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COMPANY REPORT
To understand and review the Human Resource Management strategies
and policies of Trustline Securities Ltd.
Submitted by
Shriyanka Singh
A0101913208
MBA Class of 2015
Under the Supervision of
Dr. Anita Kumar
Assistant Professor
In Partial Fulfilment of the Requirements for the Degree of
Master of Business Administration (General)
AMITY BUSINESS SCHOOL
AMITY UNIVERSITY UTTAR PRADESH
SECTOR 125, NOIDA - 201303, UTTAR PRADESH, INDIA
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DECLARATION
The title of Dissertation/ Company Report/ Minor Project is
___________________________________________________________________________
I declare that (a) the work presented for assessment in this Dissertation/ Company Report/
Minor Project is my original work, that it has not previously been presented for any other
assessment and that my debts (for words, data, arguments and ideas) have been appropriately
acknowledged; (b) work conforms to the guidelines laid by the University, and (c) Plagiarism
for this report has been checked using __________ software and is ___________ %. The
summary of report is attached along with for reference.
Date: …………… Shriyanka Singh
A0101913208
MBA – G (Class of 2015)
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CERTIFICATE
This is to certify that Shriyanka Singh student of Masters of Business Administration –
General at Amity Business School, Amity University Uttar Pradesh has completed the
Company Report on “To understand and review the Human Resource management strategies
and policies of Trustline Securities Ltd.”, in Partial Fulfilment of the Requirements for the
Degree of Master of Business Administration – General under my guidance.
The report has been checked for the plagiarism and it is acceptable.
Dr. Anita Kumar
Assistant Professor
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ACKNOWLEDGEMENT
Undertaking such a project in the first year of master of business administration is a
mountainous task in itself and it requires able assistance along the way to make it successful,
interesting, motivating, learning, professional and above all easy! In this I have been blessed
with many people who have served as a light and mentored me towards a successful
realization of this project. It is with utmost humility and gratitude that I take this opportunity
to recognize every one for their invaluable inputs. I address you all to express my heartfelt
greetings.
I express our sincere gratitude towards Director, Amity Business School, Dr. Sanjeev Bansal
for his valuable support. Thank you sir!
I would like to offer my special thanks to our Programme leader, master of administration
(2015), Ms Teena Bagga for her valuable criticism as well as timely appreciations. Thank
you, ma’am!
I, whole heartily thank Mr Rahul Raghav, Associate Vice President- Trustline Securities , for
his co-operation and his guidance throughout the project.
I received zestful guidance from my Faculty mentor, Dr, Anita Kumar I honour her
consistent inputs and able guidance. Thank you, ma’am!
I sincerely thank all the above teachers for making this a very enriching experience.
Shriyanka Singh
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TABLE OF CONTENT
Company Profile 7-11
Human Resource Management 12-13
Human Resource Policies 14-15
Company Details 16-20
Employee data
Diversity
Recruitment
Communication
Review of Human Resource Policy 21-30
Recruitment Policy
Joining and Induction Policy
Performance Appraisal Policy
Attendance and leave Policy
Exit policy
Code of Conduct
Conclusion 31
Suggestions and recommendations 32
Reference 33
Appendices
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ABSTRACT
This report is based on the various practices and policies concerning the Human Resource of
Trustline Securities. Recruitment process, communication networks, and other procedures
followed in the company have been discussed. Policies which govern the human resource
planning and their detailed description as per company is mentioned. Lastly the conclusion
about the importance and benefit of these policies is analysed as well as few suggestion and
recommendation is mentioned for the company after reading about the policies of other
leading companies.
Key words: Human resource policies, HRM, Recruitment, Induction, Exit.
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COMPANY PROFILE
Trustline group started with a humble beginning in the year of 1989 as proprietor stock
broking company and got converted recently to a public limited company by the name of
TRUSTLINE SECURITIES LIMITED. With the increase of new exchanges coming into
play in the Indian financial market, TRUSTLINE GROUPS success and growth into the
commodity, currency, and depository was obvious. TRUSTLINE GROUP in today’s time is
into all major areas of financial services.
Group Companies
•TRUSTLINE SECURITIES LIMITED
• TRUSTLINE COMMODITIES (P) LTD.
• TRUSTLINE FINVEST LTD.
• TRUSTLINE INSURANCE BROKERS (P) LTD.
• TRUSTLINE REAL ESTATES (P) LTD.
• TRUSTLINE ACADEMY – THE INVESTMENT SCHOOL
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The Ideology
Mission
“To empower individual investors by providing simple investments ideas through investment
research and thus lead them to a path of wealth creation by investing in the securities
market.”
“To free investors from high costs and conflicts of traditional stock broking by providing
value added services. To hold hands with investors in the prosperity that our country is likely
to see in its economic growth in the coming years.”
Vision
1. “To provide world class investment solution in simplified form to the investing
population.”
