Internship Report

Manali Dutta Chowdhury
Unitedworld School of Business, Kolkata Page 1
A REPORT
ON
“Process of Recruitment at IIFL”
BY
(Enrollment No. 010201011)
United World School of Business (BATCH 2010-2012)
This report is submitted in partial fulfillment of
the requirements of
MBA Program of
United World School of Business, Kolkata
to
Faculty Guide: Dr. Meenakshi Khemka

ACKNOWLEDGEMENT
‘Process of Recruitment at IIFL’ is a project, brought to fruition through the support and co-
operation rendered to me by the management of India Infoline. I take the opportunity to thank all
those people who made my project possible.
I convey my gratitude to Mr. Rohit Kohli (Vice President, India Infoline) for giving me an
opportunity to gain the best of my knowledge here at IIFL.
I am deeply indebted to my company guide Mr. Amitava Ghosh (Assistant HR Manager, India
Infoline) for his enlightening guidance and constant inspiration during my internship.
I am also very thankful to Ms. Prasmita Sanyal for her constant help and also providing me all
the necessary details relevant for the project work.
I also express my heartfelt thanks to my internal guide Dr. Meenakshi Khemka (Human
Resource Faculty, United World School of Business, Kolkata) for her support and guidance.
I also take the opportunity to thank my institute, UnitedWorld School of Business, Kolkata, for
providing me the opportunity to do my internship at IIFL and complete it successfully.
MANALI DUTTA CHOWDHURY

STUDENT UNDERTAKING
I, MANALI DUTTA CHOWDHURY , hereby declare that the PGPM project report entitled
”PROCESS OF RECRUITMENT AT IIFL” is a bonafide work done by me based on the
Summer Internship Program that I underwent from April – June 2011. I also declare that this
report has been exclusively prepared for Unitedworld School of Business, Kolkata and has not
been previously submitted to this or any other institution for a diploma or any other qualification.
Signature of the Student:
Name: MANALI DUTTA CHOWDHURY
Institute: Unitedworld School of Business
Enrollment No: 010201011
Year: 1st year
Date: 1st July, 2011

FACULTY MENTOR CERTIFICATE
This is to certify that the project entitled “PROCESS OF RECRUITMENT AT IIFL” has been
carried out by MANALI DUTTA CHOWDHURY under my guidance, in partial fulfillment of
the diploma of Post Graduate Program in Management (PGPM) at United World School of
Business, Kolkata, during the academic year 2010-11.
Faculty Signature:
Faculty Name:
Date:
Place:

TABLE OF CONTENTS
CONTENTS PAGE NUMBERS
Acknowledgment 2
Declaration of the summer intern (trainee) 3
Approval of the faculty guide 4
Introduction to topic 7
Company Profile 10
Hierarchy of employee 12
IIFL-History and milestones 13
Where IIFL stands in the market 14
Literature review 15
Research Methodology 23
Findings 24
Graphical Representation 25
Job description and job specification 26
Job of an HR at IIFL 29
Experience of an HR while conducting an interview 31
Data analysis and data interpretation 33
Attrition Figures 35
Questionnaires 37

Recommendations 46
Limitations 47
Bibliography 47
Annexure 48

INTRODUCTION
PROCESS OF RECRUITMENT AT IIFL
Cv gathering
Gathering CV consist of a collection of candidate’s CV whom we want to contact. These are the
CVs which we download from the external jobsites like Naukri.com and Timesjobs.com or the
candidates who applied for job themselves. There is a task to gather names to create database.
 Name of the candidate
 Address and contact detail
 Date of birth
 Sex
 Martial status
 Qualification
 Fresher/ Working
 Current employer and previous employer
 Designation
 Current salary
 Key skills
Short listing
Candidates are shortlisted from the database as per the eligibility criteria laid down by the
company. Only eligible candidates are considered for the next process. After collecting resumes,
short listing happens on the following parameters:
 Communication skills
 Presentation skills
 Qualification
 Experience
 Salary

Here the actual compilation of data takes place from the recruiter in the area of sources, and also
comparing the hit ratio of the profiles from various sources takes place
Contacting
The very first process is contacting the person through telephone and explaining him the profile
of the company and profile of the job we have and asking him whether he would be interested in
this profile or not. If the candidate is not interested then we will not proceed for the further
rounds. But if the candidate is interested then we would check his communication skills by
asking few questions by which we can access the candidates communication skills on various
parameters based on the answers he would give. If we find that the candidate’s communication
skills are acceptable, then we would forward him to the further round by short listing him and
entering the details in a MIS sheet.In the same manner we would accumulate sufficient number
of candidates by short listing them and forwarding them to the next rounds.
Schedule interview
Interviews are organized for the candidates who have been short listed by the concerned who
have been shortlisted by the concerned senior recruiter wherein the overall fitment of a candidate
is checked again in few aspects by concerned persons. After having a telephonic round with the
candidate we schedule an appointment for interview. The candidates who best match the
specifications then only they are invited for the interview.
Initial interview
All short listed candidates are coming for the interview they have to fill a candidate information
sheet (CIS) prior to the interview. The company officials carry out two rounds of interviews. The
first round is taken by the HR Department, concerned where the vacancy exists. The interviewer
should aware the candidate about the rules and regulations of the company. In this process some
set of questions asked by the interviewer like:
 Where do you stay?
 Tell me something about yourself
 Current job profile (If working)
 What is your current CTC?
 Why do you want to leave your previous job?

