SUMMER TRAINING REPORT ON

RECRUITEMENT AND SELETION IN FUTURE GENERALI

Submitted in partial fulfilment of the requirements of Post Graduate Programme by

ASTHA SONIK

PGP 10-12

20101058

IILM Institute for Higher Education New Delhi

DECLARATION FORM

I hereby declare that the Project work entitled RECRUITMENT AND SELECTION IN FUTURE GENERALI submitted by me for the Summer Internship during the Post Graduate Program to IILM Institute for Higher Education is my own original work and has not been submitted earlier either to IILM or to any other Institution for the fulfillment of the requirement for any course of study. I also declare that no chapter of this manuscript in whole or in part is lifted and incorporated in this report from any earlier / other work done by me or others.

Signature of Student: Name of Student: ASTHA SONIK

Signature of Company Mentor: Name of Company Mentor : M .MATHUR Designation: HR HEAD

Date: Place:

Date: Place:

ACKNOWLEDGEMENT

It is well-established fact that behind every achievement lays an unfathomable sea of gratitude to those who have extended their support and without whom the project would never have come into existence. I express my gratitude to Mr Medansh Mathur for providing me an opportunity to work on this thesis as a part of the curriculum. Also, I express my gratitude to Prof. Sumit Rastogi And Prof. Kailash Tuli - on the completion of my project.

CONTENTS
EXECUTIVE SUMMARY................................................................ 5 OBJECTIVE.................................................................................... 7 COMPANY PROFILE...................................................................... 9 WORKING METHODOLOGY.......................................................... 26 ANALYSIS..................................................................................... 30 RECOMMENDATIONS.................................................................. .46 LIMITTION OF PROJECT............................................................... 47 LEARNING..................................................................................... 48 REFERENCES................................................................................ 49 QUESTIONNAIRE.................... ........................................................50

EXECUTIVE SUMMARY

Future Generali--three-year-old general insurer--is planning to add 10 new offices to its existing network of 68 branches across the country this year.

Future Generali is a joint venture (JV) between the India-based Future Group and the Italy-based Generali Group. The company has its presence in India in both Life and Non-Life businesses as Future Generali India Life Insurance Co Ltd and Future Generali India Insurance Co Ltd respectively.is a large Indian retailer, which is part of the Future Group, and operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. Headquartered in Mumbai the company has over 1,000 stores across 71 cities in India and employs over 30,000 people, and as of 2010, it was the country's largest listed retailer by market capitalization and revenue. Following a huge dip in margins due to corporate insurance, private general insurance firm Future Generali India plans to increase its penetration in retail insurance business like auto, health, personal accident insurance and etc. Private insurer projects to increase its share in retail segment between 65% to 70% of its total portfolio, Managing Director and CEO of Future Generali India Insurance K G Krishnamoorthy Rao told Business Line. The company is also planning to infuse Rs 1 billion to take its total capital base at Rs 5.75 billion this year. In the year ended March 31, the private insurer collected a total premium income of Rs 6.12 billion by selling 61 million policies. The idea of focusing to the retail insurance business came from the group's flourishing business retail business. Future Group is running 160 Big Bazaar outlets in the country, which witness footfalls of 20 million annually. The company hopes to utilise its brand, data base and distribution network for the retail insurance business.

Recruitment is not a magical process in which people sign up, but is one of the most critical aspects of operating your business. Recruitment should be a dexterous process that connects candidates who need what you have to offer and who possess the skills and aptitude to implement your goal and objectives. The recruitment and selection unit is committed to recruiting and selecting qualified candidates for appointing in the business. This process includes executing all testing phases from the written examination up until applicants are appointed. The
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recruitment and selection process should guarantee fairness and consistency throughout the entire procedure. It should be executed in such a way that only those applicants who meet various job related standards are offered positions of appointment. The recruitment and selection units should actively recruit and participate in event that will proffer a diverse applicant pool. Recruiting from a pool of targeted leads can decrease member recession. The objective of my study was to have deep understanding of recruitment and selection practices. In this report, I have tried to incorporate all the issues related to recruitment and selection process which I could gather after reading various articles on Human Resource.

OBJECTIVE
 To find out the appropriate method of selecting candidates.  To focus upon the manpower planning and its relevance with respect to entire process of recruitment and selection.  Recruitment and selection process of the company and its relevance with respect to other methods of the same.  To get an exposure in the real working environment in the corporate sector.  To have a better understanding of the investment options available.  To have an understanding of Recruitment and Selection process in Future Group RECRUITMENT: Recruitment is, a process to discover the sources of manpower to meet the requirements of the staffing schedule and to employ effective measures for employing that manpower in adequate numbers to facilitate effective selection of a proficient workforce. PURPOSE:
y

Determining the present and future requirements of the organization

in accordance with its personnel-planning and job-analysis activities.

y y

Increasing the pool of efficient candidates at minimum cost. To increase the success rate of the selection procedure by decreasing the

number of under qualified or overqualified job applicants.

y y y y

To reduce the probability that attrition rate. To identify and prepare potential job applicants. Incorporate fresh strategies at all the levels of the organization. Developing a work culture capable of attracting competent people to

the company.
y

Global search of talent

SOURCES OF RECRUITMENT: There are broadly two sources of recruitment. Internal sources and external sources. Both having their own Pros and Cons.