2. “To provide the most modern technology platform so as to enable investors perform hassle
free transactions at minimum impact cost.”
3. “To empower investors with opportunities to invest across various asset classes to benefit
from the dynamism of the market.”
Motto
1. “To treat customers with dignity, respect and care.”
2. “To improve our own skills and knowledge to serve the customers better.”
3. “To extend our network to all parts of India in the near future.”
4. “To import financial and investment literacy to all our customers over time.”
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The Executive Board
“TRUSTLINE SECURITIES LIMITED is a professionally managed company under the
leadership of Dr. Mukesh Kansal. Assisting him are Chartered Accountant, MBAs, Company
Secretaries & IT Professionals.”
Dr. Mukesh Kansal – Chairman & Managing Director
“Fellow member of ―The Institute of Chartered Accountants of India,Fellow member of
―The Institute of the Company Secretaries of India‖ and Ph.D. on ―Stock Exchange and its
significance in India. Having over 20 years of experience in Indian Stock Markets &
Financial Services, he holds the position of Chairman and Managing Director.”
Mr. Paul Joseph - Principal Advisor
“IES (Retd.), former Principal Advisor, Planning Commission, Government of India,is the
Principal Advisor to Trustline Securities Ltd. He has worked in the Ministry of Finance for
over 20 years dealing with Companies, Stock Exchanges,Mutual Funds and Securities and
Exchange Board of India.” “He has also worked as economic advisor in various other
Ministries including Ministry of Corporate Affairs”.
Mr. Vinay Gupta – Director
“Seasoned professional in the field of finance with experience of more than 20 years.” “He
specializes in structured derivatives and wealth management for Corporate.”
Mr. Sidhartha Chatterjee - Country Head CA & CS by profession, leads the research
and sales team.
“He has experience of more than 15 years in this industry. He has authored over 14 titles
on subjects relating to stock market and specializes in market analysis. Conducts investor
seminars, television program & workshops all over the country for the education of
investors.”
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Competitors:
S.no NAME OF BROKING
HOUSES
INTRADAY DELIVERYBASE
D
TRADING
1 Indiabulls 0.03 0.3
2 Religare 0.03 0.3
3 India Infoline 0.03 0.3
4 Motilal Oswal 0.03 0.3
5 Share Khan 0.03 0.3
6 HDFC securities 0.08 0.75
7 ICICI securities 0.08 0.75
8 Kotak Securities 0.05 0.5
9 Trustline 0.02 0.2
Strengths:
• 75 branches all over India
• 350 plus business partners across 160 cities in India
• 800000 plus registered clients
• 9000 plus investors trained through stock market related education.
• 70000 sq.ft office with modern infrastructure at Noida.
• INR 30 crore plus net worth
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Achievements:
Network
Over 400 offices pan India and has presence in all major metros of India.
The offices are manned by seasoned market experts who are continuously trained and
upgraded.
Offices are well connected through VSAT, Lease Lines, ISDNs, Internet and all other
network facilities.
Able IT professionals support the entire network from the head quarter at Noida,
Uttar Pradesh on real time basis. The network has strong presence in various states
with the help of associates, sub- brokers and business partners with a thrust
Towards semi urban and rural areas. We have offices even in those places where
proper banking
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ABOUT THE TOPIC:
Human Resource Management:
“Human Resource Management (HRM) is an approach of managing people in any
organisation”. People are taken as the most important aspect in an organization in this
approach. Human resource management deals with the people dimension of management of
an organisation. An organisation is a body of people, which deals their acquisition,
development of skills, their performance, their motivation for higher levels of attainments,
and ensuring maintenance of their level of commitment towards the organization and its
various activities. All these activities combined fall in the domain of HRM.
Human Resource Management is a process, which has four main activities within it, i.e.
acquisition, development, motivation, maintain and maximum retention of human resources
by formulating policies which make it easier for an organization to function and take of its
human resource or the people in the organization. One very important activity or
responsibility of human Resource Management is to maintain good human relations and a
positive and encouraging working environment in the organisation. It is also deals with
development of individuals and making sure that all the employees of the company integrate
their personal goal with organizations which will ensure growth of both the company and the
individual.
Objectives of HRM
According to Scott, Clothier and Spriegal, ―”The objectives of Human Resource
Management, in an organisation, is to obtain maximum individual development, desirable
working relationships between employers and employees and to affect the moulding of
human resources as contrasted with physical resources.” The main objective of human
resource management is to contribute to the attainment of the organisational goals. However,
the incarnate objectives of human resource management are:
(i) To ensure effective utilisation of human resources: to use the people to their best
potential, other organisational resources will be efficiently utilised by the human
resources.
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(ii) To establish and maintain organisational structure and relationship among all the
members of an organisation by dividing the organisation tasks into functions,
positions and jobs, and by defining clearly the responsibility, accountability,
authority for each job and the person at the respective position and its relation
with other jobs in the organisation.