 What is your expected salary?
 Are you comfortable to work with a target oriented job?
 How will you make your own clients?
 Will you be able to manage, lead and participate in a team?
Secondround interview
The second round of interview is taken over by the department head where the vacancy exists.
Generally candidate’s market related knowledge is determined here. Whether he will be able to
handle pressure or not, whether he will be loyal to the company or not, are some of the factors
that is being judged by the department head in this round of interview. And also what will be his
CTC and when he can join the company is being fixed.
CAP ( common admission program) Training
CAP (Common Admission Program) training is a three consecutive day’s induction program for
IIFL. New workers at IIFL are usually given this program. To get employed at IIFL everyone has
to clear CAP training program with 40% marks. After clearing this, company gives an offer letter
to the employee.
Appointment with IIFL
The organization offer the job to the successful candidates who cleared the CAP training
successfully, either immediately or after sometime depending upon its time schedule. And after
completing all formalities of HR operations department, they can get their appointment letter.
The recruitment process at IIFL is systematic and well organized. The HR department has a good
co-ordination with the other departments and so the vacancy gets closed and the lead time is
reduced and hence the cost is reduced.
Firstly, the HR department prepares the job description after the vacancy comes up with proper
approval; the approval is received from Mumbai Head Office. Then the curriculum vitae of the
candidates are reviewed by the HR department. After this the initial screening is done where
many candidates gets rejected. After analyzing the application blank the candidates are called for
the interview. The first round of interview is the HR round. The next round of interview is taken
by the core department usually taken by the sales managers or the AVP depending on the posts.
Every candidate has to give interview to one of the AVPs and the concerned AVP has to submit

a feedback form of the candidate after the interview to the HR Department [See ANNEXTURE-
E]. If a candidate gets selected, then a reference check is done. After getting a positive feedback
from the reference check the job offer is given. If the candidate accepts the job offer then the
final placement is done and the vacancy is closed.
As soon as the candidate accepts the job offer, he/she is given a training of 3 days which is called
as the CAP training. On the second day of training, an exam is conducted; if the candidate passes
that exam then he/she is given the offer letter. Then after completion of the training, the
candidate gets his date of joining.
COMPANY PROFILE
The IIFL (India Infoline) group, comprising the holding company, India Infoline Ltd (NSE:
INDIAINFO, BSE: 532636) and its subsidiaries, is one of the leading players in the Indian
financial services space. IIFL offers advice and execution platform for the entire range of
financial services covering products ranging from Equities and derivatives, Commodities,
Wealth management, Asset management, Insurance, Fixed deposits, Loans, Investment Banking,
Govt bonds and other small savings instruments. IIFL recently received an in-principle approval
for Securities Trading and Clearing memberships from Singapore Exchange (SGX) paving the
way for IIFL to become the first Indian brokerage to get a membership of the SGX. IIFL also
received membership of the Colombo Stock Exchange becoming the first foreign broker to enter
Sri Lanka. IIFL owns and manages the website, www.indiainfoline.com, which is one of India’s
leading online destinations for personal finance, stock markets, economy and business.
Vision Statement
The ultimate vision is to be the most reputed company in the financial services
space.
Facilities
A network of over 2,500 business locations spread over more than 500 cities and towns across
India facilitates the smooth acquisition and servicing of a large customer base. All the offices are
connected with the corporate office in Mumbai with cutting edge networking technology. The
group caters to a customer base of about a million customers, over a variety of mediums viz.
online, over the phone and at the branches.
Terminals

Almost 52% of the terminals in the sample are based in the western region of India, followed by
25% in North, 13 % in South and 10% in the Eastern region. Mumbai has got the maximum
representation from West, Chennai from South, New Delhi from North and Kolkata from the
East.
Branches and Sub-brokers
The maximum concentration of branches is in the north, with as many as 40% of all the branches
located here, followed by the western region with 31%. Around 24% of branches located in
south and only 5 % in the eastern region.
Achievements
A network of over 2,500 business locations spread over more than 500 cities and towns
across India facilitates the smooth acquisition and servicing of a large customer base. All the
offices are connected with the corporate office in Mumbai with cutting edge networking
technology. The group caters to a customer base of about a million customers, over a variety
of mediums viz. online, over the phone and at the branches.

HIERARCHY OF EMPLOYEE
VICE PRESIDENT (VP)
ASSISTANT VICE PRESIDENT (AVP)
BRANCH MANAGER (BM)
SENIOR SALES MANAGER (SSM)
SALES MANAGER (SM)
SENIOR RELATIONSHIP MANAGER (SRM)
RELATIONSHIP MANAGER (RM)
DEALER
TELE MARKETING EXECUTIVE (TME)

IIFL - HISTORY & MILESTONES
1995
 Commenced operations as an Equity Research firm
1997
 Launched research products of leading Indian companies, key sectors and the economy
 Client included leading FIIs, banks and companies
1999
 Launched www.indiainfoline.com
2000
 Launched online trading through www.5paisa.com
 Started distribution of life insurance and mutual fund
2003
 Launched proprietary trading platform Trader Terminal for retail customers
2004
 Acquired commodities broking license
 Launched Portfolio Management Service
2005
 Maiden IPO and listed on NSE, BSE
2006
 Acquired membership of DGCX
 Commenced the lending business
2007
 Commenced institutional equities business under IIFL
 Formed Singapore subsidiary, IIFL (Asia) Pvt Ltd

2008
 Launched IIFL Wealth
 Transitioned to insurance broking model
2009
 Acquired registration for Housing Finance
 SEBI in-principle approval for Mutual Fund
 Obtained Venture Capital license
2010
 Received in-principle approval for membership of the Singapore Stock Exchange
 Received membership of the Colombo Stock Exchange
WHERE INDIA INFOLINE (IIFL) STANDS IN THE MARKET
INDIA INFOLINE (IIFL) is one of the leading financial intermediaries and India’s most
popular website for business and investment. Its website has been rated as ‘Best of the Web’
by Forbes, under the Asia Investing category.
Besides providing up-to-date and comprehensive information on business and industry.
It is also a leading investment intermediary for Mutual Funds, Bonds, ICICI/IDBI Bonds,
Govt. relief bonds, Insurance, IPOs and Fixed Deposits in India.IIFL is direct brokers/agents
with leading financial institutions like RBI, UTI, LIC,GIC, ICICI, IDBI and other private
mutual fund like HDFC, Alliance, Prudential ICICI, Templeton, TATA, HSBC, Standard
and Chartered, Sun F&C, Birla, DSP Merrill Lynch, Kotak, IL &FS,Sundaram, Zurich and
Reliance.
The company has more than 500 Investor points in all the leading cities across India,
with a team of trained and qualified investment advisors and 1500+ associates (sub brokers).
Company e-broking website 5paisa.com, which deals in shares, provides one withfast,
secure and easy to use trading facilities combined with a wealth of outstanding products and
features. Thus, IIFL is uniquely placed with both online and offline presence to maximize
customer satisfaction.