Internal Sources:Persons already working in an organization create the internal sources. Retired employees, dependents of deceased employees constitute internal sources. Whenever a vacancy arises, someone from within the organization is upgraded, promoted or even demoted according to the requirement.

External Sources External sources are the ones outside an organization. In this case organisation can target:

y y y y y

Employees working in different organisations; Jobs aspirants registered with job portals; Campus Placements from reputed institutions; By reference of friends, relatives and existing employees; Walk-in interviews conducted by organisations.

SELECTION: Selection is the process of selecting individuals who have relevant qualifications to occupy positions in an organisation. The basic purpose is to choose a relevant candidate able to perform the job successfully. The other factors influencing the same are the image of the company, the nature of job, size of labour market, the place of posting, the compensation package are relevant to the recruiting efforts of the comp any. Through the process of recruitment the company tries to identify prospective candidates and encourages them to apply for vacancies at various levels. PURPOSE: The purpose of selection is to recruit the most suitable candidate meeting the requirements of the job in an organisation. The company obtains and assesses information about the applicants in terms of age, skills, qualifications, experience, etc. according to the needs of the job.

COMPANY PROFILE
Future Group

Future Group is Indias largest retailer[1] and one of the leading business houses with a strong presence in retail. Its founder and Group CEO is Mr. Kishore Biyani. Future Group India was established in 1994 with a vision to provide diverse services in Indian and Global markets. The business areas of Future Group cover BPO (Business Process Outsourcing), New Media, Security Management, and Construction. Through their strategic investment and services, the future of Future Group shows a rising star in the business sky of India.

Led by its flagship enterprise, Pantaloon Retail, the group operates over 16 million square feet of retail space in 73 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian stock exchanges. The company follows a multi-format retail strategy that captures almost the entire consumption basket of Indian customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian bazaars with the choice and convenience of modern retail.

Lines of Business The company is present across several lines of business which have various formats (stores) operational under it. These include:
y

Food - Food Bazaar, Chamosa, Spoon, Brew Bar, Sports Bar & Sports Bar Express, Cafe Bollywood,
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Fashion - Pantaloons, Central, aLL, Brand Factory, Blue Sky, Top 10, Fashion Station, Big Bazaar, Lee Cooper (JV),

General Merchandise - Big Bazaar, Shoe Factory, Navras, Electronics Bazaar, Furniture Bazaar, KB'S FAIR PRICE

y y y y y y

Home & Electronics - Home Town, eZone, Collection E-tailing (Online Shopping) - www.futurebazaar.com Books & Music - Depot Leisure & Entertainment - Bowling Co., F123 Wellness - Star & Sitara, Tulsi Telecom & IT - Gen M, M Bazaar, M-Port, Converge M

Statistics
y y y y y y y y y y y y

Listed on: Bombay Stock Exchange Stock Code: BOM:523574 Fiscal Year Ending: June Major Industry: Retailing and Dept. Store Chains Employees :35,000 (June, 2008) Share Volume : 217,384 Years High/Low Share Price : 475.95 252.05 Market Cap (Rs Cr) : 9620.26 Price to Earnings Ratio : 62.68 Earnings Per Share(Rs): 7.39 Sales (Rs cr) : 602.10 Net profit margin share : 2.1%

FUTURE RETAIL: The retails businesses of Future Group in India are divided into three main categories: Retail forms the core business activity at Future Group and most of its businesses in the consumption space are built around retail. Future Groups retail network touches the lives of more than 200 million Indians in 73 cities and 65 rural locations across the country. The group currently operates around 1,000 stores spread over 16 million square feet of retail space. Present in the value and lifestyle segments, the groups

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retail formats cater to almost the entire consumption expenditure of a wide crosssection of Indian consumers. PANTALOON RETAIL INDIA LIMITED The leading retail formats under this include:
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Pantaloons Stores -lifestyle segments and fashion segment. Big Bazaar - a uniquely Indian hypermarket chain Central - a chain of seamless destination malls Food Bazaar - a supermarket chain that blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality

y y y y y y

Home Town - , a large-format home solutions store E Zone - consumer electronics Depot - consumer electronics Health & Beauty Malls Online retail through futurebazaar.com Aadhaar- Indias leading rural retailing chain, that is present in over 65 locations in rural India. Aadhaar, an agri-service cum rural retail initiative, provides a complete solution provider for the Indian farmer.

Furniture Bazaar - specialized formats for home furniture and home furnishing

Ethnicity - India's first concept store, which recreates the experience of a traditional ethnic market in a modern retail format, JOINT VENTURES WITH INTERNATIONAL BRANDS

Indus League Clothing that owns leading apparel brands like Indigo Nation, Scullers and Urban Yoga

Galaxy Entertainment Limited that operates Bowling Co, Sports Bar, F123 and Brew Bar

French retailer ETAM group, US-based stationary products retailer, Staples and UK-based Lee Cooper.

Franchisee of international brands like Marks & Spencer, Next, Debenhams and Guess in India
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INDIAN JOINT VENTURE PARTNERS

y y y y

Manipal Healthcare Talwalkar's Blue Foods Liberty Shoes.