(iii) To attain the maximum development of human resources within the organisation
by offering opportunities for advancement to employees through training and
other programmes.
(iv) To ensure every human beings is respected by providing various services and
welfare facilities to the personnel in form of med claims and other benefits.
(v) To ensure integration of individual/group goals with those of the organisation in
such a manner that the individual feels a sense of commitment and loyalty towards
the organization and sense of satisfaction towards the personal achievement.
(vi) To identify, understand and satisfy the needs of individuals by offering various
monetary and non-monetary rewards for their commitment towards the
organization.
To achieve the above objectives, human resource management has to undertakes the
following activities :
(i) Human Resource Planning is basically determining the number and kinds of
personnel required to fill different positions available in an organisation.
(ii) Recruitment, selection and finally placement of an individual, i.e., employment
function.
(iii) Training and development of employees to make them perform better and grow
along with the organization.
(iv) Preparing performance appraisals and taking corrective steps for under
performers.
(v) Motivating the employees of workforce by providing them with financial
incentives and avenues of promotion.
(vi) Remuneration of employees. All the employees must be given sufficient wages
and add on benefits to achieve higher standard of living and to motivate them to
perform better.
(vii) Providing the employees with Social security and keeping in mind the welfare of
employees.
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HUMAN RESOURCE POLICIES
Human resource policies are the formal rules and guidelines that the management of an
organization frames, formulates and put in place to hire, train, assess, and reward the
employees. These govern the relationship with employees in the attainment of the
organization objectives. Also they help the employees to understand their rights and
necessary duties towards the company.
HR Policies cover the following:
1. Policy for recruiting and hiring people with due respect to factors like reservations, sex,
marital status etc. if applicable in an organization.
2. Policy mentioning the terms and conditions of employment-compensation policy and
methods, hours of work, overtime, promotion, transfer, lay-off, leave encashment etc.
3. Policy regarding medical assistance-sickness benefits, ESI and company medical benefits.
4. Policy mentioning about housing, transport, and other allowances.
5. Policy stating the training and development-need for, methods of, and frequency of
training and development.
6. Policy in regards to issues like industrial relations, trade-union recognition, collective
bargaining, grievance procedure, participative management and communication within the
organization.
FORMULATING POLICIES
There are five main principal sources for determining the content and meaning of policies:
1. Past practice in the organization.
2. Prevailing practice in the concerned industry and competitors.
3. Attitudes and philosophy of founders of the company and that of the top management.
4. Attitudes, philosophy and wish of the middle and lower management.
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5. The knowledge and experience gained from handling countless personnel problems on day
to day basis by the HR department.
BENEFITS OF HR POLICIES
Organizations should frame HR policies as they ensure the following benefits:
a) Formulating policies requires that the management would give deep thought to the
basic needs of both the organization and its employees. The management should
examine the basic convictions as well as give full consideration to the prevailing
practices in other organizations.
b) Policies ensure consistent treatment of all the employees throughout the organization.
Favouritism and discrimination are minimized.
c) Continuity of action is assured even though top management personnel change.
Policies promote stability and helps in functioning of the organization in the same
manner even if the management changes.
d) Policies serve as a standard. Actual results/performances can be compared with the
policy to determine how well the members of the organization are performing.
e) Sound policies help build employee motivation and loyalty. This is especially true
where the policies reflect established principles of fair play and justice and where they
help people grow within the organization.
f) Sound policies help in strengthening intrapersonal relationship and intergroup
conflicts.
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COMPANY STATISTICS
EMPLOYEE DATA
As of February 28th, 2014, Trustline has approximately 1,650 employees, an increase of
approximately 100-150 employees from March 31, 2013, which was approximately 1500
which include both the employee at the head office and back office- dealers pan India office.
During the current financial year the company has already seen an increase in the number of
employee, which reflects the steady growth of the company. The company has seen the
maximum growth in the number of employees in marketing and sales department both at the
head offices and dealers-agents in pan India offices. Also the growth can be seen mostly in
the northern Indian region that being Jaipur and other area.
A rough break down of employees department wise for the year 2013-14 is shown below in
the table.
RMS-Equity 50
RMS-Cong 20
CRF 30-35
Legal 10
Compliance 20
Accounts 30+
Depository
Participants
10
Distribution 10
Help Desk 15
Administration 25
Marketing and sales 1100
IT 15
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DIVERSITY
As a company with offices spanning all over India, Trustline Securities employs individuals
of different cultural backgrounds speaking different languages , genders and different age
groups. Trustline group believes in the idea of diversity in the workforce, as this often help in
generating new ideas and increasing opportunities. Diversity can add varied ideas and
perspectives to a workplace. One more reason for increasing the workforce is, that it
increases their ability to access candidates who are most qualified for the positions they're
looking to fill. Even though the company tries to imply diversity in the recruitment, Trustline
securities is a male dominated company as and when compared with the female employee. A
typical pattern seen in most of the Indian companies. Maximum number of employees lies in
the age group between 25-40, 33 being the average age. By this, it can be inferred the, that
the company mostly has young employees and policies should be framed keeping this in
mind.
