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PROJECT REPORT ON

A COMPREHENSIVE STUDY ABOUT “RECRUITMENT AND SELECTION”

W.R.T IL&FS INVESTSMART SECURITIES LTD

STUDY UNDERTAKEN

AT

BANGALORE

Submitted in partial fulfillment of the requirement of

Master Program in Business Management

Submitted By

RUPLYN TERANGPI(Reg. no. MPBM08110)

Under the Guidance of

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

Submitted To

Academy Of Business Management Tourism and Research.



Kudlu Gate, Opp. Skoda Showroom, Hosur Main Road

Bangalore - 560068

DECLARATION

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

COMPREHENSIVE STUDY ABOUT “RECRUITMENT AND

SELECTION” W.R.T IL&FS INVESTSMART SECURITIES LTD,

BANGALORE,” submitted in partial fulfillment of the requirement for the degree

of Masters Programme in Business Management (MPBM) at Academy of Business

Management Tourism and Research (ABMTR). This is the project report carried

out by me during 01/05/2009 to 30/06/2009 under the supervision and guidance of

Mrs. Priyanka, faculty of Management Studies, ABMTR, Bangalore.

PLACE: BANGALORE SIGNATURE OF CANDIDATEDATE:

FORWARDED

DIRECTOR ABMTR

ACADEMY OF BUSINESS MANAGEMENT TOURISM AND RESEARCH

Academy Of Business Management Tourism and Research. 2



KUDLU GATE, OPP. SKODA SHOWROOM, HOSUR MAIN ROAD

BANGALORE - 560068

CERTIFICATE

This is to certify that this major report is submitted in partial fulfillment of the

requirement of MANAGEMENT PROGRAMME OF BUSINESS

MANAGEMENT is a record of bonafied major project carried out by RUPLYN

under my supervision and guidance and that part of this major project report had

been submitted earlier for the award of any degree and this report has not been

published in part or full any other magazine or journal.

Place: Signature of guide

Date: Prof. Priyanka




ACKNOWLEDGEMENT

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

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

highly esteemed management of ACADEMY OF BUSINESS MANAGEMENTTOURISM AND RESEARCH and to our DIRECTOR Dr. SHAJI THOMAS

for giving permission and providing all support & facilities to carry-out thisProject.

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

of Trading Product (South), at “IL&FS Investsmart Securities Ltd, Bangalore”

for his valuable advice and support through-out the project.

I also express my gratitude to Mr. Jaison Joseph, Associate Manager atIL&FS INVESTSMART SECURITIES LTD., for having provided with theunique opportunity and guidance.

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

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

INVESTSMART SECURITIES LTD, BANGALORE for their help and

encouragement in completing the project.

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




CONTENTS




Chapter

No.

1.

2.

3.

4.

5.

6.

INTRODUCTION:-

a. Company profile…………………………………………………...

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

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

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

e. Research Methodology…………………………………………….

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

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

Theoretical Background ………………………………………………….

Findings of the study ……………………………………………………..

Suggestions and Recommendations …………………………………….

Conclusion………………………………………………………………..

Bibliography ………………………………………………………………

Page

No.

6-21

22

23

24

25-26

27

28

29-40

41

42

43-44

45

COMPANY PROFILE




Introduction

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

organizations providing individuals and corporate with customized financial

management solutions. IL&FS Investsmart Limited smart describes itself as India’s

Financial Multiplex. All activities of IL&FS Investsmart Limited are based upon

the thought ‘Realizing your goals together’. It always strives to be a trusted

investment partner to help its clients work towards achieving their financial goals.

The institutional expertise of IL&FS Investsmart Limited combined with a

thorough understanding of the financial markets results in appropriate investment

solutions for its clients.

IL&FS Investsmart Limited, through its subsidiaries in India,

provide a wide range of investment products to its retail and institutional clients

including equity, investment banking, insurance broking and distribution, mutual

fund distribution and related financial services. IL&FS Investsmart Limited

provide a complete range of investment solutions to around 150,000 customers in

India through its 88 branches and 190 franchisee outlets from 133 cities and has

been recognized as “National Best Performing Financial Advisor-Retail” for 2

years in a row (2006-07 and 2007-08) by CNBC TV 18.

