STUDY ON EMPLOYEE SATISFACTION ON THE PROCESS OF RECRUITMENT AND SELECTION OF INDEPENDENT FINANCIAL ADVISOR & INVESTMENT ASSOCIATE AT ICICI SECURITIES

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PROJECT REPORT
SUMMER TRAINING
ON
“STUDY ON EMPLOYEE SATISFACTION ON THE PROCESS
OF RECRUITMENT AND SELECTION OF INDEPENDENT
FINANCIAL ADVISOR & INVESTMENT ASSOCIATE AT
ICICI SECURITIES”
FOR THE PARTIAL FULFILLMENT OF THE REQUIREMENT
FOR THE AWARD OF
BACHELOR OF COMMERCE (HONS.)
UNDER THE SUPERVISION OF: UNDER THE SUPERVISION OF:
Faculty Supervisor: Industry Guide:
Dr. Rajeev Sharma Mr. Baqer Menhdi
SUBMITTED BY
Anurag Singh
B.Com (Hons.) (2016)
Enrollment No.20160618
INSTITUTE OF BUSINESS MANAGEMENT,
MANGALAYATAN UNIVERSITY,
33rd
KM STONE, ALIGARH-MATHURA HIGHWAY

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Date- 30-07-2018
TO WHOMSOEVER IT MAY CONCERN
This is to certify that Mr. Anurag Singh was undergo a 6 weeks training programme at ICICI
SECURITIES LTD , Lucknow office from the duration 14th
june 2018 to 28th
july 2018 . He has
worked under the guidance of Mr. Baqer Menhdi .
He has successfully completed his Project with ICICI SECURITIES LTD .
We wish him all the best in his future endeavours .
Regards
Shweta More
Chief Manager, HR

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CERTIFICATE OF THE SUPERVISOR
This is to certify that the work entitled “RECRUITMENT OF INDEPENDENT FINANCIAL
ADVISOR & INVESTMENT ASSOCIATE AT ICICI SECURITIES” is a piece of SIP
research work done by Mr. Anurag Singh under my guidance and supervision for the degree of
B.Com. from Mangalayatan university Aligarh. I certify that the candidate has put 45 days in
industry training at ICICI Securities.
To the best of knowledge and belief the Report:
(i) Embodies the work of the candidate himself.
(ii) Has duly been completed.
(iii) Fulfills the requirement of the Ordinance relating to the B.COM degree of the
University and
(iv) Up to the standard both in respect of contents and language for being referred to
the examiner.
Signature of the Supervisor
Date……………….………….

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ACKNOWLEDGEMENT
This Successful project report has been made possible through the direct co-operation and
guidance of various people for whom I wish to express my appreciation and gratitude.
First of all, I would like to express my sincere gratitude to our department that has given me an
opportunity and special thanks to my guide DR. RAJEEV SHARMA who have always provided
me guideline whenever needed.
I extend my heartiest thanks to Mr. Baqer Menhdi (CHANNEL MANAGER OF ICICI
SECURITIES) who have given me an opportunity to work under him and help me to complete
my project in ICICI SECURITIES.
I would like to acknowledge the advice and suggestion of all the staff member of ICICI
SECURITIES who have directly or indirectly helped me in the project. Last but not in least I offer
my sincere thanks to my parents, cousin and friend for their encouragement.
THANKING YOU
ANURAG SINGH

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PREFACE
B.COM (HONS.) is a stepping-stone to the management carrier and to develop good
management skills. Summer internship is an essential and Important part of curriculum of
B.COM (HONS.) program because along with the theoretical aspects, practical training is
also very important.
Summer training is an exposure to cooperate environment and help B.COM (HONS.)
students to get acquainted with original norms, procedures, practices ethics, and culture. It
also gives an insight of actual functioning of the organization. It helps the student to
understand and to cooperate with theoretical aspect with practical reality.
The attractive feature of the B.COM (HONS.) course is that along with theory we also get
to have the exposure of the practical environment. This is through the summer training that
we have to undergo after the completion of Second year. The entire journey from the very
idea of this project report to reality would not have been possible without guidance and
support of many people.
The study was confined geographically to Kanpur and Lucknow area.
The data source was given to me by the company.
The special task was assigned to me to recruit 10 IFA & IA.
The Mutual Fund Industry is in the growing stage in India, which is evident from of mutual
funds offered by the banks, financial institution & private Companies.

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DECLARATION
I hereby declare that study of “STUDY ON EMPLOYEE SATISFACTION ON THE
PROCESS OF RECRUITMENT AND SELECTION OF INDEPENDENT FINANCIAL
ADVISOR & INVESTMENT ASSOCIATE AT ICICI SECURITIES.” submitted in the
partial fulfillment of the requirement of Bachelors of Commerce (Hons.) and has not been
submitted either partly or fully to any other institute forward or any degree.
I hereby declare that the contents of this report are true and original to best of my knowledge.
Anurag Singh
20160618
B.Com (Hons.)

