A study on

RECRUITMENT AND SELECTION PROCESS

With reference to

BAJAJ FINANCIAL SECURITIES LTD

A project report submitted to Jawaharlal Nehru Technology University, Vizianagaram in

partial fulfilment of the requirements for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

Submitted By
CHEVVAKULA SRAVANI

Reg.No: 22NM1E0018

Under the Guidance of

Dr.S.RAMESH

Head of the Department

DEPARTMENT OF MANAGEMENT STUDIES VIGNAN’s INSTITUTE OF

ENGINEERING FOR WOMEN

(Approved by AICTE and Affiliated to JNTU-GV, Vizianagaram) Accredited by

NAAC-A+ Kapujaggarajupeta,

VSEZ(Post), Visakhapatnam-530049, A.P

(2022-2024)
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2
 DECLARATION

I, CHEVVAKULA SRAVANI student of Vignan’s Institute of Engineering

for Women, hereby declare that this project report entitled
“RECRUITMENT AND SELECTION PROCESS” with reference to
BAJAJ FINANCIAL SECURITES LTD, VISAKHAPATNAM is a bona
fide record of work done by me during project work.

This project is in partial fulfilment of the requirement for the award of

degree of Master of Business Administration by
JNTUV(Vizianagaram), A.P for the year of 2022-2024.

Place: Visakhapatnam (CH.SRAVANI)

Date: Reg no:22NM1E0018

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 ACKNOWLEDGEMENT

I express my sincere thanks to BAJAJ FINANCIAL SECURITES LTD,

VISAKHAPATNAM for their kind co-operation to complete my project
work successfully.

I sincerely express my thanks to My Guide Dr .S. RAMESH, Head of

the Department for her valuable guidance and intellectual suggestions
during this project.

I would also like to expand my thanks to our Head of the Department Dr

.S. RAMESH and to all other faculty members who have helped me and
supported me during the course of my project.

I express my sincere thanks to our Principal Dr. B. ARUNDHATHI, for

his continuous support and encouragement to avail me this project work.

I would be failing in my duty if I don’t express my profound gratitude to

the entire respondents who has spent their valuable time to answer the
questionnaire.

Finally, I sincerely express my thanks to my Parents, all my friends

and the other members for their continuous support and love

(CH.SRAVANI)
Reg.no:22NM1EOO18

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 VIGNAN’s INSTITUTE OF ENGINEERING FOR WOMEN
(Approved by AICTE and Affiliated to JNTU-GV, Vizianagaram)

Accredited by NAAC-A+

Kapujaggarajupeta, VSEZ(Post), Visakhapatnam-530049, A.P

CERTIFICATE

This is to certify that the Project report entitled RECRUITMENT AND

SELECTION PROCESS with reference to BAJAJ FINANCIAL SECURITES LTD,
VISAKHAPATNAM is a bona fide work done by CHEVVAKULA
SRAVANI, Reg.No:22NM1E0018 in partial fulfilment of the
requirements for the award of the degree of Master of Business
Administration by JNTUV(Vizianagaram), A.P

Signature of the HOD Signature of the Guide

Dr. S. RAMESH Dr. S. RAMESH

External Examiner

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 PREFACE

MBA is a stepping stone to a management career. In order to achieve practical, positive and
concrete results the classroom learning need to be effectively needed to the realities of the
situation existing outside the classroom. This is particularly true of management.

As per my specialization namely HUMAN RESOURCE MANAGEMENT. I got a chance to have

exposure in either. When I was permitted to do my project work in BAJAJ FINANCIAL
SECURITES LTD, VISAKHAPATNAM, I felt I got the right platform to enhance my knowledge.

To develop healthy managerial and administrative skill in potential managers, it is necessary that
theoretical knowledge must be supplemented with exposure to a real environment. Actually, it is a
life for management itself. It removes hesitation. The objective of the project is to make the student
to go into the deep of the particular situation and to realize how the scenario is. It gives a practical
understanding to researchers about the situation.

Research is always very important in every field.This project contains 5 chapters.

Chapter-1 includes the Introduction of Recruitment and selection, need, objectives, methodology
and limitations.

Chapter-2 explains Recruitment, selection ,reference.

Chapter-3 Industry profile and company profile.

Chapter-4 Presents the data analysis and interpretation of the project.

Chapter-5 includes summary, findings and suggestions and conclusion.

I am extremely grateful to my parents and friends for their full cooperation and valuable help to
complete this work. Last but not the least. I thank one and all that rendered help to me directly and
indirectly of this project work.I thank all those who contributed directly and indirectly in successful
carrying out this Work .

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 CONTENTS

CHAPTER 1:

Introduction and
Methodology
Process and types of
Recruitment
Process of Selection
Title of the Study
Sources of Data
Collection
CHAPTER 2:
Literature Review

Recruitment
Selection

CHAPTER 3:

Industry Profile
Company Profile
Theoretical Framework
CHAPTER 4:

Data Analysis and

Interpretation
CHAPTER 5:

Findings
Suggestions
Conclusion

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 CHAPTER - I

INTRODUCTION AND METHODOLOGY

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 INTRODUCTION
HUMAN RESOURCE MANAGEMENT

Human resource management (HRM), or human resource development, entails

planning, implementing, and managing recruitment, as well as selection,
training, career, and organizational development initiatives within an
organization. The goal of HRM is to maximize the productivity of an
organization by optimizing the effectiveness of its employees while
simultaneously improving the work life of employees and treating employees
as valuable resources. Consequently, HRM encompasses efforts to promote
personal development, employee satisfaction, and compliance with
employment-related laws.

To achieve equilibrium between employer and employee goals and needs,

HRM departments focus on these three general functions or activities:
planning, implementation, and evaluation. The planning function refers to the
development of human resource policies and regulations. Human resource
managers attempt to determine future HRM activities and plan for the
implementation of HRM procedures to help companies realize their goals.

Implementation of HRM plans involves four primary activities: acquisition,

development, compensation, and maintenance. Acquisition entails the hiring of
workers most likely to help a company attain its goals. The development
function encompasses the training of workers to perform their tasks in
accordance with company strategy. This activity also involves company efforts
to control and change employee behavior via reviews, appraisals, incentives,
and discipline. Compensation covers the payment of employees for their
services. Maintenance requires structuring labor relations he interaction
between a company's management and its unionized employees and ensuring
compliance with federal and state employment laws. Finally, the evaluation
function includes the assessment of a company's HRM policies to determine
whether they are effective.
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Human Resource is a basic need of any work to be done - ARTHUR
LEWIS. There are great differences in development between countries
which seem to have roughly equal resources, so it is necessary to enquire
into the difference in human behaviour.

HRM IMPLEMENTATION ACTIVITIES

To fulfill their basic role and achieve their goals, HRM professionals and
departments engage in a variety of activities in order to execute their human
resource plans. HRM implementation activities fall into four functional groups,
each of which includes related legal responsibilities: acquisition, development,
compensation, and maintenance.

ACQUISITION

Acquisition duties consist of human resource planning for employees, which

includes activities related to analyzing employment needs, determining the
necessary skills for positions, identifying job and industry trends, and
forecasting future employment levels and skill requirements. These tasks may
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 be accomplished using such tools and techniques as questionnaires, interviews,
statistical analysis, building skill inventories, and designing career path charts.
Four specific goals of effective human resource planning are:

 Sustaining stable workforce levels during ups and downs in output, which can
reduce unnecessary employment costs and liabilities and increase employee
morale that would otherwise suffer in the event of lay-offs.

 Preventing a high turnover rate among younger recruits.

 Reducing problems associated with replacing key decision makers in the event
of an unexpected absence.

 Making it possible for financial resource managers to efficiently plan

departmental budgets.

The acquisition function also encompasses activities related to recruiting

workers, such as designing evaluation tests and interview methods. Ideally, the
chief goal is to hire the most-qualified candidates without encroaching on
federal regulations or allowing decision makers to be influenced by unrelated
stereotypes. HRM departments at some companies may choose to administer
honesty or personality tests, or to test potential candidates for drug use.
Recruitment responsibilities also include ensuring that the people in the
organization are honest and adhere to strict government regulations pertaining
to discrimination and privacy. To that end, human resource managers establish
and document detailed recruiting and hiring procedures that protect applicants
and diminish the risk of lawsuits.

DEVELOPMENT

The second major HRM function, human resource development, refers to

performance appraisal and training activities. The basic goal of appraisal is to
provide feedback to employees concerning their performance. This feedback
allows them to evaluate the appropriateness of their behavior in the eyes of
their coworkers and managers, correct weaknesses, and improve their
contribution. HRM professionals must devise uniform appraisal standards,
develop review techniques, train managers to administer the appraisals, and
then evaluate and follow up on the effectiveness of performance reviews. They
must also tie the appraisal process into compensation and incentive strategies,
and work to ensure that federal regulations are observed.

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Training and development activities include the determination, design,
execution, and analysis of educational programs. Orientation programs, for
example, are usually necessary to acclimate new hires to the company. The
HRM training and education role may encompass a wide variety of tasks,
depending on the type and extent of different programs. In any case, the HRM
professional ideally is aware of the fundamentals of learning and motivation,
and must carefully design effective training and development programs that
benefit the overall organization as well as the individual. Training initiatives
may include apprenticeship, internship, job rotation, mentoring, and new skills
programs.

COMPENSATION

Compensation, the third major HRM function, refers to HRM duties related to
paying employees and providing incentives for them. HRM professionals are
typically charged with developing wage and salary systems that accomplish
specific organizational objectives, such as employee retention, quality,
satisfaction, and motivation. Ultimately, their aim is to establish wage and
salary levels that maximize the company's investment in relation to its goals.
This is often successfully accomplished with performance based incentives. In
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particular, HRM managers must learn how to create compensation equity
within the organization that doesn't hamper morale and that provides sufficient
financial motivation. Besides financial compensation and fringe benefits,
effective HRM managers also design programs that reward employees by
meeting their emotional needs, such as recognition for good work.