IIFL is a growing organization, which is an ideal place for individuals with high ambitions.
The working atmosphere is highly charged wit a young and energetic team of qualified
professionals
LITERATURE REVIEW
Different department of IIFL where recruitment takes place :
Equities
IIFL is a member of BSE and NSE registered with NSDL and CDSL as a depository
participant and provides broking services in the cash, derivatives and currency segments,
online and offline. IIFL is a dominant player in the retail as well as institutional segments of
the market. It recently became the first Indian broker to get a membership of the Colombo
Stock Exchange and is also the first Indian broker to have received an in-principle approval
for membership of the Singapore Stock Exchange. IIFL’s Trader Terminal, its proprietary
trading platform, is widely acknowledged as one of the best available for retail investors.
Investors opt for IIFL given its unique combination of superior Service, cutting-edge
proprietary Technology, Advice powered by world-acclaimed research and its unparalleled
Reach owing to its over 2500 business locations across over 500 cities in India.
IIFL received the BQ1 broker grading (highest grading) from CRISIL. The assigned grading
reflects an effective external interface, robust systems framework and strong risk
management. The grading also reflects IIFL’s healthy regulatory compliance track record
and adequate credit risk profile.
IIFL has rapidly emerged as one of the premier institutional equities houses in India with a
team of over 25 research analysts, a full-fledged sales and trading team coupled with an
experienced investment banking team.
The Institutional equities business conducted a very successful ‘Enterprising India’ global
investors’ conference in Mumbai in March 2010, which was attended by funds with
aggregate AUM over US$5 trillion and CEOs and other executives representing corporates
with a combined market capitalization of over US$500 billion. The ‘Discover Sri Lanka’
global investors’ conference, held in Colombo in July 2010, was attended by more than 50
leading global and major local investors and 25 Sri Lankan corporates, along with senior
Government officials.
Commodities
IIFL offers commodities trading to its customers vide its membership of the MCX and the
NCDEX. IIFL’s domain knowledge and data based on in depth research of complex

paradigms of commodity kinetics, offers its customers a unique insight into behavioral
patterns of these markets. Its customers are ideally positioned to make informed investment
decisions with a high probability of success.
Credit and finance
IIFL offers a wide array of secured loan products. Currently, secured loans (mortgage loans,
margin funding, loans against shares) comprise 94% of the loan book. The Company has
discontinued its unsecured products. It has robust credit processes and collections
mechanism resulting in overall NPAs of less than 1%. The Company has deployed
proprietary loan-processing software to enable stringent credit checks while ensuring fast
application processing. Recently the company has also launched Loans against Gold.
Insurance
IIFL entered the insurance distribution business in 2000 as ICICI Prudential Life Insurance
Co. Ltd’s corporate agent. Later, it became an Insurance broker in October 2008 in line with
its strategy to have an ‘open architecture’ model. The Company now distributes products of
major insurance companies through its subsidiary India Infoline Insurance Brokers Ltd.
Customers can choose from a wide bouquet of products from several insurance companies
including Max New York Life Insurance, MetLife, Reliance Life Insurance, Bajaj Allianz
Life, Birla Sunlife, Life Insurance Corporation, Kotak Life Insurance and others.
Wealth Management Service
IIFL offers private wealth advisory services to high-net-worth individuals (HNI) and
corporate clients under the ‘IIFL Private Wealth’ brand. IIFL Private Wealth is managed by
a qualified team of MBAs from IIMs and premier institutes with relevant industry
experience. The team advises clients across asset classes like sovereign and quasi-sovereign
debt, corporate and collateralized debt, direct equity, ETFs and mutual funds, third party
PMS, derivative strategies, real estate and private equity. It has developed innovative
products structured on the fixed income side.
It also has tied up with Interactive Brokers LLC to strengthen its execution platform and
provide investors with a global investment platform.
Investment Banking
IIFL’s investment banking division was launched in 2006. The business leverages upon its
strength of research and placement capabilities of the institutional and retail sales teams.
Our experienced investment banking team possesses the skill-set to manage all kinds of
investment banking transactions. IIFL’s close interaction with investors as well as
corporates helps us understand and offer tailor-made solutions to fulfill requirements.
The Company possesses strong placement capabilities across institutional, HNI and retail

investors. This makes it possible for the team to place large issues with marquee investors.
In FY10, the team advised and managed more than 10 transactions including four IPOs and
four Qualified Institutions Placements
What is recruitment?
Recruitment is the practice or activity carried on by an organization with the primary purpose of
identifying and attracting potential employees. It is a tool which helps create a pool of
prospective employees for the organization so that the management can select the right candidate
for the right job from this pool.
Employment recruitment is composed of several stages: verifying that a vacancy exists; drawing
up a job description and job specification; finding candidates; selecting them by interviewing and
other means such as conducting a psychometric test; and making a job offer. Effective
recruitment is important in achieving high organizational performance and minimizing labor
turnover.
Purpose of recruitment:
The general purpose of Recruitment is to provide a pool of potentially qualified job-seekers.
Specifically, the purposes are to:
 Determine the present and future requirements of the firm in conjunction with its
Personnel-planning and job-analysis activities
 Help increase the success rate of the selection process by reducing the number of under
qualified or over qualified candidates
 Help reduce attrition rate of an organization
 Meet organizational legal and social obligations regarding the composition of its
workforce
 To begin identifying and preparing database of potential job applicants
 Increase the pool of job candidates at minimum cost
 Increase organizational and individual effectiveness in the short and long-term
Scope of recruitment:
An effective approach to recruitment can help a company successfully compete for limited
Human Resources. The firm must choose a recruiting approach that produces the best pool of
candidates quickly and cost effectively.