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

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




execution backed by in-depth research, knowledge and expertise to customers

across the country. IL&FS Investsmart caters to the needs of retail customers

across India through a network of more than 300 offices encompassing almost

every Indian state.

Vision: To become the preferred long term financial partner to a wide base of

customers whilst optimizing stake holder’s value.

Mission: To establish a base of 1 million satisfied customers by 2010. We

will create this by being a responsible and trustworthy partner.

Corporate Action: An Approach to Business that reflects Responsibility,

Transparency and Ethical Behavior. Respect for Employees, Clients & Stakeholder

groups.

Top management

A committed and formidable management team anchors the company

towards its goal and provides direction in diverse areas of business strategy,

operating management, regulatory reporting, human resources development,

product development etc. Equipped with excellent domain knowledge and

extensive experience, they drive IIL’s vision.

Managing Director & CEO : Mr. Manasije Mishra

Head-Equity and Capital Markets : Mr. Avdhoot Deshpande

Head-NBFC : Mr. Vipul Shah

Vice President-Retail Equity: Mr. Dharam Shah

Head–IAFL & General Insurance: Mr. B S Shashidhar

Head–Alternate Channels: Mr. Bhuvenesh Khanna

Chief Information Officer: Mr. C Diwakar




Head-Distribution : Mr. K Venkatesh

HSBC IN INDIA

The HSBC Group in India is represented by several entities including

The Hong Kong and Shanghai Banking Corporation Limited which offers a full

range of banking and financial services to its over 2 million customers in India

through its 47 branches and 170 ATMs across 26 cities. HSBC is one of India’s

leading financial services groups, with over 33,000 employees in its banking,

investment banking and capital markets, asset management, insurance broking, two

global IT development centers and six global resourcing operations in the country.

The Bank is the founding and a principal member of the HSBC Group which, with

over 10,000 offices in 83 countries and territories and assets of US$2,354 billion at

31 December 2007, is one of the world’s largest banking and financial services

organizations.

HSBC ACQUIRED 93.86% STAKE IN IL&FS INVESTSMART SECURITIES

LTD.

HSBC has completed the acquisition of 93.86 per cent of IL&FS

Investsmart Limited, for a sum of Rs.1,311 crores (around USD $296.4 million).

HSBC had acquired a 73.21% stake in Investsmart in may 2008, which included a

43.85% stake previously held by E*TRADE Mauritius and 29.36% stake holding

of IL&FS Investsmart Limited. HSBC later acquired an additional 20.65% through

an open offer taking its total share holding in Investsmart to 93.86%. “The decision

to acquire a controlling stake in Investsmart triggered an open offer to public

shareholders, through which HSBC has accepted shares equivalent to 20.65% of

Investsmart capital” says a statement issued by HSBC.




According to IL&FS Investsmart Limited the motive behind selling its

stakes to HSBC is described by Mr. Ravi Parthasarathy, Chairman of IL&FS

Investsmart Limited: “IL&FS Investsmart Limited goal is to position IIL as a

leader in the brokerage sector. In particular, the companies have always felt the

need for a successful brokerage Group to have an international capability. The

company believes that the strength of the HSBC Group provides a unique

opportunity for Investsmart to execute its strategic vision. It is IL&FS Investsmart

Limited intention to retain a close association with Investsmart through co-

operation on a number of areas that will be mutually beneficial and on an arm's

length basis”. They also felt that HSBC Group will provide Investsmart employees

significant opportunities to enhance the value proposition for their customers.

Investsmart employees will also benefit from the training and development

infrastructure that arises from being a part of one of the world’s leading banking

organizations.

The acquisition of IL&FS Investsmart Limited came in line with

HSBC’s strategy to expand its operations in the Indian subcontinent, which is

HSBC’s one of the fastest growing markets in the world.

“IL&FS Investsmart Limited is a great addition to the current

operations, which already constitutes the second largest foreign banking network in

India. HSBC look forward to working with Investsmart management team and

growing this business”. HSBC’s India chief executive, Naina Lal Kidwai said in

this statement.

