axis bank
TRANSCRIPT
A
Project Report
on
“RECRUITMENT AND SELECTION PROCESS
OF AXIS BANK”
Submitted in Partial Fulfillment for the
Award of Degree of
Master of Business Administration
Submitted By:
Ankita Bhargava
M.B.A-2nd Year
IIIM, Jaipur
IIIM, Jaipur
(2010-2012)
DECLARATION
I hereby declare that all the information that has been collected, analyzed and
documented for the project is authentic possession of us.
I would like to categorically mention that the work here has neither been
purchased nor acquired by any other unfair means. However, for the purpose
of the project, information already compiled in many sources has been
utilized.
CERTIFICATE
We hereby certify that content presented in the project entitled
“RECRUITMENT AND SELECTION PROCESS OF AXIS BANK” in
the partial fulfillment of the requirement for the award of the degree of
MASTER OF BUSINESS ADMINISTRATION from IIIM, Jaipur is an
authentic record of our own work, carried out . The matter embodied in the
project has not been copied from any sources.
PLACE- Jaipur Ankita Bhargava
ACKNOWLEDGEMENT
Perseverance, inspiration and motivation have always played a key role in the
success of any venture. A successful and satisfactory completion of any
project is the outcome of the invaluable aggregate contribution of different
persons fully in radical direction, explicitly or implicitly.
Whereas vast, varied and valuable reading efforts leads to substantial
acquisition of knowledge via books and allied information sources. True
expertise excludes from collateral practical works and experiences.
Words have never seemed as inadequate as now, when we are endeavoring to
express our heartfelt gratitude at the culmination of the project, to all those
made it possible. Even the best effort is waste without proper guidance and
advice.
Last but not the least; we are grateful to God, our Parents, Elders and Friends
for encouraging me to take up this challenging task.
PREFACE
The primary objective of this report is to provide the insight into the core of
RECRUITMENT AND SELECTION PROCESS OF AXIS BANK and an
understanding Banking Policy& its importance in relation to Indian Banking
Industry.
We hope that the report has made the text interesting and lucid. In writing this
report, we have benefited immensely by referring to many publications and
articles. We express my gratitude to all such authors and publishers.
Any suggestions to improve this report in contents or in style are always
welcome and will be appreciated and acknowledged.
ABSTRACT
AXIS Bank’s mission is to be a World-Class Indian Bank. The objective is to
build sound customer franchises across distinct businesses so as to be the
preferred provider of banking services for target retail and wholesale
customer segments, and to achieve healthy growth in profitability, consistent
with the bank’s risk appetite. The bank is committed to maintain the highest
level of ethical standards, professional integrity, corporate governance and
regulatory compliance. AXIS Bank’s business philosophy is based on four
core values - Operational Excellence, Customer Focus, Product Leadership
and People.
AXIS Bank deals with three key business segments – Wholesale Banking
Services, Retail Banking Services, Treasury. It has entered the banking
consortia of over 50 corporates for providing working capital finance, trade
services, corporate finance and merchant banking. It is also providing
sophisticated product structures in areas of foreign exchange and derivatives,
money markets and debt trading and equity research.
AXIS’s “Human Resource Management function that helps managers recruit,
select, train and develop members for an organization. Obviously, HRM is
concerned with the people’s dimension in organizations.
TOPIC: SELECTION AND RECRUITMENT PROCESS OF AXIS
BANK
TABLE OF CONTENTS
S.NO TOPIC PAGE NO.
1. History of Banking 1
2. Banking Structure in india 2
3. Indian Banking system 3
4. Indian banking Industry Analysis 4
5. Objective of the study 6
6. Introduction 7
7. Management of AXIS bank 11
8. Milestone 12
9. Human Resource Department 17
12. Responsibilities of HR Department 18
13. Recruitment 19
14. Recruitment and Selection process 20
15. Findings 35
16. Recommendations 36
17. Suggestions 37
18. Conclusion 38
19. Refrences 39
HISTORY OF BANKING
Banking is nearly as old as civilization. The history of banking could be said to have
started with the appearance of money. The first record of minted metal coins was in
Mesopotamia in about 2500B.C. the first European banknotes, which was handwritten
appeared in1661, in Sweden. cheque and printed paper money appeared in the 1700’s and
1800’s, with many banks created to deal with increasing trade.
The history of banking in each country runs in lines with the development of trade and
industry, and with the level of political confidence and stability. The ancient Romans
developed an advanced banking system to serve their vast trade network, which extended
throughout Europe, Asia and Africa.
Modern banking began in Venice. The word bank comes from the Italian word “ban co”,
meaning bench, because moneylenders worked on benches in market places. The bank of
Venice was established in 1171 to help the government raise finance for a war.
At the same time, in England merchant started to ask goldsmiths to hold gold and silver in
their safes in return for a fee. Receipts given to the Merchant were sometimes used to buy
or sell, with the metal itself staying under lock and key. The goldsmith realized that they
could lend out some of the gold and silver that they had and charge interest, as not all of
the merchants would ask for the gold and silver back at the same time. Eventually, instead
of charging the merchants, the goldsmiths paid them to deposit their gold and silver.
The bank of England was formed in 1694 to borrow money from the public for the
government to finance the war of Augsburg against France. By 1709, goldsmith were
using bank of England notes of their own receipts.
New technology transformed the banking industry in the 1900’s round the world, banks
merged into larger and fewer groups and expanded into other country.
BANKING STRUCTURE IN INDIA:
In today’s dynamic world banks are inevitable for the development of a country. Banks
play a pivotal role in enhancing each and every sector. They have helped bring a draw of
development on the world’s horizon and developing country like India is no exception.
Banks fulfills the role of a financial intermediary. This means that it acts as a vehicle for
moving finance from those who have surplus money to (however temporarily) those who
have deficit. In everyday branch terms the banks channel funds from depositors whose ac-
counts are in credit to borrowers who are in debit.
Without the intermediary of the banks both their depositors and their borrowers would
have to contact each other directly. This can and does happen of course. This is what has
lead to the very foundation of financial institution like banks.
Before few decades there existed some influential people who used to land money. But a
substantially high rate of interest was charged which made borrowing of money out of the
reach of the majority of the people so there arose a need for a financial intermediate.
The Bank have developed their roles to such an extent that a direct contact between the de-
positors and borrowers in now known as disintermediation.
Banking industry has always revolved around the traditional function of taking deposits,
money transfer and making advances. Those three are closely related to each other, the
objective being to lend money, which is the profitable activity of the three. Taking deposits
generates funds for lending and money transfer services are necessary for the attention of
deposits. The Bank have introduced progressively more sophisticated versions of these
services and have diversified introduction in numerable areas of activity not directly
relating to this traditionaltrinity
Foreign
Public Sector Banks
Non-Schedule Banks
Reserve Bank of India
Schedule Banks
State co-op Banks Commercial Banks Central co-op Banks and Primary Cr. SocietiesCommercial Banks
Indian
Private Sector Banks AXIS, ICICI etc.
