WE LIKE Mr. NIKHIL GHARAT

HPGD/JL15/2769

1.NEW ROLES OF HR AND SUPPORT FUNCTION -BY PROF. CHINMAY KAMAT

WE TUBE

Various Aspects of HR1. Evolving HR

Evolution of the HR Functions : - Personal Department ( 1960 to 1980) – HR had limited

role in this period of evolution - Personal Benefits Strategic HR (1990) - Recruitment - Learning & Development - Organizational Design - Total Compensation - Communication Talent Management (Now) - Competencies Management - Performance Management - Succession Planning

The role of HR Manager is shifting from that of a protector and screener to the role of a planner and change agent .

The name of the game today in business is Personnel. HR Professional must learn how to manage effectively

through Planning, Organizing, Leading and Controlling the HR and be Knowledgeable of emerging trends in Training and Employee Development.

Need for Change1. Attrition 2. Competition3. Workplace Diversity4. Change in Global Thinking

2. Creative Activities Conducted by Business HR

There are various activities conducted by HR as below :-a) Innovative induction that provide value adds :- Cutting out the formality Reducing monotony Sharing best practices and visionb) Fun Session : - Fun Fridays Activity sessions like games Team lunch / dinnerc) Team building sessions : - In-house sessions Outbound training sessions Company picnicsd) Rewards and Recognitions Quarterly reward & recognition sessions Process specific reward & recognition on the operations floor Yearly town hall

3. Innovative RecruitmentThere are various innovative ideas for recruitment as follows :- Campus Job portal sites (e.g. Naukri.com) Job exhibitions Referrals 4. Value adds by Training & DevelopmentBusiness value will added by following factors :- By providing training & development Creating custom training content (Online / Offline / Blended

Cources) Integrating online and Instructor Led Training (ILT)5. Future roles of HRThere are future roles of HR such as :- Internal Consultant Talent Manager Vendor Manager

1I.CHANGING ROLE OF HR -BY PROF PERCY VAID

Talent Retention HR should conduct monthly review with the employees to

understand their issues. Skip Level Meetings(meeting with manager’s manager)

should be conducted once in 2 to 3 months

Process Improvement Technology should be used in recruitments and PMS

(Performance Management Systems) to Increasing Productivity.

Remote candidate can be presented with recorded questions and while the candidate answer these questions everything would be recorded as video then HR can review everything like answer, body language etc.

Same thing can be applied to review meetings; after review meeting with manager in case of any discrepancy HR or Skip level manager can review it.

Leadership development Even entry level employees are expecting leadership

programs. HR has to understand the level and required training for

those levels as per the competencies required. HR should encourage the employees to learn and adapt. Experimental knowledge share should be in the organization. Learning and Development(L&D) should be as per the need

of the business. Just in time learning should be available for employees i.e. no

class room learning like mobile device, virtual learning. HR should motivate employees to take part in learning. Virtual simulations - give a virtual identity online to the

employee like project manager(or the aspiring role) and ask the employee to act like that role.

The Gen Y Workforce  Open Work environment BYOD - Bring your own device to work Freedom to work with focus on end results 24 * 7 work culture - for flexibility like work from

home or anytime login logout

Succession Planning HR should identify the business critical role and

ensure the talent pipeline for the same.

Globalization Handling diversity Cross cultural sensitization Dealing with a highly mobile workforce 

Changing Trends Permanent or Temporary work preferences Managing High Potential Talent to Go

Retain, give then different role, profit sharing for ideas etc

Measuring HR performance Matrix -- Access impact of HR activities on business Analysis of data from PMS(Performance management

System), exit interviews, trainings and feedback forms, etc. One integrated dashboard to publish from HR for their

activities.

III.EFFECTIVE TIME MANAGEMENT -PROF:-

MS.SURUCHI

The effctive time mangement :-1.Make daily plan everyday (Take 5 minute everyday start the plan of morning)

2.Plan your day.

3.We don’t have time everyone say because they have no take time on planning for day.

