INSTITUTE OF MANAGEMENT STUDIES LAL QUAN, GHAZIABAD

A PROJECT REPORT ON

``HR Policies followed by Pantaloon Retail Ltd. ``

(Approved by AICTE, Govt. of India) (Equivalent to MBA) ACADEMIC SESSION 2009-11 Submitted in partial fulfillment of PGDM program (2009-11)

Submitted by: Ritu Chaudhary R.No.- BM-09175 Faculty Guide Dr.Krishna Shekhar Lal Das Faculty IMS Ghaziabad Company Guide Mr.Nitin Goel Executive HR Brand Factory

DECLARATION

I,RITU CHAUDHARY, Roll No. BM-09175 ,declare that I have completed my summer internship at Pantaloon India Retail Ltd.(BRAND FACTORY), New Delhi and has submitted this project entitled HR POLICIES FOLLOWED BY BRAND FACTORY towards partial fulfillment of the requirements for the award of the Post Graduate Diploma in Management from IMS Ghaziabad. This report is the result of my own work and to the best of my knowledge no part of it has earlier comprised any other report, monograph, dissertation or book.

Date : Ritu Chaudhary BM-09175 PGDM(2009-11)

Certificate

This is to certify that Ms.Ritu Chaudhary have completed her internship project HR POLICIES FOLLOWED BY PANTALOON RETAIL (I) LTD. under the guidance of Dr.Krishna Shekhar Lal Das with her full honesty and integrity.

Dr.Krishna Shekhar Lal Das Facility IMS Ghaziabad

Abstract

Retail concept is old in India. Worlds first departmental store started in Rome. Todays kirana stores are based on Manusmriti & Kautilyas arthshastra. Haats, Melas, Mandis & door to door salesmen are traditional Indian retail. Big Bazaar is a retail sector, which is providing good quality of products in very reasonable price than its competitors. Retailing and wholeselling consist of many organizations designed to bring goods and services from the point of production to the point of use. Future Group is one of the countrys leading business groups present in retail, asset management, consumer finance, insurance, retail media, retail spaces and logistics. The groups flagship company, Pantaloon Retail (India) Limited operates over 10 million square feet of retail space, has over 1,000 stores and employs over 30,000 people. Future Group is present in 61 cities and 65 rural locations in India. Some of its leading retail formats include, Pantaloons, Big Bazaar, Central, Food Bazaar, Home Town, eZone, Depot, Future Money and online retail format, futurebazaar.com.Future Group companies includes, Future Capital Holdings, Future Generali India Indus League Clothing and Galaxy Entertainment that manages Sports Bar, Brew Bar and Bowling Co. Future Capital Holdings, the groups financial arm, focuses on asset management and consumer credit. It manages assets worth over $1 billion that are being invested in developing retail real estate and consumer-related brands and hotels.The groups joint venture partners include Italian insurance major, Generali, French retailer ETAM group, US-based stationary products retailer, Staples Inc and UK-based Lee Cooper and India-based Talwalkars, Blue Foods and Liberty Shoes.Future Groups vision is to, deliver Everything, Everywhere, Every time to Every Indian Consumer in the most profitable manner. The group considers Indian-ness as a core value and its corporate credo is- Rewrite rules,Retain value. The company strongly believes that its sustainable competitive advantage lies in the values that it cherishes, the culture that it imbibes and spirit of enterprise that resides within the organization. Talent management therefore continues to be the core focus for the company. Considering the multiple businesses and rapid expansion expected across the business, the company saw merit in taking a fresh guard to the way in which business would run in order to meet the next leg of expansions. During the year 2006-07, the company conducted an extensive review of in-house talent management, which involved mapping every managerial position in the organization for their skill sets, competence and attitudinal aspects as well as taking an inventory check of the existing talent base and addressing their development needs. Development Centres were created with inhouse assessors, which further aided in identifying potential resources and helped chalk out post assessment development plans. Continuing with its policy of strategic alliances, the company is collaborating on joint degree programs with 15 management schools, design institutes and institutes of higher learning in areas like food business, supply chain management, design experience management etc. This Seekho programme for external and internal candidates has ensured a steady stream of mid level, well trained retail professionals every year. The companys Gurukool programme provides the front-end employees an opportunity to

imbibe the companys values and a sense of ownership to the company. The company has also created an Employee Growth Trust Fund that was launched during the last financial year for the senior management

Acknowledgement

The report what I have presented is not the made outcome of my labour alone. There are dozens of hands buttressed me all through the programme, it doesnt go without thanking all of those who constantly keep me on the move. I would like to give heartily thanks to INSTITUTE OF MANAGEMAENT STUDIES, GHAZIABAD who have given us an opportunity to learn something practical apart from books by including the in-plant training in our PGDM Programme. I express my gratitude to our Area Chairperson Mr. Sachin Sharma who has supported me to complete this project. My sincere thanks to Dr.Krishna Shekhar Lal Das, Internal Guide for guiding me to work on this project. I would like to express my most sincere thanks and gratitude to External guide Mr. Nitin Goel (HR Executive) who have given a good support to grab the external exposure and to complete a project in Brand Factory.I give my sincere token of thanks to all my faculties, relatives and friends who have gathered me the wisdom of knowledge. This work is dedicated to my parents who have supported me throughout my student life.

Table of contents

CHAPTER. 1
1.1 1.2

Topic Introduction Objective of the study HRM at Brand Factory-a division of retail (I) Ltd.

Page no.

2
2.1 2.2 2.3 2.4 2.5 2.6

Chapter-2 Company Profile Companys Milestones Lines of Buezsiness The Promoters Culture Core Values of the Company Brand Factory-Pantaloons new retail format

3 4 5

Literature Review Methodology Chapter-Companys HR Policies

6
6.1 6.2 6.3 6.4 6.5 6.6 6.7

Concepts Recruitment and Selection Recruitment and Selection at Brand Factory Grooming Grooming at Brand Factory Relationship between grooming and sales the company Performance Appraisal Performance Appraisal at Brand Factory

Sources of data

8 9 10

Conclusion Limitation Bibliography

List of tables

S.no

Table

Page no.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 2.1 2.2 2.3

Introduction

The human resources of an organization consist of all people who perform its activities. Human resource management (HRM) is concerned with the personnel policies and managerial practices and systems that influence the workforce. In broader terms, all decisions that affect the workforce of the organization concern the HRM function. The activities involved in HRM function are pervasive throughout the organization. Line managers, typically spend more than 50 percent of their time for human resource activities such hiring, evaluating, disciplining, and scheduling employees. Human resource management specialists in the HRM department help organizations with all activities related to staffing and maintaining an effective workforce. Major HRM responsibilities include work design and job analysis, training and development, recruiting, compensation, team-building, performance management and appraisal, worker health and safety issues, as well as identifying or developing valid methods for selecting staff. HRM department provides the tools, data and processes that are used by line managers in their human resource management component of their job.

The focus of HRM department: The HRM focus should always be maintaining and, ideally, expanding the customer base while maintaining, and ideally, maximizing profit. HRM has a whole lot to do with this focus regardless of the size of the business, or the products or services you are trying to sell. (Dr. James Spina, former head of Executive Development at the Tribune Company). HRM is involved in managing the human resources with a focus on expanding customer base that gives profit to the company. The bottom line of the company is the focus of the HRM department as well as the function. Contributing to the Bottom-line of the Company through HR Top-line Activities. A growing body research shows that progressive HRM practices have a significant effect on corporate bottom-line and middle-line performance. The positive effect on financial performance, productivity, product and service quality, and cost control are documented by researchers.

High-performance work systems (HPWS) is a term used to describe a collection of HR practices or characteristics of HR systems designed to enhance employees competencies so that employees can be a reliable source of competitive advantage. A summary of the research on HPWS indicated that a one standard deviation of improved assessment on a HPWS measurement tool increased sales per employee in excess of $15,000 per employee, an 8 percent gain in labor productivity.

Activities of Human Resources Management

The activities performed by HRM professionals fall under five major domains: (1) Organizational design, (2) Staffing, (3) Performance Management and Appraisal, (4) Employee and Organizational Development, and (5) Reward Systems, Benefits ad Compliance (7) Grooming

Acquiring human resource capability should begin with organizational design and analysis. Organizational design involves the arrangement of work tasks based on the interaction of people, technology and the tasks to be performed in the context of the objectives, goals and the strategic plan of the organization. HRM activities such as human resources planning, job and work analysis, organizational restructuring, job design, team building, computerization, and workermachine interfaces fall under this domain.