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Table of content
S.no. Topic Page No.
Chapter – 1
Introduction
1.1 Introduction of organization
1.2 Area of study
1.3 Problem identification
1.4 Review of literature
1.5 Objectives of study
9-12
13-14
14
14-15
16
Chapter – 2 Research Methodology 17-18
Chapter – 3 Data Analysis 19-35
Chapter – 4 Findings 36-37
Chapter – 5 Conclusion 38-39
Chapter – 6 Implications 40-41
Chapter – 7 Recommendations 42-43
Chapter – 8 Limitation of research 44-45
Chapter - 9 Overall Experience 46-49
Chapter - 10 Bibliography 50-51
Chapter - 11 Appendix 52-55
Chapter - 12 Weekly Progress Report 56-62

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EXECUTIVE SUMMARY
It presents an introduction to the Summer Internship Project Report and throws light on the
Recruitment of Independent Financial Advisors & Investment Associate. Further the chapter gives
an overview of the methods of recruitment & also deals with the significance of IFA and IA in
ICICI Securities. Where the report also includes the measurement of the employee’s satisfaction
towards the recruitment process.
Also presents an overview of the significance of IFA and IA in bringing in new business for
ICICI SECURITIES and the services of the ICICI SECURITIES & report also explains the
satisfaction level among employees with regard to recruitment of IFA and IA.
All the constructs are exhibited below with their dimensions and shows the overview of pattern of
analysis which is adopted, data collection method, sampling details, research instrument,
construction of questionnaire, etc.
And also summarizes the main findings and conclusions of the study. Moreover, in the light of
these findings, appropriate suggestions have also been worked out. The references from which the
data were collected. And also shows the various name of websites from which the data were
collected.

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CHAPTER 1 - INTRODUCTION

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INTRODUCTION
1.1) Introduction to the Organization
ICICI Securities Ltd is a firm that offers a range of financial investment services which include
institutional broking, private wealth management, retail broking, financial product distribution and
investment banking.
ICICI Securities targets to 'Create Informed Access to the Wealth of the Nation' for its
diversified set of clients that includes corporates, financial institutions, high net-worth individuals
and retail investors.
Headquartered in Mumbai, ICICI Securities operates in 66 towns in India and has a global
presence in the form of offices in Singapore and New York.
ICICI Securities, the wholly owned US subsidiary of the company is a member of the Financial
Industry Regulatory Authority/Securities Investors Protection Corporation. ICICI Securities’
activities include dealing in financial securities and corporate advisory services in the US.
ICICI Securities Inc. is also registered with the Monetary Authority of Singapore and operates a
branch office in Singapore too, hence proving its global presence.
The products one can buy and sell with the help of ICICI direct portal are:
• Equity
• Mutual Funds
• Life Insurance
• General Insurance
• Loans
• IPO
• Currency
• Fixed Deposits
• National Pension System

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Key facts about ICICI Securities
• Founded – 1995
• Industry – Financial Institution
• Headquarters – Mumbai, India
• No. of locations in India – 66
• Parent Group – ICICI Bank
• Key People – Shilpa Kumar (CEO)
AWARDS AND RECOGNITIONS
• ICICI Securities bagged the Award for Outstanding Social Impacts at the Global Sustainability
Leadership Awards 2014.
• ICICI Securities won the Outlook Smart Use Technology E Retailer of the year 2013 conferred
by FIHL in association with HomeShop18.com.
• ICICI Securities won the 'BSE IPF D&B Equity Broking Awards 2012' under two categories:
• Best Equity Broking House - Cash Segment
• Largest E-Broking House
• ICICI Securities was awarded the Asia money `Best Domestic Equity House' for 2012.
• ICICI Securities won the Prime Database League Tables 2007 for money raised through
IPOs/FPOs.
• ICICI Securities recently bagged the Innovation Award for Oracle Fusion Middleware.
OTHER PLAYERS IN COMPETITION TO ICICI SECURITIES:
Sharekhan:
Incorporated in Feb 2000, Sharekhan is India’s 2nd largest stock broker providing brokerage
services through its online trading portal Sharekhan.com and 1950 share shops which includes
branches & franchises situated in around 575 cities across India. They are one of the full service
broker and provide various other services like asset management etc.