MAINTENANCE

The fourth principal HRM function, maintenance of human resources,

encompasses HRM activities related to employee benefits, safety and health,
and worker-management relations. Employee benefits are non-incentive-
oriented compensation, such as health insurance and free parking, and are often
used to transfer non taxed compensation to employees. The three major
categories of benefits managed by HRM managers are: employee services, such
as purchasing plans, recreational activities, and legal services; vacations,
holidays, and other allowed absences; and insurance, retirement, and health
benefits. To successfully administer a benefits program, HRM professionals
need to understand tax incentives, retirement investment plans, and purchasing
power derived from a large base of employees.

Human resource maintenance activities related to safety and health usually

entail compliance with federal laws that protect employees from hazards in the
workplace. Regulations emanate from the federal Occupational Safety and
Health Administration, for instance, and from state workers' compensation and
federal Environmental Protection Agency laws. HRM managers must work to
minimize the company's exposure to risk by implementing preventive safety
and training programs. They are also typically charged with designing detailed
procedures to document and handle injuries.

Maintenance tasks related to worker-management relations primarily entail:

working with labor unions, handling grievances related to misconduct such as
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theft or sexual harassment, and devising systems to foster cooperation.
Activities in this arena include contract negotiation, developing policies to
accept and handle worker grievances, and administering programs to enhance
communication and cooperation.

RECRUITMENT

Recruitment is defined as a process to discover, the sources of manpower to

meet the recruitment the staffing schedule & employ effective measures for
attracting the manpower in adequate number to facilitate, selection of an
efficient workforce.

Edwin B. Flippo defined recruitment as the process of searching for

prospective employees & simulating them to apply for the jobs in an
organization" Those definitions can he analyzed by discussing the process
of recruitment through systems approach.

Recruitment is an important part of an organization’s human resource planning

and their competitive strength. Competent human resources at the right
positions in the organization are a vital resource and can be a core competency
or a strategic advantage for it.

The objective of the recruitment process is to obtain the number and quality of
employees that can be selected in order to help the organization to achieve its
goals and objectives. With the same objective, recruitment helps to create a
pool of prospective employees for the organization so that the management can
select the right candidate for the right job from this pool.

Recruitment acts as a link between the employers and the job seekers and
ensures the placement of right candidate at the right place at the right time.
Using and following the right recruitment processes can facilitate the selection
of the best candidates for the organization.

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 In this is competitive global world and increasing flexibility in the labor
market, recruitment is becoming more and more important in every business.
Therefore, recruitment serves as the first step in fulfilling the needs of
organizations for a competitive, motivated and flexible human resource that can
help achieve its objectives.

RECRUITMENT PURPOSE AND IMPROTANCE OF RECRUITMENT

 Attract and encourage more and more candidates to apply in the organization.

 Create a talent pool of candidates to enable the selection of best candidates for
the organization.

 Determine present and future requirements of the organization in conjunction

with its personnel planning and job analysis activities.

 Recruitment is the process which links the employers with the employees.

 Increase the pool of job candidates at minimum cost.

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 Help increase the success rate of selection process by decreasing 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 a short period of time.

 Meet the organizations legal and social obligations regarding the composition
of its workforce.

 Begin identifying and preparing potential job applicants who will be

appropriate candidates.

 Increase organization and individual effectiveness of various recruiting

techniques and sources for all types of job applicants

OBJECTIVES OF RECRUITMENT

 To attract people with multi-dimensional skills &experience that suits the

present & future organizational strategies.
 To induct outsiders with a new prospective to lead the company.
 To infuse blood at levels of an organization.
 To develop an organization culture that attract competent to the company.
 To search& head hunt/head pouch people whose skills fit the company's
values.

Recruitment planning:

The first stage in the recruitment process is planning. Planning involves the
translation of likely job vacancies & information about the nature of these
jobs into set of largest that specify the number & type of applicants to be
contacted.

Strategy Development
Once it is known how many & what type of recruits are required, serious
consideration needs to be given to devise a suitable strategy for recruiting
the candidate for the organization. It may include issues like whether to
prepare the required candidates themselves or hire it from outside, what
type of recruitment method to be used, what geographical area be
considered for searching the candidates, which source of recruitment to be
practiced, & what sequence of activities to be followed in recruiting
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 candidates in the organization.
Searching
Once a recruiting plan & strategy are worked out, the search process can
begin. Search involves two steps:

• Source activation

• Selling

Screening

Screening of application can be regarded as an integral part of the recruiting

process. The selection process will begin after the application have been
scrutinized & short listed. The purpose of screening is to remove from the
recruitment process, at an early stage, those application who are visible
unqualified for the job, effective screening can save great deal of time and
money.

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TYPES OF RECRUITMENT :
Recruitment is of two types, Internal Recruitment and External
Recruitment.

INTERNAL RECRUITMENT:
It is a recruitment which takes place within the concern or organization
Internal sources of recruitment are readily available to an organization.
Internal sources are primarily three Transfer promotions and Re
employment of ex-employees. Re-employment of ex employees is one of
the internal sources of recruitment in which employees can be invited and
appointed to fill vacancies in the concern.

Internal recruitment may lead to increase in employee's productivity as their

motivation level increases. It also saves time, money and efforts. But a
drawback of internal recruitment is that it refrains the organization from
new blood. Also, not all the manpower requirements can be met through
internal recruitment. Hiring from outside has to be done. Internal sources
are of 3 types

• Transfers

• Promotions (through Internal Job Postings) and

• Re employment of ex-employees

Re employment of ex-employees is one of the internal sources of

recruitment in which employees can be invited and appointed to fill
vacancies in the concern There are situations when ex-employee provides
unsolicited application also.

EXTERNAL RECRUITMENT

External sources of recruitment have to be solicited from outside the

organization. The external sources of recruitment include employment at
factory gate, advertisements, employment exchange, employment agencies,
educational institutions, labor contractors, recommendations etc.

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Employment at Factory Level

This is source of external recruitment in which the applications for

vacancies are presented on bulletin boards outside the Factory or at the gate
This kind of recruitment is applicable generally where factory workers are
to be appointed. There are people who keep on soliciting jobs from one
place to another these applicants are called as unsolicited applicants.

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ADVERTISEMENT:

It is an external source which has got an important place in recruitment

procedure. The biggest advantage of advertisement is that it covers a wide
area of market and scattered applicants can get information from
advertisements. Medium used is Newspapers and television.

Employment exchanges:

There are certain Employments exchanges which are run by government.

Most of the government undertakings and concerns employee people
through such exchanges.Now-a-days recruitment in government agencies
has become compulsory through employment exchange.

Employment Agencies

There are certain professional organizations which look towards

recruitment and employment of people, i.e., these private agencies run by
private individuals supply required manpower to needy concerns.

Educational Institutions

There are certain professional Institutions which serve as an external source

for recruiting fresh graduates from these institutes. his kind of recruitment
done through such educational institutions is called s Campus Recruitment.
They have special recruitment cells which help in providing jobs to fresh
candidates.

Recommendations

There are certain people who have experience in a practical area. They
enjoy goodwill and a stand in the company. There are certain vacancies
which are filled by recommendations of such people the biggest drawback
of this source is that the company has to rely totally on such people which
can later on prove to be inefficient.

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 Labor Contractors

These are the specialist people who supply manpower to the Factory or
Manufacturing plants. Through these contractors, workers are appointed on
contract basis, i.e., for a particular time period.Under conditions when
these leave the organization, such people who are appointed have to also
leave the concern.

RECRUITMENT PROCESS:

• Identify vacancy
• prepare job description and person specification

• advertising the vacancies

• Managing the response

• Short-listing

• Arrange interviews

• Conducting interview and decision making

The recruitment process is immediately followed by the selection process

i.e., the final interviews and the decision making, conveying the decision
and the appointment formalities.

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RECRUITMENT POLICY OF A COMPANY

In today’s rapidly changing business environment, a well-defined recruitment

policy is necessary for organizations to respond to its human resource
requirements in time. Therefore, it is important to have a clear and concise
recruitment policy in place, which can be executed effectively to recruit the
best talent pool for the selection of the right candidate at the right place
quickly. Creating a suitable recruitment policy is the first step in the efficient
hiring process. A clear and concise recruitment policy helps ensure a sound
recruitment process.

It specifies the objectives of recruitment and provides a framework for

implementation of recruitment program. It may involve organizational system
to be developed for implementing recruitment programs and procedures by
filling up vacancies with best qualified people

COMPONENTS OF THE RECRUITMENT POLICY

 The general recruitment policies and terms of the organization

 Recruitment services of consultants

 Recruitment of temporary employees

 Unique recruitment situations

 The selection process

 The job descriptions

 The terms and conditions of the employment

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A Recruitment policy of an organization should be such that:

 It should focus on recruiting the best potential people.

 To ensure that every applicant and employee is treated equally with dignity and
respect.

 Unbiased policy.

 To aid and encourage employees in realizing their full potential.

 Transparent, task oriented and merit based selection.

 Weight age during selection given to factors that suit organization needs.

 Optimization of manpower at the time of selection process.

 Defining the competent authority to approve each selection.

 Abides by relevant public policy and legislation on hiring and employment

relationship.

 Integrates employee needs with the organizational needs.

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 FACTORS AFFECTING RECRUITMENT POLICY

 Organizational objectives

 Personnel policies of the organization and its competitors.

 Government policies on reservations.

 Preferred sources of recruitment.

 Need of the organization.

 Recruitment costs and financial implications.

RECENT TRENDS IN RECRUITMENT

The following trends are being seen in Recruitment:

OUTSOURCING

In India, the HR processes are being outsourced from more than a decade now.
A company may draw required personnel from outsourcing firms. The
outsourcing firms help the organization by the initial screening of the
candidates according to the needs of the organization and creating a suitable
pool of talent for the final selection by the organization. Outsourcing firms
develop their human resource pool by employing people for them and make
available personnel to various companies as per their needs. In turn, the
outsourcing firms or the intermediaries charge the organizations for their
services.

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 ADVANTAGES OF OUTSOURCING ARE:

I. Company need not plan for human resources much in advance.

II. Value creation, operational flexibility and competitive advantage

III. Turning the management's focus to strategic level processes of HRM

IV. Company is free from salary negotiations, weeding the unsuitable

resumes/candidates.

