SUMMER PROJECT“TO STUDY THE HR FUNCTIONS AT SHRIRAM TRANSPORT FINANCE CO. LTD.WITH SPECIAL REFERENCE TO TRAINING & DEVELOP...
SUMMER PROJECT ON“TO STUDY THE HR FUNCTIONS AT SHRIRAM TRANSPORT FINANCE CO. LTD.      WITH SPECIAL REFERENCE TO TRAINING ...
CERTIFICATE FORM THE ORGANIZATION[The manager/ authority under whom the project has been conducted will give the following...
CERTIFICATE FORM THE PROJECT GUIDE                                      CERTIFICATEIt is hereby certified that the Project...
AKNOWLEDGEMENTI express my profound sense of gratitude and sincere thanks to the Management of “SHRIRAMTRANSPORT FINANCE C...
DECLARATIONI wish to state that the work embodied in this Project titled “TO STUDY THE HRFUNCTIONS AT SHRIRAM TRANSPORT FI...
CHAPTER                     DESCRIPTION   PAGE NO.  NO.   1.     INTRODUCTION                8   2.     BACKGROUND        ...
CHAPTER – IINTRODUCTION       Introduction of HRM       Nature & Scope of HRM       Objective of HRM       Meaning of ...
INTRODUCTION OF HRMHuman resource management is the planning , organizing, directing, and controlling of theprocurement, d...
•It is a multidisciplinary activity, utilizing knowledge and inputs drawn from psychology, economics,etc.HUMAN RESOURCE MA...
MEANING & DEFINITION“HRM is a management function that helps manager’s recruit, select, train and develops members foran o...
CHAPTER – II                       BACKGROUNDHow are HR Functions carried in Shriram Transport Finance Co. Ltd.           ...
A BRIEF STUDY OF HR FUNCTIONS IN                  SHRIRAM TRANSPORT FINANCE COMPANY LIMITEDINTRODUCTION:-Human Resource is...
MANPOWER ANALYSIS:-1. Analyzing the current manpower inventory - Before forecasting of future manpower, the   current manp...
RECRUITMENT:-Recruitment refers to the process of attracting, screening, and selecting a qualified person for a Job.INTROD...
SELECTION PROCEDURE:-1. SCREENING OF APPLICATION :    All application received from various sources will be screened by th...
3. Make necessary reference/antecedents verifications whenever required.5. JOINING FORMALITIES:(a)   Employees joining sha...
PAY ROLL:-Payroll is the sum of all financial records of salaries for an employee, wages, bonuses and deductions.The prima...
 Further 7 days absent- abandonment letter. On issue of the abandonment letter the salary will not be processed further....
STAUTORY:-All legal benefits related to the employee as well as to the organization.   Provident fund (PF)   Employees s...
•   Madhya Pradesh Checking the P Tax deduction in the salary. Issuing of P Tax remittance cheques.                     ...
FULL & FINAL:-Full & Final is processed when an employee leaves the organization. It calculates leaves which are tobe in c...
PERFORMANCE APPRAISAL PROCESS:-Performance appraisal may be defined as any procedure that involves setting work standards,...
CHAPTER – IIITRAINING INTRODUCTION             Introduction to Training             Importance of Training              ...
MEANING OF TRAINING-:Training is about knowing where you stand (no matter how good or bad the current situationlooks) at p...
 Organization Climate – Training and Development helps building the positive perception and   feeling about the organizat...
A BRIEF STUDY OF TRAINING SYSTEM IN                    SHRIRAM TRANSPORT FINANCE COMPANY LIMITED                          ...
THE PROCESS OF TRAINING:-Course objectives for each kind of training are prepared and accordingly course contents aredesig...
REPORT ON TRAINING PROGRAMSS.NO    TARGET GROUP             NATURE OF TRAINING           NO. OF           NO. OF          ...
CHAPTER – IVMETHODOLOGY     Need & Benefits of Training     Training Methods     Training Process     Training Aids   ...
NEED OF TRAINING ARISES DUE TO VARIOUS REASONS Increased use of technology in production. Need for additional hands to c...
