INTRODUCTION

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.

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 2 Process or series of activities rather than a single act or event. 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.

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:

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.

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

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.

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,

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.

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

10

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 documentation. forms b)Curricula Vitae (CVs) and c)All other relevant

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

11

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.

12

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.

13

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

14

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 shortlisted 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.

15

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.

16

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

17

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.

18

OBJECTIVES OF THE STUDY

19

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.

20

SCOPE OF THE STUDY

21

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.

22

LITERATURE REVIEW

23

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

24

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.

25

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 BIOLOGICALE 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.

26

COMPANY PROFILE

27

COMPANY PROFILE

28

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.

29

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.

30

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

31

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

32

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.

33

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.

34

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.

35

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.

36

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.

37

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.

38

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.

39

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).

40

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

41

PRODUCT PROFILE RELIANCE MONEY

CATEGORIES OF MUTUAL FUND:

42

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

43

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.

44

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 Convenienc e

45

Equity Bonds Co. Debentures Co. FDs Bank Deposits PPF Life Insurance Gold Real Estate Mutual Funds

High Moderate Moderate Moderate Low Moderate Low Moderate High High

Low High Moderate Low High High High High Moderate High

High Moderate Moderate Low Low Low Low Moderate High Moderate

High Moderate Low Low High Moderate Low Moderate Low High

Moderate High Low Moderate High High Moderate Gold Low 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)

46

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.

47

RECRUITMENT & SELECTION PROCESS

RECRUITMENT & SELECTION PROCESS OF RELIANCE MONEY

Following includes in the procedure

48

Job Analysis Form

Job Specification Form

Interview Schedule

Application Form for Employment Interview Assessments Form

JOB ANALYSIS FORM

Job Title . Date Location .. Department Analyst. Code No

49

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 experience Supervision : (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 Job Code Department Date..

50

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

51

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

52

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

53

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

54

jobs. Persons trained in these schools and institutes can be placed on operative and similar jobs with a minimum of in plant training. However, recruitment of these candidates must be based on realistic and differential standards established through research reducing turnover and enhancing productivity. The enterprise depends to some extent upon casual labour or "applicant at the gate" and mail applicants. The candidates may appear personally at the company's employment office or send their applications for possible vacancies. According to company the quality and quantity of such candidates depend on the image of the company in community. Prompt response to these applicants proves very useful for the company. The company find that this source is uncertain, and applicants reveal a wide range of abilities necessitating a careful screening. Despite these limitations, it forms a highly inexpensive source as the candidates themselves come to the gate of the company. It also provides measures for a good public relations and accordingly , the candidates visiting the company must be received cordially. Trade unions are playing an increasingly important role in labour supply. In several trades, they supply skilled labour in sufficient numbers. They also determine the order in which employees are to be recruited in the organization. In industries where they do not take active part in recruitment, they make it a point the employees laid off are given preference in recruitment.

ADVERTISEMENT
All recruitment advertisements are placed centrally by the HRD Department. The advertisement is drafted by HRD Department in consultation with the concerned Department.

55

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.

56

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:

57

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 in his/her particulars in the prescribed "Personal Data Form"

APPLICATION FORM FOR EMPLOYMENT

CONFIDENTIAL Refrence (including advt. ref. if any) Position Applied for Time for Joining

58

PERSONAL DETAILS: Name: ( in Block letters as registered in school certificate) (First Name) Present Address: Permanent Address Tel. Res. Tel. Off. Date of Birth Age E-mail (Personal) Place of Birth Children: Male Female State of age of age Mob. (Middle Name) (Last Name)

Martial Status: Married/ Single

EDUCATION: Details of all examination passed from matriculation or equivalent onwards Exam/Degree/ School/ Year Branch of Class/ Regular/Part Diploma/ College/ of Study Grade/ Time/ Certificate University Passing Electives/ Division Correspondence Specialization & % of Subjects marks

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 59 Period of Employment

Address

From: Nature of Business

To:

Telephone

Current Position/ Position held No. of employees in the orgn. No. of employees in your unit No. of Executive No.of

Sales Turnover of the organization Sales Turnover of your unit No. of employees in the Dept. you work -Non- Executive No. of Direct report:

No. of Executives

No. of Non-Executive

List your 3 core competencies 1. 2. 3.

