The Referral Program operates in accordance with the following program requirements:
• Referral bonuses are awarded at the discretion of management with the Agency Director or his designee having final approval authority.
• Funding for the program must come from existing agency resources.
• The Agency will provide a form for completion and submission by either the applicant or the referring employee with the applicant’s application indicating that the referring employee has made the referral.
• The Agency will designate a position as “hard-to-fill” before the position is posted.
• Employees selected for eligible positions must be employed by the agency for at least one month before a referring employee may be eligible to receive a referral bonus.
Referred candidates cannot be current employees of the hiring agency in any capacity, to include temporary, temporary grant, research grant, time- limited project, or contract employees. Both the referring employee and the referred candidate must be employed by the agency when any referral bonus is paid receive the referral bonus.
• Any disputes arising from the application of this program will be the responsibility of the Agency Director or his designee to resolve and will not be considered a grievance under the State Employee Grievance Procedure Act.
• The agency HR Office will monitor the use of the Referral Bonus Program and will report annually to the Office of Human Resources information on the use of the Referral Bonus Program.
• The hiring process will be fair and consistent with agency policy and procedures, with no bias for or against candidates whose selection might make another employee eligible for a referral bonus.
Amount paid to the employees who refer the candidates and if they get selected varies from Rs.
7000 to Rs.2000 based on the grade of the employee refereed and the refereed candidate placed.
This amount is paid to the employees in two ways:
1. Immediately when the candidate is joined
2. After the completion of 3 months of the candidate selected.
Only middle level and senior level management employees have the opportunity of referring the candidates. This policy/scheme is not applicable to the top management employees. Also the employees who are under probation or training period are not eligible for this employee referral policy.
FINDINGS
Recruitment at an officer and managerial level is not done effectively.
Many people in the organization today are in the wrong jobs and as a result, they are not utilizing their full potential.
Hiring people based on personal connections when the person is not qualified for the job.
Most recruitment that involves managers is done during discussions at lunch hour, at social clubs or during the coffee break time.
Inadequate recruitment procedures resulted in a number of staff not being sufficiently qualified either for the positions they hold or their grades levels, especially in management positions.
Psychometric test is not conducted during the selection process.
Confusion in the designation and level to the employees even after permanent status for employment is given.
Proper training is not given to the recruitment team and manager.
Reaching few prospects due to internal recruitment, internet advertising most of the time.
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RECOMMENDATIONS
The organization should provide or set up a communication lab for the benefit of the fresher and existing employees that makes a career development and new opportunity to grow up in the organization.
This increases the employee morale and helps to attain the target.
Communication classes should be conducted timely to all employees should be followed by organization.
Refresher courses may organize intermittently for all employees in the rank and file category to relive job fatigue and monotony of every day work life. So employees can gain skills by Communication.
Candidates who enter into the Job Market must make sure that their efficiency in Communication is up to the expectation of an organization which will make them to go through the Recruitment and Selection system of Royal Sundaram Alliance Insurance Company.
The respondents in the corporate exhibits that communication skills are necessary for all the employees from different channels.
FOS (Fleet on street) Team should be made involved to pass through more communication classes from language experts.
The company should allot funds to create a communication laboratory for the beneficiary of all the employees.
SUGGESTIONS
1. Psychometric tests have to be conducted to assessing the personality of the applicants – will they fit in?
2. Look for different skills as well as the ideas of the candidate at the time of recruitment and selection process.
3. Adopting adequate recruitment procedures to employ efficient and talented people.
4. Job responsibilities have to be clearly explained to the candidate before the joining formality is done.
5. Campus recruitments, job fairs may attract more skilled and talented employees towards the organization.
6. Provide orientation training to all new employees before their initial work assignments and to all current employees who receive a different task or job.
7. Referral scheme has to be encouraged more at times when the requirement is urgent.
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CONCLUSION
Recruitment is essential to effective Human Resources Management. It is the heart of the whole HR systems in the organization. The effectiveness of many other HR activities, such as selection and training depends largely on the quality of new employees attracted through the recruitment the recruitment process.
Policies should always be reviewed as these are affected by the changing environment.
Management should get specific training on the process of recruitment to increase their awareness on the dangers of wrong placements.
Effective recruitment is important in achieving high organizational performance and minimizing labor turnover. As of now HDFC Bank Ltd. has a team of effective human resource which is efficiently managing the organization at its best. Though the recruitment process adopted by the organization needs to be improved, challenges are ahead for the HR Department to recruit people after the effect of recession.
In the present competitive & dynamic environment, it has become essential for organization to build and sustainable.
In competitive advantage, the Communication skill set has assumed more importance than even before. Dynamic and growth-oriented organization recognizes Communication as an important aspect of the Recruitment and Selection system for managerial function in a rapidly changing and economic environment.
Insurance industries should possess a valuable work force with good communication skill sets to get a good deal or business from their customers. In this sector the Open Market channel is the main source of revenue for the company for which they should be able to communicate well with their clients. Then the company can reach its profitability and objectives easily.
The company should take the suggestions and ideas from the employees and can conduct and examine the communication skill set within the employees. So that they can analyze the need and act accordingly for a better result and the growth of its own and valuable workforce.