The recruitment plan of an organization helps it in the following ways:
 Help in attracting highly qualified and competent people
 Ensures that the selected candidates stay longer with the company
 Helps the firm to create more culturally diverse work force
 Makes sure that there is a match between cost and benefit
Recruitment needs are of three types:
PLANNED: The needs arising from changes in organization and retirement policy.
ANTICIPATED: Needs are those movements in personnel, which an organization can predict
by studying trends in internal and external environment.
UNEXPECTED: Resignation, deaths, accidents, illness give rise to unexpected needs.
Recruitment influences:
Due to strategic difference among the companies, the importance to recruitment may differ. In
general, however, all companies have to make decisions in three areas of recruitment.
1. Personnel policies, which affect the kinds of jobs the company has to offer
2. Recruitment sources to solicit applicants, which affect the kinds of people who apply
3. The characteristics and behaviors of the recruiter
These in turn influence both the nature of the vacancies and the nature of the people
applying for jobs in a way that shapes job choice decisions.
Vacancy Characteristics
Job choice Applicant characteristics
Personnel policies Recruitment Sources
Recruiter traits and behaviors
Figure 1

Factors affecting recruitment
There are various factors that affect the Recruitment Program of an organization. These
factors can be classified as Organizational or internal factors, and Environmental or external
factors.
Organizationalfactors:
Some of the organizational factors are mentioned below:
 A major factor that determines the success of a recruitment program is the reputation of
the organization. An organization’s reputation depends on its size, area of business,
profitability, management etc., in addition to its philosophies and values. A profitable
firm known for its strong values would attract a better response to a recruitment drive
than a loss-making firm, known for its lack of values.
 The organizational culture and attitude of its management towards employees also
influence a candidate’s decision to apply to an organization. An organization which is
known for its employee friendly policies would certainly be preferred over an orthodox
and rigid organization.
 Another factor that contributes to the success of recruitment program is the geographical
location of the vacant position. Prospective candidates might not be too eager to work in
a remote place unless they belong to that place.
 The amount of resources allocated also determines the success of a recruitment program.
This resource allocation is in turn dependent on the criticality of the vacant position and
the time available to fill the vacancy.
 The mode and medium of advertisement used to advertise for a vacant position also
determines the success of a recruitment program. The reach of advertisement has to be
wide enough and its effect must be long-lasting to attract the right talent.
 The emoluments that the company offers are a major decisive factor for a candidate to
choose the organization.
Environmental factors:
Some of the environmental factors also determine the effectiveness of a recruitment program.
These are as follows:
 The situation in the labor market, the demand for manpower, the demographics, the
knowledge and skill set available, all determine the response to a recruitment program.

 The stage of development of the industry to which the organization belongs also
influences the results of a recruitment program.
 Culture, social attitudes and beliefs also impact the effectiveness of a recruitment
program. For example, a pharma company might attract more talent than a cigarette
manufacturing company.
 Finally, the law of land and the legal implications involved also play a major role in
designing a recruitment program and measuring its effectiveness.
Different sources ofrecruitment:
The recruitment sources in the recruitment process are the sources of candidates. Generally, the
HRM Function recognizes two main sources of candidates for the job positions: internal and
external sources of candidates.
1. The internal recruitment sources, which consists of internal recruitment and promotions
2. The external recruitment sources, bring job candidates from the external environment
using different techniques
The costof recruitment:
Recruitment industry has been fuelled by the adoption of technology and internet penetration.
Organizations have cut costs by almost 80% over traditional recruitment modes by moving over
to the online recruitment process. Recruiting online is ideally more focused, fast paced, and
effective.
The costs associated with manual recruitment can become quite excessive, partly because of the
candidates that are produced. One bad candidate can cost a company more than ten times that of
an individual’s salary, and here’s why:
WORK LOAD: When a person leaves, someone has to do their job. If an employer has not yet
hired another employee, they are forced to pay their current employees overtime. This costs
twice as much. The manager must also stop what they are doing so that they may determine a
game plan and find individuals willing to work overtime.
EXIT INTERVIEW: When a person leaves, someone has to stop their current work in order to
conduct an exit interview. They also have to arrange for the payroll to be stopped, benefit
deductions, benefit enrollments, and other administrative responsibilities. It is very time con
summing.

ADVERTISEMENTS: Lots of money is wasted into investing in newspaper ads, online ads, job
board site fees, and other avenues that may be pursued. Often time’s employers receive
recruitment company offers, spam replies, which are unwanted and nothing of use.
INTERVIEWING: It takes time for an internal recruiter to review candidate’s resumes,
schedule telephonic interviews, perform reference checks, and conduct a face-to-face interview.
Beside time consuming, internal recruiters are not always free also.
LOST PRODUCTIVITY: Besides not having anyone to fill a vacancy, other individuals are
forced to spend less time on their work and more time on additional tasks. Whether he is the
manager, accountant, administrative staff or general employees, everyone is producing less.
NEW HIRE: A new hire has to be added to payroll, registered for benefits, and added to the
schedule. The company has to pay employment taxes and invest money into training. This can be
very expensive.
EFFORT: Because a new hire hasn’t been fully trained, the work that they produce won’t quite
be up to the par. For at least one month, their focus will be on improvements.
Selection:
Selection refers to the process by which it attempts to identify applicants with the necessary
knowledge, skills, abilities, and other characteristics that will help the company achieve its goals.
Interviewing skills
What is an interview?
Interviewing is the most important aspect of the recruitment process, not just for the candidate
but also for the interviewer. If the interview is conducted competently, the interviewee has the
chance to prove himself or herself to be an asset to the company, and its an opportunity for the
interviewer as well to promote their organization and thus attract the best employees.
The interviewer
Given, that people are the most important resource in an organization, it could be costly to recruit
the wrong people.