Present share Holding Pattern of Investsmart:-




RETAIL BUSINESS IN IL&FS INVESTSMART SECURITIES LTD.

Retail offerings of IL&FS Investsmart Limited seek to cover all financial planning

requirements of individuals, which include providing personalized investment

management services including planning, advisory, execution and monitoring of

the full range of investment services. Broadly the retail services are divided into

two broad categories.

A.Advisory Services

1. Mutual Fund Advisory Services

Research is the fundamental basis of all sound investment decisions and the

superior research team of IL&FS Investsmart Limited allows it to deliver

superior solutions to the clients. Its investment decisions are backed by in-

depth research generated by top-drawer research team.

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

experts across India helps investors in selecting the right scheme from over

500 offerings, matching your needs, goals and risks. In addition to this, the

company also helps investors constantly monitor their MF portfolio, making

changes according to investors changing needs as per the market scenario, in

order to make their money work for investors.

At IL&FS Investsmart (IIL), their expert teams of relationship

managers interact with investors on a regular basis to discern investors




changing needs, in tune with the changing environment. Most of investors

require some assistance in making selections appropriate to their individual

needs. Investors need sound advice from people who have expertise to

decipher the financial jargon of investment options available today. Their

Investment Advisory Team helps investors customize and execute plans,

based on investors individual needs towards wealth maximization.

2. Portfolio Management Services (PMS)

Financial markets today offer enormous growth potential. Butmanaging investors own investments can be an extremely challenging task.

Anticipating market trends, assessing the impact of socio-economic changes

on investors investments, keeping abreast of latest corporate developments

and financial analysis all adds up. Managing one’s investments has become

nearly a full-time affair that requires considerable time and expertise.

At IL&FS Investsmart Limited, they offer the solution that allowsinvestors to relax as company put investor’s money to work through the IIL-

PMS, a Discretionary Portfolio Management Service.

About the IIL PMS Options:

Every investor is unique and has unique investment preferences and risk

appetites. Company offers a choice of two types of PMS schemes:




I preserve-

I Preserve is a discretionary investment management scheme, offering

investment solutions in Mutual Funds that are aligned to suit investor’s

financial goals. The primary objective of I Preserve is to manage investments

in Mutual funds, encompassing both debts as well as equity schemes. I

Preserve take care of complete execution of the investment and monitoring

on customers behalf.

Features:

Investors have a choice of five schemes based on investor risk profile

very High / High / Moderate / Low / Very Low.

I Growth-

I Growth is a discretionary portfolio management scheme focusing on

investments in equities and derivatives with an objective of growth. It aims at

creating long-term wealth through judicious stock selection and asset

allocation.

Features & Benefits:

Investors have a choice of three schemes based on investor risk profile -High

/ Moderate / Low.

• High Risk

Dynamically managed product to capture medium term upsides from




attractive business profiles, relative under-valuations, cyclical factors within

sectors and technical factors. Expect higher portfolio turnover.

• Medium Risk

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

across sectors and market caps.

• Low Risk

Endeavors to minimize risk and yet offer stable and modest returns, through

judicious mix of defensive stocks. Emphasizes on quality of businesses and pricing.

3. IPO Advisory & Distribution Services

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

engaged in the activity IPO Advisory and Distribution. Company’s primary

markets division does a comprehensive research before recommending issues

to clients. Company’s pan India reach helps them in mobilizing large number

of applications across India during public offerings, this has ensured that the

company constantly figure amongst the top ranking performers in the

primary market distribution space.

As a part of their online offering, customers can invest in IPO's

not only through the company branches but also through the company

website, which also provides investors with regular updates on the IPO

scenario, Open IPO's as well as the forthcoming IPO’s at any given point of

time. The primary markets distribution division works in conjunction with




the retail and wholesale distribution networks, as well as the company’s

private client group.

4. Insurance Advisory Services

IL&FS Investsmart Limited (IIL) is investor’s one stop shop for all Insurance &

Retirement needs. Their key service features include the following:-

Risk management solutions for all.

Comprehensive research for all policies available on a regular basis.

Recommendations on a comprehensive insurance cover based on clientsneeds.

Maintain proper records of client policies.

Continuous monitoring of client account.

