INDUSTRY PROFILE

INDUSTRY PROFILE Real estate is a business, not a profession. Real estate is sometimes inaccurately spoken of as a profession, but it is essentially a business. A profession applies science, art or learning to the use of others, the profit to the professor or person applying it being incidental; whereas a business is engaged in primarily for profit, and the profit is to the one engaging in the business. A profession implies professed attainment in special knowledge. A person may engage in business with or without special knowledge and no one else is concerned with the question whether he has any knowledge of the business, because no one else is affected by the result. If he is successful the rewards are his; if he fails he bears the loss. But let him attempt to practice a profession and, if he be unskilful, others are directly affected, and the fact that his reward is diminished thereby is merely incidental to the fact that others suffer Ethics of the business: whether real estate is a business or a profession has no connection at all with the body of ethics governing it. Every business can be conducted upon a plane ethically as high as the ideals of any profession, and the men who have been conspicuously successful in the real estate business have attained success because they have applied to their business the highest ideals of commercial fair dealing. This does not mean that there is any ethical requirement for the seller or the purchaser to give away anything which belongs to him, or for either one to disclose to the other his necessity for selling or his requirements for buying; but the bargain having been made, it is absolutely necessary that it be lived up to by both parties, according to its intent; and, if there be any doubt of the intent of the bargain as it is expressed in writing, that the spirit of the transaction be carried out rather than that the catch words of a written instrument should govern. Cases are frequent of men who to their own detriment perform the thing which they have promised to do although not legally obligated, and the bigger and more successful the man who makes the promise the more surely will it be carried out. Important obligations are often incurred upon the mere promise of a well-known man to sell an important piece of property at a definite price, although no legal and enforceable obligation exist; and the promise is always redeemed if it is made by a man who knows the business, and it is redeemed not merely from altruistic motives, but also for purely business reasons.
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The Real Estate Boom: Indian real sector has seen an unprecedented boom in the last few years. This was ignited and fuelled by two main forces. First, the expanding industry sector has created a surge in demand for office-building and dwellings. The industrial sector grew at the rate of 10.8 percent in 2006-07 out of which a growth of 11.8 percent was seen by the manufacturing sector. Second, the liberalisation policies of government have decreased the need for permissions and licenses before taking up mega construction projects. Opening the doors to foreign investments is a further step in this direction. The government has allowed FDI in the real estate sector since 2002. FDI was deemed necessary in the view of making the sector more organised and increasing professionalism. The villages adjacent to the metro cities have experienced skyrocketing land prices. This has induced famers to sell their land for good money.

Divisions of the business: The principal divisions of the real estate business are investment, operation and agency. These differ from one another according to the aims of the persons engaging in them and the methods by which those persons expect to make their gains. To conduct either of the first two divisions of the business, investment or operation, actual money capital is required. The
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most important capital in the agency business is the good will of its customers, and that can be husbanded, increased and made very valuable. Investment is the employment of capital in the acquisition of real estate or interests therein for permanent ownership or actual use of the person acquiring it. Operation is the employment of capital in the acquisition or improvement of real estate or interests therein for commercial operations. Agency is dealing in or with real estate on behalf of others. Investment in real estate is generally made for either of two purposes: (a) To derive an income, (b) To hold for resale in expectancy of an increase in value. Investment for income may be for one of two purposes, (1) The derivation of rental-that is, the direct return for the use of real property for definite periods, or (2) The obtaining of income through others upon money lent on the security of real property. Operation.-Real estate operation may be carried on (a) For the purchase and sale of land, (b) For the purpose of building, (c) For the purpose of lending money upon mortgages. The purchase and sale of land is that branch of operation which concerns itself with dealing in land as a thing to be bought and sold for profit and loss. It may be divided into two parts: (1) Speculation, pure and simple, by which land is bought in the hope of a rise in value and resold when that hope is either realized or known to be unfounded. (2) Development of land, the most conspicuous part of which is the development of vacant tracts by buying them wholesale in their wild condition, making them marketable by bringing them to such a state of development as is implied by putting streets through them, pre-paring them for use and then
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selling them in small parcels. This is a most important and useful part of the commercial side of the real estate business, and has resulted in the development and settlement of many parts of the count. That portion of real estate operation which concerns itself in building may be similarly divided into, (a) Speculative building which consists in building structures primarily for sale, and not necessarily for the use of the constructor, and (b) Building for investment which consists of the erection of structures for rental or primarily for the use of the person conducting the operation. That form of operation which is concerned with the lending of money upon real estate security is divided into two parts, (a) The making of permanent loans, (b) The making of building or temporary loans. Permanent loans are moneys lent upon mortgages at current rates of interest, the security being deemed by the lender sufficient to afford an ample margin between the amount of the loan and the actual value of the property, the sum being loaned usually for a definite time. Building and temporary loans are moneys lent for investment in property, to aid either in putting structures upon it, repairing structures or in the development of wild tracts, the intention being that the money be repaid when the development or reconstruction is finished. Because of the greater risks in the operation and the greater necessity for supervision by the lender, there is compensation in an increased rate of interest over and above the fair value of the loan of the money. For that reason it is to the interest of the borrower that the loan be made permanent and not temporary as soon as may be. Agency is that branch of the real estate business which engages the attention of the greatest number of persons who are concerned with the business, and in that respect it is of prime importance. It is divided into two parts, brokerage and management.

Real estate, property and real property defined.-Real estate is a form of property. Property is the right to possess and use. Real property, a technical legal word, is the right to possess and use land for a time which may last for a life or lives or longer. All other property is, in the eyes of the law, personal property. A lease for 999 years, which is not measured by any life, but which
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must expire at a definite time, is less in term of time, in the eyes of the law, than a conveyance of a piece of land, the duration of which is measured by a life or by several lives. When we speak of real property we use the words in their technical legal sense. When we speak of real estate as a commodity and as a business, it embraces the various parts of the business which engage the attention of those who follow it as a vocation, and includes interests which in the eye of the law are not real property, as for example, leases, mortgages, etc. Every business has in view finally, commercial transactions resulting in the transfer of property of some kind; so in our study of the real estate business we have in mind the transfer of title to real property, and among the various subjects we shall consider, are the interests which there may be in land, limitations on ownership, the making of a contract, the conveyances used, the liens which may affect a piece of propertyall of which have an important relation to a final commercial transaction, the transfer of title to real property. The methods of dealing in real estate and the laws governing it are not arbitrary and were not made for the mystification of others or for the purpose of multiplying legal fees. All systems of law are expressions of two things, the historic customs of the people whom they affect, and the modification of those customs, as changes made those modifications advisable.

COMPANY PROFILE

COMPANY PROFILE

Indiabulls Real Estate (IBREL), incorporated in 2006, is Indias third largest property company. It has various development projects in the residential, commercial, hotels, malls, and Special Economic Zone (SEZ) segments. IBREL's projects portfolio includes high-end office and commercial spaces, premium residential developments, integrated townships, luxury resorts and SEZs. IBREL has projects with total land area in excess of 10000 acres

Projects Commercial Development Under this it has various projects for

developing commercial infrastructure. It has projects such as One Indiabulls Centre, Elphinstone Mills and Goa Luxury resort project.