TRAINING PROCESS-                     Organizations Training Objectives                        Assessment of Training Need...
assessment occurs at two levels individual and group level. An individual needs training whenhis or her performance falls ...
objectives of evaluation are: To determine if they are accomplishing specific training objectives that is performance   d...
CHAPTER – VLIMITATIONS              35
LIMITATIONSEverything has some pros and cons and so certain limitations of this study were observed: Inability of the man...
ANNEXURE     Feed Back Questionnaire     Bibliography                                37
FEED BACK QUESTIONNAIRE                      SHRIRAM TRANSPORT FINANCE COMPANY LTD                                        ...
BIBLIOGRAPHY Employees of Shriram Transport Finance Co. Ltd. Website                    - www.stfc.in Website          ...
Upcoming SlideShare
Loading in...5
×

College report

788

Published on

Published in: Education, Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
788
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Transcript of "College report"

  1. 1. SUMMER PROJECT“TO STUDY THE HR FUNCTIONS AT SHRIRAM TRANSPORT FINANCE CO. LTD.WITH SPECIAL REFERENCE TO TRAINING & DEVELOPMENT” IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE COURSE MASTER OF MANAGEMENT STUDIES UNIVERSITYOF MUMBAI SUBMITTED BY Ms. MEENU RANA ROLL NO- 79 BATCH- 2011-13 SPECIALIZATION- HUMAN RESOURCE UNDER THE GUIDANCE OF “PROF. MUDASSAR KHAN” VISHWESHWAR EDUCATION SOCIETY’S INDIRA INSTITUTE OF BUSINESS MANAGEMENT SANPADA, NAVI MUMBAI 1
  2. 2. SUMMER PROJECT ON“TO STUDY THE HR FUNCTIONS AT SHRIRAM TRANSPORT FINANCE CO. LTD. WITH SPECIAL REFERENCE TO TRAINING & DEVELOPMENT” IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE COURSE MASTER OF MANAGEMENT STUDIES UNIVERSITY OF MUMBAI SUBMITTED BY Ms. MEENU RANA ROLL NO- 79 BATCH- 2011-13 SPECIALIZATION- HUMAN RESOURCE UNDER THE GUIDANCE OF “PROF. MUDASSAR KHAN” VISHWESHWAR EDUCATION SOCIETY’S INDIRA INSTITUTE OF BUSINESS MANAGEMENT SANPADA, NAVI MUMBAI 2
  3. 3. CERTIFICATE FORM THE ORGANIZATION[The manager/ authority under whom the project has been conducted will give the followingcertificate on company/ organization letter head.]I Mr/Ms------------------------ certify that Mr / Ms ---------------------------student of IndiraInstitute of Business Management (IIBM) Sanpada, has worked under my guidance for theproject titled--------------------------- from ------------ ----------to ------------------- and hassuccessfully completed the project work in partial fulfillment of requirement for thecompletion of MMS course as prescribed by University of Mumbai.This project report is a record of authentic work carried out by her.I has gone through theproject and it is to my satisfaction.Name of the guide DateDesignationCompany/organization 3
  4. 4. CERTIFICATE FORM THE PROJECT GUIDE CERTIFICATEIt is hereby certified that the Project Report on “TO STUDY THE HR FUNCTIONS ATSHRIRAM TRANSPORT FINANCE CO. LTD. WITH SPECIAL REFERENCE TOTRAINING & DEVELOPMENT” has been successfully completed in MMS semester II, Batch -2011-13, for the academic year by Ms. Meenu Rana under the guidance of Prof. Mudassar Khan.Prof. ____________ Dr. Ritu Bhattacharya(Project Guide) Director IIBM 4
  5. 5. AKNOWLEDGEMENTI express my profound sense of gratitude and sincere thanks to the Management of “SHRIRAMTRANSPORT FINANCE CO. LTD.” for having offered me an opportunity to work as a summerintern, on this project in their esteemed organization.I extend my special thanks to ”Mr. Raymond Rebello” who gave me a wonderful opportunity toselect and work on the topic and understand the challenges of Human Resource.I would also express my sincere thanks to our Director Dr. Ritu Bhattacharya, and Deputy DirectorCorporate Relations Prof. Imran for enabling me to undertake such excellent project, and to workunder such eminent person in the “SHRIRAM TRANSPORT FINANCE COMPANY”.I would like to express my gratitude to my Mentor / Guide Prof. Mudassar Khan for giving hervaluable guidance and inputs which help me in successful completion of the project.Ms. Meenu RanaMMS (Human Resource) 5
  6. 6. DECLARATIONI wish to state that the work embodied in this Project titled “TO STUDY THE HRFUNCTIONS AT SHRIRAM TRANSPORT FINANCE CO. LTD. WITH SPECIALREFERENCE TO TRAINING & DEVELOPMENT” forms my own contribution toManagement. Wherever references have been made to intellectual properties of any individual /Institution / Government / Private / Public Bodies / Universities, research paper, text books, referencebooks, research monographs, archives of newspapers, corporate, individuals, business / Governmentand any other source of intellectual properties viz., speeches, quotations, conference proceedings,extracts from the website, working paper, seminal work et al, they have been clearly indicated, dulyacknowledged and included in the Bibliography. _________________________ Signature of Candidate 6