RECRUITMENT
Having a deep regard for diverse experiences and values and recognizing the importance of
originality, Trustline sought to secure a wide range of employees from all over India.
Trustline is implementing a variety of cross-state and cross-business initiatives aimed at
bringing the capabilities of such employees into full play, irrespective of, culture, race,
gender, age etc.
DIVERSITY IN RECRUITING PRACTICES
As a company with high sales activities, Trustline is promoting the localization of their
operations by working to secure local human resources that best respond to regional and
location-specific needs. Additionally, with the aim of securing talented human resources
crucial to growing its business all over India, Trustline recruits university graduates through
heavy campus recruitment processes.
Trustline has opening for interns annually, which welcomes university students from all over
India and specifically Delhi. Trustline conducts recruiting presentations at universities,
mostly for MBA students. Such practices help them have variety of students with almost
same educational background so that the working environment becomes easier and no one is
left behind in discussions
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Trustline has also employed Deloitte Human Resource Consultancy services for their
recruitment process. This ensures and wide range of diversification of employees and
transparency in the hiring process where merit is the only criteria. Deloitte follows Human
Resource Transformation (HRT) which focuses on maximizing the efficiency and
effectiveness of HR service models and HR functions by reengineering processes,
restructuring, implementing new systems or a new HR service delivery model, outsourcing or
insourcing with the specific purpose of enhancing HR’s contribution to the business.
According to Global trends, the impending challenges and issues that organizations are
facing with HR Service Delivery, mainly in hiring and exiting process due to corruption and
manipulation at various levels, so there is a need to redefine how HR operates and delivers its
services to the employees and employers. In Indian scenario, there is a high raise in services
related to HR which provide solution at different levels, most important being recruitment,
these services bridge the gap between the employee and the employer. So by using these
service provide the by deloitte, Trustline is able to reach the candidates who are most fit for
the position based on various parameters.
RECRUITING PRACTICES
Trustline has adopted new recruiting practices in the hope of bolstering applications from
individuals who are attracted to the idea of helping to shape the Company's future. As
mentioned above, to make sure there is diversity and transparency in recruiting practices, the
company recruits through different methods, i.e. campus recruitment, human resource
consultancy services and job vacancy ad’s on portals. The first two being the most widely
used.
The recruitment process is carried out in various different steps and is carried out in a span of
few days. First step of the recruitment process is clearing the aptitude test which can be both
technical and non-technical depending on the position being filled; this step is usually carried
out in campuses where the numbers of candidates are high. This step allows skimming out
individual out of large number of people. The second step is scanning through the resumes of
the candidates who cleared the first round and shortlisting them on the basis of the qualities
required for the position which are mentioned in their resumes. The third step; group
discussion may or may not happen; it depends on the number of candidates and quality of
candidates. The most important step in the entire recruitment process is the personal
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interview which is carried out extensively and is the final deciding point for the selection of
the candidate.
The personal interview is carried out in presence of head of each department and as well the
associate vice presidents of the departments. In case of campus recruitments the personal
interview is held at campuses if the numbers of candidates are high, but if the candidates are
not very large in number then candidates are called to the head office of the company situated
in Noida.
TRAINING & TALENT DEVELOPMENT
The development and vitality of the employees drive Trustline’s dynamic growth. Trustline
recognizes its people as its most important management asset and the growth of its people as
a crucial aspect of its management foundation. Trustline wants to enhance motivation and
encourage personal growth for its employees through on-the-job learning, as well as through
access to a variety of programs designed to enhance individual abilities and skills which are
tailored to local needs, this is will not only help in tapping the potential of the individual but
also help the company growth with steady growth rate.
On selection of the candidate, he/she is in the position of management trainee for the period
of three months where he/she undergoes on the job training. The training here is given the
department head where the individual has been recruited. This training concentrates on the
job skills which the candidate requires for the full-filament on the job allotted to him. This
training id highly department specific and does not include any other aspect of training other
than the job allotted to the candidate. After the completion of three months this training
process ends and the employee is promoted to the position of relationship manager when
talked about in case of sales department.
Sales department has the highest number of training programmes where the employee and
dealers are trained to be more customers friendly and convincing as to sell maximum of the
services.