List 3 Key Achievements in your career 1. 2. 3.

Please draw a brief organization chart of your dept./ Division and outline your responsibilities (Attach sheets giving details if required) Organisation Chart: Current Responsibilities

60

Previous Employment Details: (Start from recent employment) Name of Period Position Position Brief description Last drawn the From To Joined Last of responsibilities Gross salary organizati Held Per month on

Present Remuneration Drawn: A. Monthly: Basic DA HRA/Lease Conveyance Any other (mention details) Total p.m. Total p.a.

B. Annual: LTA

Variable pay/Bonus

Medical

Any other

Total p.a.

C. Other Terminal Benefit p.a. Pf Superannuation Gratuity Total p.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

GENERAL Language Known Language Read

Write

Speak

1. Have Yes/No

you

any

relative

working

in

RELIANCE MONEY?

If yes please give details : Name Designation Unit

Relationship / Department

2. Have you earlier applied for any position in any of our factories/ Offices? Yes/No 3. Is your spouse e employed? 4. Have you any locational constraints? If yes, please give details/ reasons 5. 6. 7. 8. Can you undertake frequent t travels: Extra Curricular Activities: Interests/Hobbies: References: Please give names, addresses & Telephone Nos., of two Persons other than relatives to whom we may refer about you. 1. 2. Yes/No Yes/No Yes/No

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 any circumstances which might affect my fitness for employment. If any time, later, it is found that I have not disclosed any material information or have given incorrect or false information, the company will be liberty to terminate my appointment without any notice or compensation. Date: Place: Signature of Applicant

We thank you for information and assure you that this will be kept in strict Confidence. 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 after the interview and all the relevant papers are forwarded to the HRD Department at the earliest. The Interview Assessment include the following form which considers the following information: INTRVIEW ASSESSMENT FORM Interviewees Name Date Post Applied For Venue 1. 2. 3. ASSESSMENT FACTORS RATING Appearance Technical Knowledge General Knowledge Experience Communications Skills Innovative Thinking& Logic Growth Potential Decision Making Leadership Skills Maturity Interest/Cultural background A=Very Good B=Good C=Average Moneyow Average Overall strong points Overall weak points Written Test/Remarks Reason for leaving Remuneration Expected Suitable for any other Deptt./job Comments, if any 2006 REMARKS

D=Reliance

Selected

Not-

Keep Pending

Call for final

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 the expected 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 as Nominations under Insurance and Gratuity schemes, PF Declaration Forms etc. and all these records are maintained in their personal files. Induction Training is organized for the new joinees. Induction is organized internally 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 Moneyow mentioned levels:-

1) APPOINTMENT LETTER Language for Reliance Moneyow Asst. Manager level is given in the following format
RELIANCE MONEYOW ASSTT &MANAGER LEVEL ___________________ ___________________ ___________________ LETTER OF APPOINTMENT Dear Mr. __________________________ With reference to the offer letter no.______________________dated __________ we are pleased to appoint you as ____________________ on the following terms and conditions: 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. Dated : ___________________

EMOLUMENTS: A) you will be paid following emoluments: Basic Salary House Rent Allowance Local Travelling Expenses : : : Rs. __________ p.m. Rs. __________ p.m. Rs. __________ p.m.

You shall also be entitled to benefits like Bonus, Gratuity, PF, ESI & L.T.C as per rules of the company. B) Further increment will be based on efficient, satisfactory and loyal discharge of duties and may be withheld in case the standard of work and conduct is found subnormal of may be accelerated in case the same is adjudged to be commercial at the discretion of the management.

