PROJECT REPORT

ON
TO STUDY OF RECRUITMENT AND SELECTION
PROCESS AT ICICI BANK

Submitted in partial fulfillment of the requirements for award of

Master of Business Administration
(Session: 2014 2016)
UNDER THE GUIDANCE OF:

Kawaljeet Singh
SUBMITTED BY:

Sonia Rana
Roll no. 1411000238

Sikkim Manipal UniversitySTUDENT

DECLARATION

I Sonia rana , student Sikkim Manipal university, of the batch 2014- 2016 declare that I
have completed my thesis on the topic TO STUDY OF RECRUITMENT AND
SELECTION PROCESS AT ICICI BANK. The information submitted is true and original
to the best of my knowledge.

DATE: ___________
SIGNATURE OF STUDENT_____________

CERTIFICATE BY GUIDE

I, Sonia Rana, student of MBA (GENERAL) at Sikkim Manipal University of the batch
2014-2016 declare that my guide Mr. Kawaljeet Singh has approved the thesis, as a
complete and final work requiring no further alterations on the topic TO STUDY OF
RECRUITMENT AND SELECTION PROCESS AT ICICI BANK. While undergoing my
thesis I was in regular contact with my guide and met him 6 times for discussing the
progress of my thesis.

DATE: _____________
SIGNATURE OF GUIDE: _______________________,

ACKNOWLEDGEMENT
A training report is never the sole product of the person whose name appears on the cover.
There is always help, guidance and suggestion of many in preparation of such a report. So it
becomes my first duty to express my gratitude towards all of them.
I would also like to express my gratitude to Mr. Kawaljeet Singh Faculty, at Sikkim
Manipal University for her excellent guidance and help throughout the training period.
I want to acknowledge the help provided by guide and friends. The precious inputs provided
by them have helped in compiling this report. As well as I want to thank my friends and
colleagues who helped me in this working.
I express my deep-hearted thanks and gratitude to all of those who helped me in this Project.

INDEX
Executive Summary......................................................................................5
Chapter 1 Introduction...................................................................................6
Chapter 2 Objective and Scope....................................................................26
Chapter 3 Methodology...............................................................................28
Chapter 4 Data Collection............................................................................30
Chapter 5 Data Analysis .............................................................................45
Chapter 6 Recommendations.......................................................................56
Chapter 7 Conclusion...................................................................................59
Annexures ....................................................................................................61
Bibliography ...............................................................................................63

EXECUTIVE SUMMARY

Adjusting the existing staff profile to the desired one is frequently a gradual process. As the
older staff retires, new stall has to be recruited not only for replacement hut also to provide
for any expansion in service. The recruitment and selection effort should be a systematic one
and could involve the announcement of job vacancies.
Such announcement should dearly state the desired qualifications of the new stall, such as
academic background, previous work experience, and so forth, and should dearly describe
the recruitment process. Transparency in the recruitment and selection process is important
as this will set the standard far a new career at customs and curb the tendencies for
favoritism and clientelism that often plague recruitment in the public sector! Public
advertising of vacancies as well as participation in job fairs and visits to schools of higher
learning are recommended to ensure that qualified people apply for the advertised job. In
today's rapidly changing business environment, organizations have to respond quickly to
requirements for people. Hence, it is important to have a well-defined recruitment policy in
place, which can be executed effectively to get the best fits for the vacant positions.
Selecting the wrong candidate or rejecting the right candidate could turn out to be costly
mistakes for the organization. Selection is one area where the interference of external factors
is minimal. Hence the HR department can use its discretion in framing its selection policy
and using various selection tools for the best results. These caselets discuss the importance
of having an effective recruitment and selection policy.

CHAPTER 1
INTRODUCTION

CHAPTER 1
INTRODUCTION
INTRODUCTION
Human resources are an increasingly broadening term that refers to managing "human
capital," the people of an organization. The field has moved from a traditionally
administrative function to a strategic one that recognizes the link between talented and
engaged people and organizational success. The field draws upon concepts developed in
Industrial/Organizational Psychology and System Theory. Human resources has at least two
related interpretations depending on context. The original usage derives from political
economy and economics, where it was traditionally called labor, one of four factors of
production although this perspective is changing as a function of new and ongoing research
into more strategic approaches at national levels. This first usage is used more in terms of
'human resources development', and can go beyond just organizations to the level of nations.
The more traditional usage within corporations and businesses refers to the individuals
within a firm or agency, and to the portion of the organization that deals with hiring, firing,
training, and other personnel issues, typically referred to as 'human resources management'.
Corporate Management:
In the very narrow context of corporate "human resources" management, there is a
contrasting pull to reflect and require workplace diversity that echoes the diversity of a
global customer base. Foreign language and culture skills, ingenuity, humor, and careful
listening, are examples of traits that such programs typically require. It would appear that
these evidence a general shift through the human capital point of view to an
acknowledgment that human beings do contribute much more to a productive enterprise
than "work": they bring their character, their ethics, their creativity, their social connections,
and in some cases even their pets and children, and alter the character of a workplace. The
term corporate culture is used to characterize such processes at the organizational level.

The traditional but extremely narrow context of hiring, firing, and job description is
considered a 20th century anachronism. Most corporate organizations that compete in the
modern global economy have adopted a view of human capital that mirrors the modern
consensus as above. Some of these, in turn, deprecate the term "human resources" as
useless. Yet the term survives, and if related to `resourcefulness', has continued and
emerging relevance to public policy.
In general the abstractions of macro-economics treat it this way - as it characterizes no
mechanisms to represent choice or ingenuity. So one interpretation is that "firm-specific
human capital" as defined in macro-economics is the modern and correct definition of
"human resources" and that this is inadequate to represent the contributions of "human
resources" in any modern theory of political economy.
Individual responses:
In regard to how individuals respond to the changes in a labour market the following should
be understood:

Geographical spread how far is the job from the individual? The distance to travel
to work should be in line with the pay offered by the organization and the
transportation and infrastructure of the area will also be an influencing factor in
deciding who will apply for a post.

Occupational structure the norms and values of the different careers within an
organization. Mahoney 1989 developed 3 different types of occupational structure
namely craft (loyalty to the profession), organization career (promotion through the
firm) and unstructured (lower/unskilled workers who work when needed).

Generational difference different age categories of employees have certain

characteristics, for example their behavior and their expectations of the organization.

Framework:
Human Resources Development is a framework for the expansion of human capital within
an organization or (in new approaches) a municipality, region, or nation. Human Resources
is a combination of training and education, in a broad context of adequate health and
employment policies that ensures the continual improvement and growth of the individual,
the organization, and the national human resourcefulness. Adam Smith states, The
capacities of individuals depended on their access to education. Human Resources
Development is the medium that drives the process between training and learning in a
broadly fostering environment. Human Resources Development is not a defined object, but
a series of organized processes, with a specific learning objective Within a national
context, it becomes a strategic approach to intersectoral linkages between health, education
and employment.
Structure:
Recruitment and selection is the structure that allows for individual development, potentially
satisfying the organizations, or the nation's goals. The development of the individual will
benefit the individual, the organization, or the nation and its citizens. In the corporate vision,
the Human Resources Development framework views employees, as an asset to the
enterprise whose value will be enhanced by development, Its primary focus is on growth
and employee developmentit emphasizes developing individual potential and skills
Human Resources Development in this treatment can be in-room group training, tertiary or
vocational courses or mentoring and coaching by senior employees with the aim for a
desired outcome that will develop the individuals performance. At the level of a national
strategy, it can be a broad intersectoral approach to fostering creative contributions to
national productivity.
Training:
At the organizational level, a successful Human Resources program will prepare the
individual to undertake a higher level of work, organized learning over a given period of
time, to provide the possibility of performance change. In these settings, Human Resources
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is the framework that focuses on the organizations competencies at the first stage, training,
and then developing the employee, through education, to satisfy the organizations long-term
needs and the individuals career goals and employee value to their present and future
employers. Human Resources can be defined simply as developing the most important
section of any business its human resource by, attaining or upgrading the skills and
attitudes of employees at all levels in order to maximize the effectiveness of the enterprise.
The people within an organization are its human resource. Human Resources from a
business perspective is not entirely focused on the individuals growth and development,
development occurs to enhance the organization's value, not solely for individual
improvement. Individual education and development is a tool and a means to an end, not the
end goal itself. The broader concept of national and more strategic attention to the
development of human resources is beginning to emerge as newly independent countries
face strong competition for their skilled professionals and the accompanying brain-drain
they experience.
Recruitment:
Employee recruitment forms a major part of an IT company's overall resourcing strategies
which seek to identify and secure the people needed for the organization to survive and
succeed in the short to medium-term. Recruitment activities need to be responsive to the
ever-increasingly competitive market to secure suitably qualified and capable recruits at all
levels. To be effective these initiatives need to include how and when to source the best
recruits internally or externally. Common to the success of either are; well-defined
organizational structures with sound job design, robust task and person specification and
versatile selection processes, reward, employment relations and human resource policies,
underpinned by a commitment for strong employer branding and employee engagement
strategies.
Internal recruitment can provide the most cost-effective source for recruits if the potential of
the existing pool of employees has been enhanced through training, development and other
performance-enhancing activities such as performance appraisal, succession planning and