State Bank of India and its Subsidiaries Other Nationalized Banks Regional Rural Banks
INDIAN BANKING SYSTEM
INDIAN BANKING INDUSTRY ANALYSIS:
The banking scenario in India has been changing at fast pace from being just the
borrowers and lenders traditionally, the focus has shifted to more differentiated and
customized product/service provider from regulation to liberalization in the year 1991,
from planned economy to market.
Economy, from licensing to integration with Global Economics, the changes have been
swift. All most all the sector operating in the economy was affected and banking sector is
no exception to this. Thus the whole of the banking system in the country has undergone a
radical change. Let us see how banking has evolved in the past 57 years of independence.
After independence in 1947 and proclamation in 1950 the country set about drawing its
road map for the future public ownership of banks was seen inevitable and SBI was
created in 1955 to spearhead the expansion of banking into rural India and speed up the
process of magnetization.
Political compulsion’s brought about nationalization of bank in 1969 and lobbying by
bank employees and their unions added to the list of nationalized banks a few years later.
Slowly the unions grew in strength, while bank management stagnated. The casualty was
to the customer service declined, complaints increased and bank management was unable
to item the rot.
In the meantime, technology was becoming a global phenomenon lacking a vision of the
future and the banks erred badly in opposing the technology up gradation of banks. They
mistakenly believed the technology would lead to retrenchment and eventually the
marginalization of unions.
The problem faced by the banking industry soon surfaced in their balance sheets. But the
prevailing accounting practices unable banks to dodge the issue.
The rules of the game under which banks operated changed in 1993. Norms or income
Recognition, Assets classification and loan loss provisioning were put in place and capital
adequacy ratio become mandatory. The cumulative impact of all these changes has been
on the concept of state ownership in banks. It is increasingly becoming clear that the state
ownership in bank is no longer sustainable.
The amendment of banking regulation act in 1993 saw the entry of new private sector
banks and foreign banks.
MAJOR PLAYER IN INDIA
1. AXIS BANK LTD
2. ICICI BANK LTD
3. STATE BANK OF INDIA LTD
4. PUNJAB NATOINAL BANK LTD
5. BANK OF BARODA LTD
6. FEDERAL BANK LTD
7. HDFC BANK LTD
8. ING VYSYA BANK LTD
9. IDBI BANK LTD
10. INDUSIND BANK LTD
11. YES BANK LTD
OBJECTIVES OF THE STUDY
PRIMARY OBJECTIVE:
To find the Recruitment and Selection System in the organization.
To study the process of intake of employees with relation to Experience.
Communication skills and Qualification in the organization.
METHODOLOGY:
In this we have used both of the primary and secondary data . In primary data we had
conducted Personal Interview with the Branch Manager of AXIS Bank, Rajouri Garden
Branch regarding SELECTION AND RECRUITMENT PROCESS OF AXIS BANK.
INTRODUCTION
Commercial banking services which includes merchant banking, direct finance
infrastructure finance, venture capital fund, advisory, trusteeship, forex, treasury and other
related financial services. As on 31-Mar-2012, the Group has 827 branches, extension
counters and 3,595 automated teller machines (ATMs).
Axis Bank was the first of the new private banks to have begun operations in 1994, after
the Government of India allowed new private banks to be established. The Bank was
promoted jointly by the Administrator of the specified undertaking of the Unit Trust of
India (UTI - I), Life Insurance Corporation of India (LIC) and General Insurance
Corporation of India (GIC) and other four PSU insurance companies, i.e. National
Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental
Insurance Company Ltd. and United India Insurance Company Ltd. The Bank today is
capitalized to the extent of Rs. 359.76 crores with the public holding (other than
promoters) at 57.79%.The Bank’s Registered Office is at Ahmedabad and its Central
Office is located at Mumbai. The Bank has a very wide network of more than 853
branches and Extension Counters (as on 30th June 2012). The Bank has a network of over
3723 ATMs (as on 30th June 2012) providing 24 hrs a day banking convenience to its
customers. This is one of the largest ATM networks in the country. The Bank has
strengths in both retail and corporate banking and is committed to adopting the best
industry practices internationally in order to achieve excellence.
History of Axis bank:
1993: The Bank was incorporated on 3rd December and Certificate of business on 14th
December. The Bank transacts banking business of all description. UTI Bank Ltd. was
promoted by Unit Trust of India, Life Insurance Corporation of India, General Insurance
Corporation of India and its four subsidiaries. The bank was the first private sector bank to
get a license under the new guidelines issued by the RBI.
1997: The Bank obtained license to act as Depository Participant with NSDL and applied
for registration with SEBI to act as ‘Trustee to Debenture Holders’. Rupees 100 crores was
contributed by UTI, the rest from LIC Rs 7.5 crores, GIC and its four subsidiaries Rs 1.5
crores each.
1998: The Bank has 28 branches in urban and semi urban areas as on 31st July. All the
branches are fully computerized and networked through VSAT. ATM services are
available in 27 branches. The Bank came out with a public issue of 1,50,00,000 No. of
equity shares of Rs 10 each at a premium of Rs 11 per share aggregating to Rs 31.50
crores and Offer for sale of 2,00,00,000 No. of equity shares for cash at a price of Rs 21
per share. Out of the public issue 2,20,000 shares were reserved for allotment on
preferential basis to employees of UTI Bank. Balance of 3,47,80,000 shares were offered
to the public. The company offers ATM cards, using which account-holders can withdraw
money from any of the bank’s ATMs across the country which is inter-connected by
VSAT. UTI Bank has launched a new retail product with operational flexibility for its
customers. UTI Bank will sign a co-brand agreement with the market, leader, Citibank NA
for entering into the highly promising credit card business. UTI Bank promoted by India’s
pioneer mutual fund Unit Trust of India along with LIC, GIC and its four subsidiaries.
1999: UTI Bank and Citibank have launched an international co-branded Credit card. UTI
Bank and Citibank have come together to launch an international co-branded credit card
under the MasterCard umbrella. UTI Bank Ltd has inaugurated an offsite ATM at Ashok
Nagar here, taking the total number of its offsite ATMs to 13.m
2000: The Bank has announced the launch of Tele-Depository Services for Its depository
clients. UTI Bank has launch of ‘iConnect’, its Internet banking Product. UTI Bank has
signed a memorandum of understanding with equitymaster.com for e-broking activities of
the site. Infinity.com financial Securities Ltd., an e-broking outfit is Typing up with UTI
Bank for a banking interface. Geojit Securities Ltd, the first company to start online
trading services, has signed a MoU with UTI Bank to enable investors to buy\sell demat
stocks through the company’s website. India bulls have signed a memorandum of
understanding with UTI Bank. UTI Bank has entered into an agreement with Stock
Holding Corporation of India for providing loans against shares to SCHCIL’s customers
and funding investors in public and rights issues. ICRA has upgraded the rating UTI
Bank’s Rs 500 crore certificate of deposit programmed to A1+. UTI Bank has tied up with
L&T Trade.com for providing customized online trading solution for brokers.
