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RECRUITMENT IN INDIAN ORGANISATION
PROJECT REPORT ON
"RECRUITMENT IN INDIAN ORGANIZATIONS"
ON
CASE STUDY
A PROJECT REPORT SUBMITTED TO THE UNIVERSITY
OF MUMBAI FOR THE AWARD OF DEGREE OF
BACHELOR MANAGEMENT STUDY.
UNDER THE GUIDANCE OF: SUBMITTED
BY:
SHAIKH NUZHAT MISS. SHAIKH
TANVEER
ROLL NO: 14
A.E KALSEKAR DEGREE COLLEGE (ARTS, COMMERCE, AND
SCIENCE)
MUMBRA THANE 400612.
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RECRUITMENT IN INDIAN ORGANISATION
PREFACE
IN MODERN WORLD IMPORTANT OF MANAGEMENT
INCREASE DAY BY DAY.
THE HUMAN RESOURCE MANAGEMENT IS VERY IMPORTANT FACTOR OF
PRODUCTION AND IT WAS REALIZED TO THE ORGANIZATION IN1990'S
AFTER EVOLUTION STARTED. AND THEY REALIZED ALL FACTOR OF
PRODUCTION IS WORTHLESS WITHOUT HUMAN EFFORTS. IT’S VERY
IMPORTANT ASSET OF THE ORGANIZATION. SO HUMAN RESOURCE
MANAGEMENT WORKS ON RECRUITMENT OF THE PEOPLE I.E WHO ARE
ABLE AND EFFICIENT LABOUR TO THE ORGANIZATION.
TODAY EVERY PERSON WANTS TO BECOME A MASTER IN THEIR FIELD.
SINCE THE THEORETICAL KNOWLEDGE ARE NOT MUCH MORE TO
INCREASE THE KNOWLEDGE. PRACTICAL KNOWLEDGE ARE VERY
IMPORTANT AND GIVES KNOWLEDGE AS COMPARED TO THEORETICAL
KNOWLEDGE.
SO I TRIED TO PUT MORE LIGHTS ON HRM THROUGH PREPARING A
PROJECT ON “EURONET PVT LTD”.
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RECRUITMENT IN INDIAN ORGANISATION
ACKNOWLEDGMENT
THIS IS MY PLEASURE TO PRESENT THIS PROJECT. IT GAVE ME A
KNOWLEDGE AND EXPERIENCE ABOUT ORGANIZATIONAL PROCESS OF
RECRUITMENT. I WOULD LIKE TO THANKS ALL THOSE PEOPLE WHO
HELPED ME THROUGH MY PROJECT WORK.
I AM THANKFUL TO” SEEMA YADAV” HR MANAGER FOR GIVING ME
VALUABLE GUIDANCE FOR PREPARING THIS PROJECT REPORT. IT HAS
BEEN A GREAT LEARNING EXPERIENCE OF BEING A TRAINEE UNDER
HIM.
I WOULD LIKE TO EXPRESS MY SPECIAL THANKS TO MY FRIENDS, LIKE
"ABDAL" WHO SUPPORT ME IN COLLECTION OF DATA AND GIVING ME
CREATIVE IDEAS FOR PREPARING THIS PROJECT REPORT.
MOREOVER, I THANKS TO "PROF. SHAIKH NUZHAT MISS" WHO GUIDE
ME BEFORE AND AFTER THE PROJECT WORK. AND SHE GAVE ME GREAT
SUPPORT TO PREPARING THIS REPORT.
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RECRUITMENT IN INDIAN ORGANISATION
DECLARATION
I, SHAIKH TANVEER AFTAB ALAM STUDENT OF T.Y BMS ROLL NO:14.
HEREBY DECLARE THAT THE PROJECT TITLE "RECRUITMENT IN INDIAN
ORGANIZATION" FOR THE SUBJECT OF HUMAN RESOURCE
MANAGEMENT. SUBMITTED BY ME FOR SEMESTER 5 OF THE ACADEMIC
YEAR 2015-16, IS BASED ON WORK CARRIED OUT BY ME .UNDER THE
SUPERVISION OF NUZHAT MISS.
I FURTHER DECLARE THAT THIS PROJECT WORK IS ORIGINAL AND NOT
SUBMITTED ANYWHERE ELSE IN ANY EXAMINATION.
DATE:
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RECRUITMENT IN INDIAN ORGANISATION
SIGN OF STUDENT:
EXECUTIVE SUMMARY:
NOWADAYS, THE HUMAN RESOURCE PLANNING AS AN ACTIVITY IS
NECESSARY .THE HUMAN RESOURCE IS VERY IMPORTANT FACTOR OF
PRODUCTION IN ORGANIZATIONS. HUMAN RESOURCE PLANNING IS A
VITAL INGREDIENT FOR THE SUCCESS OF THE ORGANIZATION IN THE
RUN. THERE ARE CERTAIN WAYS FOLLOWED BY ALL ORGANIZATIONS.
HR MANAGER IS ENSURE THAT IT HAS RIGHT NUMBER AND KIND OF
PEOPLE, AT THE RIGHT PLACE AND RIGHT TIME, SO THAT
ORGANIZATION CAN ACHIEVED ITS GOAL.
THE OBJECTIVE OF HUMAN RESOURCE MANAGER IS TO HUMAN
RESOURCE PLANNING, RECRUITMENT, SELECTION, TRAINING, AND
DEVELOPMENT, INTEGRATION, MAINTENANCE, CAREER PLANNING,
TRANSFER AND PROMOTION, PERFORMANCE APPRAISAL, AND SO ON.
AND EVERY OBJECTIVES REQUIRED SPECIAL ATTENTION AND PROPER
IMPLEMENTATION.
HUMAN RESOURCE MANAGEMENT IS A DISTINCT PHILOSOPHY OF
MANAGEMENT AIMING AT MUTUALLY OF INTEREST I.E. INDIVIDUAL
NEEDS AND ORGANIZATION OBJECTIVES.
HUMAN RESOURCE MANAGEMENT IS STRATEGIC PARTNERSHIP IN
ACHIEVING ORGANIZATIONS OBJECTIVE.HRM IS INTEGRATED INTO
OVERALL STRATEGIC MANAGEMENT. HUMAN RESOURCE MANAGEMENT
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RECRUITMENT IN INDIAN ORGANISATION
INVOLVES IN DEVELOPING TOTAL ORGANIZATION, INCLUDING
EMPLOYEE AND BUILDING RIGHT TYPE OF CULTURE SUCH AS TEAM
WORK, MUTUALLY TRUST, COLLABORATION, RISK TAKING ETC.
CERTIFICATE
IT IS CERTIFIED THAT THE PROJECT WORK ENTITLED “RECRUITMENT IN
INDIAN ORGANIZATION” DONE BY SHAIKH TANVEER TO BE SUBMITTED
TO A.E CALSEKAR DEGREE COLLEGE, MUMBRA, AFFILIATED TO
MUMBAI UNIVERSITY. FOR THE FULFILLMENT OF REQUIREMENT FOR
AWARD OF THE DEGREE OF BACHELOR OF MANAGEMENT STUDIES HAS
BEEN CARRIED OUT UNDER MY GUIDANCE AND SUPERVISION. THIS
PROJECT IS NOT SUBMITTED TO ANY OTHER UNIVERSITY FOR
RECEIVING ANY DIPLOMA OR DEGREE.
DATE: 7-10 -2015
HR SIGN:
SEEMA YADAV.
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RECRUITMENT IN INDIAN ORGANISATION
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RECRUITMENT IN INDIAN ORGANISATION
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RECRUITMENT IN INDIAN ORGANISATION
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RECRUITMENT IN INDIAN ORGANISATION
CONTENT
SR NO TOPIC PAGE NO
1 CHAPTER 1EXECUTIVE SUMMARY:
OBJECTIVE OF THE STUDY
METHODOLOGY OF THE STUDY
INTRODUCTION:
2 Chapter 2What is it? Information Technology (IT)
definition
COMPANY PROFILE .
ERURONET PVT LTD
3 CHAPTER 3
LITERATURE SURVEY
4 CHAPTER 4DATA ANALYSIS
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OBJECTIVE OF THE STUDY
1) TO STUDY THE RECRUITMENT PROCEDURE FOLLOWED IN
“EORONET SERVICE INDIA PVT. LTD.”
2) TO STUDY THE VARIOUS SOURCES OF RECRUITMENT IN
“EURONET SERVICE INDIA PVT LTD”.
3) TO LEARN THE RECRUITMENT PROCESS THAT SHOULD BE
FOLLOWED.
4) TO SEARCH OR HEADHUNT PEOPLE WHOSE SKILL FITS INTO
THE COMPANIES VALUE.
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RECRUITMENT IN INDIAN ORGANISATION
METHODOLOGY OF THE STUDY
IN EVERYDAY LIFE HUMAN BEING HAS TO FACE MANY PROBLEMS VIZ,
SOCIAL , ECONOMICLE, AND FINANCIAL.
IF WE WANT TO RESOLVE THE PROBLEMS , SO THAT RESEARCH IS
REQUIERDE AND A METHODOLOGY APPLIED FOR THE SOLUTION CAN BE
FOUNDED.
DATA COLLECTION:
1)PRIMARY DATA:
PRIMARY DATA WAS COLLECTED THROUGH SURVEY METHOD BY
DISTRIBUTING QUESTIONNAIRES TO HUMAN RESOURCE MANAGER AND
EMPLOYEES OF EURONET COMPANY THE QUESTIONNAIRE WERE MADE
BY ME AS PER PROJECT PURPOSE. AND IT HAS BEEN COLLECTED
THROUGH MY DEAR FRIEND “MOHSIN QURAISHI”
2)SECONDARY DATA:
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DATA WAS COLLECTED FROM BOOKS, MAGAZINE, WEB SITES, GOING
THROUGH THE RECORDS OF THE ORGANIZATION, ETC. IT IS THE DATA
WHICH HAS BEEN COLLECTED BY INDIVIDUAL OR WITH THE HELP OF
MY FRIEND ‘ABDAL’.
DEFINITION:
HUMAN RESOURCE MANAGEMENT IS THE PLANNING, ORGANIZING,
DIRECTING AND CONTROLLING OF THE PROCUREMENT, DEVELOPMENT,
COMPENSATION, INTEGRATION, MAINTENANCE AND REPRODUCTION OF
HUMAN RESOURCES TO THE END THAT INDIVIDUAL, ORGANIZATIONAL
AND SOCIETAL OBJECTIVES ARE ACCOMPLISHED." ( EDWIN
B. FLIPPO )
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INTRODUCTION:
HUMAN RESOURCE MANAGEMENT (HRM) DEALS WITH DIFFERENT
ASPECTS OF HUMAN RESOURCE (MANPOWER) EMPLOYED IN AN
ORGANIZATION. ORGANIZATIONS ARE MADE UP OF PEOPLE
(EMPLOYEES WORKING AT DIFFERENT MANAGEMENT LEVELS) AND
FUNCTION THROUGH PEOPLE. MATERIAL RESOURCES SUCH AS MONEY
AND MATERIALS ARE UTILIZED THROUGH PEOPLE FOR DIFFERENT
PURPOSES. PEOPLE CONSTITUTE THE MOST SIGNIFICANT RESOURCE OF
AN ORGANIZATION. THE PEOPLE MAKE OR MAR AN ORGANIZATION.
HUMAN RESOURCE IS MOST ACTIVE, PRODUCTIVE AND SENSITIVE.
EMPLOYEES HAVE CAPACITY TO THINK AND ACT OR REACT
ACCORDINGLY. THIS SOURCE NEEDS DELICATE HANDLING AND FAIR
TREATMENT SO THAT IT WILL BE CO-OPERATIVE AND USEFUL FOR THE
PROGRESS AND PROSPERITY OF AN ORGANIZATION.
IN THL PRESENTS WORLD, ALL ORGANIZATIONAL RESOURCES (HUMAN
AND MATERIAL) ARE IMPORTANT FOR ACHIEVING ORGANIZATIONAL
OBJECTIVES. NATURALLY, THEIR EFFECTIVE UTILIZATION IS A MUST.
HERE, ORGANIZATIONS GIVE SPECIAL ATTENTION TO HUMAN
RESOURCES WHICH INCLUDES MANPOWER WORKING AT DIFFERENT
LEVELS IN THE ORGANIZATION. ORGANIZATIONAL FUNCTION THROUGH
PEOPLE/EMPLOYEES. IT IS THIS HUMAN RESOURCE WHICH BRINGS
SUCCESS, STABILITY AND PROSPERITY TO AN ORGANIZATION. THE
EMPLOYEES NEED TO BE EFFICIENT, HIGHLY AND PROFESSIONAL, CO-
OPERATIVE AND LOYAL TO THE ORGANIZATION. THEY ARE EXPECTED
TO MAKE POSITIVE CONTRIBUTION IN ACHIEVING ORGANIZATIONAL
OBJECTIVES. SUCH USEFUL LABOUR FORCE WILL NOT DEVELOPED
AUTOMATICALLY BUT NEEDS TO BE NURTURED THROUGH SPECIAL
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EFFORTS IN THE FORM OF TRAINING, CAREER DEVELOPMENT, CORDIAL
INDUSTRIAL RELATIONS PARTICIPATIVE MANAGEMENT AND TRADE
UNIONS.
HUMAN RESOURCE MANAGEMENT (HRM) DEALS WITH THE
MANPOWER EMPLOYED IN AN ORGANIZATION. IT DEALS WITH THEIR
PROBLEMS AND ALSO WITH THEIR RECRUITMENT, SELECTION, CAREER
TRAINING, DEVELOPMENT, PROMOTIONS AND SO ON.HRM IS
CONCERNED WITH MANAGING AVAILABLE MANPOWER FOR THE
BENEFIT OF THE-ORGANISAON.IT IS THAT AREA/ASPECT OF
MANAGEMENT WHICH IS CONCERNED WITH PEOPLE AT WORK AND
THEIR RELATIONSHIPS WITHIN THE ORGANIZATION. HRM IS
IMPORTANT BRANCH OF MANAGEMENT AS IT TOUCHES ALL OTHER
ASPECTS OF BUSINESS MANAGEMENT. HRM IS CONCERNED WITH
HUMAN RESOURCE PLANNING, RECRUITMENT AND SELECTION OF
MANPOWER, TRAINING AND DEVELOPMENT OF MANPOWER,
COMPENSATION PAYMENT TO MANPOWER AND SO ON. THE MANAGER
WHO LOOKS AFTER HRM IS CALLED HR MANAGER. THE TERM HRM
IS NOW USED EXTENSIVELY IN PLACE OF THE TERM PERSONNEL
MANAGEMENT.
