Training

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INTRODUCTION

Training gives new or present employees the skills they need to perform their jobs. Training might thus mean showing a machinist how to operate his new machine, a new salesperson, how to sell her firm’s product, or a new supervisor how to interview and appraise employees. Where as training focuses on skills needed to perform employees’ current jobs, employee and management development training is a long term nature. Its aim is to develop current or future employees for future jobs with the organization or to solve an organizational problem concerning for, instance poor interdepartmental communication .The techniques used in both training and development are often the same, however and the distinction between the two is always some what arbitrary. Fact training purposes are broader today then they have been in the past companies used to emphasize production process.

The need for training in part depends upon the company’s selection and promotion policies. Companies that attempt to employ only people who already have the needed skills, place less emphasis on training. On the other hand, firms that stress promotion from within may have to special steps to ensure that employee developed the skills which will be needed.

Inadequate job performance or a decline in productivity or changes resulting out of job designing or a technological breakthrough requires some type of training and development efforts. As the job become more complex, the importance of employee development also increases. In a rapidity changes society, employee training and development is not only an activity that is desirable but activity training and development is not only an activity that is desirable but also an activity.

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TRAINING DEFINITIONS

“Training of any kind should have as its objective the redirection or improvement of behaviour so that the performance of the trainee becomes more useful and productive for himself and for the organization of which he is a part.” ---O.JEFF HARRIS, JR

“Training is a short term-term process utilizing a systamatic and organized procedure by which non-managarial personal learn technical knowledge and skill” ---STEINMEZ

IMPORTANCE OF THE TRAINING

Training is the corner- stone of sound management, for it makes employees more effective and productive. It is actively and intimately connected with all the personnel or managerial activities. It is an integral part of the whole management program, with all its many activities functionally inter related. Training is a practical and vital necessity because ,apart from other advantages mentioned above it enables employees to develop and raise within the organization and increase “market value” ,earning power and job security it enables management to resolve sources of friction arising from parochialism to bring home to the employees the fact that the management is not divisible. It moulds the employee’s attitudes and helps them to achieve a better co operation with company and a greater loyalty to it .The management is benefits in the sense that higher standards of quality are achieved.

The importance of training has been expressed in these words training is a widely accepted problem-solving device indeed, our national superiority in manpower productivity can be attributed in no small measure to the success of our educational and industrial training programmes. Training is the art of increasing the knowledge and skill of an employee for doing a particular job, It is concerned with and imparting specific skill for particular purpose. Given the

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wide ranging and diverse nature of the job roles in the company a large amount of staff development is required for continouising professional development. Again there is no consistent method in place for the allocation, monitoring and evaluation these events across the division.

The training and development activities that are undertaking appear primarily interest based, delivered by external providers. Other development activities such as coaching and monitoring, earning, learning groups job shadowing do not appear to be utilized to be required extent. The strategy in regard to training and development should move towards a more focused approach. That the longer term this would lead to:

 A direct link between organizational strategy and training and development strategy.

 New methods of training and development being utilized with less emphasis on traditional class room based training courses

 More effective evaluation of activities.

Training is a widely accepted problem solving device. Indeed, our national superiority in manpower productivity can be attributed in no small measure to the success of our educational and industrial training programmes.

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OBJECTIVES OF TRAINING

The major objectives of training are as follows;

 To train the employee in the company culture pattern.

 To train the employee to increase his quality and quantity of output. This may involve improvement in work methods or skills.

 To train the employee for promotion to higher jobs.

 To train the bright but dronish employee in the formation of his goals. This may involve instructions in initiative and drive.

 To train the employee towards better job adjustment and high morale.

 To reduce supervision, wastage and accidents. Development of effective work habits and methods of work should contribute toward a reduction in the accident rate, less supervision and wastage of material.

BASIC PURPOSE OF TRAINING

No organization has a choice of whether to train its employees or not, the only choice is that of methods. The primary concern of an organization is its viability, and hence its efficiency. Training imparts skills and knowledge to employees in order that they contribute to the organization’s efficiency and be able to cope up with the pressures of changing environment. The viability of an organization depends to a considerable extent on the skills of different employees, especially that of managerial care, to relate the organization with its environment.

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Training is not something that is done once to new employees, it is used continuously in every well- run establishment. Further technological changes, automation require updating the skills and knowledge.

 TO INCREASE THE EFFICIENCY

Training plays an active role in increasing efficiency of employees in an organization. Training increase skills for doing a job in a better way. Though an employee can learn many things while he is put on a job, he can do much better if he learns how to do the job. This becomes more important especially in the context of changing technology because the old method of working may not be relevant. In such a case, training is required even to maintain minimum level of output.

 INCREASE IN MORALE OF EMPLOYEES

Training increases morale of the employees. Morale is a mental condition of an individual or group which determines that willingness to cooperate. High morale is the evidence by employee enthusiasm, voluntary conformation with regulations, and willingness to cooperate with others to achieve organizational objectives. Training increases employees’ morale by relating their skills with job requirements.

 BETTER HUMAN RELATIONS

Training attempts to increase the quality of human relations in an organization. Growing complexity of organizations has led to various human problems like Alienation, inter-personal and inter group problems. Many of these problems can be overcome by suitable human relations training.

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 INCREASED ORGANISATIONAL VAIBILITY AND FLEXIBILITY

Training people are necessary to maintain organizational viability and flexibility. Viability relates to sustain its effectiveness despite the loss of key personal and making short -term adjustment with the existing personnel. Such adjustment is possible if the organization has trained people who can occupy the positions vacated by key personnel.

 TO IMPROVE ORGANISATIONAL CLIMATE:

An endless chain of positive reactions results from a well –planned training programme.

 OBSOLENCE PREVENTION

Training and development programmes foster the initiative and creativity of employees and help to prevent manpower obsolesce, which may be due to age, temperament or motivation, or the inability of a person to adopt himself to technological changes.