Your place of posting will be at our _________________situated at ____________________. However, you are liable to be transferred to any of our sites/factory/office at 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 the pronouncement or the Management in writing. You will also not hold any office of profit outside the company or engage yourself in any other trade or business either part 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 written permission of the management. 2. Your hours of attendance shall be regulated to suit the duties entrusted to you from time to time, subject to the statutory provisions. 3. You shall be governed by the rules and regulations of the company in force from time to time, that may be applicable to you. 4. In the event of your confirmation in writing, in addition to the terms and conditions mentioned in this letter, except para (1): a) You will be liable to be retired on your reaching the age of 58 years or earlier if found medically unfit. The organization shall have the right to have you medically examined as and when considered necessary by a registered medical practitioner or by the Companys medical officer. b) The employment will be liable to be terminated on either by giving one months basic salary in lieu thereof. However, no notice would be necessary to be given by the organisation if in their opinion you are found guilty of any gross misconduct as generally understood in employment, particularly disobedience, insubordination, insolence and acts subversive of discipline, habitual negligence of duties, distrust, dishonesty or embezzlement, illegal strike, habitual late attendance, absence, go-slow etc. 5. In case any misconduct is alleged against you, you are liable to be suspended forthwith without any salary or allowance, pending such inquiry, if in an inquiry you are exonerated of the charges, you will be entitled to full salary as if you were on duty. In the event you are found guilty of the charges levelled, irrespective of the punishment imposed, you shall not be entitled to any payment for the period of suspension. 6. The above mentioned terms and conditions of services shall prevail so long as the same are not either modified or they will also be subject to such other and further rules and regulations which may be notified by us by putting a notice in writing on the notice board put inside the premises.

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 of this letter in token of your having read, understood and accepted the terms and conditions 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 of appointment and I hereby accept the same. NAME SIGNATURE DATE

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 on the following terms and conditions:1) 2) 3) Designation : Your position in the company will be Date of Joining: Your date of joining the services in the organisation is Probation Period: Ordinarily your period of probation will be Six months from the date of joining. Management may extends the probation period depending upon your performance. On successful completion of probation, 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 any notice. After confirmation the notice period will be one month or one months 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 a maximum 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.

5)Place of Posting However, you would be liable to be transferred/posted at any of the existing or proposed locations of the company or its sister/associates companies at the sole discretion of the management. 6) The company normally does not permit employees to engage in any other business or work, either directly on their own account or indirectly and you will be expected not to do so without prior consent of the management 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 58 years. You may be retired earlier if found medically unfit.

7)

8)

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 to abide by all the rules and regulations of the company. NAME DATE SIGNATURE

3) Appointment letter language for sr. manager and above is given in the following format.
FOR SR. MANAGER AND ABOVE Dear Mr. . 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) 2) 3) Designation : Your position in the company will be Date

Date of Joining: Your date of joining the services in the organisation is .. 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 a maximum limit of Rs. ../p.m. (Rupees .. only) You shall also be entitled to benefits like Exgratia, Gratuity, PF etc. as per rules of the company. You will be entitled to reimbursement of Medical Expenses for yourself and family, the total cost of which shall be a maximum of one month's basic salary in a year. You will be entitled to reimbursement of LTC equivalent to one months basic salary per completed year of service. Your first entitlement for LTC will be on completion of 12 months service with the Company.

4) Place of Posting: . However, you would be liable to be transferred/posted at any of the existing or proposed locations of the company or its 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 you would be free to leave the services of thew company by giving one months notice or basic salary to the company. The company normally does not permit employees to engage in any other business or work, either directly on their own account or indirectly and you will be expected not to do 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 58 years. 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 to abide 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 and experience certificate, Date of Birth Certificate, Relieving letter, Salary Certificate and Educational Certificate etc. to be submitted to personnel Department.

Reliance Money DATE: HRD DEPARTMENT Mumbai JOINING REPORT This is to inform you that I have joined the organisation as On Department. My present address is Telephone No. And my Date of Birth is intimated to you. NAME : SIGNATURE: DATE: . Any change in my address will be in

VI)
1. 2. 3. 4. 5.

