hdfc r & s

8/2/2019 HDFC R & S

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HDFC

The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle'approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalizationof the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC BankLimited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled CommercialBank in January 1995.

Join the winning team

HDFC Bank is a young and dynamic bank, with a youthful and enthusiastic team determined to accomplish the visionof becoming a world-class Indian bank.

Our business philosophy is based on four core values - Customer Focus, Operational Excellence, ProductLeadership and People. We believe that the ultimate identity and success of our bank will reside in the exceptionalquality of our people and their extraordinary efforts. For this reason, we are committed to hiring, developing,motivating and retaining the best people in the industry.

RECRUITMENT & SELECTION PROCESS At HDFC Bank

INTRODUCTIONRecruiting and selecting the right people is paramount to the success of the HDFC BANK LTD. and its ability

to retain a workforce of the highest quality. This recruitment and selection policy sets out the procedure to

ensure that the best people are recruited on merit and that are the recruitment process is free from bias and

discrimination.

PRINCIPLES:

Following are the guiding principles for recruitment and on-boarding process.

• Attracting and recruiting the right people is one of the most important activities of the organization and is

the responsibility to be owned by each and every employee of the organization.

• Merit will be the single most important factor in selection process.

• They will ensure a diversity, both gender and ethnicity by targeted candidate sourcing with the help of

recruitment vendors and the referral program.

• While skills and profile matching play an important role, they will hire people who are team players and

have the right attitude most relevant to the culture of the organization. Attitude is as important as aptitude.• They believe in becoming a company of giants and emphasis is in hiring people who can grow bigger and

better than they presently are.

• They believe in providing their employee with fulfilling career paths. Towards this, they will post vacancies

internally as a preferred option while evaluating external candidates.

• They believe that each candidate interviewed irrespective of whether she/he is selected should become a

friend of the organization. They treat all the candidates with the utmost respect. They will be open and fair

in communication with them; this way they also enhance the brand image of the organization.

• They will continuously assess, identify and cultivate strategic talent pools including those at the

universities, management schools, and community forums to address their long term needs.

HIRING APPROVAL

• All recruitment activities shall be undertaken based on the hiring plan as approved by the Business Head,HR Head & the CEO. For each approved position, a hiring requisition will be required prior to initiation of any

recruitment activity. If the hiring was not included in the planned budget, it will also require approval from

the CEO based on a recommendation from the Head HR and the CFO.

• Recruitment expense will be allocated to the concerned business unit, and expenditure should be budgeted

and pre-approved by the business unit head and the HR Head.

CANDIDATE SOURCING:

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The hiring manager along with the Human Resource Department would decide the channel / source to use

based on the nature of the recruitment. The following sources of recruitment may be considered:

• Internal Sources:

- Whenever any vacancy arises, the possibility of fulfilling the requirement internally via reassignment and

relocation, re-allocation of the responsibilities or internal promotion will be explored by the hiring function

along with the HR Department.

- Internal job postings to explore internal candidates.• Employee Referrals – HDFC will encourage employees to refer suitable candidates for open positions.

• Other external sources include:

- Recruitment agencies

- External job postings

- College / campus requirement

- Requirement advertisements

APPLICATION PROCESSING

HDFC will process all applications promptly and inform the applicant or source regarding the status of the

application. HDFC will respond to all solicited applications within 5 working days of receiving the application.

INTERVIEW PROCESS

• All candidates are required to undergo a face to face interview with the interview panel before selection.

• Interviews may be conducted at a place at mutually convenient locations and time in an effort to maintain

confidentiality of the hiring effort.

• One on one meeting shall be preferred as the interview format, however depending on the constraints

panel interviews / telephone / video conference screening could be used.

• For recruitment at junior levels, job fairs, universities etc, where large volume of candidates, HDFC will use

recruitment tests for purpose of short listing. The candidate may be tested on the basic aptitude, analytical

skills or other skills required for the job of the candidates.

• The interview process will focus on the evaluating the candidates suitability in terms of the job description

and fit within the organization.

• Each interviewer will complete the interview feedback form and submit it to HR. HR will compile theresults

from a various interviews and provide these to the line manager for the final decision.