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HDFC Security:
They are yet another large broking house in India with their bank branches, they have a large
network which is only smaller than ICICI. They have a vast presence in smaller towns
Kotak Security:
They are a well know name in Financial services, with their branches in developed cities they
are able to capture market share in developed cities. The online services are competitive but
brokerage is charged but them is pretty high.
Motilal Oswal:
Another decent brokerage firm functioning in India. They too are full service broker providing
financial service to the clients. They have decent financial advisors that provide extensive
market research so that one can invest in the financial instrument best suited to him.
Karvy:
One of the old broking houses functioning in the country. They have a very good reputation but
their online service is not up to the mark. The firm is improving their online portal and have
competitive brokerage too.
Leadership team of ICICI Securities
Designation Name
Executive Director Ajay Saraf
Non-Executive Director Anup Bagchi
Independent Director Ashvin Parekh
Chief Financial Official Harvinder Jaspal
Non-Executive Director Pramod Rao
Company Secretary & Compliance Officer Raju Nanwani
Secretary Raju Nanwani
Chief Executive Officer Shilpa Kumar
Managing Director & CEO Shilpa Kumar
Independent Director Subrata Mukherji
Independent Director Vijay Laxmi Iyer
Chairman Vinod Kumar Dhall

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1.2) Area of Study
Recruitment
Recruitment is a process of searching candidates for employment and stimulating them to apply
for jobs in the organization. It is a process, of finding and attracting capable applicant for
employment. The process begins when new recruits are sought and ends when their applications
are submitted. In short, it can be said that recruitment is a linking function between jobs and job
seekers.
Purpose and Importance of Recruitment
Success begins with quality hiring. Getting an appropriate person for a job at the right time helps
in building a good team and it is only possible with effective recruitment. Once the required
numbers and kind if human resources are determined, the Human Resource Management Team
need to find the sources where human resources are available and also find the means and ways of
attracting them towards the organization before selecting suitable for jobs. The toughest task is to
get the right type of employees these days.
The basic goal of recruitment is to locate, at the least cost, qualified applicants who will remain
with the organization.
The three important elements of recruitment are
➢ Potential suitable employees
Recruitment involves informing people about the vacancy. The process of recruitment also
involves attracting those candidates that meet the general criteria of the organization and
criteria qualified for vacancy.
➢ Motivation
During recruitment, a person should feel motivated to go further than just take note of the
advertisement or information. To be successful, the person should be motivated to take the
necessary action that lead to employment.
➢ Recruitment and selection
Because the organization has vacancy, the recruitment originates from the organization.
The applicant has to accept the employment before the recruitment process can be seen as
successful and complete.
It requires appropriate planning and careful consideration to recruit successfully. To fill a
vacant position, one has an opportunity to reflect on the work which has to be done. Like
as, the need for change and what new skills might be required for future.
During recruitment planning, company needs to consider that how various recruitment and
selection tasks will take place. Recruitment process starts when vacancies are available

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and then the management decided how to fill these positions through various recruitment
processes. Recruitment just involves making a pool of candidates whereas, later comes
selection process which is concerned with the selection of best among the interested
candidates.
1.3) Problem Identification
I was asked by my company supervisor “Mr. Baqer Menhdi” to review the literature and
regarding the “Recruitment and Selection Process of Independent Financial Advisor and
Investment Associate” and after viewing the literature and previous company data, with
consultation of my faculty supervisor, I was suggested to conduct a study on Recruitment
and Selection Process of ICICI Securities of Independent Financial Advisor and
Investment Associate” and choose this as an area of my research.
1.4) Review of Literature
Most employers recognize the fact that there staff is their greatest asset, and the right recruitment
and induction process are vital in insuring that the new employee becomes effective in the shortest
time. The success of an organization depends on having a right number of staff, with the right
skills and abilities. Organizations may have a dedicated personnel/ human resource function
overseeing this process, or they devolve these responsibilities to the line manager and supervisor.
Many people may be involved and all should be aware of the principles f good practice. Even it is
essential to involve other in the task of recruitment and selection.
➢ Miss. Ambika Verma (2009)- In their survey on the research of use of technologies in
recruiting, screening and selection process for job candidates conducted in dimension
group found that most organizations implemented technology based recruitment and
selection tools to improve efficiency, reduce costs and expand the applicant pool.
➢ The meta analysis of the research conducted by Chapman, Uggersler, Carrol, Pisaentin
and Jones (2005) concluded that timely responses from HR Managers were linked to
greater applicant, attraction to a job with an organization.
➢ According to Robins, In his study revealed that, ‘The ideal recruitment effort will attract
the large number of qualified applicant who will take the job if it is offered. So recruiting
is a process of discovering a potential candidate for actual organizational vacancies. ‘

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➢ Robert (2005) in his study titled, ‘Strategic HR Review, 2004, states that successful
recruitment and selection can improve organization’s performance.’
➢ Bowen, Et Al (1991) in his study examined, ‘ that integrated recruitment and selection
process helps recruiters to choose the candidate fit the characteristics of an organization
culture’.
➢ Beardwell, Et Al (2003) in his study examined that, ‘ selection is carried out by
organizations as a means of candidate potential and actual performance and the intake of
employees will make the most appropriate contribution to organization – now and in
future.’

