cRECRUITMENT, PERFORMANCE APPRAISAL AND TRANING AND DEVELOPMENT IN BAJAJ CAPITAL 1) RECRUITMENT PROCESS AT BAJAJ CAPITAL FORMALITIES AFTER THE JOINING BY THE HR Reference check v Validation v Entry in the Joining Kit Tracker v Preparing the Partial Kit v Getting the kit signed v Dispatching the kit to the corporate office STEP BY STEP RECRUITMENT PROCESS AT BAJAJ CAPITAL * Short listing of the candidate by the TM. In case of internal recruitment then they should assure that they have fulfilled the criteria. And in case of external recruitment they should follow the process note forwarded to them by the HR Department. The interview needs to be conducted very properly; selection of the candidate should be done only he satisfies the criteria for that post. Proper care should be taken while selecting a candidate. * After the interview is conducted and reference check of thecandidate is done, the papers need to be processed to the HR Department. When processing the papers the TM should ensure that the following documents are there:--Interview Assessment Sheet-CV-Appointment letter of the previous company-Salary slip of last two months-Reference Check form On receiving the papers at HR, entry needs to be made in the documents received tracker. If all the documents are complete then the IP Code, (CV Code) needs to be allotted to it and then the papers should be forwarded to the respective HR Cluster Heads. In case any documents are pending then the candidate needs to be called for the papers. * On receiving the complete documents, the HR needs to negotiate the salary with the candidate and close the offer. On closing the offer the an offer mail is to be sent to the candidate stating his post, salary, date of joining and as to what documents they are to bring along with them. On the day of joining, the candidate needs to fill the joining kit and the online PDF Form. The kit contains information about the candidate i. e. their personal details, education qualification, work experience, and other information that are required by the firm. The online PDF Form contains general details such as name, address, identification mark, place of posting, etc. * Once through with the kit, the documents are to be collected and should see that the kit is properly filled i. e. the date of joining, place of posting, and that they have signed where required. On receiving the complete kit, the joining kit tracker needs to be updated. The tracker contains information such as the BDF No, name, address, contact details, position & location of the candidate, his previous work experience, his account No, & PAN No. , the date of joining and the date of dispatching the kit to the corporate office * Once the tracker is updated, the kit needs to be validated. It is done in order to generate the SAP Code of the employee. Duringvalidation information such as the post & the location of the employee, SAP Code of their reporting authority and their CTC is required. After all these formalities, the partial kit is to be prepared and the kit needs to be signed by the HRM, then the kit is to be dispatched to the corporate office . Job opportunities may be identified by studying jobs and determining the knowledge and skills each one requires. Once career paths are developed and employees are identified on the career ladder, it is possible to inventory the jobs and determine where individuals with the required skills and knowledge are needed or will be needed. Beyond recruitment, organization also needs to consider the progression of employees through a series of jobs.
In this way they can manage not only the immediate contribution of individuals to the organization, but the long term contribution throughout their career. In order to be successful, a career management program must receive the support of top management. The program should reflect the goals and the culture of the organization, and managerial personnel at all levels must be trained in the fundamentals of job design, performance appraisal, career planning and counseling. The objectives and opportunities of the career development program should be announced widely throughout the organization.
We often think that successful people plan their careers out and then work toward their goals in a very logical, sequential manner. Although some successes are designed and implemented this way, others are created through insight, preparedness, and taking advantages of opportunities as they rise. 2) PERFORMANCE APPRAISAL Performance appraisal is the process of obtaining, analyzing and recording information about the relative worth of an employee. The focus of the performance appraisal is measuring and improving the actual performance of the employee and also the future potential of the employee.
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PERFORMANCE APPRAISAL IN BAJAJ CAPITAL In the Bajaj Capital the performance appraisal is called performance improvement process (PIP). THE PIP SHARED BY MBO IN BAJAJ CAPITAL MBO- Management by objective has been defined as “a process whereby the superior & subordinate managers of an organization jointly identify its common goals setting for each individuals & gives largely & use the measures as guides for operating the unit & assessing the contribution of each & its members.