HR MANAGER:
A HUMAN RESOURCE MANAGER IS A PERSON WHO TAKES PROPER CARE
OF ALL HUMAN RESOURCE FUNCTIONS AND HAS LEADERSHIP
QUALITITES TO HANDLE CRUCIAL MATTERS RELATED TO HR IN AN
ORGANIZATION, HE BELONGS TO MIDDLE LEVEL MANAGEMENT AND
TAKES DECISIONS FOR CRITICAL MATTERS AS PER THE SITUATION
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ARISES. HE SHOULD BE IMBIBED WITH ALL LEADERSHIP QUALITIES
SUCH AS QUICK DECISION MAKER, SMART, INTELLIGENT, MOTIVATING
EMPLOYEES IN THE ORGANIZATION AND MONITORING THEM IN ORDER
TO INCREASE THEIR EFFICIENCY AND PRODUCTIVITY. HE PLAYS A
DUAL ROLE BY CATERING TO THE NEEDS OF THE EMPLOYEES AND AT
THE SAME TIME TAKING INTO COGNIZANCE THE OVERALL GROWTH
AND DEVELOPMENT OF THE ORGANIZATION.
HE ALSO PUTS HIS ATTENTION IN THE COST CONTAINMENT, MAKES
OPTIMUM UTILIZATION OF HUMAN RESOURCES IN A SMART WAY, HELPS
IN INTEGRATION OF ORGANIZATIONAL GOALS, AND FOLLOWS ETHICAL
BUSINESS. HE IS ALSO, RESPONSIBLE PERSON WHO SEES TO IT THAT
VIOLATIONS SHOULD NOT BE DONE IN ANY CASE OF LEGAL
REQUIREMENTS. HE SHOULD NOT TAKE ANY BIAS DECISIONS AND
SHOULD HAVE HOLISTIC APPROACH IN ORDER TO SOLVE PROBLEMS. HE
NEEDS TO HAVE ENOUGH KNOWLEDGE ABOUT HR SO THAT NO WRONG
DECISIONS CAN BE TAKEN. HE NEED TO HAVE HIGH LEVEL OF
INTELLIGENCE IN ORDER TO BE AN EFFICIENT EMPLOYEE.
EVOLUTION OF HRM
THE EVOLUTION OF HRM CAN BE TRACED BACK TO KAUTILYA ARTHA
SHASTRA WHERE HE RECOMMENDS THAT GOVERNMENT MUST TAKE
ACTIVE INTEREST IN PUBLIC AND PRIVATE ENTERPRISE. HE SAYS THAT
GOVERNMENT MUST PROVIDE A PROPER PROCEDURE FOR REGULATING
EMPLOYER AND EMPLOYEE RELATIONSHIP.
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IN THE MEDIEVAL TIMES THERE WERE EXAMPLES OF KINGS LIKE
ALLAUDIN KHILJI WHO REGULATED THE MARKET AND CHARGED FIXED
PRICES AND PROVIDED FIXED SALARIES TO THE PEOPLE. THIS WAS
DONE TO FIGHT INFLATION AND PROVIDE A DECENT STANDARD OF
LIVING. DURING THE PRE-INDEPENDENCE PERIOD OF 1920 THE TRADE
UNION EMERGED. MANY AUTHORS WHO HAVE GIVEN THE HISTORY OF
HRM SAY THAT HRM STARTED BECAUSE OF TRADE UNION AND THE
FIRST WORLD WAR. THE ROYAL COMMISSION IN 1931 RECOMMENDED
THE APPOINTED OF A LABOUR WELFARE OFFICER TO LOOK INTO THE
GRIEVANCES OF WORKERS. THE FACTORY ACT OF 1942 MADE IT
COMPULSORY TO APPOINT A LABOUR WELFARE OFFICER IF THE
FACTORY HAD 500 OR MORE WORKERS. THE INTERNATIONAL
INSTITUTE OF PERSONNEL MANAGEMENT AND NATIONAL INSTITUTE
OF LABOUR MANAGEMENT WERE SETUP TO LOOK INTO PROBLEMS
FACED BY WORKERS TO PROVIDE SOLUTIONS TO THEM. THE SECOND
WORLD WAR CREATED AWARENESS REGARDING WORKERS RIGHTS
AND 1940S TO 1960S SAW THE INTRODUCTION OF NEW TECHNIQUES TO
HELP WORKERS.
THE 1960S EXTENDED THE SCOPE OF HUMAN RESOURCE BEYOND
WELFARE. NOW IT WAS A COMBINATION OF WELFARE, INDUSTRIAL
RELATIONS, ADMINISTRATION TOGETHER IT WAS CALLED PERSONNEL
MANAGEMENT. WITH THE SECOND FIVE YEAR PLAN, HEAVY
INDUSTRIES STARTED AND PROFESSIONAL MANAGEMENT GAINED
IMPORTANCE. IN THE 1970S THE FOCUS WAS ON EFFICIENCY OF
LABOUR, WHILE IN 1980S THE FOCUS WAS ON NEW TECHNOLOGIES
MAKING IT NECESSARY FOR NEW RULES AND REGULATIONS.
IN 1990S-THE EMPHASIS WAS ON HUMAN VALUES AND DEVELOPMENT
OF PEOPLE AND WITH LIBERALIZATION AND CHANGING TYPE OF
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WORKING PEOPLE BECAME MORE AND MORE IMPORTANT THEREBY.
LEADING TO HRM, WHICH IS AN ADVANCEMENT OF PERSONNEL
MANAGEMENT.
HR IN INDIA -IS IT STILL IN AN
INFANT STAGE
HUMAN RECOURSE FUNCTIONS GAINED ITS IMPORTANT IN INDIA IN
LATE 80S AND THE PERSONNEL AND ADMINISTRATIVE FUNCTION WERE
ENRICHED TO HUMAN RESOURCE FUNCTION S. MORE AND MORE
INSTITUTES STARTED OFFERING SPECIALIZED COURSES IN HUMAN
RESOURCES. DEMAND FOR HR FUNCTIONARIES IS. NOW ON ITS PICK
AND THE CURRENT GENERATION OF STUDENT IS SERIOUSLY
CONSIDERING OPTING FOR HR SPECIALIZATION.
POST-INDEPENDENCE TO LATE 80S -ADMINISTRATION, PM AND IR
FUNCTIONS .THIS WERE THE ERA OF ADMINISTRATION FUNCTIONS,
PERSONNEL FUNCTION AND INDUSTRIAL RELATIONS. PERSONNEL
FUNCTIONS INCLUDED TYPICAL PAPER AND ADMINISTRATIVE WORK OF
LEGAL AND STATUTORY COMPLIANCE LIKE PF, ESI, FACTORIES ACT
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FORMS AND RETURNS AND ETC. INDUSTRIAL RELATIONS INCLUDED
MAINTAINING HARMONIOUS MANAGEMENT-UNION RELATIONS AND
HANDLING LABOUR UNREST. THE IMPORTANT FEATURE OF THIS ERA
WAS THAT IT WAS CENTERED AROUND LEGAL COMPLIANCE AND
MAINTAINING THE MANAGEMENT UNION RELATIONS. HOWEVER, THE
FACTOR OF PROMOTING OR IMPROVING UNION-MANAGEMENT
RELATION OF INDIVIDUAL DEVELOPMENT WAS MISSING. FURTHER, IT
WAS MORE OF A REACTIVE APPROACH RATHER THAN PROACTIVE
APPROACH.
LATE 80S LIBERALIZATION ERA-HUMAN RESOURCE MANAGEMENT .
DURING THIS ERA, MANY LARGE ORGANIZATION FOCUS SHIFTED TO
HUMAN RESOURCE MANAGEMENT AND THE PARADIGM SHIFTED TO
PROACTIVE APPROACH AND PROMOTING INDIVIDUAL DEVELOPMENT.
EMPLOYEES WERE RECOGNIZING AS THE MOST VALUABLE ASSET OF
THE ORGANIZATION AND MEASURE WERE TAKEN TO PROMOTE
EMPLOYEE WELFARE AND DEVELOPMENT. UNLIKE THE OLDEN TIME,
QUALIFIED PEOPLE WERE RECRUITED TO HANDLE HUMAN RESOURCE
AND PERSONNEL FUNCTION . MANY ORGANIZATIONS EVEN WENT TO
THE EXTENT THAT THEY CHANGE THE NAME OF THE PERSONNEL
DEPARTMENT TO HR DEPARTMENT OR EMPLOYEE RELATIONS
DEPARTMENT. TATA GROUP OF COMPANIES, GODREJ, RELIANCE, FEW
OTHER LEADING IT ORGANIZATION AND FEW PUBLIC SECTOR
ENTERPRISES WERE PIONEER IN THIS INITIATIVES. MOREOVER, SPENDS
ON TRAINING AND ORIENTING EMPLOYEES TO THE ORGANIZATIONS
REQUIREMENT S WERE ALSO COUPLED INTO THE HR ACTIVITIES.
POST -1991, DR .MANMOHAN SINGH LIBERALIZED INDUSTRIAL
POLICIES, INDIA WITNESSED A GREAT BOOM OF INDUSTRIALIZATION
AND MANY FOREIGN FIRMS ENTERED INDIAN MARKETS. THEY
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BROUGHT WITH THEM THEIR NEW AND INNOVATIVE HR PRACTICES
AND INDIA WAS ALL SET TO ENTER THE ADVANCED STAGE OF HUMAN
RESOURCE DEVELOPMENT PRACTICES. SITUATION NOW-IT IS GOOD
ENOUGH? INDIAN ORGANIZATIONS AND MNCS PRESENT IN INDIA
PROMOTED MANY INNOVATION HR PRACTICES. FOCUS GRADUALLY
SHIFTED TO ORGANIZATION AS A WHOLE THROUGH INDIVIDUAL
DEVELOPMENT AND OD AND OB CONCEPTS ALSO HAVE GAINED
SIGNIFICANT IMPORTANCE. CURRENTLY, MOST OF THE MEDIUM SIZE TO
LARGE SIZE FIRM/ORGANIZATIONS HAVE HR PRACTICES AND DEDICATE
HR DEPARTMENT. MORE AND MORE ORGANIZATIONS ARE FINE TUNING
THEIR HR PRACTICES AND TO BENEFIT THE ORGANIZATIONS TO THE
BEST. HOWEVER, IT IS SURPRISING TO OBSERVE THAT INDIA HAS
VIRTUALLY CONTRIBUTED NOTHING TO THE HR FIELD. INDIA HAS BEEN
ADOPTED AND PRACTICING THE GOOD HR CONCEPTS AND INNOVATION
INVENTED BY INTERNATIONAL HR FRATERNITY , BUT HAVE FAILED TO
OFFER AN INNOVATION OR INVENTION IN THE FIELD OF HR. FIRM HAVE
BEEN ABLE TO MAINTAIN THE CURRENT HR FUNCTION IN A DECENT
MANNERS, BUT HAVE SPENT LITTLE EFFORTS FOR INNOVATION IN THE
FIELD. WE ARE STILL BELIEVING THAT WHATEVER WE ARE DOING IS
GOOD ENOUGH, BUT THE FACT REMAINS THAT THE WORLD IS
CONSTANTLY CHANGING AND WE ALSO NEED TO MATCH THE PACE OF
THE DEVELOPMENT. HR IN INDIA IS IN INFANT STAGE .IF I WERE TO
CONCLUDE ON THE BASIS OF MY EXPERIENCE , GENERALLY
(REMEMBER, THEIR MAY BE EXCEPTIONS) ASSESSMENT CENTERED,
PSYCHOMETRIC TESTS, ETC., HAVE HELP THE ORGANIZATIONS TO
SELECT BEST OF THE BEST PEOPLE MATCHING THEIR REQUIREMENTS;
HOWEVER ,THEY HAVE BEEN UNABLE TO HELP IN RETAINING THEM. WE
HAVE BEEN UNABLE TO MEASURE THE IMPACT AND TAKING THE
CORRECTIVE ACTION ON THE SAME . WE HAVE BEEN OFFERING
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MORE AND MORE MONEY TO RETAINING THE EMPLOYEE
LOYALTY . IT WOULD NOT BE AN EXAGGERATION TO SAY THAT HR
IN INDIA IS STILL IN INFANT STAGE AND IT HAS TO GROW
SIGNIFICANTLY IF IT HAS TO RETAIN ITS ADVANTAGEOUS POSITION IN
THE WORLD AS A COST EFFECTIVE AND EFFICIENT LABOUR SOURCE.
ORGANIZATIONS ARE UNDER CONSTANT PRESSURE TO REDUCE COSTS
AND PRODUCTIVE AND THIS IS POSSIBLE ONLY THROUGH INCREASE
EFFICIENCY OF EMPLOYEES. AND HENCE ,HR PRACTICES IN INDIA
HAVE TO MATURE AND GRADUATE TO THE LEVEL THAT CAN OFFER THE
INNOVATION AND EMPLOYEE DEVELOPMENT IN SUCH A WAY THAT IT
CAN FOSTER THE GROWTH OF THE ORGANIZATION AND ECONOMIC AS A
WHOLE AT A FASTER PACE.
CHALLENGES OF HRM IN INDIAN
ECONOMY
THE JOB OF HRM DEPARTMENT IN INDIA HAS NEVER BEEN SO
CHALLENGING. LAST DECADE HAS WITNESSED TECTONIC SHIFT IN JOB
MARKET. FROM BEING AN EMPLOYER'S MARKET, ESPECIALLY IN THE
MOST CRUCIAL SEGMENT, I.E., MANAGEMENT MIDDLE MANAGEMENT.
GLOBALIZATION AND INDIA’S GROWING STATURE IN THE WORLD HAS
BEEN DEMAND FOR INDIAN MANAGERS SOARING. FROM THE STATE OF
PLENTY, THERE IS A STAGE OF SCARCITY OF THE WRIGHT TALENTS.
THE BIGGEST CHALLENGE IS TO RETAIN THE TALENT ONE HAS SO
ASSIDUOUSLY HUNTED AND TRAINED. THE ATTRIBUTION RATE HAS
REACHED ALARMING PROMOTIONS. IT HAS REACHED SUCH
PROPORTIONS THAT CERTAIN SEGMENT OF INDUSTRY ARE
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MAINTAINING BENCH STRENGTH TO FILL IN THE SUDDEN GRAPES DUE
TO RESIGNATION .IN ADDITION, THERE ARE FOLLOWING ISSUES:
1. WORKPLACE FLEXIBILITY:
COLLABORATIVE CULTURE WILL BE THE WORKPLACE MODEL.
CREATIVE EMPLOYMENT CONTRACT WILL SUPPORT MORE TIME OFF,
FLEXIBILITY IN HOUR AND WORK LOCATION , TECHNOLOGICAL JOB
AIDS AND MORE PRAY AT A RISK WITH SIGNIFICANT UPSIDES
POTENTIAL .
2. COMPANY INTRANET WILL BECOME A MMAJOR TOOL FOR
COMMUNICATION, TRAINING AND BENEFIT ADMINISTRATION; HR WILL
PLAY A LEADING ROLE IN DEVELOPING THIS IMPORTANT TOOL.
3. WORK HOUR SCHEDULING WILL BECOME LESS IMPORTANT AS
ORGANIZATION FOCUS ON PERFORMANCE AND RESULTS.
4. COMPANY FACILITIES WILL BECOME "VIRTUAL" THROUGH WORLD-
AT-HOME, TELECOMMUNICATIONS AND OUTSOURCING. THE WORK
WEEK WILL BE LESS STRUCTURED - EMPLOYEES STILL WORK 40-PLUS
HOURS, BUT AT VARIED TIME AND PLACE OTHER THAN THE OFFICE.