2001: UTI Bank launched a private placement of non-convertible debentures to rise up to
Rs 75 crores. UTI Bank has opened two offsite ATMs and one extension counter with an
ATM in Mangalore, taking its total number of ATMs across the country to 355. UTI Bank
has recorded a 62 per cent rise in net profit for the quarter ended September 30, 2001, at
Rs 30.95 crore. For the second quarter ended September 30, 2000, the net profit was Rs
19.08 crore. The total income of the bank during the quarter was up 53 per cent at Rs
366.25 crore.
2002: UTI Bank Ltd has informed BSE that Shri B R Barwale has resigned as a Director
of the Bank w.e.f. January 02, 2002. A C Shah, formerchairman of Bank of Baroda, also
retired from the bank’s board in the third quarter of last year. His place continues to be
vacant. M Damodaran took over as the director of the board after taking in the reins of
UTI. B S Pandit has also joined the bank’s board subsequent to the retirement of K G
Vassal. UTI Bank Ltd has informed that Shri Paul Fletcher has been appointed as an
Additional Director Nominee of CDC Financial Service (Mauritius) Ltd of the Bank.And
Shri Donald Peck has been appointed as an Additional Director (nominee of South Asia
Regional Fund) of the Bank. UTI Bank Ltd has informed that on laying down the office of
Chairman of LIC on being appointed as Chairman of SEBI, Shri G N Bajpai, Nominee
Director of LIC has resigned as a Director of the Bank.
2002: B Paranjpe & Abid Hussain cease to be the Directors of UTI Bank.UTI Bank Ltd
has informed that in the meeting of the Board of Directors following decisions were taken:
Mr Yash Mahajan, Vice Chairman and Managing Director of Punjab Tractors Ltd were
appointed as an Additional Director with immediate effect. Mr N C Singhal former Vice
Chairman and Managing Director of SCICI was appointed as an Additional Director with
immediate effect. ABN Amro, UTI Bank in pact to share ATM. UTI Bank Ltd has
informed BSE that a meeting of the Board of Directors of the Bank is scheduled to be held
on October 24, 2002 to consider and take on record the unaudited half yearly/quarterly
financial results of the Bank for the half year/Quarter ended September 30, 2002. UTI
Bank Ltd has informed that Shri J M Trivedi has been appointed as an alternate director to
Shri Donald Peck with effect from November 2, 2002.
2003: UTI Bank Ltd has informed BSE that at the meeting of the Board of Directors of the
company held on January 16, 2003, Shri R N Bharadwaj, Managing Director of LIC has
been appointed as an Additional Director of the Bank with immediate effect.- UTI Bank,
the private sector bank has opened a branch at Nellore. The bank’s Chairman and
Managing Director, Dr P.J. Nayak, inaugurating the bank branch at GT Road on May 26.
Speaking on the occasion, Dr Nayak said. This marks another step towards the extensive
customer banking focus that we are providing across the country and reinforces our
commitment to bring superior banking services, marked by convenience and closeness to
customers. -UTI Bank Ltd. has informed the Exchange that at its meeting held on June 25,
2003 the BOD have decided the following: 1) To appoint Mr. A T Pannir Selvam, former
CMD of Union Bank of India and Prof. Jayanth Varma of the Indian Institute of
Management, Ahmedabad as additional directors of the Bank with immediate effect.
Further, Mr. Pannir Selvam will be the nominee director of the Administrator of the
specified undertaking of the Unit Trust of India (UTI-I) and Mr. Jayanth Varma will be an
Independent Director. 2) To issue Non-Convertible Unsecured Redeemable Debentures up
to Rs.100 crs, in one or more tranches as the Bank’s Tier - II capital. -UTI has been
authorized to launch 16 ATMs on the Western Railway Stations of Mumbai Division. -
UTI filed suit against financial institutions IFCI Ltd in the debt recovery tribunal at
Mumbai to recover Rs.85cr in dues. -UTI bank made an entry to the Food Credit
Programme; it has made an entry into the 59 cluster which includes private sector, public
sector, old private sector and co-operative banks. -Shri Ajeet Prasad, Nominee of UTI has
resigned as the director of the bank. -Banks Chairman and MD Dr. P. J. Nayak
inaugurated a new branch at Nellore.-UTI bank allots shares under Employee Stock
Option Scheme to its employees. -Unveils pre-paid travel card ‘Visa Electron Travel
Currency Card’ -Allotment of 58923 equity shares of Rs 10 each under ESOP. -UTI Bank
ties up with UK govt fund for contract farm in -Shri B S Pandit, nominee of the
Administrator of the Specified Undertaking of the Unit Trust of India (UTI-I) has resigned
as a director from the Bank wef November 12, 2003. -UTI Bank unveils new ATM in
Sikkim.
2004: Comes out with Rs. 500 mn Unsecured Redeemable Non-Convertible Debenture
Issue, issue fully subscribed -UTI Bank Ltd has informed that Shri Ajeet Prasad, Nominee
of the Administrator of the Specified Undertaking of the Unit Trust of India (UTI - I) has
been appointed as an Additional Director of the Bank w. e. f. January 20, 2004.-UTI Bank
opens new branch in Udupi-UTI Bank, Geojit in pact for trading platform in Qatar -UTI
Bank ties up with Shriram Group Cos -Unveils premium payment facility through ATMs
applicable to LIC UTI Bank customers –Metal junction (MJ)- the online trading and
procurement joint venture of Tata Steel and Steel Authority of India (SAIL)- has roped in
UTI Bank to start off own equipment for Tata Steel. -DIEBOLD Systems Private Ltd, a
wholly owned subsidiary of Diebold Incorporated, has secured a major contract for the
supply of ATMs an services to UTI Bank -HSBC completes acquisition of 14.6% stake in
UTI Bank for .6 m -UTI Bank installs ATM in Thiruvananthapuram -Launches
Remittance Card in association with Remit2India, a Web site offering money transfer
services
2005: - UTI Bank enters into a banc assurance partnership with Bajaj Allianz General for
selling general insurance products through its branch network. -UTI Bank launches its first
Satellite Retail Assets Centre (SRAC) in Karnataka at Mangalore.
2006: -UBL sets up branch in Jaipur -UTI Bank unveils priority banking lounge.