 PERSONAL GROWTH

Employees on a personal basis gain individually from their exposure to educational experience. Again, “management development programmes seems to give participants a wider awareness, an enlarged skill, and enlightened altruistic philosophy, and make enhanced personal growth.

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DETERMINING TRAINING NEEDS

In order to determine the training needs of an organization the personnel manager should seek information on the following points.

a) Whether training is needed? b) Where training is needed?

c) Which training is needed?

d) Is necessary probably result from problem such as

 Standards of work performance not being met  Accidents

 Frequent need for equipment repair

 High rate of transfer and turnover

 Too many low ratings on employee evaluation reports

 Many people using different methods to do the same job Excessive fatigue, fumbling, struggling with the job

 Bottle necks lines not being met.

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CLASSIFICATION OF TRAINING METHODS

On the job Demonstration Apprentiship Simulation

And Examples

Vestibule Off the job

Lectures Conference Case study Role-playing

Programmed Instruction

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EVALUATION OF TRAINING EFFECTIVENESS

Evaluation of training effectiveness is a highly desirable step in total training programmes so that one can judge the value or worth of the training. Hamblin has defined training evaluation as “any attempt to obtain information (feed back) on the effect of a training programme and to assess the value of the training in the light of that information”. Training as a service quality results requires continuous evaluation to achieve continuous improvement. Evaluation should pervade the training process. The four main dimensions of evaluation are:

 Evaluation of contextual factors  Evaluation of training inputs  Evaluation of the training process  Evaluation of training out comes

TRAINING AND HRM

Technological developments and organizational change have gradually led some employers to the realization that success relies on the skills and abilities of their employees, and this means considerable and continuous investment in training and development. This has been underscored by the rise in human resource management with its emphasis on the importance of people and the skills they possess in enhancing organizational efficiency. Such HRM concepts as ‘commitment’ to the company and the growth in the ‘quality’ movement have led senior management teams to realize the increased importance of training, employees development and long term education.

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The first step of vital importance in human resource development (HRD) is the identification of needed skills and active management of employee learning for their long-range future in relation to explicit corporate and business strategies.

HRM programmes are continuous and shaped to fit the cultural changes in the organization in relation to the needs of the individual. In this way training and HRD become tools for effecting change and the policy ramification can be wide ranging and strategic .As a result training takes on a variety of forms and covers a multitude of subjects. Training is just one of the instruments at the disposal of the HR department and the organization in creating HR strategy, and as keep reminds us.

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TRANINING CYCLE BASED ON HRD PLAN

Organizational strategy HRM strategy

Training and

development strategy

Analysis of needs

Training programmes

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TRAINING AT GEOJIT

Every organization big or small, productive or non productive ,economical or social, old or newly established should provide training to all employees irrespective of their qualification, skill, suitability of the job etc. thus no organization can choose whether or nor to train employees. Trainings are something that is done once to new employees; it is used continuously in every well- run establishment. Further technological changes, automation require updating the skills and knowledge.

Geojit financial services limited have been conducted internal and external training programmes to bring in awareness and effectiveness among the workers on this company. Mainly Geojit providing three types of training programmes to the employees.

INDUCTION TRAINING

Induction training programme is being conducted every month, initially this training programmes duration is of 8 days and it is held in main head office. Apart from the training they also provide with soft skill and product training. Induction programme is mainly conducted to make the newly recruited candidates familiar with the organization and the people working within the organization. The internal faculties it self are the one’s handling the programme. Induction training is compulsory for each and every person working that organization.

SOFT SKILL TRAINING

Soft skill training is bringing out one’s inner talent and caliber. This training is conducted for two days. External faculties are handling this training programme. The candidates working in that organization should attend at least one of the soft skill training. The organization conducts this training

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program weekly. The training department looks for the areas to be improved in employees through soft skill training. In this competitive world soft skill training is very important for one’s development.

PRODUCT TRAINING

In this training it is to give more knowledge about the product as well as more familiar with that product. This is conducting every month. Both the external and internal faculties are handling this programme. To improve the profitability of the company they should give training or ideas to improve the productivity. The candidate working in that organization should attend at least one product training.

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INDUSTRY PROFILE

GLOBAL PRESENCE

Over the last decade of reforms, one of the things that are remarkable about India has been the ratoer dramatic development of our equity market. If nothing else, it has been a puzzle trying to figure out why our equity market appears to vacillate between suffering from scams and market misconduct, and being one of the best developed markets in the world.

After the reforms, the markets have became transparent and accessible uniformaly to every one in the country, without bias to in caste, religion, gender or location .Over the second half of the nineties, this showed up in an unprecedented growth in the country , the fall in the brockage fees and the number of depositary accounts that were opened. Millions of people who were once spectators of the stock market now became participants,

This rosy picture of lower cost and more reliable trading practices for investors was marred by a procession of “crises” or episodes of market misconduct. The CRB mutual fund, a fund licensed and regulated by SEBI, absconded with investor’s money in 1997. Harshad Metha, who had manipulated the market in 1992, was able to manipulate stock prices again in 1998, with the help of the management of the companies and the Bombay Stock exchange. US 64 reported a large drop in its NAV in 1998, for which the ministry of Finance put up roughly Rs 1800 crore of public money.

There were portents of the explosion that ripped up the facade of a reformed and secure equity market in 2001, with there Ketene Parekh scam, and the closing of the redemption of US64. When the dust had settled, the market had dropped by 15% in a week. Newspaper headlines spoke about malpractices at exchange; a SEBI that seemed unprepared and unable to take corrective action; a UTI which announced because its NAV had yet again

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dropped to very low levels .It was yet another event with a substantial loss in the wealth of investors.

From 1994 to 1996, the markets did get enormous changes to the technology of trading, but the basic structure of the market was unchanged. There was still trading over. An “account period” of a week, followed by settlement the next week. Even this once a week settlement was optional because the markets were still running badla. The last nail in the coffin was the unseemly spectacle of SEBI dragging its feet from 1996 onwards on the, moving from badla to derivatives.