It is thus better to fine tune your own interviewing skills and make use of the opportunity to get
the right candidate for the right job.
Not to forget, that it is very essential to have the right number of people, at right place, at right
time for the right job, and the recruiter is responsible fir it.
Purpose of the interview
The first purpose of the interview is to find out that the candidate fulfills the criteria defined for
the particular job as defined in the job description. Sufficient time and opportunity should be
imparted to get to know the candidate.
Environment of the interview
Making the candidate comfortable enough so that he can perform his best, is the interviewer’s
responsibility. Using a round table instead of square can be a good idea so that the interviewee
does not feel victimized. Properly addressing the candidate can also help in developing a good
company image for the candidates.
Active listening
An ideal interview should have the interviewee speak for 70% of the time and the interviewer
listen to it actively. The following tips could be helpful to become an active listener:
1. Maintain sensitive eye contact
2. Paraphrase properly
3. Give regular feedback on the candidate’s comments
4. Try to mirror the candidates posture to his speaking speed
5. Encourage the speaker to continue when you want more information
6. Stopping the candidate abruptly, may get him nervous
Equal opportunity
One very costly mistake that might be made during the interview is asking the wrong questions.
The interviewer should no way ask any sort of questions which might violate equal opportunities
law. The equal opportunities commission advises to avoid asking questions like:

1. Marital status
2. Number of children
3. Husband’s employment
4. Boyfriend
5. Parent’s occupation
6. Plan to get engaged or married
One should also not discriminate candidates on the basis of one’s own prejudices, like certain
pre-assumed ideas about women won’t be interested in sales job profile.
Evaluate your own performance
Since, the selection of the right candidate depends on the interviewer, self evaluation of the
interviewee is very important. One should assess whether he/she has been able to draw all
necessary details from the candidate. If not, one should assess and improve his/her performance
in the next interview.
 An interview is a conversation between two or more people (the interviewer and the
interviewee) where questions are asked by the interviewer to obtain information from the
interviewee.
 An interview is a 2-way communication; however, it should be controlled by the
interviewer. Good interviews flow smoothly when both the interviewer and the candidate
take part in an information exchange.
RESEARCH METHODOLOGY
The research methodology has a wide variety of methods to consider either single or in
combination. To make any research work we need proper information and sources of information
of the data collected.
Here methodology refers to the whole method by which study is done. The first part of the study
begins with collecting information from the company and other sources. After gathering
information it is rearranged in a required order. The topic of the study introduced in a proper way
in the report after collection and rearrangement of data. Literature review of the topic in the
report is taken from various text books and websites. And the company profile present the

company functioning, departments, contact details, history, products and services offered and
other information. The second part of the study analysis has been done from the data collected
throughout internship. Here I have collected data from MIS sheet that was maintained by me
throughout and with the help of questionnaires, which was answered by 30 employees of IIFL
Zonal Office.
The last part of the study provides recommendations, for the betterment of the company.
Data collectionmethods:
The part of the report describes the specific of gathering the data. The data collection is the
interesting aspect of the study. The researcher’s task is to look for the type and sources of data,
which may yield the desired result while deciding about the method of collection used for the
study
SAMPLE SIZE: 30
SAMPLE UNIT: Employees of IIFL
SAMPLE AREA: Kolkata
SAMPLE TECHNIQUE: Random sampling method
DATA COLLECTION TOOLS: Questionnaire
SAMPLE FRAME: Data provided by IIFL
TYPES OF DATA USED: Primary and secondary data
SAMPLE SIZE SEGGREGATION: Employees of all levels of all departments, experienced and
fresher, both.
FINDINGS
JOB PORTALS USED BY IIFL:
IIFL has tie ups with two job portals such as Naukri.com and Timesjobs.com. The company pays
a fixed amount to these sites every month to cater their needs.
Naukri.com
Naukri.com positions them as “Every Person Who Is Looking For The Job Should Get One”.
The design and layout of this site helps for easy navigation. The features are:

 Visual hierarchy- clear
 Use of colors- light blue and white
 Margins around the image- small
 White space- efficiently used
 Administrative elements- at the bottom
Timesjobs.com
Timesjobs.com follows “Best Paying Job” as their positioning statement. Some of the features
of Timesjobs.com are as below:
 Administrative elements- at the bottom
 All links in blue
 All information on homepage
 Jobs can be browsed according to functional areas
GRAPHICAL PRESENTATION OF RECRUITMENTS
The following graph shows the number of recruitments done by HR in the month of April
to June’11 for each of the positions:

DESIGNATION
Figure1
JOB DESCRIPTION AND JOB SPECIFICATION OF POSITIONS
VACANT
TELE MARKETING EXECUTIVE
JOB SPECIFICATION:-
Minimum qualification Graduate
Gender Male/ Female
Salary 60000 P.A.
Language Known English/ Hindi/ Bengali
1 1
12
3
8
2
5
0
2
4
6
8
10
12
14
Tele
Marketing
Executive
Dealer Relationship
Manager
Senior
Relationship
Manager
Sales
Manager
Senior Sales
Manager
Branch
Manager

JOB DESCRIPTION:-
The candidate will be provided with a personal computer and telephone and he/she is required to
convince customer over phone to buy IIFL’s products.
DEALER
JOB SPECIFICATION:-
Gender Male/ Female
Salary Depends on current CTC, Negotiable
Experience 1 to 2 years
Other qualification N.C.F.M. certified or 1 year in capital market
JOB DESCRIPTION:-
 Should have experience in dealing in capital market
 No target given
 Only have to be in terminal and deal clients
RELATIONSHIP MANAGER
JOB SPECIFICATION:-
Gender Male/ Female
Salary Negotiable
Experience 0-1 year
Other qualification N.C.F.M. certified or 1 year in capital market
JOB DESCRIPTION:-

