin writing.
7) You will be governed by the rules and regulations of the company asapplicable in force, amended or altered from time to time during thecourse of your employment.
8) You will automatically retire from the services of the Company onattaining the age of 58 years. You may be retired earlier if found medically
unfit.
Please sign the duplicate copy of this letter signifying your acceptance and returnit to us.
We welcome you to our organisation and wish you a successful career with us.
With best wishes,
Yours sincerely,For RELIANCE MONEY
AUTHORISED SIGNATORY
I agree to accept employment on the terms and conditions mentioned above andagree to abide by all the rules and regulations of the company.
NAME SIGNATURE
DATE
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3) Appointment letter language for sr. manager and above is given in
the following format.
FOR SR. MANAGER AND ABOVE
Dear Mr. . Date
APPOINTMENT LETTER
With reference to the offer letter no.____________________ dated ______________,we are pleased to appoint you in our organisation on the following terms and conditions:-
1) Designation : Your position in the company will be
2) Date of Joining: Your date of joining the services in the organisationis ..
3) Salary Details :Your Basic Salary will be Rs. /- p.m.(Rupees only)In addition you will be entitled to House Rent Allowance of Rs../-p.m.(Rupees only)You will entitled to reimbursement of Local Travelling Expenses upto amaximum limit of Rs. ../- p.m. (Rupees
.. only)
You shall also be entitled to benefits like Exgratia, Gratuity, PF etc. as per rules ofthe company.
You will be entitled to reimbursement of Medical Expenses for yourself andfamily, the total cost of which shall be a maximum of one month's basic salary ina year.
You will be entitled to reimbursement of LTC equivalent to one months basicsalary per completed year of service. Your first entitlement for LTC will be on
completion of 12 months service with the Company.
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4) Place of Posting: . However, you would be liable to betransferred/posted at any of the existing or proposed locations of the company orits sister/associate companies at the sole discretion of the management.
Your services are liable to be terminated without assigning any specific reason,whatsoever by giving you one months basic salary or one months notice. Likewise youwould be free to leave the services of thew company by giving one months notice orbasic salary to the company.
The company normally does not permit employees to engage in any other business orwork, either directly on their own account or indirectly and you will be expected not todo so without prior consent of the company in writing.
You will be governed by the rules and regulations of the company as applicable in force,amended or altered from time to time during the course of your employment.
You will automatically retire from the services of the Company on attaining the age of 58years. You may be retired earlier if found medically unfit.
Please sign the duplicate copy of this letter signifying your acceptance and return it to us.
We welcome you to our organisation and wish you a successful career with us.
With best wishes.
Yours sincerely,For RELIANCE MONEY
AUTHORISED SIGNATORY
I agree to accept employment on the terms and conditions mentioned above and agree toabide by all the rules and regulations of the company.
NAME SIGNATURE DATE
Joining report to be filled by the new join in format given Reliance Moneyow andexperience certificate, Date of Birth Certificate, Relieving letter, Salary Certificate andEducational Certificate etc. to be submitted to personnel Department.
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Reliance Money
DATE:HRD DEPARTMENTMumbaiJOINING REPORT
This is to inform you that I have joined the organisation as
On in
Department. My present address is
Telephone No.
And my Date of Birth is . Any change in my address will be
intimated to you.
NAME :
SIGNATURE:
DATE:
VI) DOCUMENTATION
1. Individual personal files are maintained.2. Computerised Personal details are maintained.
3. After separation also the personal files are maintained of ex-employees.4. Position wise Data Banks are maintained for future reference.5. The following formats shall be generated as a result of implementation on this
procedure.
5.DEPARTMENT INTERFACE
HRD Department sends a Status Report updating on the recruitment process to theDepartment which has raised the manpower requirement.
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6.STATISTICAL ANNALYSIS
An Annalysis of the manpower requirements is prepared periodically based on thefollowing factor:
Source of recruitment
Resumes received and short-listed
Interviews conducted
Candidates selected
Candidates joined
F.FORMATSThe Formats of the company includes the following:
MANPOWER REQUIREMENT PERSONAL DATA FORM
INTERVIEW ASSESSMENT FORM
JOINING REPORT
STAFF COMPARISION SHEET
SALARY PROPOSAL SHEET
These Formats, when filled up, are available in the individual personal files along withother personal details of the individual, which are confedential in nature.
G.RECORDSThe company includes the following records
Manpower Requirement Forms
Correspondence for release advertisements
Correspondence with consultant
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RESEARCHMETHODOLOGY
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RESEARCH METHODOLOGY
OBJECTIVE OF THE STUDY
In Reliance Money the recrui