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PROJECT REPORT ON

A COMPREHENSIVE STUDY ABOUT “RECRUITMENT AND SELECTION”


W.R.T IL&FS INVESTSMART SECURITIES LTD

STUDY UNDERTAKEN

AT

BANGALORE

Submitted in partial fulfillment of the requirement of


Master Program in Business Management

Submitted By
RUPLYN TERANGPI
(Reg. no. MPBM08110)

Under the Guidance of


Mr. LIBIN PR (Company Guide)
Mrs. PRIYANKA (Faculty Guide)

Submitted To

Academy Of Business Management Tourism and Research.


Kudlu Gate, Opp. Skoda Showroom, Hosur Main Road
Bangalore - 560068

DECLARATION

I, Ruplyn Terangpi, hereby declared that this project entitled, “A


COMPREHENSIVE STUDY ABOUT “RECRUITMENT AND
SELECTION” W.R.T IL&FS INVESTSMART SECURITIES LTD,
BANGALORE,” submitted in partial fulfillment of the requirement for the degree
of Masters Programme in Business Management (MPBM) at Academy of Business
Management Tourism and Research (ABMTR). This is the project report carried
out by me during 01/05/2009 to 30/06/2009 under the supervision and guidance of
Mrs. Priyanka, faculty of Management Studies, ABMTR, Bangalore.

PLACE: BANGALORE SIGNATURE OF CANDIDATE


DATE:

FORWARDED

DIRECTOR
ABMTR

ACADEMY OF BUSINESS MANAGEMENT TOURISM AND RESEARCH

Academy Of Business Management Tourism and Research. 2


KUDLU GATE, OPP. SKODA SHOWROOM, HOSUR MAIN ROAD
BANGALORE - 560068

CERTIFICATE

This is to certify that this major report is submitted in partial fulfillment of the
requirement of MANAGEMENT PROGRAMME OF BUSINESS
MANAGEMENT is a record of bonafied major project carried out by RUPLYN
under my supervision and guidance and that part of this major project report had
been submitted earlier for the award of any degree and this report has not been
published in part or full any other magazine or journal.

Place: Signature of guide


Date: Prof. Priyanka

Academy Of Business Management Tourism and Research. 3


ACKNOWLEDGEMENT

I thank almighty for giving me the courage, enthusiasm and perseverance to handle
the project work.

I would like to express my deep sense of gratitude to our beloved and


highly esteemed management of ACADEMY OF BUSINESS MANAGEMENT
TOURISM AND RESEARCH and to our DIRECTOR Dr. SHAJI THOMAS
for giving permission and providing all support & facilities to carry-out this
Project.

I also express my sincere gratitude to MR. Libin P.R, Zonal Manager


of Trading Product (South), at “IL&FS Investsmart Securities Ltd, Bangalore”
for his valuable advice and support through-out the project.

I also express my gratitude to Mr. Jaison Joseph, Associate Manager at


IL&FS INVESTSMART SECURITIES LTD., for having provided with the
unique opportunity and guidance.

I sincerely thank Prof. Mrs. Priyanka for her guidance, advice and
fullest co-operation in completing my project.

I express my sincere thanks to all the staff and trainees of IL&FS


INVESTSMART SECURITIES LTD, BANGALORE for their help and
encouragement in completing the project.

Finally, I thank my friends and all the staff of ABMTR for their
immense support who helped me to make this work a success.

Academy Of Business Management Tourism and Research. 4


CONTENTS

Academy Of Business Management Tourism and Research. 5


Chapter Page

No. No.