Residential development Under this segment it has several residential

developments across country such as Castlewood, Gurgoan Housing, Sonepat Township, Chennai township and Mumbai township.

Special Economic Zone (SEZ) It is also in development of SEZs such as

Raigarh SEZ, Nashik SEZ and Thane SEZ. It has also entered into retailing and will be opening Indiabulls Megastore and Indiabulls Mart in the coming years. IBREL also ventured into the power business on September 2007. It is developing power projects across country and internationally. It participating in coal-based thermal, hydro and renewable energy projects with aggregate capacity of 9412 MW

Recognition
IBREL's commercial project One Indiabulls Centre (One BC) has received a LEED (Leadership in energy and Environmental design) gold rating. It is among 100 gold rated buildings in the world.

INDIABULLS FOUNDATION
India has witnessed an economic transformation over the past two decades, translating into higher incomes, better educational opportunities, improved infrastructure, a dynamic private sector, and leadership in the global community. We have much to be proud of.

But we also recognize that we have a long way to go. Over 700 million people live under $2 a day. Learning levels in schools remain abysmally low, most of our rural population do not have access to basic health care, regular electricity, clean water, and sanitation. India has some of the worlds worst statistics on basic development indicators such as malnutrition, infant mortality, and gender discrimination.

As a society, we are at the confluence of accelerated economic progress and extreme deprivation, all in the same country, at the same time.
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Investments to increase income levels of our poorest people will expand business opportunities manifold. Investments to improve education, health and skills training will improve the efficiency of the economy. Protecting our environment will actually lower our costs of doing business. Providing our youth with gainful employment and a chance to improve their lives will ensure societal and political stability- setting a strong foundation for economic sustainability. All of these investments will help create an inclusive society, ensuring a sustainable return to our shareholders. The Indiabulls Group is keen to help in building an inclusive and prosperous society and we are beginning our efforts in this direction through Indiabulls Foundation. One of the first initiatives of the Foundation is to support the development of rural districts. Our aim is to support development across multiple domains in a district based approach. Some of the areas where we want to help are in economic development and skills training, access to drinking water, school education, public health, agriculture and support to the local government

GENESIS

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In middle of 1999, when e-commerce was just about starting in India, Sameer Gehlaut and his close IIT Delhi friend Rajiv Rattan got together and bought a defunct securities company with a NSE membership and started offering brokerage services . A Few months later, their friend Saurabh Mittal also joined them. By December 1999, the company embarked on its journey to build one of the first online platforms in India for offering internet brokerage services. In January 2000, the 3 founders incorporated Indiabulls Financial Services and made it as the flagship company. In mid 2000, Indiabulls Financial Services received venture capital funding from Mr L.N. Mittal & Mr Harish Fabiani. In late 2000, Indiabulls Securities, a subsidiary of Indiabulls Financial Services started offering online brokerage services and simultaneously opened physical offices across India. By 2003, Indiabulls securities had established a strong pan India presence and client base through its offices and on the internet. In September 2004, Indiabulls Financial Services went public with an IPO at Rs 19 a share. In late 2004, Indiabulls Financial Services started its financing business with consumer loans. In March 2005, Indiabulls Properties Private Ltd, a subsidiary of Indiabulls Financial Services, participated in government auction of Jupiter Mills, a defunct 11 acre textile mill owned by NTC in Lower Parel, Mumbai. Indiabulls Properties private Ltd won the mill in auction and that purchase started Indiabulls real estate business. A few months later, Indiabulls Real Estate company pvt ltd bought Elphinstone mill in Lower Parel, another textile mill auctioned by NTC. With real estate business gaining size, Indiabulls Financial Services demerged the real estate business under Indiabulls Real Estate and each shareholder of Indiabulls Financial Services received additional share of Indiabulls Real Estate through the demerger. Subsequently, Indiabulls Financial Services also demerged Indiabulls Securities and each shareholder of Indiabulls Financial Services also received a share of Indiabulls Securities. In year 2007, Indiabulls Real Estate incorporated a 100% subsidiary, Indiabulls Power, to build power plants and started work on building Nashik & Amrawati thermal power plants. Indiabulls Power went public in September 2009. Today, Indiabulls Group has a net worth of Rs 16,796 Crore & has a strong presence in important sectors like financial services, power & real estate through independently listed companies and Indiabulls Group continues its journey of building businesses with strong cash flows

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BUSINESSES

Indiabulls Group is one of the country's leading business houses with business interests in Power, Financial Services, Real Estate and Infrastructure. Indiabulls Group companies are listed in Indian and overseas financial markets. The Net worth of the Group is Rs 16,844 Crore and the total planned capital expenditure of the Group by 2013-14 is Rs 35,000 Crore.

INDIA BULLS FINANCIAL SERVICES

INDIA BULLS POWER

INDIA BULLS
INDIA BULLS REAL ESTATE

INDIA BULLS SECURITIES

Indiabulls Power is currently developing Thermal Power Projects with an aggregate capacity of 5400 MW. The first unit is expected to go on stream in May 2012. The net worth of Indiabulls Power is Rs 3,919 Crore. The company has a total capital expenditure of Rs 27,500 Crore. The company has been assigned 'BBB' rating.

Indiabulls Financial Services is one of Indias leading non-banking finance companies providing Home Loans, Commercial Vehicle Loans and Secured SME Loans. The company has a net worth of Rs 4,661 crore with an asset book of Rs 19,796 Crore. The company has disbursed loans over Rs 50,000 Crore to over 3,00,000 customers till date. Amongst its financial services and banking peers, Indiabulls
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Financial Services ranks amongst the top few companies both in terms of net worth and capital adequacy. Indiabulls Financial Services has been assigned AA+ rating and has presence in over 87 cities and towns with a total branch network of 170 branches.

Indiabulls Real Estate is among India's top Real Estate companies with development projects spread across residential complexes, integrated townships, commercial office complexes, hotels, malls, Special Economic Zones (SEZs) and infrastructure development. Indiabulls Real Estate partnered with Farallon Capital Management LLC of USA to bring the first FDI into real estate in the country. The company has a networth of Rs 7,505 Crore and has purchased prime land, mostly in the metros and other Tier 1 cities worth Rs 4,000 Crore in government auctions alone. Indiabulls Real Estate is currently developing 61 million sqft into premium quality, high-end commercial, residential and retail spaces. The company has been assigned 'A+' rating.