5. ADVANCED TECHNOLOGY:
TECHNOLOGY NEEDS TO BE UPDATED ON THE DAILY BASIS. OUTDATED
/OBSOLETE TECHNOLOGY NEEDS TO BE SCRAPPED. TECHNOLOGY,
ESPECIALLY THE INTERNET, WILL ENABLE MORE BUSINESS TO ENTERED
THE GLOBAL MARKETPLACE. IN EVERY ARENA, ORGANIZATIONS ARE
GETTING MORE AND MORE TECHNOLOGICALLY ORIENTED. THOUGH IT
IS NOT IN THE MAIN RUN AFTER THE INITIAL DEBATES, PREPARATION
THE WORKFORCE TO ACCEPT TECHNOLOGICAL CHANGES IS A MAJOR
CHALLENGE. WE HAVE SEEN SECTOR LIKE BANKING UNDERGOING
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REVOLUTIONARY CHANGES ENABLE BY TECHNOLOGY. IT'S A HUGE
CHALLENGE TO BRING IN IT AND OTHER TECHNOLOGY ACCEPTANCE
ALL LEVEL IN ORGANIZATIONS.
6. HR PROFESSIONALS WILL HAVE ADVANCED ACUMEN IN
INTERNATIONAL BUSINESS PRACTICES,
INTERNATIONAL LABOUR LAWS, MULTICULTURAL SENSITIVITIES AND
MULTIPLE LANGUAGES.
7. CULTURAL UNDERSTANDING AND SENSITIVITY WILL BECOME MUCH
MORE IMPORTANT FOR THE HR PROFESSIONAL OF THE FUTURE,
WHEREAS MULTIPLE LANGUAGE ABILITY ISN'T GOING TO BECOME A
NECESSARY COMPETENCY.
8. WORKERS WILL CONTINUE TO STRUGGLE WITH THEIR NEED FOR
WORK/LIFE BALANCE, AND IT WILL GET WORSE.
9. WORKFORCE DEVELOPMENT: LIFELONG LEARNING WILL BE A
REQUIREMENT. THE FOCUS OF TRAINING IN THE ORGANIZATION WILL
NOT ONLY FOCUS ON PERFORMANCE IMPROVEMENT BUT ALSO ON
BUILDING CAPABILITIES AND SKILLS TO TACKLE PROBLEMS IN
STRESSFUL SITUATIONS AND ENHANCE TO DEVELOP A POSITIVE
PERSONALITY. PROBLEM-SOLVING AND ACCURATE DECISION MAKING
WILL BECOME A CURRICULUM IN THE ORGANIZATION. OTHER
ADVANCED TECHNOLOGIES AND METH ODS WOULD BE ADOPTED
WHILE TRAINING EMPLOYEES, AND TRAINING WILL BE DELIVERED
WHENEVER EMPLOYEES REQUIRE IT. ORGANIZATIONS WILL DEMAND
CONSTANT
PERSONAL GROWTH AND DEVELOPMENT SO THAT EMPLOYEES RESPOND
POSITIVELY TO THE
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INCREASING EXPECTATIONS OF COMPANY TO ACHIVE GOALS BEFORE
DEADLINES.
10. VARIED ASPECT OF JOBS : ORGANIZATIONS WON'T PAY FOR THE
VALUE OF THE JOB BUT FOR THE VALUE OF THE PERSON. VERSATILITY
WILL BE THE KEY FACTOR IN DETERMINING EMPLOYEE VALUE WITH
STRATEGIC THINKING, LEADERSHIP, PROBLEM-SOLVING, TECHNOLOGY
AND PEOPLE SKILLS CLOSE BEHIND. COMPENSATION SYSTEMS WILL BE
LINKED TO BUSINESS OUTCOMES. EMPLOYEES WILL BE INCREASINGLY
MEASURED BY HOW MUCH VALUE THEY CONTRIBUTE TO THE
BUSINESS, NOT BY WHETHER THEY FULFILLED PREDETERMINED
OBJECTIVES.
11. HR WILL EVOLVE FROM STRATEGIC BUSINESS PARTNERSHIP TO
STRATEGIC BUSINESS LEADERSHIP (DRIVING CHANGE AND RESULTS,
NOT JUST MONITORING THEM).
12. LEADING THE TALK: A HR MANAGER NEEDS TO ADVOCATE A
DIVERSE WORKFORCE BY MAKING
DIVERSITY EVIDENT AT ALL ORGANIZATIONAL LEVELS. OTHERWISE,
SOME EMPLOYEES WILL QUICKLY CONCLUDE THAT THERE IS NO
FUTURE FOR THEM IN THE COMPANY. AS THE HR MANAGER, IT IS
PERTINENT TO SHOW RESPECT FOR DIVERSITY ISSUES AND PROMOTE
CLEAR AND POSITIVE RESPONSES TO THEM. HE/ SHE MUST ALSO SHOW
A HIGH LEVEL OF COMMITMENT AND BE ABLE TO RESOLVE ISSUES OF
WORKPLACE DIVERSITY IN AN ETHICAL AND RESPONSIBLE MANNER.
13. CONTROL AND MEASURE RESULTS: A HR MANAGER MUST
CONDUCT REGULAR ORGANIZATIONAL ASSESSMENTS ON ISSUES LIKE
PAY, BENEFITS, WORK ENVIRONMENT, MANAGEMENT AND
PROMOTIONAL OPPORTUNITIES TO ASSESS THE PROGRESS OVER THE
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RECRUITMENT IN INDIAN ORGANISATION
LONG-TERM. THERE IS ALSO A NEED TO DEVELOP APPROPRIATE
MEASURING TOOLS TO MEASURE THE IMPACT OF DIVERSITY
INITIATIVES AT THE ORGANIZATION TBROUGH ORGANIZATION-WIDE
FEEDBACK, SURVEYS AND OTHER METHODS. WITHOUT PROPER
CONTROL AND EVALUATION, SOME OF THESE DIVERSITY INITIATIVES
MAY JUST FIZZLE OUT, WITHOUT RESOLVING ANY REAL PROBLEMS
THAT MAY SURFACE DUE TO WORKPLACE DIVERSITY.
14. TAKING INITIATIVE IN THE CHANGING PROCESS: CHANGING THE
METHOD OF WORKING, USING NEW TECHNIQUES AS PER THE
REQUIREMENT OF CLIENTS, CHANGING NEGATIVE PERCEPTION INTO
POSITIVE ONE ALONG WITH THE ATTITUDE TOWARDS WORKERS, ETC.
HENCE, THE CHALLENGE BEFORE HR MANAGER IS TO MAKE PEOPLE
ACCEPT THOSE CHANGES.
15. RETENTION OF EMPLOYEES: THE MOST IMPORTANT CHALLENGE IS
OF RETENTION OF EMPLOYEES, WHERE IN IT BECOMES VERY DIFFI CULT
TO RETAIN EMPLOYEES FOR SEVERAL YEARS IN AN ORGANIZATION.
THERE IS HIGH LABOUR TURNOVER BECAUSE COMPETITORS OFFER
EMPLOYEES BETTER PACKAGE AND DESIGNATION, HENCE TURNOVER
SHOULD BE REDUCED AND RETENTION SHOULD BE CONTINUOUSLY
FOCUSED ON.
16. VARIED CULTURAL WORKFORCE: WITH VARIED CULTURAL
WORKFORCE, COMPANIES ARE INCREASING OPERATIONS IN DIFFERENT
COUNTRIES AND NATION. THE WORKFORCE CONSISTS OF HUMAN
RESOURCES HAVING VARIOUS CULTURE AND HENCE DEALING WITH
DIFFERENT NEEDS OF EVERY INDIVIDUAL IS A DIFFERENT TASK.
HENCE, THE CHALLENGE BEFORE HR MANAGER IS INTEGRATION OF
MULTICULTURAL WORKFORCE.
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RECRUITMENT IN INDIAN ORGANISATION
17. WOMEN IN WORKFORCE: THE NUMBER OF WOMEN WHO HAVE
JOINED THE WORKFORCE HAVE INCREASED DRASTICALLY. WOMEN
HAVE BEEN CONSIDERED AS MORE COMPETENT AND CAPABLE
THAN MEN, HENCE WE FIND MORE WOMEN ENTREPRENEURS THESE ·
DAYS. BUT WOMEN ALSO HAVE SEVERAL PROBLEMS AND HAVE
RESPONSIBILITY TOWARDS FAMILY MEMBERS. ALSO COMMUTING
FREQUENTLY TO DIFFERENT PLACES BECOME A PROBLEM. THE
ORGANIZATION NEED TO CONSIDER
THESE ASPECTS AND HENCE CREATE A FAVOURABLE WORKING
CULTURE AND WORK ENVIRONMENT FOR WOMEN. THEY SHOULD AT
THE SAME TIME SEE TO IT THAT THERE SHOULD BE NO GENDER
BIASNESS DONE, WHICH BECOMES VERY DIFFICULT TO HANDLE IN
SOME SITUATIONS.
18. HANDICAPPED EMPLOYEES: HANDICAPPED WORKFORCE
NORMALLY FACES A LOT OF PROBLEMS ON THE JOB. THERE ARE NO
FACILITIES PROVIDED TO THEM. THEY REQUIRE DIFFERENT WORK
CONDITIONS AND INFRASTRUCTURE, WHICH SUITS THEM. HENCE, THE
CHALLENGE BEFORE THE HR MANAGER LIES IN CREATING
ATMOSPHERE SUITABLE TO SUCH EMPLOYEES.
19. DOWNSIZING AND RETRENCHMENT OF EMPLOYEES: IN MANY.
ORGANIZATIONS, EMPLOYEES WHO ARE DISPLACED DUE TO ECONOMIC
AND OTHER CHANGES FACE SEVERAL PROBLEMS. THIS INDIRECTLY
HAMPERS THE ATMOSPHERE OF THE ORGANIZATION AND CREATES A
NEGATIVE ATTITUDE IN THE MINDS OF THE EMPLOYEES. BITTER
INDIGNATION AT HAVING BEEN TREATED UNFAIRLY COMES IN THE
MINDS OF THE EMPLOYEES AND HENCE THE CHALLENGE BEFORE HR
MANAGER LIES IN IMPLEMENTING RETRENCHMENT POLICY WITHOUT
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HURTING THE SENTIMENTS OF THE WORKERS, WITHOUT MAKING THE
EMPLOYEES ANGRY AND BY CREATING A POSITIVE ATMOSPHERE IN THE
ORGANIZATION FOR THE CURRENT EMPLOYEES.
20. GLOBALIZATION AND LIBERALIZATION ARE ALSO CHALLENGING
FACTORS FOR HR MANAGERS. THEY HAVE TO BE UPDATED WITH THE
LATEST INFORMATION AND FRAME NEW RULES AND REGULATIONS AS
PER REQUIREMENT. GROWING INTERNATIONALIZATION OF BUSINESS
AND WORKFORCE HAS ITS IMPACT ON HRM IN TERMS OF PROBLEMS OF
UNFAMILIAR LAWS, LANGUAGES, PRACTICES, ATTITUDES,
MANAGEMENT STYLES, WORK ETHICS AND MORE. HR MANAGERS HAVE
A CHALLENGE TO DEAL WITH MORE AND MORE HETEROGENEOUS
FUNCTIONS AND MORE INVOLVEMENT IN EMPLOYEE'S PERSONAL LIFE.
UNIONS, HAS RESULTED IN THE NEED FOR ORGANIZATIONS TO RE-
EXAMINE THEIR POLICIES, PRACTICES AND VALUES. IN THE NAME OF
GLOBAL COMPETITION, PRODUCTIVITY AND QUALITY, ITHE INTERESTS
OF THE SOCIETY AROUND SHOULD NOT BE SACRIFICED. IT IS A
CHALLENGE OF TODAY'S HR MANAGERS TO SEE THAT THESE WEAKER
SECTIONS ARE NEITHER DENIED THEIR RIGHTFUL JOBS NOR ARE
DISCRIMINATED WHILE IN SERVICE.
21. CORPORATE RE-ORGANIZATIONS: LIBERALIZATION HAS LED TO
LARGER SCALE REORGANIZATION OF
BUSINESSES IN TERMS OF EXPANSIONS, MERGERS AND ACQUISITIONS,
JOINT VENTURES, TAKEOVERS, AND INTERNAL RESTRUCTURING OF
ORGANIZATIONS. IN CIRCUMSTANCES AS DYNAMIC AND AS UNCERTAIN
THESE, IT IS A CHALLENGE TO MANAGE EMPLOYEES' ANXIETY,
UNCERTAINTIES, INSECURITIES AND FEARS.
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22. NEW ORGANIZATIONAL FORMS: EXPOSURE TO INTERNATIONAL
BUSINESS AND PRACTICES HAS LED TO CHANGE IN THE
ORGANIZATIONAL STRUCTURE AND HR POLICIES OF THE LOCAL
COMPANIES.
TAKE FOR INSTANCE, THE HIERARCHICAL STRUCTURE OF INDIAN
COMPANIES. SUDDENLY, INDIAN COMPANIES HAVE BEGUN TO ADOPT
FLAT HIERARCHICAL MANAGEMENT STRUCTURE. BUT TO IMPLEMENT
GROWTH SUCH FUNDAMENTAL CHANGES IN MANAGEMENT PHILOSOPHY
OF ANY COMPANY IS NEVER EASY. THE CHALLENGE FOR HRM IS TO
COPE WITH THE IMPLICATIONS OF THESE NEW RELATIONS IN PLACE OF
WELL ESTABLISHED HIERARCHICAL RELATIONSHIPS THAT EXISTED
WITHIN THE ORGANIZATIONS FOR AGES IN THE PAST.
23. CHANGING DEMOGRAPHICS OF WORKFORCE: CHANGES IN
WORKFORCE ARE LARGELY REFLECTED BY DUAL CAREER COUPLES,
LARGE CHUNK OF YOUNG BLOOD WITH CONTRASTING ETHOS OF WORK
AMONG OLD SUPERANNUATING EMPLOYEES, GROWING NUMBER OF
WOMEN IN WORKFORCE, WORKING MOTHERS, MORE EDUCATED AND
AWARE WORKERS, ETC. THUS, CHANGING DEMOGRAPHY OF
WORKFORCE HAS ITS OWN IMPLICATIONS FOR HR MANAGERS AND A
TRUE CHALLENGE TO HANDLE.
24. CHANGED EMPLOYEE EXPECTATIONS: WITH THE CHANGES IN
WORKFORCE DEMOGRAPHICS, EMPLOYEE EXPECTATIONS AND
ATTITUDES HAVE ALSO TRANSFORMED. TRADITIONAL ALLUREMENTS
LIKE JOB SECURITY, HOUSE, AND REMUNERATIONS ARE NOT MUCH
ATTRACTIVE TODAY. RATHER, EMPLOYEES ARE DEMANDING
EMPOWERMENT AND EQUALITY WITH MANAGEMENT. HENCE,
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IT IS A CHALLENGE FOR HRM TO REDESIGN THE PROFIT OF WORKERS,
AND DISCOVER NEW METHODS OF HIRING, TRAINING, REMUNERATING
AND MOTIVATING EMPLOYEES.