  7. 7. CHAPTER DESCRIPTION PAGE NO. NO. 1. INTRODUCTION 8 2. BACKGROUND 12 3. MANPOWER ANALYSIS 14 4. RECRUITMENT 15 5. PAY ROLL 18 6. STATUTORY 19 7. FULL & FINAL 22 8. PERFORMANCE APPRAISAL 23 9. TRAINING 24 10. METHODOLOGY 30 11. LIMITATIONS 35 12. ANNEXURE 37 13. BIBLIOGRAPHY 39 7
  8. 8. CHAPTER – IINTRODUCTION  Introduction of HRM  Nature & Scope of HRM  Objective of HRM  Meaning of HRM 8
  9. 9. INTRODUCTION OF HRMHuman resource management is the planning , organizing, directing, and controlling of theprocurement, development, compensation, integration, maintenance and separation of humanresources to the end that individual, organizational, and social objective are accomplished.FEATURES OF HRM Increased competition Emphasis on quality in staff, goods/services Willingness to adopt to changing market needs Global MarketHUMAN RESOURCE MANAGEMENT: NATUREHuman Resource Management is a process of bringing people and organizations together so that thegoals of each are met. The various features of HRM include:•It is pervasive in nature as it is present in all enterprises.•It tries to help employees develop their potential fully.•It encourages employees to give their best to the organization.•It is all about people at work, both as individuals and groups.•It tries to put people on assigned jobs in order to produce good results.•It helps an organization meet its goals in the future by providing for competent and well-motivatedemployees.•It tries to build and maintain cordial relations between people working at various levels in theorganization. 9
  10. 10. •It is a multidisciplinary activity, utilizing knowledge and inputs drawn from psychology, economics,etc.HUMAN RESOURCE MANAGEMENT: SCOPEThe scope of HRM is very wide:1.Personnel aspect-This is concerned with manpower planning, recruitment, selection, placement,transfer, promotion, training and development, layoff and retrenchment, remuneration, incentives,productivity etc.2.Welfare aspect-It deals with working conditions and amenities such as canteens, crèches, rest andlunch rooms, housing, transport, medical assistance, education, health and safety, recreation facilities,etc.3.Industrial relations aspect-This covers union-management relations, joint consultation, andcollective bargaining, grievance and disciplinary procedures, settlement of disputes, etc.OBJECTIVES OF HRM Integration of HRM policy with business goals/objectives. Attainment of organizational objectives through human capital. Ensure human resources are employed cost-effectively. Make effective use of workforce potential. Match the workforce to the business needs. Maintain good employer / employee relations. 10
  11. 11. MEANING & DEFINITION“HRM is a management function that helps manager’s recruit, select, train and develops members foran organization obviously HRM is concerned with peoples dimension in organizations”HRM: - It is also a management function concerned with hiring motivating and maintaining people inan organization.It is a series of integrated decision that from the employment relationship; their quality contributes tothe ability of the organization and the employees to achieve their objective. Human resourcemanagement is concerned with the people dimension in management. Since every organization ismake up of people, acquiring their services, developing their skill, motivating them to higher level ofperformance and ensuring that they continue to maintain their commitment to the organization areessential to achieving organizational objectives. 11
  12. 12. CHAPTER – II BACKGROUNDHow are HR Functions carried in Shriram Transport Finance Co. Ltd. 12
  13. 13. A BRIEF STUDY OF HR FUNCTIONS IN SHRIRAM TRANSPORT FINANCE COMPANY LIMITEDINTRODUCTION:-Human Resource is an integral part of the company. It is an important aspect of corporateManagement. Keeping this in view, there have been established separate HR departments handling allthe functions of all the branches of Shriram all over the Country.1. Manpower Analysis2. Core HR3. Pay roll4. Statutory5. Full & Final6. Performance Appraisal ProcessTRAINING:-Training is process of learning a sequence of programmed behavior. It is an application of knowledge.It gives people awareness of rules and procedures to guide their behavior. It attempts to improve theirperformance on the current job or prepare them for intended job. 13