COMMUNICATION:
All Business activities require extensive communication with its employees working at
different levels and located at different region all over India. Also a company requires
communicating with its dealers, agents and most importantly its customers. Over the years,
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owing to the widespread use of e-mail and other communications technologies over the
internet, there is a tendency toward less face-to-face communication. Further, in people's
busy lives, it is often difficult to convey one's feelings to the people one interacts with,
sometimes leading to hurt feelings or a lack of clarity of intentions which often leads to
conflict in the organization and disturbs the working environment. In today’s corporate
culture, which values effective communication, Trustline has an established environment in
which it is easy to build trust among individuals and in which harassment behaviour is
unlikely to occur which results in unity among the teams and department. Trustline strives to
maintain a healthy working environment, as well as to facilitate the smooth execution of
business, by placing a high priority on communication.
Employee–management communications
Trustline’s top management believes in the importance of communication with employees,
hence they follow a strict communication network so that employee at each level is aware of
what is happening in the company and everyone is in touch with each other, this form of
communication networks helps in maintaining a hierarchy of communication and employee
can follow a strict flow of communication. This form network does not help in uniting and
have a personal comfort level with seniors but ensures that there is minimum of rumours and
grapevine which is one of the leading causes for office politics.
In undertaking these various measures, Trustline takes care to communicate closely with
employees to ensure their understanding of the need for structural reforms hence Trustline‘s
employees uses intranets and e-mail to communicate with Trustline employees. This not only
facilitates the sharing of information but also makes the process quicker.
Hence it can be said that Trustline promotes, upward, downward and horizontal form of
communication but strictly inhibits free form of communication as it breaks the formal setup
of the office and also can be a source of office politics.
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REVIEW OF HUMAN RESOURCE POLICIES
In reviewing the HR Policies at Trustline, it has been stated that the HR Policies has been a
key part of the management processes for the effective utilization of human resource and in
smooth working of the organization. The company aims to full fill the following objectives
through the formulated policies:
I. RECRUIRTMENT POLICY
The organization recognizes its staff as being fundamental to its success. Hence it is
important to attract and appoint staff with the necessary skills and attributes to fulfil its
business goals and support the organizations core values.
In Trustline, recruitment and selection of personnel is solely based on the criteria of their
knowledge, skills and attitudes, so as to recruit star performers and nurture them to excel
in their performance.
All direct recruitment is through the HR department.
Detailed selection procedures as decided from time to time are adhered to without
any compromise.
The recruitment panel usually consists of head of department, Associate vice
presidents and member from the human resource department. The panel members
may change from time to time depending upon the selection process. HR
department designs the panel.
During recruitment process an assessment sheets are handed to the panel for each
candidate where in the candidate is allotted marks on various criteria. (form
attached in the annexure)
The procedure mentioned above undergoes continuous evaluation as per the
requirement and feedback.
The HR department is responsible for discussing the designation and CTC to be offered to the
selected candidate for approval by top management such as head of department, AVP and
VP .
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II. JOINING AND INDUCTION POLICY
The primary objective of the joining and induction policy is to assist new employees to
integrate into the culture of the organization and to acquaint themselves with details and the
requirements of the job.
According to this policy, each employee joining the Organization should undergo an
induction training programme. This induction programme should be held for at least 2
working days and should be conducted within 30 days. After the induction programme the
selected candidate goes through and induction or training period where in he/she is given on
the job training. It is only after this that the candidate is given a appointment letter confirming
the position in the company. This procedure of induction programme is only applicable for
entry level jobs. The induction plan should be communicated to the employee within a week
from his/her joining date.
At Trustline, new recruits are imparted with induction, orientation, training programmes so
that the recruit adapts to the working environment and ways quickly and feel a sense of
belongingness towards the organization. Such activities make the new entrant more
comfortable which will reflect in the quality of the work done by him/her.
III. PERFORMANCE APPRAISAL POLICY
This policy has been drafted to explain and manage the process of effective performance
management. Performance Appraisal grooms every individual to realize his potential in all
facets by helping to identify and achieve his personal goals within the framework of
organizational objectives.
Appraisals should be ethical and impartial so as to recognize worthy contributions
appropriately and in time in order to maintain a high level of employee motivation and
morale. Performance management system plays an essential role in tracking the productivity
of each employee.
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Performance appraisal process focuses on result achievement. Results can be achieved
through focused efforts to meet the demand of a particular job role. Key result areas (KRA)
have been defined for each role in the job description to support this process.
Performance appraisal is an annual process with a half-yearly review system. The annual
cycle followed for this purpose is April to March. Performance appraisal will be conducted
for each employee no later than mid-April .
Outcome of performance appraisals: Although, the output of the performance appraisals is
linked with annual increment, variable pay (if applicable), role change and / or promotion
cycle, the success of the performance management process has a direct relation with how
effectively an employee performs in his role. Thus those employees who focus on their core
role keeping in view the business objectives stand to benefit in this process.