25. NEW INDUSTRIAL RELATIONS APPROACH: IN THE CHANGED
INDUSTRIAL CLIMATE, EVEN TRADE UNIONS HAVE REALIZED THAT
STRIKES AND MILITANCY HAVE LOST THEIR RELEVANCE AND NOT
MANY WORKERS ARE WILLING TO JOIN THEM AND DISRUPT WORK.
HOWEVER, THE PROBLEMS FACED BY WORKFORCE NOW HAVE
DIFFERENT DIMENSION FOR THE MANAGEMENT. THEY MANIFEST IN THE
FORM OF INCREASED ATTRITION RATE. UNSATISFIED EMPLOYEES
INSTEAD OF APPROACHING THE MANAGEMENT FOR RESOLUTION, OFTEN
TAKE UP THE NEW JOB. THE CHALLENGE BEFORE THE HRM IS FIND
WAYS AND MEANS TO FEEL THE PULSE OF EMPLOYEES AND ADDRESS
THE ISSUES ON PROACTIVE BASIS.
26. RENEWED PEOPLE FOCUS: MAN BEHIND THE MACHINE IS MOST
IMPORTANT THAN THE MACHINE". THIS IS AN OLD DOCTRINE OF THE
ARMED FORCES. HOWEVER, THIS DOCTRINE HAS BEGUN TO GAIN
ACCEPTANCE IN THE CORPORATE WORLD AND THUS ALL OUT EFFORTS
TO GRAB THE BEST TALENT AT WHATEVER COST.
27. MANAGING THE MANAGERS: MANAGING THE MANAGERS IS MOST
DIFFICULT. ARMED WITH INSIDE INFORMATION, THEY CANNOT BE
LURED WITH ROSY PROMISES. THEY ARE IN GREAT DEMAND TOO WITH
GROWTH IN ECONOMY. THESE ARE THE PEOPLE WHO ARE MOST
MOBILE, ATTRITION RATE BEING HIGHEST FOR THE JUNIOR AND
MIDDLE MANAGEMENT LEVEL. THE CHALLENGE OF HRM IS HOW TO
MANAGE THIS TRIBE?
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28. WEAKER SECTION'S INTERESTS: ANOTHER CHALLENGE FOR HRM
IS TO PROTECT THE INTEREST OF WEAKER SECTIONS OF SOCIETY. THE
DRAMATIC INCREASE OF WOMEN WORKERS, MINORITIES AND OTHER
BACKWARD COMMUNITIES IN THE WORKFORCE, COUPLED WITH
WEAKENING OF TRADE
29. CONTRIBUTION TO THE SUCCESS OF ORGANIZATIONS: THE
BIGGEST CHALLENGE TO AN HR MANAGER IS TO MAKE ALL
EMPLOYEES CONTRIBUTE TO THE SUCCESS OF THE ORGANIZATION IN
AN ETHICAL AND SOCIALLY RESPONSIBLE WAY. BECAUSE SOCIETY'S
WELL-BEING TO A LARGE EXTENT DEPENDS ON ITS ORGANIZATIONS.
RECRUITMENT:
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RECRUITMENT IN INDIAN ORGANISATION
DEFINITION OF RECRUITMENT:
(1) ACCORDING TO EDWIN FLIPPO, "RECRUITMENT IS THE PROCESS OF
SEARCHING FOR PROSPECTIVE EMPLOYEES AND STIMULATING THEM TO
APPLY FOR JOBS IN THE ORGANIZATION."
(WHAT IS RECRUITMENT?)
RECRUITMENT MEANS TO ESTIMATE THE AVAILABLE VACANCIES AND
TO ARRANGEMENTS FOR THEIR SELECTION AND APPOINTMENT. IT IS
PRIOR TO SELECTION. IN THE RECRUITMENT PROCESS, THE AVAILABLE
VACANCIES ARE GIVEN WIDE PUBLICITY AND SUITABLE CANDIDATES
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RECRUITMENT IN INDIAN ORGANISATION
ARE ENCOURAGED TO SUBMIT APPLICATIONS SO AS TO HAVE A POOL
OF ELIGIBLE CANDIDATES FOR SCIENTIFIC SELECTION. IT IS THE
PROCESS OF SEARCHING AND OBTAINING APPLICATION FROM
INTERESTED CANDIDATES SO AS TO HAVE A POOL OF JOB SEEKERS
FROM WHOM MOST SUITABLE PERSONS CAN BE SELECTED FOR
APPOINTMENT.
IN RECRUITMENT, INFORMATION IS COLLECTED FROM INTERESTED
CANDIDATES. FOR THIS, DIFFERENT SOURCES OF RECRUITMENT SUCH
AS NEWSPAPER ADVERTISEMENT, EMPLOYMENT EXCHANGES, INTERNAL
PROMOTIONS, ETC. ARE USED. IN THE RECRUITMENT, A POOL OF
ELIGIBLE AND INTERESTED CANDIDATES IS CREATED FOR THE
SELECTION OF MOST SUITABLE CANDIDATES. RECRUITMENT
REPRESENTS THE FIRST CONTACT THAT A COMPANY MAKES WITH
POTENTIAL EMPLOYEES. RECRUITMENT IS A POSITIVE FUNCTION IN
WHICH PUBLICITY IS GIVE TO THE JOBS AVAILABLE IN THE
ORGANIZATION AND INTERESTED CANDIDATES (QUALIFIED JOB
APPLICANTS) ARE ENCOURAGED TO
SUBMIT APPLICATIONS FOR THE PURPOSE OF SELECTION. IT IS
DISCOVERING POTENTIAL APPLICANTS FOR ORGANIZATIONAL
VACANCIES AVAILABLE. RECRUITMENT CREATES A POOL OF QUALIFIED
AND INTERESTED APPLICANTS FOR PURPOSEFUL SELECTION FOR THE
JOBS IN THE ORGANIZATION. RECRUITMENT DONE WELL ENSURES
BETTER SELECTION OF STAFF REQUIRED.
IMPORTANCE OF RECRUITMENT
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RECRUITMENT IN INDIAN ORGANISATION
THE GENERAL PURPOSE OF RECRUITMENT IS TO PROVIDE A POOL OF
POTENTIALLY QUALIFIED JOB CANDIDATES. SPECIFICALLY, THE
PURPOSES
ARE TO:
1) DETERMINE THE PRESENT AND FUTURE REQUIREMENTS OF THE
ORGANIZATION IN CONJUNCTION WITH ITS PERSONNEL PLANNING AND
JOB ANALYSIS ACTIVITIES.
2) INCREASE THE POOL OF JOB CANDIDATES AT MINIMUM COST.
3) HELP INCREASE THE SUCCESS RATE OF THE SELECTION PROCESS BY
REDUCING THE NUMBER OF VISIBLY, UNDER QUALIFIED OR
OVERQUALIFIED JOB APPLICANTS.
4) HELP REDUCE THE PROBABILITY THAT JOB APPLICANTS, ONCE
RECRUITED AND SELECTED, WILL LEAVE THE ORGANIZATION ONLY
AFTER A SHORT PERIOD OF TIME.
5) MEET THE ORGANIZATIONS LEGAL AND SOCIAL OBLIGATIONS
REGARDING THE COMPOSITION OF ITS WORKFORCE.
6) BEGIN IDENTIFYING AND PREPARING POTENTIAL JOB APPLICANTS
WHO WILL BE APPROPRIATE CANDIDATES.
7) INCREASE ORGANIZATIONAL AND INDIVIDUAL EFFECTIVENESS IN
THE SHORT TERM AND LONG-TERM.
8) EVALUATE THE EFFECTIVENESS OF VARIOUS RECRUITING
TECHNIQUES AND SOURCES FOR ALL TYPES OF JOB APPLICANTS.
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RECRUITMENT IN INDIAN ORGANISATION
OBJECTIVES OF RECRUITMENT:
THE OBJECTIVE OF RECRUITMENT IS TO PROVIDE SUFFICIENTLY
LARGE GROUP OFQUALIFIED CANDIDATES, SO THAT SUITABLE
EMPLOYEES CAN BE SELECTED FROM OUT OF THEM. WELL PLANNED
RECRUITMENT CAN LEAD TO GREATER PRODUCTIVITY; BETTER WAGES,
HIGH MORALE, REDUCTION IN LABOUR TURNOVER AND BETTER
REPUTATION.
+OBJECTIVES OF RECRUITMENT ARISES OUT OF THE FOLLOWING
SITUATIONS:-
(A) VACANCIES CREATED DUE TO TRANSFER, PROMOTION,
RECRUITMENT, TERMINATION, PERMANENT DISABILITY OR DEATH.
(B) VACANCIES CREATED DUE TO EXPANSION, DIVERSIFICATION AND
GROWTH OF BUSINESS.
(C) THE NORMAL POPULATION GROWTH, WHICH REQUIRES INCREASED
GOODS AND SERVICES TO MEET THE NEEDS OF THE PEOPLE.
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RECRUITMENT IN INDIAN ORGANISATION
(D) A RISING STANDARD OF LIVING, WHICH REQUIRES MORE OF THE
SAME GOODS AND SERVICES AS WELL AS THE CREATION OF NEW
WANTS TO BE SATISFIED.
(E) AN INCREASE IN THE COMPETITIVE ADVANTAGE OF CERTAIN
CONCERNS, ENABLING THEM TO GET MORE OF THE AVAILABLE
BUSINESS THAN FORMERLY.
(F) AN INCREASE IN BUSINESS ARISING FROM AN UPSWING DURING
THE RECOVERY PERIOD OF A BUSINESS CYCLE.
NEED FOR RECRUITMENT :
» VACANCIES DUE TO PROMOTIONS, TRANSFER. RETIREMENTS,
TERMINATIONS, PERMANENT DISABILITY, DEATH AND LABOR
TURNOVER.
» CREATION OF NEW VACANCIES DUE TO THE GROWTH, EXPANSION
AND DIVERSIFICATION OF
BUSINESS ACTIVITIES OF AN ENTERPRISE-IN ADDITION, NEW
VACANCIES ARE POSSIBLE DUE TO JOB SPECIFICATION.
» DETERMINE THE PRESENT AND FUTURE REQUIREMENTS OF THE
ORGANIZATION ON CONJUNCTION WITH ITS PERSONNEL-PLANNING AND
JOB ANALYSIS ACTIVITIES.
»INCREASE THE POOL OF JOB CANDIDATES AT MINIMUM COST.
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RECRUITMENT IN INDIAN ORGANISATION
» HELP INCREASE THE SUCCESS RATE OF THE SELECTION PROCESS BY
REDUCING THE NUMBER OF VISIBLY UNDER QUALIFIED OR
OVERQUALIFIED JOB APPLICANTS.
»HELP REDUCE THE PROBABILITY THAT JOB APPLICANTS, ONCE
RECRUITED AND SELECTED, WILL LEAVE THE ORGANIZATION ONLY
AFTER SHORT PERIOD OF TIME.
» MEET THE ORGANIZATION'S LEGAL AND SOCIAL OBLIGATIONS
REGARDING THE COMPOSITION OF ITS WORK FORCE.
»BEGIN IDENTIFYING AND PREPARING POTENTIAL JOB APPLICANTS
WHO WILL BE APPROPRIATE CANDIDATES.
» INCREASE ORGANIZATIONAL AND INDIVIDUAL EFFECTIVENESS IN
THE SHORT TERM AND LONG TERM.
»EVALUATE THE EFFECTIVENESS OF VARIOUS RECRUITING
TECHNIQUES AND SOURCES FOR ALL TYPES OF JOB APPLICANTS.
NEED ARE OF THREE TYPES:
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RECRUITMENT IN INDIAN ORGANISATION
1. PLANNED:
THE NEEDS ARISING FROM CHANGES IN ORGANIZATION AND
RETIREMENT POLICY.
2. ANTICIPATED:
NEEDS ARE THOSE MOVEMENTS IN PERSONNEL, WHICH AN
ORGANIZATION CAN PREDICT BY STUDYING TRENDS IN INTERNAL
AND EXTERNAL ENVIRONMENT.
3. UNEXPECTED:
RESIGNATION, DEATH, ILLNESS, GIVE RISE TO UNEXPECTED NEEDS.
STEPS IN RECRUITMENT PROCESS:
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RECRUITMENT IN INDIAN ORGANISATION
RECRUITMENT IS AN IMPORTANT FUNCTION IN HUMAN RESOURCE
PLANNING. THE RECRUITMENT PROCESS CONSISTS OF THE FOLLOWING
STEPS:-
(1) RECRUITMENT PROCESS BEGINS WHEN THE HUMAN RESOURCE
(PERSONNEL) DEVELOPMENT RECEIVES REQUISITIONS FOR
RECRUITMENT FROM ANY DEPARTMENT OF THE COMPANY. THE HUMAN
RESOURCE (PERSONNEL) REQUISITIONS CONTAIN DETAILS ABOUT THE
POSITIONS TO BE FILLED, NUMBER OF PERSONS TO BE RECRUITED, THE
DUTIES TO BE PERFORMED, QUALIFICATIONS REQUIRED FROM THE
CANDIDATE, TERMS AND CONDITIONS OF EMPLOYMENT, THE TIME BY
WHICH THE PERSON SHOULD BE MADE AVAILABLE FOR EMPLOYMENT
ETC.
(2) THE NEXT STEP IS ASSESSMENT OF PERSONNEL REQUIREMENTS
THROUGH JOB DESCRIPTIONS AND JOB SPECIFICATIONS.
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RECRUITMENT IN INDIAN ORGANISATION
(3) LOCATING AND DEVELOPING THE SOURCES OF REQUIRED NUMBER
AND TYPE OF EMPLOYEES.
(4) IDENTIFYING THE PROSPECTIVE EMPLOYEES WITH PARTICULAR
COMBINATIONS OF SKILL, EXPERIENCE, EDUCATION AND OTHER
PERSONNEL ATTRIBUTES.
(5) COMMUNICATING THE INFORMATION ABOUT THE ORGANIZATION,
THE JOB, AND THE TERMS AND CONDITIONS OF SERVICE.
(6) ENCOURAGING THE IDENTIFIED CANDIDATES TO APPLY FOR JOBS
IN THE ORGANIZATION.
(7) EVALUATING THE EFFECTIVENESS OF RECRUITMENT PROCEDURE.
E-RECRUITMENT:
MANY BIG ORGANIZATIONS USE INTERNET AS A SOURCE OF
RECRUITMENT. E-RECRUITMENT IS THE USE OF TECHNOLOGY TO ASSIST
THE RECRUITMENT PROCESS. THEY ADVERTISE JOB VACANCIES
THROUGH WORLDWIDE WEB. THE JOB SEEKERS SEND THEIR
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RECRUITMENT IN INDIAN ORGANISATION
APPLICATIONS OR CURRICULUM VITAE, I. E., CV THROUGH E-MAIL
USING THE INTERNET. ALTERNATIVELY, JOB SEEKERS PLACE THEIR
CVS IN WORLD WIDE WEB, WHICH CAN BE DRAWN BY PROSPECTIVE
EMPLOYEES DEPENDING UPON THEIR REQUIREMENTS.
EMPLOYERS AND THE JOB SEEKERS ARE FREE FROM SHORTCOMINGS
BUT THE E-RECRUITMENT IS NOT FREE FROM A FEW SHORTCOMINGS.