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development centres to review performance and assess employee development needs and
promotional potential.
Increasingly, securing the best quality candidates for almost all small scale IT companies
will rely, at least occasionally if not substantially, on external recruitment methods. Rapid
changing business models demand skills of experiences which cannot be sourced or rapidly
enough developed from the existing employee base. It would be unusual for an organization
today to undertake all aspects of the recruitment process without support from third-party
dedicated recruitment firms. This may involve a range of support services, such as;
provision of CVs or resumes, identifying recruitment media, advertisement design and
media placement for job vacancies, candidate response handling, short listing, conducting
aptitude testing, preliminary interviews or reference and qualification verification. Typically,
small IT companies may not have in-house resources or, in common with IT companies,
may not possess the particular skill-set required to undertake a specific recruitment
assignment. Where requirements are arise these will be referred on an adhoc basis to
government job centres or commercially run employment agencies.
Except in sectors where high-volume recruitment is the norm, an organization faced with an
unexpected requirement for an unusually large number of new recruits at short notice will
often hand over the task to a specialist external recruiter to manage the end-to-end
resourcing program. Sourcing executive-level and senior management as well as the
acquisition of scarce or high-potential recruits has been a long-established market serviced
by a wide range of search and selection or headhunting consultancies which typically
form long-standing relationships with their client organizations. Finally, certain
organizations with sophisticated HR practices have identified there is a strategic advantage
in outsourcing complete responsibility for all workforce procurement to one or more thirdparty recruitment agencies or consultancies. In the most sophisticated of these arrangements
the external recruitment services provider may not only physically locate, or embed, their
resourcing team(s) within the client organization's offices but will work in tandem with the
senior human resource management team in developing the longer-term HR resourcing
strategy and plan.

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Modern concept of human resources:

Though human resources have been part of business and organizations since the first days of
agriculture, the modern concept of human resources began in reaction to the efficiency focus
of Taylorism in the early 1900s. By 1920, psychologists and employment experts in the
United States started the human relations movement, which viewed workers in terms of their
psychology and fit with companies, rather than as interchangeable parts. This movement
grew throughout the middle of the 20th century, placing emphasis on how leadership,
cohesion, and loyalty played important roles in organizational success. Although this view
was increasingly challenged by more quantitatively rigorous and less "soft" management
techniques in the 1960s and beyond, human resources development had gained a permanent
role within organizations, agencies and nations, increasingly as not only an academic
discipline, but as a central theme in development policy.
Objectives of Recruitment:
Recruitment is an important part of an organizations human resource planning and their
competitive strength. Competent human resources at the right positions in the organization
are a vital resource and can be a core competency or a strategic advantage for it. The
objective of the recruitment process is to obtain the number and quality of employees that
can be selected in order to help the organization to achieve its goals and objectives. With the
same objective, recruitment helps to create a pool of prospective employees for the
organization so that the management can select the right candidate for the right job from this
pool.
Recruitment acts as a link between the employers and the job seekers and ensures the
placement of right candidate at the right place at the right time. Using and following the
right recruitment processes can facilitate the selection of the best candidates for the
organization.
In this is competitive global world and increasing flexibility in the labour market,
recruitment is becoming more and more important in every business. Therefore, recruitment
serves as the first step in fulfilling the needs of organizations for a competitive, motivated

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and flexible human resource that can help achieve its objectives. Here at Naukrihub, they
attempt to provide a detailed insight into the concept of recruitments, recruitment process
and its sources, recent trends in recruitment, recruitment strategies and the scenario in the
industry along with the career options for recruiters.
Source of Recruitment:
Every organization has the option of choosing the candidates for its recruitment processes
from two kinds of sources: internal and external sources. The sources within the
organization itself (like transfer of employees from one department to other, promotions) to
fill a position are known as the internal sources of recruitment. Recruitment candidates from
all the other sources (like outsourcing agencies etc.) are known as the external sources of the
recruitment.
Sources of Recruitment

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Advantage and disadvantage of Sources

Some Internal Sources of Recruitments are given below:

Transfers: The employees are transferred from one department to another according
to their efficiency and experience.

Promotions: The employees are promoted from one department to another with
more benefits and greater responsibility based on efficiency and experience.

Others are Upgrading and Demotion of present employees according to their

performance.

Retired and Retrenched employees may also be recruited once again in case of
shortage of qualified personnel or increase in load of work. Recruitment such people
save time and costs of the organizations as the people are already aware of the
organizational culture and the policies and procedures.

15

The dependents and relatives of Deceased employees and Disabled employees are
also done by many companies so that the members of the family do not become
dependent on the mercy of others.

External sources of recruitment:

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.

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.

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.

Employment Exchanges: Government establishes public employment exchanges

throughout the country. These exchanges provide job information to job seekers and
help employers in identifying suitable candidates.

Labor Contractors: Manual workers can be recruited through contractors who

maintain close contacts with the sources of such workers. This source is used to
recruit labor for construction jobs.

Unsolicited Applicants: Many job seekers visit the office of well-known companies
on their own. Such callers are considered nuisance to the daily work routine of the
enterprise. But can help in creating the talent pool or the database of the probable
candidates for the organization.

16

Employee Referrals / Recommendations: Many organizations have structured

system where the current employees of the organization can refer their friends and
relatives for some position in their organization. Also, the office bearers of trade
unions are often aware of the suitability of candidates. Recruitment Management can
inquire these leaders for suitable jobs. In some organizations these are formal
agreements to give priority in recruitment to the candidates recommended by the
trade union.

Recruitment at Factory Gate: Unskilled workers may be recruited at the factory

gate these may be employed whenever a permanent worker is absent. More efficient
among these may be recruited to fill permanent vacancies.

Recruiters for schools across the country are making use of both historically successful and
newer sources to fill current vacancies for SLPs and to identify potential employees for the
future. These sources include:

University programs

Ads in local and national newspapers

Networking with current staff and student teachers

Recruitment agencies

National, state, and local speech-language-hearing associations

Job fairs

Online links among all rural, urban, and suburban schools in given districts and
via special

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COMPANY PROFILE
ICICI bank:

18

ICICI Bank is a major banking and financial services organization in India. It is the secondlargest bank by revenue, profit and assets
(behind State Bank of India) and the
largest private sector bank in India by
market capitalization. The bank also has a
network of 1,700+ branches (as on 31
March, 2010) and about 4,721 ATMs in
India and presence in 18 countries, as well

as

some 24 million customers (at the end of

July 2007). ICICI Bank offers a wide range of banking products and financial services to
corporate and retail customers through a variety of delivery channels and specialization
subsidiaries and affiliates in the areas of investment banking, life and non-life insurance,
venture capital and asset management. (These data are dynamic.) ICICI Bank is also the
largest issuer of credit cards in India. ICICI Bank has got its equity shares listed on the stock
exchanges at Kolkata and Vadodara, Mumbai and the National Stock Exchange of India
Limited, and its ADRs on the New York Stock Exchange (NYSE). The Bank is expanding in
overseas markets and has the largest international balance sheet among Indian banks. ICICI
Bank now has wholly-owned subsidiaries, branches and representatives offices in 18
countries, including an offshore unit in Mumbai. This includes wholly owned subsidiaries in
Canada, Russia and the UK (the subsidiary through which the HiSAVE savings brand is
operated), offshore banking units in Bahrain and Singapore, an advisory branch in Dubai,
branches in Belgium, Hong Kong and Sri Lanka, and representative offices in Bangladesh,
China, Malaysia, Indonesia, South Africa, Thailand, the United Arab Emirates and USA.
Overseas, the Bank is targeting the NRI (Non-Resident Indian) population in particular.
ICICI reported a 1.15% rise in net profit to Rs. 1,014.21 crore on a 1.29% increase in total
income to Rs. 9,712.31 crore in Q2 September 2008 over Q2 September 2007. The bank's
current and savings account (CASA) ratio increased to 30% in 2008 from 25% in 2007.
ICICI Bank is one of the Big Four Banks of India, along with State Bank of India, ICICI
Bank and HDFC Bank its main competitors.
History of ICICI bank:

19

1955: The Industrial Credit and Investment Corporation of India Limited (ICICI)
was incorporated at the initiative of World Bank, the Government of India and
representatives of Indian industry, with the objective of creating a development
financial institution for providing medium-term and long-term project financing
to Indian businesses.