GOAL SETTING- The goals are defined in clear, precise & measurable terms. They should be challenging yet attainable. A thorough analysis of internal environment(strengths & improvement area) and (opportunities & threats)of the organization is made to made to set these goal. The goal is set for financial, customers, people, process etc. PERFORMANCE TARGET- On the basis of organization goal, performance for each employee may be decided on the of organizational charts & job description.
Every subordinate writes down his own performance goal which are work related & career oriented. His manager also writes down the goal he thinks the subordinate should satire for. The employee of all levels are involved in goal setting. Action plan required to achieve the goals are also decided through consultant among an employee & his superior. Joint goal setting & joint goal setting & joint action planning are essential elements of appraisal through MBO.
PERFORMANCE REVIEW- Frequent performance review meeting between the mangers & the subordinate are held Initially, monthly reviews may be used & then extended to quarterly reviews. In the reviews meeting, progress is assessed, improvement area & constraints are identified & steps to be taken to improve performance are decided. Subordinate actively participate in the process. It leads to self control by the employee. GUIDELINES FOR CONDUCTING SIX MONTHLY & YEARLY APPRAISAL REVIEW 1.
Objective of review is to help improve individual performance & thereby business performance. 2. Two hour workshops to be inducted each year one month before above reviews (5th & 11th month of appraisal year). 3. HRD group to devote one month (each for half yearly &yearly review) fully focused to complete all reviews. 4. HRD facilitator to be present during review &fill up check list to help improve process in future. Initially recommended to slant for 1st 3rd 1-4th &l-v level. 5. HRD facilitator to be senior in level than appraise. ) TRAINING AND DEVELOPMENT:- The various training programs used in Bajaj capital that encourage people to maximize their full potential through training & development programs which are tailored to suit the business needs of their partners are:- a) Basic & Advanced Mutual Fund Training:- Training provides a firmer foundation of understanding for how mutual funds work and how they interact with other investments in client's portfolio. Additionally, the designation adds prestige and lets their clients know they can be confident in their recommendations. ) AMFI training: - AMFI, Association of Mutual Funds in India, is an industry association, formed in 1995, for the overall growth of the mutual fund industry. It is also responsible for testing and certification of intermediaries, including individual mutual fund advisors. So as an individual, one cannot indulge in selling of mutual funds, till he or she has cleared AMFI exam and thus is certified. In other words, AMFI test is the gateway to the ever growing mutual fund industry and takes you one step closer to providing complete personal finance solutions to your clients. ) Certified Financial Planner: - A Certified Financial Planner professional takes a holistic view of financial life of an individual and provides strategic advice in regard to investment, insurance, tax, retirement and estate needs. Unlike product sellers who represent the interest of manufacturers of these products, a Certified Financial Planner professional works for the consumer, and does not have any particular product in mind when approaching a client. ) Registered Financial Planner: - Registered financial training is provided to empower the account holder of Bajaj Capital Advisors Network in the field of financial planning by imparting them technical knowledge with a practical approach based on Registered Financial Planner model with emphasis on case studies embedded with soft skills element. e) Soft Skills: - The Soft Skills Training programs encompass a wide range of skills that most organizations find to be integral and necessary part of everyday business.
From basic communication skills to strategic management, a gamut of training programs are offered to address every business training need. f) Sales techniques: - Sales technique training is provided to increase the productivity of the sales. This training develops knowledge and use of the key selling skills that have the greatest impact on increasing sales productivity. All other sales training is incomplete without first learning these skills. g) Business Coaching: - Business coaching is a type of personal or human resource development.
It provides positive support, feedback and advice to an individual or group basis to improve their personal effectiveness in the business setting. Business coaching includes executive coaching, corporate coaching and leadership coaching. h) TAX Advisory: - A tax advisor is a financial expert specially trained in tax law. Organizations usually require tax advisors to minimize taxation, to avoid learning the details of tax law in complicated financial situations themselves or to learn the details of tax law from a professional advisor.
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