DOCUMENTATION

Individual personal files are maintained. Computerised Personal details are maintained. After separation also the personal files are maintained of ex-employees. Position wise Data Banks are maintained for future reference. 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 the Department which has raised the manpower requirement.

6.STATISTICAL ANNALYSIS
An Annalysis of the manpower requirements is prepared periodically based on the following factor: Source of recruitment Resumes received and short-listed Interviews conducted Candidates selected Candidates joined

F.FORMATS
The 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 with other personal details of the individual, which are confedential in nature.

G.RECORDS
The company includes the following records Manpower Requirement Forms Correspondence for release advertisements Correspondence with consultant

RESEARCH METHODOLOGY

RESEARCH METHODOLOGY

OBJECTIVE OF THE STUDY In Reliance Money the recruitment & Selection policy spells out the objective and provides a framework for implementation of the recruitment programme in the

form of procedures. The company involves a commitment to broad principles such as filling vacancies with best qualified individuals.

The recruitment & Selection policy in a company may embrace spell issue such as the extent of promotion from within, attitudes of enterprise in recruiting old, handicapped and minor individuals, minority group members, parttime employees and relatives of present employees.

In a company Reliance Money, there usually a staff unit attached with personnel or an industrial relations department designated as employment or recruitment office. This specialization Of recruitment enables staff personnel to become highly skilled in recruitment techniques and their evaluation.

However, recruitment remains the line responsibility as far as the personnel requisition forms are originated by the personnel, who has the final words in the acceptance or rejection of a particular applicant. Despite this the staff personnel

have adequate freedom in respect of sources of manpower to be tapped and the procedure to be followed for this purpose.

DATA COLLECTION
A sample size of 20 employees are studied for this purpose. Employees of different unit where randomly administrated the questionnaire.

DATA ANNAYSIS
The analysis of data was done on the basis of unit, age and number of years of experience and factors. Analysis was done using the simple average method so that, finding of the survey was easily comprehensible by all.

SOURCES OF DATA COLLECTION:

The primary as well as the secondary sources was used for collection of data. In primary source of data collection the interview schedule and questionnaire and opinion survey were used and in secondary source of data collection relevant records, books, diary and magazines were used. Thus the source of data collection were as follows: PRIMARY 1. Interview schedule 2. Questionnaire 3. Opinion Survey SECONDARY 1. Diary 2. Books 3. Magazines 4. Other records

I have used structural interview schedule, questionnaire and opinion survey for collection of data from primary source. Interview schedules were used for workers clerical , category and questionnaires were used for supervisory and executive cadre and opinion survey was used to know the technology, perceptions, thoughts and reactions of the executives, employees/workers and trade union members of the organization.

I have used the secondary source like diary, books, magazines and other relevant records for collection of data to know about the industry as well as the respondent.

DATA TYPE
Primary as well as secondary data was collected.

RESEARCH APPROACH
Conducting a field survey did a subjective assessment of the qualitative data. The research method used was that of questionnaire & interview for primary data & an extensive literature survey for secondary data.

RESEARCH INSTRUMENT
The questionnaire was used as the primary instrument for the collection of primary data which contained open-ended questions to chance response. In addition the personal interview method was employed to draw out answers to subjective

questions,

which

could

not

be

adequately

answered

through

the use

of

questionnaire.

INTERVIEW
Interviews lead to a better insight to subjective & open questions almost all interviewees responded.

SAMPLE UNIT
The sample unit consisted of all the departments of Reliance Money

SAMPLE FRAME
Consisted of a comprehensive list of all the employees of Reliance Money

SAMPLE SIZE
Sample size=100

SAMPLE DESIGN
Care was taken to choose the sample based on considerations like age, sex & work experience of respondents thus enabling better representations of the

heterogeneous population. However, the sample design was that of convenience sampling or haphazard sampling only. The time consideration & size of population were major factors in determining choice of sample design.

