Recruitment And Selection Plays A Vital Role In Every Industry
Recruitment and Selection plays a vital role in every industry. Recruitment is also the process of locating and attracting the applicants which are capable for the vacancy. Recruitment and selection both are very closely linked. Both of the activities directs towards achieving the appropriate candidate with the requisite competencies and attitudes. The recruitment can also be understood as the foundation for the selection process by providing the number of applicants from which the selection panel and select the suitable candidates. So it is the source of manpower to meet the requirements which are needed in the staffing (Flippo, 2000). There are basically two types of recruitment, internal and external. Internal recruitment can be understood as they where the suitable candidate is chosen amongst the employees within the organization; however external recruitment is where the suitable candidate with the required competencies and attitudes are chosen externally. In simple words the outsiders are invited to fill the current vacancy. The aims of recruitment are:
To get a pool of candidates with appropriate competencies for the vacant posts
To choose the candidate with the fair process
To make sure that all the recruitment activities are achieved as per lines to the organizational goals
The recruitment process is conducted in a cost effective manner
The term selection can be the best understood as the process to fill the vacancy either internally or externally. . It is to make a choice among all the applicants and to choose the best for the organization (Banfield, P.&Kay,R, 2008). The major goal of selection is to choose the best person for the job. Selection matches the candidates as per the job requirements to understand that how well the candidate will perform to the requirements of the offered position as they do not want that the candidate to leave the organization in a short span of time. As the recruitment and selection process costs to the company hence the selectors want the best candidate. Basically the objectives of the selection are as follows:
To collect the relevant information.
Organize and study the information collected.
Evaluate each candidate.
Hence, it could be better understood as the important aspects in the organisation. The organisation does the recruitment and selection to achieve the organizational goals. The inappropriate selection can result in the loss to the organisation. There are various ways of doing the recruitment, like advertisement, head hunters and some do the recruitment fairs. Hence the recruitment and selection process differs from the sector to sector.
In current scenario, the company invests the considerable amount of money to recruit and select the best suitable person for the organization so that the person could be an asset for the organisation. The long process starts from, Identifying requirements, screening, process design and the process end by offering the appointment letter. After this the training is provide to the candidate. The training also cost a considerable amount of money on the candidate. The following stages are used in the recruitment process. Refer Fig <>.
Identify vacancy
Prepare job description and specifications
Advertising the vacancy
Managing the response
Short listing
Arrange interviews
Conduct interviews and decision making
India is recognized as the emerging economies worldwide. India has a large population and it has got a vast land size. The land size has a diverse culture and extreme diversities in income level which vary state to state. The country has a high level of illiteracy rate among the large population, however, the country still got a huge reservoir of managers and technological advanced talent. Between 30%-35% of population resides in metros and urban cities and rest in urban, semi urban and rural centres. The country’s economic policy framework reflects features such as structure, size and diversity of the banking and the financial sector.
There are basically two types of sectors operated in India, Private sector and the Public sector. In the private sector there are three main types of organization, which are Sole traders, Partnership and the franchises. The public companies are those companies which are owned by the government. These companies are well known in national and as well as the international companies.
Recruitment Process
Fig <>, Different Stages for Recruitment process
The country need to have a sound and effective banking system so that the country could have a healthy economy. The banking system of any country should be smooth and should be ready to face of the challenges which could be incurred by the technological or the other external or internal forces.
The major name in the Indian banking industry is State Bank of India. This bank originates in the first decades of the 19 century. Later, it got merged with the imperial bank of India. Further the government of India nationalized the Imperial bank along with the reserve bank of India and the name was changed to State bank of India. It is one of the India’s largest commercial banks. The government controls maintains a stake of 60% in State bank of India. The bank has 13,500 branch offices throughout India, staffed by nearly 220,000 employees (Source: www.sbi.co.in). State Bank of India is also present worldwide. Not only is this but the important point to notice here that, because of the effective management the SBI has to manage to make an international presence as well. That’s the only reason that they have office in almost 12 other countries around the world apart from India such as the ones listed below (Source: www.sbi.co.in)
Bahrain
China
Japan
Mauritius
United States of America
Indonesia
United Kingdom
Nepal
Singapore
SBI Canada
SBI California
South Africa
Aim of the Project
The main aim of this research would be to target on the importance of recruitment and selection in one of the leading public and private sector banks in India, State bank of India and I. C. I.C.I and how does it differ from a private limited bank.