  14. 14. MANPOWER ANALYSIS:-1. Analyzing the current manpower inventory - Before forecasting of future manpower, the current manpower status has to be analyzed. For this the following things have to be noted: Number of departments. Number and quantity of such departments.2. Making future manpower forecasts - Once the factors affecting the future manpower forecasts are known, planning can be done for the future manpower requirements in several work units.3. Once the current inventory is compared with future forecasts, the employment programmes can be framed and developed accordingly, which will include recruitment, selection procedures and placement plans.4. Design training programmes.5. Training programmes depend upon the extent of improvement in technology and advancement to take place. It is also done to improve upon the skills, capabilities, knowledge of the workers.IMPORTANCE OF MANPOWER PLANNING1. Efficient utilization.2. Efficient management of personnel’s becomes an important function in the industrialization world of today.3. Higher productivity.4. Productivity level increases when resources are utilized in best possible manner. Higher productivity is a result of minimum wastage of time, money, efforts and energies. This is possible through the staffing and its related activities ( Performance appraisal, training and development, remuneration) 14
  15. 15. RECRUITMENT:-Recruitment refers to the process of attracting, screening, and selecting a qualified person for a Job.INTRODUCTION OF RECRUITMENTThe human resources are the most important assets of organization. The success or failure of anorganization is largely dependent on the caliber of the people working therein. Without positiveand creative contribution from people, organization can’t progress and prosper. In order to achievethe goals and perform the activities of an organization, therefore we need to recruit people withrequisite, skills, qualification and experience. While doing so we have to keep the present as wellas future requirements of the organization in mind.RECRUITMENT SOURCESThe sources of recruitment may be broadly divided into two categories: internal sources andexternal sources. On receipt of the Manpower Requisition (MPR) form HR department will initiateaction of sourcing the candidates as under:1. INTERNAL: References, Promotion etc.2. EXTERNAL: Job portals, Walk-ins, Print media, Consultancies etc. 15
  16. 16. SELECTION PROCEDURE:-1. SCREENING OF APPLICATION : All application received from various sources will be screened by the concerned departmentand HR based on the job description and specification and the applicant profile. Shorting of suitable candidates who should be called for test/interview shall be prepared.2. TEST : Depending on the requirement of the job, management conduct written/aptitude test. Qualifying criteria for the test will be determined by the management depending on the natureand requirement of the job.3. INTERVIEW: After clearing the test, candidate had to go through an HR round of interview followed by a final round taken by the HR Head.4. FINAL SELECTION AND APPOINTMENT: Selection of candidates will be strictly on the basis of merit and final round of interview. Appointment letter will be issued to the finally selected candidates after duly approved by theHR Head. Before letter of appointment is issued to candidates HR department will ensure the following:1. Check and verify all the personal details furnished by the candidates.2. Verify the certificates and other credentials. 16
  17. 17. 3. Make necessary reference/antecedents verifications whenever required.5. JOINING FORMALITIES:(a) Employees joining shall first report in the HR department will facilitate in completing thejoining formalities such as filling of joining report and other necessary forms.(b) HR department will ensure that the candidates will be allowed to join subject to their beingfound medically.5. INDUCTION:Induction training is a type of training given as an initial preparation upon taking up a post. Tohelp new people get to work initially after joining a firm, a brief programme of this training isdelivered to the new worker as a way to help integrate the new employee, both as a productive partof the business, and socially among other employees.An attempt is also made to introduce the individual to key employees and give an impression ofthe culture of the organization; it is a critical time for the employer to gain commitment from theemployee, and the latter to understand the expectations, targets and so on. The induction providesa really good opportunity to socialize and brief the newcomer on the companys overall strategy,performance standards, etc. 17