Management of Axis bank
Promoters: Axis Bank Ltd. has been promoted by the largest and the best Financial
Institution of the country, UTI. The Bank was set up with a capital of Rs. 115 crore, with
UTI contributing Rs. 100 Crore, LIC - Rs. 7.5 Crore and GIC and its four subsidiaries
contributing Rs. 1.5 Crore each SUUTI - Shareholding 27.02%Erstwhile Unit Trust of
India was set up as a body corporate under the UTI Act, 1963, with a view to encourage
savings and investment. In December 2002, the UTI Act, 1963 was repealed with the
passage of Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 by the
Parliament, paving the way for the bifurcation of UTI into 2 entities, UTI-I and UTI-II
with effect from 1st February 2003. In accordance with the Act, the Undertaking specified
as UTI I has been transferred and vested in the Administrator of the Specified Undertaking
of the Unit Trust of India (SUUTI), who manages assured return schemes along with
6.75% US-64 Bonds, 6.60% ARS Bonds with a Unit Capital of over Rs. 14167.59 crores.
The Government of India has currently appointed Shri K. N. Prithviraj as the
Administrator of the Specified undertaking of UTI, to look after and administer the
schemes under UTI where Government has continuing obligations and commitments to
the investors, which it will uphold.
MILESTONE
Mar-08 Axis Bank launches Platinum Credit Card, India’s first EMV chip
based card
Dec-07 Axis Bank gets AAA National Long-Term Rating from Fitch Ratings
Sept-07 Axis Bank ties up with Banque Privée Edmond de Rothschild Europe
for Wealth Management
July-07 UTI Bank re-brands itself as Axis Bank
July-07 UTI Bank successfully raises USD 1050 million
July-07 UTI Bank ties up with Tata Motors Ltd. for Car Loans
June-07 UTI Bank’s expansion into Asia supported by FRS
May-07 UTI Bank launches ‘Spice Rewards’ on the bankcards - India’s first-
ever merchant-supported rewards program
April-07 UTI Bank opens a Financial Services Category I Branch in the DIFC
in Dubai
Mar-07 UTI Bank ties up with Hyundai Motor India Ltd. for Car Loans
Mar-07 UTI Bank ties up with IIFCL to provide finance for infrastructural
projects in the country
Mar-07 UTI Bank launches Car Loans in association with Maruti Udyog Ltd
Mar-07 UTI Bank opens a Full License Bank Branch in Hong Kong
Feb-07 Finance Minister Shri P. Chidambaram Launches Shriram - UTI Bank
Co - Branded Credit Card Exclusively For Small Road Transport
Operators (SRTOS)
Feb-07 UTI Bank announces the launch of its Meal Card
Feb-07 UTI Bank announces the launch of its Gift Card
Feb-07 LIC Premium payment now through UTI Bank Branches
Jan-07 UTI bank opens Priority Banking branch in Mumbai and Kolkata
Nov-06 UTI Bank opens Priority Banking Lounge in Pune
Sep-06 UTI Bank launches operations of UBL Sales, its Sales Subsidiary -
Inaugurates its first office in Bangalore
Aug-06 UTI Bank announces the launch of its Credit Card Business
Aug-06 UTI Bank becomes the first Indian Bank to successfully issue Foreign
Currency Hybrid Capital in the International Market
Aug-06 UTI Bank Business Gold Debit Card MasterCard Launched -
Designed for business related spending by SMEs and self employed
professionals
Aug-06 UTI Bank announces the scheme of issuance of "Senior Citizen ID
Card" in association with Dignity Foundation
Aug-06 UTI Bank rolls out its 2000th ATM
July-06 UTI Bank opens Representative Office in Shanghai
May-06 UTI Bank and LIC join hands to launch an Annuity Card for group
pensioners of LIC
May-06 UTI Bank ties up with Geojit Financial Services to offer Online
Trading service to its customers
Apr-06 UTI Bank opens its first international branch in Singapore
Jan-06 UTI Bank and UTI Mutual Fund to launch a new service for sale and
redemption of mutual fund schemes through the Bank’s ATMs across
the country
Dec-05 UTI Bank wins International Financing Review (IFR) Asia ‘India
Bond House’ award for the year 2005
Oct-05 UTI Bank extends banking services to the rural milk producers in
Anand and Kheda districts in Gujarat
July-05 UTI Bank and Visa International launch Mobile Refill facility -
Anytime, Anywhere Pre-Paid Mobile Refill for all Visa Cardholders in
India
May-05 UTI Bank and Bajaj Allianz join hands to distribute general insurance
products
Apr-05 UTI Bank launches Smart Privilege - a special bank account designed
for women
Mar-05 MTNL ties up with UTI Bank for payment of telephone bills through
the Bank’s ATM network
Mar-05 UTI Bank gets listed on the London Stock Exchange, raises US$
239.30 million through Global
Mar-05 Depositary Receipts (GDRs)
Feb-05 UTI Bank appointed by Government of Karnataka as the sole banker
for the Bangalore One (B1) project
Feb-05 UTI Bank launches a powerful version of Kisan Credit Card
Jan-05 UTI Bank ties up with Remit2India to launch the Remittance Card
Mar-04 UTI Bank enables premium payment of LIC policies through its
ATMs.
Feb-04 Bilateral arrangement between State Bank of India (and its 7 associate
member banks) and UTI Bank. comes into force with the
commencement of operations (as on 3rd February ‘04) of the
combined network of over 4000 ATMs
Feb-04 UTI Bank (by pursuing a proactive strategy of forging bilateral
agreements and being a progressive player in the multi-lateral
consortiums for shared ATM network) offers its customers access to
over 7000 ATMs across the country - the largest to be offered by any
bank in India so far.
Dec-03 Bank inaugurated its ATM at Thegu near the Nathula Pass in Sikkim.
This ATM is at the highest altitude in India.
Sep-03 The Bank’s ATMs across the country crosses the thousand mark
Sep-03 Bank launches the Travel Currency Card.
Aug-03 The Bank’s Debit Card crosses the one million mark.
Aug-03 Total Advances cross Rs 7,000 Crore.
May-03 Bank declares a net profit of Rs 192.18 crores for FY03, a growth of
43% over the previous year
Mar-03 Bank signs Agreement with Employees Provident Fund Organization
(EPFO) for disbursement of Pension
Mar-03 Bank crosses the 800 ATM mark
Mar-03 The Bank issues 3,83,62,834 fully paid up equity shares totaling to Rs.
164.00 crores, through a
Mar-03 Preferential offer to Life Insurance Corporation of India (now
constituting 13.54% of
Mar-03 the Bank’s expanded equity), Citicorp Banking Corporation, Bahrain
(holding 3.84%), Chris Capital I,
Mar-03 LLC, Mauritius (holding 3.84%) and Karur Vysya Bank Ltd.
(constituting 1.00%) The Bank also
Mar-03 Increases the authorized share capital of the Bank from Rs. 230 crores
to Rs. 300 crores.
Feb-03 Bank, in a pioneering move, launches the AT PAR Cheque facility,
free of cost, for all its Savings Bank customers.
Feb-03 Bank wins mandate to set up 14 ATMs at the Western Railway
stations along the Mumbai division.
Oct-02 Bank launches Corporate iConnect? - the Internet Banking facility for
Corporate
Aug-02 Bank signs MoU with BSNL regarding bill collection services across
the country through both online and offline channels.