4.Have to do list at beginning of everyday and always avoid last minute.

5.Keep seprated personal to do list and professional to do list .never mix both work.

Prioritize:-Always first urgent work

In Daily To-do list always work order like important assign time and resource or per

Every task have weight age of work.

Time management mantras

Assign your own turn around time (TAT)

Every task doesn't have to be completed together on Same day (If now not urgent work but important for next day)

Multi task judiciously 1.On daily plan keep separate and try to club the task.

2.Club task where resources/location/vendor are overlapping.

3.Where this task –like have total 10 Task in day.

3(A). 3 Work of Travel/travel 4 Work for food/hotel related. 3 Work for bill/payment

4.Always make plan but very systematic way to make work easier and efficient for as well time saving.

5.Say No to non essential task.

IV.SCREENING EMPLOYEES -PROF MS.PRIYA NAIR

INTRODUCTION Background screening is quickly becoming a standard practice in many

workplaces across the world. Organizations are continually on the lookout for New ways to mitigate their risk. Researching the histories and stated capabilities of employee is always a sound

business practices.

WHY SCREENINGa) COMPLIANCE Employers consider background checks a part of their ongoing safety and

security program. In sectors like IT/ITES, no employee is assigned a client project unless his

screening report comes out clean.b) BETTER SAFEGUARDING ORGANISATIONAL ASSETS Employees potentially have access to property of great value from physical

assets to valuable information. Background screening can help minimize the possibility of theft or corporate

espionage.c) HELP PROMOTE SAFETY Background screening helps minimize the possibility of violence at workplace

by checking for past criminal behaviour.

d) HIRING THE BEST EMPLOYEES OR SELECTING THE IDEAL APPLICANTS

Background screening helps establish that the candidates are qualified for the positions for which they have applied.

It can also weed out candidates that were dishonest in their resumes or CV’s, helping bring in trust worthy individuals.

e) AVOIDING LONG TERM COSTS Recruiting and on boarding is an expensive process. By screening employee, we can ensure that individuals are properly

qualified and can thus reduce turnover. We can also uncover potential costly red flags like histories of

absenteeism or poor work performance.f) MAINTAINING GOOD REPUTATION Hiring mistake should not turn into a public relations disaster. Just one employee who wasn’t qualified or had a criminal history can

tarnish a carefully built reputation.g) BUILDING TRUST WITHIN ORGANISATION Performing background checks means commitment to integrity and

safety of employees These values help underscore the employees faith in the organisation.

WHAT TO SCREEN?- A background check can incorporate any or all of the following :- Educational background Employment history Criminal record Address verification Pan / passport verification Drug test Reference Credit history WHOM TO SCREEN? - Conducting a background check on the below individuals is a sound

business practices :- Prospective and current employees Extended workforce temporary and contract staff Executive level and other high-profile candidates Drivers and security staff

V. RECORD MANAGEMENTProf. Ms.JANITA RAIKAR

OVERVIEW OF RECORD MANAGEMENT

Record management▪ Record means proof of existence and that can be used to recreate or prove state of existence.(Complies various bill,Data,expenses )

▪ In new business operation team record management is storage of application form.

Handling preserving

Need of integrated system

Proposed integrated system

Automation advantage

Cost reduction and revenue

Before storing it to the external vendor few steps of RMC activies are carried out-in house.

▪ In warding & indexing (Term wise)

▪ Sorting & Filling

▪ Dispatch (to external vendor)

▪ Logical indexing help you to take a decision in storing the document.

▪ Need of integrated system:-

▪ As the business grow manual indexing application forms becomes tedious and cousming .

▪ No online summary & No backup taken via server.

Teams involved in automating the RMC activities.

- Management- IT Team- RMC Team- Processing in-house vendor

▪ Brain storming session was held as it was first system in RMC deptt.

▪ Database management & data filtering was done.

Training

▪ New automated RMC helps in increasing productivity ,less space required for storing as all documents got indexed.