V. Company can save a lot of its resources and time

POACHING/RAIDING

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 “Buying talent” (rather than developing it) is the latest mantra being followed
by the organizations today. Poaching means employing a competent and
experienced person already working with another reputed company in the same
or different industry; the organization might be a competitor in the industry. A
company can attract talent from another firm by offering attractive pay
packages and other terms and conditions, better than the current employer of
the candidate. But it is seen as an unethical practice and not openly talked
about. Indian software and the retail sector are the sectors facing the most
severe brunt of poaching today. It has become a challenge for human resource
managers to face and tackle poaching, as it weakens the competitive strength of
the firm.

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 applications or
curriculum vitae i.e. CV through e mail using the Internet. Alternatively job
seekers place their CV’s in worldwide web, which can be drawn by prospective
employees depending upon their requirements.

ADVANTAGES OF RECRUITMENT ARE:

 Low cost.

 No intermediaries

 Reduction in time for recruitment.

 Recruitment of right type of people.

 Efficiency of recruitment process.

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 E-Recruitment

The buzzword and the latest trends in recruitment is the “E-Recruitment”. Also
known as “Online recruitment”, it is the use of technology or the web based
tools to assist the recruitment process. The tool can be either a job website like
naukri.com, the organization’s corporate web site or its own intranet. Many big
and small organizations are using Internet as a source of recruitment. They
advertise job vacancies through worldwide web. The job seekers send their
applications or curriculum vitae (CV) through an e-mail using the Internet.
Alternatively job seekers place their CV’s in worldwide web, which can be
drawn by prospective employees depending upon their requirements.

The internet penetration in India is increasing and has tremendous potential.

According to a study by NASSCOM – “Jobs is among the top reasons why new
users will come on to the internet, besides e-mail.” There are more than 18
million resume’s floating online across the world.

The two kinds of e- recruitment that an organization can use is –

 Job portals – i.e. posting the position with the job description and the job
specification on the job portal and also searching for the suitable resumes
posted on the site corresponding to the opening in the organization.

 Creating a complete online recruitment/application section in the companies

own website. - Companies have added an application system to its website,
where the ‘passive’ job seekers can submit their resumes into the database of
the organization for consideration in future, as and when the roles become
available.
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Resume Scanners:

Resume scanner is one major benefit provided by the job portals to the
organizations. It enables the employees to screen and filter the resumes through
pre-defined criteria’s and requirements (skills, qualifications, experience,
payroll etc.) of the job.

Job sites provide a 24*7 access to the database of the resumes to the employees
facilitating the just-in-time hiring by the organizations. Also, the jobs can be
posted on the site almost immediately and is also cheaper than advertising in
the employment newspapers. Sometimes companies can get valuable references
through the “passers-by” applicants. Online recruitment helps the organizations
to automate the recruitment process, save their time and costs on recruitments.

ONLINE RECRUITMENT TECHNIQUES

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 Giving a detailed job description and job specifications in the job postings to
attract candidates with the right skill sets and qualifications at the first stage.

 E-recruitment should be incorporated into the overall recruitment strategy of

the organization.

 A well defined and structured applicant tracking system should be integrated

and the system should have a back-end support.

 Along with the back-office support a comprehensive website to receive and

process job applications (through direct or online advertising) should be
developed.

 Therefore, to conclude, it can be said that e-recruitment is the “Evolving face of

recruitment.”

FACTORS AFFECTING RECRUITMENT

FACTORS AFFECTING RECRUITMENT

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 The recruitment function of the organizations is affected and governed by a
mix of various internal and external forces. The internal forces or factors are
the factors that can be controlled by the organization. And the external factors
are those factors which cannot be controlled by the organization. The internal
and external forces affecting recruitment function of an organization are:

SELECTION

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Once the potential applicants are identified, the next step is to evaluate their
qualification, qualities, experiences, capabilities, etc. make the selection. It
is the process of offering jobs to the desired applicants. Selection means
choosing a few from those who apply, it is picking up of applicants or
candidates with requisite qualifications and qualities to fill jobs in the
organization.

DIFFERENT EMPLOYEE SELECTION METHODS

Selecting the right employee can be a stressful, time consuming and costly
effort if not carefully handled. Through in-depth interviews, employee
referral, internal hiring or even a combination of the aforementioned
method, an employer can sift through the potentially qualified and find for
the job.

Screening

The most common employee selection method is the screening/ interview

process. There are many ways to approach interviewing potential

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employees such as posting Web ads, or ads in newspapers and magazines.
If it is a high-profile job and many people are expected to request an
interview, have a pre-screening process and perform a resume evaluation
via email, after the pre-screens, if there are still many lined up, have one or
two call backs for several of the best interviewers.

Referrals

You may find that a current employee knows someone in the field who is
looking for a new position or even an associate of good character not versed
in company related skills who is looking for a career, or a change in career
direction. You employee possibly motivated by a bonus incentive may seek
candidates who are exact fits for the open position making chances for a
good hire more possible also, selecting a candidate Who is familiar with an
existing employee may make her learning curve easier, as the newbie will
already have an inside source allowing questions to be asked without fear.

Internal Hiring

By selecting employees who are already within the organization, the

organization employer knows exactly what the candidates are bringing to
the table such as skills, abilities, work ethic and personality. Other
advantages of' internal hiring are that the employee is already very familiar
with the organization and may have a grasp on expectations, is familiar
with department heads and workers and has ideas about what improvements
to make. If there are no qualified employees internally, watch your
competitor companies for qualified people leaving who would be a match
for the position.

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 Employment Agencies
Employment agencies play an intermediate role between job seekers and
employers. The agency matches the skills and abilities of the seeker to the
open position, so there is a better chance that an employer will be happy
with the selection of candidates vying for the job. The agency will check
the background, aptitude, experience and other factors for a fee, which can
be pricey depending on the volume of expected job seekers.

PROCESS OF SELECTION

Tools applied in the selection process:

• Announcement of the job position

• Acceptance of the application forms

• Screening tests of the candidates

• Screening of the application

• Written tests Process of examination

• HR rounds /Employment face to face interview

• Letter of appointment

Selection Interview

Interview is the oral examination of candidates for employment. This is the

most essential step in the selection process. In this step the interviewer
matches the information obtained about the candidates through various
means to the job requirements and to the information obtained through his
own observations during the interview. Interview gives the recruiter an
opportunity

• To size up the candidate personally

• To ask question that are not covered in the tests

• To make judgments on candidates’ enthusiasm and intelligence

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 RECRUITMENT VS SELECTION

 Both recruitment and selection are the two phases of the employment process.
The differences between the two are:

 Recruitment is the process of searching the candidates for employment and

stimulating them to apply for jobs in the organization WHERE AS selection
involves the series of steps by which the candidates are screened for choosing
the most suitable persons for vacant posts.

 The basic purpose of recruitments is to create a talent pool of candidates to

enable the selection of best candidates for the organization, by attracting more
and more employees to apply in the organization WHERE AS the basic
purpose of selection process is to choose the right candidate to fill the various
positions in the organization.

 Recruitment is a positive process i.e. encouraging more and more employees to

apply WHEREAS selection is a negative process as it involves rejection of the
unsuitable candidates.

 Recruitment is concerned with tapping the sources of human resources

WHEREAS selection is concerned with selecting the most suitable candidate
through various interviews and tests.

 There is no contract of recruitment established in recruitment WHEREAS

selection results in a contract of service between the employer and the selected
employee.

35
 ADVANTAGES AND DISADVANTEGES OF E-RECRUITMENT:

 There are many benefits – both to the employers and the job seekers but the e-
recruitment is not free from a few shortcomings. Some of the advantages and the
disadvantages of e- recruitment are as follows:

ADVANTAGES OF E-RECRUITMENT ARE:

 Lower costs to the organization. Also, posting jobs online is cheaper than
advertising in the newspapers.

 No intermediaries.

 Reduction in the time for recruitment (over 65 percent of the hiring time).

 Facilitates the recruitment of right type of people with the required skills.

 Improved efficiency of recruitment process.

 Gives a 24*7 access to an online collection of resumes.

 Online recruitment helps the organizations to weed out the unqualified

candidates in an automated way.

 Recruitment websites also provide valuable data and information regarding

the compensation offered by the competitors etc. which helps the HR managers
to take various HR decisions like promotions, salary trends in industry etc.

DISADVANTAGES OF E-RECRUITMENT

 Apart from the various benefits, e-recruitment has its own share of
shortcomings and disadvantages. Some of them are:

 Screening and checking the skill mapping and authenticity of million of

resumes is a problem and time consuming exercise for organizations.

 There is low Internet penetration and no access and lack of awareness of

internet in many locations across India.

 Organizations cannot be dependant solely and totally on the online recruitment

methods.

36
 In India, the employers and the employees still prefer a face-to-face interaction
rather than sending e-mails.

ADVANTAGES OF OUTSOURCING RECRUITMENT

 Traditionally, recruitment is seen as the cost incurring process in an

organization. HR outsourcing helps the HR professionals of the organizations
to concentrate on the strategic functions and processes of human resource
management rather than wasting their efforts, time and money on the routine
work.

 Outsourcing the recruitment process helps to cut the recruitment costs to 20 %

and also provide economies of scale to the large sized organizations.

THE MAJOR ADVANTAGES OF OUTSOURCING PERFORMANCE

MANAGEMENT ARE:

Outsourcing is beneficial for both the corporate organizations that use the
outsourcing services as well as the consultancies that provide the service to the
corporate. Apart from increasing their revenues, outsourcing provides business
opportunities to the service providers, enhancing the skill set of the service
providers and exposure to the different corporate experiences thereby
increasing their expertise.

37
 THE ADVANTAGES ACCRUING TO THE CORPORATE ARE:

 Turning the management's focus to strategic level processes of HRM

 Accessibility to the expertise of the service providers

 Freedom from red tape and adhering to strict rules and regulations

 Optimal resource utilization

 Structured and fair performance management.

 A satisfied and, hence, highly productive employees

 Value creation, operational flexibility and competitive advantage

 Therefore outsourcing helps both the organizations and the consultancies to

grow and perform better.

TYPES OF JOB SEEKERS

 QUID PRO QUE

These are the people who say that “ I can do this for you, what can you give
me” These people value high responsibilities, higher risks, and expect higher
rewards, personal development and company profiles doesn’t matter to them.