FUTURE CAPITAL HOLDINGS The financial services of Future Group are taken care by Future Capital Holdings. These include:
y

Asset Management and consumer credit are the prime focus financial services. Around 1 billion USD have been invested in retail real estate and consumer brands outlets and hotels.

Future Money - It is a financial supermarket format providing consumer credit

Joint venture with Italian insurance major General Insurance for providing general insurance services.

Venture Capital Funds and Private Equity Funds through kshitijfund.com

SECURITY MANAGEMENT Future Group is considered as a reliable tailor-made business and security services provider. They develop their own software and machines for security services. These include:
y y y y

Access Control Systems Time Attendance Systems CCTV Alarm Management Systems

KNOWLEDGE SERVICES Future Knowledge Services is a retail technology service provider for High quality, low cost services model catering to the entire retail value chain. Provide consolidated Technology Support, Business Process Management and Contact Centre for all group companies and partners. Its key partners include Wipro, SAP and Cisco.

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SAP as the backbone provider, ensures connectivity throughout the groups retail formats, warehouses, vendor partners and allied businesses. In addition VPN and Business Intelligence and Data Warehousing tools have also Customized training and content generation  Other people development related services FUTURE CONSUMER PRODUCTS LTD FCPL is a subsidiary company of Pantaloon Retail India Limited, incorporated in September 2007. The company has two brands under its umbrella - SACH & S Drive, inspired by Sachin Tendulkar. These brands operate in categories such as foods, apparels, personal care and general merchandize among others, and are available through Future Group formats. COMPANY TIMELINE/MAJOR MILESTONE 1987 Company incorporated as Manz Wear Private Limited. Launch of Pantaloons trouser, Indias first formal trouser brand. 1991 Launch of BARE, the Indian jeans brand. 1992 Initial public offer (IPO) was made in the month of May. 1994 The Pantaloon Shoppe exclusive menswear store in franchisee format launched across the nation. The company starts the distribution of branded garments through multi-brand retail outlets across the nation. 1995 John Miller Formal shirt brand launched. 1997
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Pantaloons Indias family store launched in Kolkata. 2001 Big Bazaar, Is se sasta aur accha kahi nahin - Indias first hypermarket chain launched. 2002 Food Bazaar, the supermarket chain is launched. 2004 Central Shop, Eat, Celebrate In The Heart Of Our City - Indias first seamless mall is launched in Bangalore. 2005 Fashion Station - the popular fashion chain is launched aLL a little larger exclusive stores for plus-size individuals is launched 2006 Future Capital Holdings, the companys financial arm launches real estate funds Kshitij and Horizon and private equity fund In division. Plans forays into insurance and consumer credit. Multiple retail formats including Collection I, Furniture Bazaar, Shoe Factory, EZone, Depot and futurebazaar.com are launched across the nation. Group enters into joint venture agreements with ETAM Group and Generali Beliefs Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the groups core value of Indianness. The groups corporate credo is, Rewrite rules, Retain values.

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INSURANCE Future Groups foray into life and non life insurance services and products is led through Future Generali India Life Insurance Company and Future Generali India Insurance Company, respectively. Future Groups partner, Generali Group was established in 1831 in Italy and is now amongst the three largest insurance companies in Europe and is ranked 30th on the Fortune 500 list. It has more than 3, 50,000 shareholders, and 70,000 employees and is present in 40 countries across the globe. The joint venture company - between Pantaloon Retail and Generali Group - Future Generali brings in a new wave of innovation in the insurance space. Apart from retailing insurance products in the exciting environment of shopping malls and consumption centres the companies are also setting up a robust pan-India footprint in over 100 cities and towns across the country. DIVERIFYING STRATEGY RETAIL TO INSURANCE. Pantaloon Retail (India) Limited (PRIL) announced that it had signed an agreement to form a joint venture (JV) with the Italy-based Generali Group4 (Generali) to tap the insurance sector in India. The venture would be called 'Future Generali' and would be headquartered in Mumbai, India. Generali would have a 26 percent stake in the venture, which was expected to offer both life and non-life insurance products. PRIL, which began as a trouser manufacturer in the mid-1980s, had grown over the years to become one of India's largest retail chains.5 The foray into insurance was part of the group's diversification strategy. In March 2006, the Pantaloon Group renamed itself as the 'Future Group'. The Future Group was divided into six verticals - Future Retail, Future Capital, Future Brands, Future Space, Future Media, and Future Logistics. Under the new structure, PRIL would be a part of Future Retail The Future Group planned to operate its insurance business through its financial arm, Future Capital, which was involved in asset management. Future Capital also had plans to get into credit and other consumer related financial services such as banking, personal finance, and investment services. PRIL planned to leverage on its retail strength to acquire customers and cater to their insurance needs.
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Analysts felt that Biyani had restructured the Pantaloon group under a new identity in order to consolidate the group's leadership position and diversify into new growth areas in the Indian retail. Moreover, the attitudes and preferences of Indian consumers were changing, thanks to the increase in their disposable incomes and exposure to global products and trends. The growth outlook for the Indian retail sector was positive given the estimated 300 million6 strong middle class, a fairly young population7, and organized retailing constituting just three percent of the total retail business in India. Commenting on the drivers for growth in the Indian retail sector, Biyani said, "I believe that consumption will be the next big driver of India's economic growth. Rising incomes and increased exposure to global products and global consumption patterns have changed the average Indian's attitude towards consumption and savings. Increased and channelized consumption would lead to the development of the nation through improved and better infrastructure facilities, greater employment generation possibilities will emerge with increased consumption, leading to people wanting to spend more on themselves. This cycle is what will fuel the consumption boom in the country." Biyani realized that the company had to shed its previous image of being just a fashion and food retailer, if it wanted to tap the potential in diverse areas like home solutions, leisure & entertainment, fitness, communications, and financial services. However, some industry analysts said that the Future Group would have a tough task ahead due to competition from other organized retail players like Shoppers' Stop9, Trent Ltd.10, and FoodWorld11. The restructuring and expansion drive prompted Biyani to bring in new talent and professionalize the business. The group sought to utilize the expertise of the highly qualified and experienced executives to oversee the group's initiatives in various business sectors. At the senior management level, the group hired high profile executives from reputed organizations like Goldman Sachs , Coca-Cola India, etc. In addition to bringing in new talent at the senior management level, PRIL also tied up with a few management schools to create a management talent pool for the lower levels of the organization...