1. INTRODUCTION:-

a. Company profile…………………………………………………... 6-21

b. Statement of the problem…………………………………………. 22

c. Objectives of the study……………………………………………. 23

d. Scope of the study…………………………………………………. 24

e. Research Methodology……………………………………………. 25-26

f. Research period……………………………………………………. 27

g. Limitations of the study…………………………………………… 28

2. Theoretical Background …………………………………………………. 29-40

3. Findings of the study …………………………………………………….. 41

4. Suggestions and Recommendations ……………………………………. 42

5. Conclusion……………………………………………………………….. 43-44

6. Bibliography ……………………………………………………………… 45

COMPANY PROFILE

Academy Of Business Management Tourism and Research. 6


Introduction

IL&FS Investsmart Ltd (IIL) is one of India’s leading financial services


organizations providing individuals and corporate with customized financial
management solutions. IL&FS Investsmart Limited smart describes itself as India’s
Financial Multiplex. All activities of IL&FS Investsmart Limited are based upon
the thought ‘Realizing your goals together’. It always strives to be a trusted
investment partner to help its clients work towards achieving their financial goals.
The institutional expertise of IL&FS Investsmart Limited combined with a
thorough understanding of the financial markets results in appropriate investment
solutions for its clients.
IL&FS Investsmart Limited, through its subsidiaries in India,
provide a wide range of investment products to its retail and institutional clients
including equity, investment banking, insurance broking and distribution, mutual
fund distribution and related financial services. IL&FS Investsmart Limited
provide a complete range of investment solutions to around 150,000 customers in
India through its 88 branches and 190 franchisee outlets from 133 cities and has
been recognized as “National Best Performing Financial Advisor-Retail” for 2
years in a row (2006-07 and 2007-08) by CNBC TV 18.

IL&FS Investsmart Limited has a strong team of Relationship Managers, Customer


Service Executives, Advisory Managers and Research Analysts, who offer efficient

Academy Of Business Management Tourism and Research. 7


execution backed by in-depth research, knowledge and expertise to customers
across the country. IL&FS Investsmart caters to the needs of retail customers
across India through a network of more than 300 offices encompassing almost
every Indian state.
Vision: To become the preferred long term financial partner to a wide base of
customers whilst optimizing stake holder’s value.
Mission: To establish a base of 1 million satisfied customers by 2010. We
will create this by being a responsible and trustworthy partner.
Corporate Action: An Approach to Business that reflects Responsibility,
Transparency and Ethical Behavior. Respect for Employees, Clients & Stakeholder
groups.
Top management
A committed and formidable management team anchors the company
towards its goal and provides direction in diverse areas of business strategy,
operating management, regulatory reporting, human resources development,
product development etc. Equipped with excellent domain knowledge and
extensive experience, they drive IIL’s vision.
 Managing Director & CEO : Mr. Manasije Mishra
 Head-Equity and Capital Markets : Mr. Avdhoot Deshpande
 Head-NBFC : Mr. Vipul Shah
 Vice President-Retail Equity: Mr. Dharam Shah
 Head–IAFL & General Insurance: Mr. B S Shashidhar
 Head–Alternate Channels: Mr. Bhuvenesh Khanna
 Chief Information Officer: Mr. C Diwakar

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 Head-Distribution : Mr. K Venkatesh

HSBC IN INDIA
The HSBC Group in India is represented by several entities including
The Hong Kong and Shanghai Banking Corporation Limited which offers a full
range of banking and financial services to its over 2 million customers in India
through its 47 branches and 170 ATMs across 26 cities. HSBC is one of India’s
leading financial services groups, with over 33,000 employees in its banking,
investment banking and capital markets, asset management, insurance broking, two
global IT development centers and six global resourcing operations in the country.
The Bank is the founding and a principal member of the HSBC Group which, with
over 10,000 offices in 83 countries and territories and assets of US$2,354 billion at
31 December 2007, is one of the world’s largest banking and financial services
organizations.
HSBC ACQUIRED 93.86% STAKE IN IL&FS INVESTSMART SECURITIES
LTD.
HSBC has completed the acquisition of 93.86 per cent of IL&FS
Investsmart Limited, for a sum of Rs.1,311 crores (around USD $296.4 million).
HSBC had acquired a 73.21% stake in Investsmart in may 2008, which included a
43.85% stake previously held by E*TRADE Mauritius and 29.36% stake holding
of IL&FS Investsmart Limited. HSBC later acquired an additional 20.65% through
an open offer taking its total share holding in Investsmart to 93.86%. “The decision
to acquire a controlling stake in Investsmart triggered an open offer to public
shareholders, through which HSBC has accepted shares equivalent to 20.65% of
Investsmart capital” says a statement issued by HSBC.