Secondly, would try to find out, how the recruitment and selection process affects the applicants and their views, with the help of a questionnaire.
Objectives of the project
To identify the general practices used by both the public limited bank, State bank of India.
To identify the general practices used by both the private limited bank, I. C. I. C. I.
To make a broader understanding as how the recruitment and the selection process affects the State bank of India and I. C. I. C. I banks.
How the recruitment and selection in State bank of India differs from a private limited bank.
To determine as which practice is the best form the comparison study.
To find out the recruitment policy of ICICI Bank
Importance of the Project Study
The study that I have done is quite significant in one sense; it’s to highlight the practical application that the HR Managers need to deal with their HR policies relations and responsibilities. The study is to provide a flavour the recruitment and selection process is carried out in these banks.
Reason for the Project
The reasons for the project are quite clear, having a look the tremendous history of the bank. Its quite evident that any passerby would like to have a look, what is that has made the bank to become of the biggest in the country and a worldwide presence too. That is the reason that these project and research studies have been designed. The main reason for the project is to understand the business areas of these two major Indian public and private banks and understand their way of business and then primarily understand the HR plans and their working cultures. Because India being such a diverse nation and to put across any business lines or strategies it needs to be really sound and the people who are behind the planning and the implementation of these strategies need to be having the exact idea and the way the people are going to respond the idea of the bank. All this is done with a clear picture of the banks goals and objectives. So these are the main areas that are basically tired to be analysed. The other important area to be analysed for this project is the customers and the bank relationships too.
Scope of the Project
The scope of this project is to understand the working and the recruitment and selection of the employees. The following points
Extent of the Research
Inclusions On the research
Exclusion of the research
Limitations to the research
Literature Review
As mentioned earlier, the term recruitment can be determined as the process of identifying the pool of appropriate candidates which is suitable for the job vacancy outside the organization or within the organization is a cost effective manner. However selection can be best understood as the process where the best person is chosen from a pool of desired candidates. The recruitment and the selection are the core areas of the human resource management. Hence, it makes the company to choose the appropriate person for the organization which helps in achieving the goals and performance of the organization. In simple words the recruitment selection chooses the best person for the organization. The recruitment and selection process focuses on the candidate which fulfils all the requirements of the vacancy and also trains them for the desired post. The employees are recruited on the basis of many things, good communication skills, flexibility and openness of the person etc. The recruiters select the candidate on the basis of many qualities for the good performance and also on the qualities which they notice while interviewing the person (Hay, 2006).
The largest country in South Asia is India. It has a huge financial system with varied financial institution. Indian banking sector was well developed prior to its Independence (1947).” There was a significant presence of both foreign and domestic banks and well developed stock market.” (Bery, 1996). In India there are 26 public sector bank, 22 private sector bank, 56 Urban and cooperative bank and 29 foreign banks in India (Indian banking Association). In India the top banks among all the banks is the Reserve bank of India. The Reserve bank of India supervises the banking functions of the other banks (Source: www.sbi.co.in).
State bank of India is the largest financial service provider company. It provides a range of banking products. It has got 16,000 branches and India and has the highest branch in India. The company had a profit of Rs.10, 998 crores ($24.18 billion) (Source: www.sbi.co.in).
Recruitment and selection plays a major role in any of the banking or financial sector. The people are the main force on which the economy depends. If the HR people take a wrong decision in selecting a candidate to work the company can die. The majority of the companies use the same pattern of recruiting and selecting the employees which are as follows:
Job analysis profile of knowledge, skill, competencies, ability and the temperament suggest decision made on recruitment and selection.
Identification of the need for the new employee through the re organization or by the replacement of the employee.
Select the employee internally.
Format the application and the process foe examining the criteria determined.
Job vacancy and the other publicity material are put into the public domain.