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Organi ati n Profil

Future Generali: t li i li li i i i t li i l t i i t t t t j i t t t t i t t t l

t li i i it

ti

i i C t li li it t t i t

t t t

i li l ti i i l

i i

i C t ti t t it t

it l

t /l

t it ilit

Generali Group i one of t e leading insurance groups in Europe, wit a 2009 total premium income of more t an 70 billion It is present in 68 countries It has 70 million clients worldwide It has 85,322 employees (15,956 in Italy) It has over 400 billion of assets under management High rating assigned by the international rating agencies:
o o o o

y y y y y

A.M. BEST: A+ STAB E Standard & Poors: AA- STAB E Fitch Ibca: AA- NEGATIVE Moodys: Aa3 STAB E

T E GE E L GROUP The Generali Group is a leading player in the global insurance and financial markets. Established in Trieste in 1831, today the Group is one of Europes largest insurance providers and the European biggest Life insurer. It is also one of the worlds top asset managers with assets totaling more than 400 billion. With an employed sales force of more than 100,000 people serving 70 million clients in 68 countries, the Group occupies a leadership position in Western Europe and an increasingly important place i Eastern Europe and n Asia.

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The Group strategy aims to consolidate Generalis pre -eminence on its key markets and achieve a premier position on markets with high growth potential, establishing its leadership in profitability.

Organi ational Hierarchy:

CEO

ZONAL BUSINESS HEAD

REGIONAL MANAGER

BUSINESS MANAGER

AGENCY DEVELOPMENT MANAGER

ASST.SALES MANAGER

SALES MANAGER

SENIOR SALES MANAGER

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Leadership The Future Group employs over 30,000 people and was counted among 15 best employers in India in a survey conducted by Hewitt Associates in 2007 in association with The Economic Times. The Group has developed a strong senior management team with cross-functional expertise in multiple businesses and is led by its Founder and Group CEO, Kishore Biyani.

Kishore Biyani founded Pantaloons in 1997, followed by a number of popular retail formats including Big Bazaar, Central, Food Bazaar, Brand Factory and Home Town that now cater to almost the entire consumption basket of a wide cross-section of Indian consumers. In the recent years, Kishore Biyani has led the groups transformation into one of Indias leading business houses with presence in capital, consumer finance, insurance, brand development, retail real estate development and logistics.

A staunch believer in the groups corporate credo, Rewrite Rules, Retain Values, Kishore Biyani considers Indianness as the core value driving the group. He was recently awarded the Ernst & Young Entrepreneur of the Year 2006 in the Services Sector and the Lakshmipat Singhania - IIM Lucknow Young Business Leader Award by Prime Minister, Dr. Manmohan Singh in 2006. He was also awarded the CNBC First Generation Entrepreneur of the Year 2006. Kishore Biyani was born in August 1961 and is married to Sangita and they have two daughters. He recently authored a book, It Happened in India that captures his entrepreneurial journey and the growth of modern retailing in India. Values
 

Indianness: confidence in ourselves. Leadership: to be a leader, both in thought and business.

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Respect & Humility: to respect every individual and be humble in our conduct.

   

Introspection: leading to purposeful thinking. Openness: to be open and receptive to new ideas, knowledge and information. Valuing and Nurturing Relationships: to build long term relationships. Simplicity & Positivity: Simplicity and positivity in our thought, business and action.

 

Adaptability: to be flexible and adaptable, to meet challenges. Flow: to respect and understand the universal laws of nature.