SOME OF THE ADVANTAGES AND THE DISADVANTAGES OF E-
RECRUITMENT ARE :
# ADVANTAGES OF E-RECRUITMENT ARE:
A) LOWER COSTS TO THE ORGANIZATION. ALSO, POSTING JOBS ONLINE
IS CHEAPER THAN ADVERTISING IN THE NEWSPAPERS.
B) NO INTERMEDIARIES.
C) REDUCTION IN THE TIME FOR RECRUITMENT (OVER 65 PER CENT OF
THE HIRING TIME).
D) FACILITATES THE RECRUITMENT OF RIGHT TYPE OF PEOPLE WITH
THE REQUIRED SKILLS.
E) IMPROVED EFFICIENCY OF RECRUITMENT PROCESS.
F) GIVES A 24 × 7 ACCESS TO AN ONLINE COLLECTION OF RESUMES.
G) ONLINE RECRUITMENT HELPS THE ORGANIZATIONS TO WEED OUT
THE UNQUALIFIED CANDIDATES IN AN AUTOMATED WAY.
H) RECRUITMENT WEBSITES ALSO PROVIDE VALUABLE DATA AND
INFORMATION REGARDING THE COMPENSATION OFFERED BY THE
COMPETITORS ETC. WHICH HELPS THE HR MANAGERS TO TAKE
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RECRUITMENT IN INDIAN ORGANISATION
VARIOUS HR DECISIONS LIKE PROMOTIONS, SALARY TRENDS IN
INDUSTRY.
# DISADVANTAGES OF E-RECRUITMENT
APART FROM THE VARIOUS BENEFITS, E-RECRUITMENT HAS ITS OWN
SHARE OF SHORTCOMINGS AND
DISADVANTAGES. SOME OF THEM ARE :
A) SCREENING AND CHECKING THE SKILL MAPPING AND
AUTHENTICITY OF MILLION OF RESUMES IS A PROBLEM AND TIME
CONSUMING EXERCISE FOR ORGANIZATIONS.
B) THERE IS LOW INTERNET PENETRATION AND NO ACCESS AND LACK
OF AWARENESS OF INTERNET IN MANY LOCATIONS ACROSS INDIA.
C) ORGANIZATIONS CANNOT BE DEPENDENT SOLELY AND TOTALLY ON
THE ONLINE RECRUITMENT METHODS.
D) IN INDIA, THE EMPLOYERS AND THE EMPLOYEES STILL PREFER A
FACE-TO-FACE INTERACTION RATHER THAN SENDING.
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Chapter 2
What is it?
Information Technology (IT) definition
Information technology (IT) is the use of any computers, storage, networking and other
physical devices, infrastructure and processes to create, process, store, secure and exchange
all forms of electronic data.
Typically, IT is used in the context of enterprise operations as opposed to personal or
entertainment technologies. The commercial use of IT encompasses both computer
technology and telephony.
The term information technology was coined by the Harvard Business Review, in
order to make a distinction between purpose-built machines designed to perform a
limited scope of functions and general-purpose computing machines that could be
programmed for various tasks. As the IT industry evolved from the mid-20 th century,
it encompassed transistors and integrated circuits -- computing capability advanced
while device cost and energy consumption fell lower, a cycle that continues today
when new technologies emerge.
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RECRUITMENT IN INDIAN ORGANISATION
History of computer technology:
Devices have been used to aid computation for thousands of years, probably initially
in the form of a tally stick. The Antikythera mechanism, dating from about the
beginning of the first century BC, is generally considered to be the earliest known
mechanical analog computer, and the earliest known geared mechanism. Comparable
geared devices did not emerge in Europe until the 16th century, and it was not until
1645 that the first mechanical calculator capable of performing the four basic
arithmetical operations was developed.
Electronic computers, using either relays or valves, began to appear in the early
1940s. The electromechanical Zuse Z3, completed in 1941, was the world's first
programmable computer, and by modern standards one of the first machines that
could be considered a complete computing machine. Colossus, developed during the
Second World War to decrypt German messages was the first electronic digital
computer. Although it was programmable, it was not general-purpose, being designed
to perform only a single task. It also lacked the ability to store
its program in memory; programming was carried out using plugs and switches to
alter the internal wiring. The first recognisably modern electronic digital stored-
program computer was the Manchester Small-Scale Experimental Machine (SSEM),
which ran its first program on 21 June 1948.
The development of transistors in the late 1940s at Bell Laboratories allowed a new
generation of computers to be designed with greatly reduced power consumption. The
first commercially available stored-program computer, the Ferranti Mark I, contained
4050 valves and had a power consumption of 25 kilowatts. By comparison the first
transistorised computer, developed at the University of Manchester and operational by
November 1953, consumed only 150 watts in its final version.
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RECRUITMENT IN INDIAN ORGANISATION
It hardware and software:
IT includes several layers of physical equipment (hardware), virtualization and
management or automation tools, operating systems and applications (software) used
to perform essential functions. User devices, peripherals and software, such as
laptops, Smartphone’s or even recording equipment, can be included in the IT
domain. IT can also refer to the architectures, methodologies and regulations
governing the use and storage of data.
Business applications include databases like SQL Server, transactional systems such
as real-time order entry, email servers like Exchange, Web servers like Apache,
customer relationship management and enterprise resource planning systems. These
applications execute programmed instructions to manipulate, consolidate, disperse or
otherwise affect data for a business purpose.
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RECRUITMENT IN INDIAN ORGANISATION
Computer servers run business applications. Servers interact with client users and
other servers across one or more business networks. Storage is any kind of technology
that holds information as data. Information can take any form including file data,
multimedia, telephony data and Web data, data from sensors or future formats.
Storage includes volatile random access memory (RAM) as well as non-volatile tape,
hard disk and solid-state flash drives.
IT architectures have evolved to include virtualization and cloud computing, where
physical resources are abstracted and pooled in different configurations to meet
application requirements. Clouds may be distributed across locations and shared with
other IT users, or contained within a corporate data center, or some combination of
both deployments.
India IT Industry:
The Indian IT industry is mainly governed by IT software and services
such as System Integration, Software experiments, Custom Application
Development and Maintenance (CADM), network services and IT
Solutions. According to the findings of National Association of Software
and Service Companies (Nasscom) the revenues of the Indian IT-BPO
industry will aggregate up to US$ 88.1 billion for the FY2011. The IT
software and services sector alone will account for revenues up to US$
76.1 billion for the same year. The export revenues earned by the sector
will reach US$ 59 billion in FY2011making the sector a holder of 26 per
cent of market share of the total Indian export industry. The number of
people employed with the sector will also increase to 2million employees.
Within the realm of exports the IT Services division grew at a rate 22.7
per cent in FY2010. It was the fastest growing sector accounting to
aggregate export revenues of US$ 33.5 billion
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RECRUITMENT IN INDIAN ORGANISATION
IT Outsourcing in India:
As per NASSCOM, the IT export in business process outsourcing (BPO)
services attained revenues of $ 17.2 billion for the 2010-11going up by
almost 34.5 as compared to last year. It accounted for more than 77% of
the entire software and services income. Over the year India has been the
most favorable outsourcing hub for firms on lookout to off shore their IT
operations. The factor behind India being a preferred destination are its
reasonably priced labor, favorable business ambiance and availability
of expert workforce. Considering its escalating growth, Patni Computer
Systems the(IT) services and solution giants in India have sealed a five-
year contract with UK-based IT solution provider 2 e 2 worth US$
32.09million. According to the agreement Patni will offer a host
of support services to 2 e 2’s clients and end users. A 5 year agreement
between HCL Technologies and News Crop for administering its
information centers and IT services in UK. As per the industry analyses,
the pact is estimate to be in the range of US$ 200-US$ 250 million.US$
50 million agreement between HCL Technologies and Meg get, US-
based security apparatus manufacturer, for offering engineering facilities.
Global giant Wal-Mart has short listed their Indian IT dealers namely
Cognizant Technology Solutions, UST Global and Infosys Technologies
for a contract worth US$ 600 million.
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RECRUITMENT IN INDIAN ORGANISATION
India's domestic IT Market:
India's domestic IT Market over the years has become one of the major
driving forces of the industry. The domestic IT infrastructure is
developing contexts of technology and intensity of penetration. Despite
resistance by Barack Obama against outsourcing the Indian IT/BPO
industry still show an impressive rate of growth. According to a study
conducted by Gartner, the IT/ BPO sector in India will grow at almost 19
percent till the next two years. By the end of the FY 2012, the domestic
sector is estimated to expand to US$1.7 billion against the existing US$ 1
billion.
Government initiative in India's domestic IT Market
The Indian government has established a National Taskforce on IT with
anaim of formatting a durable National IT Policy for India
•
Endorsement of the IT Act, which offers an authorized structure to assist
electronic trade and electronic operations.
Major investments in India's domestic IT Market
According to Andhra Pradesh Government the state's SEZs and Software
Technology Parks of India (STPI) will witness an investment of US$ 3.27
billion in the next few years.
Future of Indian it industry:
The Indian IT sector persists to be one of the flourishing sectors of Indian
financial system indicating a speedy expansion in the coming years. As
per NASSCOM, the Indian IT exports are anticipated to attain US$ 175
billion by 2020 out of which the domestic sector will account for US$ 50
billion in earnings. In total the export and domestic IT sector are expected
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to attain profits amounting to US$ 225 billion along with new prospects
from BRIC nations and Japan for its outsourcing operation
Top 5 Information Technology (IT) Companies
in World 2015:
Information Technology (IT) Sector is becoming a sector which is not
driving its own growth but it helps other sectors grow too. Most of the
sectors and businesses depend on IT to get their processes automated and
streamlined. With advent of Smartphone’s computing has gone to next
level, the IT companies now are working on computing, mobility,
applications for B2B as well as B2C sectors. The beginning of the list has
companies like Adobe with IT companies like Cognizant, Cap gemini
forming the middle order. Top Ranks are taken by tech giants like Oracle,
Microsoft, IBM, Accenture.
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Top 5 I.T in the world is as follow:
1. Microsoft Corporation
Microsoft Corporation is an American multinational technology
company. It is headquartered in Redmond, Washington.
Revenue: $93.27 B
Market Capitalization: $340.8 B
Its offerings include computer software, consumer electronics and
personal computers and services. It is best known for its software
products such as the Microsoft Windows line of operating systems,
Microsoft Office suite, Internet Explorer web browser and recently
acquired Skype.
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Bill Gates and Paul Allen founded Microsoft on April 4, 1975. In the
mid-1980s, Microsoft dominated the personal computer operating system
market with MS-DOS, followed by Microsoft Windows. It has
increasingly diversified from the operating system market and focused on
a number of corporate acquisitions. In May 2011, Microsoft acquired
Skype Technologies for $8.5 billion in its largest acquisition to date.
Post-organizational restructuring in July 2013, the company operates
through five segments: devices and consumer licensing, devices and
consumer hardware, devices and consumer other, commercial licensing
and commercial other. Devices and consumer licensing segment
addresses Windows OS and related software, their licensing, Windows
original equipment manufacturing licensing and MS office products for
consumers. Devices and consumer hardware segment addresses Xbox
gaming and entertainment consoles, its subscription and PC accessories
and video game royalties. Devices and consumer other segment operates
through resale of Windows store, Windows phone store and advertising,
and Xbox live transaction.
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2.IBM
IBM is one the of the most prominent IT companies in the world.
Revenue: $93.4 B
Market Capitalization: $160.2 B
It has a strong presence in over 170 countries and over 370,000 people
are employed by the organization worldwide. IBM was found in 1911,
and in the last 100 years of its existence, it has left a huge mark on the
world with its expertise in the field of information technology. IBM
manufactures and markets computer hardware, middleware and software,
and offers infrastructure, hosting and consulting services in areas ranging
from mainframe computers to nanotechnology.
3. Oracle Corporation
The Oracle Corporation, a multinational technology firm based in
Redwood City, California, United States.
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Revenue: $38.84 B
Market Capitalization: $187.6 B
It was founded in 1977 by Larry Ellison, Ed Oates and Bob Miner under
the name Software Development Laboratories (SDL).
On January 27, 2010, Oracle announced its acquisition of Sun
Microsystems. The acquisition valued at more than $7 billion helped
transforming Oracle from solely a software company to both software and
hardware manufacturer.
Oracle’s core strengths include diversified geographical presence across
145 countries and a strong customer base. The company adopted an
inorganic growth strategy and acquired a number of companies for
portfolio diversification. From the data center to the cloud, Oracle
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eliminates the complexity that stifles business innovation, as well as
engineers in speed, reliability, manageability and security. Oracle delivers
a portfolio of cloud solutions for business, IT, and development needs.
These include software as a service (SaaS), infrastructure as a service
(IaaS), platform as a service (PaaS) and data as a service (DaaS).
4. Accenture
Accenture is a global IT company which is one of the leading companies
since 1989
Revenue: $ 32.8 B
Market Capitalization: $ 63.5 B
Accenture is one of the leading global IT companies in the world, with its
presence across 200 cities in 120 countries. Over 330,000 people are
employed with this global giant IT and business consulting brand. Head
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quartered in Dublin, Ireland, the company is listed in New York Stock
Exchange, and has been a market leader receiving several accolades
throughout its life.
5. SAP SE
SAP SE is a German multinational software corporation.
Revenue: $23.29 B
Market Capitalization: $90.2 B
SAP provides enterprise software to manage customer relations and
business operations. SAP is based in Walldorf, Baden-Württemberg,
Germany. In June, 1972, five IBM engineers from the AI department
(Dietmar Hopp, Hasso Plattner, Klaus Tschira, Hans-Werner Hector, and
Claus Wellenreuther founded Systemanalyse und Programmentwicklung
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or SAP ("System Analysis and Program Development"). SAP became a
European Company (Societas Europaea or SE) from AG in 2014.
Globally SAP holds the leading position in enterprise applications in
terms of software and software-related service revenue. SAP is the
world’s third largest independent software manufacturer on the basis of
market capitalization. It is also the market leader in analytics, applications
and mobility solutions. It is the fastest growing company at scale in the
cloud. SAP HANA is the market-leading platform for real-time
computing. SAP serves more than 291000 customers in 190 countries
with more than 80% of its customers being SMEs. SAP empowers people
and organizations to master complexity with simple, easy to use and
innovative solutions. SAP applications and services enable its clients to
operate profitably and grow sustainably
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Top 10 it company in India:
Company name: Revenue: Net profit: Market
capitalization:
1)TCA- Tata
consultancy service
6467.93 crore 18474.92cro
re
487919.14crore
.
2) Infosys 44341 crore 10194 crore 221528.83
crore
3) Wipro 38757.2 crore 7387.4 crore 132380.73
crore
4)HCL technology 16497.37 crore 5984.62
crore
129933.28
crore
5)Tech mahindra 16295.1 crore 2685.5 crore 58621.88 crore
6)Oracle financial
service
315.47 crore 1148.36
crore
29538.11 crore
7)Mindtree 3031.6 crore 451.2 crore 11148.64 crore
8)Mphsis 1328.87 crore 223.08 crore 8132.48 crore
9)Rolta 1142.89 crore 459.39 crore 1786.72 crore
10)cyient 1224.49 crore 254.91 crore 5725.92 crore
Details of the company:
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1. TCS - Tata Consultancy Services
Tata Consultancy Services, founded in the year 1968 is headquartered in
Mumbai, India.