T he candidate have to be comfortable with target which are given by the company. They are
responsible for selling IIFL’s products and do online trading on behalf of their clients. They need
to generate their on leads. And also handle client portfolio.
SENIOR RELATIONSHIP MANAGER
JOB SPECIFICATION:-
Gender Male/ Female
Other qualification N.C.F.M. certified or 1 to 2 years in capital
market as R.M.
JOB DESCRIPTION:-
The job profile would be same as a Relationship Manager (R.M.). The only difference would be
in salary as he/she will not be a fresher but one who has 1 to 2 years experience in the market.
His/her salary would be higher than a R.M.
SALES MANAGER
JOB SPECIFICATION:-
Gender Male/ Female

Other qualification N.C.F.M. certified and should have experience
in capital market
Others Have to bring his own team of R.M.s and
S.R.M.s of 7 to 8 members
JOB DESCRIPTION:-
 Lead a team effectively
 Achieve team target
 Minimum 2 to 4 years experience in capital market of which 2 years experience in team
handling
 Good interpersonal skills
 In depth knowledge of financial products and services offered by a broking firm
SENIOR SALES MANAGER
JOB SPECIFICATION:-
Gender Male/ Female
in capital market
S.R.M.s of 7 to 8 members
JOB DESCRIPTION:-
The job profile would be same as a Sales Manager. The only difference would be in salary
because the candidate will be more experienced in the market and also in handling team. His/her
salary would be higher than a S.M. He also have to increase team member.
BRANCH MANAGER

JOB SPECIFICATION:-
Gender Male/ Female
in capital market
S.R.M.s , S.M.s of 15 to 16 members
JOB DESCRIPTION:-
He/she will be in charge of a specific branch. Have to lead the team of the branch and achieve
team target. The candidate has to have minimum 3 years of experience in handling a team and a
branch.
THE JOB OF AN HR (RECRUITMENT) AT IIFL
To recruit, first step of an HR is to identify the job description and job specification of the
positions vacant. Before starting with the work, the company provides the above mentioned
positions vacant to the HR (Recruitment) and their respective job description and job
specification (mentioned above in details). The next step comes is to identify the competitors of
the company. There are generally 3 levels of competitors of a stock broking company; these can
be classified as below:
 FIRST LEVEL: Other stock broking companies like Indiabulls Pvt. Ltd. , Karvy stock
broking co., Angel broking Ltd., Kotak securities Ltd., Motilal Oswal Pvt. Ltd. and so ont
 SECOND LEVEL: Private banks like HDFC, HSBC, ICICI, RBS and so, where people
are into selling of current account and savings account (in short CASA sales)
 THIRD LEVEL: FMCG, telecom, automobile industry people who are into direct sales
of products of these sectors mentioned
The third step is to download CVs from the job portals used by the company and then screen
them according to the requirements of the positions vacant and also which fits the company
policies.

In case of IIFL, candidate whose age is above 50 years cant apply for the positions starting from
telemarketing executive to branch manager and also who have more than 10 years of experience
in insurance sector and are not into cross selling of mutual funds or other financial products cant
apply for the job. Anyone who is undergrad is also not eligible. So keeping all these in mind CVs
are need to be searched and then screened by the HR team. So, now comes the next step of
putting the data of screened CVs in a MIS sheet containing information like : Name of the
candidate, contact number, email id, experience, current company name, current CTC and so on.
After saving the data, comes the main job of an HR of IIFL: He/she needs to now call the
candidates and convince them over to come for a round of interview, after explaining them in
brief the company profile and job profile (called pitching). Incase, the candidate is interested, the
HR need to provide him/her with proper contact address, interview date and time, and contact
person name. The HR also need to mention a candidate that he/she needs to come in proper
formal dress for the interview and need to carry one hard copy of resume, because that’s one of
the policies of the company. And incase, when a candidate is not interested, it requires more of
convincing, making the job more attractive and differentiate the company from others and why
they should join IIFL. If he/she is still not convinced and the HR feels that he/she is a good
candidate and the company needs him/her, HR then need to follow up the candidate in regular
interval (called chasing).
When a candidate agrees for the interview, the HR also need to keep track of him/her and keep
on reminding him/her of the scheduled date and time for his/her interview through phone calls,
SMS or email. For this, the HR need to maintain an MIS sheet of his/her own, where serial
number, name of the candidate, contact number, email id, pitching date, feedback of the
candidate, interview date, interview time, position applied for, status of the candidate after
interview are all maintained.
When a candidate arrives for the interview, the concerned HR need to meet him/her in the
reception, made him feel the CIS (candidate information sheet) (theoretically application blank
form) and call him for the first round i.e. HR round. If the HR feels that the candidate is good
enough for the position applied for, he/she will be sent for second round of interview, which is
taken by the head of the department, where the vacancy exists. After the second round, it is the
duty of the concerned HR to collect the CV and CIS attached to it, from the head of the
department, who took his/her interview and also ask for the status of that candidate and then
updating the MIS sheet.
If he/she is selected, the HR needs to call him/her for the online test and keep a track of him.
Now, if he/she passes the online test, HR need to call him/her and let him know the date of
joining and then finally offer him the offer letter on the date of joining and send to HR operations
department for further formalities.