B.Trading Products

1. Equities & Derivatives

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

across both the Cash and F&O segments. It is a member with National Stock

Exchange (NSE) as well as the Bombay Stock Exchange (BSE) and cater to trading

needs through a network of more than 300 offices across India.

IL&FS Investsmart Limited also offer comprehensive trading solutions

through their website www.investsmart.in which is equipped with host of unique

features to cater to the trading needs of clients.




The trading offerings include 3 different trading platforms to suit investor’s

individual needs, depending upon their profile.

The well experienced team of Research Analysts and Advisory Managersguide investor’s with appropriate solutions, backed by in-depth research,

knowledge and expertise on a regular basis. The company would constantly help

clients with strategies for investments in equities, recommendations for trading on

futures & options, hedging with Nifty and other product and opportunities of risk-

less arbitrage between various segments.

(C) NRI Services

IL&FS Investsmart Limited is one of India's prime financial services company and

is committed to creating a differentiated financial services organization by

leveraging technology to deliver the most compelling combination of product,

service and price to a value driven consumer.

IL&FS Investsmart Limited offers investment solutions to meet the

financial objectives of NRIs. The end-to-end investment solutions guide customers

at every step of their investment in India right from PAN Card Assistance to

formulating & executing investment plans based on NRI requirements, robust

trading platforms till the assistance on accounting & income tax returns filing in

India.




NRI product offerings:

•NRI Equity:

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

listed stocks through the company’s trading solutions through their web and

software based trading platforms which is equipped with a host of unique features

to cater the investor’s need. At IL&FS Investsmart Limited, the company offer a

smooth online trading experience with exceptional trading tools, service and client

support enabling investors to make quick trading decisions. The 3-in-1 Trading

Platform enables clients to do online delivery based trading at their convenience.

This account links customers Banking, Demat and trading account, thus providing

customers a seamless platform to trade efficiently and conveniently. Customers can

also place their orders through company’s dedicated Call & Trade Facility or

contact customers Relationship Manager.

• NRI Portfolio Management Services:

Customized Solutions to meet customers Investment needs. Indian

markets today offer enormous growth potential. Anticipating the Indian market

trends, assessing the impact of country's socio-economic changes on investors

investments, keeping abreast of latest corporate developments and financial

analysis can be an extremely challenging task. Therefore, managing one's

investments may become nearly a full-time affair that requires considerable time

and expertise. At IL&FS Investsmart Limited, the company offer solutions that are

tailored to meet the investment needs of an NRI




IL&FS Investsmart securities limited understand the unique investment

preferences and risk appetites for NRIs who look for investments in India over a

long-term horizon. Company offer a choice of two types of Portfolio Management

Services schemes which are focused on returns from various asset classes I growth

and I preserve.

2. INSTITUTIONAL OFFERINGS

(A) Investment Banking Services

IL&FS Investsmart Limited (IIL) offers investor’s extensive range of Investment Banking Services for equity related products and instruments. The

company team advises investors on transactions like business structuring and

capital raising opportunities based on customers corporate needs and state of

capital markets. Services IL&FS Investsmart Limited specialize in include

Management of:

Initial Public Offering (IPOs)

Follow-on Offerings

Qualified Institutional Placements (QIPs)

Buyback of Equities

Open Offers

Mergers & Acquisitions

Private Equity Placements




(B) Institutional Equity Broking Services

Their efficient execution, quality research, top quality human resources and

complete compliance with stock exchange regulations, as well as business standard

ethics lend towards company’s exemplary services to investors, through IPOs,

equities, derivatives and mutual funds.

They also focus on identifying undiscovered value stocks to investors. Through it’s

gamut of services, this division is well-suited to corporate investors, banks,

financial institutions, insurance companies and FII’s. Their Institutional Equity

Business (IEB) is well positioned to offer support for a complete range of

investment banking service to Corporate.

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

improving market capitalization of forward looking companies. They work closely

with institutional investors, private equity investors and Corporates.

Their research division has a designated team for each asset class and consists

of qualified professionals who evaluate market trends and make unbiased and

objective reports.

(C) Institutional Debt Broking Services

IL&FS Investsmart Limited institutional debt broking division includes,

secondary market broking, primary market debt placement & distribution and

provident fund advisory services.