An application arrives
Experimental procedures
Research Methodology
In my research I will be using the qualitative and the quantitative methods but will focus majorly on the qualitative method. The reason is that the qualitative data is quite descriptive and I will be able to express the results and also the feedback from the employees in a descriptive manner. The main aim of the study will be the recruitment and selection in State bank of India. The reason of retention in the companies, as the research requires more of interviews, which can be telephonic or face to face makes the report more descriptive. The questionnaire will be distributed in both the public and the private bank and the analysis will be done as which practice is the best.
The project will be done in two stages.
Primary research
Secondary research
Primary research
Primary research involves the collection and also the raw data which is collected through surveys and interviews will be analysis. The result will be discussed and evaluated.
The primary sources which I will be using to collect the data are-
Collecting the data from common using questionnaires.
Interviewing the employee and the HR managers of the multinational organization.
Secondary research
This research includes the study based upon the reading of the books and the journals which are referred in the library. The reading will involve the reading which is written by the different scholars on the same issue. All the arguments from the different scholars will be deeply analysis will be conducted. The conclusion will be drawn and then evaluated with the date and the finding collected by me. The basic understanding can be achieved by the review of the different books.
The secondary sources which I will use to collect the data are-
The digital library
B.C.U library
Human resource management articles and journals
Business magazines
Reports
News paper articles
Data Processing
The graphs and the pie charts will be used to show the data collected from the questionnaires. The result be descriptive and will be achieved by the questionnaires and the personal contact with the Human resource management people and the employees of both the public and the private limited company.
Concept of the Project
The project is basically broken down into three broad areas
Basic Recruit process and their importance’s
Recruit and selection process of State Bank of India
Recruitment and selection process of I. C. I. C. I
A brief qualitative study is done on the three highlighted areas of the project, the main area of research is to analyse how the recruitment process of the bank are in line with the ones commonly followed by the general companies and the ones that are specifically developed by the bank keep in view their requirements etc.
Methodology
The following methodology is followed in this project in order to achieve the aim objectives. The following flow chart gets the information regarding the flow of the project and the way in which the result is and the analysis is carried out. Refer Fig <>.
Recruit and Selection Process in Banks
Recruit and Selection Process in Banks
Recruit and Selection Process in Banks
Recruit and Selection Process in Banks
Recruitment Process
Definition & Understanding of Recruitment
Recruitment means is the process of estimation of the available vaccines and to make the required arrangements for their selection and appointment. Recruitment can also be defined as the process for obtaining people for a certain job, and from the pool the right people can be selected.
The formal definition of the recruitment process is “It’s the process of attracting and finding among them capable and suitable candidates for possible employment”. The whole process starts when the new recruits are sought, and their applications are submitted to go to the next level of the process. This first process results in a pool of applicants for whom the potential new employees can be selected. The process with a wide range of publicity through different sources and the interested candidates are encouraged to submit applications for further processing and the following interviews. The most important thing to remember is to say that recruitment is the first step of contact that a company makes with its potential future employees.
“Recruitment is the process of searching for prospective employees and stimulating them to apply for jobs in the organisation” – Edwin Flippo
Need for Recruitment
The recruitment can be as a result form the following reasons that may arise in any of the companies or organisations
The vacancies that are as result of internal departmental promotions, Employee transfers, Retirement of employees, Termination or Resignation of Employees, Permanent Disability of Employees and Death of Employees
Requirement of new jobs due to expansion of the organization or diversification of business activities.
Requirements that may arise due to increase in business resulting from the unexpected or massive success of a specific product or service of the company
Refer fig <>.
Fig <>, Reasons for Recruitment
Importance of Recruitment
The main purposes of the requirement are listed down of the many advantages of the requirement process a few are listed below. Refer Fig < >.
To determine the present and the future requirements of any business in line with the HR planning
To increase the capable resources for the business with a minimum impact on the budget for recruitment
To increase the success and the efficiency of the selection process. This can be achieved by the reduction of under qualified and over qualified candidates
To minimize the probability of candidates who may leave the organization after a short time. Because the recruitment process involves money and time.
To help the company or the organization to meet the legal rules and regulations of the country
Evaluate and increase the efficiency of the recruitment process and enhance the process and find out flaws from time to time in order to maintain the company standard.