Vision Future Group shall deliver Everything, Everywhere, Every time for every Indian Consumer in the most profitable manner. Mission We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development. We will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments for classes and for masses. We shall infuse Indian brands with confidence and renewed ambition. We shall be efficient, cost- conscious and committed to quality in whatever we do. We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful. MANAGEMENT FUNCTION It was described by Henry Fayol in the year 1800 when he was the CEO of a large mining company. Fayol has noted managers at all levels operating in a profit or nonprofit organization, must perform each of the functions of:

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Planning
The organizations long term goal is to capture a major pie in the market share and earn good profits. For this purpose the organization has:  A Procurement plan where it procures its finished goods (apparels) from various brand manufacturers.  An outlet site selection plan (to open at convenient and profitable location)  A marketing plan (Collect apparels, footwear etc from companies and allocate store space etc., Advertising.)  A finance plan on revenues and expenditure and how many stores to open, how many brands to keep reducing inventory levels.

Directing  New products/ designs to be introduced (Quantity-wise and variety-wise).  Identification of proper stores location  Continuous supply of inventories from suppliers (Preparation of procurement schedule)  Inventory planning, monitoring, and tracking of work in process. Coordinating and Controlling  Inventory control to keep the cost at optimum level. Managing work in progress.  Orders placed to the suppliers for inventories.  Volumes of the orders from the customers that the company can handle.  Organized reports at all levels. Sone Ki Chidiya When the Mughals first came to India they were drawn by the lure of her fabulous wealth - India was known as the "Sone Ki Chidiya," literally - "The Golden Bird". The Indian economy is once again at the centre of the global attention. As domestic consumption drives economic growth in India, Future Group hopes to play a pivotal role in bringing back the Sone Ki Chidiya.
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CSR ACTIVITIY While FUTURE GROUP continues to create world-class infrastructure throughout India, it has not lost sight of its responsibilities as a change agent for accelerating the pace of social and economic transformation across various segments to complement the efforts of the government. In fact FUTURE GROUP's first social responsibility interventions date back to the time that FUTURE GROUP was setting up the FUTURE GROUP township in Gurgaon when instead of turning a blind eye to the local problems, FUTURE GROUP decided to undertake internal development work in the villages of Nathupur, Chakarpur and Wazirabad by contributing through construction of internal village roads, additional rooms in the schools and internal village electrification. At around the same time, FUTURE GROUP initiated its first education initiative by setting up the Swapana Sarthak informal school for children of the construction workers. This school manned by trained volunteers conducts classes for children who are ill equipped to join regular school or those who cannot afford to do so. All children enrolled are provided with free uniforms, mid day meals and learning material. Starting from merely 10 students, the school today has on roll 220 students. Initially getting the children out of their homes and instilling a sense of personal hygiene and cleanliness was a challenge and the volunteers had to really work on them to ensure the present state.

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SOCIO ECONOIMIC ENVIRONMENTAL DEVELOPMENT At Future Group, corporate social responsibility, inclusive growth and sustainability are at the core of our strategy and business practices. This reflects in our commitment to the community, environment and to every stakeholder in building a stronger foundation for our long -term, sustainable growth. The Group aims to make a positive contribution to sustainable development, managing and reducing the direct and indirect impact of its business. In particular, when it comes to direct impact, the Group has defined the following priority objectives: manage business by exploiting natural resources in an efficient way, minimizing the environmental impact deriving from the consumption of energy, paper and water, the production of waste and the emission of greenhouse gases; direct management decisions towards providing incentives for adopting sustainable strategies and using renewable energy; improve methods of detection, calculation and traceability of environmental data, with particular reference to CO2 emissions and waste disposal. Fully aware of its ability to influence stakeholders by raising their awareness of adopting responsible behaviour on environmental issues, the Group also intends to manage the indirect impact of the activities associated with the procurement of goods and services, with the planning and supplying of insurance and financial products and with institutional investment operations. In this context, the Group pursues the following objectives: direct procurement decisions towards suppliers complying with the principles set out in this document; raise awareness of environmental issues among issuers of financial instruments, excluding those responsible for serious environmental harm from its investments; provide incentives for clients to adopt eco-sustainable behaviour by offering insurance and investment products that promote environmental awareness.

Commitments

In its pursuit of the objectives set out above, the Group undertakes to implement a

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system to manage all environmentally significant aspects, striving to: direct its decisions to ensure compatibility between business and environmental protection, not only adhering to current legislation but also promoting scientific research and examining existing best practices; integrate climate protection preventive measures into its strategies, creating awareness of the causes and probable consequences of climate change, both within the Group and externally; promote the spread of a sound, lasting environmental culture among all staff members of Group companies, encouraging involvement through specific information and training programmes and the definition of environmental responsibility; adopt a transparent, ongoing approach to communicating environmental management results, measuring and monitoring the performance level by devising and monitoring a specific system of performance indicators; periodically review the Groups Environmental Policy to define new objectives and commitments for the purpose of ensuring their compliance with developing environmental needs, changes to the Group's business and stakeholder opinion, and decide upon further action for improvement. The Environmental Policy and future revisions are defined and approved by the Parent Company Board of Directors. The Committee for the Environmental Management System is responsible for the specific tasks and competence needed for the Policys dissemination within the Group and for achieving the objectives outlined above