Secondary debt broking is the principle service provided by this division. The

clients mainly comprise of institutional debt players, such as banks, primary

dealers, mutual funds, large provident funds and in some cases corporate treasuries.

The division empanelled with almost all banks, primary dealers and mutual funds,

on whose behalf it acts either on the buying or selling side. All types of debt papers

are covered, including government securities, treasury bills, public sector bonds,

corporate bonds etc. This desk also provides transacting and advisory services to

various provident funds and HNI clients.

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

various activities:-

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

timing, and other instrument specific structuring such as put / call option,

conversion option and rating. Assisting in the rating exercise and suggesting

various means and options to improve rating if so desired, through

“Structured Obligations” or other mechanisms.

Pre marketing the placement / issuance

Selling / placing the issuance

Assisting in any related documentation for the issuance

Assisting in all other steps to complete the issuance for draw down funds.

The debt instrument covered by this division cover both short term as well as

longer term instruments. Commercial paper and MIBOR Linked Bonds are

popular among the short-term instruments. The division uses a proprietary




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

issuances.




STATEMENT OF THE PROBLEM

During the study I came across the certain area where I face the problem on the

Recruitment of the suitable students for the different area of the work.

During this tenure I came across the area where I found that the recruitment

process is much different from that of the IT industry we where Only provided withthe data base we were not expose to portals by which we Hire good skills.

The research was to complete within 60days from 1st may 2009 to 30th june 2009




OBJECTIVES OF THE STUDY

The Researcher has framed the following objectives

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

Bangalore.

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




SCOPE OF THE STUDY

The study is conducted for IL&FS,Bangalore to find out recruitment and selection

process of the company for period of 60 days from 1st May 2009 to 30 JUNE 2009 .

Introduction with the various departments backed up by a structured questionnaire

was a main source of qualitative data, and also personal interview was conducted

with the employees to whom the questionnaires were given.




RESEARCH METHODOLOGY

Title of the Study

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

showing recruitment process of any candidate in Investment Company. This

research is done at IL&FS This study also shows why student join investment

sector.

I used a descriptive type of research. It is one which includes surveys and fact

finding, enquiries of different kinds. The major purpose of such research is

description of the state of affairs, as it exists at present.

Methodology or process involving in the research followed during the course

of summer training is as follows –

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

research process where the data is collected via two process: (i) Primary Sources

and (ii) Secondary sources




Sources of Research

1 Primary sources-

i. Preparing the Questionnaire.

ii. Calling the candidates for interview.

iii. Conducting the preliminary round.

Secondary sources-

i. Newspaper.

ii. Magazines.

iii. Websites. (www.jobmantra.com)




Research Period

The study on recruitment and selection towards special reference to Big IL&FS

Bangalore, done by survey method and also by conducting personal interview with

the employees was conducted for a period of 60 days from May 1st to 30th june2009




Limitations of the Study

i. Static’s are blurred

ii. Some time vague.

iii. Not getting the right profile.




Recruitment and Selection

The recruitment and selection is the major function of the human resource

department and recruitment process is the first step towards creating the

competitive strength and the strategic advantage for the organizations. Recruitment

process involves a systematic procedure from sourcing the candidates to arranging

and conducting the interviews and requires many resources and time. A general

recruitment process is as follows:

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

resource department receiving requisitions for recruitment from any

department of the company. These contain:

Posts to be filled

Number of persons

Duties to be performed

Qualifications required

Preparing the job description and person specification.

Locating and developing the sources of required number and type of

employees (Advertising etc).

Short-listing and identifying the prospective employee with required

characteristics.

Arranging the interviews with the selected candidates.

Conducting the interview and decision making




2. Prepare job description and person specification

3. Advertising the vacancy

4. Managing the response

5. Short-listing

6. Arrange interviews

7. Conducting interview and decision making

The recruitment process is immediately followed by the selection process i.e. the

final interviews and the decision making, conveying the decision and the

appointment formalities.