The outcome of the annual performance appraisals will be used for one or more of the
following reasons:
• To reward high performers through the increment process
• To reward high aptitude through lateral growth opportunities and / or promotions
• To collate information on understanding training needs of the Company
• To manage low performance and initiate necessary action such as developing a
performance improvement plan or in certain extreme cases, initiate termination of
services
• To analyse overall productivity of employees in various departments
• To provide feedback for employee’s personal development
Procedure
• Every employee will fill in performance appraisal form specific to his / her role and
submits the same to the reporting supervisor
• Reporting supervisor will conduct a one-on-one meeting to discuss the appraisal
form and rating against each performance parameter. Manager rating column will be
filled in at this stage.
• Agreed rating will be posted after Manager ratings are posted
• Employee must participate in the process and communicate his views on the
appraisal ratings and comments made by his supervisor
• Supervisor and employee to sign off performance appraisal form
• Appraisal form duly signed to be submitted to Human Resources for further action
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• Every appraisal will be moderated by HR to ensure process compliance
IV. ATTENDANCE AND LEAVE POLICY
This policy has been drafted to facilitate optimal utilization of resources and to support
attendance and leave retrieval process.
The Organization uses electronic punching card attendance recording systems which are
installed as time keeping tools to record daily attendance and leave. Employees are expected
to record their first time in, last time out in the attendance recording systems. In case of the
leave availed the database will be updated when the leave is approved. All employees are
requested to ensure that communication in form of a phone call, text message or email is
initiated with their immediate head in case they are likely to avail any leave or report late to
duties as per the norms stated in this policy document.
Working days & weekly offs: “All offices remain open on from Monday -Friday. However,
employees must note that they may be required to work weekends and it is common to work
longer hours. Offices can follow working week according to operational requirements. All
such requests can be sent by the Regional Head for approval to the Directors of the Company
in writing. A copy of final approval should be marked to accounts and human resources by
the Regional heads. It must be ensured that the minimum hours in a working day are adhered
to. The human resources and accounts function must be informed about any such norm.”
Office timings: Standard office working hours will be from 10.00 am to 6 pm from Monday
through Friday. In case the employee is travelling or is on tour and will not be able to attend
office he/se shall reprt it to the immediate senior and mark a mail to Human resource
department.
Late arrival / Early Leaving: “The Company understands that there may be cases when an
employee may request either for leave early or to arrive late to work due to personal
demands. All such requests must be communicated in a timely manner via email, sms or a
phone call to the reporting supervisor. In case, an employee reports late to work for 3 or more
than 3 times in a month, half a days’ leave will be deducted from his / her salary as unpaid
leave. An employee who leaves for the day one hour before the completion of his total
working hours for the day must do so with prior approval from the reporting supervisor. Up
to 2 such instances are allowed in a month. In case of m Employees must report to work at
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the stipulated working hours as mentioned in this policy. In case an employee is not in a
position to report to work at the stipulated time. He / She must intimate the concerned
supervisor at least 2 hours before the stipulated reporting time. Any failure to do so will be
considered as uninformed absence from work and treated as unpaid leave. Any trends
observed towards uninformed absence from work will call for disciplinary action.”
Holiday List: A fixed list of paid holidays is circulated to all employees on an annual basis.
The period covered in this list will be from January 01 to December 31. The holiday list may
vary from state to state however; the number of holidays listed will be the same.
Paid Leave and Leave categories:
- Right of leave- leave cannot be claimed as of right and when the exigencies of
servicing the customer so demand, leave of any description may be refused or revoked
by the Company.
- Earning of leave- except as otherwise provided in these rules leave shall be earned
by duty only
- Recall from Leave: Any staff member can be recalled from leave if the exigencies of
servicing a customer so demand. In such cases if the employee is out of station, the
company will bear the TA/DA of the employee.
Types of Leave:
1. Casual Leave: Every employee can take a maximum of 10 Casual leaves in a year.
Casual leaves can’t be clubbed .Leave cannot exceed more than 3 consecutive
working days. Any requests for casual leave must be received at least one working
day before the commencement of the leave unless under absolutely unforeseen
reasons controlled by natural forces.
2. Privilege leave or Earned Leave: The leave account of an employee of the
Company shall be credited with 30 days earned leave in calendar year post
completion of 3 months of continuous service. Privilege leave or earned leave cannot
be clubbed with Casual leave and it will be continuous (holidays will also be
counted). Application requesting for privilege or earned leave must be received by the
reporting supervisor via email at least 60 days before the commencement of such
leave.
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3. Sick Leave: Leave availed on account of medical reasons will be termed as sick
leave. An employee can take a maximum of 5 days as sick leave in a year.
Application for sick leave, for 3 or more than 3 consecutive working days must be
supported by a medical certificate. In such a case, a fitness certificate must also be
submitted at the time of resuming duties. All medical documents must be certified by
a certified medical practitioner only.
4. Unpaid leave: Any leave other than mentioned above will be declared as unpaid
leave if there is no prior information from the employee. Any type of leave availed by
an employee during the first three months of employment (probation period) will also
be considered as unpaid leave and will call for necessary deductions from the
remunerations.