  18. 18. PAY ROLL:-Payroll is the sum of all financial records of salaries for an employee, wages, bonuses and deductions.The primary mission of the payroll department is to ensure that all employees are paid accurately andtimely with the correct withholdings and deductions, and to ensure the withholdings and deductionsare remitted in a timely manner.PAY ROLL PROCESS IN SHRIRAM: Entering data of the new employee in package masters (database) for generation of employee code, CTC, qualification & experience of the employee. Salary is processed with respect to the attendance of the employee. Salary is processed from 21st of the preceding month to the 20th of the current month. Pay file is maintained of each employee which consists of :Employees leave & loss of pay (only for employee on leave) is maintained in the pay file.TYPES OF LEAVE: Casual leave (CL) - 12CL’s per year, 1CL per month. Privilege leaves (PL) – 24PL’s per year. (Issued only after 240 paid days along with the confirmation of the employee.) 2PL’s per month (starting from new Calendar year).DIFFERENT CASES OF SEPARATION:1. IN CASE OF ABSENTEEISM: If the employee is absent for 7 days without Intimation -absenteeism letter is issued. 18
  19. 19.  Further 7 days absent- abandonment letter. On issue of the abandonment letter the salary will not be processed further.2. IN CASE OF RESIGNATION: Notice period of 30/90 days(90 days for Manager and above designation, 30 days for On If notice period is not served, basic salary should be payed in lieu of the notice pay.3. IN CASE OF TERMINATION: Termination is only done in case of fraud/fake documents/ bad behavior. Employer has to pay 1 month extra salary.4. IN CASE OF RETIREMENT: Retirement is at the age of 58yrs.5. IN CASE OF DEATH: Declaration of Good Health form is filled by all the employees at the time of joining. Sum of Rs. 10,000/- is given by the employer as Funeral expenses. Medical reimbursement for major illness (for those covered under ESIC).6. ON DUTY ACCIDENT Document’s required: death certificate, fir, postmortem Report, approval of Regional Branch Heads & Branch Head. Amount to be given to the nominee: 6 month average of the Gross salary (excluding incentives). 19
  20. 20. STAUTORY:-All legal benefits related to the employee as well as to the organization. Provident fund (PF) Employees state insurance corporation (ESIC) Professional tax (PT) Labour welfare fundPROVIDENT FUND  Co. Registered under employees provident fund a/c.  Employees contribution : 12% of the basic  Employers contribution : 13.61% of the basicMONTHLY RETURN  Issuing PF number for new employees.  New employee’s nomination form-2.  Form 13 processing for newly joined employee for sister concern & last co.  Form 19 & 10c preparation for settlement.ESIC (EMPLOYEE STATE INSURANCE CORPORATION)  Co. Registered under ESIC a/c.  Employees contribution : 1.75  Employers contribution : 4.75PROFESSIONAL TAX  States covered under P Tax: • Maharashtra • Andhra Pradesh • Karnataka • Gujarat • Kerala 20
  21. 21. • Madhya Pradesh Checking the P Tax deduction in the salary. Issuing of P Tax remittance cheques. 21
  22. 22. FULL & FINAL:-Full & Final is processed when an employee leaves the organization. It calculates leaves which are tobe in cashed, salary put on hold since resignation, number of working days, any allowances to bereimbursed, any other amount to be disbursed. Tax is deducted at source incase no appropriatedocuments are provided. RESIGNATION HR COORDINATOR FULL & FINAL 22
  23. 23. PERFORMANCE APPRAISAL PROCESS:-Performance appraisal may be defined as any procedure that involves setting work standards,assessing employee’s actual performance relative to these standards, and providing feedback tothe employee with the aim of motivating the worker to eliminate performance deficiencies orto continue to perform above par.Processes in performance appraisal contain three steps: Defining performance expectations, Appraising performance, and Providing feedback.First, defining performance expectation means making sure that job duties and standards areclear to all.Second, appraising performance means comparing employees’ actual performance to thestandards that has been set, which normally involves some type of rating form.Third, performance appraisal usually requires one or more feedback sessions to discussemployees’ performance and progress and making plans for any required development.PERFORMANCE APPRAISAL PROCESS IN SHRIRAM TRANSPORTFINANCE COMPANY180 DEGREE - PERFORMANCE APPRAISALThe employee share his work experiences including good and bad with the HR people, and the bossgives the feedback of the skills and attitude the employee carry. And then the data collected ismatched with the competency norms of the organization and a feedback is prepared about thatparticular employee. And with this feedback the management takes further actions for betterperformance of that employee. 23