Academy Of Business Management Tourism and Research. 9


According to IL&FS Investsmart Limited the motive behind selling its
stakes to HSBC is described by Mr. Ravi Parthasarathy, Chairman of IL&FS
Investsmart Limited: “IL&FS Investsmart Limited goal is to position IIL as a
leader in the brokerage sector. In particular, the companies have always felt the
need for a successful brokerage Group to have an international capability. The
company believes that the strength of the HSBC Group provides a unique
opportunity for Investsmart to execute its strategic vision. It is IL&FS Investsmart
Limited intention to retain a close association with Investsmart through co-
operation on a number of areas that will be mutually beneficial and on an arm's
length basis”. They also felt that HSBC Group will provide Investsmart employees
significant opportunities to enhance the value proposition for their customers.
Investsmart employees will also benefit from the training and development
infrastructure that arises from being a part of one of the world’s leading banking
organizations.
The acquisition of IL&FS Investsmart Limited came in line with
HSBC’s strategy to expand its operations in the Indian subcontinent, which is
HSBC’s one of the fastest growing markets in the world.
“IL&FS Investsmart Limited is a great addition to the current
operations, which already constitutes the second largest foreign banking network in
India. HSBC look forward to working with Investsmart management team and
growing this business”. HSBC’s India chief executive, Naina Lal Kidwai said in
this statement.

Present share Holding Pattern of Investsmart:-

Academy Of Business Management Tourism and Research. 10


No of Equity % of total paid up
Shares capital
HSBC Securities & Capital Markets (India) 34,922,751 50.01
Private Limited

HSBC Violet Investments (Mauritius) Limited 30,625,692 43.85

Others 4,287,830 6.14

TOTAL 69,836,273 100.00

Academy Of Business Management Tourism and Research. 11


RETAIL BUSINESS IN IL&FS INVESTSMART SECURITIES LTD.

Retail offerings of IL&FS Investsmart Limited seek to cover all financial planning
requirements of individuals, which include providing personalized investment
management services including planning, advisory, execution and monitoring of
the full range of investment services. Broadly the retail services are divided into
two broad categories.

A.Advisory Services

1. Mutual Fund Advisory Services

Research is the fundamental basis of all sound investment decisions and the
superior research team of IL&FS Investsmart Limited allows it to deliver
superior solutions to the clients. Its investment decisions are backed by in-
depth research generated by top-drawer research team.

As a part of Mutual Fund Advisory Services, their team of


experts across India helps investors in selecting the right scheme from over
500 offerings, matching your needs, goals and risks. In addition to this, the
company also helps investors constantly monitor their MF portfolio, making
changes according to investors changing needs as per the market scenario, in
order to make their money work for investors.
At IL&FS Investsmart (IIL), their expert teams of relationship
managers interact with investors on a regular basis to discern investors

Academy Of Business Management Tourism and Research. 12


changing needs, in tune with the changing environment. Most of investors
require some assistance in making selections appropriate to their individual
needs. Investors need sound advice from people who have expertise to
decipher the financial jargon of investment options available today. Their
Investment Advisory Team helps investors customize and execute plans,
based on investors individual needs towards wealth maximization.

2. Portfolio Management Services (PMS)

Financial markets today offer enormous growth potential. But


managing investors own investments can be an extremely challenging task.
Anticipating market trends, assessing the impact of socio-economic changes
on investors investments, keeping abreast of latest corporate developments
and financial analysis all adds up. Managing one’s investments has become
nearly a full-time affair that requires considerable time and expertise.
At IL&FS Investsmart Limited, they offer the solution that allows
investors to relax as company put investor’s money to work through the IIL-
PMS, a Discretionary Portfolio Management Service.

About the IIL PMS Options:

Every investor is unique and has unique investment preferences and risk
appetites. Company offers a choice of two types of PMS schemes:

Academy Of Business Management Tourism and Research. 13


I preserve-
I Preserve is a discretionary investment management scheme, offering
investment solutions in Mutual Funds that are aligned to suit investor’s
financial goals. The primary objective of I Preserve is to manage investments
in Mutual funds, encompassing both debts as well as equity schemes. I
Preserve take care of complete execution of the investment and monitoring
on customers behalf.

Features:
Investors have a choice of five schemes based on investor risk profile
very High / High / Moderate / Low / Very Low.

I Growth-
I Growth is a discretionary portfolio management scheme focusing on
investments in equities and derivatives with an objective of growth. It aims at
creating long-term wealth through judicious stock selection and asset
allocation.

Features & Benefits:


Investors have a choice of three schemes based on investor risk profile -High
/ Moderate / Low.