Apr-02 Bank opens its 500th ATM
Mar-02 Deposits Cross Rs.12, 000 Crore
Jan-02 The Bank’s 100th branch opens at Tuticorin, Tamilnadu
Jan-02 The Bank opens an ATM at the Gol Dak-Khana, i.e. the New Delhi
GPO, making it the first instance of a commercial bank setting up an
ATM at any post-office in the country.
Dec-01 Total Advances cross Rs 5,000 Crore
Nov-01 The deposit base for the Bank crosses Rs. 10,000 Crore
Sep-01 Private placement of 26% stake in the Bank to CDC Capital Partners.
UTI holding reduces to 44.88%
Aug-01 Bank signs MoU with India Post for introducing value added financial
products and services to customers of both organizations, including
setting up of UTI Bank ATMs in post offices.
July-01 Bank ties up with Govt of Andhra Pradesh for collection of
commercial tax
Dec-00 Bank opens its 200th ATM. It becomes the 2nd largest ATM network
in the country, a position held even today.
Oct-00 Bank becomes fully networked
July-00 E-commerce initiatives announced
July-00 Financial Advisory Services offered beginning with marketing of US
64
Apr-00 UTI Bank calls off its proposed merger with Global Trust Bank and
surges ahead on its own.
Apr-00 Bank launches its Internet banking module, iConnect Retail loans
introduced for the first time by the Bank
Mar-00 Profits cross Rs 50 crore mark for the first time.
Feb-00 Bank adopts Finacle software from Infosys for core banking
Jan-00 Dr.P.J Nayak takes over as Chairman and Managing Director from
Shri Supriya Gupta.
Sep-99 Cash management services (CMS) launched, Co branded credit card
launched
Mar-99 Deposits cross Rs.3000 crores
Sep-98 UTI Bank goes public with a Rs. 71 crore public issue; Issue over-
subscribed 1.2 times, over 1 lakh retail investors. UTI holding reduces
to 60.85%
Jun-96 Crosses Rs.1000 crore deposit mark
Mar-95 Completes first profitable year in operation
Apr-94 First branch of UTI Bank inaugurated at Ahmedabad by Dr.
Manmohan Singh, Hon’ble Finance Minister, Government of India.
Dec-93 UTI Bank comes into being
Dec-93 Registered office at Ahmedabad; Head office at Mumbai
HUMAN RESOURCE DEPARTMENT
“Human Resource Management function that helps managers recruit, select, train and
develop members for an organization. Obviously, HRM is concerned with the people’s
dimension in organizations.
Work force of an Organization is one of the most important inputs of components. It is
said that people are our single most important assets. Because of the unique importance of
HUMAN RESOURCE and its complexity due to ever changing psychology, behavior and
attitudes of men and women at work, in all business concerns, there is one common
element. I.e. Human personnel function, i.e., manpower management function is becoming
increasingly specialized. The personnel function or system can be broadly defined as the
management of people at work- management of managers and management of workers.
Personnel function is particularly interested in personnel relationship and interaction of
employees-human relations.
In a sense, management is personnel administration. Management is the development of
people, and not mere direction of material resources. Human capital is the greatest asset
of a business enterprise. The essential ingredient of management is the leadership and
direction of people. Each manager of people has to be his own personnel man. Personnel
management is not something you really turn over to personnel department staff.
Responsibilities of Human Resource Department.
HRD maintain daily attendance record through branch manager via E-mail.
Take decisions for approval regarding leave notes.
He takes the decision related to the recruitment, selection and training of the
candidates. He talks to the consultant related to the recruitment of the qualified
candidates. He also does screening of the candidates, shortlist the candidate
and takes the first round of the interview.
He maintains the database of the candidates to come for an interview. He also
maintains personal file of each employee. He also completes the joining
formalities of each new employee.
They are taking surprising visit in every branch and collect information about
employees.
He is responsible for the monthly salary of the employees as per their
attendants and passing to the Branch Manager.
Human Resource planning
This is handled by doing the planning at the beginning of every year. At the end of the
year, the Human Resource department from each Branch receives the requirement for the
person for whole year. Then the planning of recruitment and training is done by training
manager and recruiting manager which is approved from Head of HR Department.
RECRUITMENT
Recruitment is a process of searching for prospective candidates for the given job in the
industry. As we know it is very important for an industrial concerns to have efficient and
effective personnel with right quality and at right time and at right place available
whenever they are needed. Every organization needs employee time by time because of
promotion or retirement of an employee. For this purpose an organization need to search
for the right candidate. And so it needs to encourage this type of right candidates whenever
they require.
Sources of Recruitment
Personal data of candidates and data bank maintain by the HR. department.
Campus Recruitment.
Company’s own website.
Placement consultants.
Advertisement in the news papers like Times of India, Gujarat Samachar.
Employee reference.
Recruitment Process
Selection
Selection is the process of taking individuals out of the pool of job applicants
with requisite qualifications and competence to fill jobs in the organization. It
is define as the process of differentiating between applicants in order to
identify and hire those with a greater likelihood of success in a job.
Selection is based on probation base, they are taking experienced person for 6
month’s probation and for fresher the probation period is 1 year.
While the selection of the senior level post, is taken by head office at Mumbai.
Applicamt pool
Profile Check
Shortlist Screening Interview
Training and Development
Training aims at increasing the aptitudes, skills and abilities of workers to
perform specific job. It makes employees more effective and skillful. In
present dynamic world of business training is more important there is an ever
present need for training men. So that new and changed techniques may be
adopted. A new and changed technique may be taken as an advantages and
improvement affected in the old methods.
Training is learning experience that seeks relatively permanent change in an
individual that will improve his/her ability to perform on the job.
They provide “on the job” training to their employees in the branch as they
select these employees for selling various products of bank by direct
marketing. Whenever they select new candidates for any post, they use to give
them on the job work.
In case of sales persons to distribute their various products, in the beginning
the person has to work under the observation of his senior then the have to go
in market to have their own experience.
The time for training program for the candidate is depends up on the relevant
position of his work area. They also provide training related to customer care
and communication.
RECRUITMENT AND SELECTION PROCESS
Meaning:
Recruitment and Selection system refers to sourcing and building efficient Human
Resource to the organization to attain its objectives.
Functions:
1. • Retail assets
• Credit cards
• Retail assets
• Retail credit
2. • Retail liabilities
• Direct banking
• Direct sales liabilities
• Foreign exchange services
• Liabilities product group
• Marketing
• Retail branch banking
3. • Support function
• Custody and depository services
• Finance
• Human resources
• Operations
4. • Wholesale banking
• Corporate banking
• Credit and market risk
• Customer service desk
• Emerging corporate group
• Emerging enterprise group
• Equities and private banking
• FIG
• Health care finance
• Investment banking
• NRI businesses
• Stock exchange and correspondent banking
This policy complies with, and supports, the Company’s Equal
Opportunities Policy by:
Ensuring that every stage of the recruitment and selection process is carried out in
a systematic way, based on pre-agreed criteria, to eliminate the potential for
personal bias affecting the decision making process.