5. Maternity leave: Granting of Maternity leaves will be strictly as per Maternity
Benefit Act. No female employee will be entitled to any maternity benefits unless she
has actually worked with the Company for a period of at least 5 months in the twelve
months immediately preceding the date of her expected delivery. Any female
employee proceeding on maternity leave will be eligible for six weeks paid leave
prior to the date of delivery and six weeks of paid leave following the date of
delivery. The maximum leave granted for maternity benefit shall be twelve weeks.
The time for availing the aforesaid period of 12 weeks may be altered as per medical
reasons. Any leave taken over and above the 12 weeks granted and the accrued annual
leave will be unpaid leave. Any unpaid leave taken during one calendar year can be
for a maximum period of 1 month.
Leave for miscarriage: In case of miscarriage or medical termination of pregnancy all
female employees shall on production of such proof as may be prescribed be entitled
to paid leave for a period of six weeks immediately following the day of her
miscarriage or on her medical termination pregnancy as the case may be. Maternity
Leave extension arising out of illness related to pregnancy / delivery / premature birth
of child (miscarriage, medical termination of pregnancy or tubectomy operation) shall
on production of such proof as may be prescribed be entitled to a period of one month
paid leave in addition to the 12 weeks as mentioned above.
Accepting any service or employment while on leave: - A staff member on leave shall
not take any service or accept any employment without obtaining the permission of
the Company.
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Overstayed after expiry of leave: – Employees must report to work on the date
committed in their leave application. In case, an employee is not in a position to
resume duties as committed, such an employee must initiate necessary
communication with the reporting supervisor and human resources department. An
employee who continues to remain absent under such circumstances will not be
entitled for any remuneration for the period of such absence and that period shall be
debited to his leave account as per the number of days for such a leave availed. Will
full absence from duty after the expiry of leave may render a member of the Service
liable to disciplinary action. It must be note that any leave – paid or unpaid must be
applied for and approved before being consumed.
Norms applicable for all types of leave:
1. The Company shall encash the leave at end of the year.
2. Leave calculation at all times will be on a pro-rata basis. Any excess leave will be
deducted on a pro-rata basis at the end of the leave year.
3. Calculation of leave days is continuous, barring holidays and weekly offs.
Procedure
V. EXIT POLICY
The organization has a regular turnover of employees due to various reasons such as
retirement, voluntary retirement, and resignation etc. from time to time. Feedback is obtained
from the employee on occasions of separation from the organization. Such feedback on
matters that effect well-being of the people is useful in improving the organization in respect
of HR Policies and practices.
This policy has been drafted to explain and manage the outflow of employees from the
organization from the time of resignation and forward.
Resignation from the services from the organization is the process through which an
employee, whether confirmed or probationary, formally communicates to the organization
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that he / she desires to discontinue his employment. Such an employee may be referred to as
‘resignee’.
For all employees who have completed over 3 months and are confirmed employees, a notice
period of at least 60 days must be provided. The notice period of 60 days is a critical period
for the organization in order to identify, recruit, train and facilitate hand over of tasks to a
suitable incumbent.
In case an employee is unable to serve a notice period of 60 days, he / she will repay the
organization salary equivalent to the number of days of notice period not served unless
agreed upon and approved by the Management otherwise. A request must be put in by the
resignee for any such matters.
Hand-over of tasks and responsibilities:
It is expected that during the notice period, the resignee will provide support in identifying
and training a suitable replacement for his / her role. A resignee is expected to hand over
tasks and responsibilities to a suitable incumbent identified by the reporting supervisor and
the management.
Handover must include but not limited to – all office assets issued to the resignee in order to
carry out his/her role and responsibilities, key contact information, key communication -both
internal and external, all future upcoming tasks as assigned to the resignee before the date of
resignation, documents, passwords, status on performance of team members (as applicable),
internal & external documentation & reports, all office stationary and visiting cards collected
as a part of the role and responsibilities executed in the organization.
It is mandatory to submit the exit formalities checklist by the resignee on or before the last
working date. Non-submission will be construed as non-compliance to this policy and may
have monetary / non-monetary repercussions.
Leave post resignation of services: The resignee will not be allowed to take any leave, either
paid or unpaid during the notice period. Any leave which may have been sanctioned before
the date of resignation may be reviewed and may be revoked depending on operational
requirements and / or depending on the role of the resignee in the organization
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Leave balance will be calculated till the date of resignation on a pro-rata basis. Leave balance
cannot be adjusted against notice period. In cases where leave consumed exceeds pro-rata
leave balance, the same will be adjusted from the remuneration.
Remuneration processing for a resignee: Remuneration of a resignee will be kept on hold
from the date of resignation and processed in the same month as the last working date of the
resignee provided that the resignee has followed all norms as outlined in this exit policy.