▪ Cost reduction took place as elimination of CD backup.

WE LOUNGE

1. Mr. Damodar Hall. CEO- Reliance Fresh.

About Him Mr. Damodar is the most admired grocery retailer. He is the author

of the book Super Marketwala. He is an IIM-B alumni. He has worked in top companies like HUL, Future group and is a

co-founder of D-mart. He learnt the ropes of business from Mr.Kishore Biyani and

R.K.Damani. He learnt not to believe in precedence and rely on customer

feedback for your business. Reliance retail was set up in 2006 . Its core growth strategy is

backward integration and developing a strong value chain starting from farmers.

It believes in the philosophy of farmer’s welfare, fair practise and to give platform to small and new brands.

Key learning

He states that customers are emerging in assertive way ,they will have their way.

He states that one should develop the habit of winning customers ,observe customers and work with customer in the centre.

This will reduce learning cost as well as cost of error. Rising aspirations of the customers, physical mobility as well as

the digital mobility have empowered the customers. So companies have to be nimble footed and think ahead of the

customers. India is the best place to be right now due to consumption

growth,economic growthand confidence of the customer.

2. Ms. Debadutta Upadhyay CEO & Founder of Timesaverz

About Her A working mom struggling to get work life balance and hence

left a cushy corporate job to help others like her find reliable help to outsource daily chores through Timesaverz.com

Studied Journalism and wanted to join Times of India, though it was fortunate for her to join Times of India but her job wasn’t related to Journalism at all, she got herself in the sales department.

Met Neville Taraporewalla Yahoo’s country head back then who dint want to take people from Times of India but she made it through and still works with him.

She shared the Idea of Timesaverz and that is how it happened. Neville was the one who started the Angel round of funding and today he is now the board observer.

The Company:

Timesaverz.com in India’s first marketplace for home-services. Headquartered in Mumbai, and operational in the Twin cities of Mumbai and Pune, the company is well funded for the next phase of growth by group of Angel Investors and has aggressive plans of expansion into multiple cities shortly.

Timesaverz is an on-demand home services platform that helps busy individuals get their home jobs like cleaning tasks, handymen jobs, appliances repairs and services, at-home salon services and laundry management done through verified, curated and trusted service partners in and around their locality. Mumbai is a place where you can find anything, literally, but not time. Our day is always packed with many to-dos and spare time is wasted in travelling and doing other tasks which leave us with no ‘me-time’. But now you can indulge in hobby while cutting off to-dos from your list. Welcome Timesaverz.com, a new service which will take care of your small chores.

WHAT SERVICES DO THEY OFFER?

Right from soft services like arranging for at-home path tests, babysitting, personal shopping to taking care of appliances repair and service, spring cleaning and civil works like electrical and plumbing, they do it all. They also help us with co-coordinating for government documents; which most of us find very troublesome. That’s not it, if you need help planning events like birthday parties, you can call them.

HOW DOES IT WORK?

Once you send them a job request through a phone call or website, the customer servicing team co-ordinates with the nearest skill-set verified agent available around your residence to get the job done. The user is sent confirmation of time and agent details and at the designated time, the agent reaches the user’s place in proper uniform. On completion of job, a proper feedback is taken from both, you as well as the agent.

3. Mr.Ninad Karpe. CEO- Aptech Limited.

Key learning

Ninad karpe is the managing director & CEO of Aptech limited. He was earlier MD (managing director)

CA (formerly known as computer associates for India and SAARC.

He held numerous management responsibilities in CA India that include setting up offices in managing marketing. PR,techanical service,HR,operation and finance

In his capacity as managing director of the India operation of the World fourth largest software company.Ninad responsibilities included driving. The adoption of CA’s technology and broadening and strengthening strategic partnership in India

Excitement to change for grow in skill .

We make to changing the student style of learning.

Create the win-win situations in the student.

You not prior required for any business.

From passion can start any business in various format.

When start Aptech as computer education in india.but now its only 9% of the education system.