• High Risk

Dynamically managed product to capture medium term upsides from

Academy Of Business Management Tourism and Research. 14


attractive business profiles, relative under-valuations, cyclical factors within
sectors and technical factors. Expect higher portfolio turnover.

• Medium Risk

Combines growth/value styles of investing in long-term growth opportunities


across sectors and market caps.

• Low Risk

Endeavors to minimize risk and yet offer stable and modest returns, through
judicious mix of defensive stocks. Emphasizes on quality of businesses and
pricing.

3. IPO Advisory & Distribution Services

IL&FS Investsmart Limited (IIL) is one of India's leading companies


engaged in the activity IPO Advisory and Distribution. Company’s primary
markets division does a comprehensive research before recommending issues
to clients. Company’s pan India reach helps them in mobilizing large number
of applications across India during public offerings, this has ensured that the
company constantly figure amongst the top ranking performers in the
primary market distribution space.
As a part of their online offering, customers can invest in IPO's
not only through the company branches but also through the company
website, which also provides investors with regular updates on the IPO
scenario, Open IPO's as well as the forthcoming IPO’s at any given point of
time. The primary markets distribution division works in conjunction with

Academy Of Business Management Tourism and Research. 15


the retail and wholesale distribution networks, as well as the company’s
private client group.

4. Insurance Advisory Services

IL&FS Investsmart Limited (IIL) is investor’s one stop shop for all Insurance &
Retirement needs. Their key service features include the following:-

 Risk management solutions for all.


 Comprehensive research for all policies available on a regular basis.
 Recommendations on a comprehensive insurance cover based on clients
needs.
 Maintain proper records of client policies.
 Continuous monitoring of client account.

B.Trading Products

1. Equities & Derivatives

IL&FS Investsmart Limited is a full service broking house offering services


across both the Cash and F&O segments. It is a member with National Stock
Exchange (NSE) as well as the Bombay Stock Exchange (BSE) and cater to trading
needs through a network of more than 300 offices across India.

IL&FS Investsmart Limited also offer comprehensive trading solutions


through their website www.investsmart.in which is equipped with host of unique
features to cater to the trading needs of clients.

Academy Of Business Management Tourism and Research. 16


The trading offerings include 3 different trading platforms to suit investor’s
individual needs, depending upon their profile.

The well experienced team of Research Analysts and Advisory Managers


guide investor’s with appropriate solutions, backed by in-depth research,
knowledge and expertise on a regular basis. The company would constantly help
clients with strategies for investments in equities, recommendations for trading on
futures & options, hedging with Nifty and other product and opportunities of risk-
less arbitrage between various segments.

(C) NRI Services

IL&FS Investsmart Limited is one of India's prime financial services company and
is committed to creating a differentiated financial services organization by
leveraging technology to deliver the most compelling combination of product,
service and price to a value driven consumer.

IL&FS Investsmart Limited offers investment solutions to meet the


financial objectives of NRIs. The end-to-end investment solutions guide customers
at every step of their investment in India right from PAN Card Assistance to
formulating & executing investment plans based on NRI requirements, robust
trading platforms till the assistance on accounting & income tax returns filing in
India.

Academy Of Business Management Tourism and Research. 17


NRI product offerings:

• NRI Equity:

Complete control of equity investments in India. Trade in NSE and BSE


listed stocks through the company’s trading solutions through their web and
software based trading platforms which is equipped with a host of unique features
to cater the investor’s need. At IL&FS Investsmart Limited, the company offer a
smooth online trading experience with exceptional trading tools, service and client
support enabling investors to make quick trading decisions. The 3-in-1 Trading
Platform enables clients to do online delivery based trading at their convenience.
This account links customers Banking, Demat and trading account, thus providing
customers a seamless platform to trade efficiently and conveniently. Customers can
also place their orders through company’s dedicated Call & Trade Facility or
contact customers Relationship Manager.

• NRI Portfolio Management Services:

Customized Solutions to meet customers Investment needs. Indian


markets today offer enormous growth potential. Anticipating the Indian market
trends, assessing the impact of country's socio-economic changes on investors
investments, keeping abreast of latest corporate developments and financial
analysis can be an extremely challenging task. Therefore, managing one's
investments may become nearly a full-time affair that requires considerable time
and expertise. At IL&FS Investsmart Limited, the company offer solutions that are
tailored to meet the investment needs of an NRI

Academy Of Business Management Tourism and Research. 18


IL&FS Investsmart securities limited understand the unique investment
preferences and risk appetites for NRIs who look for investments in India over a
long-term horizon. Company offer a choice of two types of Portfolio Management
Services schemes which are focused on returns from various asset classes I growth
and I preserve.

