NAME- RIYA AGARWAL

SAP ID – 500120040
SUBJECT- Human Resource Management
ASSIGNMENT- 2
BATCH-1
PROGRAM- MBA(Core)

Ans (a) To create a comprehensive HR plan for MFSL's trading

assistants, the following steps can be taken:
1)Assess Current and Future Needs:
Analyze current manpower in each center, anticipated vacancies
due to market conditions, and projected growth requirements.
2) Define Job Requirements:
Clearly outline the skills, qualifications, and experience needed for
trading assistants, considering the shift to online trading
operations and market dynamics.
3) Recruitment Strategy:
Develop a recruitment strategy to attract qualified candidates,
considering the competitive salary offerings and the need to fill 25
vacancies promptly.
4) Selection Process:
Design an efficient selection process, including screening,
interviews, and assessments, to identify the most suitable
candidates from the pool of 150 shortlisted graduates.
5)Training and Development:
Plan for onboarding and training programs to equip new hires with
the necessary skills and knowledge for their roles, especially in
online market operations.
6) Retention Strategies:
Implement retention strategies to retain skilled employees, such
as career development opportunities, performance incentives,
and a positive work culture.
7)Monitoring and Evaluation:
Establish mechanisms for monitoring employee performance,
gathering feedback, and evaluating the effectiveness of the HR
plan, allowing for adjustments as needed.

By addressing these key areas, MFSL can develop a robust HR plan

to meet its current and future manpower needs for trading
assistants effectively.

Ans(b) The chief HR manager should reassess the current market

conditions and the company's financial situation to determine the
urgency and feasibility of hiring 25 trading assistants. They should
closely monitor the stock market trends and assess the demand
for qualified finance graduates. Additionally, they should review
the company's manpower needs, considering factors such as
previous selection processes, current employee strength,
vacancies, and anticipated needs due to market conditions and
expansion.
Given the cautionary message from headquarters, the HR manager
should exercise prudence in the hiring process. They could
consider delaying the hiring process until there is more stability in
the market or explore alternative strategies such as reassigning
existing employees or outsourcing certain tasks temporarily. It's
crucial to maintain a balance between meeting immediate staffing
needs and ensuring the company's long-term financial stability.
Furthermore, the HR manager should communicate transparently
with the candidates about the evolving situation and potential
delays in the hiring process. This will help manage expectations
and maintain the company's reputation as a responsible employer.
Finally, they should collaborate with other departments, such as
finance and operations, to align staffing decisions with overall
business objectives.

Ans (C) Decentralizing the hiring process could offer several

advantages for Magnum Financial Services Ltd. Firstly, it would
allow for a more localized approach to recruitment, enabling better
understanding and response to regional market conditions and
talent availability. This could lead to quicker identification and
acquisition of suitable candidates, especially in areas with specific
skill demands or where competition for talent is high.
Secondly, decentralization can empower regional managers to
take ownership of their staffing needs, fostering a sense of
accountability and alignment with business objectives. It may also
streamline decision-making processes, as local managers are
likely to have a more intimate knowledge of their staffing
requirements and operational challenges.
However, there are also potential drawbacks to consider.
Decentralization could lead to inconsistencies in recruitment
practices across different regions, potentially compromising the
company's standards and creating disparities in employee quality.
Moreover, centralizing certain aspects of the hiring process, such
as standardized screening criteria or HR policies, can help ensure
fairness and efficiency.

Ultimately, the decision to decentralize the hiring process should

be based on a careful evaluation of the company's specific needs,
organizational structure, and the level of autonomy and
accountability desired at the regional level. Balancing the
advantages of localization with the need for consistency and
centralized control is key to making an informed decision.