The following are the guidelines with respect to the interview levels. The line manager will own the overall

interview process:

Position,

Level Equipment Hiring Decision by Interview by Salary Fitment Offer Letter Signed by

Direct Report CEO Head CEO/ HR Head, Management Team (for relevant functions) Approval - CEO

Proposal – HR Head CEO

State Head/ Regional Function Heads, Cluster Heads Regional Branch Heads, National functional Heads

Regional Branch Head / National Functional Head, Regional HR Approval – CEO

Proposal – HR Head HR HeadBranch Manager / National Functional Managers Regional Branch Heads, National functional Heads Regional

Branch Head / National Functional Head, Regional HR, Cluster / State Head Approval – HR Head

Proposal – C & B Manager HR Head

Senior Relationship Manager Regional Branch Head/ Branch Manager Regional Branch Head/ Branch

Manager, Regional HR Approval – HR Head

Proposal – C & B Manager Staffing Leader

Junior Relationship Manager Branch Manager Branch Manager, Cluster Head Approval – C&B Manager

Proposal – Regional HR Mgr. Regional HR Manager

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For campus / bulk hiring process, each panel will be specifically authorized with respect to hiring decision,

pay by the HR Head & CEO prior to the process.

RECRUITMENT EXPENES:

• All recruitment expenses including recruitment fees, advertisement expenses and interview related

expenses will be allocated to the concerned business unit.

• The candidate will be informed about the nature of the expenses that are reimbursable and the supporting

documents required (in original). HR will ensure that candidate fills the necessary reimbursement forms and

that he/she receives the reimbursement at the earliest.

• Outstation/International Candidates - HDFC will pay for appropriate air fare and expenses incurred for the

stay for candidates who they decide to fly from other locations. Prior approval from the Regional HR Leader /

HR Head is required to invite candidates. For candidates from International Locations, prior approval from

the HR Head needs to be taken.

PRE-EMPLOYEMENT CHECKS:

This will include both a professional reference check as well as the background check.

• Professional reference check will be completed by the hiring manager. HDFC will request contact

information for 2 references from the candidate, and check the quality of previous work experience and key

personal characteristics/conduct/ previous record etc.

• For key positions in areas, HDFC will also perform a background check to assess the integrity / conduct of

the candidate.

• The following information regarding the candidate will be verified:

Proof of educational qualifications

Any professional certificate that is essential to the job

Address details

Passport details

Date of birth

Proof of previous employment (service certificate)

Any negative feedback and comment in the reference check will be investigated by HR and if found genuine

shall be a cause for disqualification of the candidate or dismissal from employment.

OFFER PROCESS:

• Once the hiring decision is finalized, HR will prepare an offer / fitment as per the compensation structure

and grade and keeping in mind the internal equity.

• The offer would be communicated to the selected candidates by the hiring manager along with HR. The

candidate will sign the contract letter to formally accept employment from the organization.

PRE-EMPLOYMENT PROCESS

As an organization, HDFC will make all necessary arrangements to ensure a smooth joining process for the

employees. HR will provide the candidate a check list prior to joining to ease joining formalities.

RELOCATION FOR EMPLOYMENT

Where the employee has to relocate and has been pre-approved by the HR Head and the staffing leader, the

relocating candidate shall be eligible for the following relocation assistance:

The joining employ has the option to avail temporary accommodation (which includes laundry) for the first

two weeks arranged by organization. The stay in company provided accommodation can be extended by two

weeks further based on specific approval from the Head HR. Where the stay extends beyond 4 weeks, the

respective will not be paid housing allowance foe the corresponding period.

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Local travel assistance up to positions of RO/RM/equivalent and below will be reimbursed for one week and

for SRM/equivalent and above will be reimbursed up to two weeks.

Food expenses during the period will be reimbursed as per actual up to Rs 500/-per day per person.

Approved reasonable expenses incurred in transporting the personal goods including the transportation

/registration of one automobile to the city of work. Employees are advised to use the designated moving

agencies as per rates negotiated by Administration. Where negotiated rates are not available, the employeeis required to submit 3 quotations and secure approval from Administration before assigning the contract to

a moving firm.

EMPLOYEMENT OF RELATIVES:

The organization employs, purely on merit, the relatives of our employees as long as it does not create a

potential conflict of interest. To avoid a potential conflict of interest and to reduce the possibilities of

favoritism – the following guidelines must be followed:

Relatives are not assigned to a position where he/she has the opportunity to check, process, and review,

approve, audit or otherwise affect the work of the persons cited and above.