Recruitment, employee orientation, selection, promotion, and termination are among the activities that fit into the staffing domain. The performance management domain includes assessments of individuals and teams to measure, and to improve work performance. Employee training and development programs are concerned with establishing, fostering, and maintaining employee skills based on organizational and employee needs. Reward systems, benefits and compliance have to do with any type of reward or benefit that may be available to employees. Labor law, health and safety issues and unemployment policy fall under compliance component.

Major Trend Affecting HRM The following trends have an effect on human resource management function and department. The importance of HRM increases due to some of them and the practices of HRM are affected to some extent due to some of them. 1. Increased globalization of the economy. 2. Technological changes and environmental changes. 3. The need to be flexible in response to business changes. 4. Increase in litigation related to HRM. 5. Changing characteristics of the workforce.

The Importance of HRM Measurement Many HRM systems and activities are not subjected to systematic measurement. Many organizations do not assess either the short- or long-term consequences of their HRM programs or activities. A recurring theme of the book is that measurement and accountability are key components to organizational effectiveness and competitive advantage. Good measurement, allied with business strategies, will help organizations select and improve all of their HRM

activities and provide a much stronger connection between HRM activities and organizational effectiveness. Stanford University professor Jeffrey Pfeffer considers measurement to be one of the keys to competitive advantage. His book Competitive Advantage Through People cites measurement as one of the 16 HRM practices that contribute the most to competitive advantage. A new book entitled The Workforce Scorecard by Professors Mark Huselid, Brian Becker, and Dick Beatty extends research on the "balanced scorecard" to a comprehensive management and measurement system to maximize workforce potential.

Competitive Advantage and HRM

Competitive Advantage refers to the ability of an organization to formulate strategies that place it at favorable position relative to other companies in the industry. Two major principles, namely customer value and uniqueness, are relevant for gaining competitive advantage. Competitive advantage occurs if customers perceive that they receive more value form their transaction or relationship with an organization than from its competitors. HRM needs to make efforts to ensure that all employees are focused on understanding customer needs and expectations. The second principle of competitive advantage derives from offering a product or service that your competitor cannot easily imitate or copy. The status of HRM is improving relative to other potential sources of competitive advantage for an organization. Professor Pfeffer notes that "traditional sources of success (e.g., speed to market, financial, technological) can still provide competitive leverage, but to a lesser degree now than in the past, leaving organizational culture and capabilities, derived from how people are managed, as comparatively more vital."

For success in 21st century, HRM activities must be (1) responsive to a highly competitive marketplace and global business structures, (2) closely linked to business strategic plans, (3) jointly conceived and implemented by line and HR managers, and (4) focused on quality, customer service, productivity, employee involvement, teamwork, and workforce flexibility. As human resource of an organization gives the competitive advantage over the competitors so it is necessary for an organization to perform the HRM functions effectively, Brand Factory-a division of Pantaloon Retail (India) Ltd.(Future Group)

HRM at Brand Factory-a division of Pantaloon Retail (India) Ltd.(Future Group)  Organisational set up and configuration

y y y y

Defining organisational structure and hierarchy. Updating organisational structure and hierarchy. Defining and maintaining employee classification and hierarchy. Set up access and approval levels.

 Recruitment Advertisements in various forms. Application processing. Written tests and group discussions. Updated lists for campus recruitments.

y y y y

 Employee details maintenance

Maintaining service records of employees.

 Employee benefits details maintenance

y y y y y

Tracking changes in salary scales and allowances. Producing appropriate reports. Verifying, registering and updating professional memberships. Allowances and claims processing. Issuing loans and advances.

 Attendance management Tracking attendance registers. Tracking late arrivals. Tracking overtime. Maintaining shift rosters. Capturing interface data. Generating interface reports.

y y y y y y

 Training details maintenance

y y y y y y

Tracking budgetary allocations. Tracking internal training programmes. Maintaining details of training institutions. Maintaining training requests and requirement details. Maintaining post-training details. Maintaining post-training work reallocations.

 Allocations, transfers and deputation management Allocations, transfers and deputation management. Maintaining deputation details. Generating transfer details.

y y y

 Performance-appraisal management Maintaining details of timely performance-appraisal reports. Maintaining details of ratings from appraisal officers. Generating details of reminders for performance-appraisal reports.

y y y

 Promotion-details management Generating lists of eligible candidates. Grading eligible candidates.

y y

Maintaining details of promotions.

 Leave-details management Crediting leave to employee accounts. Maintaining details of leave availed and required approvals. Maintaining details of leave encashment. Validating details of residual leave.

y y y y

 Separation-details management Updating details of terminal benefits. Registering details of employee benefits. Generating reports of these details.

y y y

 Manpower planning Maintaining transfer details. Maintaining succession details. Generating MIS reports. Generating current human resources details

y y y y

Company Profile

The Background :

Pantaloon Retail (India) Limited, is Indias leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. Headquartered in Mumbai (Bombay), the company operates over 10 million square feet of retail space, has over 1000 stores across 61 cities in India and employs over 30,000 people. The companys leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely Indian hypermarket chain, Food Bazaar, a supermarket chain, blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality and Central, a chain

of seamless destination malls. Some of its other formats include, Depot,Shoe Factory, Brand Factory, Blue Sky, Fashion Station, aLL, Top 10, mBazaar and Star and Sitara. The company also operates an online portal, futurebazaar.com. A subsidiary company, Home Solutions Retail (India) Limited, operates Home Town, a large-format home solutions store, Collection i, selling home furniture products and E-Zone focused on catering to the consumer electronics segment.

Pantaloon Retail was recently awarded the International Retailer of the Year 2007 by the USbased National Retail Federation (NRF) and the Emerging Market Retailer of the Year 2007 at the World Retail Congress held in Barcelona. Pantaloon Retail is the flagship company of Future Group, a business group catering to the entire Indian consumption space. Pantaloon is not just an organization - it is an institution, a centre of learning & development. We believe that knowledge is the only weapon at our disposal and our quest for it is focused, systematic and unwavering.

At Pantaloon, we take pride in challenging conventions and thinking out of the box, in travelling on the road less travelled. Our corporate doctrine Rewrite Rules, Retain Values is derived from this spirit. Over the years, the company has accelerated growth through its ability to lead change. A number of its pioneering concepts have now emerged as industry standards. For instance, the company integrated backwards into garment manufacturing even as it expanded its retail presence at the front end, well before any other Indian retail company attempted this. It was the first to introduce the concept of the retail departmental store for the entire family through Pantaloons in 1997. The company was the first to launch a hypermarket in India with Big Bazaar, a large discount store that it commissioned in Kolkata in October 2001. And the company introduced the country to the Food Bazaar, a unique 'bazaar' within a hypermarket, which was launched in July 2002 in Mumbai. Embracing our leadership value, the company launched aLL in July 2005 in Mumbai, making us the first retailer in India to open a fashion store for plus size men and women.

Today we are the fastest growing retail company in India. The number of stores is going to increase many folds year on year along with the new formats coming up. The way we work is distinctly "Pantaloon". Our courage to dream and to turn our dreams into reality that change peoples lives, is our biggest advantage. Pantaloon is an invitation to join a place where there are no boundaries to what you can achieve. It means never having to stop asking questions; it means never having to stop raising the bar. It is an opportunity to take risks, and it is this passion that makes our dreams a reality. Come enter a world where we promise you good days and bad days, but never a dull moment!