 I WILL BE WITH YOU

38
 These people like to be with big brands. Importance is given to brands. They
are not bothered about work ethic, culture mission etc.

 I WILL DO YOU WHAT YOU WANT

These people are concerned about how meaningful the job is and they define
meaning parameters criteria known by previous job.

 WHERE DO YOU WANT ME TO COME

These people observe things like where is your office, what atmosphere do you
offer. Career prospects and exciting projects don’t entice them as much. It is
the responsibility of the recruiter to decide what the employee might face in
given job and thus take decision. A good decision will help cut down employee
retention costs and future recruitment costs.

Employee Selection is the process of putting right men on right job. It is a

procedure of matching organizational requirements with the skills and
qualifications of people. Effective selection can be done only when there is
effective matching. By selecting best candidate for the required job, the
organization will get quality performance of employees. Moreover,
organization will face less of absenteeism and employee turnover problems. By
selecting right candidate for the required job, organization will also save time
and money. Proper screening of candidates takes place during selection
procedure. All the potential candidates who apply for the given job are tested.

But selection must be differentiated from recruitment, though these are two
phases of employment process. Recruitment is considered to be a positive
process as it motivates more of candidates to apply for the job. It creates a pool
of applicants. It is just sourcing of data. While selection is a negative process as
39
 the inappropriate candidates are rejected here. Recruitment precedes selection
in staffing process. Selection involves choosing the best candidate with best
abilities, skills and knowledge for the required job.

The Employee selection Process takes place in following order-

PRELIMENARY INTERVIEW:

I. It is used to eliminate those candidates who do not meet the minimum

eligibility criteria laid down by the organization. The skills, academic and
family background, competencies and interests of the candidate are examined
during preliminary interview. Preliminary interviews are less formalized and
planned than the final interviews. The candidates are given a brief up about the
company and the job profile; and it is also examined how much the candidate
knows about the company. Preliminary interviews are also called screening
interviews.

II. APPLICATION BLANK :

The candidates who clear the preliminary interview are required to fill
application blank. It contains data record of the candidates such as details about
age, qualifications, reason for leaving previous job, experience, etc.

40
III. WRITTEN TEST:

Various written tests conducted during selection procedure are aptitude test,
intelligence test, reasoning test, personality test, etc. These tests are used to
objectively assess the potential candidate. They should not be biased.

IV. EMPLOYMENT INTERVIEW:

It is a one to one interaction between the interviewer and the potential

candidate. It is used to find whether the candidate is best suited for the required
job or not. But such interviews consume time and money both. Moreover the
competencies of the candidate cannot be judged. Such interviews may be
biased at times. Such interviews should be conducted properly. No distractions
should be there in room. There should be an honest communication between
candidate and interviewer.

V. MEDICAL EXAMINATION:

41
 Medical tests are conducted to ensure physical fitness of the potential
employee. It will decrease chances of employee absenteeism.

VI. APPOINTMENT LETTER:

A reference check is made about the candidate selected and then finally he is
appointed by giving a formal appointment letter.

HOW TO SELECT A RECRUITMENT CONSULTANT

42
 If an organization decides to outsource its recruitment processes or activities, it
is very important to find and select a suitable recruitment consultant or
consultancies, which can deliver results according to the needs of the
organization. Today, there are thousands of consulting firms (consultancies) as
well as freelance consultants working independently. An organization looks for
various considerations and qualities before selecting the suitable recruitment
consultant.

 The reputation of the consulting firm in the job market (based on expertise and
experience).

 Who are the consultant’s or firm’s past and present clients?

 Consultant’s expertise and experience (from how long has he/firm been in the
business)

 Does the recruitment consultant have the requisite resources to complete the targets on
time?

 Get the idea of the effectiveness and the services of the recruitment consultant from its
current and past clients.

QUALITIES OF AN INDEPENDENT RECRUITMENT CONSULTANT:

Some of the qualities or characteristics looked in recruitment consultants are:

43
• Marketing skills

• Flexibility and adaptability

• Wisdom

• Exuberance

• Ability to prioritize

• Ambition

• Resourcefulness

• Diplomacy/ delicacy

Selecting the right recruitment consultant is essential for the effective

recruitment processes. A successful Recruitment consultant is someone
who is determinative, focused, and able to create opportunities for him,
works harder and smarter than competitors and continually set and
achieve higher standards

44
 TITLE OF THE STUDY
A study on “RECRUITEMENT AND SELECTION PROCESS” with
reference to GLOBE CAPITAL MARKET LIMITED. Visakhapatnam.

OBJECTIVES OF THE STUDY:

To know the profile of BAJAJ FINANCIAL SECURITIES

LIMITED.
 To understand the process of recruitment.
 To know the sources of recruitment at various levels and various jobs.
 To critically analyze the functioning of recruitment process.
 To identify the probable area of improvement to make recruitment
procedure more effective.

SCOPE OF THE STUDY:

 To study the facts about the BAJAJ FINANCIAL SECURITIES LIMITED.

 To analyze the recruitment and selection policy of the organization.
 To understand analyze various HR factors including recruitment and
selection procedure at BAJAJ FINANCIAL SECURITIES
 To suggest any measures/recommendations for the improvement of
recruitment and selection procedures
 It covers clerical staff, officers, junior management, middle management
and senior management cadres.

IMPORTANCE OF THE STUDY

 To determine the present and future requirements of the organization in

conjunction with its personnel-planning and job-analysis activities.
45
 To help increase the success rate of the selection process by reducing
the number of visibly, under qualified or overqualified job applicants.
 To anticipate and find people for positions that do not exist yet.
 To Increase organizational and individual effectiveness in the short term
and long term.

DATA COLLECTION

The data for the purpose to study was collected from the two sources.

1. Primary Data

2. Secondary data

Primary Data:

The primary data are those, which are collected freshly and for the first
time, from the employees directly. It is collected through the following
methods.
It includes collection of firsthand information from the response who are
concerning with the MGCH & RI. It can be viewed as survey. Here the
researcher has collected the primary data by means of questionnaire, which
are specially designed to collect the necessary information have bee.

46
Secondary Data:

The Secondary Data are those which have already been collected by
someone or else which have been passed through statistical process.
Sources of secondary data can be categorized into 2 broad categories named
published and unpublished statistics. Various sources are available namely
books, magazines etc. and also collected from various files, records and
journals.

47
 SAMPLE SIZE: 50

PERIOD OF THE STUDY: 30 days

LIMITATIONS OF THE STUDY:

• The period of study is only 30 days, which is a major constraint.

• The study is only confined to Recruitment & Selection.

• The sample size taken for the research is small due to the constraint of time.

PRESENTATION OF THE STUDY

1. Introduction and methodology

2. Review of literature

3. Industry and Company profile

4. Theoretical framework

5. Data analysis and interpretation

6. Suggestions and finalization

48
 CHAPTER - II

LITERATURE REVIEW

49
LITERATURE REVIEW

Recruitment &Selection is one of the major functions of HRM. It helps the

manager to attract and select best candidates for the organization.

RECRUITMENT

Edwin B. Fllippo, (1979) “Recruitment is the process of searching the

candidates for employment and stimulating them to apply for jobs in the
organization”.

DeCenzo and Robbins: “Recruitment is the process of discovering

potential candidates for actual or anticipated organizational vacancies. Or
from another perspective, it is a linking activity— bringing together those
with jobs to fill and those seeking jobs.”

S. P. Robbins, “Recruiting is the discovering of potential candidates for

actual or anticipated organizational vacancies. It is linking activity-bringing
together those with jobs to fill and those sacking jobs.”

SELECTION

Mondi (2010) refers to the selection as “the process of indicating from a

group of applicants those individuals best appropriate for a particular
position in an organization”.
Whereas the recruitment process is aligned to inspire individuals to seek
employment with the organization, the selection process is to identify and
employ the best qualified and apt individuals for specific job positions.
Traditionally, it was implicit that organization could pick amongst
applicants and that they would accept all job offers. However, attracting a
large number of applicants was not the problem, but recruiting the right
applicants become the main concern amongst employers.

Amos et al. (2004), as well as Mathis and Jackson (2006), define

selection as the process of picking the most suitable applicants. The
process, according to them, is guided by predetermined selection criteria
such as job descriptions, job specifications and job profiling and begins
after the recruitment process has been accomplished.
50
 CHAPTER - III

INDUSTRY PROFILE AND COMPANY PROFILE

51
 INDUSTRY PROFILE

Securities Exchange Board of India (SEBI) was set up in 1988 to regulate

the functions of securities market. SEBI promotes orderly and healthy
development in the stock market but initially SEBI was not able to exercise
complete control over the stock market transactions. It was left as a watch
dog to observe the activities but was found ineffective in regulating and
controlling them. As a result, in May 1992, SEBI was granted legal status.
SEBI is a body corporate having a separate legal existence and perpetual
succession. With the growth in the dealings of stock markets, lot of
malpractices also started in stock markets such as price rigging, ‘unofficial
premium on new issue, and delay in delivery of shares, violation of rules
and regulations of stock exchange and listing requirements. Due to these
malpractices the customers started losing confidence and faith in the stock
exchange. So, government of India decided to set up an agency or
regulatory body known as Securities Exchange Board of India (SEBI).
There were several statutes regulating different aspects of the securities
market and jurisdiction over the securities market was split among various
agencies, whose roles overlapped and which at times worked at cross-
purposes. As a result, there was no coherent policy direction for market
participants to follow and no single supervisory agency had an overview of
the securities business. Enactment of SEBI Act was the first such attempt
towards integrated regulation of the securities market.
In the interest of investors, SEBI issued Disclosure and Investor Protection
(DIP) Guidelines. SEBI has placed a responsibility on the lead managers to
give a due diligence certificate, stating that they have examined the
prospectus, that they find it in order and that it brings out all the facts and
does not contain anything wrong or misleading. Though the requirement of
vetting has now been dispensed with, SEBI has raised standards of
disclosures in public issues to enhance the level of investor protection.

Functions of SEBI

The SEBI performs functions to meet its objectives. To meet three

objectives SEBI has three important functions are:

• Protective function.

• Developmental function.