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ECONOMIC EMPOWERMENT Future Groups vision of inclusive growth for a harmonious society, points to a future in which the entire population can enjoy a better quality of life. We aim to serve as a catalyst that stimulates the use of inclusiveness as a powerful development tool. Future Group aims to create and sustain an environment conducive to the domestic growth of India by partnering with various stakeholders and playing a proactive role in Indias development process. Future Group believes in broad-based growth, the fruits of which are not concentrated in the hands of few but shared by the community as a whole. This is the way towards achieving the dual goal of profitable and socially responsible growth. Our initiatives in inclusive development include livelihood issues, diversity management, skill development and protecting the environment, to name a few. Modern Indian retail can help improve incomes and provide opportunities for growth to individuals with lower education levels or from the unorganised sector. With fair wages and benefits, opportunities for further development and growth and a better working environment, modern retail offers much more than most alternatives available to such individuals. Future Group focuses on three key enablers for inclusive growth: employability, innovation and entrepreneurship. While employability helps create a qualified and skilled workforce, innovation and entrepreneurship help drive growth and generate employment.

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WORKING METHODOLOGY
Their recruitment process of company comprises of both internal and external methods.

INTERNAL METHODS:

EMPLOYEE REFERRALS- In this method the current employees are encouraged and rewarded for introducing suitable recruits. The logic behind employee referral is strong. The current employees understand the culture of company and tend to refer appropriate candidate. They are also acquainted with the others of same skills like theirs schoolmates, former co-workers etc. The profile for which this method is generally preferred is ASSISTANT SALES MANAGER, SALES MANAGER, and SENIOR SALES MANAGER.

Merits:
y y

Provide the source of passive candidate Tend to replace expensive recruitment channels such as employment agencies, newspaper advertising, job fairs and so on.

y y

Morale booster as current employees gets incentives for referral. Ongoing recruitment cycles.

Demerits:
y y

Results in discrimination sometimes Low quality referrals

JOB POSTING- Intranet is used for Job Posting. Job Posting is a provision in which a firm posts a lists of open positions (with their descriptions and requirements) internally so that the existing employees who intend to move to different functional areas may apply. This process is also called Job bidding. It helps the qualified employees working in the organization to achieve new heights, instead of looking for better options outside. It also helps organization in retaining its promising and experienced employees.

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EXTERNAL METHODS:

1. COLLEGES- The candidate for Sales Executives and Sales Manager posts are recruited by campus placement . The salary package offered for the freshers is 1.8-2.2 lacs for Sales Executive,2.5-3.5 lacs for Sales Manager.

2. FORMER EMPLOYEES-The company also believes in hiring its best exemployees generally for senior level.

3. ADVERTISING- Advertisements are the most commonly used technique for external recruitment.

4. JOB FAIR- Also known as career fair or expo. Its an exposition for recruiters to meet perspective job seekers. In this method a single employer or group of employers get a chance to interact with large number of candidates at single location for interviews.

PASSES TECHNIQUE:
P-Prospect A-Approach S-Seminar S-Screening E-Evaluation S-Selection

y y y

PROSPECT- To see if the candidate is appropriate for the job. APPROACH- Approaching candidates through emails and telephone. SEMINARSeminars are conducted either in hotels or companys

conference room depending upon the strength of gathering.

y

SCREENING-The filtered candidates are made to understand the job profile.

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EVALUATION- Their evaluation is done on the basis of some factors like age, experience, communication skills etc. Sometimes they are also given the sales target. This technique is also known as Work Sample Testing.

SELECTION-Finally the candidate is selected as per the evaluation result.

INTERVIEWS:

STRUCTURED INTERVIEWS are generally used in which the questions regarding work experience, family background and interpersonal skills are asked.

METHODS OF INTERVIEWS: ONE-TO-ONE INTERVIEW- Applicant meets one by one with the interviewer.

Interview process takes place as follows:

INITIAL BRANCH LEVEL INTERVIEW-Such interviews are taken by Branch manager to select the candidates best suited for the job.

REGIONAL BRANCH INTERVIEW-Such interviews are taken by Regional branch manager and his decision is final regarding the selection or rejection of candidate..

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Research Methodology
Secondary data I will collect the secondary data from the different sources and the some of the sources are motioned below.

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Newspaper Economics Times, The financial express, Times of India Magazine Time, NHRDM Website/Internet Gail India Book Robert N. Lussier. (2000).Human Relations in Organizations

Primary data Primary data were gathered through in-depth semi-structured interviews TOOL USEDPie chart, bar graph etc. SAMPLING METHOD Random sampling SAMPLE SIZE50 employees of Future group Target AudienceInternet users (15 to 45 years of age)

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Analysis
In Future Generali they cultivate a collaborative culture where talented personals can produce their best work. They value diverse insights, innovative thinking and strive to offer an exceptional level of customer service through their professionalism and expertise.