The recent years witnessed significant reforms in the capital market. It is well known that trading platform has become automatic, electronic, anonymous, order driven, nation –wide and screen aced. Shouting and gesticulations have yielded place to punching and clicking Speed and efficiency and the hallmark of the current system. Across the system, multitude of market participants trade with one another anonymously and simultaneously... On any trading day, more than 10,000 termini’s come alive, in 400 towns and cities; information is flashed on real time basis. Equal opportunity is provided for all concerned to access the information. Transparency is provided for all concerned to access the information

Transparency is ensured in respect of dissemination of information, price and quantum of the order; but member’s identity is sought to be hidden to prevent any bias in response.

An investor, today, need not wait with his fingers crossed, for a fortnight or more, for getting crossed cheques or crisp notes for the sale proceeds of his securities. The trading cycle has been shorted to T +2. The shortening of the cycle has been done in phased manner but in a rapid succession – from T+5 to T+ 3 to T+ 2, all in a matter of two years.

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The corporate governance and corporate performance do reflect and get reflected in the conditions of capital market. As a market regulator and protector, SEBI is concerned with corporate governance practice on an on going basis. According to the Economic Intelligence unit survey of 2003 regarding corporate governance across the countries, “Top of the country class, as might be expected, was Singapore followed by Hong Kong and somewhat surprisingly, India.”It is significant to note that Singapore and Hong Kong claiming the top positions, was not a matter of surprise, but India coming as third, surprised the world.

It shall be our collective endeavour to eliminate the “surprise element”. As a part o its endeavour towards continual improvement, SEBI has got corporate governance code and practice reviewed, by Narayana Murthy Committee. The committee’s recommendations for refinement were evolved through consultative process. Transparent deliberations and democratic approach. These were posted on SEBI`s website for 21 long days. Thereafter, they were got incorporated in Clause 49% of listing agreement. No sooner was this done, this corporate quitted was disturbed and a spate of representations followed.

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COMPANY PROFILE

Mr. C.J. George and Mr.Ranajit Kanjilal founded Geojit as a partnership firm in the year 1987. In 1993 ,Mr.Ranajit Kanjilal retired from the firm and Geojit became a public limited company by the name Geojit securities LTd .The Kerala state Industrial Development Corporation Ltd ,(KSIDC),in 1995 ,become a co promoter of Geojit acquiring 24% stake in the company ,the only instance in India of a government entity participating in the equity of a stock brocking company . Geojit listed at the Stock Exchange, Mumbai (BSE) in the year 2000.In 2003, and the Company was renamed as Geojit Financial Services Ltd (GFSL).The board of the company consists of professional directors; including a Kerala government nominee with 2/3rd_{of the board members being}

Independent Directors. With effect from ha July 2005, the company is also listed at The National Stock Exchange (NSE). Geojit is a charter member of the Financial Planning Standards Board of India and is one of the largest DP brokers in the country.

OVERSEAS JOINT VENTURES

Barjeel Geojit Securities, LLC, Dubai, is a joint venture of Geojit with Al Saud Group belonging to Sultan bin Saud Al Qassemi having diversified interests in the area of equity markets, real estates and trading. Barjeel Geojit is a financial intermediary and the first licensed brokerage company in UAE. It has facilities for off-line and on-line trading in Indian capital market and also in US, European and Far-Eastern capital markets. It also provides Depository services and deals in Indian and International Funds. An associate company, Global Financial Investments S.A.O.G provides similar services in Oman.

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VISION OF THE ORGANIZATION

To be a leading financial and commodities market intermediary for individual and institutional clients from India and overseas.

We will continually strive to raise our product and service standards by intelligent application of technology and processes.

VALUES AND BELIEFS

We understand and respect customer needs to consistently deliver total quality solutions through constant skill up gradation.

We believe that our company culture helps to attract and retain the best talent.

We up hold compromising ethical standards and strive to maintain a distinctive identity in public mind share through innovation and quality.

We are committed to achieve profitable progress consistently.

We freely share our investment experience across all ages and strata of society

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PRODUCT PROFILE

PRODUCTS AND SERVICES

 EQUITIES: Equities are the main business of Geojit. They act as a broker for the clients for buying and selling of shares of listed companies.

 DERIVATIVES: A derivative is a financial contract, between two or more parties, which is derived from the future value if an underlying asset. At any point of time there will always be available near three months contracting periods.

 INTERNET TRADING: It is the mode of doing trading through computer network. It was Geojit who first introduced internet trading in India in the year 2000.

 DEPOSITARY SERVICES: It just like the banking transaction it holds securities such as shares, debentures, bond, government securities, units etc of investors in electronic form.

 PORTFOLIO MANAGEMENT SERVICES: Equities are

traditionally known to yield better returns over long periods of time as compared to bonds, fixed deposits and other similar investments. Prudent investors should essentially include equities in their investment portfolio to maximize returns.

 INVESTMENTS: PMS is ideal for those smart investors seeking the higher returns that investment in equities can earn but lacking the skills or time to manage equity investment.

 EQUITY MARKET RESEARCH: In Geojit there is a full fledged research group, who is conducting the research about the market

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situation and the price fluctuations and the reasons. And they provide relevant information and details to the clients.

 LOANS AGAINST SHARES: Like banks provide loan by pledging, Geojit also provide loans for their clients by pledging shares.

 COMMODITY TRADING: It is a contractual obligation to make or accept delivery of a specified quantity of a commodity during a specified time in the future at a price agreed upon at the time the commitment is made. It is just same as that of equity trading but the only difference is that instead of shares in commodity market they deals with the commodities like oilseeds, Soya, pulses rice, gold, silver, crude oil etc.

 WEALTHMANAGEMENT PRODUCTS

• LIFE INSURANCE: Insurance is one of the booming sectors so that

the growth of industry is also getting stronger.