Now take new initiative to IT Centre to Beauty Centre its change.

Slowly we also add some more product as education to grow the business.

Welingkar student Exam total responsibility of Aptech.

For globally challenging 70% content in English and 30 % in local language.

Passionate and driving to Speed in business Ninad karke like manager quality.

Today we can work from anywhere. Just required passion to do.

Asses the world and take opportunities to grow the bussiness.

Now total business of Aptech limited is 100 crore.

News wire

1. HUMAN RESOURCE MANAGEMENT (HRM) - DEFINITION AND CONCEPT

The process of defining HRM leads us to two different definitions: - The first definition of HRM is that it is the process of managing people in organizations in a structured

and thorough manner. This covers the fields of staffing (hiring people), retention of people, pay and perks setting and management, performance management, change management and taking care of exits from the company to round off the activities. This is the traditional definition of HRM which leads some experts to define it as a modern version of the Personnel Management function that was used earlier.

The second definition of HRM encompasses the management of people in organizations from a macro perspective i.e. managing people in the form of a collective relationship between management and employees. This approach focuses on the objectives and outcomes of the HRM function. What this means is that the HR function in contemporary organizations is concerned with the notions of people enabling, people development and a focus on making the “employment relationship” fulfilling for both the management and employees.

Following are the important concepts of Human Resource Management:  Importance of HRM Scope of HRM Various Processes in HRM What is Human Resource Planning ? The HRM Function Functions of a Human Resource Manager Staffing Role of the HR Manager Role of HRM in Leadership Development Role of HR in People Empowerment Talent Management and HRM Performance Management as a HR Management Concept Hiring Strategies Retention Strategies

2. TIPS FOR A CAREER IN HUMAN RESOURCE MANAGEMENT

Followings are tips for one if pursuing a career in human resource management:1. Choose the B-School wisely: First, if you want to become an HR professional, choose your institutewisely. This means that when you want to be a HR professional, your choice of the MBA institutematters a lot2. Summer internships and placement strategies: Once you have entered the MBA program withspecialization in HR, try and get a summer internship in a premium organization that has cutting edgeHR policies. Getting into companies for internships and placement would give you the benefit ofworking directly with HR policy formulation and understanding the nuts and bolts of how HRprofessionals work3. Stepping into the real world: the next phase is when you are actually recruited as an HR professionalin a company. You need to remember that you are not straightaway given responsibilities but areinstead asked to apprentice with the senior staff. Real world experience is best gained by observationand practice.4. Closing thoughts: one of the most important skills that hr professionals can have is to respect theboundaries (physical and mental) between people. Indeed, we can say that the differentiating factorthat determines success or otherwise of HR professionals is to know the difference between what ispersonal and what is professional.

3. PROCESSES IN HUMAN RESOURCE MANAGEMENTEach organization works towards the realization of one vision. The same is achieved by formulation of certain strategies and execution of the same, which is done by the HR department.The following are the various HR Processes: 1. Human Resource Planning : Generally, we consider Human resources Planning

as the process of people forecasting. Right but incomplete! It also involves the processes of Evaluation, Promotion and Layoff.

2. Employee Remuneration and Benefits Administration: The process involves deciding upon salaries and wages, incentives, fringe benefits and perquisites etc. Money is the prime motivator in any job and therefore the importance of this process. Performing employees seek raises, better salaries and bonuses.

3. Performance Management : It is meant to help the organization train, motivate and reward workers. It is also meant to ensure that the organizational goals are met with efficiency. The process not only includes the employees but can also be for a department, product, service or customer process; all towards enhancing or adding value to them.

4. Employee Relations : Employee retention is a nuisance with organizations especially in industries that are hugely competitive in nature. Though there are myriad factors that motivate an individual to stick to or leave an organization, but certainly few are under our control.