FUTURE GROUP

Future Group is one of the countrys leading business groups present in retail, asset management, consumer finance, insurance, retail media, retail spaces and logistics. The groups flagship company, Pantaloon Retail (India) Limited operates over 10 million square feet of retail space, has over 1,000 stores and employs over 30,000 people. Future Group is present in 61 cities and 65 rural locations in India. Some of its leading retail formats include, Pantaloons, Big Bazaar, Central, Food Bazaar, Home Town, eZone, Depot, Future Money and online retail format, futurebazaar.com. Future Group companies includes, Future Capital Holdings, Future Generali India Indus League Clothing and Galaxy Entertainment that manages Sports Bar, Brew Bar and Bowling Co. Future Capital Holdings, the groups financial arm, focuses on asset management and consumer credit. It manages assets worth over $1 billion that are being invested in developing retail real estate and consumer-related brands and hotels. The groups joint venture partners include Italian insurance major, Generali, French retailer ETAM group, US-based stationary products retailer, Staples Inc and UK-based Lee Cooper and India-based Talwalkars, Blue Foods and Liberty Shoes. Future Groups vision is to, deliver Everything, Everywhere, Every time to Every Indian Consumer in the most profitable manner. The group considers Indian-ness as a core value and its corporate credo is- Rewrite rules, Retain value

Major Milestones

   

1987

Company incorporated as Manz Wear Private Limited. Launch of Pantaloons

trouser, Indias first formal trouser brand. 1991 1992 1994 Launch of BARE, the Indian jeans brand. Initial public offer (IPO) was made in the month of May. The Pantaloon Shoppe exclusive menswear store in franchisee format

launched across the nation. The company starts the distribution of branded garments through multi-brand retail outlets across the nation.       1995 1997 2001 John Miller Formal shirt brand launched. Pantaloons Indias family store launched in Kolkata. Big Bazaar, Is se sasta aur accha kahi nahin - Indias first hypermarket

chain launched. 2002 2004 Food Bazaar, the supermarket chain is launched. Central Shop, Eat, Celebrate In The Heart Of Our City - Indias first

seamless mall is launched in Bangalore. 2005 Fashion Station - the popular fashion chain is launched aLL a little larger - exclusive stores for plus-size individuals is launched

Lines of Business Future Retail Covering all retail businesses

Future Capital Financial products and services

Future Brands Management of all brands owned or managed by group companies

Future Space Management of retail real estate

Future Logistics Management of supply chain and distribution

Future Media Development and management of retail media

The Promoters

Mr.Kishor Biyani

BOARD OF DIRECTORS

Mr. Kishore Biyani Mr. Gopikishan Biyani Mr. Rakesh Biyani Mrs. Veda Prakash Arya Mr. Shailesh Haribhakti Mr. S Doreswamy

Managing Director Whole time Director Whole time Director Director Independent Director Independent Director

Dr. D O Koshy Mrs. Anju Poddar Mrs. Bala Deshpande Mr. Anil Harish

Independent Director Independent Director Independent Director Independent Director

Vision : To emerge as the best and the most profitable retailer in India

Mission : "TO SPEARHED HIS COMPANY TO BE THE FINEST AND THE MOST PREFERRED CHAIN IN RETAILING

Our culture

At Pantaloon, Empowerment is what you acquire and Freedom at Work is what you get. We believe our most valuable assets are our People. Young in spirit, adventurous in action, with an average age of 27 years, our skilled & qualified professionals work in an environment where change is the only constant.

Powered by the desire to create path-breaking practices and held together by values, work in this people intensive industry is driven by softer issues. In our world, making a difference to Customers lives is a Passion and performance is the key that makes it possible. Out of the Box thinking has become a way of life at Pantaloon and living with the change, a habit.

Leadership is a value that is followed by one and all at Pantaloon. Leadership is the quality that motivates us to never stop learning, stretching to reach the next challenge, knowing that we will be rewarded along the way. In the quest of creating an Indian model of retailing, Pantaloon has taken initiatives to launch many retail formats that have come headed for serve as a benchmark in the industry. Believing in leadership has given us the optimism to change and be successful at it. We do not predict the future, but create it.

At Pantaloon you will get an opportunity to handle multiple responsibilities, and therein, the grooming to play a larger role in the future. Work is a unique mix of preserving our core Indian values and yet providing customers with a service, on par with international standards. At Pantaloon you will work with some of the brightest people from different spheres of industry. We believe its a place where you can live your dreams and pursue a career that reflects your skills and passions.

COMPANYS CORE VALUE

INDIANESS

LEADERSHIP

RESPECT & HUMILITY

INTROSPECTIOJN

OPENNESS

VALUING & NURTURING RELATIONSHIPS

SIMPLICITY & POSITIVITY

ADAPTABILITY

FLOW

INDIANNESS is all about Understanding the Indian Market, Customers Needs, Preferences & strive to surpass the expectations of Indian Customers by Delivering it Indian Way. For Example we offer very good quality Branded Products at affordable Prices. This is what an Indian Customer expect.

Namaste would be an another example of Indianness. we Say Namaste when we communicate with Customers, Business Associates or Colleagues. By doing this we express our Respect & also it shows that He / She is welcome.

Karta is another Example of Indianness, In our culture Karta means the Head of the family. At Central every Store Manager is been called Karta. who is not only responsible for the growth of Business But same time Karta is also responsible for optimizing Each Family Members capabilities. Karta is also responsible for Development of each Family Members.

LEADERSHIP Leadership is not about being Manager or CEO of the Company, its all about being step ahead from competitors & creating Future. Future Groups is always been in a Leader & Trend setters.

Future group is the perfect example of Leadership, We at Future Group understand the Market well, Analyze the Competitors & Being Visionary. Being Leader is not about predicting future its about Creating Future.

Central is the best example where we have understood the expectation of Customers not only for today considering the Future Business scenario too. Where we have created an exciting world class Shopping experience keeping in mind the Indian Customers expectations. At Central we provide Indian Customer a complete Shopping experience Shop Eat & Celebrate. Customers have got more then 300 Brands to choose from in different categories like Apparels, Wellness, Electronics & Grocery etc.

INTROSPECTION is another important Value Future Group follows. Introspection is value which gives us an opportunity to Evaluate alignment between our Thoughts, Plans & Actions. It also Helps us in identifying the Gaps.

Periodical Reviews about Business Targets & Achievement, Benchmarking Business Policies, Reviews of Business Processes & Technologies to take corrective actions. These are some of the

ways of doing Introspection we follow. Its very important for success of any Business that Introspection been time from time to time for removing all the barriers & gaps for achieving the Business Excellence.

At Future Group we all follow this Value, irrespective of which function or which position we are working. Today scenario Business / Market is very competitive & survival will not be sufficient for a ambitious Organization like us. We must strive for the excellence in Business to be the BEST.

VALUING & NURTURING RELATIONSHIPS is another Value which Future Group follows. At Future Group we believe in that any Organization can be built up on Long Term Relationship only. We built Long term Relationship considering Win-Win situation not only with our Customer, But also with Business Partners, Vendors, Employees & Community.

Good Relationship with Customers will give more Business Help in achieving our Business Targets same time Good Relations with Business Partners / Vendors will Help us in Running Business smoothly, Good Relationship with Employees Helps Organization in optimizing the use of all the available resources at optimum level. All these finally will help an Organization in achieving Excellence in Business.

SIMPLICITY & POSITIVITY means we should make Thoughts & Things simple, just by focusing on the Objectives. We all with the Help of different Processes & Technologies trying to make Business simple. So that we can be faster & Accurate & we will not be needing highly skilled Employees to do small-small Jobs.

We all should be very much Positive about Organizations Objectives, Policies, Brands, Product, Services & Quality. Until we believe in it & be positive about it our Customers certainly wont be. Our Simplicity & Positivity reflects in our day to day activities & finally in to the Business results.

So weather it is selling Product to the Customer or Dealing with Vendors / Employees its very important that we make things simple & do it positively. It will create an good rapport with everyone in Business we deal with.

Employees selling on the floor wonder sometime that why some of the Products are so expensive & whether the Customer will buy it or not, But they must understand the Brand / Product in detail which will give them Positivity while selling the Product & same time things will become simple for them.

ADOPTABILITY is the key to the success of any Business. As we all know that Retailing is very dynamic Business specially in India where there is a variation in Lifestyle, Culture & Customer expectation at every 100 Km. We at Future Group are open to adopt any New Business Practices, Technologies or Change in Customers Expectation to strive the Customer Delight.

Its very important that at all the level Employees should also be open to adopt new way of Business, Policies, Processes. At Future Group Adaptability also help us Creating Employees who are capable of multitasking thats how we develop Future Leaders. Adoptability also help us running Business Smooth. Adopting New Ideas, Thoughts or Technologies will always keep us ahead from the Competitors & Close to Customers.

Example : - We have adopted the Market Trend and ventured in to the Business in Lifestyle (Central) as well as Value format (Brand Factory).

FLOW is another Value of Future Group which plays very important role in success of the Organization.