 MUTUAL FUNDS: Now a day’s one of the most profitable ways is to invest in mutual funds. It is a trust that pools the savings of a number of investors who share common financial goal. Anybody with an investable surplus of a little as a few thousand rupees can invest in mutual funds.

Geojit, a member of NSE and BSE, has a network of over 300 branches in India and abroad, rendering quality equity trading services Geojit not only has a strong offline presence but also provides automated online trading services.

Geojit also provide a call & Trade facility to its customers wherein they can place and track their orders through our dedicated call Centre Desk by

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dialing the toll free number 1800-425-5501 or 91-484-2405822(slanderer rates apply).

The online trading system allows customers to track the markets by setting up their own market watch, receiving research tips, stock alerts, real-time charts and news and many more features enable the customer to take informed decisions.

The brokerage structure makes Geojit Online trading all the more attractive.

• 0.03%for day trading (application on both sides )

• 0.03% for delivery.

CHOOSE YOUR PLATFORM

You can choose trading platforms that are suits you best. Geojit offers three versions to meet customer needs:

Silver

Gold and Silver platforms are quite similar as they are both web based. In Silver version the feeds are updated every minute and not real-time as in the Gold platform. However one can click the refresh button as many times to view the latest stock prices. There are no minimum brokerage charges for this platform. A normal investor who does not engage in speculative transactions may find the Silver version most suited to his needs.

GOLD

This platform is a web-based solution and the customer can login to the trading platform from anywhere in the world. During market hours the stock prices are refreshed seamlessly and the delay I transmission would be a few

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seconds, which is mostly dependant on the bandwidth connectivity used by the customer. In this, the trader will receive live quotes as the rates are refreshed every second.

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A minimum brokerage of Rs.300/- per month is required to be generated to avail this platform. Those who are generally on the move and may no be able to use their own computer for trading generally use this platform. Since it is a web-based system, one can login from any where in the world and take advantages of the price movements.

PLATINUM

The platinum version acts as a virtual dealer’s terminal providing live updates and confirmation. The executable program is downloaded on the customer’s computer so that he can trade from the comfort of his home/ office. Stock prices are real – time and continuum system. This is generally used by those who trade heavily intra- day and take very little delivery. Therefore the need for real –time prices and the quick orders entry like that of a dealer terminal come handy these customers.

MARGIN TRADING FUNDING SCHEME

Geojit Financial Services Ltd. Offers Margin trading Funding Facility to all offline customers under the scheme of

Margin Funding approved by SEBI.

Key features of the Scheme are as follows:

1. All securities defined under Group 1 of NSE are eligible for Margin Funding.

2. No processing fees

3. Easy and prompt account opening formalities margin funding of up to 50% of the purchased value

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4. Shares purchased are credited to customers Demat account maintained specifically for the purpose of Margin Trading

5. Bonus, and Rights are also directly credited to the customers said demat account. Similarly dividend shall be credited to the bank account stated in the said demat account.

6. Margin calls are made if there is fall of 10 % in the Margin funded portfolio. Margins can be replenished by cheque or by transferring funds from normal trading account.

7. Liquidation if margins are not topped on a 20 % falls in the funded portfolio.

8. Interest rate is 18% p.a

9. No limit on time up to which he can keep the position open

10. Purchases can be made only against clear funds 11. Margin trading is permitted only in NSE

LOANS FOR COMMODITIES TRADING

Geojit credits pvt.ltd offers loans against pledge of warehouse receipts for delivery at commodity exchanges.

Key features of the scheme

1. Loans against pledge of physical and Demat warehouse receipts

2. Loan up to 80% of sale value price contracted for futures delivery 3. Loans are also considered against Pledge of warehouse receipts

without Futures Sell contract on a case basis at higher margins ranging from 30% to 50% of the value.

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4. Loans available till sale proceeds are realized on settlement from the Commodity Exchange else up to a maximum of three months.

5. provision to switch between different future contracts(subject to validity of warehouse receipts)

6. Simple documentation.

7. Speedy disbursal of loans through RTGS.

DEPOSITORY

A depository can be compared to a bank. It holds securities such as shares, debentures, bonds, government securities, units etc. of investors in electronic form. There are two depositories in India, The National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).An individual who desires to avail the depository services can approach a Depository Participants (DP).Banks, financial institutions, custodians, brokers or any other entity eligible as per SEBI (Depository and Participants) Regulations, 1996 can apply to the Depository to become a depository participants. As on 31st December 2005 there were 221 depository participants in India.

DP FACILITIES OFFERED BY GEOJIT

• De-materialization: You can convert your physical shares into electronic

form by surrendering the shares for dematerialization at the Geojit branch.

• Re-materialization: Re-materialization enables you to convert the

dematerialized shares into physical form.

• Re-purchase: This facility helps you to submit the units of open-ended

mutual funds in case of re-purchase.

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• Pledge: You can pledge securities to avail a loan.

• IPOs: In case you have applied for an IP account and receive an allotment

then the securities are transferred directly to your demat for account. The same applies for bonus and rights issues.

• Commodity demats account: If you a commodity player, you may need to

open a commodity De-mat account with Geojit.

• Speed - e: If you register for speed-e services, then transfer instruction can

be placed online over the internet to pre-notified clearing members pool A/C. This does away wit the need to submit a physical delivery instruction slip.

• Internet services: If you have access to internet then you can register with

us to view your demat account the internet. This is very beneficial as you can avail of a host of services at no extra cost. You will be able to view your holdings, reports, and ledger and will have free access to our research reports at any time.

INTRODUCTION TO COMMODITIY FUTURES TRADING

A Geojit commodity, a subsidiary of Geojit financial services limited, is mainly engaged in the business of commodity futures trading Geojit commodities are a member of:

• National Multi- commodity exchange of India limited (NMCE)

• National Commodity & Derivatives Exchange limited (NCDEX)

• Multi-commodity exchange (MCX)

• India pepper and spice Trade association (IPSTA)

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Geojit provides information on commodity futures, along with technical and fundamental and fundamental analysis online at its website and also through the company’s large branch network .The Company conducts seminars, distributions free in-house literature and holds interactive sessions that help raise awareness on the futures markets. The number of participants is

Continuously on the rise thus leading to increased volumes and market efficiency. Geojit commodity offers futures trading through multiple exchanges in varied commodities such as;

• Agri commodities: Oilseeds, Soya, groundnut, pulses, rise, wheat,

sugar,spices,rubber,guar,pepper,cardamom,coffee,etc

• Precious metals: Gold and silver.