Indiabulls Securities is one of India's leading capital markets companies providing securities broking and advisory services. Indiabulls Securities also provides depository services, equity research services and IPO distribution to its clients and offers commodities trading through a separate company. These services are provided both through on-line and off-line distribution channels. Indiabulls Securities is a pioneer of online securities trading in India. Indiabulls Securities in-house trading platform is one of the fastest and most efficient trading platforms in the country. Indiabulls Securities has been assigned the highest rating BQ-1 by CRISIL
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ORGANIZATION CHART AND PRODUCT PROFILE

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ORGANIZATION CHART
S.No 1 2 3 4 5 6 Name Ravi Telkar Sameer Gehlaut Rajiv Rattan Saurabh K Mittal Narendra Gehlaut Vipul Bansal Designation Company Secretary Director Director Director Joint Managing Director Joint Managing Director

Year Month Product Name Fabric Cement 2010 2010 2010

Sales Sales % of STO Quantity Value(Rs.Million) 03 989.98 38.37 11.29 03 201190.66 18.08 5.32 03 2119.00 9.87 2.90

Company DLF Unitech Oberoi Realty HDIL Jaypee Infratech Godrej Properties Ltd. IBull Real

Sales Curren Market 52-Week Chang P/E (Rs.Million t Cap.(Rs.Million High/Lo e (%) Ratio ) Price ) w 24192.08 216.90 -0.96 30.60 381265.01 397/208 19124.43 32.00 -0.93 17.26 88038.53 98/31 3898.25 14919.92 6406.55 1435.71 339.90 232.20 158.10 50.45 662.00 102.05 -0.94 43.88 -1.19 1.41 8.01 4.91 74837.18 71837.19 70488.37 47442.13 44653.16 307/210 300/123 100/50 823/536 219/99

-0.20 44.66 -1.83 97.49

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Prestige Estate Proj Phoenix Mills Sobha Developers Omaxe Anant Raj Inds Puravankara Projects Parsvnath Developers DB Realty Sunteck Realty MVL Peninsula Land Ackruti City MahLifeSc Ashoka Buildcon IVRCL Assets & Hold Brigade Enterprises SRS Real Infra Ahluwalia Contr Ansal Properties Ajmera

9496.67 1157.72 14560.89 7949.66 2868.10 5038.18 7711.44 2266.12 163.84 1935.83 7608.77 4820.20 3206.53 10020.84 1937.53 3246.88 3079.78 15676.87 7273.24 235.73

124.30 192.00 244.10 123.10 64.50 89.50 42.00 74.70 294.10 26.60 50.00 192.90 340.75 243.00 49.85 73.05 37.85 113.10 39.40 146.50

0.04 21.25 1.53 31.09 -0.53 13.28 1.03 34.39 -0.92 12.10 -0.56 23.41 -2.44 25.46 0.88 0.07 2.31 71.16 -1.19 6.36 7.48 305.9

43256.53 28389.71 24221.78 21496.27 20258.36 19635.04 19213.25 19132.30 18449.10 15842.76 15635.27 14656.28 14496.48 13529.06 9576.55 8362.77 7769.27 7556.61 6555.91 5560.48

232/104 269/160 404/185 156/91 160/61 145/90 75/25 475/66 714/275 57/16 80/47 555/183 561/300 362/226 143/45 158/75 50/28 243/101 98/33 297/129

0.81 8.55 0.62 14.07 -1.62 15.97 1.84 0.21 0.00 7.01

0.53 89.48 -1.09 10.68 -1.01 8.61

-0.85 52.86
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Realty&Infr a Newtime Infra Shristi InfraDev Cor Orbit Corporation BL Kashyap Ganesh Housing Corp JMC Projects Kolte Patil Devp J Kumar Infraproject Marg Ltd. Nitesh Estates Marathon Nextgen Ircon International Welspun Projects Ashiana Hsg PVP Ventures Arihant Superstru RPP Infra Projects DS Kulkarni

0.70 938.92 4871.14 10186.47 1005.77 13091.89 858.32 7642.40 7453.90 711.31 2138.84 31528.84 4290.79 1053.76 0.00 127.41 1445.45 2126.72

32.85 215.00 39.45 19.25 117.70 142.00 45.00 131.50 88.00 23.55 152.55 305.00 67.70 121.80 8.80 66.30 72.20 56.00

2.66 1.06 -1.74 0.00 1.86 0.39 1.69 0.19 0.17

436.2 5 133.2 8 6.49 8.53 7.28 9.19 7.05 5.13 6.10

5544.76 4972.80 4900.36 4180.70 4155.46 3839.40 3712.97 3669.76 3594.61 3427.05 3078.82 3018.89 2586.00 2421.61 1997.18 1820.64 1695.04 1548.06

42/21 639/132 148/41 50/19 280/118 229/135 77/36 272/128 244/87 51/20 424/147 0/0 194/57 192/110 19/8 123/13 89/53 91/46

1.07 90.90 -6.07 0.00 12.46 -2.99 2.33 3.50 1.16 0.00 5.70 0.00

0.45 24.74 -0.28 -3.11

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9.05 9.29

Devlp Satra Properties Vas Infra. Vipul KCL Infra Projects Manjeera Constrn.

2067.04 183.70 2802.10 653.00 598.39

9.00 106.00 11.11 51.45 104.85

1.12 33.54 172.3 9 -5.29 6.64 -4.98 0.49 0.00

1500.63 1418.80 1409.82 1354.72 1352.16

16/9 189/48 26/11 88/46 179/76

7.10 13.12

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FUNCTIONAL AREA IN HR

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Human resource department Indiabulls at:HR department functions: -

1. Pre-Recruitment Process a. Receipt of requirement of manpower from various department heads. b. Scrutinize them and take approval from concerned authorities if the post is new. c. Prepare a recruitment budget and CTC for the employee and take approval. d. Select the appropriate Recruitment process.

2. Recruitment Process

a. Prepare Advertisements etc for the recruitment. b. Scrutinize and shortlist the applications received. c. Send interview call letters/mails as required. d. Conduct Interviews through panels. e. Preparation of offer letters as required.

3. Joining Formalities:

a. Administrating Joining formalities. b. Pre Employment Reference checks. c. Preparation of Appointment Advice and intimating the same to other departments. d. Preparing and entering new hire paperwork. e. Co coordinating to get Employee ID Cards.
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f. Handing over the new hire to the concerned HOD/Manager. g. Preparation of Job Profiles co ordination with HOD/Managers for new posts.

4. Employee Personal File Maintenance: a. Opening new file and Closing the Resigned employees File. b. Make sure all Employee files are maintained safely with care. c. Make sure all personal records are available in the files. d. Periodic Personal File Auditing.

5. Employee Data Base:

a. Keeping Track of Knowledge Management Software. b. Maintenance of HRIS.

6. Confirmation Formalities:

a. Intimating the concerned HOD/Manager about the due dates for confirmation. b. Conducting Confirmation Appraisals. c. Co-coordinating for Skill Gap Analysis. d. Co-coordinating to set Quality Objectives for each job profile. e. Ensuring updation of the existing Job Profiles. f. Processing the Confirmation.

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7. ISO Compliance:

a. Ensuring all the updation of the ISO documentation and HR Formats. b. Learning and enforcing Standard Operating Procedures (SOP). c. Facing the Internal and External Audits, accountable to enforce the correctional actions.

8. Statutory Compliance:

a. Handling PF and ESI formalities and co coordinating with other departments. b. Handling Apprentice Training, Submitting Periodic Returns to Board. c. Submitting other returns to the labour Department as per Shops and establishment Act.