Ensuring that all decision points are fully documented to assist with subsequent
monitoring.
Making the whole procedure as open as possible, to ensure that all candidates
understand why decisions have been taken and, where they wish, to obtain
meaningful feedback.
Enabling demonstration of robust, transparent processes and thereby providing a
basis for defense in the event of challenge.
There are seven main stages to the procedure:
Pre-advertisement
Placing advertisements and dealing with enquiries and applicants
Short-listing
Interviewing and selection
Post-selection procedures
Induction
Monitoring
Analyzing Your Workplace:
To assist you analyze your workplace to identify recruitment or selection issues for
women, we suggest you:
Revisit your workforce profile to find where your female employees are.
Consult with your employees.
Examine your existing recruitment and selection policies and practices.
Developing Policy and Procedures
Put in place a policy requiring recruitment and selection processes to select the best
person for the job.
Develop a quality, consistent process for recruitment that delivers diverse recruits.
Have a recruitment strategy that links to your business plan, and to a strategy to
retain employees.
Reviewing Recruitment and Selection Opportunities
Monitor each stage of the recruitment process to identify any practice that may
disadvantage some candidates.
Investigate whether women have equal opportunity in the recruitment and selection
process by collecting information on the numbers of men and women:
Applying for positions
Being short-listed
Being interviewed
Being appointed, and
Survey staff about their perception of equity in recruitment procedures.
Consider collecting diversity information as part of the process. There could be a
pool of diverse candidates you’re not reaching or unnecessarily excluding.
Reviewing Job Descriptions:
Ensure all job profiles/descriptions reflect the real requirements of the job, rather
than describing the person who filled that job previously.
Write job profiles in language that encourages both men and women to apply –
including women of and Differing backgrounds. For example, avoid use of jargon
and acronyms that tend to be exclusive.
Recruiting and selecting the right people is paramount to the success of the AXIS BANK
LTD. and its ability to retain a workforce of the highest quality. This recruitment and
selection policy sets out the procedure to ensure that the best people are recruited on merit
and that are the recruitment process is free from bias and discrimination.
PRINCIPLES:
Following are the guiding principles for recruitment and on-boarding process.
• Attracting and recruiting the right people is one of the most important activities of the
organization and is the responsibility to be owned by each and every employee of the
organization.
• Merit will be the single most important factor in selection process.
• They will ensure a diversity, both gender and ethnicity by targeted candidate sourcing
with the help of recruitment vendors and the referral program.
• While skills and profile matching play an important role, they will hire people who are
team players and have the right attitude most relevant to the culture of the organization.
Attitude is as important as aptitude.
• They believe in becoming a company of giants and emphasis is in hiring people who can
grow bigger and better than they presently are.
• They believe in providing their employee with fulfilling career paths. Towards this, they
will post vacancies internally as a preferred option while evaluating external candidates.
• They believe that each candidate interviewed irrespective of whether she/he is selected
should become a friend of the organization. They treat all the candidates with the utmost
respect. They will be open and fair in communication with them; this way they also
enhance the brand image of the organization.
• They will continuously assess, identify and cultivate strategic talent pools including
those at the universities, management schools, and community forums to address their
long term needs.
HIRING APPROVAL
• All recruitment activities shall be undertaken based on the hiring plan as approved by the
Business Head, HR Head & the CEO. For each approved position, a hiring requisition will
be required prior to initiation of any recruitment activity. If the hiring was not included in
the planned budget, it will also require approval from the CEO based on a
recommendation from the Head HR and the CFO.
• Recruitment expense will be allocated to the concerned business unit, and expenditure
should be budgeted and pre-approved by the business unit head and the HR Head.
CANDIDATE SOURCING:
The hiring manager along with the Human Resource Department would decide the
channel / source to use based on the nature of the recruitment. The following sources of
recruitment may be considered:
• Internal Sources:
Whenever any vacancy arises, the possibility of fulfilling the requirement
internally via reassignment and relocation, re-allocation of the responsibilities or
internal promotion will be explored by the hiring function along with the HR
Department.
Internal job postings to explore internal candidates.
• Employee Referrals – AXIS will encourage employees to refer suitable candidates for
open positions.
• Other external sources include:
Recruitment agencies
External job postings
College / campus requirement
Requirement advertisements
APPLICATION PROCESSING:
AXIS will process all applications promptly and inform the applicant or source regarding
the status of the application. AXIS will respond to all solicited applications within 5
working days of receiving the application.
INTERVIEW PROCESS:
• All candidates are required to undergo a face to face interview with the interview panel
before selection.
• Interviews may be conducted at a place at mutually convenient locations and time in an
effort to maintain confidentiality of the hiring effort.
• One on one meeting shall be preferred as the interview format, however depending on
the constraints panel interviews / telephone / video conference screening could be used.
• For recruitment at junior levels, job fairs, universities etc, where large volume of
candidates, AXIS will use recruitment tests for purpose of short listing. The candidate may
be tested on the basic aptitude, analytical skills or other skills required for the job of the
candidates.
• The interview process will focus on the evaluating the candidates suitability in terms of
the job description and fit within the organization.
• Each interviewer will complete the interview feedback form and submit it to HR. HR
will compile the results from a various interviews and provide these to the line manager
for the final decision.
The following are the guidelines with respect to the interview levels. The line manager
will own the overall interview process:
Position,
Level Equipment Hiring Decision by Interview by Salary Fitment Offer Letter Signed
by
Direct Report CEO Head CEO/ HR Head, Management Team (for relevant functions)
Approval - CEO
Proposal – HR Head CEO
State Head/ Regional Function Heads, Cluster Heads Regional Branch Heads, National
functional Heads Regional Branch Head / National Functional Head, Regional HR
Approval – CEO
Proposal – HR Head HR Head
Branch Manager / National Functional Managers Regional Branch Heads, National
functional Heads Regional Branch Head / National Functional Head, Regional HR,
Cluster / State Head Approval – HR Head
Proposal – C & B Manager HR Head
Senior Relationship Manager Regional Branch Head/ Branch Manager Regional
Branch Head/ Branch Manager, Regional HR Approval – HR Head
Proposal – C & B Manager Staffing Leader
Junior Relationship Manager Branch Manager Branch Manager, Cluster Head
Approval – C&B Manager
Proposal – Regional HR Mgr. Regional HR Manager
For campus / bulk hiring process, each panel will be specifically authorized with respect to
hiring decision, pay by the HR Head & CEO prior to the process.
RECRUITMENT EXPENSES:
• All recruitment expenses including recruitment fees, advertisement expenses and
interview related expenses will be allocated to the concerned business unit.
• The candidate will be informed about the nature of the expenses that are reimbursable
and the supporting documents required (in original). HR will ensure that candidate fills the
necessary reimbursement forms and that he/she receives the reimbursement at the earliest.