• Base metals: steel, aluminum, nickel, zinc, copper,etc • Energy product : crude oil and furnace oil

Geojit clientele in commodities range from investors, co-operative societies, state and national institutions to dealers, traders, manufactures, financiers, speculators, arbitagersss, etc.

Open a trading account and maintain initial margin with Geojit.

• When an order request is entered for buying/ selling for a match with the existing orders in the exchange system. If the order matches another order in the system it results in a trade.

• Contract note is issued in the exchange specified format containing details such as transaction, quantity price etc. Contract note is a legal document enforceable in the court of law.

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• The open purchase/ sale positions can be squared of fat nay time during the contract period.

• NMCE however does not allow members to enhance their position during the settlement month .Existing positions can be squared off.

• On the first (tenth in case of gold &silver) day of settlement month, margins on existing position are increased by20%.

• From 1st_{to 15}th_{of the contract month (10}th_{to 15}th_{in case of gold &}

silver), seller can tender warehouse receipts for settlement.

This means that the seller has the right to make delivery of the sold position any time between the 1st_{to 15}th₍₁₀th_{to 15}th_{in the case of gold &}

silver) of the contract month. The first buyer (as per the exchange records) shall have to necessarily take delivery of the same. The seller shall receive payment from the exchange on T+3day while the buyer has to make payment on T+1day. (T is the transaction day).

• The seller who places his commodity with Central Warehousing Cooperation (CWC) is issued a CWC receipt against this delivery. This receipt is accepted by Geojit and sent to the exchange that gives it the buyer. The buyer presents it at CWC and takes delivery of his commodity.

COMMODITY DEPOSITORY

1. The commodity depository account cane opened by individuals, partnerships firms, companies, etc. Unlike in the capital market segment where partnership firms cannot open the demat account in the firm name.

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3. Depository charges differ for each category

4. Only warehouse electronic receipts are considered for the purpose debating/ crediting depository account.

5. Commodities depository account can be availed at both the Depositories i.e., NSDL and CDSL.

6. The commodities Identification Number i.e., INC is akin to the ISIN.

PORTFOLIO MANAGEMENT SERVICES

 Investment objectives

To generate medium to long-term capital growth (2-3 years) by identifying undervalued stocks and those with growth opportunities from select list of well –researched stocks.

 Strategy

Identifying growth stocks from a select list through extensive research.

 Minimum Investment

Rs .10 lacks for Indian resident and Rs.25 lacks for Non-resident Indians

 Reports

Portfolio and NAV are communicated bi-weekly via e-mail.

 Risk factors PMS Fee

Option 1:3% P.a (charged @ o.75% at the end of every quarter on the average of beginning and ending NSV)

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Performance fee

20% on gain in NAV and above 12% p.a based on the high watermark concept charged at the end of the year or on withdrawal.

DISTRIBUTION

Geojit undertakes the distribution of variety financial instruments such as mutual funds, bonds, life insurance products, fixed deposits; etc the wealth centre team understands the universe of investment options, analysis the risk and return from these options and recommends investment options to clients to help them achieve their financial goals.

DEPARTMENT PROFILE

Departmentalization creates flexibility, adaptability and in action with in the firm by the efficient and effective grouping of job into meaningful work units to coordinate numerous jobs for the expedious accomplishment of the organization1s objectives.

There are mainly five departments in Geojit.

1. OPERATIONAL DEPARTMENT 2. TECHNOLOGICAL DEPARTMENT

3. DISTRIBUTION DEPARTMENT

4. FINANCE DEPARTMENT

5. HUMAN RESOURCE DEPARTMNENT

6. OTHER DEPARTMENTS

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 COMLIANCE DEPARTMENT

 ADMINISTRATION DEPARTMENT

 COMPANY SECRETARIAT AND CORPORATE COMMUNICATION.

1. OPERATION DEPARTMENT

Operation department is considered as a vital department, Operation department is headed by the chief operations officer and its business is stock brocking, commodity futures, PMS, research and depositary.

2. TECHNOLOGY DEPARTMENT

Technology department is headed by the chief technology officers, the technological assistance will be given by the technological department.

3. DISTRIBUTION DEPARTMENT

Distribution department is headed by the chief distribution officer and its main business areas are sales of mutual funds, insurance, bonds, IPO’s and fixed deposits etc

4. FINANCE DEPARTMENT

Finance department is headed by chief financial officer and under this department; they have various departments like finance and accounts, risk and settlement and NBFC operations.

5. HUMAN RESOURSES DEPARTMENT

Human resources department is headed by the chief of the human resources and their functions are training and development of employee, recruitment, payroll calculations, provident fund, ESI etc.

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6. OTHER DEPARTMENTS

There are certain small departments. They are legal, complaints, administration, company secretariats and cooperate communication etc.

HUMAN RESOURSES DEPARTMENT

Human resources being the main asset of any organizations. Managing, It is the most important function of this department. This department is mainly Responsible for the personnel functions of the company for resulting in timely Action for maintaining smooth industrial relations leading to high employee Morale and productivity.

LINE OF AUTHORITY

CHIEF MANAGER – Human Resource

ASSISTANT CHIEF MANAGER

GENERAL MANAGER

MANAGER

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VISION OF THE HR DEPARTMENT

“To serve as benchmark for other departments in Geojit in terms of service standards, knowledge level, people development and interpersonal relations”

The main functions of the personnel department are as follows. TRAINNG AND DEVELOPMENT

INDUCTION PROGRAM FOR NEW RECRUITS

Induction is the process of orienting the employee with the company and its surrounding it will take one week to complete induction training. This is conducted every month for new recruits in every region on a specific date. The program will be one week duration in which there will be talk about the company, the employee’s policy, organizational structure, products and services, nature of work that candidates has to perform and what the company expect them.