9. Training And Development:

a. Conducting Induction Training for new hires. b. Training Need Analysis based on Skill Gap Analysis, Appraisal Feedback and suggestions. c. Co coordinating External and Internal Training Programs. d. Maintaining Training Records. e. Analysis of Training Feedback.

10. Performance Appraisal: a. Prepared the new Appraisal Form.

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b. Educated employees about self-appraisal. c. Provided inputs to HODs for Appraisals. d. Prepared Appraisal Letters.

11. Employee Relation:

a. Having formal and Informal counseling with employees. b. Prepared Event Calendar of monthly recreation to motivate employees. c. Handling Corporate Medical Insurance. d. Processing required letters on employees request.

12. Report Generation:

a. Generating and analyzing Employee Attrition Reports, Training Evaluation, and Manpower Status. b. Weekly and monthly recruitment reports c. Report generation of Pre appraisal, Appraisal and Post Appraisals. d. Salary Details Reports to Accounts Department. e. Reports as per the HODs request.

13. Exit Formalities: a. Administering Exit paper work including all Statutory requirements. b. Conducting Exit Interviews. c. Preparing Exit Interview Summary. d. Giving post employment reference for relieved employees. e. Processing File to Accounts Department for final settlement.

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RECRUITMENT

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RECRUITMENT :Definition: By Fipp , it is process o searching for prospective

employees & stimulating & encouraging them to apply for job in an organization . it is often termed positive in that it stimulates people to apply for jobs to increase hiring ratio i.e. the no. of applications for a job. The process of generating a pool of qualified candidates for a particular job is the first step in the hiring process. The aim of recruitment is to attract qualified job candidates; the word qualified is stressed because attracting applicants who are unqualified for the job is a costly waste of time. Unqualified applicants need to be processed and perhaps tested or interviewed before it can be determined that they are not qualified, to avoid these costs the recruiting efforts should be targeted solely applicants who have the basic qualification for the job. Recruitment forms the first stage in the process which continues with selection & ceases with placement of the candidates. Recruitment & selection are critical elements of effective human managements. With the human resource management paradigm they are not simply mechanism for filling vacancies. Recruitment & Selection is a function of major importance to the success of an enterprise.

Placing the individual may be done by: 1. Merit basis.

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2. Considering the persons interest, backgrounds & physical capacities. 3. Examining the job available. 4. Matching the available job recruitments with individual capacities.

Recruitment & Selection Policy Of India bulls :

Objective: To attract select best suitable talent in the industry & to provide a frame work for all the hiring decisions of the company. Scope: It covers the hiring policy & procedures for all levels. Causes: 1) Policy should be in conformity with its general personnel policies & should be flexible. 2) The company shall always keep its business objective & the competency requirements as the prime criteria while selecting a candidate there is no discrimination on the bases of cost, language, domicile & sex while selecting a candidate. 3) For each position there shall be job description & specification & the company shall hire candidates only with specified qualification & experience. Any kind of relaxation shall be recorded as policy deviation with proper justification & authorized from concerned authorities. 4) The company refers to hire candidates with sufficient relevant experiences , however in exceptional cases a fresher can be hired with proper justification. 5) The company uses multiple sources to search candidates such as newspaper advertisements, recruitment constancies & employee referrals etc. 6) The HR Manager/ Department shall assess the credibility of each & every recruitment agency with whose the company may associate for its human resources sourcing association starts only after a contract is signed on agreeable terms & conditions.

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7) The HR department shall ensure that all the candidates those who come for the interview are attended properly & promptly. 8) Every selected candidates goes through an induction program. Factors affecting Recruitment: All organization whether large or small, do engage in recruiting activity this depends upon: 1. Size of the organization. 2.The employment condition in the organization, the efforts of the past recruitment efforts which show the organizations ability to locate good performing people. 3. Working conditions & salary benefit packages offered by the organization which may influence & necessitate future a) Recruiting b) The rate of growth of organization c) The level of seasonal operations & future expansion & production programs. d) Cultural, economic & legal factor etc.

Sources of Recruitment:
There are a great number of recruitment sources available the most prominent of these sources are: Current Employees: Many companies have a policy of informing current employees about job openings before trying to recruit them from other sources, internal job postings give current employees the opportunity to move into the forms more desirable jobs however; an internal promotion automatically creates another job opening that has to be filled.

Referrals from current employees: Studies have shown that employees who were hiring through referrals from current employees tend to stay with the
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organization longer & display greater loyalty & job satisfaction than employees tend to refer people who are demographically similar to themselves which can create equal employment opportunity problems.

Former Employees: A firm may decide to recruit employees who previously worked for the organization these are the people who are laid off or who work seasonally because the employer already has experience with these people, they tend to be safe hires.

Print Advertisement: Advertisements can be used both for local recruitment efforts (newspaper) & for targeted regional, national or international searches for instance; clinical psychologists often find jobs through listing in American psychological associations monthly newspaper.

Internet Advertising: Employers are increasingly turning to the web as a recruitment to because on line ads are relatively cheap, are more dynamic & can often produce faster results than newspaper help wanted ads. In addition, the reach of internet has expanded dramatically. So companies can connect with people all over the world looking for jobs.

Employment Agencies: Many organizations use external contractors to recruit & screen applicants for position. Typically, the employment agencies are paid free based on the salary offered to the new employees. Agencies can be particularly effective when the firm is looking for an employee with a specialized skill. Another advantage of employment agencies is that they often seek out candidates who are presently employed & not looking for a new job, which indicates that their current employer is satisfied with their performance.

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e- recruitment: Managers now use emails & to web to bypass campus career centers an email, news letter to the student to get them interested in the firm the manager can take the complete responsibility for all the recruiting. Doing their own recruiting also put them in better touch with the market & their needs.

Recruitment in India bulls:

Recruitment in Reliance is made through different channels. Recruitment procedure is quite systematic & not wholly scientific.

Channels of Recruitment: - Recruitment through intermediaries - Recruitment through contractors - Direct Recruitment - Recruitment through employment exchange - Other Methods - Through Trade Union - Through Labour Office - Through referee - Recruitment through the web(e-recruitment)

Internal Recruitment: Internal recruitment involves findings someone already employed by the organization to fill the vacancy. If an internal transfer or selection can be done then the application is asked from employees who are interested in career shifts can be selected to the vacant place. The vacancies are internally advertised on the notice board.
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Internal Sources: Internal sources consist of employee referrals which enable quick availability of CVs to the HR department earning better posts through referrals benefits the employees & getting quickly eligible candidates & high moral of the employees benefit the company. But these internal references are limited to filling up vacancies at the lower level. The following guidelines are issued to streamline the internal recruitment procedure. An employee must have at least worked for 5 years in the position where he

is working to become eligible for internal Recruitment. - Employees in the contractual obligation should also be permitted to apply against internal advertisement but it depends on his qualification & efficiency work. Advantages of Internal Recruitment: Applicants will already know the company & its methods of working & are

therefore likely to settle into the job a great deal easier than external candidates. The cost of recruitment is reduced, there will be no need for external

advertisements & all administrative cost & time involved in dealing with applications. Internal Recruitment & promotions will increase motivation of work force.

