ajay hrm project

8/2/2019 AJAY HRM Project

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Concept of Human Resource Audit :Human Resource Audit means the systematic verification of job analysis and design,

recruitment and selection, orientation and placement, training and development, performance

appraisal and job evaluation, employee and executive remuneration, motivation and morale,

participative management, communication, welfare and social security, safety and health,

industrial relations, trade unionism, and disputes and their resolution. HR audit is very much

useful to achieve the organizational goal and also is a vital tool which helps to assess the

effectiveness of HR functions of an organization.

Scope of Audit:

An HR audit must cover the activities of the department and extend beyond, because the

peoples problems are not confined to the HR department alone. Thus, the audit should be

broad in its scope. It must evaluate the personnel function, the use of its procedures by the

managers and the impact of these activities on the employees.

Specifically, an HR audit covers the following areas:1. Audit of human resource function,

2. Audit of managerial compliance,

3. Audit of the human resource climate, and

4. Audit of corporate strategy.

Audit of Human Resource Function

This involves audit of all HR activities discussed till now in this book. For each activity, the

auditors must

(i) Determine the objective of each activity,

(ii) Identify who is responsible for its performance,

(iii) Review the performance,

(iv) Develop an action plan to correct deviations, if any, between results and goals,(v) Follow up the action plan.

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The following 15 criteria would help measure effectiveness of the HR

function of an organization. Each statement has a four point rating

scale varying from very true to not true :

01. In your company, all issues are closely linked to every other business process.

02. The HR department is represented in strategy-building sessions of the top management.

03. HR issues are discussed explicitly when strategic plans are formulated.

04. The performance of the HR department and of the organization are linked.

05. The HR function is given as much or more significance, as other functions.

06. HR managers have sufficient power to suggest strategic initiative to the top management.

07. The HR department can easily compete for funds and management involvement.

08. The structure of the HR department is effective in delivering competent services.

09. Line managers are recruited along with trained specialists in the HR department.

10. The services of the HR department are equally available to everyone.

11. The head of the HR department is always accessible to all employees.

12. The HR department plans the companys manpower needs proactively.13. The HR department conveys organizational goal to everyone.

14. The HR department links appraisal and compensation to corporate objectives.

15. The HR department meets the companys and individuals training needs.

16. The HR department disseminates information down the ranks.

17. The HR department does not handle staff-welfare, canteens, or payrolls management.

18. The HR department has knowledge qfbehavioura1 sciences and industrial psychology.

19. The HR department gets feedback on its performance from other employees.

20. HR practices are audited, their costs computed, and then effectiveness evaluated.

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Benefits of HR Audit:

1. Identification of the contributions of the HR department to the organisation,

2. Improvement of the professional image of the HR department,

3. Encouragement of greater responsibility and professionalism among members

of the HR department

4. Clarification of the HR departments duties and responsibilities,

5. Stimulation of uniformity of HR policies and practices, finding critical

personnel problems,

6. ensuring timely compliance with legal requirements, reduction of HR costs

through more effective personnel procedures, creation of increased acceptance

of the necessary changes in the HR department and a thorough review of the

departments information system.

7. The HR manager himself or herself is interested in knowing his or her

department s effectiveness. It is not that the department is infallible. Errors do

happen. Policies and practices become outdated. By auditing itself, the

department finds problems before they become serious. Done correctly, the

evaluation process can build a strong rapport between the department and

operating managers, and it can reveal outdated assumptions that can be changed

to meet the departments objectives and future challenges. Systematic

assessment instills discipline in the personnel staff and encourages them to

move away from intuitive techniques to more rigorous assessment of the likely

benefits to be achieved. Further, a personnel function must establish credibility

with the management by justifying its programmes and clearly demonstrating

how it contributed to the attainment of organisational goals

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Approaches to HR Audit :

There are five approaches for the purpose of evaluation of HR in any organization:

Comparative approach

Outside authority

Statistical

Compliance approach and

Which Questions are included in Human Resource Audit?o How did the work force get to be the current size?

o What are some of your organizations future needs for personnel?

o What are the procedures for hiring in your organization?

o What recruitment sources are used? (e.g., advertisements, referrals from other

agencies, personal contacts)

o Are current employees given appropriate consideration for promotion or lateral

position changes?

o Who does the preliminary screening of candidates?

o Who selects candidates for interviews?

o Is training provided for those who conduct interviews?

o How is the recruitment, screening, and selection process documented?