SOFT SKILL TRAINING

Soft skill training is mainly conducting by the external faculties. It is mainly for the developments of the employees.

PRODUCT TRAINING

Product training is also given by the external faculties. Product training is compulsory for all new employees. Product training is helpful for the employee for their better performance.

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PAYROLL CALCULATIONS

The salary calculations of the employees are done by the HR department. Different branches of the company are under various regions. In the department each region is given to a specific executive and he/she will do the calculation of salary of the employees in that region. In Geojit salary includes basic pay, city compensator allowance, the house rent allowances, risk allowances (given to those employees who passed several exams).etc

RECRUITMENT AND SELECTION

It is the process of recruiting the right person at the right place at the right time. Locating potential candidates for the employments through the various methods of recruitment and the selection of the employees for the different branches are done by the HR departments. Selection of the appropriate candidate from different applicant is done by the HR department and the preliminary interview is done by the assistant general manager of the department.

The sources of the recruitment being from:

a) Internal sources: It includes personnel already on the payroll of this

organization.

b) External sources: Advertisement, campus interview and through

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CHAPTER - III

OBJECTIVES AND RESEARCH METHODOLOGY

INTRODUCTION

Research is a systematic and scientific search for pertinent information on as specific topic. Research methodology is an essential part of a scientific study. This chapter narrates the activities involving in doing this study and deals with research methodology steps have been used for the purpose of exploration.

TITLE OF THE STUDY

A STUDY ON EFFECTIVENESS OF EMPLOYEES TRAINING AT GEOJIT FINANCIAL SERVICES LTD, ERNAKULAM.

OBJECTIVES OF THE STUDY

SPECIFIC OBJECTIVES

A primary objective of the study is to determine the training effectiveness of the existing training programmes adopted by Geojit.

GENERAL OBEJCETVES

1) To analyses the existing training system followed by Geojit.

2) To identify the employees perception regarding the training programme.

3) To find out the effectiveness of training in employees performance. 4) To study how the training programmes influencing for improving the

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RESEARCH DESIGN

Research design is the conceptual structure with in which research is conducted. It constitutes the blue print for the collection, measurement and analysis of data. Research design adopted for this study is descriptive research. This research is essentially a fact finding approach related largely to the present and abstracting generalization by the cross sectional study of the current situations.

RESEARCH INSTRUMENTS

The questionnaire places the main character in this work to collect the data from the employee.

SOURCES OF DATA

1. PRIMARY DATA

Primary data are collected through questionnaire it indicates all respondents are asked the same questions the same style and they are informed the purpose of the study.

2. SECONDARY DATA

The investigator may make use of the data collected by others for the purpose of the investigation. This is known as secondary data. The main sources of secondary data needed to prepare this project report was obtained from,

• Company Records.

• Magazine and Government publications

• Company Website

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• Internet

SAMPLE SIZE

Sample size: 100 Respondents

DATA COLLECTION

After drawing the required number the researcher approached the personnel department officers and submitted list requested to space the worker for as per convenience without disturbing the work. Hence the questionnaire was conducted in with the selected sample the usage approach the 100 and with the structure questionnaire.

SAMPLING DESIGN

A Sample design is a definite plan for obtaining a sample from a given population The Simple Random sampling method was used in this study.

UNIVERSE

Total strength of the employees working in Geojit Finacial services LTD,that is 850 employees.

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LIMITATIONS OF THE STUDY

1. Data’s were collected in a short period of time.

2. The sample size has been limited to 100 because of time constraints. 3. Personal biases are likely to affect the results of the survey.

4. The study is limited to Geojit financial services limited. At Ernakulam

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TABLE- 1

AGE GROUP OF RESPONDENSTS

Age No of Respondents Percentage

20 – 30 years 53 53

30 – 40 years 37 37

Above 40 years 10 10

Total 100 100

Source: primary data

Sample Size: 100

INFERENCE

The above table shows that out of 100 respondents 53% belongs to the age group of 20-30 years. 37% of the respondents belongs to 31-40 years age group and 10% of the respondents belong to the age group of above 40 years.

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CHART 1

AGE GROUP OF RESPONDENTS

53 37 10 0 10 20 30 40 50 60

20 – 30 years 30 – 40 years Above 40 years

Years P e rc e n ta g e

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TABLE 2

EXPERIENCE OF RESPONDENTS

Years of Experience No of Respondents Percentage

Below 1year 30 30

1- 5 years 43 43

6-10 years 17 17

11-15 years 10 10

Total 100 100

Source: Primary Data Sample Size: 100

INFERENCE

The above table shows that out of 100 respondents 30 % of the respondents are having below 1 year, and 43% having 1-5 years experience, 17 % having 6-10 years experience and remaining 10 % having 11-15 years experience.

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CHART-2

EXPERIENCE OF RESPONDENTS

30 43 17 10 0 5 10 15 20 25 30 35 40 45 50

Below 1year 1- 5 years 6-10 years 11-15 years Years P e rc e n ta g e

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TABLE -3

THE RESPONEDNTS ON THE BASIS OF TRAINING

ATTENDED

Training Programmes. No. of Respondents Percentage

Induction training. 6 6

Soft skill training 4 4

Product training 5 5

Induction& soft skill

training. 35 35

Induction& product

training 12 12

Soft skill & product

training. 8 8

All the three training. 30 30

Total 100 100

Source: Primary Data

Sample Size: 100

INFERENCE

The above table shows that out of 100 respondents 6% of the respondents are attended induction training only , 4% of the employees are attended product training only,5%, of the respondent are attended the soft skill training , apart from that some of them are attended two training programmes, 35 % of respondents are attended induction and soft skill training , 12 % are attended induction and product training, 8 % are attended soft skill and product training, 30 % of the employees are attended all the training programme.