The quality of their people is their key differentiator and they offer outstanding career opportunities. They take pride in operating a knowledge organization and in developing. Learning and Development Learning and development is a priority for all their people. Formal development opportunities include training and a wide range of learning program designed to develop technical and non-technical skills and to build knowledge in specific industries or functional areas. They are always looking for innovative ways to provide the best possible learning experiences for their people. Shaping Great Careers Career management and counseling skills are critical for their people and they make a significant investment in helping their people to develop these skills. Their career development program for their trainees has already had a significant impact in contributing to their success. All CVs submitted are carefully examined even if there are no vacancies. The candidate may then be contacted by Human Capital for a preliminary interview. In case there is an active position and if the profile of the applicant matches with the organization requirement, the candidate may be called for further rounds of selection. Candidates not suitable for a specific position will be retained in the database and may be contacted for a relevant position at a future date. Resume of candidates registered with Future Generali will be used strictly in accordance with the personal data policy of the company and will be kept confidential. It is Future Generalis policy to retain the personal data of candidates for future recruitment purposes. However, should candidates not wish their personal data to be used for future recruitment exercise, they may request their destruction by contacting our Human Capital Dept.

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1.

Is formal process of recruitment followed y your company?

uncertain % no 7%

yes 75%

From the above diagram it is pretty clear that most employees of Future Generali (75%) are satisfied by the recruitment and selection process adopted by the company. But to make improvements in the recruitment and selection techni ues some changes suggested by the employees can also be introduced.

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2. On what asis new employees are hired in your company?

immediate need 21%

yearly basis 5%

both 74%

From the above diagram mi ed responses can be seen about the question asked above.74% of employees feel that the hiring in future generali is done both on the yearly basis and immediate need but 21% of employees answered that its done on the basis of immediate need and the remaining 5% answered saying its done on yearly basis.

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3. What recruitment sources should e followed y your company ?

any other 4% promotion/transfe r 25%

references 20%

As analyzed from the above chart the sources mainly used by future generali are references consultancy firms and promotions but as interpreted form the chart many employees are also in favor of campus placement as method of recruitment. . 20% of employees feel reference is a good way for recruitment and 15% have suggested using consultancy services.

campus placements 30%

consultancy 2 %

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4.

In your opinion which criteria is effecti e for selection process ?

any other 2% written test 5%

written test and interview 53%

personal interview 40%

Future general uses structured interview for the selection of a candidate but as it can be interpreted from the above chart 53% of employees prefer written test and interview both as a mode of selection while 40% of them were satisfied with the current technique. 5% of employees feel that written test should be taken at the time of sele ction and some of them also suggested for physical examination of candidate should be done as a part of recruitment.

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5. Do you think, 3 rounds of interview in Future Generali are required for an effective recruitment process.
strongly disagree 6%
strongly agrre 10%

agree 21%

disagree 59% ant say 4%

Interpretation: 59% of the employees disagree about this as they feel that the number of rounds should be decided according to the profile for which the interview is being conducted.

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6.

Is your profile the same as described to you during the interview ?

no 3%

yes 97%

Most of the employees feel that they got the same job as the job description they were given. This proves that future generali have an organized recruitment policy and manpower planning. So from the companys perspective it is a good sign for the development and overall growth.

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7. According to you on what basis candidates should be evaluated for selection?

academic qualification %

family background 11%

As depicted in the diagram above Experience is the most important criteria to select the candidate. Academic qualification is the second most important criterion. Only 10% of employees think that family background should be used as a criterion of selection by the company. 22% of employees think that all the three factors should be considered for selection.

all three 27%

experien e 33%

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8.

Do you think physical examination should be one of the criterion of

selection?

cant say 8% no 22%

yes 70%

By evaluating the physical examination the physical characteristics of the individual are determined which are significant for his efficient performance of the job he is assigned. As its clear from the chart 70% of employees consider physical examination as an important factor in the selection procedure. They believe it will help in ensuring higher standard of physical fitness of the employees and in turn will reduce the rates absenteeism and labor turnover. 22% consider it a wasteful expenditure of the company while 2% have no views regarding this.

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9.Should intelligence test be implemented as a part of recruitment?

no 20%

yes 80%

As it can be interpreted from the above chart 80% of employees feel that intelligence test should be implemented as a part of selection procedure of company.

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10.Should female candidates be given preference at the time of selection ?

yes 15%

no 85%

As its clear from the above chart that most of the employees dont want any preference to be given to female applicants as they think it would be a type of discrimination.

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11.Is overall recruitment & selection process of your companysatisfactory?

dissatisfied 33%

satisfied 55%
neutral 12%

Above figure depicts that 55% of employees are satisfied by the recruitment process of the company while 33% thinks that certain measures should be taken for the improvement of their recruitment policy and the remaining 12 % were neutral about it and did not comment on the same.

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12.

Which of the below mentioned factors according to you have a beneficial

effect upon the ability of Future Generali to appoint and retain good employees?

good working enviotnment 1 %

salary package 31%

career growth 3 %

Most employees of the company stated that they were most inspired by the salary package and career package. Chart also depicts that Brand name is also a major factor which motivates the work force of company.14% of the employees consider working environment to be a motivating factor.

brand name 20%

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13. Is the recruitment department of your company is efficient enough.

strongly disagree 6% strongly agree 5%

disagree 25%

cant say 12%

agree 52%

Interpretation: More than half of the employees consider the recruitment department of the company efficient enough in recruiting the best out of the large pool of people. While 25% of the employees disagree to the fact and want some changes in the same.