• Outstation/International Candidates - AXIS will pay for appropriate air fare and expenses
incurred for the stay for candidates who they decide to fly from other locations. Prior
approval from the Regional HR Leader / HR Head is required to invite candidates. For
candidates from International Locations, prior approval from the HR Head needs to be
taken.
PRE-EMPLOYEMENT CHECK:
This will include both a professional reference check as well as the background check.
• Professional reference check will be completed by the hiring manager. AXIS will request
contact information for 2 references from the candidate, and check the quality of previous
work experience and key personal characteristics/conduct/ previous record etc.
• For key positions in areas, AXIS will also perform a background check to assess the
integrity conduct of the candidate.
• The following information regarding the candidate will be verified:
Proof of educational qualifications
Any professional certificate that is essential to the job
Address details
Passport details
Date of birth
Proof of previous employment (service certificate)
Any negative feedback and comment in the reference check will be investigated by HR
and if found genuine shall be a cause for disqualification of the candidate or dismissal
from employment.
OFFER PROCESS:
• Once the hiring decision is finalized, HR will prepare an offer / fitment as per the
compensation structure and grade and keeping in mind the internal equity.
• The offer would be communicated to the selected candidates by the hiring manager along
with HR. The candidate will sign the contract letter to formally accept employment from
the organization.
PRE-EMPLOYMENT PROCESS:
As an organization, AXIS will make all necessary arrangements to ensure a smooth
joining process for the employees. HR will provide the candidate a check list prior to
joining to ease joining formalities.
RELOCATION FOR EMPLOYMENT:
Where the employee has to relocate and has been pre-approved by the HR Head and the
staffing leader, the relocating candidate shall be eligible for the following relocation
assistance:
The joining employ has the option to avail temporary accommodation (which
includes laundry) for the first two weeks arranged by organization. The stay in
company provided accommodation can be extended by two weeks further based on
specific approval from the Head HR. Where the stay extends beyond 4 weeks, the
respective will not be paid housing allowance for the corresponding period.
Local travel assistance up to positions of RO/RM/equivalent and below will be
reimbursed for one week and for SRM/equivalent and above will be reimbursed up
to two weeks.
Food expenses during the period will be reimbursed as per actual up to Rs 500/-per
day per person.
Approved reasonable expenses incurred in transporting the personal goods
including the transportation /registration of one automobile to the city of work.
Employees are advised to use the designated moving agencies as per rates
negotiated by Administration. Where negotiated rates are not available, the
employee is required to submit 3 quotations and secure approval from
Administration before assigning the contract to a moving firm.
EMPLOYEMENT OF RELATIVES:
The organization employs, purely on merit, the relatives of our employees as long as it
does not create a potential conflict of interest. To avoid a potential conflict of interest and
to reduce the possibilities of favoritism – the following guidelines must be followed:
Relatives are not assigned to a position where he/she has the opportunity to check,
process, and review, approve, audit or otherwise affect the work of the persons
cited and above.
NO one is assigned to a position where she/he influences the professional progress
or promotion of the persons cited above.
If one is aware of a situation that appears to be an opportunity for people to display
favoritism to relatives, one should contact the Department Head or Human
Resources Department.
Employees will not be part of the hiring process of their relatives
DEFINITION OF RELATIVES:
Relatives would include husband, wife, children, parents, sisters, brothers, first cousins,
brothers-in-law, sisters-in-law, mother –in-law, and father-in-law.
Employees who are aware of candidature of their relatives for the organization must
immediately report to the HR function in writing for information and records. Failure to
immediately report such cases will be considered as a serious violation of the recruitment
policy and may entail a disciplinary action.
INTERNSHIP PROGRAM:
As part of university hire program, AXIS will provide internship opportunities to students.
Such internships will provide opportunities to students to learn while making real
contributions to the company. AXIS will follow the following process:
• HR will coordinate with business groups to identify potential opportunities for intern
hires.
• Internship requests could be received either from the students directly or as
nominations from the educational institute.
• HR and hiring manager to tele-interview the candidates with subsequent personal
interviews in the office
• HR to coordinate with the hiring manager to develop the project plan for the hire
Based on the demonstrated capability, the intern will be provided with the opportunity
to work in multiple departments to gain a wider business understanding
INTERNSHIP CRITERIA:
Typically, the intern will be a pre-final year student of the Bachelor or Master
degree programs specializing in Financial Services/IT and any other business
stream as required.
Interns will be expected to manage their won accommodation and it will not be
provided by the company.
Intern will be required to sign the confidentiality and code of conducts documents
of the company.
EMPLOYEE ON-BOARDING – PROCESS:
The overall purpose of the new hire integration process is to ensure that the new employee
is able settle in smoothly and is able to contributing at the earliest.
PRE EMPLOYMENT INDUCTION:
AXIS’s employee induction process shall begin as per the employee accepts the job offer.
The process includes:
Welcome pack: As soon as the candidate accepts the offer, a welcome pack will be
sent to the employee.
o A congratulatory note regarding the decision to join the organization.
o Contact details of a HR representative and the hiring manager.
o A brief company overview document.
Pre-joining checklist: Include details of the documents required from the
employee. In case the employee is relocating from a different location, details of
the relocation process and the visa requirement will be outlined in this checklist.
Expectations on the first day of the joining.
Office resources: HR shall intimate the immediate supervisor the joining date and
immediate supervisor shall work with the IT and administration team to set up the
following 5 days prior to employee joining, the following elements and are in
working order: Email ID, phone, computing resources, work space/office, access
cards, joining kit including bank account opening form, initial reading material.
POST JOINING ORIENTATION AND INDUCTION:
Joining kit: The employee upon joining would be welcomed by the HR
representative and would be given a joining kit that will include: Access card,
information on employee’s email and phone number, Bank account opening form,
corporate insurance application form(if applicable),HR & Admin policy manual,
other relevant reading material ( to be prepared by hiring manager)
Classroom Induction: The employee integration process will also include
classroom training and induction where the employee will receive presentations
and trainings on various topics that would further ingrain the into the organization
On the job training: Besides formal training sessions, the employee will undergo
on-the-job function specific trainings that are facilitated by the respective functions
to help the new employee acquaint himself/herself with work in progress.
PROBATION POLICY:
Probation is a trial that is mutual opportunity for the employee and AXIS to
confirm suitability for continued employment. The probation period is to establish
a stronger understanding of mutual capabilities, expectations and understanding
which may include functional training. The employee must demonstrate suitability
for continued employment.
An assessment will be based on factors related to work performance, work habits,
productivity, attitude and compatibility, attendance and punctuality, and any other
matter that is linked to job performance and expectations.
All new hires will be placed on probation for a period of 6 months from the date of
joining
HR will initiate the confirmation process by sending an appraisal form to the
immediate supervisor before the completion of probationary period. The appraisal
form will need to be approved by the supervisor’s leadership.