EXPERIENCE OF AN HR, WHILE CONDUCTING INTERVIEW
It is important for the HR to identify the candidate, whether he/she is a nervous,
uncommunicative or talkative candidate. If the candidate is nervous, the HR have handle
them carefully, because may be the candidate is nervous but he can be an asset to the
company in terms of his competency and seriousness towards his work. May be the HR
can welcome them with a warm greeting, making him feel relaxed, engage in more small
talk and start with specific, fact-based questions that are easy for the candidate to answer
and unlikely to be stressful. But if the candidate is talkative, the HR have to be very
cautious, otherwise the interview can be time consuming and not of much worth. To
handle such candidate, the HR need to tell the candidate that he/she will be following a
structure, and also stress on the time available for each section of the interview. And
when necessary the HR needs to remind the candidate of the time limits. If the candidate
is an uncommunicative candidate, the HR simply needs to encourage them to share their
thoughts and if hesitates or have trouble in answering in any of the questions, the HR can
give him time to think and then again come back to that question some time later.
Handling such candidates is most challenging for an HR, it is so believed in general.
Conducting an interview is very necessary for an HR because over phone, a candidate
can’t be judged on his presentation and communication skills, his presence of mind, his
way of tackling difficult situations.
Through a proper interview, an HR can determine whether the candidate is fit for the
organization or not. The Hr can also promote the company and the job profile, through a
face to face interview. It is believed that candidates get converted to join the company
and is easier for the HR to convince him in an interview than over phone or emails. It
also helps to gather information as much as possible for both the candidate and the HR
through an interview. It is always advisable for an HR, to go through the candidate’s
resume more than once before taking the interview and list some basic questions, he/she
is going to ask during the interview, it helps in saving time and confusion. Few questions
like:
 Tell me something about yourself
 What do you know about the company
 Tell us something about current company and current job profile (if he is
working)
 Are you aware of the post, you have come for interview?

 Are you comfortable with target oriented job?
 Are you comfortable with sales profile?
 Why do you want to leave your current company? (if he is working)
 When can you join us, incase if you get selected
And if he is a fresher, the HR can ask basic questions on:
 What is equity market?
 How is it different from capital market?
 How do you arrive at EBIT?
 What is NIFTY?
 Any recent updates of stock market
 Why does one need demat a/c?
 Do you have enough contacts to sell 5 to 6 demat a/c a month?
Now, comes the difficult part of the HR after the interview, i.e., evaluating the candidate:
For evaluation of the candidate, whether he should be send to the next round is very
important, and for that the HR need to manage his/her own bias, review the candidate’s
resume and the point taken during interview, calculate whether he will be fit for the job
or not and then evaluate his performance and then take decision.
The problem facedby HR in an interview process:
The interview process can be of many types. They may differ according to the job description,
may depend on the candidate and many other factors.
The key point which lies here is that tapping of the actual potential of the candidate, to know his
attitude towards work, his actual motives and intentions and some other features remain
untapped during the interview session, and are not reflected by the CV or interviewer’s
questions.
The motive here is to develop an instrument which can solely, or clubbed together with the
interviewing procedures followed by the organization will help to tap all the hidden traits and
characters of the candidate, which may affect his own work, the team and the associates of the
organization.
Solution found by IIFL to this problem:

For purpose of tapping the hidden traits in the candidate and to upgrade the interviewing process,
Online Test or CAP training is being used for the evaluation of the candidate and then is offered
the offer letter of joining IIFL to him.
DATA ANALYSIS AND DATA INTERPRETATION
Different sources ofrecruitment at IIFL and the approximate percentage
summary:
Time period: March, April, May, June 2011
NUMBER SOURCES PERCENTAGE
1 Direct walk in (DWI) 10%
2 Internal Referral (IR) 15%
3 Consultancy (CON) 10%
4 External Jobsite(EJ) 40%
5 Advertisement (ADV) 5%
6 Graduation Institute (GI) 5%
7 Management Institute (MI) 10%
8 External Referral (ER) 5%

Figure 3
The above diagram gives an idea of average recruitment of employees from different sources.
From this data, it can be seen that candidates selected for the month of March, April, May and
June, 2011 from DWI is 10%, IR is 15%, CON is 10%, EJ is 40%, ADV is 5%, GI is 5%, MI is
10%, and ER is 5%
Direct
walk in
(DWI),
10%
Internal Referral
(IR), 15%
Consultancy
(CON), 10%
External
Jobsite(EJ), 40%
Advertisement
(ADV), 5%
Graduation
Institute (GI), 5%
Management
Institute (MI), 10%
External Referral
(ER), 5%

DATA OF NUMBER OF CANDIDATES CALLED, LINE UPS, TURNED
UP, SELECTED AND JOINED THE COMPANY FROM MONTH APRIL
TO JUNE’11
Figure 4
ATTRITION FIGURES FOR MONTH OF MARCH, APRIL, MAY, JUNE’
2011
POSITION NUMBER
Tele Marketing Executive 13
Dealer 18
Relationship Manager 183
Senior relationship Manager 55
Sales Manager 123
Senior Sales Manager 13
Branch Manager 19
TOTAL 424
Called for
interview
Interested
for interview
Turned up
for interview
Got
selected
Joined the
company
Series1 741 258 74 32 30
0
100
200
300
400
500
600
700
800
Numbers

1. The higher the attrition, greater the responsibility of the sourcing team
2. There are three important positions, i.e. relationship manager, senior relationship
manager and sales manager, where the attrition rate is on higher side and these three
positions requires more attention
3. Going by the trend, retention strategies should be adopted to curb the high rate of attrition
Possible reasonsforhigh rate of attrition at IIFL may be:
1. Bad image of the company in the market
2. No employee involvement in taking major decisions
3. Low rate of employee motivation
4. Low basic salary than other competitor companies in the market
5. Insecurity ( may lose job anytime)
6. Unfriendly working environment
Costinvolved in recruitment at IIFL:
MONTH DIFFERENT SOURCE OF
RECRUITMENT COST
COST PER HIRE (CPH)
MARCH 37839 788
APRIL 28839 779
MAY 31839 505.3
JUNE 41839 884
1. Looking at the table, it is visible, it is the month of May, the cost is minimum and this is
due to high hires
2. Company should also try to find the extent to which cost can be brought down and it has
to make sure, the company achieves it
3. The cost is directly related to employee’s performance and stability of the person in the
company. Higher it is, cost can be justified