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14. Do you think that the salary offered to candidates at the time of interview to the candidates is according the market rate.

agr 25%

Interpretation: As depicted by the graph most of the employees are not aware of the salary offered to the freshers.



disagr 25%

strongly disagr 6%

strongly agr 2%

cant say 42%

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15. Are you contend with the recruitment process in your organi ation.

cant say 14%

yes 53% no 33%

Interpretation: Almost half of the candidates say they are satisfied while the remaining either disagree or have no specific opinion about it.

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RECOMMENDATIONS
My analysis of the recruitment and selection processes at Future Generali discovered that:
y

The recruitment process at Future Generali is according to the policy of the company. The entire process works in accordance to the policy.

The recruitment process at Future Generali which is basically the procedure to generate the pool of perspective employees, is same at all entry level positions. But the selection procedure is unique for all positions.

The human resources department maintains the estimate of personal in each department and is in charge for filling up available positions in all departments in the organization.

The recruitment and selection procedure is centralized and is governed by the HR department at Future Generali head office.

HR Department at Future Generali has tried various sources of recruitment over years and now every position has a unique source of recruitment.

Walk-ins are mostly used as recruitment source at junior level. Future Generali has earned a good name in the country and hence large number of people wants to be a part of this organization. But the hiring/applicants ratio is still low as a lot of unsuitable candidates also come up for interview. This leads to waste of time and efforts.

Recruitment and selection process at Future Generali can be immensely improved with the advices mentioned below and can develop new sources of recruitment for selecting the best suited candidates.

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LIMITATIONS OF THE PROJECT

y

As the project duration was limited a comprehensive and elaborate survey was not conducted.

y y

6 week time was too less to analyze the whole process very carefully. As the time was less only a small sample was considered which does not give the actual reflection of the process

Even the personal biases of the responding personals may have affected their response.

Also the Company is not sharing much internal information on internet and is also not ready to give.

May be due to of very busy schedule of employees many of them might not have taken appropriate judgment at the time of filling the questionnaire

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LEARNING
y

According to my analysis Campus placements should be used as a source of recruitment in future generali. Company mainly focuses on internal sources having their own limitations. By using Campus Placements Company will be able to attract qualified personnel for available positions in the organization. It can also facilitate the incorporation of fresh ideas into the company which in turn will improve the overall working of the firm.

For the selection of the candidate for a vacant position HR Department should first conduct written test and on the basis of test score result interview should be scheduled for the candidates who clear the test .

Company should examine the candidates on all the factors like experience, family background and qualification but more weight should be given to the experience and then qualification should be considered.

y y y

Company should include physical examination in the selection process. Company should also include intelligence test in the selection process. Certain changes should be made in Recruitment and Selection policies of the company as it sometimes restrict for the selection of talented candidates.

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REFFERENCES

BOOKS:

Recruiting, Interviewing, Selecting & Orienting New Employees by Diane Arthur Human resource management by stephen p robbins Recruiting & Retaining Top Employees by Alan J. Dubinsky & Steven Skinne. Organizational behaviour by Robbins

INTERNET SOURCES:

wikipedia.com futuregenerali.in kumc.edu.com hr.uchicago.com knol.google.com

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QUESTIONAIRE
1. Is formal process of recruitment followed by your company? a) Yes b) No

2. On what basis new employees are hired in your company a) Immediate need b) yearly basis c)Both 3. What recruitment sources should be followed by your company? a) Promotion / Transfer c) Campus Placements e) Any Other b) Consultancy d) References

4 In your opinion which criteria is effective for selection process? a) Written test b) Personal Interview

c) Written test and Interview d)Any Other

5. Do you think, 3 rounds of interview in Future Generali are required for an effective recruitment process. . a) Strongly agree d) Disagree b) Agree e) Strongly disagree c)Cant say

6.Is your profile the same as described to you during the interview ? a) Yes b) No

7. According to you on what basis candidates should be evaluated for selection? a) Academic Qualification c) Family Background b) experience d)all three

8. Do you think physical examination should be one of the criterion of selection? a) Yes b) No
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9. Should intelligence test be implemented as a part of recruitment? a) Yes b) No

10) Should female candidates be given preference at the time of selection ? a) Yes b) No

11) Are you satisfied with the overall recruitment & selection process of your company ? a) Satisfied b) Neutral c) Dissatisfied 10. Which of the following factors mentioned below you think have beneficial effect upon the ability of Future Generali to attract & retain good employees? a) Salary Package c) Career Growth e) Any Other.. 11. Is overall recruitment & selection process of your company satisfactory? a) Strongly agree d) Disagree b) Agree e) Strongly disagree c)Cant say

12. Which of the below mentioned factors according to you have a beneficial effect upon the ability of Future Generali to appoint and retain good employees? a) Career Growth c) Brand Name b)Salary Package d) Work Enviornment

13. Is the recruitment department of your company is efficient enough? a) Strongly agree d) Disagree b) Agree e) strongly disagree c) Cant say

14. Do you think that the salary offered to candidates at the time of interview to the candidates is according the market rate. a) Strongly agree d) Disagree b) Agree e) strongly disagree c) Cant say

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15) Are you contend with the recruitment process in your organization ? a) Yes c) cant say b) No

16) Recommendations (if any, to improve the Selection and Recruitment Process) ______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________

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