1994: ICICI established Banking Corporation as a banking subsidiary formerly

Industrial Credit and Investment Corporation of India. Later, ICICI Banking
Corporation was renamed as 'ICICI Bank Limited'. ICICI founded a separate
legal entity, ICICI Bank, to undertake normal banking operations - taking
deposits, credit cards, car loans etc.

2001: ICICI acquired Bank of Madura (est. 1943). Bank of Madura was a
Chettiar bank, and had acquired Chettinad Mercantile Bank (est. 1933) and
Illanji Bank (established 1904) in the 1960s.

2002: The Boards of Directors of ICICI and ICICI Bank approved the reverse
merger of ICICI, ICICI Personal Financial Services Limited and ICICI Capital
Services Limited, into ICICI Bank. After receiving all necessary regulatory
approvals, ICICI integrated the group's financing and banking operations, both
wholesale and retail, into a single entity. At the same time, ICICI started its
international expansion by opening representative offices in New York and
London. In India, ICICI Bank bought the Shimla and Darjeeling branches that
Standard Chartered Bank had inherited when it acquired Grindlays Bank.

2003: ICICI opened subsidiaries in Canada and the United Kingdom (UK), and
in the UK it established an alliance with Lloyds TSB. It also opened an Offshore
Banking Unit (OBU) in Singapore and representative offices in Dubai and
Shanghai.

2004: ICICI opened a representative office in Bangladesh to tap the extensive

trade between that country, India and South Africa.

20

2005: ICICI acquired Investitsionno-Kreditny Bank (IKB), a Russia bank with

about US$4mn in assets, head office in Balabanovo in the Kaluga region, and
with a branch in Moscow. ICICI renamed the bank ICICI Bank Eurasia. Also,
ICICI established a branch in Dubai International Financial Centre and in Hong
Kong.

2006: ICICI Bank UK opened a branch in Antwerp, in Belgium. ICICI opened

representative offices in Bangkok, Jakarta, and Kuala Lumpur.

2007: ICICI amalgamated Sangli Bank, which was headquartered in Sangli, in

Maharshtra State, and which had 158 branches in Maharshtra and another 31 in
Karnataka State. Sangli Bank had been founded in 1916 and was particularly
strong in rural areas. With respect to the international sphere, ICICI also received
permission from the government of Qatar to open a branch in Doha. Also, ICICI
Bank Eurasia opened a second branch, this time in St. Petersburg.

2008: The US Federal Reserve permitted ICICI to convert its representative

office in New York into a branch. ICICI also established a branch in Frankfurt.

2009: ICICI made huge changes in its organization like elimination of loss
making department and retrenching outsourced staff or renegotiate their charges
in consequent to the recession. In addition to this, ICICI adopted a massive
approach aims for cost control and cost cutting. In consequent of it,
compensation to staff was not increased and no bonus declared for 2008-09.

Board of director

Mr. N. Vagual ( chairman)

21

Mr. Sridar iyengar

Mr. Lakshami N. mittal
Mr. Narendra murkumbi
Mr. Anupam puri
Mr. Arun ramanathan
Mr. M.k. Sharma
Mr. P.m. sinha
Prog. Marti G. subrahmanyam
Mr. T.S. Vijayam
Mr. V.Prem wasta
Mr. K.V. kamath (managing director & CEO)
Mr. Chanda kochhar (joint managing director)
MR. V.Vaidyanathan (Executive director)
Ms. Madhabi puri- buch (Executive director)
Mr. Sonjog chatterjee (Executive director)

Vision and Mission:

Vision: To be the leading provider of financial services in India and a major global bank.
Mission- we will leverage our people, speed, technology and financial capital to:

Be the banker of the first choice for our customers by delivering high quality, world
class products and service.

22

Expand the frontiers of our business globally

Play a proactive role in the full realization of Indias potential.

Create value for our stakeholders

Maintain high standards of the governance and ethics.

Organizational structure of ICICI bank

ICICI banks organization structure is designed to be flexible and customer focused, while
seeking to ensure effective control and supervision and consistency in standards across the
organization and align all areas of operation to overall organizational objectives.
The organizational structure is divided into six principal groups

Retail banking
Wholesale banking
International banking
Rural and agriculture banking
Governmental banking
Corporate center banking

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Retail banking
Retail banking group is responsible for products and services for retail customers and small
enterprise including various credit products, liability product and insurance product and
transaction banking service.
Wholesale banking
The wholesale banking group is responsible for products and services for large and medium
sized corporate clients, including credit and treasury product and investment banking.
International banking
International banking group is responsible for its international operation, including
operations in various oversea markets as well as its products and services for non- resident
Indian and correspondent banking relationship.

Rural and agriculture banking

The rural, micro banking & agriculture banking group is responsible for envisioning and
implementing rural banking strategy including agriculture banking and micro finance.
Governmental banking
The government banking group is responsible for government banking initiatives.
Corporate center banking
Corporate center comprise the internal control environment function; finance, human
resitsces management, and facilities management and administration etc.

Product and services

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Banking account
ICICI bank offer a wide range of banking account such as current, saving life plus senior,
recurring deposit, young stars, salary account etc. tailor made for every customer segments,
from children to senior citizens.
Young stars account
A special portal for children to learn banking basics, manage personal finance and have a lot
of fun.

Bank @ campus

This student banking service gives students access to their account details at the click of a
mouse. Plus the student gets a check books, debit card and annual statement.

Saving account

Convenience is the name of the game with ICICI banks saving account. Whether it is a
ATM /debit card, easy withdrawal, easy loan options or internet banking. ICICI banks
saving account always keeps you in touch of money.

Fixed deposit

ICICI bank offers a range of deposit solutions to meet varying needs at every stage of life.
Insurance
The ICICI group offers a range of insurance products to cover varying needs ranging from
life, pensions and health, to home, motor and travel insurance. The products are made
accessible to customers through a wide network of advisors, banking partner, corporate
agents and brokers with the added convenience of being able to buy online.

Life insurance

25

The ICICI group provides the many life insurance products through ICICI prudential life
insurance company

General insurance

The ICICI group provides the many general insurance products like motor, travel and home,
insurance through ICICI Lombard general insurance company.
Loans
ICICI bank offers a range of deposits solutions to meet varying needs at every stage of life.

Home loan

The number.1 home loan provider in the country. ICICI bank home loan offers some
unbeatable benefits to its customers- doorstep service, simplified documentation and
guidance throughout the process.

Personal loan

ICICI bank personal loans are easy to get and absolutely hassle free. With minimum
documentation you can secure a loan for a amount upto Rs 15 lakhs.

Vehicle loan

The NO.1 financial for car loans in the country. Network of more than 2500 channel
partners in over 1000 locations. Tie- ups with all leading automobile manufactures to ensure
the best deals.
Controversy:
ICICI Bank has been in focus in recent years because of alleged harassment of customers by
its recovery agents. Listed below are some of the related news links:

ICICI Bank was fined Rs. 55 lakh for hiring goons (known colloquially as
"goodness") to recover a loan. Recovery agents had, allegedly, forcibly dragged out a

26

youth (who was not even the borrower) from the car, beaten him up with iron rods
and left him bleeding as they drove away with the vehicle. "We hold ICICI Bank
guilty of the grossest kind of deficiency in service and unfair trade practice for
breach of terms of contract of hire-purchase/loan agreement by seizing the vehicle
illegally, No civilized society governed by the rule of law can brook such kind of
conduct" said Justice J D Kapoor, president of the consumer commission.

Four ICICI loan employees arrested on theft charges in Punjab

ICICI Bank told to pay Rs. 1 lakh as compensation for using unlawful recovery
methods.