52
 Protective functions:

 It Checks Price Rigging

 SEBI prohibits fraudulent and Unfair Trade Practice
 SEBI undertakes steps to educate investors so that they are able to evaluate
the securities of various companies and select the most profitable securities.
 SEBI promotes fair practices and code of conduct in security market by
taking following steps:
 SEBI has issued guidelines to protect the interest of debenture-holders
wherein companies cannot change terms in midterm.

Developmental Functions:

These functions are performed by the SEBI to promote and develop

activities in stock exchange and increase the business in stock exchange.
Under developmental categories following functions are performed by
SEBI:
 SEBI promotes training of intermediaries of the securities market.

 SEBI tries to promote activities of stock exchange by adopting flexible

and adoptable approach.
 SEBI has permitted internet trading through registered stock brokers.
 SEBI has made underwriting optional to reduce the cost.
 SEBI registers and regulates the working of mutual fund.

NATIONAL STOCK EXCHANGE

NSE was incorporated in 1992 but started its operations in 1994 with
trading in the wholesale debt market segment. In November 1994, it
launched the capital market segment as a trading platform for equities.
Further, in June 2000, it entered futures and options segment for various
derivative instruments. A nationwide fully automated screen based trading
system has since been set up at NSE. In a nutshell, we can say that it’s the
latest, most modern and technology driven exchange.
The NSE was established by banks, insurance companies, financial
institutions and other financial intermediaries. The board of members of
NSE consists of senior executives from promoter institutions and
professionals who do not directly or indirectly trade on the exchange.

53
 BOMBAY STOCK EXCHANGE

The Bombay Stock Exchange (BSE) is an Indian stock exchange located at

Dall Street,Kala Godha, Mumbai, Maharashtra, India. Established in 1875,
the BSE is Asia’s first stock exchange and the world's fastest stock
exchange with a median trade speed of 6 microseconds. The BSE is the
world's 11th largest stock exchange with an overall market capitalization of
$1.7 trillion as of January 23rd, 2016. More than 5500 companies are
publicly listed on the BSE.
BSE is the first stock exchange in the country which obtained permanent
recognition(in1956) from the Government of India under the Securities
Contracts (Regulation)Act 1956. BSE's pivotal and pre-eminent role in the
development of the Indian capital market is widely recognized. It migrated
from the open outcry system to an online screen-based order driven trading
system in 1995.

NAME OF THE COMPANY: BAJAJ FINANCIAL SECURITIES

Overview:

 3000+

Representative offices

 400+

Cities

 20+

Years of existence

 27

Years of management experience

 40+

Satisfied International & Domestic Institutional

 11

Exchanges memberships

54
 COMPANY PROFILE

Insurance

• The two insurance companies, Bajaj Allianz General Insurance Company

and Bajaj Allianz Life Insurance Company, are joint ventures with Allianz
SE, Germany. Bajaj Finserv is the majority partner in the JV and the two
companies individually manage operations in general and life insurance
spaces.

• The comprehensive life insurance solutions, technical expertise and

experience of Allianz SE combines with the in-depth market knowledge
and goodwill of "Bajaj" brand in India. Competitive pricing and customized
life insurance solutions have earned Bajaj Allianz Life the customer's trust
and market leadership in a very short time. Bajaj Allianz Life Insurance has
developed life insurance solutions that cater to every segment and age-
income profiles. Currently Bajaj Allianz Life has a strong life insurance
portfolio and caters to all kinds of customer needs from ULIPs to Child
plans, from group insurance to health insurance. Bajaj Allianz General
Insurance has developed general insurance solutions that cover a wide
range of needs, from health insurance, to motor insurance, to home and
travel insurance, and more

Board of Directors

S. Sreenivasan has been with Bajaj Finserv Ltd. (“BFS”) (Parent Holding
Company), as the President (Finance) since September 2011. From 1st
October 2014, he has been appointed as Chief Financial Officer of BFS.
Apart from his role as CFO, he is also responsible for overseeing the
insurance and stock broking business on behalf of BFS.

He was appointed as a director in the Company from 10 January 2012.

Currently, S Sreenivasan is the Chairman of the Company. In his previous
assignments, he has held leadership roles in Bajaj Allianz General
Insurance Company and Bahrain National Holding Company overseeing
Corporate Finance, Planning, Management Accounting and Taxation
functions.

He also holds a Bachelor’s Degree of Science from the University of

Kerala. He is also a qualified Chartered Accountant, a Cost Accountant, a
Chartered Financial Analyst (CFA Institute, Virginia, USA) and an MBA
from the Indian Institute of Management, Calcutta.

55
Manish Jain is the director & Chief Executive Officer of the company and
also responsible for providing strategic direction, managing and growing
the Loan Against Securities (LAS) & Corporate Finance business in Bajaj
Finance Ltd.

Manish joined Bajaj Finance in January 2010 as National Head – Credit &
Risk, Loans against Securities. Manish was instrumental in developing the
complete credit underwriting & risk management philosophy for the Loan
against Securities business at the time of launch and in creating a roadmap
in line with the organizational strategic intent. In April 2013, Manish took
over the responsibility of heading the Product function for Business Loans.
Where he has done an exceptional job. Manish possesses a strong domain
expertise and has always been an exceptional team player.
Babu Rao, is a Director in the Company and also the General Counsel of
Bajaj Finance Limited. He is responsible for Legal, Compliance and
Secretarial functions of the Company.

He is a Senior Legal Professional having 24 years of wide range of

experience in Banking Laws & Practice, Corporate Laws, Capital Markets,
SEBI, Tax Laws, Industrial & Personnel Management Laws, Intellectual
Property Laws, Contract Laws, Securitization
Act, Strategic Business Planning, Derivatives and Regulatory Compliance,
Litigation, Mergers and Acquisitions.

He has worked with companies like Citibank N.A. as Director Legal and
Dy. General Counsel, Amarchand Mangaldas, HDFC Bank, Axis Bank,
Unit Trust of India, etc.

Ajita Kakade is Director in the Company and also Chief - Credit and
Operations at Bajaj Housing Finance Limited. She has been with Bajaj
Finance Limited for over 9 years and was Head – Business HR, Employee
Engagement and HR Ops. In her last role, she has been pivotal in
customizing the HR employee engagement model and has managed
employee engagement across the company by working closely with Group
Business Heads and Business heads. Previously she ran different roles
which include consumer operations and customer experience.

The Board will discharge the function of CSR Committee as per Section
135 of the Companies Act, 2013

Opening a Demat account online has become possible today in a few clicks.
Several services today are accessible through internet and mobile apps.
Stock Trading is no different. Many stockbrokers provide the ease of share
market trading through web and mobile applications. It is also much easier
to open Demat Account online through stockbrokers. Demat account
opening journey takes 5 to 10 minutes and can be completed from the
comfort of home.
56
57
 Features of Demat Account

• Fully Online

BFSL offers Demat & Trading account through 100% online account
opening journey

• Free Account

One can open demat account through BFSL’s Freedom Subscription plan

• Web & App Access

An account holder is provided a web platform and an app to access the

account details. BFSL’s app is called as BAJAJ SECURITIES APP

• Low Brokerage

With BFSL Demat & Trading Account, one gets to enjoy lower brokerage
rates in the industry.

• Margin Trade Financing

BFSL Demat & Trading Account holders get the facility of Margin Trade
Financing (MTF). This is a feature that makes it possible to buy stocks of
higher value than available funds.

• Multiple Products

With BFSL Demat and Trading Account, one can invest in shares, equity
Futures and Options, ETFs, Bonds , IPO.

• Our Offerings
o Open Demat Account

o Open Trading Account

o IPO
o Margin Trade Financing
o Trade & Carry

58
Story of Bajaj Finance | History of Bajaj Finance

2022-2023
Bajaj Finance launched its Initial Public Offer (IPO) in 1994. In the same year,
Bajaj Finance was listed on the Bombay Stock Exchange (BSE) as well as the
National Stock Exchange of India (NSE). Bajaj Finance is listed in a number of
other stock exchanges like Calcutta Stock Exchange, Delhi Stock Exchange,
Madras Stock Exchange etc. Bajaj Finance is a part of multiple indices like
Nifty 50, Nifty 500, S&P BSE Sensex etc.

2021-2022
Bajaj Finance was originally incorporated as Bajaj Auto Finance Ltd. on
25 March 1987 as a Non-Banking Financial Company primarily focused
on providing two and three-wheeler finance. After over a decade in the
auto finance market, it launched its initial public offering of equity share
and listed on the Bombay Stock Exchange and National Stock
Exchange of India. Subsequently, the Company ventured into consumer
lending, SME (small and medium-sized enterprises) lending,
commercial lending, rural lending, deposits, and wealth management.

BFL, a thirty-five-year-old enterprise, has now become a leading player

in the NBFC sector in India. On a consolidated basis, it has a franchise
of 57.6 million customers; its assets under management stands at ₹
197,452 crore; it earned a net interest income of ₹ 21,892 crore; profit
after tax of ₹ 7,028 crore; and enjoys capital adequacy in excess of
27%, which is well above the RBI norms.

2020-2021

Bajaj Finserv Ltd. (BFS) is the holding company for the various financial
services businesses under the Bajaj group. It serves millions of customers in the
financial services space by providing solutions for asset acquisition through
financing, asset protection through general insurance, family protection and
income protection in the form of life and health insurance and retirement and
savings solutions. BFS participates in the financing business through its
52.65% holding in Bajaj Finance Ltd. (BFL) and in the protection business
through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General
Insurance Company Ltd. (BAGIC) and Bajaj Allianz Life Insurance Company
Ltd. (BALIC). Bajaj Finserv Direct Ltd. (BFSD), which has a long term goal of
creating a digital marketplace offering full range of financial products, is a
subsidiary of BF.

2020-2019

59
A year that ended with the pandemic taking over the world did have some
notable achievements in the first part. AUM grew by 27% YOY to Rs.
1,47,153 crore as on 31st March 2020. The customer franchise crossed the
40 million mark and the company's geographical spread expanded to 2,392
locations across India, in urban and rural areas.

Bajaj Financial Securities Limited also started its operation in H2 2019. Its
strategy is to offer a full product suite (broking) to loan against securities
(LAS) clients and grow the profit pool of the LAS business.