o What is the interview process that is used (e.g., individual, sequential, panel)?

o Who holds final authority to hire?

o Who checks references?

o How are the reference checks documented?

o Who makes the offer of employment?

o Where is the hiring paperwork generated?

o Who negotiates compensation packages?

o List the practices you believe are unique to your organization.

o What is the turnover rate (percent of employees leaving each year) in your

organization? Has

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An HR audit is a tool for evaluating the personnel activities of an organization. The audit may

include one division or an entire company. It gives feedback about the HR functions tooperating managers and HR specialists. It also provides feedback about how well managers are

meeting their HR duties. In short, the audit is an overall quality control check on HR activities

in a division or company and an evaluation of how these activities support the organizations

strategy:

(FIGURE OF HUMAN RESOURCE AUDIT)

HRM

OBJECTIVES

HRM

ACTIVITIES

HRM

RESULT

HRM AUDIT

ORGANIZATI

ONAL

OBJECTIVES

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Introduction of Angel BrokingMr. Dinesh Thakkar established Angel Broking in 1987, and today it is one of the

leading Indian stock broking and wealthmanagement houses, with an absolute focus on retail

business and a commitment to provide real value for money to its clients. The Angel Group

is a member of the Bombay Stock Exchange, the National Stock Exchange, and the countrys

two leading commodity exchanges, the NCDEX and MCX. Angel is also registered as a

depository Participant with CDSL. The International Finance Corporation (IFC) in

Washington, a World Bank affiliate, recognized the great value proposition of Angels unique

Retail Focused Business Model by acquiring a 12.3% stake in the groups holding company in

December 2007.

Angel provides a wide range of personalized wealth-management and investment

services to its retail clients. These include stock and Commodity Trading, Portfolio Advisory

and Management Services, Investment Advisory Services, distribution of Mutual Funds, IPOs,

Personal Loans and Insurance, as well as E-broking & Depository services all supported byintensive research and a six sigma-backed Quality Assurance program. Angel Group provides

its value-added services to over 5.1 lakh individual retail investors through its nationwide

network of 164 branches, including 20 regional hubs & 25 distribution offices , 5,430+ sub-

brokers/business associates and 5,900+ direct and 15, 000 indirect employees. Angel Broking

has one of the largest trading terminal bases (11,997 terminals) in the country, and the largest

sub-broker network on the NSE. It records daily business volumes of 3,500 crores in equities,

650 crores in commodities, and 550 crores through online broking. With over 1,500 outlets

connected through its state-of-the-art IT network, Angel offers personalized and world-class

services.

The company has top-quality, retail-focused research, as well as expert dealing

facilities. Modern, centralized helpdesks answer investor queries and address any concerns

24x7. Angels web-enabled, value-added back office is staffed by a brilliant team of experts for

Quality Assurance.

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Policies of Angel Broking :

Job DescriptionRecruitment and Sourcing Interaction with placement officers / Directors fortheir campus placements.

Organizing different Management Development Programs Taking Care of Pre & PostRecruitment Process.

Taking care of joining formalities within the specified time Maintaining database of all the

Candidate Short-listed, Interviewed, Selected, Joined and Rejected. Preparing, Giving Offer &

Appointment Letters of the Candidate. Preparing and Conducting Induction and Orientation

Programmed. Co-coordinating for Induction Programs.

To complete HR formalities like appointment letter, confirmation letter, promotion letter,

increment letter, relieving letter. Desired Profile Good communication & interpersonal skills.

Good knowledge of Job Portals. Experience - 1-6 years.

Angel Broking Gives Following Services :

Equities

Commodities

Mutual Funds

Portfolio Management Services

Life Insurance Personal Loans

Depository Services

Investment Advisory

IPO

Private Client Group

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Now ,structure of angle broking for human resource audit

Angle provide every employee to weekly activity. For each employees.

Example :

No. Date Client Name Account

No.

PAN No. ID No.

1 19/02/2008 Mr.vijay shah 498637 AGD2343C5 VS08

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Human Resource Information System :

It is a system basically a database system by which an organization collects, analysis,

stores and reports important data and information about people and jobs in a central and

accessible location so as to facilitate decision making for HRP and other HRM functions, to

submit the reports to external agencies etc...

Which things are included in HRIS :

1) How many employees are currently on staff?