2. INSTITUTIONAL OFFERINGS

(A) Investment Banking Services

IL&FS Investsmart Limited (IIL) offers investor’s extensive range of


Investment Banking Services for equity related products and instruments. The
company team advises investors on transactions like business structuring and
capital raising opportunities based on customers corporate needs and state of
capital markets. Services IL&FS Investsmart Limited specialize in include
Management of:

 Initial Public Offering (IPOs)


 Follow-on Offerings
 Qualified Institutional Placements (QIPs)
 Buyback of Equities
 Open Offers
 Mergers & Acquisitions
 Private Equity Placements

Academy Of Business Management Tourism and Research. 19


(B) Institutional Equity Broking Services

Their efficient execution, quality research, top quality human resources and
complete compliance with stock exchange regulations, as well as business standard
ethics lend towards company’s exemplary services to investors, through IPOs,
equities, derivatives and mutual funds.

They also focus on identifying undiscovered value stocks to investors. Through it’s
gamut of services, this division is well-suited to corporate investors, banks,
financial institutions, insurance companies and FII’s. Their Institutional Equity
Business (IEB) is well positioned to offer support for a complete range of
investment banking service to Corporate.

They offer a wide array of products and services, specifically aimed at


improving market capitalization of forward looking companies. They work closely
with institutional investors, private equity investors and Corporates.

Their research division has a designated team for each asset class and consists
of qualified professionals who evaluate market trends and make unbiased and
objective reports.

(C) Institutional Debt Broking Services

IL&FS Investsmart Limited institutional debt broking division includes,


secondary market broking, primary market debt placement & distribution and
provident fund advisory services.

Academy Of Business Management Tourism and Research. 20


Secondary debt broking is the principle service provided by this division. The
clients mainly comprise of institutional debt players, such as banks, primary
dealers, mutual funds, large provident funds and in some cases corporate treasuries.
The division empanelled with almost all banks, primary dealers and mutual funds,
on whose behalf it acts either on the buying or selling side. All types of debt papers
are covered, including government securities, treasury bills, public sector bonds,
corporate bonds etc. This desk also provides transacting and advisory services to
various provident funds and HNI clients.

The primary market services cover placement of debt paper issued by Corporates,
with institutional segments covering banks, mutual funds etc. These services cover
various activities:-

 Advising the clients on the issuance including the instrument, quantum,


timing, and other instrument specific structuring such as put / call option,
conversion option and rating. Assisting in the rating exercise and suggesting
various means and options to improve rating if so desired, through
“Structured Obligations” or other mechanisms.
 Pre marketing the placement / issuance
 Selling / placing the issuance
 Assisting in any related documentation for the issuance
 Assisting in all other steps to complete the issuance for draw down funds.

 The debt instrument covered by this division cover both short term as well as
longer term instruments. Commercial paper and MIBOR Linked Bonds are
popular among the short-term instruments. The division uses a proprietary

Academy Of Business Management Tourism and Research. 21


online platform called “DebtonNet” for online book building of debt
issuances.

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STATEMENT OF THE PROBLEM

During the study I came across the certain area where I face the problem on the
Recruitment of the suitable students for the different area of the work.

During this tenure I came across the area where I found that the recruitment
process is much different from that of the IT industry we where Only provided with
the data base we were not expose to portals by which we Hire good skills.
The research was to complete within 60days from 1st may 2009 to 30th june 2009

Academy Of Business Management Tourism and Research. 23


OBJECTIVES OF THE STUDY

The Researcher has framed the following objectives

1. To study the existing recruitment and selection process apoted by IL&FS,


Bangalore.
2. To find out major areas in which attention is required to improved recruitment
and selection process of IL&FS.

Academy Of Business Management Tourism and Research. 24


SCOPE OF THE STUDY

The study is conducted for IL&FS,Bangalore to find out recruitment and selection
process of the company for period of 60 days from 1st May 2009 to 30 JUNE 2009 .
Introduction with the various departments backed up by a structured questionnaire
was a main source of qualitative data, and also personal interview was conducted
with the employees to whom the questionnaires were given.