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CHART -3

RESPONDENTS ON THE BASIS OF TRAINING ATTENDED

6% 4%

5%

36%

12%

8%

29%

Induction training.

Soft skill training Product training Induction& soft skill training. Induction& product training Soft skill & product training. All the three training.

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TABLE-4

THE BASIS OF TRAINING NEEDED IN A YEAR

Option No of respondents Percentage

One 12 12

Two 23 23

Three 35 35

More than three 30 30

Total 100 100

INFERENCE

The above table shows that out of 100 respondents 12% were needed only one training programme in a year, 23% needed twice in year, 35% needed thrice and rest of the 30 members needed more than 3 training programmes in a year.

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THE BASIS OF TRAINING NEEDED IN A YEAR

12 23 35 30 0 5 10 15 20 25 30 35 40

One Two Three More than

three No of times P er ce n ta g e

TABLE 5

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LEVEL OF SATISFACTION WITH THE TRAINING SCHEDULE

Opinion No. of respondents Percentage

Highly satisfied 31 31 Satisfied 26 26 Partially satisfied 27 27 Not satisfied 16 16 Highly dissatisfied 0 0 Total 100 100

INFERENCE

The above table shows that out of 100 respondents 31% are highly satisfied with training schedule, 26% are satisfied with this, 27% are partially satisfied 16% respondents are not satisfied, with the training schedule.

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CHART 5

LEVEL OF SATISFACTION WITH THE TRAINING SCHEDULE

31 26 27 16 0 0 5 10 15 20 25 30 35 Highly satisfied Satisfied Partially satisfied

Not satisfied Highly dissatisfied Opinion P er ce n ta g e

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TABLE 6

OPINION ABOUT THE PRODUCT TRAINING

Sample Size: 100

INFERENCE

The above table shows that out of 100 respondents 26% are highly satisfied with the product training, 28% are satisfied with this, 20% are partially satisfied, 16% respondents are not satisfied and 10% are highly dissatisfied with the product training.

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OPINION ABOUT THE PRODUCT TRAINING

26 28 20 16 10 0 5 10 15 20 25 30 Highly satisfied Satisfied Partially satisfied

Not satisfied Highly dissatisfied Opinion P er c en ta g e

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TABLE-7

OPINION ABOUT THE SOFT SKILL TRAINING

INFERENCE

The above table shows that out of 100 respondents 12% are highly satisfied with the soft skill training , 36% are satisfied with this, 10% are partially satisfied, 20% respondents are not satisfied and 15% are highly dissatisfied with the soft skill training.

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OPINION ABOUT THE SOFT SKILL TRAINING

19 36 10 20 15 0 5 10 15 20 25 30 35 40 Highly satisfied Satisfied Partially satisfied

Not satisfied Highly dissatisfied Opinion P e rc e n ta g e

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TABLE-8

OPINION ABOUT THE QUALITY AND LOCATION OF THE

TRAINING PROGRAMME

Sample Size: 100

INFERENCE

The above table shows that out of 100 respondents 38% are highly satisfied, 28% are satisfied, 31% are partially satisfied, 3% respondents are not satisfied with the quality and location of the training

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CHART-8

OPINION ABOUT THE QUALITY AND LOCATION OF THE

TRAINING PROGRAMME

38 28 31 3 0 0 5 10 15 20 25 30 35 40 Highly satisfied Satisfied Partially satisfied

Not satisfied Highly dissatisfied Opinion P e rc en ta g e

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TABLE-9

OPINION ABOUT THE ABILITY OF THE TRAINER

INFERENCE

The above table shows that out of 100 respondents 26% are highly satisfied, 48% are satisfied, 21% are partially satisfied, 5% are not satisfied with the trainer.

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CHART-9

OPINION ABOUT THE ABILITY OF THE TRAINER

26 48 21 5 0 0 10 20 30 40 50 60 Highly satisfied Satisfied Partially satisfied Not satisfied Highly dissatisfied Opinion P e rc e n ta g e

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TABLE-10

OPINION ABOUT THE TRAINING WAS WORTH WHILE IN

TERMS OF THEIR TIME AWAY FROM NORMAL JOB DUTIES

Sample Size: 100

INFERENCE

The above table shows that out of 100 respondents 37% are highly satisfied, 44% are satisfied, 17% are partially satisfied, 2% are not satisfied with the worthiness of the training programme.

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CHART-10

OPINION THAT THE TRAINING WAS WORTH WHILE IN

TERMS OF THEIR TIME AWAY FROM NORMAL JOB DUTIES

37 44 17 2 0 0 5 10 15 20 25 30 35 40 45 50 Highly satisfied Satisfied Partially satisfied

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TABLE-11

OPINION ABOUT THESTATEMENT THAT TRAINING IS

HELPFUL TO THE RESPONDENTS FOR RECOGNIZING

THEIR FULL POTENTIAL

Sample Size: 100

INFERENCE

The above table shows that out of 100 respondents 39% are highly satisfied, 37% are satisfied, 21% are partially satisfied, 3% are not satisfied with the statement that training is helpful for recognizing the full potential.

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OPINION ABOUT THE STATEMENT THAT TRAINING IS

HELPFUL TO THE RESPONDENTS FOR RECOGNIZING

THEIR FULL POTENTIAL

39 37 21 3 0 0 5 10 15 20 25 30 35 40 45 Highly satisfied Satisfied Partially satisfied

TABLE-12

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OPINION ABOUT THE STAEMENTTHAT TRAINING HELPS

EMPLOYEES TO ADJUST THEIR JOB WITH COMPLICATED

SITUATION

Sample Size: 100

INFERENCE

The above table shows that out of 100 respondents 12% are highly satisfied, 20% are satisfied, 16% are partially satisfied, 28% are not satisfied and 24% are highly dissatisfied with training adjust their job in complicated situations.