All letters of confirmation or extension of probation will be signed by the HR head
and will be stored in employee file for records.
REFERRAL BONUS AMOUNT :
• The Referral Bonus Program is operated under the authority of the Budget and Control
Board’s Employee Bonus Guidelines. Under these guidelines, an employee may receive
multiple bonuses, the total of which may not exceed $2,000 in any fiscal year.
• Referral bonus payments may be paid in a lump sum or in periodic payments until the
new employee has completed his or her probationary period. Payments cannot be made
until the referred candidate has been employed for a minimum of one month. For example,
a $1,000 referral bonus can be structured as follows:
- $250 referral bonus awarded after three months from the hire date,
- $250 referral bonus awarded after six months from the hire date,
- $500 referral bonus awarded at the end of the probationary period.
REFERRAL BONUS PROGRAM ADMINISTRATION :
The Referral Program operates in accordance with the following program requirements:
• Referral bonuses are awarded at the discretion of management with the Agency Director
or his designee having final approval authority.
• Funding for the program must come from existing agency resources.
• The Agency will provide a form for completion and submission by either the applicant or
the referring employee with the applicant’s application indicating that the referring
employee has made the referral.
• The Agency will designate a position as “hard-to-fill” before the position is posted.
• Employees selected for eligible positions must be employed by the agency for at least
one month before a referring employee may be eligible to receive a referral bonus.
Referred candidates cannot be current employees of the hiring agency in any capacity, to
include temporary, temporary grant, research grant, time- limited project, or contract
employees. Both the referring employee and the referred candidate must be employed by
the agency when any referral bonus is paid receive the referral bonus.
• Any disputes arising from the application of this program will be the responsibility of the
Agency Director or his designee to resolve and will not be considered a grievance under
the State Employee Grievance Procedure Act.
• The agency HR Office will monitor the use of the Referral Bonus Program and will
report annually to the Office of Human Resources information on the use of the Referral
Bonus Program.
• The hiring process will be fair and consistent with agency policy and procedures, with no
bias for or against candidates whose selection might make another employee eligible for a
referral bonus.
Amount paid to the employees who refer the candidates and if they get selected varies
from Rs. 7000 to Rs.2000 based on the grade of the employee refereed and the refereed
candidate placed.
This amount is paid to the employees in two ways:
1. Immediately when the candidate is joined
2. After the completion of 3 months of the candidate selected.
Only middle level and senior level management employees have the opportunity of
referring the candidates. This policy/scheme is not applicable to the top management
employees. Also the employees who are under probation or training period are not eligible
for this employee referral policy.
FINDINGS
Recruitment at an officer and managerial level is not done effectively.
Many people in the organization today are in the wrong jobs and as a result, they
are not utilizing their full potential.
Hiring people based on personal connections when the person is not qualified for
the job.
Most recruitment that involves managers is done during discussions at lunch hour,
at social clubs or during the coffee break time.
Inadequate recruitment procedures resulted in a number of staff not being
sufficiently qualified either for the positions they hold or their grades levels,
especially in management positions.
Psychometric test is not conducted during the selection process.
Confusion in the designation and level to the employees even after permanent
status for employment is given.
Proper training is not given to the recruitment team and manager.
Reaching few prospects due to internal recruitment, internet advertising most of
the time.
RECOMMENDATIONS
The organization should provide or set up a communication lab for the benefit of
the fresher and existing employees that makes a career development and new
opportunity to grow up in the organization.
This increases the employee morale and helps to attain the target.
Communication classes should be conducted timely to all employees should be
followed by organization.
Refresher courses may organize intermittently for all employees in the rank and
file category to relive job fatigue and monotony of every day work life. So
employees can gain skills by Communication.
Candidates who enter into the Job Market must make sure that their efficiency in
Communication is up to the expectation of an organization which will make them
to go through the Recruitment and Selection system of Royal Sundaram Alliance
Insurance Company.
The respondents in the corporate exhibits that communication skills are necessary
for all the employees from different channels.
FOS (Fleet on street) Team should be made involved to pass through more
communication classes from language experts.
The company should allot funds to create a communication laboratory for the
beneficiary of all the employees.
SUGGESTIONS
1. Psychometric tests have to be conducted to assessing the personality of the
applicants – will they fit in?
2. Look for different skills as well as the ideas of the candidate at the time of
recruitment and selection process.
3. Adopting adequate recruitment procedures to employ efficient and talented people.
4. Job responsibilities have to be clearly explained to the candidate before the joining
formality is done.
5. Campus recruitments, job fairs may attract more skilled and talented employees
towards the organization.
6. Provide orientation training to all new employees before their initial work
assignments and to all current employees who receive a different task or job.
7. Referral scheme has to be encouraged more at times when the requirement is
urgent.
CONCLUSION
Recruitment is essential to effective Human Resources Management. It is the heart
of the whole HR systems in the organization. The effectiveness of many other HR
activities, such as selection and training depends largely on the quality of new
employees attracted through the recruitment the recruitment process.
Policies should always be reviewed as these are affected by the changing
environment. Management should get specific training on the process of
recruitment to increase their awareness on the dangers of wrong placements.
Effective recruitment is important in achieving high organizational performance
and minimizing labor turnover. As of now AXIS Bank Ltd. has a team of effective
human resource which is efficiently managing the organization at its best. Though
the recruitment process adopted by the organization needs to be improved,
challenges are ahead for the HR Department to recruit people after the effect of
recession.
In the present competitive & dynamic environment, it has become essential for
organization to build and sustainable.
In competitive advantage, the Communication skill set has assumed more
importance than even before. Dynamic and growth-oriented organization
recognizes Communication as an important aspect of the Recruitment and
Selection system for managerial function in a rapidly changing and economic
environment.
Insurance industries should possess a valuable work force with good
communication skill sets to get a good deal or business from their customers. In
this sector the Open Market channel is the main source of revenue for the
company for which they should be able to communicate well with their clients.
Then the company can reach its profitability and objectives easily.
The company should take the suggestions and ideas from the employees and can
conduct and examine the communication skill set within the employees. So that
they can analyze the need and act accordingly for a better result and the growth of
its own and valuable workforce.
REFRENCES
BOOKS REFFERED:
ASWATHAPPA, K. (2010), Human Resource Management
DESSLER, GARY (2011), Human Resource Management
ROBBINS, STEPHEN P.,(2009) “Organizational Behaviour” of
Prentice Hall of India (New Delhi)
CHHABRA , T. N.,(2010), Human Resource Management
WEBSITES REFFERED:
http://en.wikipedia.org/wiki/AXIS_Bank
http://business.mapsofindia.com/banks/Axis-bank-branches/
http://business.mapsofindia.com/banks-in-india/Axis.html/
http://www.slideshare.net/vin4a/recruitment-and-selection-at-Axis
REPORTS/ARTICLES REFFERED:
Annual report of AXIS BANK 2011