Lets understand FLOW by a very simple example of a Water fall, No matter what height water flows, No matter what all & how many obstacles it come across. But it always finds a way to

flow, very Importantly it flows in the Right Direction. Because of obstacles or hurdles come across we should never loose the Track or Direction.

We should always believe in our Core Values & should always be stand by with those Values, Courage & Success will surely follow us. Whatever obstacles / hurdles we come across Its very important that we must find a way out & strive for achieving out Business Targets / Objectives.

New discoveries in retail

In the financial year 2006-07, the companys retail businesses discovered new categories across formats, new sets of consumers and fresher and contemporary merchandise. We have been able to offer more in the established businesses and gain favourable acceptance with new concepts. In addition, concerted expansion plans saw retail space increase to over 5.2 million square feet at the end of 2006-07. This expansion mode was characterized by a two pronged approach. By dominating the cities the company was already present in and by bringing the benefits of modern

retail to towns and cities like Mangalore, Palakkad, Surat, Indore, Kanpur, Haldia, Agra,Coimbatore, Jaipur and Panipat. The company has also undertaken significant private label initiatives in food, in general merchandise and in the consumer durables and electronics categories. Strategic alliances have also been forged with established domestic and international brands. However, the most significant development was the internal realignment the company undertook within each of its retail businesses. To embark on a more detailed approach towards value creation and increasing efficiency, the company reviewed its business operations and adopted a more focused approach by creating an integrated support unit or Line of Business.

Augmenting the retail front-end team, Line of Business (LoB) units have been created in the three most critical businesses food, fashion and general merchandise. Formed during the second half of 2006-07 these business units focus on introducing optimum operational efficiencies. Thus, these units ensure that back - end measures are appropriately taken care of and the right kind of merchandise reaches the stores in the best possible time, at the right price.

These teams focus on product consolidation and suitability, margin improvement, and vendor rationalization, thereby ensuring that the sourcing benefits are made available to the front end team. The companys efforts over the next couple of years would entail a combination of expansion and process up gradation and implementation. The emphasis will be on the next discoveries to be made in the retail space that will lead to expansion. At the same time, there will be an increased focus on micro detailing aspects including process, product and operational efficiencies thereby contributing positively to the companys bottom-line.

Discovering fresh fashion

It was the first Pantaloons store in Kolkata that set off a chain of discoveries that have led the co. to where it is today. Ten years later, we have launched our largest Pantaloons store in Kankurgachi in Kolkata. Spread across 85,000 square feet, the store is the first among a series of large format stores that will be launched across the nation. After consolidating its Fresh Fashion positioning, Pantaloons embarked on a major expansion during the year 2006-07. In 8 cities,11 Pantaloons stores were opened with 7 of them opening in the single month of March 2007. The total count of Pantaloons stores as on 30th June 2007 stood at 31 with the total area under retail close to 1 million square feet. In order to maintain the top of the mind association with fashion in India, Pantaloons continued to be the title sponsor for the Femina Miss India 2007 pageant. In addition, Bipasha Basu and Zayed Khan were roped in as brand ambassadors in the month of August 2006. The success of this initiative was evident in the increased sales for the Haldi Gulal range as well as the Svayam Utsav summer collection that were endorsed by Bipasha and Zayed. The private label apparel share during the year was in excess of 70 percent. The year also witnessed categories like Winter-wear and Ethnic Ladies-wear strengthening their presence in the stores. The increasing success of the store brand is evident from the fact that the stores loyalty programme, Green Card, added 200,000 new members.

Pantaloons will see a significant expansion during the coming year with an increase of nearly 0.50 million square feet of retail space and an addition of about 15 stores. Pantaloons will look at dominating cities where it has a first entrant advantage and will scale up sizeably with larger stores, additional categories and retail formats. The year 2007-08 will witness considerable focus in the North and East regions. Delhi and the NCR area along with Punjab, Chandigarh and Ludhiana will see the next stage of expansion. Cities like Ranchi, Guwahati and Siliguri in the East will also discover Fresh Fashion.

Brand Factory- Pantaloon's new retail format.

Brand Factory is very different format of retail. Its reason of being There are life formate like central for those who effort it. Value formate for masses like Big Bazaar and Brand Factory is formate in between.

In September 2007 Pantaloon has announced a new retail format Brand Factory that promises to offer fashion brands at factory prices, without "compromising on shopping experience."

The retail chain is looking to open 55 such outlets in 40 cities . The second outlet was opened in Hyderabad in October, while the third in Ahmedabad. Pantaloon's Future Group intends to take the concept to all metros and ` The market size of value retailing in the country is estimated at Rs 35,000-40,000 crore and growing at 20 per cent per annum A' class towns with 10 lakh population.

Brand Factory brings to the Indian consumers the promise of revolutionizing value shopping by offering the best Indian and International brands at smart prices.

Brand Factory promises its customers that value shopping is not about seconds experience, its not about a garage sale environment and its not about buying cheap. Instead, its all about an amazing experience of Buying Smart.

The thought behind Brand Factory is to raise the bar of expectation and experience when it comes to Brand + Bargain Shopping. Over the years Factory Outlets have become distinct shopping destinations with distinct audiences. With fashion cycles reducing, larger quantities of stocks are reaching factory outlets. But then what gets compromised in the process is the brand and its image.

The emphasis at Brand Factory is to offer the customer the widest range of brands and categories possible at absolutely great prices, in an ambience that befits the brand. Brand Factory presents the brands in a fully air-conditioned, slick environment varying between 70,000 to 1,50,00 square feet.

The stores offers a wide range of products including apparels for men and women; infant wear; accessories; cosmetics; footwear; sportswear, luggage; home linen and much more.

Brand Factory hosts several Indian and International fashion brands including Levis, Pepe Jeans, Dockers, Wrangler, ProVogue, Arrow, Nike, Adidas, Reebok, Louis Phillip, Allen Solly, Reid and Taylor, Gini and Jony amongst others. At Brand Factory, you get the best brands, best bargains and best experience all under one roof. In short, 120 best brands at 20-50% off , 365 days.

Literature Review

Objective of Study

   

The main objective of the study is to analyze the human resource policies of Brand Factory-A division of Pantaloon Retail India Ltd. To study the process of selection and recruitment policy of the company. To study the various aspects of the Performance appraisal followed by the company. To determine the relationship between sales of the company and grooming of the staff in the company.

Methodology of the study

Data collection: Data used in the study is collected from Primary sources(observation method) by observing and interacting the employees of the organization. Secondary data available in the organization is also also used in the study.

Research tools: coorelation(grooming)

COMPANYS HUMAN RESOURCE POLICIES

Working hours and store timings-

Every employee has to adhere to respective store timings.

Break Timings:-

Tea Break Morning - 15 minutes

Lunch Break 30 minutes

Tea Break Evening 15 minutes

Late Coming/Absence

If employee is noted to be 15 mintues late on 3 occasions in a month, without authorization, then it will be automatically treated as day Leave.

If for any reason you are going to be late or absent, you are responsible to keep your DM / ADM informed.

 Probation & Confirmation

All new recruits will be on probation for 6 months.

Trainees to be on a period of 6 months.

The probation period will be used to establish whether the person has acquired the requisite knowledge and skills for permanent placement in the country.

In the event when an employee under probation does not come up to the expectations after the assessment then the probation period would be further extended by 3 months.

There will not be any revision in salary at the time of confirmation.

Leaves

The annual cycle for the purpose of leave will be 1st July 30th June.

Eligible for 30 days - ALL PURPOSE LEAVE

Employees can avail advance of 7 days of all purpose leave during probation which will be adjusted against their leave balance.

Leave accumulation will be permissible up to a period of 90 days.

Only 15 days can be carried forward to the next year.

Maternity leave - 84 days maximum on completion of 160 days.

Provident Fund (P.F.)

12% Of Basic as employers contribution towards Provident Fund.

The employee will be required to contribute a similar amount (12% of Basic) towards PF.

Benefits:

Interest on total contribution (Both employee contribution (Including voluntary contribution) and employers contribution).

Loan against members contribution (including voluntary contribution).

Tax Rebate on employees contribution (including voluntary contribution) under Section 80 C.

Permanent withdrawal of members contribution (including voluntary contribution and interest component) on completing 10 years of service in the same organisation.