Disadvantages of Internal Recruitment: There are through problems with using internal Recruitment. First, these will be limited range of applicants & there will be a reduced potential of finding new talent & less input of new ideas & methods of working, also as one person is promoted then another vacancy is created.

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External Recruitment: External Recruitment means looking outside the company for candidates for vacancy. External Recruitment is conducted when there is no internal force to fill up the vacancy & the company is looking out for new candidates. The external sources are used for recruiting permanent employees or who are higher up in positions.

External Sources : 1) Placement Agencies or consultants:- The vacancy is communicated to the placement agency along with the job description & other specification. The CVs are sent in to the company where the HR Manager & the concerned department head specify according to their recruitment. 2) Advertising :- Advertisements are given by- newspaper likes The Times Of India, Indian Express etc about the vacancy along with minimum qualification requirement. Advertisement is used when qualified or experienced personnel are not available from other sources 3) Central Employment Exchange:- The HR Manager contacts the employment exchanges & gets the suitable candidate for the required job.

Advantages of External Recruitment : 1) Introduces new people with new ideas, can allow leaps forward in thinking, helps avoid getting stuck. 2) Wider range of candidates giving more choice.
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3) Takes advantage of training provided by other companies, reduces costs & increase skills.

There are a wide variety of methods firm can use to find suitable candidates the actual method or methods used will depend upon the type of vacancy & number of vacancies available. For skilled & professional workers it may be appropriate to use to find suitable candidates. The actual method or methods used will depend upon the type of vacancy & the number of vacancies. Head hunters can be used when senior management positions become vacant. Head hunters will use their knowledge of employment market to find suitable candidates. For semi skilled workers advertisements in local & nation newspaper may be appropriate. The job center can be used for clerical administrative & unskilled workers.

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SELECTION- THE ULTIMATE OBJECTIVE

The process of making hire or no hire decision regarding each applicant for a job. The process typically involves determination of the requirement for effective work performance are typically based on job analysis depending on applicants scores on various test or impressions they have made in interviews. To retain & maximize the human resources whom were so carefully selected, organization must pay careful attention to socialize them. Socialization involves orienting new employees to the organization & to the unit in which they will be working. It is important that the new employees become familiar with the company policies, procedures & performance expectation. Socialization can make a difference between a new workers feeling like an outsides & a feeling like a member of the team. According to Dale Vader, selection is the process in which the candidates for employment are divided into two classes those who are to be offered employment & those who are not. The process of selection begins with the undertaking & the definition of job to be performed by those involved in selection. These are convicted into job specializations that are made public by using media. Job opportunities should be publicized in such a way the enable the organization to draw upon prospective candidates from a wider cross section of the society. Planned selection through techniques that are the objectives, reliable & valid ensures better choice of employees. The process of selection begins with manpower/human resource planning that involves a through auditing of the existing manpower & planning in advance how to more form the present to the future interns of human resources. The process continues in three stages, & each stage is as important as the previous one it starts with recruitment followed by screening & finally ends
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with selection. Recruitment is concerned with the discovery of potential to locate the sources of manpower & attract them insufficient numbers so as to facilitate better selection with a wider choice to meet the job requirements & job specifications.

Selection is choosing a few from those who have applied. The process consists of many stages in which every information decides if the candidate will go to the next stages or fall out. It is the choice making process in which those meeting the minimum requirement keep going to the next stage & those falling go out of the race. After a candidate is found to be most suited, he is offered placement in the organization at a price scientifically arrived at by the process of job evaluation. The terms & conditions of employment are explained to him & finally he is inducted to the new work environment.

The various steps in the selection of the desirable person in the employment procedure starts only after the applications from the prospective employees are receive by the concern. These applications are scrutinized considering the standard set out by the organization. The application are screened out at each step and those who are found borne job are selected finally.

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The following are the necessary steps generally involved in the selection process:-

1) Preliminary interview 2) Application blank 3) Employment Test 4) Employment interview 5)Reference check 6)Medical examination 7)Final selection.

STEPS IN SELECTION PROCEDURE:1) Preliminary interview: It is the first step after receipt & scrutiny of the applications forms in the selection process .The purpose of this type of interview is to eliminate the unqualified or unsuitable candidates .It should be quite brief just to have an idea of general education, experience ,training , appearance, personality etc. of the candidate & to obtain his salary requirements. If the application appears to have some chance of being selected, he is given the application blank to fill.

2) Application Blank: A blank application or application blank is the next important weeding out device in the selection procedure .The successful candidates in preliminary interview supplied with the application blank to get a written record of the following information.
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Identify information such as family background date & place of birth, age, sex, height, citizenship, marital status etc. Information recording education .It include information about his academic career , subject taken at various levels ,school certificate & degree level, grade, division or place awarded in school & college, technical qualification etc. Expected salary, allowance & other fringe benefits

3) Employment test: Psychological & other test are becoming increasingly popular even in India as a part of the selection process. However their utility is controversial .The personnel department can guide & help in the selection of type of tests appropriate for a particular position .

4) Employment Interview: Perhaps this is the most complex & difficult part of the selection process. The purpose of interview is to determine the suitability of the applicant for the applicant for the job & job for the applicant. Interview must be conducted in a friendly atmosphere & the candidate must be asked the Basis of job specification. Unwanted questions should be avoided.

5) Reference Check: Employers generally provide a column in the application blank for Reference. If the applicant crosses all the above hurdles an investigation May be made on the reference supplied by the applicants regarding his Past employment, education, character, personal reputation etc. Reference may be

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called upon on telephones or may be contracted Through mail or personal visit. Additional information can also be Recorded by asking the questions from references.

6) Medical Examination: In almost all the companies even in India medical examination is a part of The selection process for all suitable applicants. It is conducted of the final decision has been made to select the candidate. This is very important because a person of poor health may generally be absent from work & the training given to him may go waste. A person suffering from any disease nay spread it amongst others & all this effects the working of the concern.

7) Final Selection: If a candidate successfully overcomes all the obstacles or tests given above he would be declared selected. An appointment letter will be given to him mentioning the terms of appointment, pay scales, post on which Selected, when he joins the organization etc. It Is the primary duty of the HR manager to introduce him to the company & his job. In the selection of the candidate whatever may be the procedure the personnel department plays an important role. It should be kept in the mind that the decision to recruit the personnel is not taken by the personnel Department. It however assist the top executives in selecting the candidate by devising the application from preparing the job description & setting the job specification.

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SELECTION PROCESS AT INDIA BULLS:

Scrutiny of CVs by HR Department Scrutiny of CVs by concerned departmental head Interview call letter send to applicants Personal interview Reference check Selection Induction

Scrutiny of CVs by the HR Department: The CVs received are scrutinized by the HR Department according to the Qualifications & requirement. The CVs are sorted accordingly.

Scrutiny of CVS by concerned Department Head: The concerned departmental head goes through the CVs sorted by the HR Department taking into consideration for which post the candidate has applied for.