Home to more than three lakh people TCS is placed among the most
valuable ‘Big4’ IT Service brand Worldwide. It has been the face of
Indian IT Industry. TCS provides umbrella of services to its customer
some of which are Performance Management, Business Process Service,
Consulting, Enterprise Solutions, iON Small and Medium Enterprise, IT
Services. TCS BaNCS, TCS MasterCraft, TCS Technology Products are
some of its well-known software. TCS, leading the way for Indian IT
firms has also made in the Top 100 Brand Finance List in the USA. In the
recent accolades TCS was ranked number 1 IT Service provider for
Manufacturing in Europe, Middle East and Africa by International
Corporation in 2014.
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2. Infosys
Infosys, founded in the year 1981 has been headquartered in Bengaluru,
India.
It is a home to more than 175000 people with many famous Indian
personalities coming from its structure like Mr. Narayan Murthy,
Nandan Nilekani to name a few. It is a major powerhouse that
operates into business consulting, information technology, software
engineering and outsourcing services. Presently headed by Vishal
Sikka, Infosys has signed an MOU with local Chinese provincial to
open first overseas campus in China. Infosys has nearly 890 clients
across 50 countries according to latest data known till 31st March,
2014. It can boost of world’s largest corporate university in
Mysore. It get ranked constantly in the world’s top 20 most
innovative companies list brought out by Forbes and green
companies ranking by Newsweek.
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3. Wipro
Wipro, founded in 1945 entered into the IT domain in the year 1980 and
since then has become one of the biggest IT Company in the world.
Headquartered in Bengaluru, India it is headed by Azim Premji, It was
the first software company to get SEI CMMI Level 5 back in 2002. It has
been accredited with many first in IT Industry like introducing Lean
Management in Service Industry. Home to more than 1 lakh 50 thousand
people, Wipro Technologies Applying Thoughts has lead it to be one of
the most preferred IT vendors. Cognitive Systems, Smart Devices, Man-
machine Interface are few of the future drivers it has been focusing on.
Wipro has been selected by DJSI as World Member for the fifth
consecutive year and is also recognised with prestigious Golden peacock
Award 2014 in the category of ‘Innovative product/Service’ for Wipro’s
Assure Health Solutions.
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4. HCL Technologies
HCL Technologies, founded in the year in 1976 by Mr. Shiv Nadar is headquartered
in Noida, India.
HCL has offices in around 35 countries globally and is home to hundred thousand
people. Various business lines in which HCL has its presence are Business Services,
Custom Application Services, Engineering R&D, Enterprise Transformation Services
and IT Infrastructure Management Services. As part of their growth strategy they
have alliances with nearly 100 companies in various technological areas which act as
a mutual beneficial experience. Their global strategic alliances covers 360 degree
relationships across multiple geographies and industry verticals. It has been rated as a
leader in IDC SAP Marketplace, Cloud Services Marketplace.
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5. Tech Mahindra
Tech Mahindra, founded in the year 1986 is headquartered in Pune, India.
It is home to nearly 98000 people and has its presence across 51 countries
with CP Gurnani as its Present CEO. It is SEI CMMi Level 5.OrderFix,
mEMS, Socio, Tecnico, OrderVu are various platforms which Tech
Mahindra expertise into. Solutions and Services Provided by Tech
Mahindra includes Consulting, Enterprise Business Solutions, Mobility
and Integrated Engineering Solutions, Product Life Cycle Management.
With Anand Mahindra as it Chairman, the company is under a safe and
ethical business person who shall leave no stone unturned to take the
companies to more glorious heights. It is recipient of various awards with
the important ones being Golden Peacock Award, Leader in Excellence in
IT etc.
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6. Oracle Financial Services
Oracle Financial Services, founded in the year 1990 is headquartered in
Mumbai, India.
It is said to be a subsidiary of Oracle Corporation with focus being as an
IT solution provider to the Banking Industry. Its present CEO is Mr.
Chaitanya M Kamat and the company is home to nearly nine thousand
employees. It is present in nearly 145 countries. Oracle Financial Services
has various business products such as Oracle FLEXCUBE universal
Banking Suites, Oracle Financial Services Analytical Applications for
Customer Insight, Infrastructure, Enterprise Risk Management, Financial
Crime and Compliance Management
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and Financial Services Data Warehouses. It also won the Fraud and
Financial Crime Software Provider of the year-2014.
7. Mindtree
Mindtree, founded in the year 1999 by ten IT professionals is
headquartered in Bengaluru, India. Its present CEO is Krishnakumar
Natarajan.
Its employee stands at around 14000 employees. It has presence in eight
countries apart from India. Application Development and Maintenance,
Data Analytics, Digital Services, EAI BPM, Engineering R&D,
Enterprise Application Services, Independent Testing, Infrastructure
Management Services are few of the services it expertise into with
industries like Banking and Capital markets, Consumer Devices and
Electronics, Manufacturing, Insurance, Media & Entertainment, Retail
being its major focus. Mindtree was named a leader in Zinnov’s Global
R&D Services Provider Ratings for the third year.
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8. Mphasis
Mphasis, incorporated in the year 2000 is headquartered in Bengaluru,
India.
Balu Ganesh Ayer is the present CEO of the company which homes to
around 48000 people. It has its presence in tier II cities in India such as
Vadodara, Indore, Bhubaneswar, Pune etc apart from being present in
metros such as Chennai and Mumbai. It also has more than 30 office
globally in 19 countries with Hewlett Packard being its largest client. The
Industries it expertise in involves Banking and Capital Markets, Insurance
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and enterprises such as Energy, Healthcare, Hospitality, Life Sciences,
Manufacturing, Media & Entertainment, Telecom and Government. With
its Solutions such as Billing as a Service, Digital Customer Experience,
NextAngles, Protecht Mphasis is making good stride in the field of
technology. Its recent award involve being recognised in 2015 Innovation
and Excellence Award for Global Technological Solution Services by
Corporate Liveware.
9. Rolta
Rolta, founded in the year 1989 by Mr. Kamal K Singh is headquartered
in Mumbai, India.
It is home to nearly 5000 employees and boosts of a very high profit
margin as compared to its competitors. It has executed projects in more
than forty countries and expertise in industrial verticals such as Utilities,
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Process, Transportation, Banking and Insurance, Power etc. Their growth
strategy is a balanced focus on organic growth, joints ventures and
acquisitions and believe in being an end to end solution provider. The
company has a huge list of accolades with the major ones being the SAP
Pinnacle award 2014, Oracle ‘Titan’ and Partner Excellence, and
Municipalika 2014 Award for best range of municipal Solutions. Some of
the solutions they expertise into are BI and Big Data Analytics, Cloud,
Geo Spatial Solutions, e-go It is home to nearly 5000 employees and
boosts of a very high profit margin as compared to its competitors. It has
executed projects in more than forty countries and expertise in industrial
verticals such as Utilities, Process, Transportation, Banking and
Insurance, Power etc. Their growth strategy is a balanced focus on
organic growth, joints ventures and acquisitions and believe in being an
end to end solution provider. The company has a huge list of accolades
with the major ones being the SAP Pinnacle award 2014, Oracle ‘Titan’
and Partner Excellence, and Municipalika 2014 Award for best range of
municipal Solutions. Some of the solutions they expertise into are BI and
Big Data Analytics, Cloud, Geo Spatial Solutions, e-governance, safety
and security.vernance, safety and security.
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10. Cyient
Cyient, previously known as Infotech Enterprises, was founded by Mr.
B.V.R. Mohan Reddy in the year 1991 and is headquartered in
Hyderabad, India.
It is home to more than 12000 employee and has it presence in nearly
twenty countries with 38 offices globally. The company generally
acquires other companies as part of its growth strategy with Rangsons
Electronics being its latest acquisition in 2015. The company expertise in
Outsourcing activities and has clients from diverse Industries such as
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aerospace & defense, consumer, energy, transportation, communications,
navigation, off-highway, oil and gas, mining, medical etc. The company
has been recently awarded with ICSI National Award for Excellence in
Corporate Governance 2014.
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Company profile
Euronet worldwide, inc. was founded in 1994 with a mission to bring electronic financial payment convenience to millions of people in emerging and developed markets around the world. Today, Euronet is a global provider of electronic payment and transaction processing solutions for financial institutions, retailers, service providers and individual consumers through three primary business segments — Electronic Financial Transactions, Prepaid and Money Transfer.
Type: private limited held.
Founded: 1994
Headquarter: leawood, Kansas, us.
Company size: 155 countries.
Industry: consultant service.
Full time employee: 4600
Websites: www.euronetworldwide.
Key Executives
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PayExercise
d
Mr. Michael J. Brown , 58
Founder, Chairman and Chief Exec. Officer2.13M 827.00K
Mr. Rick L. Weller , 57
Chief Financial Officer and Exec. VP922.00K 0.00
Mr. Kevin J. Caponecchi , 48
Exec. VP and Chief Exec. Officer of epay, Software
and EFT Asia Pacific Division
923.00K 1.93M
Mr. Juan C. Bianchi , 44
Exec. VP and Chief Exec. Officer of Money
Transfer Segment
695.00K 0.00
Mr. Nikos Fountas , 51
Exec. VP and Chief Exec. Officer of EFT Europe,
Middle East & Africa Division
880.00K 0.00
Business summary:
Euronet Worldwide, Inc. provides payment and transaction processing
and distribution solutions to financial institutions, retailers, service
providers, and individual consumers worldwide. The company operates in
three segments: Electronic Financial Transaction (EFT) Processing, epay,
and Money Transfer. The EFT Processing segment provides electronic
payment solutions, including automated teller machine (ATM) cash
withdrawal and deposit services, ATM network participation, outsourced
ATM and point-of-sale (POS) management solutions, credit and debit
card outsourcing, card issuing, and merchant acquiring services. This
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segment also offers ATM and POS dynamic currency conversion,
advertising, customer relationship management, mobile top-up, bill
payment, fraud management, and foreign remittance payout services; and
integrated EFT software solutions for electronic payments and transaction
delivery systems. As of December 31, 2014, it operated a network of
20,364 ATMs; and approximately 69,000 POS terminals. The epay
segment engages in the electronic distribution and processing of prepaid
mobile airtime and other electronic payment products; and provision of
collection services for payment products, cards, and services, as well as
vouchers and physical gift fulfillment, and gift card distribution and
processing services. This segment operated a network of approximately
681,000 POS terminals. The Money Transfer segment provides
consumer-to-consumer, and account-to-account money transfer services;
customers bill payment services; payment alternatives, such as money
orders and prepaid debit cards; check cashing services for various issued
checks; foreign currency exchange and mobile top-up services; and cash
management and foreign currency risk management services. The
company was formerly known as Euronet Services, Inc. and changed its
name to Euronet Worldwide, Inc. in August 2001. Euronet Worldwide,
Inc. was founded in 1994 and is headquartered in Leawood, Kansas.
HISTORY:
It all started with one ATM installation…
Euronet Worldwide, Inc. was founded in 1994 to bring ATM transaction
convenience to the cash-based Central European community. Today
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Euronet is an industry leader in processing secure electronic financial
transactions and serves clients in approximately 155 countries.
From the installation of one ATM, Euronet's products and services have
rapidly grown to include comprehensive payment and transaction
processing solutions which include ATM and POS operation and
management services; credit and debit card outsourcing services; card
issuing and merchant acquiring services; integrated transaction software
solutions; consumer-to-consumer and account-to-account money transfer
and bill payment services; and electronic distribution for prepaid mobile
airtime and other prepaid products. Dedicated people, integrated products
and global presence continue to serve as the cornerstones of the
Company's structure supporting the mission upon which Euronet was
founded ‘to deliver electronic financial payment convenience to our
customers in emerging and developed markets.
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1994 Founded in Budapest, Hungary as Bank Access 24 with aim of
establishing first independent ATM network in Central and Eastern
Europe
1995 Installs first ATM in Hungary
Approved by Visa® and American Express® to process ATM
transactions
1996 Launches ATM networks in Poland and Germany
Approved by Europe (MasterCard®) to process ATM
transactions
1997 Completes initial public offering of approximately 6.0 million
shares of common stock at $13.50 per share on NASDAQ (EEFT)
Signs first ATM outsourcing agreement with Budapest Bank in
Hungary
Launches offices in Romania and Croatia to implement signed
outsourcing agreements
1998 Continues European expansion by signing outsourcing
agreements in the United Kingdom, Czech Republic and France
Installs ATMs in the United Kingdom
Acquires Arkansas Systems, Inc.® (ARKSYS), leading
developer of integrated transaction software based in Little Rock,
Arkansas, USA
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1999 Launches mobile recharge on ATMs and mobile banking
products for bank customers
2000 Enters Asian market by launching operations in Indonesia to
service a shared ATM network owned by three local banks
Sets-up ATM outsourcing operations in Greece
Changes name to Euronet Worldwide, Inc. to reflect global
presence
2001 Forms Cashnet™, joint venture to develop and operate an
electronic funds transfer network for banks and card issuers in
Egypt
2002 Launches prepaid recharge services program PaySpot in the
United States
Enters India with ATM outsourcing agreement
Forms EuroPlanet d.o.o. Beograd, joint venture to provide
electronic funds transfer services for banks and card issuers in
Serbia
2003 Sells ATM network in the United Kingdom and simultaneously
signs five-year ATM outsourcing agreement with the buyer
Launches processing services for prepaid products, primarily
prepaid mobile airtime, by acquiring e-pay Ltd. in the United
Kingdom, Australia and Malaysia
Launches Cashnet, India's first and now largest nationwide
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shared ATM network
e-pay expands prepaid business into New Zealand, Poland and
Ireland
Acquires transact GmbH, prepaid and payments processor in
Germany
Expands PaySpot, U.S. prepaid brand, by acquiring five prepaid
companies from 2003 to 2005
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2004 Enters Spanish prepaid market with acquisition of MovilCarga
Subsequently in 2005, acquires TeleRecarga S.A. in Spain to
further strengthen its prepaid market position
Acquires 10% ownership stake in ATX Software Ltd., provider
of electronic prepaid voucher solutions in Europe, Africa and other
regions
Subsequently in 2005, increases total ownership stake to 51%
to gain controlling share in ATX
2005 Launches money transfer and bill payment services with
acquisition of Telecomm USA
Ranks #34 on FORTUNE's List of 100 Fastest-Growing
Companies
Acquires Instreamline S.A., Greek company that provides
credit/debit card and POS outsourcing services in Greece and the
Balkan region
Acquires EuroPlanet d.o.o. Beograd, Serbian company that
provides debit card, ATM and POS outsourcing services in Serbia,
Montenegro and Bosnia & Herzegovina
2006 Launches ATM outsourcing operations in China
Ranks #36 on FORTUNE's List of 100 Fastest-Growing
Companies
2007 Acquires prepaid mobile airtime processor Brodos SRL in
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Romania
Ranks #7 on Forbes List of 25 Fastest-Growing Technology
Companies
Acquires Omega Logic Ltd. and consolidates position as largest
electronic payments processor of prepaid mobile airtime top-up
services in the United Kingdom
Signs first Single Euro Payments Area (SEPA) compliant cross-
border merchant acquiring agreement with OMV Refining &
Marketing GmbH, leading oil and gas group in Central Europe
Completes acquisition of RIA Envia, Inc., third-largest global
money transfer company with sending network in North America,
the Caribbean, Europe and Asia-Pacific
Launches prepaid services in Italy, Europe's largest prepaid
market, and India
Ranks #28 on Forbes List of 200 Best Small Companies List
Processes more than one billion annual payment transactions
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2008 Ranks #4 on Forbes list of 25 Fastest-Growing Technology
Companies
Signs prepaid agreement with Aral AG, Germany's largest
operator of petrol stations
Wins Cards International Global Awards 2008 'Merchant
Acquirer of the Year' in recognition for launching first SEPA
compliant cross-border merchant acquiring solution in Europe
Signs prepaid agreement with Caltex Australia Petroleum Pty
Limited, Australia's largest petrol convenience retailer,
significantly strengthening prepaid position in the Australian
market
Launches prepaid in Greece, a market where 10% of the 10
million prepaid subscribers top-up through electronic distribution
Enters new money transfer market with the launch of money
transfer send operations in Belgium
Repurchases $70 million in principal amount of the $140 million
in 1.625% convertible debentures, resulting in total debt
reduction and an improvement in the Company's debt to adjusted
EBITDA ratio
Recognizes a non-cash goodwill impairment charge of
approximately $220 million due largely to the weakening global
economy and significant declines in the stock markets
Amends certain covenants in credit agreement, proving sufficient
liquidity to meet the likely put of remaining convertible
debentures
Crosses one billion mark in annual revenues
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2009 Launches new global brand identity in the Prepaid Segment –
epay!