4. FINANCIAL MANAGEMENT >> TYPES OF COSTING SYSTEM

Some costs are direct while others are indirect, direct costs can be identified to a specific products but indirect costs which are not identifiable to specific products, need to be allocated on some objective and rational basis for product costing and pricing which can be justifiable to customers. Costing systems are the systematic allocation of cost to products. It can be used for planning, decision making and control purpose as well.There are various important types of Costing System as under :1.Absorption Costing System : -Absorption costing system is the method of allocating overheads (Fixed and variable) to products based on pre-determined absorption rate.

2.Marginal Costing System: - Marginal costing system identifies variable and fixed overhead costs separately. It identifies different behaviour of fixed and variable costs.

3.Activity Based Costing System: - It identifies activities, like machine running costs and invoicing customers, across whole business instead of departments and uses cost drivers (variable or item which incurs cost), like machine hours (volume based), number of invoices (transaction based).

4.Target Costing System : - This is a modern methodology towards costing. It attempts to find market price of the similar products in advance. Required rate of return is deducted to arrive at target cost. This cost is different from the actual cost.

5.Backflush Costing System : - Backflush costing system is different way of allocating costs to products. It does not use traditional inventory bookkeeping which tracks inventory movements from raw material to work in process (WIP) to finished goods. It directly recognizes the cost to finished goods account, all previous bookkeeping is flushed.

6.Throughput Costing System : - In modern, business environment majority of the costs like labor and overhead are fixed due to employment legislations, automation and long term contracts for energy and others. This leaves only material cost as variable which can be controlled in the short term.

5. 7 BASIC RULES FOR CREATING IMPRESSIVE COVER LETTER

The HR not only looks at your resume, but also expects a good and impressive cover letter. The language, format, font and style among other things matter while creating a cover letter.7 Basic rules for creating impressive Cover Letter: -1.Introduction : - It is always better to mention the source of the job opening in your cover letter. Mention the reason for the job application and specialization information. Link your experience with the job profile you are applying for in the first paragraph itself.

2.Body and content: - The content of your cover letter plays a major role. What to include and what not to include is a difficult decision to make. Make sure you add the years of work experience, name of the companies you worked for, time duration etc. Also, highlight the major projects that you are particularly proud of. 

3.Length of the content: - Make sure your content is precise and to the point. Remember to limit your content to only one page.

4.Correct information: - You need to mention the correct job title, month, date on your cover letter, company name and address the application to the recruitment manager. These are the very basic rules that may easily be forgotten while re-purposing your cover letter for different companies.

5.Language: - Companies always provide a detailed job description for the position you have applied. Make sure you read it carefully. This may help you set a professional tone for typing your cover letter. Using a language tone that is relevant to the job position creates a good impression.

6.Font: - Never use fancy looking fonts while making a cover letter or resume.7.Proofread: Read your cover letter two or three times before sending it to the company. Do a spell check. If possible, request your friend to read your cover letter and get their opinion.

6. 5 INTERVIEW HACKS THAT WILL GIVE YOU AN EDGE (NO CONFIDENCE REQUIRED)

Some actions to help us get there :-1. Bulletproof your resume: - Honesty-to-the-point-of-exposing-

vulnerabilities won’t win you extra points on a resume. 2. Set clear time limits: - Once the agreed-upon time limit has been

reached, use your judgment to decide whether to stretch for 5-10 minutes more. If not, make your exit.

3. Refuse to share salary details: - Any hiring agent can visit sites like Glassdoor and others to get a pretty accurate idea of what you made at your last job. The only reason you’re going to be asked this question is to preemptively curb salary expectations/drive your price down. If asked, respond with, “I don’t feel comfortable discussing confidential salary details, but would love to get a read on what the company’s expected salary range for this position is for someone at my level.”

4. Get a read on where they are in the hiring process: - Before agreeing to “one more” interview, get a read on where they are in the hiring process, and exactly what they want to see from you in this next engagement. If they can’t or aren’t willing to provide this information, consider bowing out.