RBI warns ICICI Bank for coercive methods to recover loans

ICICI Bank drives customer to suicide - Four men including an employee of ICICI
Bank booked under sections 452, 306, 506 (II) and 34 of IPC for abetting suicide.
According to the suicide note they advised him, "If you cannot repay the bank loan,
sell off your wife, your kids, yourself, sell everything at your home. Even then if you
cannot not pay back the due amount, then it's better if you commit suicide." India
biggest private bank has compensated the life by money

ICICI Bank on huge car recovery scam in Goa - ICICI Bank invest in car-jackers to
recover loans in Goa. A half an hour investigative report on CNN-IBN's 30 Minutes.
The undercover report was executed by CNN-IBN's Special Investigations Team
from Mumbai, led by Ruksh Chatterji

Family of Y. Yadaiah alleged that he was beaten to death by ICICI Banks recovery
agents, for failing to pay the dues. Four persons were arrested in this case.

A father while talking to Times of India, alleged that "ICICI Bank recovery agents
visited his house and threatened his family. And his son Nikhil consumed poison
because of the tension".

27

Oppressed by ICICI Bank's loan recovery agents, Shakuntala Joshi (38), committed
suicide by hanging. The suicide note stated that she was upset with the ill-treatment
meted out by ICICI Bank's recovery agents and had thus decided to end her life.

In another case of a suicide it is alleged that goondas sent by ICICI Bank abused
Himanshu and his wife in front of the entire residential colony before taking away
his vehicle. Feeling frustrated and insulted, he reportedly committed suicide.

C.L.N Murthy, a scientist with the Hyderabad-based Indian Institute of Chemical

Technology, was allegedly tortured by recovery agents of ICICI Bank after he
defaulted on his loan.They humiliated me no end. They ripped my shirt, shaved my
moustache, cut my hair and gave electric shocks on my chest and even spat on my
face" adds Murthy.

A dozen recovery agents of ICICI Bank, riding on bikes, allegedly forced a

prominent lawyer, Someshwari Prasad, to stop his car. They held Prasad at gunpoint
and also slapped him to force him. A manager of the ICICI Bank branch, Rakesh
Mehta, along with four other employees were arrested.

In a landmark case, Allahabad High Court had ordered registration of an FIR against
ICICI Bank's branch manager, President, Chairman and Managing Director on a
complaint of 75-year-old widow Prakash Kaur. She had complained that goondas
were sent by the bank to harass her and forcibly took away her truck. When the
Supreme Court wanted to know about the procedure adopted by the Bank, ICICI
Bank counsel said notice would be sent to a defaulter asking him either to pay the
instalments or hand over the vehicle purchased on loan, failing which the agents
would be asked to seize it. When the Bench pointed out that recovery or seizure
could be done only legally, ICICI Bank counsel said, "If we have to go through the
legal process it would be difficult to recover the instalments as there are millions of
defaulters".

Taking strong exception to ICICI Bank's use of 'goondas' against a defaulter, the
president of Consumer Disputes Redressal Forum said, "The fact leaves us aghast at

28

the manner of functioning and goondaism in which the bank is involved for a petty
amount of Rs 1,889... such attitude is deplorable and sends chills down the
spine....The bank had the option to recover dues through legal means. They have no
legal right to snatch the vehicle in such a manner which amounts to robbery,". In this
case recovery agents pointed a pistol at a defaulter when he tried to resist. ICICI
bank argued that they had taken peaceful possession of the vehicle "after due
intimation to the complainant as he was irregular in remitting the monthly
instalments". But the court found out that the records proved otherwise.

Two senior ICICI Bank officials were booked for abducting one Vikas Porwal from
his house and keeping him hostage in the Bank's premises.

The credit card division of the ICICI Bank allegedly threatened a senior citizen in
Chandigarh with a fictitious arrest warrant on account of a default that never was.

A Consumer Commission has asked ICICI Bank MD K V Kamath to appear before it

in respect a complaint. A borrower on protesting against the forceful dispossession of
his car, as seen in the post-incident photographs, was roughed up and sustained
injuries.

An 18-year-old boy was allegedly kidnapped and detained at the Pune branch of
ICICI Bank.

There have been several other minor legal cases accusing harassment by ICICI Bank

A consumer court imposed a joint penalty of Rs. 25 lakh on ICICI Bank and
American Express Bank for making unsolicited calls.

Corporate profile:
ICICI Bank is India's second-largest bank with total assets of Rs. 3,634.00 billion (US$ 81
billion) at March 31, 2010 and profit after tax Rs. 40.25 billion (US$ 896 million) for the
year ended March 31, 2010. The Bank has a network of 2,009 branches and about 5,219
29

ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of banking
products and financial services to corporate and retail customers through a variety of
delivery channels and through its specialised subsidiaries and affiliates in the areas of
investment banking, life and non-life insurance, venture capital and asset management. The
Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in
United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International
Finance Centre and representative offices in United Arab Emirates, China, South Africa,
Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches
in Belgium and Germany. ICICI Bank's equity shares are listed in India on Bombay Stock
Exchange and the National Stock Exchange of India Limited and its American Depositary
Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).
Awards:

ICICI Bank wins the Asian Banker Award for Best Banking Security System

ICICI Bank is the first and the only Indian brand to be ranked as the 45th most
valuable global brand by BrandZ Top 100 Global Brands Report.

ICICI Bank has been ranked 1st in the term money category, from a list of 38 leading
Banks by the German magazine, Euro. Since commencement of business two years
ago in the German market, this is the 5th certification/award including 2
certifications from Stiftung warrenttest (for Savings and Term Deposits) and three
"Best Bank" rankings by Euro magazine.

Forbes' 2000 most powerful listed companies' survey ranked ICICI Bank 4th among
the Indian companies and 282nd globally.

ICICI Bank was awarded The Asian Banker Achievement Award 2009 for Cash
Management in India.

The Economic Times-Corporate Dossier Annual Survey of India Inc's Most Powerful
CEOs featured Ms Chanda Kochhar, MD and CEO, as the most powerful women
CEO in India. She was ranked 13th in the overall power list.

30

ICICI Group Global Private Clients (GPC) has won the coveted 'Euromoney Private
Banking Award 2010' for Best Bank in the Super-Affluent Category (USD 500,000
to USD 1 million) - India. The other categories in which GPC picked up awards
were:
o

Fixed Income Portfolio Management

Lending/Financing Solutions

Precious Metals Investment

Private Equity Investment

Specialized Services - Entrepreneurs

FX/Rates Derivatives Supplier

ICICI Bank wins the Asian Banker Award for Excellence in SME Banking 2009

ICICI Bank won the second prize in the Six Sigma Excellence Awards, conducted by
Indian Statistical institute, Bangalore for "Improving Sales for TV Banking
business"

Mr.N. Vaghul, Former Chairman, ICICI Bank was awarded the "Padma Bhushan"

A leader in banking technology:

ICICI Bank seeks to be at the forefront of technology usage in the financial services sector.
Information technology is a strategic tool for business operations, providing the bank with a
competitive advantage and improved productivity and efficiencies. All the banks IT
initiatives are aimed at enhancing value, offering customer convenience, and improving
service levels. ICICI Bank (NYSE:IBN) is India's second largest bank and largest private
sector bank, with assets of USD 43 billion as of September 30,2005. ICICI Bank offers a
wide range of banking products and financial services to corporate and retail customers

31

through a variety of delivery channels and through its specialized subsidiaries and affiliates.
Areas include investment banking, life and non-life insurance, venture capital, and asset
management. Specifically, ICICI Bank is a leading player in the retail banking market and
has over 14 million retail customer accounts. The bank has a network of 600 branches and
extension counters and 2,060 ATMs. ICICI Bank is growing rapidly, in part through its
online service offerings, and is considered a technology trendsetter in the Asian banking
industry.
A loyal Symantec customer for six years and counting:
The bank set the stage for its technology ascendancy in 1999 when it consolidated its IT
operations to a new data center in Mumbai. Pravir Vohra, Senior General Manager of ICICI
Banks Technology Management Group, was a key decision maker in the planning for the
new data center. We took a hard look at the banks requirements well into the future, he
says. High availability for our customer-facing applications was on the top of the list. If my
customers cannot transact, nothing else matters. An outage can be highly detrimental to the
banks reputation. As a result, the banks internal applications needed to meet high
availability requirements. And all banking data had to be protected and recovered in case of
disaster. In building the banks Mumbai datacenter, Vohra looked first to establish
relationships with suppliers that could solve a whole class of problems, not just those
suppliers who offered point solutions. To build a world- class infrastructure, we needed
world-class software to manage our applications and storage, explains Vohra. We
standardized on Symantec products for our data center because they have a well-deserved
reputation as being best in class. Also, Symantec supports all major platforms, so we can
deploy a single set of tools across the entire infrastructure, simplifying administration and
reducing training costs. An additional decision factor was Symantecs broad range of
services, from consulting to onsite education.
Targeting high availability for the end user:
To meet its datacenter availability goals, ICICI Bank runs its customer- facing services and
key enterprise applications such as Finacle Core Banking (Infosys), FinnOne Retail Loans
System (Nucleus Technologies), CTL Prime Credit Cards Processing System (Card Tech
32