Interview call letter send to Application: After the CVs are scrutinized, the call letter is send to the candidates to come for the interview, & the HR head & the concerned persons to conduct the interview are informed.

Personal Interview: The interviews are often best carried out by panel consisting of a specialist, HR Manager, a manager from the department concerned & an independent member,
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this would allow an all round picture of the candidate be arrived at. After the personal interview the candidates undergo through various test which are conducted by the personnel department.

Reference Check: For the recruitment of persons in higher positions the reference check of that Person is done with the previous employer or company the person was working with to know his reliability, character etc.

Selection: After the interview & other steps if the candidate is found fit for the particular job & is the right person for the job, then the candidates are short listed.

Appointment Letter: A formal letter of appointment is sent to the candidate who is selected he is offered the job. It contains date of joining, terms of job etc.

Finalization of terms of service: 1. Fixation of salary is done by the HR Department in consultation with the head of the department concerned. This is normally done as per the salary structure already available in the company. 2. Before a person joins prior approval of concerned head is invariably obtained. 3. After the approval of the authority is taken, candidates are given offer letter as per procedure. 3. Offer letters are signed by concerned executive.

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SCREENING OF THE EMPLOYEE:

In over all process of selection, screening comes once the recruitment is over. Screening is a process of reducing the number of applicants to few who have a better chance of getting selected than those screened out. This is Also called the process of short listing. Screening is generally done by the HR department on the basis of: a) Eligibility b) Suitability Job specification must be referred to while screening candidates on the basis of these two criteria. Methods used in screening are, a) Preliminary application b) Screening Interview While screening dose help reduce large numbers to manageable proportions, it also has a risk of losing those who could have performed well in the subsequent selection. With more dear understanding of job description, the risk could be reduced.

P LACEMENT
Once an after of employment has been made & it is accepted, the final stage is the procurement function & is concluded it may be defined as the determination of the job to which an accepted candidate is not be assigned and his assignment to that job.

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Joining Formalities: On the day of joining, all the necessary documents are verified against the application blank filled by the candidates earlier. Documents verified are: Education Qualification & certificates. Experience Certificates Clearance or no objection certificate from the previous employer Resume Acknowledged copy of offer letter.

On joining the organization the candidate has to sign the joining report which consists : Fill the CV in the company format; Fill the induction feedback form; Fill the PF form; Fill the investment declaration form.

A perfect placement can lead to low labour turnover, higher productivity, high morale, low rate of absenteeism & excellent work culture.

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TRAINING

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Need for Training

After employees have been selected for various positions in an organization, training them for the specific tasks to which they have been assigned assumes great importance. It is true in many organizations that before an employee is fitted into a harmonious working relationship with other employees, he is given adequate training. Training is the act of increasing the knowledge and skills of an employee for performing a particular job. The major outcome of training is learning. A trainee learns new habits, refined skills and useful knowledge during the training that helps him improve performance. Training enables an employee to do his present job more efficiently and prepare himself for a higher-level job. The essential features of training may be stated thus: Increases knowledge and skills for doing a particular job; it bridges the gap between job needs and employee skills, knowledge and behaviors Focuses attention on the current job; it is job specific and addresses particular performance deficits or problems Concentrates on individual employees; changing what employees know, how they work, their attitudes toward their work or their interactions with their co-workers or supervisors Tends to be more narrowly focused and oriented toward short-term performance concerns. Training is needed to serve the following purposes: Newly recruited employees require training so as to perform their tasks effectively. Instruction, guidance, coaching help them to handle jobs competently, without any wastage. Training is necessary to prepare existing employees for higher-level jobs (promotion). Existing employees require refresher training so as to keep abreast of the latest developments in job operations. In the face of rapid technological changes, this is an absolute necessity. Training is necessary when a person moves from one job to another (transfer). After training, the' employee can change jobs quickly, improve his performance levels and achieve career goals comfortably Training is necessary to make employees mobile and versatile. They can be placed on various jobs depending on organizational needs. Training is needed to bridge the gap between what the employee has and what the job demands.
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 Training is needed to make employees more productive and useful in the long-run. Training is needed for employees to gain acceptance from peers (learning a job quickly and being able to pull their own weight is one of the best ways for them to gain acceptance). Importance Training offers innumerable benefits to both employees and employers. It makes the employee more productive and more useful to an organization. The importance of training can be studied under the following heads: Benefits to the business: Trained workers can work more efficiently. They use machines, tools, and materials in a proper way. Wastage is thus eliminated to a large extent. There will be fewer accidents. Training improves the knowledge of employees regarding the use of machines and equipment. Hence, trained workers need not be put under close supervision, as they know how to handle operations properly. Trained workers can show superior performance. They can turn out better performance. They can turn out better quality goods by putting the materials, tools and equipment to good use. Training makes employees more loyal to an organization. They will be less inclined to leave the unit where there are growth opportunities

Benefits to the employees:

Training makes an employee more useful to a firm. Hence, he will find employment more easily. Training makes employees more efficient and effective. By combining materials, tools and equipment in a right way, they can produce more with minimum effort. Training enables employees to secure promotions easily. They can realise their career goals comfortably.