Member can permanently withdraw:100% of contribution for housing purposes & 50 % of contribution for Hospitalisation, childrens education, marriage, housing etc.

Employees State Insurance Corporation (E.S.I.C):-

4.75% Of Gross as employers contribution towards ESIC.

The employee will be required to contribute 1.75% of the gross ESIC.

Benefits:

Free medical treatment for self, spouse and dependant family.

Can claim 7/12th of salary in case of sickness up to a maximum of 8 weeks in a continuous period of 365 days.

Can claim benefit / pension in case of disablement / death at workplace.

Gratuity Scheme:-

Under Gratuity Act 1972 - 5 Years

In case of death of employee or disability due to accident wherein the employee cannot be employed, the gratuity amount is given to the nominated family member even if the employee has not completed 5 Years.

As per The Payment of Gratuity Act,1972, gratuity shall be payable to an employee, on the separation / termination of his employment after he has rendered five years of continuous service,

 On his superannuation.

On his retirement or resignation.

On his death or disablement due to accident or disease (in this case 5 years of service is not necessary).

Gratuity is calculated at the rate of 4.81% of Annual Basic.

Special Privilege Scheme:- (Employee Discount Coupons)

OBJECTIVE:

To extend a discount facility to employees of Future Group

Feel pride to wear and use Company owned product.

To be brand Ambassadors

ELIGIBILITY:

The scheme is applicable to employees who are on the rolls of the company.

The scheme applies immediately at the time of joining.

Entitlement

The Purchase limits under this scheme would be as follows:

Level Band 1 (Coordinator) Band 2 (Specialist) Band 3 (Mid Management) Band 4 (Management Advisory) Band 5 (Strategic)

Purchase Limit ( Rs. p.a.) 25,000 50,000 100,000 200,000 Actual 1.1

 Pantaloon Shishya Objective:This program is aimed at self development of FUTURE GROUP employees to enhance their skill sets by taking up educational courses in a part-time or distance learning (correspondence) capacity thus enhancing their productivity and adding to organizational value. Eligibility:All employees of Future Group, who have completed 1 year of service and who have received confirmation of employment. Both criteria have to be fulfilled.

Benefits: Employees would be allowed to take up courses of their choice, which are relevant to enhancing their skills and knowledge for their job and have an impact on their work area. The total value of the benefit can be availed once in three years from the date of eligibility. That is, over a 3 year time frame, any employee can take up courses whose fees totally add up to his/her maximum eligibility.

Band

Position(store)

Amount Eligible Position (HO & Per Course Zonal Office) Upto 15,000 Upto 20,000 Coordinator Sr.Executive / Executive Deputy Manager / Asst. Manager Senior Manager / Manager Head / Chief 1.2

Amount Eligible Per Course Upto 25,000 Upto 30,000

Band1 Band2

Sales Staff ADM/DM/ Backend Support ASM / SM

Band3

Upto 30,000

Upto 50,000

Band4

Store Manager / Area Manager

Upto 75,000

Upto1,00,000

Band5

Upto 2,00,000

 Seekho Objective:  To enable employees to enhance their skill sets by taking up educational courses thus enhancing their productivity and adding to organizational value.  To aim at self-development of employees

Applicability: Program Detail Full time Post Graduate Program in Retail management (PGPRM) Applicability a)Completion of one year of continuous service with the organization as on 15th July of the calendar year in which the course is to commence. b) Secured minimum of 50% in graduation from a recognized university. 1.3

 Pantaloon Foundation

Background: Each of us spend a large proportion of our lives at work with our colleagues who become a second family away from home.

It is important that all our employees feel that this too is a family that cares for them and will be there for them in their time of need.

The Concept:

Each employee VOLUNTARILY contributes a small amount from his/her salary each month to the Pantaloon Foundation

This fund will be registered independently.

Any employee in need of urgent funds for any medical emergency for him/herself or his/her family can take an interest-free loan from this fund.

 Benevolent Loan

Objective:

To facilitate financial support to employees within specified parameters in connection with basic living requirements.

Eligibility:

Loans are applicable to confirmed employees who fulfill the qualification requirements for each category of loan.

The employees should have maintained a creditable performance rating.

Standards:

Loan has to be applied for on the Loan Application Form.

Applications will be routed through SM / ASM.

 Salary Advance

Objective:

To provide assistance to the employee to meet his immediate financial requirement or any emergency.

Eligibility :

Applicable to confirmed employees.

Standards :

The employee can take advance only after 15th day of the month.

Amount of salary advance should not exceed more than one month salary.

The said advance is interest free.

Recovery of the advance amount will be done in subsequent months salary.

 Celebrations

Gift Voucher on Wedding & New Born Baby

Eligibility: All confirmed Employees.

Benefit:

Employees who get married during their employment with the organization will be presented with a Gift voucher of Rs. 2000 /-.

Such Gift voucher will be presented only for first marriage.

A gift voucher of Rs. 1000 /- will be presented to an employee who has been blessed with a newborn baby.

Applicable for first two children only.

In case of both couple working in the organization, the gift voucher will be presented to either of two.

 Long Service Award Policy

Objective:

To recognize, encourage and reward the long-term contribution and commitment made by the employees for the growth of the Organization.

Applicability:

This policy is applicable to all employees of PRIL and its subsidiary companies who are on permanent rolls of the company.

Eligibility:

An employee will become eligible for the award after having put in 5 or 10 years of continuous service.

Mediclaim

Covers hospitalisation expenses for illness, disease or accident

Salient Features:

Covers for self, parents, spouse & two dependant children up to the age of 21 years.

Covers only Hospitalisation expenses.

Domiciliary Hospitalisation & Domiciliary Treatment expenses not covered

Pre hospitalisation up to 30 days

Post hospitalisation up to 60 days will be covered.

Sum Insured Per Family is from Rs. 75,000/- to Rs. 3,00,000/- p.a.

Exclusions:

Domiciliary Hospital expenses

Non Allopathic medicine

Congenital diseases

Expenses arising from AIDS and related treatment

Use of intoxicating drugs or alcohol

Joint replacement surgery .

Disease such as hernia, piles, cataract and sinusitis.

OTHER BENIFITS-

Immediate coverage of medical expenses during maternity (Limited to Rs. 15,000/- for normal delivery & Rs. 25,000/- for Cesarean).

Coverage of 126 day care procedures.

Coverage of pre-existing diseases.

Coverage of employees new born baby from birth.

Main Conditions:

Preliminary Intimation of Claim within 7 Days.

Final Claim to be filed within 30 Days from Date of Discharge.

Original Bills, Receipts, Cash Memos, prescriptions , other documents to be furnished.

In the event of double insurance contribution will apply.

 Doctor on Call

A doctor will be available in the store for health check-up during prescribed working Hours.

Free advice can be taken for individual as well as family related issues.

 Visiting Cards

Objective:

Authorize, empowered employees to represent the company.

Eligibility:

Band Band 3 and above Band 2

Applicability All Employees Employees involved in external customer interface / front end roles, dealing with vendors/ suppliers. Approval from HODs is required. 1.4

Company Car Objective: To enable the eligible employees to use the company car for official and personal purposes. To provide an opportunity to the employee to own the Car at the end of the 4 year period. Eligibility: Band Position Car purchase limit Encashment (if car benefit not availed) Rs.16, 600 /- pm Rs.12, 500/- pm

Band 5 Band 5

Head /President/ Vice 8 lacs President Chief/General 6 lacs Manager/ Business Manager Chief/General Manager/ Business Manager 4.5 lacs

Band 4

Rs.9,4000/-pm

1.5

 Future Outpost-Holiday Home Scope: This document serves to provide the necessary guidance for the policy governing the running and booking of The Future Outpost, which is a 21 room luxury resort in Alibaug Objective: To provide a Holiday Home to employees to unwind and recharge themselves along with their families..

Applicability: All employees at Head Office, Zonal Office & Stores.

 Hard Furnishing Scope: The objective of this policy is to enable the employees to acquire white goods and furniture for their personal use. This documents serves to provide the necessary guidance as a policy governing the procurement, use and entitlement of white goods and furniture. About the Policy: The Hard Furnishing entitlement is for a block of THREE years period. In case the employee avails of the entitlement at a later date, then his THREE years block period commences from the date of purchase onwards.