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1.5) Objectives of Study
➢ To study and analyse the recruitment and selection of Independent Financial Advisor and
Investment Associate at ICICI Securities.
➢ To study the sources of recruitment of IFA and IA and importance of IFA and IA to the
organization.
➢ To analyse the satisfactory level of the employees who are responsible for the recruitment
and selection of IFA and IA.

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CHAPTER 2 – RESEARCH METHODOLOGY

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Research Methodology
➢ Research Design
Project report is Descriptive in nature. As it presents a detailed structure on recruitment
and selection of Independent Financial Advisor and Investment Advisor, its sources of
recruitment, importance of Independent Financial Advisor and Investment Associate.
➢ Sample Size
In this study, 50 employees of ICICI Securities, (Kanpur Branch) are taken as sample.
➢ Sampling Technique
Process of Simple Random Sampling has been adopted to conduct the study.
➢ Data Sources
Both primary and secondary sources are taken in this study.
• Primary Sources
Primary data has been collected from various primary sources of data collection, like
Questionnaire, Observance during Internship Tenure. Questionnaire were used to collect
primary data from employees, for this study.
• Secondary Sources
Secondary data is collected from various journals, magazines, online research papers and
articles.
➢ Techniques
Simple Random Sampling, Average and Percentile Methods, Bar Graphs, Table,
Flowcharts.

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CHAPTER 3- DATA ANALYSIS

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Data Analysis
From the company I received different types of old data, regarding the recruitment and selection
process of Independent Financial Advisor and Investment Associate and this data was found to be
meaningful to conduct my study.
Recruitment and Selection Process followed at ICICI Securities for
Independent Financial Advisor and Investment Associate.
Independent Financial Associate and Investment Associate are not direct employees of the
organization. But, they are involved in bringing in the business for the ICICI Securities. The
process which is followed for recruitment and selection is very small.
Recruitment Process Followed at ICICI Securities for IFA and IA
Step 1)
Data of agents who have received new and old licensing through NISM Examination (National
Institute of Securities Market) is collected from the official website of Associations of Mutual
Funds of India www.amfiindia.com.
Step 2)
All sorts of data are received on the website, therefore data based on the requirement, like area,
license has not expired, etc… criteria are decided and based on it, data is derived and fed on the
computer systems on MS Excel.
Step 3)
Candidates have already qualified NISM Examination and those having registration number from
SEBI are shortlisted to approach. As they have already qualified the examination by NISM, so
they don’t need to clear any further examination. As they have prior knowledge required to act as
an IFA and IA.

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Selection process followed at ICICI Securities for Independent Financial
Advisor and Investment Associate
Step 1)
The shortlisted candidates are approached via call, mail and personal messaging.
Step 2)
Candidates are explained on call about various products of ICICI Securities and services offered
by ICICI Securities. Since, they need to bring in business for ICICI through selling those products
and marketing the services.
Step 3)
It is checked if Independent Financial Advisors and Investment Associate are already working
with another organization or they are working independently. And, if they are interested to work
with ICICI Securities, based on their response they are called for a Face to Face Meeting.
Step 4)
When the candidate approaches, they are explained about various policies and services of ICICI.
When they are satisfied and want to join ICICI, they are asked to submit their documents for the
final step.
Step 5)
Candidates after submitting their documents and their verification, they are made to fill a form and
a registration payment of Rs. 250/-.
Step 6)
After completion of documentation and registration they are provided with an Agent Code of ICICI
Securities within 7-10 days.
The above process shows that ICICI Securities used verified data to recruit Independent Financial
Associate and Investment Associate. At times, the head office of ICICI Securities sends data to
generate leads for recruitment of IFA and IA. This shows that ICICI is very cautious about the
candidates they are choosing to work with them. And, based on if they are willing to work as IFA
or IA they are provided with a training of how to use ICICI Securities portal, i.e.
www.icicidirect.com
This portal is of great use to them as they can sell securities, mutual funds, perform transactions,
get update about his client details, etc… Therefore, it is crucial for them to know how to use the
portal.