HOW EFFECTIVE IS THE INTERVIEW PROCESS AND HOW
EFFECTIVE IS CAP TRAINING FOR THE CANDIDATE
To know how much happy the employees are with the total interview process, CAP training and
their job satisfaction level, the following questionnaires have been prepared, which was taken by
30 employees of different departments of IIFL. The questionnaires was prepared with motive of
helping the organization to know the employees satisfaction on training provided to them, if
there is any need of improvement in the interview process, their source of motivation to join the
company and refer their peers to also join the company and so on. It will give a clear picture of
which areas the HR department need to give more attention and improve the area.
QUESTIONNAIRES
Q1. What do you think about the interview process of IIFL?
The above diagram shows the number of employees who voted for each item.
Figure 5
Excellent, 2
Very Good, 1
Good, 12
Fine, 3
Familiar, 1
Easy
going, 2
No Comments, 2

Q2. HR Department takes first round; do you think it’s required?
Figure 6
The above diagram shows that most of the employees feel the need of the HR first round of
interview.
Obviously, 3
Yes, 17
No, 7

Q3. What are your motivations for joining this company (IIFL)?
Figure 7
Brand Name, 6
Transparency, 2
Salary, 10
Career Growth, 9
Corporate
Culture, 3

Q4. Are you finding this company up to the mark as you desire (in terms of job profile and
company policy)?
Figure 8
The above diagram shows most of the employees are finding the company up to the mark.
Yes, 22
No, 5

Q5. Do you happily accept the fact that lower level and high level of qualification come under
the same structure?
Figure 9
The above diagram shows most of the employees doesn’t find qualification to be a problem.
Yes, 15
No, 7
No comments, 5

Q6. Do you think the company is holding a good “Brand Equity” due to its manpower or
performance?
Figure 10
Man Power, 6
Performance, 8
Both, 12
No
comments,
4

Q7. Would you recommend your friends or relatives to join IIFL?
Figure 11
Most of the employees will prefer their friends and relatives to work with them in IIFL.
Yes, 16
No, 10
No comments, 4

Q8. How beneficial did you find the CAP (Common Admission Program) training?
Figure 12
The above diagramshowsthat most
of the employeesare findingCAP
trainingtobe beneficial
Very Important Important Important to some extent Not important No comments

Q9. How much do you rate your trainer on a scale of 10 points?
Figure 13
The above diagram shows the number of employees who voted their trainer out of 10 points.
10, 6
9, 2
8, 13
7, 3
6, 1
5, 3
No comments, 2

RECOMMENDATIONS
1. The company should use more job-portals besides Naukri.com and Timesjob.com. This will
provide with a wider database and double calling and repeated calls can be avoided.
2. The interns should be told not to chase a candidate more than 3 times. This leaves a very bad
impression of the company.
3. The candidates should definitely be provided with a feedback and informed if they are
rejected too. This is because many of them keep waiting for the result which is never told to
them.
4. Personally, I feel its better to divide the data into 2 categories as freshers and work-
experience. In the morning calling should be done only for freshers and after market hours i.e
3:30 PM work experience people should be called. By doing so lot of potential candidates can be
converted and can be convinced without disturbing them.
5. We should become more prompt in taking interviews and not make a candidate wait for more
than 30mins. A lot of candidates do get impatient and leave especially the working lot as they
take out time from their already tight schedule.
LIMITATIONS:
There can easily be some mistakes made at various stages in the recruitment process. These
stages include:

 Defining the job itself or identifying the prospective candidates
 Selecting proper media for advertising for a vacant position
 Assessing job applicants
 Making the actual selection decision
 Framing terms of employment between the organization and the prospective employee.
The danger, quite apart from the cost of recruiting the wrong person and then having to
get rid of them and recruit again is very critical and shall be avoided for healthy Human
Resource Management
BIBLIOGRAPHY
Books referred:
• “Human resource management”, by HOLLENBECK and WRIGHT, 2002
Published
• “A framework for human resource management”, by GARY DESSLER
• “T+D”, by American Society
• “HR and recruiting in INDIA”, by AMES GROSS
• “ How to master interview skills” by RUTH MCGUIRE
Websites referred:
 http:// www.hr-guide.com
 http:// www.wikipedia.org
 http:// www.citehr.com
 http:// www.indiainfoline.com
 http:// www.hrlink.com

ANNEXURE- A
QUESTIONNAIRE
Dear Sir/Madam,
It will be very helpful for me if you please fill up the underneath questions which is set entirely
on the basis of survey compliance.
Sincerely,
……………………………
…………….. ……………………….
(Intern)
Name: …………………………………………
Address: ……………………………………………………………………………….
Ph. No.: ……………………………….. Email id: …………………………………..
1. What do you think about the interview process of IIFL?
 Excellent
 Very good
 Good
 Fine
 Familiar
 Easy going

 No comments
2. HR Department takes first round; do you think it’s required?
 Obviously
 Yes
 No
3. What are your motivations for joining this company (IIFL)?
 Brand Name
 Transparency
 Salary
 Career growth
 Corporate culture
4. Are you finding this company up to the mark as you desire (in terms of job profile and
company policy)?
 Yes
 No
5. Do you happily accept the fact that lower level and high level of qualification come under
the same structure?
 Yes
 No
 No comments
6. Do you think the company is holding a good “Brand Equity” due to its manpower or
performance?
 Man power
 Performance
 Both
 No comments

7. Would you recommend your friends or relatives to join IIFL?
 Yes
 No
 No comments
8. How beneficial did you find
the CAP (Common
Admission Program)
training?
 Very important
 Important
 Important to some extent
 Not important
 No comments
9. How much do you rate your
trainer on a scale of 10
points?
 10
 9
 8
 7
 6
 5
 4
 3
 2
 1
 0
 No comments

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