Fig.2.1 Recruitment process




The recruitment procedure of life insurance is very easy. A person with high

educating and well experience can be recruited after a personal interview and groupdiscussion. After the training program is completed the Insurance Agent has to

appear for the pre-examination conducted by IRDA. As he clear the exam he

provides a license, which is the proof of a legalized insurance Agent, which permits

him to deal in his insurance business.




Steps in recruitment of students for internship

Approach to the likely student

Appointment as per condition

Discuss the topic

Give the documents which includes:-

1. Prospectus of the company

2. Brochure

3. Company’s plan

4. Questionnaire

Collect the document after its completion

Forward it to project manager

Feed it in the computer as the database

Follow up as per conditions

Modes of Contact

Personal Contacts

References

Phone Calls

Guidance as per Unit Manager

E-Recruitment




Many big organizations use Internet as a source of recruitment. E- Recruitment is

the use of technology to assist the recruitment process. They advertise job

vacancies through worldwide web. The job seekers send their applications or

curriculum vitae i.e. CV through e mail using the Internet. Alternatively job seekers

place their CV’s in worldwide web, which can be drawn by prospective employees

depending upon their requirements.

Advantages of e-recruitment are:

Low cost.

No intermediaries

Reduction in time for recruitment.

Recruitment of right type of people.

Efficiency of recruitment process.

The buzzword and the latest trends in recruitment is the “E-Recruitment”. Also

known as “Online recruitment”, it is the use of technology or the web based toolsto assist the recruitment process. The tool can be either a job website like

naukri.com, the organization’s corporate web site or its own intranet. Many big and

small organizations are using Internet as a source of recruitment. They advertise

job vacancies through worldwide web. The job seekers send their applications or

curriculum vitae (CV) through an e-mail using the Internet. Alternatively job

seekers place their CV’s in worldwide web, which can be drawn by prospective

employees depending upon their requirements.

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




Job portals – i.e. posting the position with the job description and the job

specification on the job portal and also searching for the suitable resumes

posted on the site corresponding to the opening in the organization.

Creating a complete online recruitment/application section in the

company’s own website. Companies have added an application system to

its website, where the ‘passive’ job seekers can submit their resumes into

the database of the organization for consideration in future, as and when

the roles become available.

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

job portals to the organizations. It enables the employees to screen and

filter the resumes through pre-defined criteria’s and requirements (skills,

qualifications, experience, payroll etc.) of the job.

Job sites provide a 24*7 access to the database of the resumes to the employees

facilitating the just-in-time hiring by the organizations. Also, the jobs can be posted

on the site almost immediately and is also cheaper than advertising in the

employment newspapers. Sometimes companies can get valuable references

through the “passers-by” applicants. Online recruitment helps the organizations to

automate the recruitment process, save their time and costs on recruitments.

Online recruitment techniques




Giving a detailed job description and job specifications in the job postings

to attract candidates with the right skill sets and qualifications at the first

stage.

E-recruitment should be incorporated into the overall recruitment strategy

of the organization.

A well defined and structured applicant tracking system should be

integrated and the system should have a back-end support.

Along with the back-office support a comprehensive website to receive

and process job applications (through direct or online advertising) should

be developed.

2.4.1 Sources of Recruitment

Every organization has the option of choosing the candidates for its recruitment

processes from two kinds of sources: internal and external sources. The sources

within the organization itself (like transfer of employees from one department toother, promotions) to fill a position are known as the internal sources of

recruitment. Recruitment candidates from all the other sources (like outsourcing

agencies etc.) are known as the external sources of recruitment.




SOURCES OF RECRUITMENT

Internal Sources

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

External Sources

1. Press Advertisements: Advertisements of the vacancy in newspapers

and journals are a widely used source of recruitment. The main

advantage of this method is that it has a wide reach.

2. Educational Institutes: Various management institutes, engineering

colleges, medical Colleges etc. are a good source of recruiting well

qualified executives, engineers, medical staff etc. They provide

facilities for campus interviews and placements. This source is known

as Campus Recruitment.

3. Placement Agencies: Several private consultancy firms perform

recruitment functions on behalf of client companies by charging a fee.