Limited), and SAP on highly available servers. The data center has several Sun Fire 15K,
E6900, E2900, and E6500 enterprise- class servers and various Sun Fire mid-range servers
25 in all running the Solaris 9 Operating System. ICICI Bank deployed Oracle 9i
database and Oracle Real Application Clusters (RAC) to provide a robust database
component for its enterprise applications, while other applications such as Internet Banking
and Customer Relationship Management use Microsoft SQL Server 2000 Enterprise
Edition. The FlashSnap feature of Veritas Storage Foundation allows ICICI Bank to lower
its total cost of ownership through more efficient use of its storage infrastructure. The data
for the Finacle application is stored on a new HP Storage Works XP 12000 disk array,
Vohra relates. We make periodic point-in-time copies of the data so that we can restore the
database in case there is a corruption. While the HP Storage Works XP 12000 disk array
permits such internally via its native asynchronous data replication software, the FlashSnap
option allows us to write copies of the data onto less expensive disk arrays from Hitachi or
Sun. We avoid buying more storage hardware and get the most from our existing assets.
Investor Relations:
ICICI Bank disseminates information on its operations and initiatives on a regular basis. The
ICICI Bank website serves as a key investor awareness facility, allowing stakeholders to
access information on ICICI Bank at their convenience. ICICI Bank's dedicated investor
relations personnel play a proactive role in disseminating information to both analysts and
investors and respond to specific queries.

33

CHAPTER 2
OBJECTIVE AND SCOPE OF THE
STUDY

34

CHAPTER 2
OBJECTIVE AND SCOPE OF THE STUDY

OBJECTIVE OF THE STUDY:

The main objectives of the study are as follows:1.

To study the recruitment and Selection process in ICICI Bank. and suggest the
remedial measures.

2.

To find out the awareness about the Recruitment process and their working
methodology.

3.

To understand candidates perceptions about behavior regarding the interview of any

bank or any post, and also of Banks expectations, methodology for recruiting and
selecting a candidate.

4.

To find and analyze the various factors contributing to changing the job.

5.

To evaluate the recruitment and selection process, methodology used at ICICI Bank.

35

SCOPE OF THE STUDY:

My study will be confined to:
1.

All the employees of ICICI Bank, New Delhi.

2.

The study can be used for the further analysis and recommendations.

3.

The Bank executives can utilize the report for the purpose of financial management.
HR policies and other strategic decisions.

4.

The company can use the report to undergo in the various deals related with the
recruitment bank.

5.

Though every case has been taken to provide latest information, yet more information
and improvement can be made in future.

6.

If the bank wants to establish new branch, then this report will give sufficient
information to start HR Processes in organization.

36

CHAPTER 3
METHODOLOGY

37

CHAPTER 3
METHODOLOGY

Research methodology is the organized study of specific area of interest. It is a scientific

procedure to study the specific issue start from the root cause of the aim of the study.
The basic aim of this project to study Recruitment and Selection process and method used to
motivate them at ICICI Bank.
Data Collection
Data constitute the subject matter of analysis. One cannot draw inference without analysis
data. The relevancy, adequacy and reliability of data determine the quality of study. The
entire scientific process of measurement, analysis, testing and inference Depends upon the
availability of relevant and accurate data.
Types of Data
1. Primary Data
2. Secondary Data
Various Methods of Collecting Primary Data Is
For obtaining the primary data for my project, I propose to use two research instruments.
(a)Interview Method
(b)Through Questionnaire
(c)Through Structured Interviews, etc

Questionnaire

38

(i)

Sample Size:

(ii)

Sample Composition

25

Entry level employees,

15

Middle level employee

10

Structured Interviews
(i)

Sample Size:

(ii)

Sample Composition

25

Entry level employees,

10

Middle level employee

15

Various Methods of Collecting Secondary Data Is

I propose to get secondary data from:
(a)

Data from company Intranet.

(b)

Previous data of recruitment process

(c)

Other websites available.

39

CHAPTER-4
DATA COLLECTION

40

CHAPTER-4
DATA COLLECTION

Recruitment and Selection:

The art of choosing men is not nearly as difficult as the art of enabling those one has
chosen to attain their full worth. Recruitment is the process by which organizations locate
and attract individuals to fill job vacancies. Most organizations have a continuing need to
recruit new employees to replace those who leave or are promoted in order to acquire new
skills and promote organizational growth. Recruitment follows HR planning and goes hand
in hand with selection process by which organizations evaluate the suitability of candidates.
With successful recruiting to create a sizeable pool of candidates, even the most accurate
selection system is of little use. Recruiting begins when a vacancy occurs and the recruiter
receives authorization to fill it. The next step is careful examination of the job and
enumeration of skills, abilities and experience needed to perform the job successfully. Other
steps follow:

Creating an applicant pool using internal or external methods

Evaluate candidates via selection

Convince the candidate

And finally make an offer

Scope: To define the process and flow of activities while recruiting, selecting and appointing
personnel on the permanent rolls of an organization.

41

Authorization:
S.No.

Authorized Signatory

Head- Human resource

Managing director

Amendments and deviations:

Any amendments to and deviations from this policy can only be authorized by the Headhuman Resources and the Managing Director.
Exclusions:
The policy does not cover the detailed formalities involved after the candidate joins the
organization.
Activity Flow:
The organization philosophy should be kept in mind while formulating the recruitment
procedure.
The HR department would set the recruitment norms for the organization. However, the
onus of effective implementation and compliance with the process rests with the heads of
the respective functions and departments who are involved in the recruitment and selection
process.
The process is aimed at defining the series of activities that needs to be performed by
different persons involved in the process of recruitment, the checks and control measures to
be adopted and information that has to be captured.
Recruitment and Selection is conducted by:

HR & Branch Manager

Functional Head

42

Recruitment Planning:
Recruitment planning on the basis of budget
A. The manpower planning process for the year would commence with the companys
budgeting activity. The respective Functional heads would submit the manpower
requirements of their respective functions/ departments to the board of Directors as
part of the annual business plan after detailed discussion with the head of human
Resource Function along with detailed notes in support of the projected numbers
assumptions regarding the direct and indirect salary costs for each position.
B. A copy of the duly approved manpower plan would be forwarded by the HR
department for their further actions during the course of the year. The annual budget
would specify the manpower requirement of the entire organization, at different
levels, in various functions/departments, at different geographical locations and the
timing of the individual requirements. It would also specify the requirement budget,
which is the cost allotted towards the recruitment of the budgeted staff and the
replacement of the existing employees. The manpower plan would also clearly
indicate the exact time at which the incumbent should be on board in such a way that
the Regional HR has adequate notice for the time lapses involved in sourcing any
other activities.
C. The Regional HRs would undertake the planning activity and necessary
preparations in advance of the anticipated requirements, as monthly and quarterly
activities on the basis of the approved budget, estimated separations and
replacements therefore.
D. The vacancies sought to be filled or being filled shall always be within the approved
annual manpower budget and no recruitment process shall be initiated without the
formal concurrence of the Head of the Regional HR under any circumstance. Head
of the Regional HR shall also have the responsibility to monitor the appointments
being considered at any point of time with specific respect to the duly approved
manpower budgets.

43

Review of Manpower Plans and Additional Manpower

A. Review of manpower budgets shall take place on a quarterly basis. In the event of
any new position or any deviations to the original plans, details of the positions
maybe forwarded to the VP-HR along with the adequate supporting information. The
recommendations would normally require a formal approval of the Managing
Director. Alternately, VP-HR may record the summary of his discussion with the
Managing Director and the MDs approval on the recommendations, to signify the
final decision taken regarding the recommendations.
Sourcing Of Suitable Candidates
Selection of Sources
Regional HR would tap various sources/channels for getting the right candidate. Depending
on the nature of the position/grade, volumes of recruitment and any other relevant factors,
the Regional HR would use any one multiple sources such as:

Existing database (active application data bank);

Employee referral as per any company scheme that may be approved from time
to time;

Advertisement in the internet/newspapers/magazines/companys sites/job sites or

any other media;

Placement Agencies (particularly for positions of Managers and above);

Headhunting firms particularly for senior positions, specialist positions and

critical positions;

Direct recruitment from campuses/academic institutes;

Job websites and

44

Any other appropriate sources.