NO one is assigned to a position where she/he influences the professional progress or promotion of the

persons cited above.

If one is aware of a situation that appears to be an opportunity for people to display favoritism to relatives,one should contact the Department Head or Human Resources Department.

Employees will not be part of the hiring process of their relatives.

DEFINITION OF RELATIVES:

Relatives would include husband, wife, children, parents, sisters, brothers, first cousins, brothers-in-law,

sisters-in-law, mother –in-law, and father-in-law.

Employees who are aware of candidature of their relatives for the organization must immediately report to

the HR function in writing for information and records. Failure to immediately report such cases will be

considered as a serious violation of the recruitment policy and may entail a disciplinary action.

INTERNSHIP PROGRAM:

As part of university hire program, HDFC will provide internship opportunities to students. Such internships

will provide opportunities to students to learn while making real contributions to the company. HDFC will

follow the following process:

• HR will coordinate with business groups to identify potential opportunities for intern hires.

• Internship requests could be received either from the students directly or as nominations from the

educational institute.

• HR and hiring manager to tele-interview the candidates with subsequent personal interviews in the office

• HR to coordinate with the hiring manager to develop the project plan for the hire

Based on the demonstrated capability, the intern will be provided with the opportunity to work in multiple

departments to gain a wider business understanding.

INTERNSHIP CRITERIA:

Typically, the intern will be a pre-final year student of the Bachelor or Master degree programs specializing

in Financial Services/IT and any other business stream as required.

Interns will be expected to manage their won accommodation and it will not be provided by the company

Intern will be required to sign the confidentiality and code of conducts documents of the company

EMPLOYEE ON-BOARDING – PROCESS:

The overall purpose of the new hire integration process is to ensure that the new employee is able settle in

smoothly and is able to contributing at the earliest.

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PRE EMPLOYMENT INDUCTION:

HDFC’s employee induction process shall begin as per the employee accepts the job offer. The process

includes:

Welcome pack: As soon as the candidate accepts the offer, a welcome pack will be sent to the employee

A congratulatory note regarding the decision to join the organization

Contact details of a HR representative and the hiring manager

A brief company overview documentPre-joining checklist: Include details of the documents required from the employee. In case the employee is

relocating from a different location, details of the relocation process and the visa requirement will be

outlined in this checklist

Expectations on the first day of the joining

Office resources: HR shall intimate the immediate supervisor the joining date and immediate supervisor shall

work with the IT and administration team to set up the following 5 days prior to employee joining, the

following elements and are in working order: Email ID, phone, computing resources, work space/office,

access cards, joining kit including bank account opening form, initial reading material

POST JOINING ORIENTATION AND INDUCTIONJoining kit: The employee upon joining would be welcomed by the HR representative and would be given a

joining kit that will include: Access card, information on employee’s email and phone number, Bank account

opening form, corporate insurance application form(if applicable),HR & Admin policy manual, other relevant

reading material ( to be prepared by hiring manager)

Classroom Induction: The employee integration process will also include classroom training and induction

where the employee will receive presentations and trainings on various topics that would further ingrain the

into the organization

On the job training: Besides formal training sessions, the employee will undergo on-the-job function specific

trainings that are facilitated by the respective functions to help the new employee acquaint himself/herself

with work in progress.

PROBATION POLICYProbation is a trial that is mutual opportunity for the employee and HDFC to confirm suitability for continued

employment. The probation period is to establish a stronger understanding of mutual capabilities,

expectations and understanding which may include functional training. The employee must demonstrate

suitability for continued employment. An assessment will be based on factors related to work performance,

work habits, productivity, attitude and compatibility, attendance and punctuality, and any other matter that

is linked to job performance and expectations.

All new hires will be placed on probation for a period of 6 months from the date of joining

HR will initiate the confirmation process by sending an appraisal form to the immediate supervisor before

the completion of probationary period. The appraisal form will need to be approved by the supervisor’s

leadership

All letters of confirmation or extension of probation will be signed by the HR head and will be stored in

employee file for records.

REFERRAL BONUS AMOUNT

• The Referral Bonus Program is operated under the authority of the Budget and Control Board’s Employee

Bonus Guidelines. Under these guidelines, an employee may receive multiple bonuses, the total of which

may not exceed $2,000 in any fiscal year.