epay Australia subsidiary signs long-term prepaid distribution
agreement with Vodafone Australia
Launches a wide range of new, innovative non-telecom products
including transport payment solutions in Australia, Poland and
the UK, digital content distribution for iTunes, online video
games, and stored value/gift card solutions in various countries
Expands the opportunity for retail channel presence in Europe by
obtaining a PSD license (Payment Services Directive) which
provides a single regulatory platform to conduct business across
the European Union
Develops and launches new value added services for ATMs,
including Dynamic Currency Conversion which allows
customers to be aware of the local currency-equivalent of a
foreign currency transaction, and card-less ATM Money
Transfer Payouts which allows money transfer recipients to
withdraw funds from Euronet ATMs using a unique PIN code
Processes approximately 1.5 billion transactions across all three
business segments
Continues debt reductions through repurchase of remaining
1.625% Convertible Senior Debentures
Acquires Mellon Transactions Solutions (MTS) in Serbia, a
company that offers card issuing and acquiring solutions to
financial institutions in Serbia, Egypt, Cyprus and Albania, and
positions Euronet as the leading processor in Serbia.
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Secures new orders directly from local China Postal Bank
provinces, including Postal Hebei, Shanghai and Bejing
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RECRUITMENT IN INDIAN ORGANISATION
2010 Expands into the largest South American market with the
acquisition of epay Brazil
Renames the former Prepaid Segment to epay, and reintroduces
the segment – now one of the largest cash collection networks in
the world – under the new name
Completes the cross-border OMV project in the EFT segment
which includes 3,800 devices in nine countries
Drives EFT branding toward “Business Partner” to better
leverage expanded product and service capabilities
Improves epay value proposition by expanding higher-margin
non-mobile products offerings to include Microsoft Office, the
first transport product implementation in the U.S. (Florida
Turnpike Sunpass) and the German lottery in Berlin and
Brandenburg
Signs significant long-term agreements with 7-Eleven and Cash
Store Financial for money transfer and bill payment services
Grows Money Transfer footprint in Europe, launching active
service in nine countries
Receives credit rating upgrade from Moody’s based upon
Euronet’s track record of steady debt reduction, EBITDA growth
and stable free cash flow generation
2011 Launches EFT Processing Center in Pakistan. It is the first
Institution to obtain PCI-DSS certification which makes Euronet
the only Payments Processor in Pakistan to offer Secure
Financial Services under guidelines of Payment Card Industry
(PCI)
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RECRUITMENT IN INDIAN ORGANISATION
Announces the closing of an amended and expanded five-year,
$355 million senior secured credit facility with a syndicate of
financial institutions. It replaces a $100 million revolving line of
credit and a $126 million term loan maturing April 2012 and
April 2014, respectively.
Announces authorization the repurchase in privately negotiated
transactions of any or all of its $175 million 3.50% Convertible
Debentures. Additionally, the company announced authorization
to repurchase up to $100 million or 5 million shares of Euronet
Worldwide, Inc. common stock outstanding.
Acquires cadooz, Germany's largest full-service provider of
vouchers, innovative merchandise and incentive solutions.
Acquires 535 ATMs from Diebold’s cash4you Network.
Acquires PayNet, a provider of integrated ATM outsourcing
services, card issuing and acquiring and POS merchant servicing
solutions to financial institutions in Romania.
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RECRUITMENT IN INDIAN ORGANISATION
2012 Deploys first independent and shared Automated Deposit
Terminal Networks in Europe through agreements with banks in
Poland and Romania
Expands Independent ATM Networks to Spain and Italy,
marking the first IAD networks launched without a sponsor bank
Expands senior secured credit facility from $275 million to $400
million
Acquires ezi-pay, New Zealand's market leader for gift card
processing and distribution.
2013 Acquires Pure Commerce, a fast-growing provider of cloud-
based financial and payment solutions to banks, acquirers and
global retailers around the world.
Receives Investment Grade Credit Rating from Standard &
Poor's.
2014 Acquires ATM estate of Banca Comerciala Carpatica, doubling
independent network in Romania.
Amends and Expands Credit Facility from $466 million to $675
million with several more favorable terms, including the
extension of the maturity 5 years to April 2019.
Walmart Introduces Walmart-2-Walmart domestic money
transfer service powered by Ria.
Ria unveils all new RiaMoneyTransfer.com
Acquires HiFX, a provider of online initiated, account-to-
account international payments and foreign exchange services
for businesses and high net worth individuals.
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RECRUITMENT IN INDIAN ORGANISATION
Successfully issued $402.5 million, 1.5%, convertible notes in
October 2014.
2015 Expands Independent ATM Networks to Cyprus, Portugal and
the Netherlands.
Expanded Independent ATM Network to Malaysia, representing
Euronet's first Independent Network in Asia.
Acquires leading Malaysian-based money transfer provider IME.
Acquires XE, the World's trusted currency authority.
Ria wins Walmart Services "Supplier of the Year" for the second
consecutive year.
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SERVICE:
DEDICATED PEOPLE, INTEGRATED
PRODUCTS, GLOBAL PRESENCE.
Euronet Worldwide, Inc. (NASDAQ: EEFT) facilitates the movement of
payments around the world and serves as a critical link between our
partners — Financial Institutions, Retailers, Service Providers — and
their end Consumers, both locally and globally. Founded in 1994,
Euronet has established itself as a leading electronic payments provider.
Euronet's customers are served from three core business
segments: Electronic Financial Transactions (EFT - including Payments
Software), Prepaid (epay) and Money Transfer. In 2014, the Company
processed approximately $72 billion in ATM, prepaid and money transfer
payments for approximately 200 financial institutions, 200 mobile
operators, approximately 554,000 retailer and agent locations, and
millions of individual consumers worldwide.
Euronet's accomplishments include:
Powers Walmart-2-Walmart, Walmart's domestic money transfer
product.
Operating one of the largest global money transfer companies in the
world
Processing as the largest payment network in the world for prepaid
mobile top-up
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RECRUITMENT IN INDIAN ORGANISATION
Euronet's industry accolades include:
Ranking two consecutive years on Forbes magazine's list of 25 Fastest-
Growing Technology Companies
Ranking two consecutive years on FORTUNE magazine's list of 100
Fastest-Growing Companies
Winning 'Merchant Acquirer of the Year' at the Cards International
Global Awards in 2008
Winning "Most Innovative Hosted/Cloud Service Award" from Cisco
in 2011
Awarded Walmart Services "Supplier of the Year Award" in 2014 and
2015.
Winning Walmart Services "Service Excellence Award" in 2015.
Euronet is comprised of three primary business segments:
Electronic Financial Transactions (EFT - including
Payments Software)
Prepaid (epay)
Money Transfer
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RECRUITMENT IN INDIAN ORGANISATION
I. Electronic Financial Transactions (EFT –
Including Payments Software)
The Electronic Financial Transactions (EFT – including Payments
Software) Segment provides comprehensive electronic payment solutions
consisting of Independent ATM Networks (IADs); ATM network
participation; ATM outsourcing – including Automated Deposit
Terminals (ADTs), POS solutions; credit and debit card outsourcing; card
issuing and merchant acquiring services; value-added service products
and a suite of integrated EFT software solutions for electronic payment
and transaction delivery systems.
E.F.T segment:
Operates Independent ATM Networks (also called Shared Networks) in
Poland, Germany, Czech Republic, Ukraine, Romania, Greece, Croatia,
Spain, Italy, Hungary, Austria, Denmark, Cyprus, France, Portugal,
Netherlands, Malaysia, and the United Kingdom
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RECRUITMENT IN INDIAN ORGANISATION
Owns and operates transaction processing centers in Hungary, Pakistan,
India and China
Processes transactions for a network of 21,128 ATMs and
approximately 46,000 POS terminals in 49 countries
Dispenses approximately $44 billion in cash from ATMs and processes
approximately 1.3 billion transactions annually.
Provides payments software solutions to approximately 120 customers
in 50 countries
II. Prepaid (epay)
Our Prepaid (epay) Segment provides electronic payment products and
services to enable service providers to reach their end consumers. epay's
product portfolio includes top-up or recharge services for prepaid mobile
airtime; prepaid debit cards and e-wallets; payment services for bills, road
tolls and money transfer; and marketing and distribution services for gift
cards, digital content, lottery and transport tickets. Operates a worldwide
network of approximately 665,000 POS terminals across approximately
312,000 retailer locations in 34 countries.
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epay segment:
Offers a full cash collection and settlement service
Processes approximately $13 billion and approximately 1.2 billion
transactions annually
III. Money Transfer
Our Money Transfer segment consists of four brands, Ria Money
Transfer (Ria), HiFX, IME and XE. Ria and IME provide global
consumer-to-consumer money transfer services through a sending
network of agents and Company-owned stores and on-line, disbursing
money transfers through a worldwide payer network. In addition to
money transfers, Ria offers consumers bill payment services, prepaid
debit cards, check cashing and other financial services.
HiFX and XE provide on-line initiated, account-to-account international
payment and foreign exchange services to businesses and high net worth
individuals.
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RECRUITMENT IN INDIAN ORGANISATION
Money Transfer Segment:
Owns and operates a transaction processing centers in the United
States, Malaysia, the United Kingdom and New Zealand.
Provides electronic consumer-to-consumer money transfer services
from 32 countries through a network of approximately 287,000
locations comprising of send and payout/correspondent agents serving
more than 147 countries
Processes approximately $18 billion in money transfers annually
PRODUCT SOLUTION:.
EURONET’S PRODUCT DRIVE MILLIONS OF SECURE TRANSACTIONS
EVERY DAY PROVIDING SOLUTION FOR A DIVERSE CLIENT LIST AROUND
THE GLOBE.
HERE WE WILL FIND THE SOLUTIONS THAT COMBINE HARDWARE,
SOFTWARE AND SERVICE TO MEET OUR SPECIFIC NEED.
FOR BUSINESS :
1. INDEPENDENT ATM DEPLOYMENT,
2. MONEY TRANSFER SERVICE,
3. OUTSOURCING SERVICE,
4. PREPAID PRODUCT,
5. PAYMENT SERVICE,
6. PAYMENT SOFTWARE.
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RECRUITMENT IN INDIAN ORGANISATION
FOR CONSUMERS :
1. BANKING SERVICE,
2. MONEY TRANSFER SERVICE,
3. PAYMENT SERVICE,
4. PREPAID PRODUCT.
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CHAPTER 3
LITERATURE SURVEY
AT EURONET.
HUMAN RESOURCE MANAGEMENT IS THE MANAGEMENT OF PEOPLE
SKILL, KNOWLEDGE, ABILITIES, TALENT, APTITUDE, CREATIVITY ETC.
FOR THE GROWTH OF ORGANIZATION.
HUMAN RESOURCE DEPARTMENT AT EURONET SERVICE
PVT. LTD.
HUMAN RESOURCE DEPARTMENT
RECRUITMENT AND SELECTION
RESOURCE ALLOCATION TRAINING AND DEVELOPMENT
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FUNCTION OF HRM (Human resource management)
The functions of HRM are as follows:
a) Administration:-
Strategic planning, organizational evaluation, country board
relationship, policy recommendation, supervises the departmental staff.
b) Benefits:-
Health insurance, life insurance, disability insurance retirement
benefit, auction, sick leave, donor program, education incentive, uniform
allowance, and other.
c) Compensation:-
Salary and benefit survey, job evaluation, job description
evaluation , job specification.
d) Employee relations:-
Friendly relations, equal attention, disciplinary process, incident
investigation, complaints/grievance procedure, Labour management
relations.
e) Employee services:-
Enrollment in benefit, employee discount for recreation spots,
resolution of enrollment or claims problems newsletter. Educational
assistance, employee service award.
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RECRUITMENT IN INDIAN ORGANISATION
f) Fiscal:-
Staffing budgets, department budget, account payable, insurance
receivables, insurance food management, and total package costing
insurance receivables.
g) Health and safety:-
Employee assistance, first aids, compensation claims, safety
compliance and training.
h) MIS (management information system)
Keeping records for judging the employees spending time in
organization, performance, growth and their insufficient things.
I) Performance appraisal:-
Employee files, litigation files payroll, safety records and
administration files through MIS.
j) Recruitment:-
Selecting the employee through best resource to best candidates
who are able and sufficient to the organization .
j) Selection:-
After the done identifying of human resources, searching for
prospective employees and increasing the employee knowledge, skill
aptitude etc. for better growth to the organisation.
l)Training and development:-
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RECRUITMENT IN INDIAN ORGANISATION
After selection of employee they should train & developing their
personality skill, knowledge, think aptitude etc.
IMPORTANCE
1) Attract highly qualified & knowledge and complete people.
2) Selecting the right number of people and in right time at right place.
3) Developing personnel system.
4) Matching the employee selection between the cost and benefit.
5) Create more culturally diverse workforce to help the organization.
6) Make good relationship with employee.
7) To solve the conflict between employee manager, employee to
employee, staff etc.
HUMAN RESOURCE DEVELOPMENT
This department concerns after the deal & requirement the present
employee. The department includes several of functions which are as
follows:
1) Orientation/Induction:-
It involves the information or rules of organization which are
passing on through employees.
2) Appraisal and Increment:-
It is the formal increment to the employee about their good
performance and conduct of the work.
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3) Training and Development:-
It is process to the employees to developing their skill. It includes
technical, soft skills and process related to training.
4) Motivation:- It involves motivating the employees through
increment bonus, increasing wages, promotion transfer etc to better
productivity.