The norms for using any of the sources are not water tight. Number of positions, criticality
of positions and the urgency of the positions, confidentiality requirements, relative efficacy
and cost considerations would play a role in the choice of the appropriate sourcing
mechanism.
Advertisements:

All recruitment advertisements (in any form and any medium) shall always
conform to the KLI compliance norms and would not be released by any
department or branch without the approval of the VP-HR. depending on the
specifics of each position for which recruitment advertisements are to be
released, Regional HR may obtain assistance from the companys marketing
department and/or any external advertising agencies for the preparation of the
contents. Key features of the positions as notified by the Functional Heads would
normally form a part of the advertisement text.

The media for releasing advertisement would depend on the level of the position
being considered and the urgency of the requirements.

The advertisement mode that could be broadly specified as newspapers (local or

mainline depending on requirements), internet sites and business magazines.

Placement Agencies/Headhunting Agencies

Depending upon the vacancies, fresher fitting different description listed above
may be recruited from time to time, from academic institutes of appropriate
standards/reputation/grade,

in

the

requisite

numbers

and

at

the

compensation/stipend amounts to be formally approved of the VP-HR. Plans for

such recruitment need specific special approval of VP-HR. norms regarding the
identification of the appropriate institutes, constitution of the selection panels,
timings of the recruitment, number of candidates to be recruited into different
positions, choice of the appropriate selection process and the tools thereof shall
45

be decided by the Head of the Regional HR in consultation with the VP-HR,

depending on the specific features of the position.
Screening the candidates
First level screening
The Candidates would be screened by the HR Manager/Branch Manager for the respective
locations. Screening would be on the basis of the profile of the candidate and the
departmental requirements.
This assessment will be with respect to:
a. The general profile of the candidate,
b. Personality fit of the candidate into the profile,
c. Aptitude/attitude of the candidate,
d. Motives of the person to join the company and whether focus is in the short term or
is a long term player,
e. Basic skill level on our set of requirements, say numerically ability, networking
ability, etc
f. Establish the annual guaranteed cash compensation of the individual and check
whether the person would fit into the system.
g. Explain the role of Sales manager to the applicant and check the acceptance of the
candidate for the same.
In case of need, the Regional HR may take a Tele interview of the candidate for further
assessment process.
Second Level Screening
Aptitude Test

46

If the first assessment is positive, the candidates will give the aptitude test, once such test is
selected approved by the company. The scoring, interpretation and the generation of
interview probes from that test will also be done at this time. People who qualify the
minimum criteria on this test will be put up on to the Functional Head (VPs in case of HO)
for functional assessment and suitability into the role.
Tied Agency Sales Manager candidates short listed by the BM have will then take sales
Aptitude test, once such a test is finalized. For the final selection, the regional Manager
(Business Heads for HO) will meet the candidates short listed by the branch manager/VP.
The chart specifying the Minimum approval level for each level of recruitment is specified
below:

Category

Branch

Area

Business

Managing

Manager/Chief

Manager/AVP/VP Heads

Director

Yes

No

No

No

BIC

Yes

Yes

No

No

BM/CM

Yes

Yes

Yes

No

SM

Yes

Yes

Yes

Yes

Manager
CSE/ADVISOR
S

General Norms regarding interview Process:

A. Interviews should consider the entire data provided by the candidate either through
the formal CV or otherwise before coming to a conclusion about the candidate. They
may insist on seeing the proof of the claims made by the candidate regarding
qualifications, experience and other achievements. They may, at their discretion,

47

decide to meet the candidate on more than one occasion or to refer the candidate to
another panel.
B. Ratings on various attributes of the candidates shall be recorded in the interview
evaluation sheet, soon after the interview is over. Along with these numerical ratings,
qualitative observations about the candidate and overall decision regarding selection
or otherwise (including a decision to defer the induction, referral to another panel,
considering for another position) shall be forwarded to the associated Recruitment
Manager/ Head of Regional HR. Individual panel members have the option of
appending their additional remarks/observations. No selection will be treated as final
unless the IES form is filled comprehensively. Suitably appropriate IES formats may
be created for specific positions.
C. Any discrepancies noticed by the panel members regarding the authenticity of the
data provided by the candidate should be specifically and formally recorded on the
IES form and suitably high lightened.
D. Specific points to be probed during the reference check process, if any, must also be
clearly recorded and high lightened on the IES forms.
Administrative Actions Regarding Interviews
A. Scheduling and the venue of the interviews would be handled by the recruitment
team in consultation with the short listed candidate and the selection panel members,
after taking mutual convenience into account. For field positions, respective
branch/regional heads would undertake this co-ordination.
B. After the final round, if the candidate is selected, the complete set of papers Personal
Data Form, CV, job requisition no., Interview evaluation sheet ,reference check
details, educational details, along with the interviewers recommendations and
Reference check form should be forwarded by the recruitment managers to
recruitment head. Fitment of the candidate into a grade and compensation fitment
shall be on the assumption of authenticity of the information provided in the
CV/application form.
48

C. An appropriate formal communication shall be sent to the candidate whose

candidature is not being taken forward, or details of the verbal/telephonic
communications provided to the candidate shall be recorded on the candidates
papers, by the recruitment team/associated line managers. In the case of interviews
taking place at the branch/regional levels, similar noting should be recorded on the
individual candidates papers.
Negotiations of the terms and conditions and other pre-appointment formalities:
A. In the case of sales-Tied Agency functions, the branch managers will be allowed to
fix the salary and grade of the incoming sales manager, provided the compensation
does not exceed 20% of the candidates current cash salary. Any fitment beyond this
norms will need the approval of Head-HR. HR will forward a worksheet to support
the BMs to evaluate the appropriate cash CTC of the incumbent. For all other
functions, the compensation and grade would be fixed post a discussion between the
Head of the Regional HR and the associated AVP/VP. Any candidate being offered a
CTC of more than 4lacs will need the sign off from HEAD-HR. In appropriate cases,
at the discretion of the VP-HR, a deviation may be referred to the Managing
Director, for the MDs formal approval.
B. Responsibility for negotiations and finalization of the terms shall rest with the best
Branch Manager/Associated Manager. They may seek the assistance of the
recruitment managers, whenever required. Reference checks process should not
normally be initiated unless the candidate has indicated his firm acceptance of the
offer being made by us.
Reference checks
A.

Normal, reference checks should be undertaken with at least one reference. A

second reference check will be done if considered necessary. Responsible officials
from the former employers, academic institutes and/or any other eminent
personalities can be considered as appropriate references. Close relatives and friends
cannot be considered as references. Wherever feasible and considered appropriate, a

49

reference should be made with a senior official of the candidates current employer.
In case the candidate is currently un-employed, reference should be made with the
latest employer. The format of reference check is to be used as a framework for
conducting the process.
B.

Where the minimum two reference checks are not possible (particularly with the
current employer) or where there is a mixed response from different sources, the
matter may be to the VP-HR for a final decision. Depending on the seniority and any
other considerations about the positions, VP-HR would normally consult the
functional head concerned, before coming to conclusions. Any candidate whose
credentials are doubtful shall not be recruited.

C.

In case of recruitment of Management trainees, fresher and life advisors as sales

Managers no reference checks will be required.

Employment offer letter

A. When a recruitment Manager is fully satisfied about the selection of the right
candidate and about completion of all the formalities connected with the
appointment of candidate including requisite documentation, satisfactory reference
check reports and medical fitness, he/she would forward the relevant papers listed
below to the head of recruitment.

Personal Data form

Employee requisition form duly filled by the regional Head/Branch Manager

Interview

evaluation

sheet

filled

by

the

regional

head/Branch

manager/interviewer with his/her comments.

Latest and updated resume of the candidate

Photocopy of the appointment letter of the last employer or latest salary slip.

Employment details.
50

Two Professional references.

Language Proficiency.

Document check list for every grade is as follows:

Authorization Release Form.

Background check Form.

Highest Education certificate.

Highest Education marksheet.