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Sources of Recruitment of IFA & IA
➢ Personal references -
At times the employees of the organization can recruit their relatives, friends as Investment
Associates. Personal direct references of Independent Financial Advisor and Investment
Associate can share or refer their friends to join in the organization.
➢ Advertisements through social network sites
Through advertisements on Facebook page, and on official website of ICICI Securities
helps in bringing and creating a pool of candidates, for the organization.
➢ Data from website
The website of Association of Mutual Funds of India, www.amfiindia.com and
www.advisorkhoj.com provides all sort of rough data to the employees of ICICI Securities,
from there the employees can prepare a fair data of potential candidates and later recruit
and select them.
➢ Data through Headquarters
The headquarters of ICICI Securities on regular basis keeps sending the fresh data of
potential IFA and IA’s who have cleared examinations and have their registration numbers.
It makes the work easy of employees to connect with people who are potential and are
willing to work as Independent Financial Advisor and Independent Associates.
For every organization, the need of manpower is different and for different manpower
needs, the sources of recruitment are also different. Same is with ICICI Securities, they use
sources like campus placements and placements through various employment exchanges
and consultancies to recruit managers, sales person, customer representatives, etc…But to
recruit IA and IFA, the sources of recruitment is also less and the procedure followed is
not very comprehensive or complex.

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Who is an Independent Financial Advisor?
An Independent Financial Advisor or known as IFA’s are the professionals who offer and help
clients on financial matters and recommend suitable financial products from various financial
markets. They can work in association with several companies and can even work independently.
Qualification to become an Independent Financial Advisor
To become an Independent financial advisor, a person needs to qualify National Institute of
Securities Markets Investment Advisor Part 1 & 2 exams.
After qualifying the exam, the person is eligible to apply for a registration number. He/She has to
apply to the Securities and Exchange Board of India for registration. After getting the registration
number from the Securities and Exchange Board of India one can start his/her advisory services.
Products which an Independent Financial Advisor are licensed to sell are-
➢ Mutual Funds
➢ IPO
➢ Corporate Bonds
➢ Loans & Insurance
Who is an Investment Associate?
An Investment Associate is similar to Independent Financial Advisor, even his basic work is to
sell the financial and investment products to customers, the only difference between an
Independent Financial Advisor and Investment Associate. An Investment Associate can offer
range of financial products to customers like IPO, Bonds, Fixed Deposits, etc.
Qualification to become an Independent Financial Advisor
• Knowledge & exposure to financial markets over the last 3 years
• Educational Qualification - Min 10+2 passed for Sub broker and Min 10th for Authorized
Person
• Ability to leverage on local relationship & develop business
• Possesses prescribed minimum Infrastructure with good connectivity

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Products which an Independent Financial Advisor are licensed to sell are-
➢ Equity
➢ IPO
➢ Bonds
➢ Loans
➢ Insurance
Opportunities for Independent Financial Advisor & Investment Associate
➢ Flexible working environment
➢ Be your own boss
➢ Unlimited earning potential
➢ To be a part of a world-class-team
Role of Independent Financial Advisors & Investment Associates
➢ Identify Future Clients
➢ Making appointments
➢ Conduct financial review meetings with prospects/clients.
➢ Close sales
➢ Get referrals
➢ Provide service to clients
➢ Follows internal sales & reporting system
Responsibilities of Independent Financial Advisors and Investment Associate
➢ Firstly, an advisor/associate has to make a list of 50 people that he/she knows.
➢ Then the advisors/associate make a call to those clients and tries to fix an appointment for
the completing the monthly targets
➢ When an appointment is fixed, the advisor/associate meets the customer & tries to sell the
ICICI Securities product.
➢ After that the advisor/associate asks for reference of maximum number of people from the
client.
➢ The reference is asked in context to make future calls and whole procedure is repeated
again.

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Most preferred profiles to Recruit as Independent Financial Advisors &
Investment Associate
➢ Income tax consultant
➢ Chartered accountant
➢ Sales personnel’s working in
1. Automobile dealership
2.Credit card co.
3.Telecom
4.Mutual fund
➢ Housewives
➢ Teachers
➢ MBA in finance
➢ Businessmen
➢ Accountants
➢ Advisors of other insurance companies
➢ Agent of LIC

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The analysis and findings of the study are as follows-
1) Employee satisfaction with the target given for recruiting IFA and IA at ICICI Securities?
a) Strongly Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
Category Frequency Percentages
Strongly Satisfied 12 24%
Satisfied 20 40%
Neutral 8 16%
Dissatisfied 10 20%
Total 50 100%
Interpretation – As indicated in the above-mentioned table majority (20) respondents have
provided their feedback as Satisfied. Therefore, based on this feedback it can be said that
employees of ICICI Securities are satisfied with the target given to them for recruiting Independent
Financial Advisor and Investment Associate.
0
5
10
15
20
25
Strongly Satisfied Satisfied Neutral Dissatisfied