• Referral bonus payments may be paid in a lump sum or in periodic payments until the new employee has

completed his or her probationary period. Payments cannot be made until the referred candidate has been

employed for a minimum of one month. For example, a $1,000 referral bonus can be structured as follows:

- $250 referral bonus awarded after three months from the hire date,

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- $250 referral bonus awarded after six months from the hire date,

- $500 referral bonus awarded at the end of the probationary period.

REFERRAL BONUS PROGRAM ADMINISTRATION:

The Referral Program operates in accordance with the following program requirements:

• Referral bonuses are awarded at the discretion of management with the Agency Director or his designee

having final approval authority.

• Funding for the program must come from existing agency resources.

• The Agency will provide a form for completion and submission by either the applicant or the referring

employee with the applicant’s application indicating that the referring employee has made the referral.

• The Agency will designate a position as “hard-to-fill” before the position is posted.

• Employees selected for eligible positions must be employed by the agency for at least one month before a

referring employee may be eligible to receive a referral bonus.

Referred candidates cannot be current employees of the hiring agency in any capacity, to include temporary,

temporary grant, research grant, time- limited project, or contract employees. Both the referring employee

and the referred candidate must be employed by the agency when any referral bonus is paid receive the

referral bonus.

• Any disputes arising from the application of this program will be the responsibility of the Agency Director

or his designee to resolve and will not be considered a grievance under the State Employee GrievanceProcedure Act.

• The agency HR Office will monitor the use of the Referral Bonus Program and will report annually to the

Office of Human Resources information on the use of the Referral Bonus Program.

• The hiring process will be fair and consistent with agency policy and procedures, with no bias for or against

candidates whose selection might make another employee eligible for a referral bonus.

Amount paid to the employees who refer the candidates and if they get selected varies from Rs. 7000 to

Rs.2000 based on the grade of the employee refereed and the refereed candidate placed.

This amount is paid to the employees in two ways:

1. Immediately when the candidate is joined

2. After the completion of 3 months of the candidate selected.

Only middle level and senior level management employees have the opportunity of referring the candidates.

This policy/scheme is not applicable to the top management employees. Also the employees who are underprobation or training period are not eligible for this employee referral policy.

FINDINGS:

1. Recruitment at an officer and managerial level is not done effectively.

2. Many people in the organization today are in the wrong jobs and as a result, they are not utilizing their

full potential.

3. Hiring people based on personal connections when the person is not qualified for the job.4. Most recruitment that involves managers is done during discussions at lunch hour, at social clubs or

during the coffee break time.

5. Inadequate recruitment procedures resulted in a number of staff not being sufficiently qualified either for

the positions they hold or their grades levels, especially in management positions.

6. Psychometric test is not conducted during the selection process.

7. Confusion in the designation and level to the employees even after permanent status for employment is

given.

8. Proper training is not given to the recruitment team and manager.

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9. Reaching few prospects due to internal recruitment, internet advertising most of the time.

SUGGESTIONS

1. Psychometric tests have to be conducted to assessing the personality of the applicants – will they fit in?

2. Look for different skills as well as the ideas of the candidate at the time of recruitment and selection

process.

3. Adopting adequate recruitment procedures to employ efficient and talented people.

4. Job responsibilities have to be clearly explained to the candidate before the joining formality is done.

5. Campus recruitments, job fairs may attract more skilled and talented employees towards the

organization.

6. Provide orientation training to all new employees before their initial work assignments and to all currentemployees who receive a different task or job.

7. Referral scheme has to be encouraged more at times when the requirement is urgent.

CONCLUSION

Recruitment is essential to effective Human Resources Management. It is the heart of the whole HR systems

in the organization. The effectiveness of many other HR activities, such as selection and training depends

largely on the quality of new employees attracted through the recruitment the recruitment process.

Policies should always be reviewed as these are affected by the changing environment. Management should

get specific training on the process of recruitment to increase their awareness on the dangers of wrong

placements.

Effective recruitment is important in achieving high organizational performance and minimizing labor

turnover. As of now HDFC Bank Ltd. has a team of effective human resource which is efficiently managing

the organization at its best. Though the recruitment process adopted by the organization needs to be

improved, challenges are ahead for the HR Department to recruit people after the effect of recession.

hdfc r & s

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