2) How many employees are:

Regular

Probationary

Temporary

Full Time

Part Time

Exempt

Non-Exempt

3) What is the definition of a part-time employee? (i.e., What is the maximum number of hours

an employee can work to be considered part-time?)

4) What is the minimum number of hours an employee has to work to be considered full-time?

5) How long is the probationary period?

6) Are employees aware of their status?

7) How long can an employee be temporary?

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Objectives of Human Resource Information System :

The basic objective of human resource information system is to gather, classify, process

and provide information required for efficient and effective human resource management. It

can considered as :

1. To offer an adequate, comprehensive and ongoing information system about people and

jobs.

2. To supply up to date information at reasonable cost. When computerized difficulties in

maintaining on going entire and update in the information is avoided. Also clerical

expenses and time are saved.

3. To offer security and personal privacy of information by using the password.

4. To provide accuracy and reliability of information by minimizing the chances of

making mistakes.

5. To integrate fragmented information and transform it into easily accessible and useful

form.

6. To analyze the information fast and help in decision making in day-to-day issues,

human resource planning, human resource budgeting and human resource audit, human

resource research etc

7. To submit reports and returns to government authorities and external agencies etc

8. To avoid duplication of data information and records and there by to avoid duplication

of efforts.

9. To respond the environmental changes adequately and fast.

10. To bring transparency of system.

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Designing of Sound HR Information System :

Sound human resource information system is necessary for sound human resourcemanagement. Therefore human resource information system needs support of top management

for its sound design and co-operation of employees to ensure quality information. Following

are the steps for designing sound HRIS:

(1) Identification of information needs or Planning of HRIS:

As data and information are basic inputs for decision making at various level by

managers, the first step of HRIS is to identify the information needed by managers. For thispurpose detailed study of activities which are carried in the organization internally. It also

requires to analyze work patterns, their relationship etc.. these factors differ from organization

to organization, from industry to industry and even from time to time in the same organization

or industry.

(2) Designing the system:

At this stage analyst examine the flow of information, identifies the gape betweenneeds and availability of information and then the flow is organized in such a manner i.e.

economical, effective and matching with the needs. Here it is important to remember that HRIS

is the sub system of management information system(MIS) and it does not required a separate

design. But it may be required to develop processing techniques for desired data sent by

managers at different level.

(3) Implementation:

In this stage HRIS is actively set up taking into account organizational needs. In order

to handle system effectively and comfortably, the employees are imparted necessary skills

through adequate training programmes. Besides, facilities are increased and updated procedures

are properly streamlined to integrate HRIS with various organizational components in existence

at the time.

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In Angle broking this type of information system has been

used :

Angle broking keeps the perfect & day-to-day employee record of the entire employee in

the company. Here all the employees are given certain codes & their data are entered in the

computer according to the code. All the employees record is written down accurately whether

the employees are new or old. . From the employee record, the company can know the

employees honesty performance, efficiency, loyalty etc.

Generally the company also needs record information pertaining employees that are as follows.

1 Employee name.

2 Employee present residual address with telephone no.

3 Employee Permanent address with telephone no.

4 Employee birth date5 Employees education qualification

6 Year and date of joined services

7 Department in which currently works.

8 Age

9 Male / female

10 Employee pan card

11 Employee bank recodes

12 Employee blood group

This types of all activity including application form when employee applied in

company. Now we given structure given below :

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APPLICATION FORM

First Name Middle Name

Last Name Title Mr. Mrs. Miss

Father Name Sex Male / Female

Address Permanent Address

City City

State State

Country Country

Pin Code Pin Code

Telephone No. Telephone No.

Mobile No. Mobile No.

Fax No. Fax No.

PAN/GIR No. I.T.Circle/Ward/Dist.

E-mail Address Date of Birth

MAPIN Code Nationality Indian / Others (specify)

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SUGGETION

Suggestion for Angel Broking :

The Angel Broking should start commodity and derivatives transaction so it attracts

more investors.

There should be reducing wastage of manpower and also office appliance.

There should be given proper attention of the broker and other staff members problem

and try to reduce it immediately.

There is no proper department head for watching the activity of the broker and staff member so

keep one head for monitoring the activity.

CONCLUSION

Completing this study we found that, The Company fulfills employees requirements but as the

time Changes Company should change their HR strategy, so it will be a bright future in the

coming year. I have seen that the organization is well working and good market coverage also.

The company has need to earned good image in the employees mind. So the employees

working in organization not for the salary but they work as organization goal is own goal. So

the organization get better result in future.

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