Eligibility:

Band

HO & ZO Employees

Store Employee

Value (Rs) For the block of 3 yrs 3,00,000

Annual Value (Rs)

Band 5

Head/ President/ NA Vice President Chief/General Manager/ Business Manager NA

1,00,000

Band 5

2,25,000

75,000

Band 4

Sr. Manager

Band 4 Band 3 Band 3

Manager Dpt.Manager Asst.Manager

Area 1,50,000 manager/Regional Manager SM 1,20,000 SM ASM 1.6 90,000 60,000

50,000

40,000 30,000 20,000

Health Club Membership Objective: To enable employees in becoming a member of a health club with an aim to provide for their physical & mental well-being.

Applicability & Eligibility: All reimbursements will be done only on actual basis & on submission of supporting, subject to limits specified below:

Band

Maximum limit for yearly reimbursement in Rs. 25,000 25,000

Band 3

Band 4 Band 5

25,000 1.7

The employee will not have an option to encash this benefit if not availed.

 Housing Loan Interest Subsidy Objective: To provide employees, the benefit of subsidy to own their own accommodation by means of purchase of plot / house, construction of dwelling unit or renovation of flat. Applicability & Eligibility: Confirmed employees in Band 3 & above, who have completed 6 months of continuous service with the organization, subject to limits specified below:

Band Band 5 Band 4 Band 3

Maximum Amt.(per year) Rs. 1,60,000/Rs. 1,00,000/Rs. 80,000/1.8

Maximum Amt. (per month) Rs. 13,333/Rs. 8,333/Rs. 3,667/-

Car Loan Interest Subsidy Objective: To enable the employees to acquire loan for purchasing car for both official and personal use.

Applicability & Eligibility: Confirmed employees in Band 3 & 4, who have completed 1 year of continuous service with the organization, subject to limits specified below: Band HO & ZO Employees Manager/Senior Manager Dupty Manager Store Employees Loan Entitlement

Band 4

Store Manager

Upto Rs.3,50,000

Band 3

Assistant Store Manager / Store Manager 1.9

Upto Rs.3,00,000

 Two Wheeler Loan Interest Subsidy Objective: To enable the employees to acquire loan for purchasing two wheeler vehicle for both official and personal use. Applicability & Eligibility: Confirmed employees in Band 3, 2 & 1, who have completed 1 year of continuous service with the organization, subject to limits specified below:

Band

HO & ZO Employees Assistant Manager Sr Executive / Executive Coordinator

Store Employees

Loan Entitlement

Band Band

NA ADM/ DM

Upto Rs.50,000 Upto Rs. 30,000

Band

Sales staff 1.11

Upto Rs.30,000

 Mobile Phone Objective: To take care of the communication needs for business and exigencies Applicability & Eligibility: All employees in Band 3 & above, subject to limits specified below:

Band

Mobile Handset Limit

Rent / Call Charges Limits (per month) Upto Rs.5,000 Upto Rs.3,000 Upto Rs.1,500 Upto Rs. 900

Band 5 Band 4 Band 3 Band 1&2 (need basis)

Upto Rs. 15,000/Upto Rs.10,000/Upto Rs.6,000/Will be provided by the company 1.12

 Travel Policy:

Objective:

 To make outstation visits in a structured and planned manner to enable the assignment to be completed on schedule.

 To make outstation travel a comfortable experience for an employee.

 To meet the expenses incurred by the employee in connection with travel, lodging and boarding.

Applicable:

Applicable to all employees on tour who are on the rolls of the company.

 Transfer Policy:

Philosophy:

The company reserves the right to transfer any employee from one department to another, or from one location to another (within India), to cope with the exigencies of business. The company will assist the employees in meeting reasonable expenses when they are transferred to a different location.

Applicable:

Applicable to employees at Head Office, Zonal Offices & Stores.

 Relocation Policy for New Recruits

Objective:

To assist the new recruit, who are relocating from a city (within India) other than their initial place of joining & to lay down entitlement and procedures for the same.

Applicable:

Applicable to new recruits joining in all Bands at Head Office & Zonal Offices and applicable to new recruits joining in Band 3 & 4 at Stores.

RECRUITMENT AND SELECTION

RECRUITMENT:-

Recruitment is the process concerned with the identification of sources from where the personnel can be employed and motivating them to offer themselves for employment.

Wether and Davis have defined this as follows; Recruitment is the process of finding and attracting capable applicants for employment. The Process begins when new recruits are sought and ends when their applicants are submitted. The result is a pool of applicants from which new employees are selected.

Lord has defined, Recruitment is a form of competition. Just as corporations compete to develop, manufacture, and market the best product or service, so they must also compete to identify, attract and hire the most qualified people. Recruitment is a business, and it is big business.

Thus, recruitment process is concerned with the identification of possible sources of human resource supply and tapping those sources.

Manpower Planning

Job Analysis

Recruitment

Selection

Placement

SELECTION:-

Selection can be conceptualized in terms of either choosing the fit candidates, or rejecting the unfit candidates, or a combination of both. Selection involves both because it picks up the fits and rejects the unfits. In fact, in Indian context, there are more candidates who are rejected than those who are selected in most of the selected processes. Therefore, sometimes, it is called a negative process in contrast to positive program of recruitment. Stone has given a formal definition; Selection is the process of differentiating between applicants in order to identify (and hire) those with a greater likelihood of success in a job.

Difference between Recruitment and Selection At this stage, it is worthwhile to understand difference between recruitment and selection as both these terms are often used together or sometimes interchangeably. Flippo described in the following statement: Recruitment is a process of searching for prospective employees and stimulating and encouraging them to apply for jobs in an organization. It is often termed positive in that it stimulates people to apply for jobs to increase the hiring ratio, i.e., the number of applicants for a job. Selection, on the other hand, tends to be negative because it rejects a good number of those who apply, leaving only the best to be hired.

GOALS OF RECRUITMENT To attract highly qualified individuals. To provide an equal opportunity for potential candidates to apply for vacancies.

GOALS OF SELECTION

1. To systematically collect information about to meet the requirements of the advertised 2. position. 3. To select a candidate that will be successful in performing the tasks and meeting the responsibilities of the position. 4. To engage in hiring activities that will result in eliminating the under utilization of women and minorities in particular departments. 5. To emphasize active recruitment of traditionally underrepresented groups, i.e. individuals with disabilities, minority group members, women, and veterans.

SOURCES OF MANPOWER SUPPLY

An organization can fill up its vacancies either through promotion of people available in the organization or through the selection of people from outside. Thus, there can be two sources of manpower external and internal. For all recruitment, a preliminary question of policy considers the extent to which it will emphasize external and internal sources. Vacancies through internal sources can be filled up either through promotion or transfer; recruiters tend to focus their attention on outside sources. Therefore, the first problem is to identify outside sources. Normally, following outside sources are utilized for different positions.

SOURCES OF MANPOWER SUPPLY

y y y y y y

Advertisement Employment Agencies Campus Recruitment Employee recommendations E Hiring Gate Hiring

1. Advertisement -: Advertisement is the most effective means to search potential employees from outside the organization. Employment advertisement in journals, newspaper, bulletins, etc, is quite common in our country. An advertisement contains brief statement of the nature of jobs, the type of people required, and procedure for applying for these jobs.

2. Employment Agencies -: Many organizations get the information about the prospective candidates through employment agencies. In our country, two types of agencies are operating: public employment agencies and private employment agencies.

Public Employment Agencies: There are employment exchanges run by the government almost in all districts. The employment seekers get themselves registered with these agencies. Normally, such exchanges provide candidates for lower position like semi-skilled and skilled workers, and lower-level operations like clerks, junior supervisors, etc. Private Employment Agencies : There are many consultancy and employment agencies like ABC consultants, Personnel and productivity services, Edge facility etc., which provide employment services particularly for selecting higher level and middle level executives. These agencies also undertake total functions personnel on behalf of various organizations. They charge fees for this purpose.