  24. 24. CHAPTER – IIITRAINING INTRODUCTION  Introduction to Training  Importance of Training 24
  25. 25. MEANING OF TRAINING-:Training is about knowing where you stand (no matter how good or bad the current situationlooks) at present, and where you will be after some point of time. Training is about theacquisition of knowledge, skills, and abilities through professional development.IMPORTANCE OF TRAINING Optimum Utilization of Human Resources – Training and Development helps in optimizing the utilization of human resource that further helps the employee to achieve the organizational goals as well as their individual goals. Development of Human Resources – Training and Development helps to provide an opportunity and broad structure for the development of human resources’ technical and behavioral skills in an organization. It also helps the employees in attaining personal growth. Development of skills of employees – Training and Development helps in increasing the job knowledge and skills of employees at each level. It helps to expand the horizons of human intellect and an overall personality of the employees. Productivity – Training and Development helps in increasing the productivity of the employees that helps the organization further to achieve its long-term goal. Team Spirit – Training and Development helps in inculcating the sense of team work, team spirit, and inter-team collaborations. It helps in inculcating the zeal to learn within the employees. Organization Culture – Training and Development helps to develop and improve the organizational health culture and effectiveness. It helps in creating the learning culture within the organization. 25
  26. 26.  Organization Climate – Training and Development helps building the positive perception and feeling about the organization. The employees get these feelings from leaders, subordinates, and peers. Quality – Training and Development helps in improving upon the quality of work and work-life. Healthy work environment – Training and Development helps in creating the healthy working environment. It helps to build good employee, relationship so that individual goals aligns with organizational goal. Health and Safety – Training and Development helps in improving the health and safety of the organization thus preventing obsolescence. Morale – Training and Development helps in improving the morale of the work force. Image – Training and Development helps in creating a better corporate image. Profitability – Training and Development leads to improved profitability and more positive attitudes towards profit orientation.Training and Development aids in organizational development i.e. Organization gets moreeffective decision making and problem solving. It helps in understanding and carrying outorganizational policies.Training and Development helps in developing leadership skills, motivation, loyalty, betterattitudes, and other aspects that successful workers and managers usually display. 26
  27. 27. A BRIEF STUDY OF TRAINING SYSTEM IN SHRIRAM TRANSPORT FINANCE COMPANY LIMITED TRAINING POLICYINTRODUCTION:-Training is an integral part of human resource development of our company. It is an important aspectof corporate Management. Keeping this in view, we have established five regional Training Centre’s,one each in each region viz: Western Region (at Mumbai), Southern Region (at Chennai, Vijayawada& Bangalore), Eastern Region (at Kolkata), Northern Region (at Delhi), and Central region at Nagpur.The team of faculties consists of experienced ex-bankers who have experience of more than twodecades in the field of Banking Finance and Training. All the training centers are well equipped withAudio Visual training aids like LCD Projectors, White Boards, DVD presentations, Public Addresssystem etc. Through these four regional centers training is imparted to the employees covering all thebranches spread across the length and breadth of the country.THE PROCESS IDENTIFICATION:-Identification of training needs of employees done by Training Centers, in consultation with HRdepartment, Line Managers and Department Heads. The training department designs trainingprogrammes on monthly basis .A record of employees training is maintained on line. It givescomplete data regarding training of individual employees, showing the no. of employees trainedand no. of employees to be trained. After identification of employees to be trained, trainingletters are generated through system and sent to employees. A copy of list of trainees identifiedis also mailed to Branch Managers and SBUs for information. On obtaining confirmation fromemployees, accommodation for outstation trainees is arranged at Company’s guesthouse andHotel. 27