1 Month Salary Slip of Current Employer.

1 Month Salary Slip of Last Employer.

Relieving Letter of last Employment.

Proof of Residence.

2 Passport Size Photograph.

Regional HR manager will take the signature of Head-HR on the employee requisition form
and forward the papers to the employee service team for issuance of the offer letter.
D. Employee services team will issue offer letter, to be signed by the National
Recruitment Manager or Chief Manager-HR, and send the same to the concerned
Branch Manager/ HR Manager.
E. It would be the responsibility of the Branch Manager/HR Manager to ensure that the
accepted copy of the offer letter is forwarded to the employee service team within a
week of receipt of the offer letter. Till this letter is issued, the offer has not taken
place in formal sense. A copy of the offer letter shall be duly signed and returned to

51

the candidate. Candidate would be expected to fulfill various joining formalities,

which are also formally communicated to him/her in the form of a checklist that is
attached to the letter of offer. The Regional HR head shall have the overall
responsibility and accountability to maintain the templates of the offer letters and
also for drafting of suitable non-standard terms to any specific candidate.
F. The employee service team will follow up Branch Manager/Regional HR Manager
for the joining of the candidate and will collect all relevant documents from the
candidate including the joining report, before issuing the appointment letter. The
employee service team may enlist the help of the Branch Manager to ensure that all
necessary documents within ten days o the person joining. After all necessary
documents, the employee service team will send the appointment letter to the new
joinee.
G. Once the documentation is complete for the new joinee (including the accepted
appointment letter), people who may have joined before 20th of the month but have
not been included in the payroll for the month because of delay in receipt of papers
will be given ad-hoc salary advance (up to maximum of 65% of the pro rated salary).
This advance will be adjusted once the person gets included in the subsequent
months payroll.
H. If the person does not submit the relieving letter from the previous organization,
where required to be submitted as per the table given above, within three months of
joining, the employee service manager can put their salary on hold till such time as
the said documents are received.
Key tasks of Regional HR Head
Regional HR Head will have the authority and responsibility to administer/implement the
recruitment and selection process as outlined. An illustrative list of the key deliverables of
these incumbents is listed below.

Ensuring inductions as per quality, numbers, time and cost consideration of the
company in accordance with the approved manpower budget.
52

Creation of appropriate sourcing mechanism along with tracking the

performance of these mechanisms.

Creation of quarterly and monthly recruitment plans

Effective coordination with external parties such as candidates, placement

agencies, consultants, academic/professional institutes and any other including
the custody of the formal agreements , tracking timely payments and adjusted
thereto

Creation of comprehensive and appropriate tools, linkages, documents, templates

and any other mechanisms to ensure smooth execution of the process
requirement, along with timely improvements thereto

Assistance

to

user

department

and

line

managers

including

in

interviewing/selection support, scheduling etc.

Effective internal communication with user departments and line managers

including making the standard recruitment formats and other templates easily
available to such users and notifying the modifications to such formats and
templates.

Creation and maintenance of qualitative information base regarding candidates,

placement agencies, campuses, institutes, and any other employment-market
information.

Creation and maintenance of appropriate and high-quality MIS for current and
future needs of the organization, including publication/circulation of appropriate
reports there from to the relevant users within the company.

Monitoring recruitment costs

Complete documentation for the entire recruitment and selection process for easy
and quick retrieval in a readily auditable format

53

Timely and effective communication with all internal and external parties
including the candidates

Tracking the progress of the selected candidates including resignation, extensions

of probation periods/training period, etc for the purpose of improvement to
recruitment and selection process.

Effective coordination with the post recruitment arm of the Human Resource
function

Documentation and creating MIS regarding waiver, deviation, etc and identifying
the key areas for improvement in the formal recruitment and selection process
document.

54

SWOT Analysis of ICICI Banks Recruitment Process

Strengths

Weaknesses
Pre assessment tests are costly.

Rigorous Pre-Hiring assessment tests to

understand aptitude and personality of

Conversion of footfalls is low.

candidates.

Lengthy pre-offer formalities.

Proper reference checks to ensure that only

Huge employee turnover.

bonafide candidates are appointed.

Adequate number of channel partners to
generate footfalls for each location.
Footfall MIS being maintained at each
branch locally by Admin.

55

Opportunities

Threats

Campus recruitments have huge potential

Increasing number of private players in

for fulfilling manpower requirements cost insurance sector creates ample choices,
effectively.

frequent and easy mobility for employees.

Tie up with recruitment agencies on

Same channel partners are handling all

supplying fixed number of footfalls week insurance companies. This leads to same
on week.

pool of candidates being circulated to all

Develop exclusive contract with channel partners.

partners

to

meet

the

manpower

Increasing spill over as a candidate has

requirements.

more than one offer at the time of making a

Make blue form brief and to the point.

job shift.
As the insurance industry is small, senior

Reduce turn around time of making an

offer.

level candidates hesitate to meet HR of

other companies for the fear of grapevine.

CHAPTER 5
DATA ANALYSIS
56

57

CHAPTER 5
DATA ANALYSIS
1. Working period in the organization
Less than 2 years

20%

2 to less than 4 years

45%

4 to less than 6 years

30%

More than 6 years

5%

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The above mentioned graph shows that 45% respondents are working in the organization
from 2 years to less than 4 years and 5% respondents working in the organization more than
6 years.
2. Trend Analysis:
On The basis of their Source of recruitment
Ads/Jobs Sites

13%

Employee Referrals

13%

Consultants

33%

Direct

41%

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The Source of recruitments that had maximum number of back outs is Direct with 41 %
followed by consultants which is 33 %. Advertisements and Employee Referrals are 13 %
each.

3. Types of candidates
Outstation Candidates

55%

Local Candidates

45%

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4. Analysis based on the reasons given by the candidates for back out
This analysis is based on the responses received after speaking to people who backed out
during the last financial Year. The following Reasons were identified after analyzing the
responses collected from respondents.
Reason for Backout:
The percentages have been calculated from the total number of people contacted.
Lengthy interview

10%

Delay in feedback

23%

Better offer

27%

Brand issues

18%

Others

22%

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This pie chart depicts that the maximum number of people are backing out as they have
better offers in hand, followed by 23 % who backed out due to delay in giving feedback. 13
% of them backed out as they were not happy to get associated with a Growing brand.
Lengthy Interview process contributed t 10% of the back outs and the remaining 27 % had
other reasons to back out.
Most common reasons for back outs:
Varied reasons can be attributed as to why a candidate back out, below are some of the
common ones

Have in hand several offers and will decide on the one best offer

Developing cold feet at the last moment before submitting his/her resignation letter

HR/Line Manager convinced him/her to stay back

Was given a very good counter offer by employer so decided to stay back

Not serious about leaving current job, and attending interviews just because the
opportunity was presented to him/her.

Learnt of the project which was not to his liking/preference/expectation and is not
keen on joining

The final offer not up to his/her expectation

Did not agree with some of the clause(s) in the offer letter/appointment letter

His/her friends/contacts gave negative feedback about the organization so decided

not to join

Required joining time not reasonable

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See what offer he/she can get from the market to negotiate a better salary with
existing employer Selection process took too long and has already accepted another
offer

b) On the basis of their area of Stay:

This analysis would help in knowing that from which region maximum number of people is
backing out as there could be a possibility that outstation candidates are more prone to
backing out.
Repercussions & affects of backing out:

Recruitment is an expensive activity. Every time a candidate backs out the

recruitment process has to be initiated all over again.

Good amount of time and effort is wasted to find a new replacement and projects can
and do get delayed and all these translates to revenue lost

But most important of all is the lost of clients trust. This is non tangible and will
have long term adverse affect vis--vis client vendor relationship.

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5. The satisfaction of the candidates with the explanation of job profile provided by
them
5 (Extremely Satisfied)

7%

18%

20%

40%

1 (Extremely Dissatisfied)

15%

The 15% respondents are extremely satisfied with explanation of job profile but 7%
respondents are extremely dissatisfied with explanation of job profile.

6. The preference of selecting candidates

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Experience

31%

Age

10%

Gender

5%

Educational Qualification

25%

Professional Qualification

29%

The above mentioned graph show that 31% respondents selecting the candidates on the basis
of experience and 25% respondents selecting the candidates on the basis of education
qualification.

7. Motivate and attract the candidate

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Company Profile

10%

Job Profile

12%

Salary

27%

Facilities

25%

Designation

17%

Location

9%

According to 27% respondents they motivate and attract the candidates by salary.