2018-2019

It proved to be another stellar year when Bajaj Finance Limited, for its
foreign currency borrowing program, received a long term issuer credit
rating of 'BBB' – with a stable outlook and a short term issuer credit rating
of 'A-3' by S&P Global Ratings in January 2019. A 'BBB- 'rating is
equivalent to India's sovereign rating assigned by S&P Global Ratings.

2017-2018

A notable year of remarkable strides in business, customer convenience and

accolades. To begin with, Bajaj Finance's AUM stood at a whopping Rs.
77,970 crore, successfully crossing the Rs. 75,000 crore mark and bagging
the highest ever quarterly profits through the year. The board committee of
Bajaj Finance Limited approved raising Rs. 4,500 crore through a Qualified
Institutional Placement (QIP) with an aim to further diversify the investor
base in the 2nd quarter of the year.

Aiming to be a well-diversified company, Bajaj Finance Limited picked up

a nearly 11% stake in mobile wallet major Mobikwik for about Rs. 225
crore acquiring shares worth Rs.
271,050 through compulsory convertible preference shares (CCPS). Bajaj
Finance Limited holds approximately 10.83% of Mobikwik's equity on a
fully diluted basis.

Being leaders in consumer finance, the group decided to pave the digital
route towards customer convenience. Bajaj Finserv Direct Limited was
carved out of Bajaj Finance to enable the customer to transact digitally,
enhancing the end-to-end online experience. Bajaj Housing Finance
Limited also commenced its operations for mortgage loans.

Achieving new heights, Bajaj Finserv's market cap crossed Rs.

1,50,000crore, making the company stand tall at 16th position in the
overall market cap ranking.

60
2016-2017

The company did a record 2.5 million loans in the first quarter of 2016, the
highest that we have done ever. In June 2016, the total franchise of the
company grew to 20.13 million. The total income was up 38% to Rs. 2, 673
crore. PAT was up 43% to Rs. 449 crore.

The company also launched the innovative life care finance, which allows
for elective surgery to be financed, with close to 2,500 hospitals and clinics
in top-30 cities as partners across the country.

2015-2016

Overall volume momentum from a customer acquisition standpoint

remained reasonably strong. The company acquired 1.6 million customers
in June 2015, a 36% growth. Total income came in a tad below Rs. 2,000
crore, which is a 35% growth. Net interest income came in at 38% growth,
just a tad above Rs. 1,150 crore.

The consumer durable business grew 23%, and digital products such as
mobile, laptops and tablets grew 84% YoY. The company launched gold
loans for the urban market in January 2016 in 60 markets, taking the total to
85 from 25 markets. The number of total active EMI cards is second in the
row to India's largest private sector bank at 5.5 million. BFL also launched
a retail EMI card business where it is able to offer small loans on consumer
durable starting from Rs. 5,000 to Rs. 27,000.

With the competitive environment intensifying, competition in the retail

assets is also projected to intensify. Therefore, the company’s key focus
remains to continue diversifying, de-risk businesses, and creating higher
entry barriers to the business models.

2014-2015

The company acquired record 4.92 million customers in FY15 by 1.6

million customers more than last year, a 45% growth. The business grew
strength to strength with the consumer durable business continued to have a
strong showing, acquiring 800,000 customers in the last quarter despite a
muted growth. The digital product financing business delivered 87,000
customers, a 313% growth.

61
The rural business grew and caught great momentum. In the last quarter, we
disbursed close to Rs. 330 crore of new disbursals in the rural lending
business, and the business is now moving quite well.
The company introduced Doctor's loan out of the existing business loan by
using cutting edge analytical tools to pre-approve super affluent and above
category doctors in the top 40 cities in India and approving them. BFL also
launched the next version of wealth management with three new channels
in the last quarter: a relationship management channel, a Tele RM/Video
RM channel, and an independent financial advisor channel in partnership
with Bajaj Allianz General and with HDFC Life Company.

2011-2013

This was a period of innovation for Bajaj Finance Limited. The company
launched
India's first and only EMI (Existing Member Identification) Card and the
Flex saver in 2012. The spirit of innovation extended to processes, and the
company reduced the approval time for Durable and Lifestyle Financing
from 15 minutes to 5 seconds flat by 2011.

By the second year of this decade, the company had already crossed 2,000
crore milestone in Shareholders' Funds. The Assets Under Management are
already beyond Rs. 10,000 crore, and the PBT for FY 2012 was Rs. 602
crore.

In FY 2013-14, BFL is set to breach the Rs. 20,000 crore mark for its
Assets Under Management.

The Bajaj group legacy means that the company has always been careful
about growing soundly and places a lot of emphasis on governance. Bajaj
Finance Limited is one of the few NBFCs in the country to be awarded a
rating of FAAA/Stable for Fixed Deposits, indicating a very strong degree
of safety with regards to the timely payment of interest and principal on the
instrument by the Credit Rating and Information Services India Limited
(CRISIL). In addition to this, BFL was also rated high (P1+ rating) for the
ShortTerm Debt Programme and AA+/Stable for the Long- Term Debt
Programme by CRISIL and LAA+ for the Long-Term Debt Programme by
ICRA.

2000-2010

In the 2000-10 decade, the company expanded its expertise to finance

dreams beyond two & three wheelers and Durables to Business and
Property and a whole host of other personal needs. New partnerships to
create robust back ends to manage processes, leveraging technology to
crunch time to approval for consumers across businesses, and close
collaboration with peers for exploring avenues for profit helped the
62
 company chart out a new success map.
Bajaj Auto Finance crossed Rs. 500 crore of annual disbursement in 2000.
It doubled this within six years to Rs. 1,000 crore in 2006 also saw BFL's
Assets

Under Management crossing the Rs. 1,000 crore milestone. The

Shareholders' Funds crossed the Rs. 1,000 crore milestone in 2008.

In line with our fast diversifying finance portfolio, it was natural that the
name reflects the expanded sphere of the company's presence in customers'
life. The company changed its name from Bajaj Auto Finance to Bajaj
Finance Limited on 6th September 2010.

Historical Development of Recruitment & Selection in BAJAJ

FINANCIAL SECURITIES LIMITED
In the earliest stages of an intervention, recruitment decisions often get
made on the basis of who is standing in the right place at the right time with
the right look on his/her face. As the situation matures, we have to think
more carefully about picking the right people for longer-term roles
including middle and senior management. The integrity of the recruitment
and selection process helps to ensure sustainability by building a strong and
balanced team, demonstrating the Organization’s neutrality, promoting its
good name and serving as an example for partners. You may find that one
of the first roles you need to fulfil is a HR administrator to help achieve
these goals. Here are the major stages in this cycle:

1) Defining the Requirement

Decide what vacancy you have. If you need to fill a new role quickly you
might find it helpful to adapt one of the models provided here
Task analysis: Draw up a detailed list of tasks that the person will have
to do. This helps in determining the qualities and qualifications genuinely
required for the job.
Job description: produce an outline of the broad responsibilities (rather
than detailed tasks) involved in the job.
Person specification: decide what skills, experience, qualifications an
attributes someone will need to do the job as defined in the task analysis
and job description.
2) Attracting applications:

Your file of previous applicants can be a good place to start.

Advertising: phrase your announcement in a way that makes clear what the
job involves and the type of person needed. Avoid any stipulations, which
could be seen as discriminatory e.g.: applying an age restriction, which is
not necessary. You can display a notice internally and/or at your gate, in the
63
local newspaper or with a message on the local radio station.
Background information: provide applicants with clear, up-to-date and
accurate information about the organization, its work, its priorities and the
job. Clearly indicate the closing date for applications and the short listing
and interview dates.

64
3) Attracting applications:

Your file of previous applicants can be a good place to start.

Advertising: phrase your announcement in a way that makes clear what the
job involves and the type of person needed. Avoid any stipulations, which
could be seen as discriminatory e.g.: applying an age restriction, which is
not necessary. You can display a notice internally and/or at your gate, in the
local newspaper or with a message on the local radio station.
Background information: provide applicants with clear, up-to-date and
accurate information about the organization, its work, its priorities and the
job. Clearly indicate the closing date for applications and the short listing
and interview dates.

4) Selection

Select your candidate, be objective and unbiased, and choose the person
who best fits your person specification.
Short listing: assess applications on the basis of the person specification
(standard forms can be very helpful at this stage). Guard against bias and
discrimination - ensure that you select for interview those who match the
specifications, regardless of age, sex, race etc., and that the specifications
are not themselves discriminatory
Interviews: Interview your short-listed candidates. Remember that your job
is not only to assess the best candidate for the job, but also to create a great
impression of your organization. The amount and quality of the information
that you establish will be largely due to the effectiveness of your questions.
Use open questions (e.g., tell me about...how you...why did you...talk me
through... are do) and probe from the general to the specific. Avoid any
questions, which could be considered discriminatory egg: asking only
female candidates who looks after their young children. If you think such a
question is relevant - ask it of all candidates who have children.

5) Candidate assessments:

The interview will provide you with some information but check it out
before offering a job. Ways in which you could do this include:
Ask the candidate to show you examples of previous work, do a
presentation, a case study, some tests or full assessment. Tests can be done
before the interview or after the interview.
It depends on the number of candidates being interviewed and the type of
job.
Taking up references: You must have the specific permission of the
applicant to do so, particularly if you wish to contact their current
65
employer. If you need them quickly, try phoning.

66
 6) Candidate assessments:

The interview will provide you with some information but check it out
before offering a job. Ways in which you could do this include:
Ask the candidate to show you examples of previous work, do a
presentation, a case study, some tests or full assessment. Tests can be done
before the interview or after the interview.
It depends on the number of candidates being interviewed and the type of
job.
Taking up references: You must have the specific permission of the
applicant to do so, particularly if you wish to contact their current
employer. If you need them quickly, try phoning.

7) Making a Job Offer

If you think you have found the right candidate, it’s time to make the job-
offer. For your successful candidate:
• Prepare and send the appropriate documentation

• Make up the employee's personnel file; and arrange the induction plan.

8) Induction

Help your new recruit to settle in quickly and become productive as soon as
possible.