Fig <>, Functions of Requirement
Effects of Improper and Unplanned Requirement Process
The recruit process can be considered the deciding factor that plays a very important role in the company’s search for the best talent available in the market in the form of the employees who are going to take the company to meets its goal and objectives but if the process is not carried in a planned fashion then it may result in catastrophic damage for the company’s future operations. The following are a few effects that the company may face due to the poor recruitment techniques.
Low productivity of the Employees
Low or very little turnover of the company due to incompetency of the employees
Excessive wastage of the resources due to lack of the best in class knowledge of the tools
More accidents that may result at the work place creating a loss to the company
Inefficient use of the tools and the company’s processes
Process of Recruitment
The process of recruit is attracting the able candidates to fill the vacancy and become employees of the organisation. The process of recruitment has a few procedures that need to be followed at all times in order to successful completion of the recruitment process
The recruitment process can be considered to be completed in the following five stages
Planning the recruitment process
Developing a strategy for the process
Searching for the right candidate
Screening the candidates
Evaluation and control of the process
The best recruitment process is the one that attracts a large number of applicants, who can survive all the above mentioned process. If not properly planned and executed may result in the loss of potential candidates. In order to avoid this the HR department needs to have clear idea of what is the job profile that is required and the type of assessment that are to be carried out in order to have the perfect applicant to be chosen. Refer Fig < >.
Fig <>, Stages of Recruitment Process
Phase – 1
Planning Recruitment Process
This is the first stage of the recruitment process, proper planning and process would help the company to select skilful and good potential employees from the pool of candidates. The main goal of the planning stage is the translation of the available job vacancies and the job description into an understandable format for the candidates to apply. The places where the walk-in interviews need to be taken and the people who are going to assists for the technical and the administration departments also need to made well in advance so that the potential loss of a expected candidate can be avoided. The main targets include. Refer Fig <>.
The number of vacancies available in each of the specific category
The type of applicants the company is interested
The job descriptions and roles involved in the jab category
Planning of the whole recruiting process from the venue to the people who are going to support the whole process.
Fig <>, Recruitment Planning Process in an Organisation
Phase – 2
Developing a strategy for the process
When the planning phase is successfully completed with de acceptance, form the head of the department s of the different departments. The next and the important phase of the process is to build a strategy for how the whole process is going to work and what is to be done the event of a unplanned scenario etc, who are the key and the responsible people for the whole event and any other related information tot assists the HR people to make decisions. The main important points to develop a strategy for the recruitment process are listed below. Refer Fig < >.
Create the New Employees or Buy the New Employees *
The technological tools that are required for the recruitment process
Study of the Geographical distribution of the skill markets (Labour Markets)
Study of Sources of Recruitment
Sequencing the activities in the recruitment process
Fig < >, Developing the Strategy for Recruitment
*A” Creating” new employee is the process of hiring new applicant’s forms from the pool of skill that is a result of the advertisement and publicity. These after a proper and strategic assessment will be used for the selection of the candidate. On the other hand the “Buying” means hiring form a third party manpower suppliers a or taking people on a contract for a specific period of time. This type of recruitment is basically when you want people to work on a very specific and a limited basis.
Phase – 3
Searching for the right candidate
The third phase in the process after the successful implantation of the other two is where and how to search for the perfect candidates and the perfect skills you are looking for. Studies have suggested that there are two basic ways of searching for the right candidate with the right skill set etc. This is taken in a step by step process with each other working back to back. Refer Fig < >.
Step – 1: Resource Activation request declaration form the middle management
Step -2: Selling
Step – 1: Resource Request
Typically in an organisation the recruitment process starts with a vacancy that has aroused in any of the departments such as the technical or non-technical or any of the administration departments. Once there is a vacancy or a n extra resource is required for the job then the middle manger’s have need to pass it over to the top management or the bosses for a resource in the weekly or the bi-weekly meeting , then that is further cascaded to the HR to search for the suitable candidate. Firstly they have study in various aspects of the requirement, such as the Budget etc and try to see and internal was of filling the post and if they have no one to fill in then they starts using all the above mentioned ways to fill in the post.