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Training helps an employee to move from one organization to another easily. He can be more mobile and pursue career goals actively. Employees can avoid mistakes, accidents on the job. They can handle jobs with confidence. They will be more satisfied on their jobs. Their morale would be high. Thus, training can contribute to higher production, fewer mistakes, greater job satisfaction and lower labour turnover. Also, it can enable employees to cope with organizational, social and technological change. Effective training is an invaluable investment in the human resources of an organization to repeat the task. For maximum benefit, practice sessions should be distributed over time. Motivation For learning to take place, intention to learn is important. When the employee is motivated, he pays attention to what is being said, done and presented. Motivation to learn is influenced by the answers to questions such as: How important is my job to me? How important is the information? Will learning help me progress in the company? etc. People learn more quickly when the material is important and relevant to them. Learning is usually quicker and long-lasting when the learner participates actively. Most people, for example, never forget how to ride a bicycle because they took an active part in the learning process. Reinforcement If behaviour is rewarded, it probably will be repeated. Positive reinforcement consists of rewarding desired behaviours. People avoid certain behaviours that invite criticism and punishment. A bank officer would want to do a postgraduate course in finance, if it earns him increments and makes him eligible for further promotions. Both the external rewards (investments, praise) and the internal rewards (a feeling of pride and achievement) associated with desired behaviours compel subjects to learn properly. To be effective, the trainer must reward desired behaviours only. If he rewards poor performance, the results may be disastrous: good performers may quit in frustration, accidents may go up, and productivity may suffer. The reinforcement principle is also based on the premise that punishment is less effective in learning than reward. Punishment is a pointer to undesirable behaviours. When administered, it causes pain to the employee. He may or may not repeat the mistakes. The reactions may be mild or wild. Action taken to repeal a person from undesirable action is punishment. If administered properly, punishment may force the trainee to modify the undesired or incorrect behaviours.
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Active Practice 'Practice makes a man perfect': so said Bacon. To be a swimmer, you should plunge into water instead of simply reading about swimming or looking at films of the worlds' best swimmers. Learning is enhanced when trainees are provided ample opportunities Applicability of Training Training should be as real as possible so that trainees can successfully transfer the new knowledge to their jobs. The training situations should be set up so that trainees can visualise - and identify with - the types of situations they can come across on the job. Environment Finally, environment plays a major role in training. It is natural that workers who are exposed to training in comfortable environments with adequate, well spaced rest periods are more likely to learn than employees whose training conditions are less than ideal. Generally speaking, learning is very fast at the beginning. Thereafter, the pace of learning slows down as opportunities for improvement taper off. Areas of Training The Areas of Training in which training is offered may be classified into the following categories. Knowledge Here the trainee learns about a set of rules and regulations about the job, the staff and the products or services offered by the company. The aim is to make the new employee fully aware of what goes on inside and outside the company. Technical Skills The employee is taught a specific skill (e.g., operating a machine, handling computer etc.) so that he can acquire that skill and contribute meaningfully. Social Skills The employee is made to learn about himself and others, and to develop a right mental attitude towards the job, colleagues and the company. The principal focus is on teaching the employee how to be a team member and get ahead.
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Techniques This involves the application of knowledge and skill to various on-the-job situations. In addition to improving the skills and knowledge of employees, training aims at moulding employee attitudes: When administered properly, a training programme will go a long way in obt8ining employee loyalty, support and commitment to company activities. Types of Training There are many approaches to training. We focus here on the types of training that are commonly employed in present-day organisations. Skills training: This type of training is most common in organisations. The process here is fairly simple. The need for training in basic skills (such as reading, writing, computing, speaking, listening, problem solving, managing oneself, knowing how to learn, working as part of a team, leading others) is identified through assessment. Specific training objectives are set and training content is developed to meet those objectives. Several methods are available for imparting these basic skills in modern organisations (such as lectures, apprenticeship, on-the-job, coaching etc.). Before employing these methods, managers should: Explain how the training will help the trainees in their jobs. Relate the training to the trainees' goals. Respect and consider participant responses and use these as a resource. Encourage trainees to learn by doing. Give feedback on progress toward meeting learning objectives. Refresher training: Rapid changes in technology may force companies to go in for this kind of training. By organising short-term courses which incorporate the latest developments in a particular field, the company may keep its employees up-to-date and ready to take on emerging challenges. It is conducted at regular intervals by taking the help of outside consultants who specialise in a particular descriptive. Cross-functional Training: Cross-functional Training involves training employees to perform operations in areas other than their assigned job. There are many approaches to cross functional training. Job rotation can be used to provide a manager in one functional area with a broader
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perspective than he would otherwise have. Departments can exchange personnel for a certain period so that each employee understands how other departments are functioning. High performing workers can act as peer trainers and help employees develop skills in another area of operation. Cross functional training provides the following benefits to an organisation (and the workers as well) (1) Workers gain rich experience in handling diverse jobs; they become more adaptable and versatile (2) they can better engineer their own career paths (3) they not only know their job well but also understand how others are able to perform under a different set of constraints (4) A broader perspective increases workers' understanding of the business and reduces the need for supervision (5) when workers can fill in for other workers who are absent, it is easier to use flexible scheduling, which is increasingly in demand as more employees want to spend more time with their families. Eli Lilly and Company (India), for example, encourages cross-functional movements to make the organisation equally attractive to both specialists and generalists. Team Training: Team training generally covers two areas; content tasks and group processes. Content tasks specify the team's goals such as cost control and problem solving. Group processes reflect the way members function as a team - for example how they interact with each other, how they sort out differences, how they participate etc. Companies are investing heavy amounts, nowadays, in training new employees to listen to each other and to cooperate. They are using outdoor experiential training techniques to develop teamwork and team spirit among their employees (such as scaling a mountain, preparing recipes for colleagues at a restaurant, sailing through uncharted waters, crossing a jungle etc.). The training basically throws light on (i) how members should communicate with each other (ii) how they have to cooperate and get ahead (iii) how they should deal with conflict-full situations (iv) how they should find their way, using collective wisdom and experience to good advantage. Creativity training: Companies like Mudra Communications, Titan Industries, Wipro encourage their employees to think unconventionally, break the rules, take risks, go out of the box and devise unexpected solutions. Diversity Training: Diversity training considers all of the diverse dimensions in the workplace race, gender, age, disabilities, lifestyles, culture, education, ideas and backgrounds - while designing a training programme. It aims to create better cross-cultural sensitivity with the aim of fostering more harmonious and fruitful working relationships among a firm's employees.
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 The program covers two things: (i) awareness building, which helps employees appreciate the key benefits of diversity, and (ii) skill building, which offers the knowledge, skills and abilities required for working with people having varied backgrounds. Literacy Training: Inability to write, speak and work well with others could often come in the way of discharging duties, especially at the lower levels. Workers, in such situations, may fail to understand safety messages, appreciate the importance of sticking to rules, and commit avoidable mistakes. Functional illiteracy (low skill level in a particular content area) may be a serious impediment to a firm's productivity and competitiveness. Functional literacy programmes focus on the basic skills required to perform a job adequately and capitalise on most workers' motivation to get help in a particular area. Tutorial programmes, home assignments, reading and writing exercises, simple mathematical tests, etc., are generally used in all company in-house programmes meant to improve the literacy levels of employees with weak reading, writing or arithmetic skills.

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Training Methods
1. Job Instruction Training (JlT) The JIT method (developed during World War II) is a four-step instructional process involving preparation, presentation, performance try out and follow up. It is used primarily to teach workers how to do their current jobs. A trainer, supervisor or co-worker acts as the coach. The four steps followed in the JIT methods are: 1. 2. 3. The trainee receives an overview of the job, its purpose and its desired outcomes, with a clear focus on the relevance of training. The trainer demonstrates the job in order to give the employee a model to copy. The trainer shows a right way to handle the job. Next, the employee is permitted to copy the trainer's way. Demonstrations by the trainer and practice by the trainee are repeated until the trainee masters the right way to handle the job. Finally, the employee does the job independently without supervision.

4. Merits:

Trainee learns fast through practice and observation. It is economical as it does not require any special settings. Also, mistakes can be corrected immediately. The trainee gains confidence quickly as he does the work himself in actual setting with help from supervisor. It is most suitable for unskilled and semi-skilled jobs where the job operations are simple; easy to explain and demonstrate within a short span of time. Demerits: The trainee should be as good as the trainer if the trainer is not good, transference of knowledge and skills will be poor.
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 While learning, trainee may damage equipment, waste materials, cause accidents frequently, Experienced workers cannot use the machinery while it is being used for training.

