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Transcript of SIP Final Report

A REPORT ON

STUDY ON THE HR PRACTICES (JOB DESCRIPTION, RECRUITMENT, SELECTION AND COMPENSATION MANAGEMENT) IN AN ORGANIZATION

By S SWARNA HASINI

NAME OF THE ORGANIZATION: VIMTA LABS LTD. DATE OF SUBMISSION: 16- MAY-2009

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AUTHORISATION

A report submitted in partial fulfillment of the requirements of MBA Program of ICFAI Business School.

SUBMITTED TO: PROF. RADHA KRISHNA(FACULTY GUIDE, IBS-HYDERABAD)

SUBMITTED TO: SHRI. P.V. RAO(VP-HR, VIMTA LABS LTD.)

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ACKNOWLEDGEMENTS

I, S Swarna Hasini of ICFAI Business School, Hyderabad, would like to express my gratitude towards my company guide Shri. P.V Rao who provided his valuable guidance and support during the internship. My increased spectrum of knowledge in this field is the result of his constant supervision and direction that has helped me to absorb relevant and high quality information. I would also like to thank my faculty guide Prof. Radha Krishna for his cooperative support during the project. His much-needed support and knowledge assistance available was indispensable. This acknowledgement would remain incomplete if I do not express my gratitude for all those people in VIMTA Labs Ltd. who have provided me all the necessary support in successful completion of this study.

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EXECUTIVE SUMMARYI, S Swarna Hasini of ICFAI Business School, Hyderabad had worked at VIMTA Labs Ltd. as a summer intern for a period of 14 weeks. Vimta Labs Ltd. is Indias leading contract research and testing organization. Established in 1984, it has an envious track record of serving several market leaders across the globe. It has its headquarters located in Hyderabad. As part of my internship, I worked on the study of HR Practices (Job Description, Recruitment, Selection and Compensation Management) in an Organization as it would help me in obtaining a detailed understanding of some of the HR practices followed in Vimta Labs Ltd. The report mainly includes a detailed study of the Job Description, the way Recruitment and Selection process is carried out at Vimta Labs Ltd., a brief study of Compensation Management followed by the organization. With respect to Job Description, the report emphasizes on what are the important sections should a Job Description have and the significance of each and every section. Then it covers various types of Recruitment processes which are followed by Vimta Labs Ltd. and the relative impact of each and every process followed by the Selection process in detail. The report also includes what are the operating principles which govern and guide the Compensation and Benefits policies and practices at Vimta Labs Ltd. Finally, in the findings section, after carrying out an analysis of all the types of Recruitment methods followed by the organization, Internal Search has been identified to be a unique one among the rest and has been found out to be the most productive recruitment process due to various advantages it carries with. I had used various Statistical quantitative techniques such as Regression Analysis, Correlation Analysis, and Trend Analysis for studying variations in the firms employment levels over the last few years. I had also used Rank Correlation and Chi Square tests in the study. I had conducted a sample survey of employee needs by interviewing 30 employees and found out that rewarding and recognizing positive results is an important factor in retaining employees. After a detailed analysis, I would recommend that the organization carry out a Cost Benefit Analysis for recruiting the best of the talent for different openings. The organization has to concentrate on the two most vital benefits namely health care coverage and compensatory leave. TABLE OF CONTENTSPage 4 of 60

AUTHORISATION.......................................................................................2 ACKNOWLEDGEMENTS..............................................................................3 EXECUTIVE SUMMARY...............................................................................4 1. INTRODUCTION.....................................................................................7 1.1 Company Background........................................................................................7 1.2 Purpose..............................................................................................................8 1.3 Objective of the study........................................................................................9 1.4 Limitations of the study......................................................................................9 1.5 Literature Review ..............................................................................................9 2. JOB DESCRIPTION................................................................................13 2.1 Steps to write an effective Job Description.......................................................14 2.2 Job description at VIMTA...................................................................................14 2.2.1 Job Identification...........................................................................................15 2.2.2 Job Summary.................................................................................................15 2.2.3 Responsibilities and Duties............................................................................15 2.2.4 Standards of Performance and Working Conditions.......................................16 2.2.5 Job Specification............................................................................................16 3. RECRUITMENT ....................................................................................16 3.1 Recruitment Function.......................................................................................16 3.2 Recruitment Purpose........................................................................................17 3.3 Recruitment Policy...........................................................................................18 3.4 Recruitment Process........................................................................................18 3.5 Recruitment Process at VIMTA..........................................................................19 3.5.1 Freshers/Entry Level Recruitment Process.....................................................20 3.5.2 Lateral/Experienced Professional Level Recruitment Process.........................20 3.5.2.1 Employee Referrals ...................................................................................21 3.5.2.2 Print Media.................................................................................................21 3.5.2.3 Web Media ................................................................................................21 3.5.2.4 Recruitment Agencies ...............................................................................22 3.6 Internal Search.................................................................................................22 4. SELECTION .........................................................................................23

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4.1 Deciding on the most appropriate selection methods.......................................23 4.2 Short-listing......................................................................................................23 4.3 Effectiveness of different selection methods....................................................24 4.4 Mode of Selection at VIMTA..............................................................................25 4.4.1 Open Advertisements....................................................................................26 4.4.2 Selection through Manpower / Placement Agencies / Head Hunters...............26 4.4.3 Internal Selections.........................................................................................27 4.4.4 Selection Process..........................................................................................27 4.4.4.1 Typical Selection Decision Process.............................................................28 4.4.4.2 Offer and Follow Up Process.......................................................................29 4.4.4.3 Background & Reference Checks................................................................29 4.4.4.4 On Boarding/Joining....................................................................................29 5. COMPENSATION MANAGEMENT............................................................30 5.1 Compensation Structure...................................................................................31 6. FINDINGS............................................................................................32 7. RECOMMENDATIONS............................................................................48 8. REFERENCES.......................................................................................50 9. ANNEXURE..........................................................................................51 9.1 Interview Assessment Sheet - 1........................................................................51 9.2 Interview Assessment Sheet - 2........................................................................52 9.3 Organization Structure.....................................................................................53 9.4 Interview Questionnaire ..................................................................................54 9.5 Sample Job Description....................................................................................56

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1. INTRODUCTION1.1 Company Background Vimta Labs Ltd. is Indias leading contract research and testing organization. Established in 1984, it has an envious track record of serving several market leaders across