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2) Employee satisfaction with the data of agents received through AMFI?
b) Satisfied
c) Neutral
d) Dissatisfied
Satisfied 14 28%
Neutral 10 20%
Dissatisfied 20 40%
Total 50 100%
provided their feedback as Dissatisfied. Therefore, based on this feedback it can be said that
employees of ICICI Securities are dissatisfied with the data of agents received through AMFI for
recruiting Independent Financial Advisor and Investment Associate.
0
5
10
15
20
25

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3) Employee satisfaction with the data of agents received from headquarters of ICICI Securities
for lead generation?
b) Satisfied
c) Neutral
d) Dissatisfied
Satisfied 10 20%
Neutral 6 12%
Dissatisfied 4 8%
Total 50 100%
provided their feedback as Strongly Satisfied. Therefore, based on this feedback it can be said that
employees of ICICI Securities Are Strongly satisfied with the data of agents received through
headquarter for recruiting Independent Financial Advisor and Investment Associate.
0
5
10
15
20
25
30
35

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4) Employee satisfaction regarding the criteria which is chosen to recruit Independent Financial
advisors & Investment Associates?
b) Satisfied
c) Neutral
d) Dissatisfied
Satisfied 24 48%
Neutral 8 16%
Dissatisfied 6 12%
Total 50 100%
employees of ICICI Securities are satisfied with the criteria which is chosen to recruit Independent
0
5
10
15
20
25
30

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5) Employee satisfaction with the overall recruitment process for Independent Financial advisors
& Investment Associates?
b) Satisfied
c) Neutral
d) Dissatisfied
Satisfied 12 24%
Neutral 6 12%
Dissatisfied 12 24%
Total 50 100%
Interpretation– As indicated in the above-mentioned table majority (20) respondents have
employees of ICICI Securities Are Strongly satisfied with the overall recruitment process for
recruiting Independent Financial Advisor and Investment Associate.
0
5
10
15
20
25

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6) Employee satisfaction regarding the personal meeting for selecting Independent Financial
b) Satisfied
c) Neutral
d) Dissatisfied
Satisfied 12 24%
Neutral 8 16%
Dissatisfied 26 52%
Total 50 100%
provided their feedback as Dissatisfied. Therefore, based on this feedback it can be said that
employees of ICICI Securities are dissatisfied with the personal meeting for selecting Independent
Financial advisors & Investment Associates.
0
5
10
15
20
25
30

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7) Employee satisfaction with the documentation process for recruiting Independent Financial
b) Satisfied
c) Neutral
d) Dissatisfied
Satisfied 20 40%
Neutral 6 12%
Dissatisfied 14 28%
Total 50 100%
employees of ICICI Securities are satisfied with the documentation process for recruiting
Independent Financial Advisor and Investment Associate.
0
5
10
15
20
25

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8) Employee satisfaction regarding the training given to Independent Financial advisors &
Investment Associates for using the Icicidirect.com?
b) Satisfied
c) Neutral
d) Dissatisfied
Satisfied 28 56%
Neutral 6 12%
Dissatisfied 4 8%
Total 50 100%
employees of ICICI Securities are satisfied regarding the training given to Independent Financial
advisors & Investment Associates for using the Icicidirect.com
0
5
10
15
20
25
30

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9) Employee satisfaction to utilize the internal sources or primary sources of recruitment?
b) Satisfied
c) Neutral
d) Dissatisfied
Satisfied 10 20%
Neutral 15 30%
Dissatisfied 5 10%
Total 50 100%
Interpretation - As indicated in the above-mentioned table majority (20) respondents have
employees of ICICI Securities are strongly satisfied regarding company’s efforts in utilizing the
internal sources of recruitment.
0
5
10
15
20
25

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10) Employee satisfaction with the overall selection process of ICICI Securities?
b) Satisfied
c) Neutral
d) Dissatisfied
Satisfied 30 60%
Neutral 3 6%
Dissatisfied 2 4%
Total 50 100%
Interpretation As indicated in the above-mentioned table majority (30) respondents have
employees of ICICI Securities are satisfied with the company’s selection process.
0
5
10
15
20
25
30
35

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CHAPTER 4 - FINDINGS

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Findings
• The process of recruitment and selection followed at ICICI Securities is satisfactory. As
they are satisfied with the data that is provided to them for recruiting candidates, who can
be approached. Since the process of recruitment and selection is not tough and
comprehensive, therefore recruiting Independent Financial Advisory and Investment
Associate is easy.
• The employees are satisfied with the training that is provided to the new selected
Independent Financial Advisor and Investment Associate. But, there should be training
regarding their recruitment to the existing employees.
• The basis of selection that is chosen for differentiating between Independent Financial
Associate and Investment Associate is done through the examination that is conducted by
the NCFM, it reduces the labour of the employees of categorising between both of them.
• The target provided to the employees of attracting both IA and IFA is an additional work
provided to them and the sources to recruit them is less. As the data which is provided from
various sites is very comprehensive and it requires further work to filter the data and use
it, secondly the advertisement displayed for Independent Financial Advisor and Investment
Associate is not of much relevance as people work on freelance basis. And personal
connection is more important with the candidates rather than just displaying
advertisements.
• The process of recruiting and selection is easy, the only step which elongates the process
is the background check, of the selected candidate as it can’t be done on call rather visiting
the candidate’s home and checking the physical existence of person’s home and
verification of no criminal background is there, all this requires time and extra efforts,
therefore some changes on this part is a must.