3. On campus Recruitment -: Many organizations conduct preliminary search of prospective employees by conducting interviews at the campuses of various institutes, universities and colleges. This source is quite useful for selecting people to the posts of management trainees, technical supervisor, scientist, and technicians. The organizations hold preliminary interviews on the campus on the predetermined date and candidates found suitable are called for further interviews at specified. 4. Employee recommendations -: Employee recommendation can be considered to the lower levels. The idea behind employee recommendations as a source of potential applicants is that

the present employees may have specific knowledge of the individuals who may be their friends, relatives, or acquaintances. If the present employees are reasonably satisfied with their jobs, they communicate these feelings to many persons in their communities. 5. E Hiring -: Many organizations conduct preliminary search of prospective employees through the internet service. There are many job portals available on internet like Naukri.com, Monster.com etc. Candidates register their cvs on the different job portals which are searched by the recruiters who are looking for the candidates. The candidates whose profiles match with the recruiters requirement are contacted through email or by telephone for further interview process.

6. Gate Hiring -: The concept of gate hiring is to select people who approach on their own for employment in the organization. Gate hiring is quite useful and convenient method at the initial stage of the organization when large number of such people may be required by the organization. It can be made effective by prompt disposal of applications, by providing information about the organizations policy and procedures regarding such hiring and providing facilities to +such gate callers. It is not necessary that a particular organization will utilize all sources to employ people of all types. Some of the sources are more useful for a particular category of employees. For example, advertisement and e-hiring are more useful for employing managerial personnel.

Selection process A selection process involves a number of steps. The basic idea is to solicit maximum possible information about the candidates to ascertain their suitability for employment. Since the type of information required for various positions may vary, it is possible that selection process may have different steps for various positions. For example, more information is required for the selection of managerial personnel as compared to workers. A standard selection process has the following:

FLOW CHART OF SELECTION PROCESS

Application Screening

Selection Tests

Interview

Reference Check

Physical Examination

Approval by appropriate Authority

Placement

1. Screening of Applications -: Prospective employees have to fill up some sort of application forms. These forms have variety of information about the applicants like their personal bio-data, achievements, experience, etc. Such information is used to screen the applicants who are found to be qualified for the consideration of employment. Based on the screening of applications, only those candidates are called for further process of selection who are found to be meeting the job standards of the organization. 2. Selection Tests -: Many organizations hold different kinds of selection tests to know more about the candidates or to reject the candidates who cannot be called for interview, etc. Selection tests normally supplement the information provided in the application forms. Such forms may contain factual information about candidates. Selection tests may give information about their aptitude, interest, personality, etc., which cannot be known by application forms. Types of selection tests areas follows: 1. Achievement test 2. Intelligence test 3. Personality test 4. Aptitude test 5. Interest test.

3. Interview -: Selection tests are normally followed by personnel interview of the candidates. The basic idea here is to find out overall suitability of candidates for the jobs. It also provides opportunity to give relevant information about the organization to the candidates. In many cases, interview of preliminary nature can be conducted before the selection the selection tests. For example, in the case of campus selection, preliminary interview is held for short listing the candidates process of selection. 4. Checking of References -: Many organizations ask the candidate to provide the names from whom more information about the candidates can be solicited. Such information may be related to character, working, etc. The usual referees may be previous employers, persons associated

with the educational institutions from where the candidates have received education, or other persons of prominence who may be aware of the candidates behavior and ability.

5. Physical Examination -:

Physical examination is carried out to ascertain the physical

standards and fitness of prospective employees. The practice of physical examination varies a great deal both in terms of coverage and timings. Some organizations only have general check up of applicants to find out the major physical problems which may come in the way of effective discharge of duties. In the context of timings also, some organizations locate the physical examination near the end of the selection process, others place it relatively early in the process. This latter course is generally followed when there is high demand for physical fitness.

6. Approval by appropriate Authority -: On the basis of the above steps, suitable candidates are recommended for selection by the selection committee or personnel department. Organizations may designate the various authorities for approval of final selection of candidates for different categories of candidates, Thus, for top level managers, Board of directors may be approving authority; for lower levels, even functional heads concerned may be approving authority. When the approval is received, the candidates are informed about their selection and asked to report for duty to specified persons.

7. Placement -: After all the formalities are completed, the candidates are placed on their jobs initially on probation period may range from three months to two years. During this period, they are observed keenly, and when they complete this period successfully, they become the permanent employees of the organization.

INTERVIEW Interview is selection technique that enables the interviewer to view the total individual and to appraise him and his behavior. It consists of interaction between interviewer and applicant. If handled properly, it can be a powerful technique in achieving accurate information and getting access to material otherwise unavailable. However, if the interview is not handled properly, it can be a source of bias, restricting or distorting the flow of communication. Interview is the most widely used selection technique because of its easiness.

There can be several types of interviews: Preliminary interview is held to find out whether the candidate is required to be interviewed in more detail. Stress interview is directed to create situations of stress to find out whether the applicant can perform well in a condition of stress. Patterned interview is structured and questions asked are decided in advance. This is done to maintain uniformity in different boards of interviewers. Depth interview, also known as non-directive interviewer, covers the complete life history of the applicants and includes such areas as the candidates work experience, academic qualifications, health, interests, hobbies, etc. This method is informal, conversational with freedom of expression to the candidate.

PRINCIPLES OF INTERVIEWING Interview is the most frequently used technique for selection. However, it can give better results only when it is conducted properly.

Following points can be taken into consideration to make an interview more effective:

There should be proper planning before holding the interview, what way it will be conducted, on what basis the candidate is to be evaluated, and how much weight-age will be given to interview in the total selection process. Preparation on these lines avoids ambiguity and confusion in interviewing.

There should be proper setting for conducting interview. The setting is required both of physical and mental nature. The physical setting for the interview should be comfortable and free from any physical disturbance.

The mental setting should be one of rapport between interviewer and the candidate.

When the candidate feels at ease, the interview may be started. At this stage, the interview obtains the desired information and may provide the information sought by the candidate. The interviewer should ask questions in a manner that encourages the candidate to talk. He should listen to carefully when the candidate is furnishing the information. This gives an impression to the candidate that the interviewer is quite serious about him and he will do his best.

The interview of the candidate should close with pleasant remarks. If possible, the interviewer should give an induction about the likely end of interview. Saying thanks, good wishes or similar things carries much better impression about the interviewer.

Immediately after the interview is over, the interviewer should make an evaluation of the candidate. At this stage, the things are quite fresh mind.

He can give remarks about the characteristics of the candidate or give grade or mark as the case may be. This will help the interviewer to make a comparative evaluation of all candidates easily.

PLACEMENT AND INDUCTION

After a candidate is selected for employment, he is placed on the job. Initially, the placement may be probation, the period of which may range from six months to two years. After successful completion of the probation period, the candidate may be offered permanent employment.

After the initial placement of the candidate on the job, his induction is necessary. Induction is a technique by which a new employee is rehabilitated into the changed surroundings and introduced to the purposes, policies and practices of the organization, employees job and working conditions, salary, perks, etc. In other words, it is the process of introducing the employee to the organization and vice versa.

Induction is required because of following reasons:

1. When a new employee joins an organization, he is a stranger to the organization and vice versa. He may feel insecure, shy, and nervous in the strange situation. He may have anxiety because of lack of adequate information about the job, work procedures, organizational policies

and practices, etc. In such a case, induction is needed through which relevant information can be provided; he is introduced to old employees and to work procedures. All these may develop confidence in the candidate and he may start developing positive thinking about the organization.

2. Effective induction can minimize the impact of reality shock some new employees may undergo. Often, freshers join the organization with very high expectations which may be far beyond the reality. When they come across with reality, they often feel shocked. By proper induction, the new comers can be made to understand the reality of the situation.

Every organization has some sort of induction program either formally or informally. In large organizations where there are well-developed personnel functions, often induction programmes are undertaken on formal basis, usually through the personnel department. In smaller organizations, this may be done by the immediate superior of the employees.

SELECTION AND RECRUITMENT AT BRAND FACTORY

Activity Activity Float Vacancies

Responseblity

Float Vacancies

Operations/ Business Development

Sourcing Profiles

Human Resources

Functional Manager/HR

Interview Round

Selection & Offer

Human Resources

Warm-up & Joining

Human Resources

2.1

RECRUITMENT AND SELECTION PROCESS FLOW CHART OF BRAND FACTORY

VACANCY

OLD SITES

NEW SITES

UNDERSTAND THE JOB DESCRIPTION FOR THE POSITION

CV COLLECTION (CV DATABANK / DIFFERENT SOURCE)

CV VALIDATION, SHORTLISTING AND INTERVIEW CALL TO CANDIDATE THROUGH PHONE THROUGH REFERENCES HR ROUND

HR ROUND

CANDIDATE RATING SHEET

TEST

TECHNICALINTERVIEW

STORE MANAGER /DOCUMENT VERIFICATION

OFFER LETTER

JOINING AND IND JOINING AND INDUCTION

2.2

In Pantaloon (I) retail ltd., the vacancy for any post created from two kinds of sites: Old Site : The old site is one where the Pantaloon is operational and the vacancy in this forwarded to HR by Operations Dept.

