A Study of Recruitment & Selection Process in Bank

A STUDY OF RECRUITMENT & SELECTION mathematical operation IN BANK A project proposal (synopsis) report submitted in partial fulfillment of the requirements of the award of the degree of MASTER OF BUSINESS organization (MBA) From Guide Dr. Nitin G. Vighne By PRN. No. - 200801737737 Study Centre No. -44175 * session 2009*-10 To YASHWANTRAO CHAVAN OPEN UNIVERSITY, NASHIK (M. S. ) Title A STUDY OF RECRUITMENT & SELECTION action IN BANK With let out a sound and stiff banking system in India, it cannot confirm a healthy economy.The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and inherent factors. For the past three decades Indias banking system has several outstanding achievements to its credit. The virtually striking is its extensive r severally. It is no longer confined to only metropolitans or cosmopolitans in India. In fact, Indian banking system has even reached to the remote corners of the country. This is superstar of the main reasons of Indias progress. During the first phase of financial reforms, there was a nationalization of 14 major banks in 1969.This crucial step lead to a shift from Class banking to Mass banking. Since then the growth of the banking labor in India has been a continuous carry through. The Governments regular policy for Indian bank since 1969 has paid rich dividends with the nationalization of many esoteric banks of India. As far as the put forward scenario is c oncerned the banking industry is in a transition phase. The Public welkin Banks (PSBs), which be the foundation of the Indian Banking system account for more(prenominal) than 78 per cent of total banking industry assets.Unfortunately they are burdened with excessive Non Performing assets (NPAs), massive work force and lack of modern technology. On the other hand the Private sphere Banks in India are witnessing immense progress. They are leaders in network ban king, mobile banking, phone banking, ATMs. While at the same time, the Public Sector Banks are still facing the problem of unhappy employees. There has been a decrease of 20 percent in the employee strength of the private firmament in the wake of the Voluntary Retirement Schemes (VRS). As far as foreign banks are concerned they are likely to succeed in India.Some Banks in India ING Vysya Bank, HDFC Bank, Industrial Development Bank of India, SBI Bank, ICICI Bank and so forth In todays rapidly changing business environment, organizations afford to respond quickly to requirements of the people. The Financial market has been witnessing growth which is manifold for give-up the ghost few years. Many private players have entered the economy thereby change magnitude the level of competition. In the competitive scenario it has be scram a challenge for each company to adopt practices that would help the organization to stand out in the market.The competitiveness of a company of an organ ization is measured through the step of products and services offered to customers that are unique from others. Thus the best services offered to the consumers are result of the genius brains working behind them. Human Resource in this regard has become an important function in any organization. both the practices of marketing and finances can be easily emulated but the capability, the skills and natural endowment of a person cannot be emulated. Hence, it is important to have a percipient recruitment policy in place, which can be executed in effect to get the best fits for the vacant positions.Selecting the wrong candidate or rejecting the righteousness candidate could turn out to be costly mistakes for the organization. Therefore a recruitment practice in an organization must be effective and efficient in attracting the best manpower. Like in the case of BPOs, banking sector too faces the problem of contriteness. Thus, recruitment is an ongoing surgical procedure carried thr ough out the year. The project is based on the study of recruitment swear out. The various recommendations suggested have been the result of the study. The idea is to generate ways of dealing with high attrition and making hiring process manageable and efficient.To manage the recruitment and excerpt process in Banks. To know the purpose & importance of enlisting & Selection process for the banks. To know the challenges faced by HR Department in these Processes. To know the sources used by the banks for the recruitment and selection process. To know factors effecting the on the Recruitment & Selection process & working of the banks. To evaluate the recruitment and selection process in banks. 4. HYPOTHESIS 5. RESEARCH METHODOLOGY A Research foundation is simply the framework of plan for a study that guides for the collection and digest of data.The study is intended to know the Recruitment and Selection Process in the two banks and comparing the processes held. The study design is descriptive in nature. descriptive study is a fact-finding investigation with adequate interpretation. The descriptive studies come under formal research. It is the simplest type of research and is more specific. It is mainly knowing to gather descriptive information and it also provides basic information for formulating more sophisticated studies. Nature of the Study This research is Quantitative and Qualitativein nature. RESERCH METHODS- SAMPLING DESIGNSampling Method Used DATA order- Sources of Data collection Primary data Sources Personal Interview integrated Questionnaire Ope_n-ended Questions_ It is a type of questions that requires participants to respond in his/her own words without world restricted to pre-defined solvent choices. Close-ended Questions It is a type of questions which restrict the interviewees answers toper-defined response options. Secondary data Sources Study of recruitment and selection at ICICI & HDFC Banks by the manual provided by the HR depar tment. Internet Books Newspapers Magazines Journals 6. *Expected Contribution describe 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 line of credit abstract activities. Recruitment is the process which links the employers with the employees. Increase the pool of meditate candidates at minimum cost. Help increase the success rate of selection process by decreasing number of visibly under suffice or overqualified job applicants.Help reduce the probability that job applicants once recruited and selected will leave the organization only after a of a sudden period of time. Meet the organizations legal and social obligations regarding the composition of its workforce. Begin identifying and preparing dominance job applicants who will be appropriate candid ates. 10. Increase organization and several(prenominal) effectiveness of various recruiting techniques and sources for all types of job applicants 6. CHAPTERISATION Introduction Research methodological analysis & limitation Company profile Product profile Problem analysis Data analysis conclusion & recommendation Bibliography