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CHAPTER 5 - CONCLUSION

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Conclusion
Employees of an organization are an essential part of a place’s working. As its due to their efforts
that a workplace becomes a constructive place to work and earn. Therefore, for an organization
recruiting and selecting their employees in a rightful manner is very important. And, often it’s a
time taking process. As multiple rounds are required for recruitment and final selection, then
training makes the process complicated and elongates the process.
In case of ICICI Securities the work is comparatively easier. As the organization is more into
selling mutual funds, insurance, equity, etc… Apart from their employees involved in core
management of the office like managers, executives which are placed through campus placements
and various recruitment agencies. There is also requirement of Independent Financial Advisor and
Investment Associate who act as business developer for the organization, by selling and promoting
the products of ICICI Securities. Since they work as freelancers for the organization the criteria
and process for their recruitment is easy and does not require much efforts from the side of existing
employees who are given a target to recruit them. Though the process is not tough but, attracting
the candidates yet becomes a tough job in a market full of competition.
The employees need to work on the data that has been provided to them by either headquarters or
various sites, reach out to them, since the data provided is of only those candidates who have
qualified the examination of SEBI and have registration numbers, therefore no more technical
round or examination is required, attracting them and convincing them to work with the
organization on commission basis becomes tough, as rates of commission provided is competitive.
Secondly documentation process and background check is a time consuming process.
ICICI Securities is associated with ICICI Group which puts in an additional advantage for
Independent Financial Advisor and Investment Associate to work with a huge group. As earlier
mentioned, the employees of organization are the real assets. Therefore, it becomes the
responsibility for ICICI Securities too, to come up with more policies, programs to attract more
Independent Financial Advisor and Investment Associates.

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CHAPTER 6 - IMPLICATIONS

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Implications
The study on the process of recruitment and selection of Independent Financial Advisor and
Investment Associate will be beneficial to many people who will read it. Few of them are –
• Employees of ICICI Securities who are involved in recruiting and selecting Independent
• The study will be useful to Independent Financial Advisor and Investment Associate.
• This study will be helpful to various researchers.
• This study will be helpful to the students of B.COM, B.BA. M.BA.
• This study will be useful to various people who are willing to work as financial investment
advisors.

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CHAPTER 7 – RECOMMENDATIONS

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Recommendations
• Employees of ICICI Securities who are involved in recruitment and selection of
Independent Financial Advisor and Investment Associate are over burdened with the target
of recruiting them as they have additional work to do. Therefore, ICICI Securities need to
set up all together a different team for the recruitment and selection of IA and IFA.
• Employees of ICICI Securities need to be provided with extra incentives and monetary or
non-monetary benefit to help them focus on additional work they do for the growth of the
organization.
• Employees should be provided with training for recruiting he candidates. And, the
company needs to come up with more incentive and attractive programs, promotional
strategies which help in building relationships with the Independent Financial Advisor and
Investment Associate.
• ICICI Securities need to provide various travelling allowance to the employees who
propose personal meetings with the clients at their places, as it provides them an incentive
and additional benefit to work.
• ICICI Securities need to provide a competitive commission rate to the Independent
• In case if the company is allotting the work of recruitment of Independent Financial
Advisor and Investment Associate to its interns then a proper training, relating to pitching
company’s benefits.
• ICICI Securities need to come up with more sources of recruitment apart from various sites.
As the data provided through sites is generally a mixed form of data containing all type of
data of agents of whom even if the registration number has been expired, such data first
need to be worked upon.

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CHAPTER 8 – LIMITATIONS OF RESEARCH

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Limitations of Research
The limitations of this research report are-
➢ It is confined to the 50 employees of ICICI Securities.
➢ It is confined only to the ICICI Securities office only of Kanpur Branch.
➢ Information cannot be collected from all the branches of ICICI Securities.
➢ Data is limited only upto the information given by employees of ICICI Securities.