Step – 2: Selling
This is the second step is the immediate reaction the company is going to undergo once when they find a vacancy due for a filling, then they may use the advertising agencies in order to attract the right candidates and for further assessment before they can be hired
Fig <>, Steps in searching phase of Recruitment
Phase – 4
Screening the candidates
Screening is the most important of all the four in the sense that it differentiates or filter the good candidates from the bad or the ones that company would like not to hire. The recruitment process starts from the screening phase. All the scrutinised in this phase of the recruitment process, the following points are worth consideration to understand the process in more detail.
Purpose of the screening process
The main purpose of the screening process is for sough ting out the unfavourable conditions or the candidates who are not up to the mark and the standards at a early stage of the recruitment process.
In the screening process there are no clear job specifications that are required for the candidate to have for the job. But as a good experience and good practice the candidates qualifications are judged on the basis of their skills, knowledge of the subject, attitude and important of all the interest to do the job. Refer Fig < >.
Fig < >, Screening process for Recruitment
The screening process vary for the different for kind of jobs that are required for filling and every job will need to be handle in a different way depending on the criticality of the job and the type of skills that are required for
Example:
There are some specific jobs such a s hiring a Professor for a educational Institution such as a university is a kind of typical situation. The applications that are received as a response to the publicity and the advertisements are screened and only the eligible candidates are called fro a personal interview. Then the interview is taken y a selection committee which may comprise of the important people of the university such as the Vice Chancellor, Registrar and the Subject Experts who can conduct the interviews. So even there are some certain ways to follow for the general situation for the screening process there may be certain situations there may be some enhancement to be made to the existing system or special type of committees can be brought in to do the job screening the candidate for the job.
Phase – 5
Evaluation and control of the process
The evaluation and control is necessary and termed as the important step in the recruitment process. Because of the recruitment process there are costs incurred by the company so there needs to some kind of control over the money that is going into the recruit process with the budget that has been selected by the company. The following are the ways in which there can be money to be spent by the company.
Salaries and perks for the people involved in the recruitment process
The time of the management and the professional people spent on the preparation of the job vacancy numbers, Job descriptions, Advertisements, Agency Liaison, so on and so forth.
The important and major way of spending on the recruitment is the advertisement and the contracts with the third party agents.
Overheads and unplanned events that are a result of recruitment process and the administrative expenses.
The extra cost that is resulting from the overtime and the outsourcing while the vacancies remain unfilled for a long time or there are very limited resources on a specific skill set.
The cost that the company needs to bare due to the selection of unsuitable or candidates not fitting the bill for the job are selected.
The above mentioned five phases of the recruitment process are the very common ones that are used for the recruitment by the organisation. But as it mentioned earlier as well that there may be other ways in which the recruitment process can be taken. So this implies to say that the recruitment process is a critical process and needs a lot of planning and in depth knowledge to pick the best candidates who have the desired qualities professionally and personally. The more the people who fit the job are picked the company will have a sure success then by selecting unsuitable people.
Sources of Recruitment
The other important area of the recruitment process is the sources of recruitment. The following the common ways in which the organisations generally source for the recruitment process in their companies. Refer Fig < >.
The flow chart gives the information regarding the major of sourcing that can be used in the recruitment process. In order to have a diverse work force and good work culture its always better to have a new recruitment in order to have a new ideas to come in the process which may help the organisation in many ways. Because by the internal referral schemes it may be for a certain and a certain number of vacancies but if this type of sourcing is followed then it may have a certain disadvantages as well. Because this would have an impact on the company’s future as well, if not corrected and acted in time.
The sources of recruitment are broadly classified in two main categories
Internal Sources of Recruitment
External Source of Recruitment
Internal Source of Recruitment
Promotions and Transfers
This is a very effective measure for the filling of certain type of vacancies depending on the personal records and the achievements of an employee. The personal records may include educational qualifications and the skill level incurred in the process of acquiring experience. Promotions are a best way to build up good relations between the organisation and the employee. This is way to build the morale of the employee apart from the encouraging the component individuals who are self motivated to make them more recognisable for a promotion. So, this is a good way to enhance the performance for the employees. On the other hand the transfers are other way to make the employees view the organisation on a broad spectrum. This may even be helpful to find employees for the future promotions.