The resignee is expected to clear all reimbursements and advances from the Organization
before the last working date. Remuneration may be kept on hold or recovered from the
resignee, in case it is found that there is an outstanding amount to be received by the
Organization from the resignee.
Exit documentation: For a resignee who has followed all norms as outlined in policy, exit
documentation in the form of – Acceptance of resignation, a relieving letter and experience
certificate will be issued after 30 days from the last working date of an employee.
Annual benefits such as bonus and / or incentives will be disbursed to a resignee on a pro-rata
basis only if he / she meets the eligibility criteria, provided that the resignee has completed at
least 12+3 months from the beginning of the financial year.
For probationary employees, exit norms have been outlined in the Probation Policy of the
Organization.
Termination of services of an employee by the Organization: This is the process through
which the Organization communicates to the employee whether confirmed or probationary
that the Organization no longer requires the services of the employee. In cases of termination
of an employee’s services by the Organization, the Full and Final settlement disbursement
will solely be at the discretion of the Management..
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VI. CODE OF CONDUCT:
The Code of Conduct has been designed to present organization’s expectations to its
employees. It is intended to help the organization build a progressive and conducive work
culture which motivates employees to be a part of it and grow it further
Office Decorum: The office environment must be maintained such that it reflects a
professional work environment. The tone of communication with people both - internal or
external must be respectful. The Organization discourages discrimination on basis of caste,
creed, religious preferences, nationality and gender.
Communication: Communication can be written, oral or verbal. It may be internal or external.
In all cases, communication must be consistent and professional. The language used for
internal communication may be regional however; preferred language for external
communication with clients is English. All paper work will be done in English only.
Dress code: Business formals should be worn on all working days.
Disciplining In order to make the office, a place where employees want to come back to, it is
essential that healthy social and professional relationship is maintained between the
Management and its employees as well as among its employees. This is possible only if all
employees observe proper conduct in work related matters.
However, proper conduct does not mean the work place is strict & has no room for comfort.
It simply means working, co-operating and behaving in a normal and orderly way. Discipline
indeed is an employee’s self-control which prompts him/her to willingly comply with the
Organizational standards of behaviour.
All employees are requested to maintain a low tone and courteous work environment. You
should extend the courtesy of calling or requesting for time before approaching your
colleagues in the office.
Employees will observe the Organization’s instructions and follow the policies and standards
laid down from time to time.
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CONCLUSIONS
The Policies of the company facilitates for all round growth of individuals by providing them
with the best training and an environment to grow professionally. Policies clearly lay down
the rules and regulation according to which the employee is supposed to work. This helps in
maintain consistency and transparency in the organization and provides ethical basis of
functioning.
When the employees are aware of the rules and code of conduct of the organization and there
in mutual respect for each other it is easier for them to work in teams and foster the spirit of
it. Policies help minimize the negative competions in an organisation as the rules for
incentives, increment and promotion , all these are rules equitable, scientific and objective
system are laid out previously which have to adhered.
The Policies help in recognizing contributions in time and appropriately, which helps to
maintain a high level of employee quality and that is directly proportional to the growth of
the company. It is vital that all the employees are aware of the policies being implemented in
the organization.
Policies of the company should cover various benefits for its employees and focus on areas
like talent acquisition and retention, training and development, compensation management
and social security. All these factors help in overall grooming of the employees and help
achieve professional satisfaction.
A companies policies should aim at two basic things i.e. achievement of the company’s goal
and making its employee happy and satisfied. Policies should be designed keeping in mind
the industry standards. The company should be very careful about the security and privacy of
the data provided by its employees. Stringent rules and protection should be applied to all
such data so that the employee has sense of security.
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SUGGESTIONS &RECOMMENDATIONS
On the basis of my interaction with the company and after going through its policies and
policies of some of the top companies I have following few suggestions for the company:
Performances of the employee should be evaluated more frequently and at more levels
which will ensure that there is no partiality and complete transparency.
Systems such ‘mentor system’ or ‘buddy system’ should be introduced which will
help the employee in their daily job and also assist them in career planning.
Company should follow more relaxed and interactive network of communication
which will help in increasing the comfort level of the employee with each other and
make office spaces livelier.
Even though the recruitment process is highly appreciable, introduction of
psychometric test and attitude analysis will help the company to recruit the best
available.
A more frequent and flexible reward system should be adopted wherein the reward
must not only be monetary.
The company should invest in soft skill trainings , it will help in personality
development and improvement of communication skills.
Counselling cells or sessions be conducted to help the employees to manage stress
and solve any other problem which may hamper their performance.
Company should design policies for social security of the employees. Measures such
as medical facilities to employees and their dependents including parents should be
considered. Also pension policy, retirement policy should be considered.
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REFERENCES
Brochure and prospectus of Trustline.
Employee hand book of Trustline.
Secondary data and files of Trustline.
Trustline: http://www.trustline.in
Human Resource Management (7e)- Text and cases by K Aswathappa
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