Academy Of Business Management Tourism and Research. 25


RESEARCH METHODOLOGY

Title of the Study

“Recruitment and Selection Process in Investment Company”. The study is


showing recruitment process of any candidate in Investment Company. This
research is done at IL&FS This study also shows why student join investment
sector.

I used a descriptive type of research. It is one which includes surveys and fact
finding, enquiries of different kinds. The major purpose of such research is
description of the state of affairs, as it exists at present.

Methodology or process involving in the research followed during the course


of summer training is as follows –

Collection of data: This is an important aspect in formulating the objective of


research process where the data is collected via two process: (i) Primary Sources
and (ii) Secondary sources

Academy Of Business Management Tourism and Research. 26


Sources of Research

 1 Primary sources-

i. Preparing the Questionnaire.


ii. Calling the candidates for interview.
iii. Conducting the preliminary round.

 Secondary sources-
i. Newspaper.
ii. Magazines.
iii. Websites. (www.jobmantra.com)

Academy Of Business Management Tourism and Research. 27


Research Period

The study on recruitment and selection towards special reference to Big IL&FS
Bangalore, done by survey method and also by conducting personal interview with
the employees was conducted for a period of 60 days from May 1st to 30th june2009

Academy Of Business Management Tourism and Research. 28


Limitations of the Study

i. Static’s are blurred


ii. Some time vague.
iii. Not getting the right profile.

Academy Of Business Management Tourism and Research. 29


Recruitment and Selection

The recruitment and selection is the major function of the human resource
department and recruitment process is the first step towards creating the
competitive strength and the strategic advantage for the organizations. Recruitment
process involves a systematic procedure from sourcing the candidates to arranging
and conducting the interviews and requires many resources and time. A general
recruitment process is as follows:

1. Identifying the vacancy-The recruitment process begins with the human


resource department receiving requisitions for recruitment from any
department of the company. These contain:
 Posts to be filled
 Number of persons
 Duties to be performed
 Qualifications required
 Preparing the job description and person specification.
 Locating and developing the sources of required number and type of
employees (Advertising etc).
 Short-listing and identifying the prospective employee with required
characteristics.
 Arranging the interviews with the selected candidates.
 Conducting the interview and decision making

Academy Of Business Management Tourism and Research. 30


2. Prepare job description and person specification
3. Advertising the vacancy
4. Managing the response
5. Short-listing
6. Arrange interviews
7. Conducting interview and decision making

The recruitment process is immediately followed by the selection process i.e. the
final interviews and the decision making, conveying the decision and the
appointment formalities.

Fig.2.1 Recruitment process

Academy Of Business Management Tourism and Research. 31


The recruitment procedure of life insurance is very easy. A person with high
educating and well experience can be recruited after a personal interview and group
discussion. After the training program is completed the Insurance Agent has to
appear for the pre-examination conducted by IRDA. As he clear the exam he
provides a license, which is the proof of a legalized insurance Agent, which permits
him to deal in his insurance business.

Academy Of Business Management Tourism and Research. 32


Steps in recruitment of students for internship

 Approach to the likely student


 Appointment as per condition
 Discuss the topic
 Give the documents which includes:-
1. Prospectus of the company
2. Brochure
3. Company’s plan
4. Questionnaire
 Collect the document after its completion
 Forward it to project manager
 Feed it in the computer as the database
 Follow up as per conditions

Modes of Contact

 Personal Contacts
 References
 Phone Calls
 Guidance as per Unit Manager

E-Recruitment

Academy Of Business Management Tourism and Research. 33


Many big organizations use Internet as a source of recruitment. E- Recruitment is
the use of technology to assist the recruitment process. They advertise job
vacancies through worldwide web. The job seekers send their applications or
curriculum vitae i.e. CV through e mail using the Internet. Alternatively job seekers
place their CV’s in worldwide web, which can be drawn by prospective employees
depending upon their requirements.

Advantages of e-recruitment are:


 Low cost.
 No intermediaries
 Reduction in time for recruitment.
 Recruitment of right type of people.
 Efficiency of recruitment process.