Employee Internal Referrals
Employees can help their pals and family by acquainting them with the advantages of the company and the vacancy that are available in the company. The major advantage of this type of source is that the employees may only bring those referrals those they feel will fit the bill. This also gets the feeling of ownership for the employees.
Former Employees
This type includes the employees who are retired by but still can work on limited time basis such as Part time and also other employees who have left the company in the past but would return for better prospects or higher compensations. There are a lot of advantages in this type because these employees have a lot of information and good understanding of the processes of the company. This would further minimise the time in a sense there is no need for induction etc. This in turn saves time and money to the company.
Recalling Earlier Employees
This type can be used to recall certain employees who have left the company or made redundant in the past, because of recession or lack of business or order to continue the work. This is too a better way which as the former saves time and money that can be incurred in the process of training and induction of the employee.
External Recruitment
This is similar to the internal sources of recruitment with the only difference been it is done outside the company. There is more of these when compared to the internal sources. They are more professional and also have a very good way of selecting the people with good skills from the pool of people. These include
Campus recruits, Advertisements, Third party recruiting agencies, Employment Exchange
Fig < >, Sources of Recruitment in an Organisation
Evaluation ad Assessment of the External Sources of Recruitment
As every other process there are advantages and a few of the disadvantages that are associated with any of the processes or the products that are in use in our day to day life the only reason which makes us use these services or the products is when the advantages out beat the disadvantages. The following are the advantages and the disadvantages of the external sources of recruitment.
The advantages
The company may get new skills, new relents and new experiences associated with the new people hired form the external sources of recruitment.
The scope of the resentment, heart burn and jealously etc feelings can be avoided in the recruitment process
The management has a chance to reserve a place for any specific area in the community or any if the physically challenged people
The Disadvantages
The organizations chance to motivate, retain and promote its own employees is lost because of the external recruitment process
This is a bit expensive process because it involves hiring external companies
Because it’s a planned event involving many people right from the HR to the technical people, the slightest mistake or flaw in the process may increase the chances of the right candidate to be rejected and the wrong candidate to be selected.
All the external recruitment may need a high degree of training and induction for them to understand the process and the internal working of the company.
A structured Guide for the selection and Hiring of the Right persons for the Job or Vacancy
Define the duties
To find the right candidate for the job of the vacancy, the company should be quite clear on what is wants the new recruit to do. The company needs to carefully consider the direct and the indirect responsibilities associated with the job description.
What it takes to do
Fulfilling any job needs a certain skill and experience, even for the entry level job. The company need to be quite reasonable when its sets the job description for any job.
Make it worth while
The company needs to be generous while fixing the compensations for any job that they want to recruit for.
Spreading the word
The company needs to take due care on how to advertize. Because the type of advertisement will directly imply the type of people are going to be attracted by it. So, the company needs to take quite a care in this for searching the right person for the job.
Talk it over
Having clearly mentioned it in the job description and the job responsibilities, when the applications are received then it’s the responsibility of the company to clearly scrutinize the same.
Interview Follow ups
The company should believe that the candidates are being true but assuming the same is dangerous. After the company makes a choice of the candidate then it should take the education and professional checks to ensure the candidates honesty etc.
Now you have them and now keep them
Now that the company has found out what they are looking after the now it’s time to make sure that they stay by providing them the necessary training and development programs to the selected candidates.
The Selection Process
Definition of the selection process
The process of selection is defined as the “differentiating factor between the candidates who have greater chance of success in the job”.
The difference between recruitment and selection is that
Recruitment is the process in which a large pool of people with a specific skill set or experiences are attracted to apply for a job. But on the other hand selection as it suggests is the process of selecting the appropriate candidate from the poll of candidates.
The process of selection
The process of selection involves a series of stages of assessment and scrutiny. So that the candidates pass on to the next level of the recruiting process till they have cleared all the stages where a final offer can be made to the potential candidates who have satisfied the HR and the Interview panel.