  28. 28. THE PROCESS OF TRAINING:-Course objectives for each kind of training are prepared and accordingly course contents aredesigned. A training kit is prepared containing general instructions and training materials,reference materials exercises etc. to be used in training.POST TRAINING EVALUATION:-At the end of each training program the performance of the trainees are evaluated to measurethe effectiveness of the training program. On conclusion of training, feedback reports areobtained from the trainees for ascertaining the usefulness of training, quality of materials,quality of faculty presentation and to invite suggestion for improvement. After analyzing thefeedback reports, a detailed Post Training Report is prepared incorporating the views andobservation of the faculties and suggestions for improving existing programs and designing newprograms as per needs. The report is submitted to Top Management for information and review.AWARDS AND RECOGNITION:-Best performers in the training are awarded 1st, 2nd & 3rd prizes based on post trainingevaluation. They are recognized by giving them appreciation certificates and giving them dueweight age at the time of appraisal for promotions / postingsPERFORMANCE DURING YEAR ENDING 31ST MARCH 2009:-During the year 124 Programs were conducted throughout India through regional trainingcenters covering all cadres of employees identified for training. A report is enclosed. 28
  29. 29. REPORT ON TRAINING PROGRAMSS.NO TARGET GROUP NATURE OF TRAINING NO. OF NO. OF NO, OF PROGRAMS EMPLOYEE MAN- S TRAINED DAYS1. Management Trainees Induction 23 746 1152. Jr./Asst Orientation 36 884 144 Executives/Executives (Back office & Admin)3. Jr./Sr.Product Orientation 61 1489 183 Executives4. Branch Managerial Effectiveness 4 94 12 Managers/Branch in charges 124 3213 454TotalNEW PROGRAMS:-Following three new programs were introduced to fulfill the needs of the organization One day programmes for Credit Admin Executives One Day programmes for Credit Risk Executives. One day programmes for newly recruited Product Managers. One day Training programme on Soft Skills for HR StaffINNOVATION IN THE FIELD OF TRAINING & DEVELOPMENTTRAINERS’ MEETAn All India Trainers’ Meet was convened in Chennai .It was presided over by our E.D.Mr.Umesh Revankar & Dr. Prasanna Bhatt, our corporate consultant for training &Development addressed the trainers .It served as a forum for evolving a uniform trainingprocess and mutual exchange of ideas, innovation and inputs to enhance the quality of training. 29
  30. 30. CHAPTER – IVMETHODOLOGY  Need & Benefits of Training  Training Methods  Training Process  Training Aids 30
  31. 31. NEED OF TRAINING ARISES DUE TO VARIOUS REASONS Increased use of technology in production. Need for additional hands to cope with an increases production of goods. Employment of new labour or inexperienced. To keep old employees abreast of changing methods, techniques.Evaluation of the effectiveness of training program is essential so as to check incessantimprovement in effectiveness and performance of various training program that directlyinfluences the task of every individual who contribute towards attainment of overallorganizational goals. Thus the training imparted to the employees is directly related to theperformance of those who underwent training and which reflects in their actual jobperformance.BENEFITS OF TRAINING-: Helps to remove performance deficiencies in employees It gives greater stability, flexibility and capacity for growth. Absenteeism, dissatisfaction, complaints can be reduced. Increase in productivity. Improvement in profitability. Positive attitude towards work and life. Improvement in job knowledge and skills. Improvement in work climate. Less Expensive. 31