FINDINGS & ANALYSIS

FINDINGS & ANALYSIS

CANDIDATES WILLINGNESS TO JOIN THE COMPANY

Chart Showing Employees Willingness to Join the Company

23%

17%

5% 28% 11%

16%

Reputation of the Company Job Prospect

Working Environment Location of the Company

Salary Package Career Growth Opportunity

Interpretation:
From the chart it can be understood that most of the employees are inspired by the 28% working environment of the company , 23% career growth opportunity, 17% Repuation of the company,16% salary package of the company, 11% job prospect of the company & 5% Location of the company.

MOST RELIABLE TYPE OF INTERVIEW IS

Chart Showing the Reliable Type of Interview is

7%

36%

36%

21%

Behavioral

Situational

Structured

Stress

Interpretation:
I tried to find out the most reliable type of interview according the employee. They expressed different view. According to the sample employees. I found that behavioral interview is most reliable and this view was supported by 36% of the sample employees. Similar support was begged by the situational interview, while 36% structured interview and only 7% favoured stress interview. Corresponding to this data I have drawn a pie chart above: -

In RELIANCE MONEY

all the applications received in each branch/function (HR or Finance) will be

separately arranged in descending order of merit i.e. based on a percentage of aggregate marks of all the years/ semesters of professional course and only the required number (according to the ratios mentioned) starting from the top will be called for written test in each discipline of Engineering/Function (HR or Finance). In case of a tie at cut-off marks, all the candidates scoring cut-off marks will be called for written test. The Written Test papers will be objective type in nature and will be in Hindi & English. Based on merit and requirement, the short-listed candidates will have to appear for Psychometric Test and/or Behavioral Assessment Interview followed by Personal Interview. Candidates will be invited for Psychometric Test and/or Behavioral Assessment Interview followed by personal interview, in order of merit on the basis of Written Test performance. In case of a tie at cut-off marks, all the candidates scoring cut-off marks will be called for interview.

The

candidates are advised to ensure while applying that they fulfill the eligibility criteria and other

requirements mentioned in this advertisement and that the particulars furnished by them are correct in all respects. In case it is detected at any stage of recruitment process that the candidate does not fulfill the eligibility criteria and/or does not comply with other requirements of this advertisement and/ or he/she has furnished any incorrect/ false information or has suppressed any material fact(s), his/her candidature is liable to be rejected. If any of the above shortcomings is/are detected, even after appointment, his/her services are liable to be terminated without any no.

BEST WAY TO RECRUIT PEOPLE

Chart Show ing the Best w ay to Recruit People is

15%

40% 20%

25%

Advertisement

Walk-ins

Variable

Search Firms

Interpretation:
The employees at RELIANCE MONEY expressed their varied views about the best way, according to them, to recruit people. The employees in RELIANCE MONEY bear an opinion (about 40% of the sample) that advertisement is the best way to recruit people. While to 25% of the sample employees feel that walk-ins is best way while 20% feel that variable ways are the best. Others feel that recruiting people from search firms in a best way. Corresponding to this data I have drawn a pie chart above:

The aim of advertising is to make people aware that a vacancy exists and to persuade them to apply for the position. Advertising helps to define exactly the need of the company, and what separates it from its competitors. Often the people you want to attract are not openly looking for a new job, so you need to think of

ways to sell the attributes of the company, e.g. what makes It unique, its culture, values, philosophy and so on.

Good advertising highlights the assets of the position and appeals to the career needs and concerns of the desired applicants. It is worth making your

advertisement effective and attractive, as there is a high correlation between advertisements with accurate and complete information and recruitment success.

RESPONSE GIVEN BY THE STAFF ABOUT THEIR QUERY

Chart Showing Employees Satisfied with the Response given by the Staff about Query

6%

Yes No

94%

Interpretation:
My survey clearly concludes that response of the company to any query made by the employees was absolutely good since 94% of my survey favors to this. 6% ratio of unsatisfied can also be further reduced if communication system is further improved. Corresponding to this data I have drawn a pie chart I hereby submit my suggestion that every query by any employee should be seriously considered and it should be dealt in depth and if at any particular time of query if proper reply/material is not available, even than the answer must be given at a later stage after getting full information from the source available .

HOW CANDIDATES ARE RECRUITED IN THE COMPANY?