These agencies are particularly suitable for recruitment of executives

and specialists. It is also known as RPO (Recruitment Process

Outsourcing)




Factors Affecting Recruitment

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

various internal and external forces. The internal forces or factors are the factors

that can be controlled by the organization. And the external factors are those

factors which cannot be controlled by the organization. The internal and external

forces affecting recruitment function of an organization are:

Internal Factors

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

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

objectives of recruitment and provides a framework for implementation of

recruitment program. It may involve organizational system to be developed

for implementing recruitment programs and procedures by filling up

vacancies with best qualified people.

Factors affecting recruitment policy

Organizational objectives

Personnel policies of the organization and its competitors.

Government policies on reservations.

Preferred sources of recruitment.

Need of the organization.




Recruitment costs and financial implications.

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

determining the gaps present in the existing manpower of the organization. It

also helps in determining the number of employees to be recruited and what

qualification they must possess.

3. Size of the Firm: The size of the firm is an important factor in recruitment

process. If the organization is planning to increase its operations and expand

its business, it will think of hiring more personnel, which will handle its

operations.

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

employ that source of recruitment which will bear a lower cost of recruitment

to the organization for each candidate.

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

more personnel if it is expanding its operations.

External Factors

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

The major external forces are:

1. Supply and Demand: The availability of manpower both within and outside

the organization is an important determinant in the recruitment process. If the




company has a demand for more professionals and there is limited supply in

the market for the professionals demanded by the company, then the

company will have to depend upon internal sources by providing them

special training and development programs.

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

prohibiting discrimination in hiring and employment have direct impact on

recruitment practices. For example, Government of India has introduced

legislation for reservation in employment for scheduled castes, scheduled

tribes, physically handicapped etc. Also, trade unions play important role in

recruitment. This restricts management freedom to select those individuals

who it believes would be the best performers. If the candidate can’t meet

criteria stipulated by the union but union regulations can restrict recruitment

sources.

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

recruitment function of the organizations. To face the competition, many a

times the organizations have to change their recruitment policies according to

the policies being followed by the competitors.




SWOT

Strengths

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

our track record of growth, financial solidity, ethical practices, domain expertise and

meritocratic culture. Join us for a rewarding and an enriching career.

Weakness

1. Low number of offices and network and number of life investment agents

2. Lack of knowledge and expertise.

Opportunities

1. Investment has captured 10-20 % market2. Still the numbers of companies are few and company has every capability to

grow and forward its performance areas to the widest.

Threats

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

2. Illiteracy and unemployment also pose threat.

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

their money over to that industry.




FINDINGS

During the study I came across different aspects of recruitment and its process. It

gave me a deeper understanding of how to recruit the efficient and effective

students for the marketing and sales profile. I came across some of the interesting

aspect where most of the students where Interested for profile and some area I face

the challenges to get talented students. It is totally a different experience where the

interaction with the Top level management was there. Due to which I came to

know their requirements and the type of skilled candidates they were targeting,

which helped me out for the Recruitment process.




SUGGESTION

During my study I found out the certain area which should be improved are the

company should use the new technology for the recruitment of the students and

provide the HR team with new technology and the social networking site.





Conclusion

Conclusion



CONCLUSION

Summer training is a best example for a trainee to learn about the company

working and corporate culture. In IL&FS I gained a significant knowledge with

respect of recruitment, its importance and applicability.

With the growing financial sector I would like to prefer this industry for my

future career advancement and as an opportunity to service this industry.

BIBILIGORAPHY




1. HUMAN RESOURCE MANAGEMENT :- CYNTHIA D

FISHER

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

3. HUMAN RESOURCE MANAGEMENT:- JAMES B .SHAW

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

AQUINAS

PROJECT REPORT ON

A COMPREHENSIVE STUDY ABOUT “RECRUITMENT AND SELECTION”

W.R.T IL&FS INVESTSMART SECURITIES LTD




STUDY UNDERTAKEN

AT

BANGALORE

Submitted in partial fulfillment of the requirement of

Master of Business Management

Submitted By

RUPLYN TERANGPI(Reg. no. MPBM08110)

Under the Guidance of

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

Submitted To

Academy Of Business Management Tourism and Research.

Kudlu Gate, Opp. Skoda Showroom, Hosur Main RoadBangalore - 560068

ruplyn mpbm[1]

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