2. Coaching: Coaching is a kind of daily training and feedback given to employees by immediate supervisors. It involves a continuous process of learning by doing. It may be defined as an informal, unplanned training and development activity provided by supervisors and peers. In coaching, the supervisor explains things and answers questions; he throws light on why things are done the way they are; he offers a model for trainees to copy; conducts lot of decision making meetings with trainees; procedures are agreed upon and the trainee is given enough authority to make divisions and even commit mistakes. Of course, coaching can be a taxing job in that the coach may not possess requisite skills to guide the learner in a systematic way. Sometimes, doing a full day's work may be more important than putting the learner on track. When to use coaching usefully? Coaching could be put to good use when: An employee demonstrates a new competency An employee expresses interest in a different job within the organisation An employee seeks feedback An employee is expressing low morale, violating company policies or practices or having performance problems An employee needs help with a new skill following a formal training programme. Effective working, obviously, requires patience and communication skills. It involves: Explaining appropriate ways of doing things Making clear why actions were taken Stating observations accurately Offering possible alternatives / suggestions Following up

3. Mentoring: Mentoring is a relationship in which a senior manager in an organisation assumes the responsibility for grooming a junior person. Technical,
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interpersonal and political skills are generally conveyed in such a relationship from the more experienced person. A mentor is a teacher, spouse, counsellor, developer of skills and intellect, host, guide, exemplar, and most importantly, supporter and facilitator in the realisation of the vision the young person (protege) has about the kind of 1ife he wants as an adult. The main objective is to he1p an employee attains psychological maturity and effectiveness and gets integrated with the organisation. In a work situation, such mentoring can take place at both formal and informal levels, depending on the prevailing work culture and the commitment from the top management. Formal mentoring can be very fruitful, if management invests time and money in such relationship building exercises. 4. Job Rotation: This kind of training involves the movement of trainee from one job to another. This helps him to have a general understanding of how the organisation functions. The purpose of job rotation is to provide trainees with a larger organisational perspective and a greater understanding of different functional areas as well as a better sense of their own career objectives and interests. Apart from relieving boredom, job rotation allows trainees to build rapport with a wide range of individuals within the organisation, facilitating future cooperation among departments. The cross-trained personnel offer a great amount of flexibility for organisations when transfers, promotions or replacements become inevitable. Job rotation may pose several problems, especially when the trainees are rolled on various jobs at frequent intervals. In such a case, trainees do not usually stay long enough in any single phase of the operation to develop a high degree of expertise. For slow learners, there is little room to integrate resources properly. Trainees can become confused when they are exposed to rotating managers, with contrasting styles of operation. Today's manager's commands may be replaced by another set from another manager! Further, job rotation can be quite expensive. A substantial amount of managerial time is lost when trainees change positions, because they must be acquainted with different people and techniques in each department. Development costs can go up and productivity is reduced by moving a trainee into a new position when his efficiency levels begin to improve at the prior job. Inexperienced trainees may fail to handle new tasks in an efficient way. Intelligent and aggressive trainees, on the offer hand, may find the system to be thoroughly boring as they continue to perform more or less similar jobs without any stretch, pull and challenge. To get the best results out of the system, it should be tailored to the needs, interests and

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capabilities of the individual trainee, and not be a standard sequence that all trainees undergo. 5. Apprenticeship Training Most craft workers such as plumbers and carpenters are trained through formal apprenticeship programmes. Apprentices are trainees who spend a prescribed amount of time working with an experienced guide, coach or trainer. Assistantships and internships are similar to apprenticeships because they also demand high levels of participation from the trainee. An internship is a kind of on-the-job training that usually combines job training with classroom instruction in trade schools, colleges or universities. Coaching, as explained above, is similar to apprenticeship because the coach attempts to provide a model for the trainee to copy. One important disadvantage of the apprenticeship methods is the uniform period of training offered to trainees. People have different abilities and learn at varied rates. Those who learn fast may quit the programme in frustration. Slow learners may need additional training time. It is also likely that in these days of rapid changes in technology, old skills may get outdated quickly. Trainees who spend years learning specific skills may find, upon completion of their programmes, that the job skills they acquired are no longer appropriate. 6 Committee Assignments In this method, trainees are asked to solve an actual organisational problem. The trainees have to work together and offer solution to the problem. Assigning talented employees to important committees can give these employees a broadening experience and can help them to understand the personalities, issues and processes governing the organisation. It helps them to develop team spirit and work unity toward common goals. However, managers should very well understand that committee assignments could become notorious time wasting activities. The above on-the-job methods are cost effective. Workers actually produce while they learn. Since immediate feedback is available, they motivate trainees to observe and learn the right way of doing things. Very few problems arise in the case of transfer of training because the employees learn in the actual work environment where the skills that are learnt are actually used. Onthe-job methods may cause disruptions in production schedules. Experienced workers cannot use the facilities that are used in training. Poor learners may damage machinery and equipment. Finally, if the trainer does not possess teaching skills, there is very little benefit to the trainee. Off-the-Job Methods

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Under this method of training, the trainee is separated from the job situation and his attention is focused upon learning the material related to his future job performance. Since the trainee is not distracted by job requirements, he can focus his entire concentration on learning the job rather than spending his time in performing it. There is an opportunity for freedom of expression for the trainees.

Training Process
Training is provided both In House and through Outside Agencies Which could be for an individual or for group of persons as a collective training. Training is conducted either through Planned Training Programme Emergent Training Programme which is organized by the HRD Department

Planned TrainingThe planned training programme is drawn on annual basis both for individual and group of persons for collective training at the beginning of Calendar Year by Manager HRD and HRD Executive of factory. The departmental Heads drawn out the training requirements on the training requisition slip and sent it to HID Dept. Training of the senior personnel at Factory Is also catered for at Head Office on receipt of requirement from HRD Executive. The annual Training programme at Head office is approved by from Chairman cum Managing Director. Annual training programme is prepared on format and circulated to all heads department and is updated. If required in case of addition training needs.

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CHAPTER 6

SKILLS ACQUIRED

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NATURE OF JOB:The nature of job carried out was related to recruitment process and other assignments. I got an opportunity to witness the organizational culture and perception of work. The study on recruitment was very useful. PF and ESI formalities. Recruitment process. An overview on apprentice Training. Preparing training Evaluation report. Co coordinating to get Employee ID Cards. Prepared the new Appraisal Form. Communication with various other departments. Preparing Exit Interview Summary and processing File to Accounts Department for final settlement. Maintaining employee files safely with care & to make sure that all personal records are available in the files.

SKILLS ACQUIRED:I underwent my internship in the HR Department, where, I acquired skills like, Positive work ethics Interpersonal skill Professionalism Communication skill Good attitude Desire to learn and be trained Adaptability Planning/organizing skill Self confidence Ability to accept and learn from criticism

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CONCLUSION
After the detailed study of the procedure of Recruitment, Training & Selection process carried out at INDIA BULLS, it can be concluded that the procedure is indeed very effective. A systematic procedure is followed by the company for recruitment & selection and more effective steps are applied to select right person for right job. Due to this special recruitment & selection procedure, employee can become more competitive in every field & rate of labour turnover may also get minimized. At last I would like to conclude my report by saying that all possible care should be taken by a company to make their workforce efficient & competent to make it face the global competition. As per my observation it can be said that INDIA BULLS, policy regarding recruitment, selection & induction are efficient and improved that they can recruit the right person with the required qualifications for a right job.

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WEBLIOGRAPHY:-

www.google.com www.answers.com www.indiabulls.com

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