There are various ways of recruiting candidates in the company as depicted in the chart Reliance Money: -

Chart Showing Employees Recruitment Process

6% 6% 9% 85% 3%

Written Exam.

Written Exam & Interview

Written Exam, G.D. & Interview

Others

Interpretation:
From the chart it is quiet clear that the company adopts various processes for recruiting the right candidate. Actual recruitment procedure followed by the company is by conducting written examination followed by interview which comprised 85% of my

sample survey of 36 employees. But still some candidates are also chosen through written exam, GD& interview comprising only 6% and others comprising only 3%. These others include the reference of the existing employees within the organization itself. Eligible
candidates will be invited for objective type written test at their own expense. In Other words all

the applications received in each branch/function (HR or Finance) will be separately arranged in descending order of merit i.e. based on a percentage of aggregate marks of all the years/ semesters of professional course and only the required number (according to the ratios mentioned) starting from the top will be called for written test in each discipline of Engineering/Function (HR or Finance). In case of a tie at cut-off marks, all the candidates scoring cut-off marks will be called for written test. The Written Test papers will be objective type in nature and will be in Hindi & English.

WRITTEN TEST CENTRES The

Written Test will be conducted at following 12 centers: 2. Chennai 3. Delhi 4. Hyderabad 5. Kolkata 6. Mumbai 7. Silchar 9.Bangalore 10.Tiruchy 11.Haridwar12.Nagpur Candidates have to choose one of these cities

1. Bhopal

8. Varanasi

as Test Centre and no change will be allowed subsequently .RELIANCE MONEY reserves the right to change or delete any of the above mentioned test centers at its discretion.

JOB SPECIFICATION OF THE EMPLOYEES

Chart Showing Job Specification of the Response of the Employees

3%

Yes No

97%

Interpretation:
Almost all the candidates got the specified jobs offered to them. This implies that the company has the organized manpower planning and well organized recruitment policy as shown in the following chart: From the chart above it crystal clear that the candidates get exactly the same job as specified. So from the companys perspective it is a good sign for the overall growth & development. Still some employees who comprised only 2.33% of my sample study.

THE ATTITUDE OF H.R. MANAGER

Chart Showing what employees feel about the Attitude of H.R. Manager

13%

Good Very Good 57% 30% Excellent

Interpretation:
The chart Reliance Money depicts that most of the employees are doing service as per my survey of 20 employees. Most of the employees are satisfied with the attitude of H.R. Manager. 13% says Good attitude, 30% says Very Good and 57% says the attitude of H.R. Manager is excellent. Corresponding to this data I have drawn a pie chart From the chart it is crystal clear that the attitude & working of H.R. Manager is whole heartedly accepted to all the employees of the company. This will definitely boost the

morale of the employees, which ultimately will increase efficiency, & working of the employees resulting in better growth of the company. Thus by every means company is profitable. Moreover such behavior of H.R. Manager can become the ideal of their colleagues & subordinates.

Corresponding to this data I have drawn a pie chart Reliance Moneyow: -

Chart Showing the Primary Source of Information for Recruiting People

25%

40%

15%

20%

Managerial

Testing

Recruiters Themselves

Job Analysis

THE PRIMARY SOURCE OF INFORMATION FOR RECRUITING PEOPLE SHOULD BE :-

According to the sample ,the primary source of recruiting people is Managerial. However, Testing & Recruiters Themselves source are the second most favored source of Recruiting people. Whenever the process of Recruitment is to be carried out. Managerial source of Recruiting people should be heavily considered. Advertisement in publications and recruitment booklets and information sheets for applicants were found to be the most frequently and the least frequently used method of managerial recruitment. Newspaper advertisement was found to be the most preferred technique, while advertisement in the technical and professional journals was the least preferred technique for managerial recruitment in RELIANCE MONEY.