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OPINION ABOUT THE STATEMENT THAT TRAINING HELPS

EMPLOYEES TO ADJUST THEIR JOB WITH COMPLICATED

SITUATION

TABLE 13

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OPINION ABOUT THE STAEMENT THAT TRAINING IS

HELPFUL FOR INDUSTRIAL GROWTH

Opinion No of respondents Percentage

Yes 78 78

No 22 22

Total 100 100

Sample Size: 100

INFERENCE

The above table shows that out of 100 respondents 78% are agree and 22% are not agree with the training help for industrial growth.

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OPINION ABOUT THE STATEMNET THAT TRAINING IS

HELPFUL FOR INDUSTRIAL GROWTH

22 78 0 10 20 30 40 50 60 70 80 90 Yes No Opinion P e rc e n ta g e

TABLE-14

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OPINION ABOUT THE TRAINING HELPS TO IMPROVE THE

EFFICIENCY AND EFFECTIVENES OF THE WORK

INFERENCE

The above table shows that out of 100 respondents 31% were Highly satisfied, 46% are satisfied, 13% are partially satisfied, 3% of the respondents are not satisfied and 7% are highly dissatisfied with the efficiency and effectiveness of the work after training programme.

CHART-14

OPINION ABOUT THE TRAINING HELPS TO IMPROVE THE EFFICIENCY AND EFFECTIVENES OF THE WORK

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TABLE-15

THE RESPONDENTS ON THE BASIS OF GAINING

KNOWLEDGE

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Opinion No. of respondents Percentage Highly satisfied 39 39 Satisfied 56 56 Partially satisfied 5 5 Not satisfied 0 0 Highly dissatisfied 0 0 Total 100 100

Sample Size: 100

INFERENCE

The above table shows that the level of knowledge acquiring through the training programme 39% of the respondents are highly satisfied ,56% are satisfied and 5% are partially satisfied with knowledge through the training programme.

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CHART-15

THE RESPONDENTS ON THE BASIS OF GAINING

KNOWLEDGE

30 47 21 2 ₀ 0 5 10 15 20 25 30 35 40 45 50 Highly satisfied Satisfied Partially satisfied

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TABLE-16

THE RESPONDENTS ON THE BASIS OF MOTIVATING AND

ENCOURAGING FACTORS

Sample Size: 100

INFERENCE

The above table shows that 30% of the respondents are highly satisfied, 47% are satisfied, 21% are partially satisfied and 2% are not satisfied the motivational factors.

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THE RESPONDENTS ON THE BASIS OF MOTIVATING AND

ENCOURAGING FACTORS

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TABLE-17

THE RESPONDENTS ON THE BASIS OF EFFICIENT

USE OF TIME

Sample Size: 100

INFERENCE

The above table shows that 48% of the respondents are highly satisfied, 44% are satisfied 8% are partially satisfied with the time efficient use of time during the training programme.

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THE RESPONDENTS ON THE BASIS OF EFFICIENT

USE OF TIME

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TABLE-18

THE RESPONDENTS ON THE BASIS OF INCREASING

SELF CONFIDENCE

Sample Size: 100

INFERENCE

The above table indicates that out of 100 respondents 59% of the respondents are highly satisfied, 23% are satisfied and rest of the 18% are partially satisfied with increasing level of self confidence after attending the training programme.

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THE RESPONDENTS ON THE BASIS OF INCREASING SELF

CONFIDENCE

TABLE-19

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THE RESPONDENTS ON THE BASIS OF LEARNING

SKILLS AND TOOLS

INFERENCE

The above table shows that 8% of the respondents are highly satisfied, 22% are satisfied, 10% are partially satisfied, 32% are not satisfied and 28% are highly dissatisfied with getting level of learning skills.

CHART-19

THE RESPONDENTS ON THE BASIS OF LEARNING

SKILLS AND TOOLS

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8 22 10 32 28 0 5 10 15 20 25 30 35 Highly satisfied Satisfied Partially satisfied

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TABLE-20

THE RESPONDENTS ON THE BASIS OF OPPORTUNITIES

AVAILABLE TO UPDATE SKILLS THROUGH TRAINING

PROGRAMME

Sample Size: 100

INFERENCE

The above table shows that 38% of the respondents are highly satisfied, 43% are satisfied, 17% are partially satisfied and 2% are not satisfied with getting the level of updating skills.

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THE RESPONDENTS ON THE BASIS OF OPPORTUNITIES’

AVAILABLE TO UPDATE SKILLS THROUGH TRAINING

PROGRAMME

Not satisfied Highly dissatisfied Opinion P er c en ta g e

TABLE-21

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THE RESPONDENTS ON THE BASIS OF IMPROVEMENT IN

TECHNICAL SKILL

Excellent 28 28 Good 49 49 Average 18 18 Poor 5 5 Very poor 0 0 Total 100 100

INFERENCE

The above table shows that 28% of the respondents are rated as excellent, 49% are good, 18% are average and 5% are poor in technical skill.

CHART-21

THE RESPONDENTS ON THE BASIS OF IMPROVEMENT IN

TECHNICAL SKILL

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28 49 18 5 0 0 10 20 30 40 50 60

Excellent Good Average Poor Very poor

Opinion p e rc en ta g e

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TABLE-22

THE RESPONDENTS ON THE BASIS OF IMPROVEMENT IN

INTERPERSONAL SKILL

Excellent 38 38 Good 43 43 Average 10 10 Poor 9 9 Very poor 0 0 Total 100 100

Sample Size: 100

INFERENCE

The above table indicates that out of 100 respondents, 38% of the respondents are rated as excellent, 43% are good, 10% are average and 9% are poor in interpersonal skill.

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THE RESPONDENTS ON THE BASIS OF IMPROVEMENT IN

INTERPERSONAL SKILL

38 43 10 ₉ 0 0 5 10 15 20 25 30 35 40 45 50

Excellent Good Average Poor Very poor Opinion P e rc e n ta g e