8. Percentage of Backout
0-5%

30%

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6-10%

35%

11-20%

27%

More than 20%

8%

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9. The most important area for the improvement to minimize the back-out of the
candidates.
Initial Counseling

30%

Company Profile Description

26%

Breakup of Salary

20%

Job Profile Description

24%

According to the 30% respondents initial counseling is the most important area for
improvement to minimize the back-out of the candidates.

68

CHAPTER -6
RECOMMENDATIONS &
SUGGESTIONS

69

CHAPTER -6
RECOMMENDATIONS & SUGGESTIONS

Compress the "white space" in your hiring process.

White Spaces are delays in hiring process that are unproductive, waste time, and virtually
assure you'll lose talented candidates. Often the longest delays occur between critical
selection events. For example, a recruiter may need several weeks to screen a few hundred
resumes from the Web job boards, or candidates who make it through screening may wait
weeks to interview with a hiring manager.
Here at ICICI Bank, the delays occur when the outstation candidates are called for
interviews at Regional branches like Delhi and Mumbai. Sometimes, because of busy
schedule of senior managers and sometimes because of tight schedule of candidate, the
interview has to be postponed. This delay could be minimized by scheduling interviews in
the regional locations. It is recommended to reduce the turnaround time for the recruitment
and selection process. It must be made mandatory for the candidates to take the test, filling
up forms etc within the stipulated time, this will make sure that the candidates do not hold
casual attitude and take the recruitment process more seriously. Additionally it can send
across a positive image about the company. White space in recruitment can be compressed
by the use of IT also. Technology (such as automated or Web-based tracking) is ideal for
eliminating unnecessary steps and reducing delays.
Tie up with more & more consultants from multiple segments
Since the limited placement agencies are sourcing candidates to all insurance companies,
there often comes the problem of duplication of data. Therefore it is recommended that more
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and more consultants should be tied up from multiple segments to attract large pool of new
and fresh talent.

Know what you're looking for in candidates

It is observed that the candidates sourced by placement agencies and send for further rounds
of interviews are rarely found suitable by the hiring managers. Therefore, in case there is
need to utilize the service of a placement agency, then it is recommended that these
placement agencies be given a well drafted job description and job specification. This can
also be circulated to internal employees under the employee referral scheme. This will help
people to get a clearer picture and provide for most suitable candidates.
Reduce the pre offer formalities:
Pre-offer documentation includes filling of a lengthy Blue form which includes all personal,
educational and professional details of candidate. This is very time consuming and even
after taking these details from candidate its not sure that offer will be made or not. This also
becomes frustrating for the candidate sometimes. So, it is recommended that unnecessary
details should not be asked before we make the final offer to the candidate. Blue form
should be made consise.
One size doesnt fits all
An effort must be made to study local condition, education levels. Since applying common
test for all candidates across entire country can overshadow a candidates capabilities. This
factor must be given importance since Indian society is divided on various parameters such
as education, language, infrastructure etc. A test with high level of English and complicated
sentence structure can be a hurdle in areas where language itself is barrier. An option is to
have different tests for different regions.
Blend technology into every aspect of your recruiting and hiring process.

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Web-based technology lets you increase hiring speed and quality while reducing costs.
Currently, job boards constitute the biggest use of the Web, offering access to thousands of
resumes within hours. But the Web can also be a powerful tool for screening and qualifying
that flood of resumes. Companies have begun to use the Web to collect and instantly match
data on candidate skills, motivations, and experiences against job criteria. Other uses of
Web-based technology include online interviewing, candidate assessment and testing,
applicant self-scheduling, and tracking. Work the Web wisely and you save time for
recruiters and hiring managers and nab top candidates before your competitors can.
It is recommended that apart from the person-job fit, method must be devised to check for
person-organization fit. A person-organization helps to assess how well a candidate is suited
the organization. Whether the attitude he/she carries will promote both organizational as
well personal goals. This takes a great importance especially when attrition is high. It will
help the organization to retain its employees for a longer period of time and less burden on
recruitment staff.
Build and manage your candidate pool as a precious resource
A "candidate pool" is a group of individuals who have shown interest in working for your
company and are qualified for and ready to fill certain positions. Rather than undertaking
the time-consuming process of filling one job at a time, you draw on the candidate pool and
fill jobs as they become available. How do you keep a pool active? Some companies send
their newsletters to pool candidates, give them product coupons, and keep in touch through
e-mail. Pool management is not easy in a tight labor market --good candidates often go
elsewhere. But many organizations, especially those with a reputation as a great place to
work, are able to fill positions quickly using the pool concept.
Create winning impression even on those who are not selected
Its very important to create a favorable impression of your organization on all those who
come for interview. Those who are not selected in the first round of personal interview
should also carry this impression that they have missed the opportunity to work in a great
company. For this, there must a proper coordination of the interview of the candidate and
greater degree of professionalism. A candidate when invited for a interview must be
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attended as soon as possible and should be made to wait for hours together. Interviews
conducted on a scheduled time leave a good impression on the candidate. Even if he is not
selected, a good impression about the will make him recommend the name to his people.

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CHAPTER-7

CONCLUSION & IMPLICATIONS

74

CHAPTER-7
CONCLUSION & IMPLICATIONS
Insurance is confronted with high attrition rate. Therefore it makes recruitment a critical
function in the organization. In order to grow and sustain in the competitive environment it
is important for an organization to continuously develop and bring out innovations in all it
activities. It is only when organization is recognized for its quality that it can build a
stability with its customers. Thus an organization must be able to stand out in the crowd.
The first step in this direction is to ensure competitive people come in the organization.
Therefore recruitment in this regard becomes an important function. The organization must
constantly improvise in its recruitment process so that it is able to attract best in the industry
in order to serve the best. Thus the organization must look out for methods that can enable it
to adopt best recruitment practices.
Every endeavor undertaken to accomplish challenging goals, can only be successful under
the experienced and encouraging guidance. I am privileged to have undergone training at
ICICI Bank. As learning never stops, my learning at Kotak has come from a lot of exposure,
on the job training and close interaction with the corporate. In brief my learning and
achievements can be summarized as under:

Understanding of person and profile fit.

Convince people about the job profile and to sell the job to the prospective
candidate;

Following up with the candidates during the entire selection process;

Learned to convince candidates about the offer rolled out and making them
accept the offer through effective communication;

Learning about salary fitments.

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Communicating with the corporate;

Performance appraisals, its various types, implications and significance;

Handling queries received from various quarters;

Managing HR department in the absence of HR manager;

Reply to official mails;

Prioritize issues according to their importance;

Field work exposure to tap candidates that further strengthened the learning.

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Modern Productivity Paradox," American Economic Review (Papers and Proceedings),
80:2, pp. 355-61.
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331-348.
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11. McManus M.A., Ferguson M.W. (2007). Biodata, Personality and Demographic
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COPY OF THE QUESTIONNAIRE

Name___________________ Designation___________________
Contact No.______________ Gender_______________________
Should you wish to continue?

Yes (Continue)

No (Terminate)

Q1. Please tell me for how many years you have been working in this organization?

Less than 2 years

2 to less than 4 years

4 to less than 6 years

More than 6 years

Q2. Please tell me the source of recruitment in your organization.

Ads/Jobs Sites
Employee Referrals
Consultants
Direct
Q3. Please tell me about the types of candidates for recruitment and selection.
Outstation Candidates
Local Candidates
Q4. Please tell about the reason for Backout in your organization.
Lengthy interview
Delay in feedback
Better offer
Brand issues
Others

79

Q5. Please rate the satisfaction of the candidates with the explanation of job profile provided
by you on the scale of 1 to 5 where 1 means extremely dissatisfied and 5 mean extremely
satisfied.
5

Extremely Dissatisfied

1
Extremely Satisfied

Q6. Please tell me the preference of selecting candidates for the following factors.
Experience
Age
Gender
Educational Qualification
Professional Qualification
Q7. Please tell me how do you motivate and attract the candidate for the jobs. Select from
the following
Company Profile
Job Profile
Salary
Facilities
Designation
Location
Q8. Please tell me the percentage of back-out in the typical selection process for a job as per
best of your knowledge?
0-5%
6-10%
11-20%
More than 20%

80

Q9. Please tell me which area do you think more important for the improvement to
minimize the back-out of the candidates?
Initial Counseling
Company Profile Description
Breakup of Salary
Job Profile Description

Thanks for your co-operation.

I am assuring you that your information will be kept confidential and
solely used in this research study only.

81