The buzzword and the latest trends in recruitment is the “E-Recruitment”. Also
known as “Online recruitment”, it is the use of technology or the web based tools
to assist the recruitment process. The tool can be either a job website like
naukri.com, the organization’s corporate web site or its own intranet. Many big and
small organizations are using Internet as a source of recruitment. They advertise
job vacancies through worldwide web. The job seekers send their applications or
curriculum vitae (CV) through an e-mail using the Internet. Alternatively job
seekers place their CV’s in worldwide web, which can be drawn by prospective
employees depending upon their requirements.

The two kinds of e- recruitment that an organization can use is –

Academy Of Business Management Tourism and Research. 34


 Job portals – i.e. posting the position with the job description and the job
specification on the job portal and also searching for the suitable resumes
posted on the site corresponding to the opening in the organization.

 Creating a complete online recruitment/application section in the


company’s own website. Companies have added an application system to
its website, where the ‘passive’ job seekers can submit their resumes into
the database of the organization for consideration in future, as and when
the roles become available.

 Resume Scanners: Resume scanner is one major benefit provided by the


job portals to the organizations. It enables the employees to screen and
filter the resumes through pre-defined criteria’s and requirements (skills,
qualifications, experience, payroll etc.) of the job.

Job sites provide a 24*7 access to the database of the resumes to the employees
facilitating the just-in-time hiring by the organizations. Also, the jobs can be posted
on the site almost immediately and is also cheaper than advertising in the
employment newspapers. Sometimes companies can get valuable references
through the “passers-by” applicants. Online recruitment helps the organizations to
automate the recruitment process, save their time and costs on recruitments.

Online recruitment techniques

Academy Of Business Management Tourism and Research. 35


 Giving a detailed job description and job specifications in the job postings
to attract candidates with the right skill sets and qualifications at the first
stage.
 E-recruitment should be incorporated into the overall recruitment strategy
of the organization.
 A well defined and structured applicant tracking system should be
integrated and the system should have a back-end support.
 Along with the back-office support a comprehensive website to receive
and process job applications (through direct or online advertising) should
be developed.

2.4.1 Sources of Recruitment

Every organization has the option of choosing the candidates for its recruitment
processes from two kinds of sources: internal and external sources. The sources
within the organization itself (like transfer of employees from one department to
other, promotions) to fill a position are known as the internal sources of
recruitment. Recruitment candidates from all the other sources (like outsourcing
agencies etc.) are known as the external sources of recruitment.

Academy Of Business Management Tourism and Research. 36


SOURCES OF RECRUITMENT

Internal Sources

1. Promotions: The student reference is one the process of recruitment.

External Sources
1. Press Advertisements: Advertisements of the vacancy in newspapers
and journals are a widely used source of recruitment. The main
advantage of this method is that it has a wide reach.

2. Educational Institutes: Various management institutes, engineering


colleges, medical Colleges etc. are a good source of recruiting well
qualified executives, engineers, medical staff etc. They provide
facilities for campus interviews and placements. This source is known
as Campus Recruitment.

3. Placement Agencies: Several private consultancy firms perform


recruitment functions on behalf of client companies by charging a fee.
These agencies are particularly suitable for recruitment of executives
and specialists. It is also known as RPO (Recruitment Process
Outsourcing)

Academy Of Business Management Tourism and Research. 37


Factors Affecting Recruitment

The recruitment function of the organizations is affected and governed by a mix of


various internal and external forces. The internal forces or factors are the factors
that can be controlled by the organization. And the external factors are those
factors which cannot be controlled by the organization. The internal and external
forces affecting recruitment function of an organization are:

Internal Factors

The internal factors i.e. the factors which can be controlled by the organization are:

1. Recruitment Policy: The recruitment policy of an organization specifies the


objectives of recruitment and provides a framework for implementation of
recruitment program. It may involve organizational system to be developed
for implementing recruitment programs and procedures by filling up
vacancies with best qualified people.

Factors affecting recruitment policy


 Organizational objectives
 Personnel policies of the organization and its competitors.
 Government policies on reservations.
 Preferred sources of recruitment.
 Need of the organization.

Academy Of Business Management Tourism and Research. 38


 Recruitment costs and financial implications.

2. Human Resource Planning: Effective human resource planning helps in


determining the gaps present in the existing manpower of the organization. It
also helps in determining the number of employees to be recruited and what
qualification they must possess.

3. Size of the Firm: The size of the firm is an important factor in recruitment
process. If the organization is planning to increase its operations and expand
its business, it will think of hiring more personnel, which will handle its
operations.