OPINION ABOUT RELIANCE MONEY COMPANY S APPLICATION BLANk

Chart Showing Opinion about BEL Company's Application Blank

10%

55%

35%

Good

Very Good

Excellent

Interpretation:
The above chart depicts that the Application Blank of the company was up to the marks as everyone has praised & liked it. All the information and present status of the candidate is very thoroughly covered and it also acts as a ready reckner for the company. All the information is gathered and define each and every thing very clearly about candidate who are applying for the job .

FINDINGS

1. Under recruitment Procedures Requisition System is incorrect because the replacement does not require fresh approval, unless it is in place of termination. 2. The data banks are not properly maintained. 3. The dead bio-data are never being destroyed. 4. Proper induction is not given to all the employees. It reserves to only a few levels. 5. Salary comparison is not justifies. Old employees are demoralized by getting less surely then new employee. 6. Salary fixation has a halo effect . 7. Recruitment procedure is not fully computerized. 8. Manpowers are recruited from private placement consultancy, who are demanding high amount of fees, where as HRD Department is not fully utilised to recruit manpower by advertisement. 9. Before recruitment cost benefit analysis is not done properly. It causes manpower surplus which makes loss in the industry. 10. Manpower is recruited from reliable source however efficiency does not recognise.

CONCLUSION

CONCLUSION

Studying the recruitment procedures of

RELIANCE MONEY., analysing the

respondents answers, opinion survey and data analysis it came to conclusion that RELIANCE MONEY is a growing Company. It has a separate personnel department which is entrusted with the task of carrying out its various roles efficiently. The business of RELIANCE MONEY is carried on in a very scientific manner. In the saturation point of business it need not waste the time to diversify into the another business.

Management understands the business game very well. At the time of difficulty it takes necessary action to solve the problem. Now the personnel department of RELIANCE MONEY is in infancy stage. It always try to modernize the department. It strongly Reliance Moneyieves in manpower position of the organization because it knows in the absence of M for man all Ms like money, material, machines, methods and motivation are failure. It always tries to develop the human resources. In the absence of right man, material, money, machines all things will not be properly utilized. So it always recruits manpower in a scientific manner.

SUGGESTIONS

SUGGESTIONS

1.Fresh requisition requires approval and not replacement. 2.The dead CVs should be destroyed. 3.Each level of employee should be formally inducted and introduced to the Departmental Head. If not all levels, at least Asst. Manager and above category of employees. 4.Salary comparison should be seriously done to retain the old employees. 5.Proper salary structure to be structured to attract people and make it tax effective. 6.Cost benefit analysis should be alone before creating a position or recruitment of manpower. 7.External source should be given equal importance with internal source. By which new brain will be inducted in the company with skill, talent, efficiency etc. 8.Manpower planning should be followed before recruiting. 9.Proper enquiry should be done regarding previous employment of a candidate before recruitment to avoid industrial disputes.

LIMITATIONS

LIMITATIONS

The study is limited to definite geographical area. Many consumers didnt have time to give information. Some of the consumers were not very forthcoming in the responses and reluctant to answer the questionnaire.

Response of few of them wee biased due to privacy. There are lost of other car brands available in market but due to lack of time not able to consider each thoroughly.

Due to big geographical area, I havent covered all the stets of India.

BIBLIOGRAPHY

Book: Kothari C.R. Research Mehtodology Vishwa Publication Second Edition Page No. 1-20 Patro S.K The Growth and Challenges of Rural Academic Foundation New Delhi edition 1991 Page No. 65

Webliography www.Reliance Money-india.com

QUESTIONNAIRE

1. Candidate willingness to join the company o o o o o o Reputation of the company Salary Package Working Environment Job Prospect Location of the Company Career growth opportunity

2. Most reliable type of interview o Behavioral o Situational o Stress 3. Best way to recruit people o Advertisement o Walk-ins o Search firms 4. Response given by the staff about their query Agree/Disagree 5. How candidates are recruited in the company o Written exam o Written exam & Interview o Written exam, G.D Interview 6. Job specification of the response of the employee Yes/No 7. Attitude of H.R Manager o Good o Very good o Excellent

8. The primary source of information for recruiting people should be o o o o Managerial Testing Recruiters themselves Job analysis