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CHAPTER 9 – OVERALL EXPERIENCE

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Overall Experience
➢ Description of work responsibilities taken?
Various responsibilities taken at ICICI Securities are-
• I was responsible for gathering data of Investment Associate and Independent
Financial Advisor from various sources.
• I was responsible for working on collection of relevant data.
• I was responsible for maintaining the data on MS Excel.
• I was responsible for cold calling the candidates.
• I was responsible for arranging the meetings with the candidates.
• I was responsible for documentation process.
➢ How could you have done the work better?
Tough the instructions provided by my company supervisor were enough to work as per
the responsibilities that were initiated to me. I still could have done my work better –
• If proper training regarding the product and recruitment could have been provided.
• Presence of proper net connectivity at the office would have made my work easier.
• If I could not have got the raw data then it would have saved a lot of time. As
working on raw data takes lot of time.
• If employees of the place had been more interactive then it would have made my
task easier, as it could have removed my hesitation to ask.

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➢ How could you have gained more experience?
I could have gained more experience at ICICI Securities if –
• My supervisor was always available at office. Since, he was involved in marketing
work most of the time he was not in the office.
• If during client meetings I was allowed to interact with them it would have been
beneficial for me.
• Asking the managers to give my review and then improve on the negative points
given by them.
• If I would have been provided more presentations and training related to diversity
of wide range of products available at ICICI Securities.
➢ What did you learn?
I learned many things at ICICI Securities. Being and working in a corporate environment
was one of them –
• I learned about many financial investment products.
• Interacting with clients and communicating with them helped me in increasing my
communication.
• Learnt about the complete recruitment funnel.
• Learnt about various questions that are asked by candidates during recruitment.
• Learnt about corporate agents.
• Learnt about various investment decisions.
• Working with finance advisors helped me in understanding various investment
concepts.

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➢ How will this experience help you in future?
Experience at ICICI Securities will be helpful to me in future in many ways-
• How to invest in mutual funds and how to take right investment decision.
• If I get a job in insurance sector then experience at ICICI Securities will be very
helpful to me.
• Since I am aware about basic recruitment steps, it will help me to understand
different recruitment processes.
• It will help me in taking a better judgement, as just by talking to the candidate I can
understand if he is willing to work with the organization or not.

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CHAPTER 10 - BIBLIOGRAPHY

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Bibliography
Through various websites-
➢ Website of ICICI Securities.
www.icicidirect.com
➢ www.amfiindia.com
➢ www.advisorkhoj.com
Through various books –
➢ Marketing Management by Philip Kotler
➢ Research Methodology by CR Kothari.
➢ HRM- K. Aswathapa

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CHAPTER 10 – APPENDIX

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Questionnaire On Measurement of Levels of Satisfaction of employees about
the Recruitment and Selection Procedure of ICICI Securities
1. Please write down your particulars below:
Designation : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Department
: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Name: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
1) Employee satisfaction with the target given for recruiting IFA and IA at ICICI Securities?
b) Satisfied
c) Neutral
d) Dissatisfied
2) Employee satisfaction with the data of agents received through AMFI?
b) Satisfied
c) Neutral
d) Dissatisfied
3) Employee satisfaction with the data of agents received from headquarters of ICICI Securities
for lead generation?
b) Satisfied
c) Neutral
d) Dissatisfied

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4) Employee satisfaction regarding the criteria which is chosen to recruit Independent Financial
b) Satisfied
c) Neutral
d) Dissatisfied
5) Employee satisfaction with the overall recruitment process for Independent Financial advisors
& Investment Associates?
b) Satisfied
c) Neutral
d) Dissatisfied
6) Employee satisfaction regarding the personal meeting for selecting Independent Financial
b) Satisfied
c) Neutral
d) Dissatisfied
7) Employee satisfaction with the documentation process for recruiting Independent Financial
b) Satisfied
c) Neutral
d) Dissatisfied

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8) Employee satisfaction regarding the training given to Independent Financial advisors &
Investment Associates for using the Icicidirect.com?
b) Satisfied
c) Neutral
d) Dissatisfied
9) Employee satisfaction to utilize the internal sources or primary sources of recruitment?
b) Satisfied
c) Neutral
d) Dissatisfied
10) Employee satisfaction with the overall selection process of ICICI Securities?
b) Satisfied
c) Neutral
d) Dissatisfied

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CHAPTER 12 -WEEKLY PROGRESS REPORT

STUDY ON EMPLOYEE SATISFACTION ON THE PROCESS OF RECRUITMENT AND SELECTION OF INDEPENDENT FINANCIAL ADVISOR & INVESTMENT ASSOCIATE AT ICICI SECURITIES

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STUDY ON EMPLOYEE SATISFACTION ON THE PROCESS OF RECRUITMENT AND SELECTION OF INDEPENDENT FINANCIAL ADVISOR & INVESTMENT ASSOCIATE AT ICICI SECURITIES