Checking candidates' information via reference is an essential step in a

recruitment process. However, many companies do not pay much attention
to such an important thing.

Recruiters should check candidates' information like achievements,

behavior in their previous companies.
Information that needs checking is:

I. Candidates' behaviour/ habits that can badly affect your department or

company's activities.
II. Achievements which candidates mention to be theirs but in fact, those
achievements belong to the whole team. Awfully, some candidates make up
such achievements.
III. Reasons why candidates do not work for the previous companies.

IV. Candidates' salary in their previous companies.

67
V. Relationship among candidates and their colleagues or managers.

68
 Recruiters can easily check such information by calling referees. The more
important the position is, the more carefully they have to check the
reference. In any circumstances, recruiters should highly appreciate and
focus on the reference check. By 2–3-minute calls, it is quite difficult to
know much about candidates' achievements or problems. So, they should
spend at least 20 minutes for the call plan. The questions they will ask
referees about candidates are:
1. How long have you worked with him? What is his ability?

2. What are the main strengths and weaknesses of him?

3. What do you think in general about his competence and what are his main
achievements?
4. Could you please tell me the relationship between him and his managers,
inferior or colleagues?
5. Do you know why he wants to change his job at this time? Recruiters had
better say thanks to the referees for spending time talking to them and
ensure that they will keep secret about the talks.

Sometimes, referees do not want to share negative information about

candidates. If the recruiters are professional and clever when talking,
referees will agree to share with them the information they need. Recruiters
should talk to the most appropriate people like candidates' direct managers,
co-workers or inferior is the best way. The ones who know candidates at
present are more suitable than the ones who knew them 10 years ago.
Normally the recruiters just need to find information from 3 recent
companies that candidates have worked. The recruiters must remember that
candidates' past achievements are the best mirror reflecting their future
achievements.

69
THE DIRECTIONS ON HOW RECRUITMENT AND SELECTION
IS DONE IN GLOBE CAPITAL MARKET LIMITED
ORGANISATION

On the over-all, the following steps are followed when one would like to
put in place a formal recruitment and hiring process:

1) First, define and clarify the strategy of the organization related to

Human Resource (HR) management. This strategy has to come from the
top-level leaders and managers of the organization, following the size.

2)Depending on the size of the organization there has to be someone

responsible to take charge for recruitment and hiring activities in the
organization. He will also be empowered to make decisions related
recruitment and hiring. This person has to be a direct report of the CEO and
the Chief HR Executive in the meantime.

3)Assign who else will be involved in the recruitment and hiring process.
This can be a standing committee of leaders and managers or a separate
group.

4)Come up with “organizational chart," the job descriptions, and the pay
scale and its different grades.

5)The responsible person who is empowered to do recruitment and hiring

will have to identify the vacancies, or the jobs that have not been filled up,
or without incumbents.

6)The Chief HR Executive will decide how the vacancies will be filled up.
From the most critical positions that have to be filled up to the less critical
one. This can be done by using in-house recruitment or by posting an online
or print advertisement. Or by hiring a professional recruiter.

7)The group referred to in number "3" will then be tasked to accept

applications. He / She will have to read, evaluate and study all applications
received within a certain time frame. It's suggested to consider candidates
who are most qualified and ready to do the job at once. From these
applications received, a tentative short list will be made. In case of in house
recruitment, a tentative short-list will have to be drawn up. This list will be
made up of the applicants to be considered for interview.

8)The recruiter will then have to start getting in touch with the tentative
shortlisted candidates by fixing a schedule for an initial interview with each
one of the candidates, or a group interview.
70
9)Conduct the initial interview. During the interview date, the candidates
will fill up application form if you have one to "get to know each other" the
first time with the purpose of feeling out each other if both parties can work
together in the organization.

10)The recruiter will then have to decide who among the candidates are
worth taking a more serious look by using certain tools like Psychological
testing.

11)The recruiter will then have to start getting in touch with the tentative
shortlisted candidates by fixing a schedule for an initial interview with each
one of the candidates, or a group interview.

12)Conduct the initial interview. During the interview date, the candidates
will fill up application form if you have one to "get to know each other" the
first time with the purpose of feeling out each other if both parties can work
together in the organization.

13)The recruiter will then have to decide who among the candidates are
worth taking a more serious look by using certain tools like Psychological
testing.

71
 CHAPTER - IV

DATA ANALYSIS AND INTERPRETATION

72
DATA ANALYSIS AND INTERPRETATION
a) 20 to 40 years
b) 30 to 40 years
c) 40 to 50 years
d) 50 years 20 and above

Particulars No.of Percentage of

Respondents Respondent
20 to 30 years 20 40%
30 to 40 years 25 50%
40 to 50 years 2 4%
50 years and 3 6%
above
Total 50 100%

6%

20 to 30
40%
30 to 40
40 to 50
50 Above
50%

INTERPRETATION

From the above table, 50% of Respondents are in the age group of 30 to 40
years. 40% of Respondents are in the age group of 20 to 30 years. 6% of
Respondents are in the age group of 50 years, remaining 4% of
Respondents are in the age of 40 to 50 years.

73
 b) Gender
a. Male
b. Female

Percentage
Particulars No. of of
Respondent Respondent
s
Male 33 66%

Female 17 34%

Total 50 100%

INTERPRETATION

From the above table, 66% of Respondents are male and 33% of
Respondents are female working in the organization.

74
 c) Marital status

a. Married

b. Unmarried

Particulars No. of Percentage of

Respondents Respondents

Married 33 66%

Unmarried 17 34%

Total 50 100%

34%
Male

66%

INTERPRETATION

From the above table, 66% of Respondents are married and 34% of
Respondents are unmarried working in the organization.

75
 d)Work experience
a. 0 to 5 years
b. 5 to 10 years
c. 10 to 20 years
d. Above 20 years

Particulars No. of Percentage of

Respondents Respondents
0 to 5 years 20 40%
5 to 10 years 15 30%
10 to 20 years 11 22%
Above 20 years 4 8%

Total 50 100%

INTERPRETATION

From the above table, 40% of Respondents are having an experience of 0 to

5 years. 30% of Respondents are having an experience of 5 to 10 years.
22% of Respondents are having an experience of 10 to 20 years. 8% of
Respondents are having an experience of above 20 years.

76
e) What are the sources of recruitment?

a) Internal
b) External
c) Both

Particulars No. of Percentage of

Respondents Respondents

Internal 15 30%
Externa 5 10%
l
Both 30 60%
Total 50 100%

30%
Internal
External
60% Both
10%

INTERPRETATION

It was found that 60% of recruitment is done by both internal and external
sources, while as external sources of recruitment are of 10% and internal
sources of recruitment are of 30%. Thus, employees are hired mostly from
both external and internal sources

77
 f) How was the approach of management during recruitment?

a. Positive
b. Negative
c. Casua

Particular No. of Percentage

s Respondents of
Respondent
s
Positive 40 80%
Negative 0 0%
Casual 10 20%
Total 50 100%

INTERPRETATION

It was found that 80% Respondents get positive approach from management and
20% of Respondents get casual approach from management. There is no scope for
negative approach.

78
g) Which of the following recruitment methods and procedure followed
for recruitment?
a. Employee referrals
b. Advertisements
c. Recruitment consultancy
d. Any other

Particulars No. of Percentage of

Respondents Respondents
Employee 35 70%
referrals
Advertisements 5 10%
Recruitment 0 0%
consultancy
Any other 10 20%
Total 50 100%

INTERPRETATION

From the above table, recruitment methods and procedure followed for
recruitment where Employee referrals is 70%, Any other is 20%, Advertisements
10% and there is no scope for Recruitment consultancy.

79
 h)Employee referrals play crucial role for attracting the talent pool.

a. Yes

b. No

Particulars No. of Percentage of

Respondents Respondent
Yes 50 100%

No 0 0%

Total 50 100%

INTERPRETATION

From the above table employee referrals play crucial role for attracting the talent pool
where all the employees are chosen option Yes.

80
INTERPRETATION

From the above table employee referrals play crucial role for attracting the talent pool
where all the employees are chosen option Yes.
i) How much time did the company take to respond to your applicants?

a. Less than 5 days

b. 5 to 20 days

c. 10 to 15 days

d. Above 15 days

81
 Particulars No. of Percentage of
Respondents Respondents
Less than 5 25 50%
days
5 to 10 days 10 20%

10 to 15 15 30%
days
Above 15 0 0%
days
Total 50 100%

INTERPRETATION

From the above table the company takes to respond to the applicants where less
than 5 days is 50%, 10 to 15 days is 30%, 5 to 20 days is 20% and there is no
scope for more than 15 days.

j) Which of the following selection procedures and methods followed by your

organization?
a. Aptitude test

b. Personal interview

c. Written test

d. Others

82
 Particulars No. of Respondents Percentage of
Respondents
Aptitude test 0 0%
Personal 5 100%
interview 0
Written test 0 0%
Others 0 0%
Total 5 100%
0

INTERPRETATION

From the above table, HR clearly defines the job description and job
specification in the recruitment process where, all the Respondents chosen option
Yes.

k) Which is the most important quality the organization looks for, in a

candidate?

a. Knowledge
b. Past experience
c. Discipline

83
 Particulars No. of Percentag
Respondents
e of
Responde
nts
Knowledge 10 80%

Past 40 20%
experience
Discipline 0 0%

Total 50 100%

INTERPRETATION

From the above table, the most important quality organization looks in a
candidate where, past experience is chosen by 80% of Respondents, 20% of
Respondents are chosen knowledge and no one chose discipline.

84
l) Does HR train hiring employees to make the best hiring decisions?

a. Yes

b. No

Particulars No. of Percentage of

Respondents Respondent
Yes 38 76%

No 12 24%

Total 50 100%

INTERPRETATION

From the above table, HR training hiring employees to make the best hiring
decisions where, 76% of Respondents chosen option Yes and remaining 24% of
Respondents are chosen option No.

85
m) Does organization followed different recruitment process for different
types of employees?
a. Yes

b. No

Particul No. of Percentage of

ars Respondents Respondents
Yes 40 80%

No 10 20%

Total 50 100%

INTERPRETATION

From the above table, organization followed different recruitment process for
different types of employees where, 80% of Respondents chosen option Yes and
20% of Respondents chosen option No.