4. Cost: Recruitment incur cost to the employer, therefore, organizations try to


employ that source of recruitment which will bear a lower cost of recruitment
to the organization for each candidate.

5. Growth and Expansion: Organization will employ or think of employing


more personnel if it is expanding its operations.

External Factors

The external forces are the forces which cannot be controlled by the organization.
The major external forces are:

1. Supply and Demand: The availability of manpower both within and outside
the organization is an important determinant in the recruitment process. If the

Academy Of Business Management Tourism and Research. 39


company has a demand for more professionals and there is limited supply in
the market for the professionals demanded by the company, then the
company will have to depend upon internal sources by providing them
special training and development programs.

2. Political-Social- Legal Environment: Various government regulations


prohibiting discrimination in hiring and employment have direct impact on
recruitment practices. For example, Government of India has introduced
legislation for reservation in employment for scheduled castes, scheduled
tribes, physically handicapped etc. Also, trade unions play important role in
recruitment. This restricts management freedom to select those individuals
who it believes would be the best performers. If the candidate can’t meet
criteria stipulated by the union but union regulations can restrict recruitment
sources.

3. Competitors: The recruitment policies of the competitors also affect the


recruitment function of the organizations. To face the competition, many a
times the organizations have to change their recruitment policies according to
the policies being followed by the competitors.

Academy Of Business Management Tourism and Research. 40


SWOT

Strengths

IL &FS unique multi-distribution model encompassing Agency. We take pride in


our track record of growth, financial solidity, ethical practices, domain expertise and
meritocratic culture. Join us for a rewarding and an enriching career.

Weakness

1. Low number of offices and network and number of life investment agents
2. Lack of knowledge and expertise.

Opportunities
1. Investment has captured 10-20 % market

2. Still the numbers of companies are few and company has every capability to
grow and forward its performance areas to the widest.

Threats
1. People are hesitant to invest and put their hard earned money.

2. Illiteracy and unemployment also pose threat.


3. Rising real estate industry also pose threat as people are investing a bulk of

their money over to that industry.

Academy Of Business Management Tourism and Research. 41


FINDINGS

During the study I came across different aspects of recruitment and its process. It
gave me a deeper understanding of how to recruit the efficient and effective
students for the marketing and sales profile. I came across some of the interesting
aspect where most of the students where Interested for profile and some area I face
the challenges to get talented students. It is totally a different experience where the
interaction with the Top level management was there. Due to which I came to
know their requirements and the type of skilled candidates they were targeting,
which helped me out for the Recruitment process.

Academy Of Business Management Tourism and Research. 42


SUGGESTION

During my study I found out the certain area which should be improved are the
company should use the new technology for the recruitment of the students and
provide the HR team with new technology and the social networking site.

Academy Of Business Management Tourism and Research. 43


Conclusion

Conclusion

Academy Of Business Management Tourism and Research. 44


CONCLUSION

Summer training is a best example for a trainee to learn about the company
working and corporate culture. In IL&FS I gained a significant knowledge with
respect of recruitment, its importance and applicability.

With the growing financial sector I would like to prefer this industry for my
future career advancement and as an opportunity to service this industry.

BIBILIGORAPHY
Academy Of Business Management Tourism and Research. 45
1. HUMAN RESOURCE MANAGEMENT :- CYNTHIA D

FISHER

2. H R M:- LYLE F.SCHOENFELDT.

3. HUMAN RESOURCE MANAGEMENT:- JAMES B .SHAW

4. HUMAN RESOURCE MANAGEMNET (PTU):-DR PG


AQUINAS

PROJECT REPORT ON
A COMPREHENSIVE STUDY ABOUT “RECRUITMENT AND SELECTION”
W.R.T IL&FS INVESTSMART SECURITIES LTD

Academy Of Business Management Tourism and Research. 46


STUDY UNDERTAKEN

AT

BANGALORE

Submitted in partial fulfillment of the requirement of


Master of Business Management

Submitted By
RUPLYN TERANGPI
(Reg. no. MPBM08110)

Under the Guidance of


Mr. LIBIN PR (Company Guide)
Mrs. PRIYANKA (Faculty Guide)

Submitted To

Academy Of Business Management Tourism and Research.


Kudlu Gate, Opp. Skoda Showroom, Hosur Main Road
Bangalore - 560068

Academy Of Business Management Tourism and Research. 47