A typical selection process may contain the following stages as mentioned below
Preliminary Interview assessment of the applicant
General Ability Assessment of the applicant
Personal Interview Assessment
Back Ground or Reference Check of the Applicant
Result of the Assessment of the Applicant
Physical Examination of the Applicant
Final Offer for the Job to the Applicant
Employment Contract with the Company
End of the Selection Process
Evaluation of the Selection Process
Types of Selection Processes
After the results of the assessments of the candidates is prepared. The final decision of making a job offer to the potential candidate in done in any one of the following ways as listed below
Ethno-centric Selection Process
Region-centric Selection Process
Poly-centric Selection Process
Geo-centric Selection Process
Factors Hampering Effective Selection process
Even though due care is taking in the planning and the strategy levels of all the possible processes, there might be some things that can ruin the whole outcome of the process. In the same way even selection process can also loose its charm when the following mentioned factors creep in the process of selection process. They are a follows.
Perception of the Selection process
Fairness in the Selection process
Validity in the Selection process
Reliability of the Selection process
Recruitment and Selection Process in State Bank of India
Company Profile
Management
Board of Directors (Source: www.sbi.co.in)
Shri O.P. Bhatt Chairman
Shri S.K. Bhattacharyya, MD & CC&RO
Shri R. Sridharan, MD & GE (A&S)
Dr. Ashok Jhunjhunwala
Shri Dileep C. Choksi
Shri S. Venkatachalam
Shri D. Sundaram
Dr. Deva Nand Balodhi
Prof. Mohd. Salahuddin Ansari
Dr. (Mrs.) Vasantha Bharucha
Dr. Rajiv Kumar
Awards and Laurels
For 2009
State bank of India has been awarded the “Best Bank of 2009” by the Business India for the month of August 2009 (Source: www.sbi.co.in)
State Bank of India was ranked the No. 1 in the 4Ps B&M&ICMR survey on the India’s Best Marketed Banks in the month of August 2009 (Source: www.sbi.co.in)
“Shri Om Prakash Bhatt has declared as one of the “25 most valuable Indians” by the Week Magazine for the year 2009 published in the month of August (Source: www.sbi.co.in)
Recruit and Selection process
Recruit and Selection Process in I.C.I.C.I Bank Limited
Company Profile
ICICI banks is the India’s second largest bank with a total assets of Rs. 3, 634 billion (US$ 81 billion) as on March 31, 2010 and the profit after tax Rs. 40.25 billion (US$ 896 million) . the bank has a total network of 2,o35 branches and about 5,518 ATM’s in India. It has a global presence in about 18 countries. It offers a wide range of banking products. The bank currently has subsidiaries in the following countries
United Kingdom
Russia
Canada
United States
Singapore
Hong Kong
Bahrain
Sri Lanka
Qatar
Dubai
China
South Africa
Bangladesh
Thailand
Malaysia and
Indonesia
The bank’s equity shares are listed in India on the Bombay Stock Exchange and the National Stock Exchange of India Limited and it’s American Depository Receipts (ADR’s) and is also listed on the New York Stock Exchange (NYSE).
Corporate Profile
ICICI Bank is India’s second largest bank with a total assets of Rs 3, 562.38 billion (US$ 77 billion) as on December 31, 2009
Management
Board of Directors
Mr. K. V. Kamath, Chairman
Mr. Sridar Iyengar
Mr. Homi R. Khusrokhan
Dr. Anup K. Pujari
Mr. M. S. Ramachandran
Dr. Tushaar Shah
Mr. M. K. Sharma
Mr. V. Sridar
Mr. V. Prem Watsa
Ms. Chanda D. Kochhar (Managing Director & CEO)
Mr. N. S. Kannan (Executive Director & CFO)
Mr. K. Ram Kumar (Executive Director)
Mr. Rajiv Sabharwal (Executive Director)
Awards and Laurels
For 2010
The following are among the many awards that the bank
ICICI bank was voted as the Most Trusted Brand among private sector bank in 2010 Economic Times – Brand Equity Most Trusted Brands Awards and Ranked 7th in the list of Top 50 service brands.
ICICI bank received the 2010 World Finance UK award for
Excellence in remittance Business, Worldwide
Excellence in NRI Services, Worldwide
Excellence in Private Banking Business, APAC region
Forbes’ 2000 most powerful listed companies’ survey ranked ICICI bank 4th among the Indian Companies and 282nd globally.