9. Opinion about RELIANCE MONEY Companys Application on Blank o Good o Very good o Excellent

OPINION SURVEY: Certain schemes yield more fruitful results in certain conditions and with some specific objectives. Needless to say that management practices differ from organisation to

organisation. But the fact is that success does not follow automatically, the people who implement the system that matters just as the authority without acceptance have no meaning. Recruitment process without trust of employees and organisation has no value however the objective may be ,so an attempt is made to study the attitude of those who are participating in recruitment process before giving any suggesting and concluding remarks. For this purpose research has taken opinion of 15 executives and 12 worker/employee of different departments/sections of the organisation. The questionnaire prepared and circulated may them is reproduced Reliance Moneyow indicating their responses to each question.

An example of a Questionnaire circulated among Yes executives 1. Are you in support of recruitment policy? 40%

No

No Response

50% 50%

10% 10%

2. Whether the existing recruitment policy is linked 40% to productivity? 3. Do you feel that manpower recruitment has been 10% rationalised by way of automation? 4. Whether the existing recruitment policy is getting will supports for the top management? 5. What are the benefits you are deriving from the existing recruitment policy? a) Reduction on labor cost? 60% b) Effective utilisation of human resources? 25% c) Maintaining timing in recruitment and staffing schedule? 6. Do you feel that job evaluation and job analysis helps in manpower recruitment in your 85% 60%

80%

10%

70%

20%

10%

30% 65% 30%

10% 10% 10%

5%

10%

organisation? 7. Do you think that the personal recruited from external sources is more desirable than the internal 10% 80% 10%

sources? 8. Whether cost benefit analysis is done before recruitment? 9. Are you satisfied with the existing recruitment system of the organisation? 10. Do you feel that performance appraisal helps in recruitment process? 65% 11. Do you feel that training will effect to recruitment process? 12. Do you think job rotation will affect the recruitment policy? 50% 13. How are you controlling the shortage and excess of manpower? A) By employing casual worker b) By employing extra hours c) By lay off / retrenchment 90% 90% Nil Nil Nil 90% 10% 10% 10% 40% 10% 65% 25% 10% 25% 10% 35% 55% 10% 30% 60% 10%

From the response indicated above it appears that the prevailing recruitment policy has definite impact on the organisation. Most of the executives showed positive response to

different questionnaires by virtue of manpower planning they used proposed deletion of manpower planning they used proposed deletion or addition of man in the organisation for a planning period. The excess or shortage are being adjusted and hence misutilisation is mere chance. The executives did not respond to the lay off and retrenchment for reduction in available human resources. Form the questionnaires it appears that the managerial staff are only interested for filling of the vacancies of higher post from out of the internal sources. This attitude will seize the professional approach of the organisation and may not able to induct fresh brain. From the answers of most of the managers it is observed that they want entry of new managers should be avoided and fresh recruitment shall be limited up to only staff cadre and not above that. From the answers of most of the executives it appears that cost benefit analysis is not properly followed by the organization and job rotation also not followed properly in the organization which make an employee all rounder in all respects. By which, in the absence of an employee the work will not discontinue.

AN EXAMPLE OF QUESTIONNAIRE CIRCULATED AMONG EMPOLYEES/ WORKMEN:

Yes No. No. Response 1. Are you satisfied with the existing recruitment policy 25% in your organisation? 2. Do you feel work load in your department? 3. Do you feel of your optimum utilisation? 4. Do you satisfied with your job? 20% 70% 25% 25% 65% 65% 15% 10% 10% 10% 10% 65% 10%

5. Do you feel that motivation is main factor for 75% optimum utilisation of existing manpower? 6. Do you feel that recruitment of lower level staff from 50% external source is desirable than internal source? 7. Do you feel that training imported by your 60% organisation helps in improving your performance?

40%

10%

30%

10%

From the response to the above questionnaires it is clearly indicated that most of the workmen are dissatisfied about the existing recruitment policy. They are not given chance for their development. Their skill efficincies are not recognized by the company