5. I’m interested in this job, and want it! : - As the interview’s wrapping up, take a second to bring it up. Why you’re excited about the role. Why you’re excited about being a part of what they’re doing

7. 10 THINGS TO REMOVE FROM YOUR RESUME

The following things to remove from your resume:

1. Replace the “Objective” statement on your resume with “Professional Profile.”

2. Eliminate superfluous or “fluff” words.3. Watch your grammar.4. Include one telephone number rather than multiple numbers.5. Do not include discriminating information.

6. Keep information on your education specific to the degree received, major, institution attended, and if appropriate, your GPA.

7. Include only experiences that are relevant to the job. 8. Eliminate technical skills for basic software programs. 9. Do not include references unless requested.10. Maintain a reasonable length for your resume.

8. BASICS OF CASH MANAGEMENT – CASH MANAGEMENT FUNCTIONS

The term “Cash” with reference to management of cash is used in two ways. In a narrow sense cash refers to coins, currency, cheques, drafts and deposits in banks. The broader view of cash includes near cash assets such as marketable securities and time deposits in banks. Cash management is one of the key areas of working capital management. Cash is the most liquid current assets.Functions of Cash Management : -1.Cash Planning : - Cash planning is a technique, which comprises of planning for and controlling of cash. It is a management process of forecasting the future need of cash, its available resources and various uses for a specified period.

2.Managing Cash Flows: - The heading simply suggests an idea of managing properly the flow of cash coming inside the business i.e. cash inflow and cash moving out of the business i.e. cash outflow. These two are said to be properly managed only, if a firm succeeds in accelerating the rate of cash inflow together with minimizing the cash outflow.

3.Controlling the Cash Flows : - Cash controlling becomes essential as it increases the availability of usable cash from within the enterprise. As it is obvious that greater the speed of cash flow cycle, greater would be the number of times a firm can convert its goods and services into cash and so lesser will be the cash requirement to finance the desired volume of business during that period.

4.Optimizing the Cash Level:- The foremost need of maintaining optimum level of cash is to meet the necessary requirements and to settle the obligations well in time. Optimization of cash level may be related to establishing equilibrium between risk and the related profit expected to be earned by the company.

5.Investing Idle Cash: - Idle cash or surplus cash refers to the excess of cash inflows over cash outflows, which do not have any specific operations or any other purpose to solve currently. Generally, a firm is required to hold cash for meeting working needs facing contingencies and to maintain as well as develop goodwill of bankers.

9. SIGNIFICANCE OF BOP DATABalance of payments data of home country and host country are have significance to government officials, international business managers, investors, and consumers, because such data influence and are influenced by other key macroeconomic variables such as gross domestic product (GDP), employment, price levels, exchange rate, and interest rates. Therefore balance of payments may be used as an indicator of economic and political stability.Businesses need BOP data to anticipate changes in host country’s economic policies driven by BOP events. BOP data may be important for the following reasons: 1.    BOP indicates a country’s financial position vis-à-vis foreign countries,

thereby a country’s ability to buy foreign goods or services. 2.    BOP is important indicator of pressure on a country’s exchange rate, and

thus on the potential of a firm trading with or investing in that country to experience foreign exchange gains or losses. Changes in BOP may presage the impositions of foreign exchange controls.

3.    BOP data helps in knowing the changes in a country’s BOP may also signal imposition (or removal) of controls over payments, dividends, and interest, license fees, royalty fees, or other cash disbursements to foreign firms or investors.

4.    BOP data helps to forecast a country’s market potential, especially in the short- run. A country experiencing a serious BOP deficit is not likely to import as much as it would if it were running a surplus.

5.    BoP data can also signal increased riskiness of lending to particular country and it also helps to in the formulation of trade and fiscal policies.

10. FINANCIAL MANAGEMENT » TYPES OF INTEREST RATE RISK

Types of Interest Rate Risks : -1.    Rate Level Risk2.    Volatility Risk 3.    Prepayment Risk4.    Call/Put Risk5.    Reinvestment Risk6.    Basis Risk 7.    Real Interest Rate Risk