  32. 32. TRAINING PROCESS- Organizations Training Objectives Assessment of Training Needs Establishment of Training goals Implementation of Training Programme Evaluation of ResultsVARIOUS STEPS INVOLVED IN TRAINING PROCESS CAN BE DESCRIBEDAS FOLLOWS-1. Organizational objectivesThe first step in the training process in an organization is the assessment of its objectives. Whatbusiness we are in? How do we want to deliver our products? Where do we want to be infuture? Only when these questions are answered can the organization asses the strengths andweaknesses of its human resources.2. Need assessmentTraining need assessment is the process used to determine if the training is necessary. Needs 32
  33. 33. assessment occurs at two levels individual and group level. An individual needs training whenhis or her performance falls short of standards that are performance deficiency. Needsassessment occurs at group level also. Any change in the organizational strategy requirestraining of group of employees.3. Establishment of Training goalsNext step to assess training and development is to measure the effectiveness of the programme.Goals must be tangible verifiable and measurable.4. Designing training programmeWhile designing the training programme some issues must be taken into consideration. Trainers Trainees Methods and techniques of training Conduct of training5. Implementation of Training ProgrammeThe programme implementation involves action on the following lines: Deciding the location and organizing training and other facilities. Scheduling the training programme. Conducting the programme. Monitoring the programme.6. Evaluation of the programmeEvaluation helps determine the results of the training and development programme. The main 33
  34. 34. objectives of evaluation are: To determine if they are accomplishing specific training objectives that is performance deficiencies. To ensure any changes in trainee’s capabilities are due to the programme and not due to other conditions. To explain programme failure if it occurs. To know whether the organization has benefited from the training programme.TRAINING AIDS:-The following Training Aids are generally used in industry. Black Board. White Board. Flip Chart. Audio visual Aids like LCD’s DVD presentation, power point presentation etc. Reading materials like manual circulars, instruction booklets etc. The above training aids are to be used selectively in different proportions depending upon the objective of a particular program. 34
  35. 35. CHAPTER – VLIMITATIONS 35
  36. 36. LIMITATIONSEverything has some pros and cons and so certain limitations of this study were observed: Inability of the management in communicating the vision and mission of the company clearly to the employees. Employee turnover. Huge space between what people say and what they actually do.Training has its own limitation especially measuring the impact of training cannot be done accurately.The evaluation test given at the end of the training is only a measure of short term memory. It cannotbe taken as a final impact of Training.In case of Training of soft skills like:- Communication. Leadership In work etc the real impact of training cannot be measured immediately, and quantitatively, but it can be indirectly measured by observing the result in the work situation over a period of time.CONCLUSIONHR functions, if implemented efficiently, helps in improving the productivity of employeesand utilizes their expertise in meeting the company goals.Training is an ongoing process it can be made effective only by giving training periodicallyrevising due course and content and objective continuously according to the changingcorporate needs methodology, inputs, duration etc cannot be standardize for any institution. The training process in STFC is very much effective. Training is being provided to the employees on regular basis. Training provided to the employees has shown significant changes in their performance. It also facilitates the employees to rake higher responsibility. 36
  37. 37. ANNEXURE  Feed Back Questionnaire  Bibliography 37
  38. 38. FEED BACK QUESTIONNAIRE SHRIRAM TRANSPORT FINANCE COMPANY LTD MUMBAI TRAINEES’ FEEDBACKName of Training Program: …….....Period: From ……….. To ……….Put Tick ( ) in the suitable box provided1) Training Hall Facilitieso Excellento Satisfactoryo Poor2) Duration Of Training Programmeo Shorto Just Adequateo Long3) Study Materials areo More than Informativeo Usefulo Not Useful4) Lecture Session wereo Excellento Satisfactoryo Not Satisfactory5) Workshops/Exercises wereo Useful in Understanding the conceptso Not Useful at all6) Comments/Views/Opinion on faculty Presentation 38
  39. 39. BIBLIOGRAPHY Employees of Shriram Transport Finance Co. Ltd. Website - www.stfc.in Website - www.naukri.com Website - www.managementstudyguide.com Website - www.wikipedia.org Website - www.citehr.com Website - www.traininganddevelopment.naukrihub.com Website - www.scribd.com 39

×