5) Role and Responsibility:-
Everyone should fulfill their responsibility at different roles.
6) Key result area (KRA)
It is the measurement quantifiable of out for the roles of responsibilities.
7) Employee separation:-
It includes resignation and dismissal.
8) Joining formalities:-
It takes place when a new employee joins the organization
9) Employee verification:-
It takes place at the time of appointing the new employee.
10) Computerization.
11) Help disk
12) Project trainees.
13) Surveys.
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14) Counseling and grievance handling:-
The both are the different type of council. It helps to solve personal
problems whereas, grievance handling involves the complaints, conflict
that the employee has towards the management.
All the above head are included in the human resource development of
individually. Employee creates high amount of profit for the organization.
Recruitment procedure overview
Manpower requisition form.
Recruitment plan
Sourcing
Selection process
Joining
Training and development.
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RECRUITMENT IN INDIAN ORGANISATION
RECRUITMENT
Recruitment is the process of searching for and obtaining application for
jobs, from among who the right people can be selected.
Recruitment is the process concerned with the identification of sources
from where the personal can be employed and motivating them after
themselves for employment.
It is define as"a process to discover the sources of manpower to meet the
requirement of staffing schedule and to apply effective measure for
attracting the manpower to adequate number to facilitate effective
selection of an effective workforce".
Edwin B flippo defines recruitment as" the process of searching for
prospective employees and stimulating them to apply for the jobs in the
organization".
METHODS OF RECRUITMENT
1. Direct method
2. Indirect method
3. Third party method
1. Direct method
It includes sending of the recruitments to different educational and
professional institutions and contact with the help of employees, and with
the help of must attractable source interest.
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RECRUITMENT IN INDIAN ORGANISATION
One of widely used method is recruited to different college & technical
schools recruiters to convention and seminar, exhibition at fairs, and
using mobile offices to go the desired centers.
2) Indirect method
It includes mainly advertising agencies, and newspapers, on the
website, in trade and professional journal, brochures, advertisement in
newspapers and or trade journals and magazines are the most widely use
methods.
According to the advertisement and strategy in personnel recruitment ,
three main points need to be born in the mind before an advertisement in
inserted first, to visualize the type of applications one is trying to recruit.
Second to write our a list of advantages the company off as, or why
should the reader join the company.
third, to decide where to run the advertisement not only in which area, but
also in which newspapers having a local, state or a nationwide
circulation.
3) Third party.
It includes the various commercial department and private
agencies, state agencies, and placement officers of school colleges and
professional association recruiting firms, consultancy firms, seminars for
college professors and friends and relatives.
Private employment agencies are the most widely used sources.
They charge a small fee from the applicant. The specialized in specific
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RECRUITMENT IN INDIAN ORGANISATION
occupation, general office help, salesman technical workers, accountant
computer staff, engineers and executives.
Professional organization or recruiting firms maintain complete
information records about this firms are looked upon as the "head
hunters" readers, and pirates "by organization which loose there
personnel through their efforts.
EVALUATION OF RECRUITMENT METHOD
The evaluation is as follows:
1) How much in number of candidates required.
2)Number of initial enquires received which resulted in completed
application form.
3)How much candidates are retired in the organisation after six month.
4)How much candidates at various stages of the recruitment process,
specially those shot listed
5)How much candidates are working effeciently towards the organisation.
OBJECTIVE OF RECRUITMENT
The objective of recruitment is involves:
1) To devope and organization culture that attracts competent. People to
the company.
2) To search or head hunt people who's skill fit with company's values.
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RECRUITMENT IN INDIAN ORGANISATION
3) To attract multi dimension skills and experience that suite the present
and future organization strategies.
4) To infuse fresh blood at all level of organization .
5) To select out non-convention development grounds of talent.
6) To induce outsider with new perspective to lead the company.
7) To desire entry pay that competes on quality but not on quantum.
8)To search for talent globally not just within the company.
9)To advise methodology for assessing physiological traits.
10)To anticipate and find people for position that deosnt exist yet.
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RECRUITMENT IN INDIAN ORGANISATION
RECRUITMENT PROCESS
The evaluation of recruitment process are as under:
1) Return rate of application sent cost
2) Number of suitable candidates for selection.
3) Retention and performance of the candidates selection.
4) Comments on image project.
5) Time lapsed data.
6) Cost of recruitment.
E-RECRUITMENT
E-RECRUITMENT IS THE USE OF TECHNOLOGY TO ASSIST THE
RECRUITMENT PROCESS .THEY ADVERTISES JOB VACANCIES
THROUGH WORLDWIDE WEBSITES. AND IT HELPS TO VANISHED THE
INTERMEDIATE.
THEY COLLECT THE RESUME OR BIO DETA ON INTERNET OR ON E-MAIL
ADDRESS. AFTER THE CHOOSING CANDIDATES FORM WHICH HIGHLY
ATTRACTIVE THEY CALL FOR INTERVIEW .AND THEY FINISHED
INTERVIEW IN MORE THAN THREE ROUNDS.
THEY SPECIFY THE JOB THROUGH:
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RECRUITMENT IN INDIAN ORGANISATION
CONTAINS OF JOB SPECIFICATION: IT INCLUDES QUALIFICATION ,
QUALITY, EXPERIENCE.
AND OTHER JOB DESCRIPTION: IT INCLUDES JOB TITLE, DUTY AND
RESPONSIBILITY, WORKING HOURS, SALARY AND WAGES.
ONLINE SIDES OF E-RECRUITMENT:
W.W.W. EURONET WORLDWIDE WIDE .COM
W.W.W. INDIATIMESJOB .COM
W.W.W. NAUKRI .COM
W.W.W. MONSTER .COM
AND OTHER ADVERTISEMENT THEY PREFERRED..
NEWSPAPERS...
AND MAGAZINES LIKE.
BUSINESS WORLD.
BUSINESS TODAY.
CAPITAL MARKET.
INDIA TODAY.
I.T MAGAZINES.
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\\
CHAPTER 4
DATA ANALYSIS
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RECRUITMENT IN INDIAN ORGANISATION
DATA ANALYSIS
1) QUESTION : WHEN ARE THE RESOURCES AND NEED FORECASTED?
ANS : USUALLY RESOURCES ARE NEEDED AND FORECASTED EVERY
MONTH BUT SOMETIMES IT IS UNCERTAIN. SO BECAUSE OF THIS
UNCERTAIN NEED OF RESOURCE WE FORECAST IT AS AND WHEN
NEEDED DEPEND UPON THE SITUATION AND DEMAND.
2) QUESTION : HOW IS THE RESOURCES NEEDS AND FORECASTED?
ANS: BASICALLY THERE IS A CHAIN OF MANAGEMENT IN THE
ORGANIZATION WHICH I CAME ACROSS. SO WHENEVER THERE IS ANY
NEED OF RESOURCES, THEN IT IS INFORMED TO LOWER MANAGEMENT
THROUGH UPPER MANAGEMENT. SO AS AND WHEN THE HR
MANAGEMENT GETS UPDATES ABOUT NEW PROCESS THEY START
LINING UP FOR NEW EMPLOYEES(RESOURCES)
3) QUESTION: HOW DO YOU RATE THE RECRUITMENT PROCEDURES?
ANS: USUALLY THE RECRUITMENT PROCEDURE IS AVERAGE. THIS IS
DUE TO MINIMUM NUMBER OF ROUNDS CONDUCTED DURING THE
RECRUITMENT PROCEDURE; HENCE IT DOES NOT TAKE LONG TIME.
4) QUESTION : WHAT IS THE PROCESS YOU FOLLOW FOR RECRUITMENT
AND SELECTION?
ANS : THERE ARE FEW STEPS FOLLOWED FOR THE RECRUITMENT
PROCESS OF RECRUITMENT AND SELECTION.
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RECRUITMENT IN INDIAN ORGANISATION
JOB ANALYSIS- THIS SHOW THE JOB REQUIREMENT.
SOURCING - HERE JOB VACANCY IS HIGHLIGHTED THROUGH
ADVERTISEMENTS.
SELECTION PROCESS- HERE INTERVIEW IS TAKEN OF SELECTED
CANDIDATES.
JOINING- HERE ALL THE LEGAL FORMALITIES ARE FULFILLED BY
FIRM AND CANDIDATES.
TRAINING AND DEVELOPMENT- HERE AFTER SELECTION JOINING
EMPLOYEES ARE TRAINED AS PER THE PROCESS
5) QUESTION: WHICH METHOD DO YOU MOSTLY PREFERRED FOR
RECRUITMENT AND SELECTION?
RECRUITMENT
DIRECT METHODINDIRECT METHODTHIRD PARTY
ANS : MOSTLY DIRECT METHOD IS FOLLOWED FOR RECRUITMENT ,
WHICH AMOUNT TO 90% OF OUR RECRUITMENT AND SELECTION
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RECRUITMENT IN INDIAN ORGANISATION
METHOD AND REST 5% IS DONE THROUGH INDIRECT METHOD AND
REST IS PREFERRED FOR THIRD PARTY REFERENCES.
6) QUESTION : WHAT SOURCE YOU PREFER FOR RECRUITMENT AND
SELECTION?
SOURCES OF RECRUITMENT
EXTERNAL RECRUITMENTINTERNAL RECRUITMENT
Ans: in this firm both internal and external sources are used for
recruitment and selection .50% recruitment is done through internal
sources , rest 50% of recruitment is done by external sources.
7) Question: what are the sources of internal sourcing ?
Chart
Ans: basically this company gives first preference to its present
permanent employee which amount to 80% of internal sourcing and rest
20% is done through temporary employees.
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RECRUITMENT IN INDIAN ORGANISATION
Internal sourcing
PRESENT PERMANENTTEMPORARY
8) Question: what are the sources for external recruitment?
Ans: the only and most preferred external sources for recruitment are
done through placement agencies.
9) Question: how many rounds of interviews are conducted?
Ans: usually 3 rounds are done in interviews and they are as follows:
1. Introductory round
2. Technical skill round
3. Aptitude test.
10) Question: are you satisfied with round of interview conducted?
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RECRUITMENT IN INDIAN ORGANISATION
Ans: yes, because in 3 rounds a candidates is justified for his all skill
and eligibility.
11) Question: what form of interview did you prefer?
Ans: personal interviewed is preferred as it is one of the finest methods
to judge candidates. As personally a candidate can provide more
information rather than other forms.
12) Question: are you satisfied with the present method being followed
by the company for recruitment and selection?
Ans: yes, as the method followed for recruitment is quite relevant and
reliable.
13) Question: how do you rate the hr practices of the company?
Ans : The HR practices followed is quiet good.
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RECRUITMENT IN INDIAN ORGANISATION
FINDINGS:IN EURONET SERVICE PRIVATE LIMITED. MOST OF THE
EMPLOYEES FEEL THAT’S THE HUMAN RESOURCE DEPARTMENT IS
GOOD. USUALLY RESOURCES ARE NEEDED AND FORECASTED EVERY
MONTH BUT SOMETIMES IT IS UNCERTAIN. THEY PREFERRED PERSONAL
INTERVIEWS AS IT IS ONE OF THE FINEST METHOD TO JUDGE A
CANDIDATES. THEY MOSTLY FOLLOWED DIRECT METHODS WHICH
AMOUNTS 90% AND OTHER OUT OF 10%, 5%IS FOR INDIRECT AND 5%
FOR THIRD PARTY.
IN THIS FIRM BOTH INTERNAL AND EXTERNAL SOURCES ARE USED FOR
RECRUITMENT AND SELECTION. 50% IS DONE THROUGH BY THE
INTERNAL SOURCES AND REST OF THE 50% IS FOR EXTERNAL SOURCES.
THEY MOSTLY PREFERRED EXTERNAL SOURCES FOR RECRUITMENT IS
DONE THROUGH PLACEMENT AGENCIES.
THE HR MANAGER TAKE THREE ROUNDS OF INTERVIEW USUALLY AND
THEY ARE JUSTIFIED THEIR CANDIDATES SKILL AND ELIGIBILITY IN 3
ROUNDS. AND AS PER THAT THE HR PRACTICES FOLLOWED IS QUITE
GOOD.
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RECRUITMENT IN INDIAN ORGANISATION
CONCLUSION:THIS PRESENT THE SUMMARY OF THE STUDY AND SURVEY IN RELATION
TO THE “RECRUITMENT IN INDIAN ORGANIZATION” IN EURONET
SERVICE PVT LTD.
THE CONCLUSION IS DRAWN FROM THE STUDY AND SURVEY OF THE
REGARDING THE COMPANY RECRUITMENT PROCEDURE CARRIED OUT
THERE.
THE RECRUITMENT PROCEDURE AT EURONET SERVICE PVT LTD.SOME
EXTENT IS GOOD AND SATISFACTORY, BUT THEY HAVE TO IMPROMIZE
THIS RECRUITMENT PROCESS AND MODIFIED BECAUSE OF FRESH BLOOD
, ENTER INTO WITH NEW IDEAS AND OBJECTIVES.THEY ARE COME
WITH MORE EXPECTATION MOTIVES. SO THAT IT NEED TO KNOW WITH
SEARCH OR HEADHUNT OF PEOPLE SHOULD BE THOSE SKILL FITS INTO
THE COMPANYS VALUE.
THE SELECTION PROCESS IS GOOD BUT THEY NEED TO BE MODIFIED
REGARDING THE REQUIRMENT AND ALSO JOB PROFILE SO THAT PROPER
SELECTION PROCESS CAN BE ACHIEVE WITH PROPER CANDIDATES.
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RECRUITMENT IN INDIAN ORGANISATION
SUGGESTION: MANPOWER REQUIREMENT FOR EACH DEPARTMENT IN THE
COMPANY IS IDENTIFIED WELL IN ADVANCE.
IF THE MANAGER REQUIREMENT IS HIGH AND THE RECRUITMENT
TEAM OF THE HR DEPARTMENT ALONE CANNOT SATISFY IT, THEN
THEY NEED A PLACEMENT AGENCIES.
TIME MANAGEMENT IS VERY IMPORTANT AND IT SHOULD NOT BE
IGNORE AT ANY LEVEL OF PROCESS AND DEPARTMENT.
THE RECRUITMENT PROCEDURE THROUGH PLACEMENT AGENCIES
AS THE LAST RESORT AND IT USED ONLY REQUIRED IS HIGH.
THE RECRUITMENT PROCEDURE IS SHOULD NOT TIME
CONSUMING.
THE CANDIDATES CALLED FOR INTERVIEW SHOULD BE
ALLOCATED TIMING AND IT SHOULD NOT OVERLAP WITH EACH
OTHER IF IS DONE SO IT HARM FULL FOR THE COMPANY
GOODWILL THROUGH CANDIDATES OBSERVATION.
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BIBLIOGRAPHY:
REFERENCES:
HUMAN RESOURCE MANAGEMENT ( RISHABH ) SUNNY
FERNANDEZ EDITION (2014) (FIFTH).
HRM- VIPUL (NG KALE AND M. AHMAD) (FIFTH EDITION)
HRM (2005), DR.P.C PARDESHI
HRM BOOK OF HIMALAYA PUBLICATION.
W.W.W. EURONET WORLDWIDE.COM
W.W.W. GOOGLE. COM.