ICICI Bank was awarded “The Asian Banker Achievement Award” 2009 for Cash Management in India.
Recruit and Selection Process
The structure of the HR team for hiring
The recruitment process can be sourced totally internally or totally externally or partly internally and partly externally. The outsourcing can be for some specific jobs or some specific requirements. The use of external sourcing agencies can be due the reason that they may provide a quicker and cheaper result when compared to the company’s internal process itself.
Human Resource Management Information Systems (HRMIS) in the Recruitment and Selection process
The use of these types of technological systems helps in the faster quicker and a cheap perfect type of recruit and selection process. The advantages of this type of Management information systems is as follows
The ease of recording the requirements of the jobs from online job descriptions and the personal specifications.
The ease to record the past advertisements, than can be modified and used for the current vacancy.
Information regarding the job such as the job package, standard letters and the application process etc.
Using the system the advisor can be given information such as the receipt of the application etc.
Information regarding the details of the candidate’s selection process and the invitation to the interview etc.
Maintaining the database of the selection process
Maintaining separate database for the successful applicants and those for the unsuccessful ones, for all the future references.
Selection process at ICICI Bank
The selection process at ICICI bank is done in a stage wise process, consisting of a number of stages. The candidates fulfilling successful completion of all the stages will be offered a job form the bank. The stages that are in the ICICI Bank are listed below
Online Screening and Short listing the successful candidates
Technical tests for the applicants clearing the first stage
Personal Interviews Assessment
Psychometric Evaluation
Ability and Aptitude Evaluation
Personality Profile Evaluation
Online Screening Tests
This is totally dependent on the applicant’s educational qualifications, Experience and Skill set. The online system filters the candidates from the ones satisfying the requirement for the one s not satisfying. This is a very sophisticated and accurate tool compared to the earlier manual sorting. The key to the application are not missed is by the proper filling of the application forms. The online selection facility gives the freedom and ease of filtering a massive number of applications in a very little amount of time compared to any other system. This also takes care of the cost impact as the number of people required to do the job manually will be more and would in turn require a double check to validate their work.
Technical Evaluation
The most important and very commonly used evaluation in the banking industry is the logical judgement this gives the accuracy and the presence of mind of the applicant.
Personal Interviews
No matter what type and sought of job it may be, there might and will be an interview at some point of the selection process. There will be interview panel for conducting the personal interview round for the candidates who have cleared the other rounds. In the interview the interviewer would ask the candidate a certain set of question in order to test various aspects of the job requirement skills. Not only the candidate but the peoples who are taking the interviews are also trained properly, this involves the way the interview needs to be taken and the question that are to asked to the applicant and the ones that should not be asked are also been trained to the interviewing person.
Psychometric Evaluation of the applicant
The quality and the attributes of the applicant are best tested using a psychometric evaluation. The main purpose of these testing is to analyse the mental state of the applicant and the extent to which he or she fits the job. This evaluation can be carried out only by qualified trained professionals. The point to stress in here is the feedback that is to be given to the candidates on their performance in the test. The aspects and the areas that are test in these tests are as follows
Decision making ability
Ability and the Aptitude Evaluation of the Candidate
As the name suggests the ability evaluation is done to have a picture of the candidate’s strengths and weakness. These involve the following common tests
General Knowledge and IQ (Intelligence) Tests
English Vocabulary Test
General Numerical ability etc
Personality Profile Evaluation
Personality is a very important area of a job, in the personality profile evaluation there are no right or wrong answers. In this the person who is going to carry on the test needs to have a clear understanding of the job requirement in order to asses the candidates correctly. This evaluation
Analysis
Results
Discussion
Conclusions
The above research will probably bring out the result that the recruitment and selection not only brings the staff with their new ideas while they also open the door for the employees already in the organization. This process gives a fresh start to the new recruits. It also encourages the employees who are not able to meet up to the requirements of the vacancy. The recruitment and selection also reduces the retention rate of the organization. As they chooses the appropriate candidate for the vacancy who has interest in the job profile.