86
n) Is organization doing timeliness recruitment and selection process?

a. Yes

b. No

Particul No. of Percentage of

ars Responde Respondents
nts
Yes 40 80%
No 10 20%

Total 50 100%

INTERPRETATION

From the above table, organization doing timeliness recruitment and selection
process where, 80% of Respondents chosen the option Yes and 20% of
Respondents chosen the option No.

87
16)Does HR provide adequate pool of quality applicants?
a) Yes
b) No

Particul No. of Percentage of

ars Respondents Respondents
Yes 50% 100%

No 0% 0%

Total 50 100%

INTERPRETATION

From the above table, HR provides adequate pool of quality applicants where, all the
Respondents chosen option Yes in the organization.

17)The duration of probation period for a new joiner in your

organization is?
a) 6 months
b) 1 year

c) 2 years

88
 Particul No. of Percentage of
ars Responde Respondents
nts
6 months 50 100
%
1 year 0 0%
2 years 0 0%
Total 50 100
%

INTERPRETATION

From the above table, the duration of probation period for a new joiner in
the organization 100% of Respondents chosen 6 months duration.

19)Which form of interview do you prefer?

a) Personal interview

b) Telephonic interview

c) Video conferencing

d) Others

89
 Particulars No. of Percentage of
Respondents Respondents
Personal 50 100
interview %
Telephonic 0 0%
interview
Video 0 0%
conferencing
Others 0 0%
Total 50 100
%

INTERPRETATION

From the above table, 100% of Respondents preferred only personal interview.

20. Rank the following according to importance given while recruiting

employees?

a) Qualification
b) Experience

c) Communication

90
 Particulars No. of Percentage of
Respondents Respondents
Qualificatio 0 0%
n
Experience 40 80%

Communica 10 20%
tion
Total 50 100%

INTERPRETATION

From the above table, according to importance given while recruiting employees
where, experience is chosen by the respondents of 80% and communication is
20%

21. Does the HR department is efficient on selection policy of the employees?

a) Yes

b) No
91
 Particul No. of Percentage of
ars Respondents Respondents
Yes 40 80%

No 10 20%

Total 50 100%

INTERPRETATION

From the above table, the HR department is efficient on selection policy of the
employees where, 80% of Respondents chosen the option Yes and 20% of
Respondents chosen the option No.

22. What are the reasons behind candidate not going to join after selection? a)
Personal
b) Salary problem

c) Not interested

d) Got another opportunity

92
 Particulars No. of Percentag
Respondents e of
responde
nts
Personal 25 59%
Salary package 10 20%
Not interested 0 0%
Got another 15 30%
opportunity
Total 50 100%

INTERPRETATION

From the above table, 50% of Respondents chosen the option personal, 80 of
respondents chosen the option got another opportunity, 20 % of the respondents
chosen the option salary package were the reason behind the candidates not going
to join after selection.

23) Are you comfortable with HR policies in your organization?

a) Yes

b) No

93
 Particula No. of Percentage
rs Respondents of
Responde
nts
Yes 45 90%

No 5 10%

Total 50 100%

INTERPRETATION

From the above table 90% of Respondents chosen the option Yes and 10% of
Respondents chosen the option No.

24) Selecting the high priority candidates can lessen the employee turnover
a) Yes

b) No

Particul No. of Percentage of

94
 ars Employees Respondents
Yes 40 80%
No 10 20%

Total 50 100%

INTERPRETATION

From the above table 80% of the Respondents chosen the option Yes and 20% of
the Respondents chosen the option No.

25) How do you rate the HR department performance in recruitment and

selection?

a)Very good
b) Good

c) Average

d) Poor

95
INTERPRETATION

From the above table 80% of the Respondents chosen the option Yes and 20% of
the Respondents chosen the option No.

26) How do you rate the HR department performance in recruitment and

selection?

a) Very good
b) Good

c) Average

d) Poor

Particul No. of Percentage of

ars Respondents Respondent
Very 40 80%
good
Good 10 20%
Average 0 0%

96
 Poor 0 0%
Total 5 100
0 %

INTERPRETATION

From the above table, 80% of Respondents chosen the option very good, 20% of
Respondents chose the option good. Average and poor ratings in HR department
performance in recruitment and selection

97
CHAPTER – V

FINDINGS

AND

SUGGESTIONS

98
FINDINGS
1) 60% of the employees of BAJAJ FINANCIAL SECURITIES LIMITED
are in favour of both the internal and external recruitment.
2) 70% of employees in BAJAJ FINANCIAL SECURITIES LIMITED are
in favour of employee referrals.
3) 80% of employees in BAJAJ FINANCIAL SECURITIES LIMITED are
recruited with their past experiences.
4) The management of BAJAJ FINANCIAL SECURITIES LIMITED
prefers to recruit and select the people with personal interview and 100%
of respondents are also chosen the same.
5) 80% of respondents agreed that selecting high priority candidates can
lessen the employee turnover.
6) All the respondents in BAJAJ FINANCIAL SECURITIES LIMITED are
satisfied with their HR policies.

99
SUGGESTIONS
1) I wish to suggest that most of the respondents who are agreeing to the
employee referrals denote that the company has complete faith and
believe on the employees. Companies should also pay attention to
unsolicited applicants.
2) I also suggest that the individuals supporting the corporate image and
profile denotes their loyalty and satisfaction towards their company
and job respectively. Employee should also takes into consideration the
matter of reduction in recruitment cost which will also benefit the
companies at large.
3) I wish to suggest that the individuals supporting the experience factor
denotes they are favouring a senior level employee’s corporate
achievements. Companies should also value the employee’s
communication skills higher than that of qualification factor as a senior
level employee adds value to the organization by communication skills
not by academic achievements.
4) I wish to suggest that the individuals supporting the organizational
needs indicates that the working environment is good as they are
keeping their individual needs behind organizational need. Companies
should also pay attention to recruitment source as adoption of internal
recruitment will cost less than the external recruitment.
5) I wish to suggest that the individuals supporting the relevant
experience indicate that organizations are unwilling to take individuals
from different domain. Employees should also rate the salary factor
equivalent experience.
6) I wish to suggest that the individuals supporting the essentials indicate
that they are very much satisfied with the organization. According to
me, if the duties to be performed are also included the 10% of rejection
would decrease.

10
0
CONCLUSION
Recruitment and Selection is an important operation in HRM, designed to
maximize employee strength in order to meet the employer's strategic goals and
objectives. Many recruitment processes still deliver a poor candidate experience.
Recruitment and Selection procedure is one of the major parts of the HRM.
Recruitment is about capturing and understanding all activities directed.

Recruitment is the process which prompts people to offer for selection in an

organisation. The important function of Human Resource Management (HRM) is
Recruitment & Selection, Performance appraisal, Evaluation, training need
assessment. Recruitment and selection in particular, provide the window through
which organizations gain access to willing and able human resources, the same
way as job applicants gain access to the organizations of their choice. This report
has been designed to select the best method of the recruitment and selection for
managing the human resources in the organization.

10
1
REFERENCES

Edwin B Filippo (1980), Personnel Management (McGraw-Hill Series in

Management), 5th edition.

Fundamentals of Human Resource Management, Eighth Edition David A.

DeCenzo and Stephen P. Robbins.

Robbins, Stephen P. Organizational behaviour / Stephen P. Robbins, Timothy A.

Judge. — 15th ed.

Mondi, R.W. (2010), Human Resource Management, 11th Edition. Upper

Saddle River, New Jersey: Prentice Hall

Amos K, Bialik R, Yeager VA, Wisniewski JM. Recruitment and retention:

what's influencing the decisions of public health workers?” Public Health
Foundation. In Press.

Mathis, R.L. Jackson, J.H. (2006), Human Resource Management, 11thEdition,

Thomson South - Western, USA, p 24

10
2
 QUESTINAIRE ABOUT RECRUITMENT AND SELECTION

1. Why do you choose your employees in between 19-27 age group

Do you think …?

A. 19-27 age groups can adaptable to work more quickly.

B. Above 27 age group might take more time to adapt then 19-27.

2. What will you prefer your employee marital status?

A. Married
B. Unmarried.

3. Is written examination necessary while you recruiting your employees?

A. Yes
B. No

4. What do you consider in internal job recruitment notification of your company?

A. Experience.
B. Performance of work.

5. Do you allow your employees to change departments through internal job notification?

A. Yes.
B. No.

6. Do you give promotion to your employees in change their departments through internal
job notification?

A. Yes.
B. No.

7. Whom do you prefer for a job? (With same skills)

A. Either candidate with reference

B. A walk in

10
3
 8. Which process do you prefer in recruiting?

A. Internal recruitment.
B. External recruitment.

9. Whom do you appoint for a positioning in your organization?

A. Experienced.
B. Fresher.

10. An organization prefers an employee’s resident to be in 50kms (approximately)

A. A professional residing more then 50kms.

B. A fresher residing below 50kms.

11. Do you think an employee must make a bond to work in your organization?

A. Yes.
B. No.

12. A candidate who applying for a job in your organization have good theatrical knowledge,
but poor communication skills?

A. Will you recruit him/ her?

B. Will you reject him/ her?

13. What will you consider in recruitment process?

A. Qualification.
B. Attitude.
C. Age.
D. Communication.

14. A person fail to take the written examination what will you do . . .

A. Will you conduct examination again?

B. Reject him?

15. A person with a good reference performed well in an interview but he idle in group
discursion what would you do?

A. Allow him to further rounds.

B. Reject him.

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4
16. What the qualities do you think a candidate has to posses?

A. Behavior and personality.

B. Outfit and confidence.

17. A person with good experience and well fit in his role but don not posses a code of
conduct. What will you do?

A. Will you appoint him?

B. Reject him.

18. A person performed well in interview, group discursion and as well as fit for the position
but without certification. What would you do?

A. Appoint him.
B. Deny him.

19. A person came again to company who took a very long leave than he allowed in to
job .Will you. . .

A. Allow him to work again.

B. Reject him.

20. Sending the recruitment letter to the employees who worked before, with your
organization. Do you support. . .

A. Yes.
B. No.

10
5