New Site : The new site is one where company have to start the new business. The vacancy may be forwarded by Business Development Department.

In , Pantaloon (I) retail ltd. the HR department gets the description of the vacancy either through the E-mail or through the telephonic call. As soon as the HR receives the initial intimation of vacancy, the HR sends the Manpower Requisition Form which needs to be filled by the Concerned person to explain the details about the position. This form gives the whole

description related to position such as job description, salary details, desired qualification, shift timings, experience etc.

The usual set of positions is mentioned below:

BAND

Position (Store) Sales Staff ADM/DM/ Backend Support ASM / SM

Position (HO & Zonal Office) Coordinator Sr. Executive / Executive

Band1 Band2

Band3

Deputy Manager / Asst. Manager

Band4

Store Manager / Area Manager

Senior Manager / Manager

Band5 1.13

Head / Chief

HR Department finds the candidates according to the Job description provided in Manpower Requisition Form. Through the various sources as follows:

Sources of Recruitment

a)Consultancy Services: For top level management, employees are recruited through private consultants. They are usually appointed as Departmental Managers.

b) Walk-ins: This is the main source through which brand factory recruits its employees. People seeking job usually themselves approach the HR department for job vacancy. Employees usually selected from this source are appointed at the entry level as team members.

c)Employee Referrals: This is the other main source through which employees are selected. Candidates who have given their previous employer as referrals are first interviewed and from their previous employer, opinion is taken about their behavior and performance in the job. If they receive a positive opinion from their previous employer they are selected.

d)Campus Recruitment: Young people bring new ideas and fresh enthusiasm. Therefore brand factory visits some of the reputed educational institutions to hire some of the most talented and promising students as its employees. Selection Procedure.

The following is the selection procedure that the HR department practices to hire its employees.

i) Interview: For entry level jobs, the candidates are interviewed by a HR person. They are asked a few basis questions about their education, previous work experience if any, languages known etc. This is done to evaluate the candidates ability to communicate freely and also other skills.

ii) Psychometric Tests: For higher and top level jobs, candidates are asked to answer a few questions which basically test their sharpness, analytical ability, ability to handle stress, presence of mind etc. This is done as Managers are required to work under stress all the time and still maintain a cool head to make some vital decisions.

iii) Group Discussion: In campus recruitment students are involved in a Group Discussion, where they will be given a topic on which the group has to deliberate, discuss and arrive at a solution or a decision which is accepted by the whole group. Along with the G D they are also given a written aptitude test. Finally a formal interview will be conducted to assess the overall skills of the student.

SELECTION PROCESS

CANDIDATE FINALISED : Once a candidate is finalized, he has to submit the following documents:

i. ii.

Last salary slip Last appointment letter

REFERENCE CHECK : After the submission of slip and the appointment letter, the candidate has to give the names and contact details of two professional references from his current company/any of the previous companies where he has worked earlier.

A telephonic call is made to the persons and the following is checked:

i. ii. iii. iv.

Education background Professional Background Personal background Interpersonal skills for the formalities.

OFFER ROLL OUT : After checking all the references, if the candidates are found suitable, the offer letter is rollout to the candidate for joining.

GROOMING

Grooming of the staff plays a very important role in having

customers impression about the

organization . A customers impression of an organization comes from or her impression of the people who make and represent the organization.

A smart , well groomed sales person makes a positive impression. Personal presentation should be in good taste. An upright posture made conveys physical fitness and positive attitude.

Grooming standards at Brand factory (Future Group):-

HAIR:

1. Well cut neat hair at all times. 2. Modest ,neat ,simple and manageable hairstyles. 3. Hair kept off the face. 4. Single hair colour no artificial hair colour. 5. Hair spray to keep hair in place. 6. Black coloured Pins, Clips, hairband etc. 7. Always comb hair before commencing duty, never in front of customers.

HAIR MEN:

1. Conservative, neat and well trimmed. 2. NOT touching the collar and ears. 3. Side burns till the top of the ear. 4. Well trimmed and maintained moustache. 5. NOT exceeding below the upper lip at the side or dropping over the lips.

6. Black colored well tied turbans at all the time.

HAIR-WOMAN:

1. Naturally curly hair to be combed & controlled to avoid looking bushy & disheveled . 2. Permed hair must be taken care of & maintained at all times to look neat & well groomed. 3. Hair longer than shoulder length must be tied in one of the following styles: Pony tail/Braid Bun French Braid

4. Hair must NOT be fringed at the forehead.

 Jewellery/Accessory 1. When worn with uniform must be of good quality & simple design. 2. Avoid bright colored or plastic jewellery / accessory. 3. Jewellery for ankles & nose must NOT be worn with uniform. 4. Pointed/sharp edged setting on jewellery/accessory may cause injury to self & others & may even damage products.

JEWELLERY/ACCESSORY - MEN

1. Well fitted watch with a plain & simple dial & conservative design. 2. Band may be silver, gold or leather in neutral colours. 3. A single kada may be worn but NOT a bracelet.t 4. Only one ring in each hand of a simple design. 5. Simple, non ornate design of spectacles is suitable that fits the wearer well & is proportionate to his face size. 6. Spectacles must NOT be of bright colours Well polished & maintained shoes of black leather with a maximum heel of an inch. 7. Men must NOT wear earrings.

JEWELLERY/ACCESSORY - WOMEN

1. Single gold/silver chain, NOT too thick. 2. Pendants, if worn must, NOT be visible. 3. Single earring studs made of silver/gold with small size pearl, diamond/stone. 4. Only very small loop style earrings. 5. Dangling earrings must NOT be worn. 6. Second earring, if worn must be a stud. 7. Watches with simple dials & bands made of gold/silver or neutral colour leather 8. Single, thin bracelet of gold/silver or pearl 9. Oxidised silver jewellry must NOT be worn. 10. Only one ring in each hand of a simple design. 11. Well polished & maintained closed shoes of black leather with maximum heel of 2 inches.

HANDS MEN & WOMEN

1. Hands during duty are in constant view of the customers. 2. Hands are used continuously to handle merchandise. 3. It is important to take care of hands & keep them clean & free of any stains at all times. 4. Nails must be of conservative length & NOT chipped or too long. 5. Nail polish if worn by women, must be of pastel shades & NOT chipped at any time .

 PERSONAL HYGIENE 1. As sales staff we are in constant touch with our customers. 2. It is important that we take utmost care to appear clean, well groomed & hygienic when serving them. 3. Daily bath/shower is a must for all. 4. A very light fragrance may be used. 5. Teeth braces must NOT be worn. 6. Regular dental cleaning & treatment of stained or discolored teeth.

HYGIENE

1. Routine cleaning of teeth & use of breath fresheners is a good habit to follow. 2. Regular shampooing & care of hair. 3. Hands to be washed & dried properly after every visit to the wash room.

Relationship between grooming and sales:

CORRELATIONS

Descriptive Statistics

Mean total grooming points weekwise sales weekwise 421.6250 4.9371E6

Std. Deviation 6.61033 6.53418E5

N 8 8

The above table is showing us that the mean grooming points of all the employees for the eight weeks are 421.62 and mean sales for the eight weeks is rs.49,37,106. Also the standard deviation of grooming points and sales from their mean is 6.61 and 6.53 respectively.

Correlations total grooming points weekwise total grooming points weekwise Pearson Correlation Sig. (2-tailed) N sales weekwise Pearson Correlation Sig. (2-tailed) N 8 -.429 .289 8 8 1

sales weekwise -.429 .289 8 1

This table is telling us about the correalation between the total grooming points and sales ,i.e if there is any impact of grooming of employees on sales or not?

So by this table the Pearson correlation comes out to be -.429 both in respect to each other ,it means that the two variables are `negatively moderately correalated`. The significant value is .289 which is greater than .05,so we can say that the sample is not representing the whole population.

Performance appraisal

A performance appraisal, employee appraisal, performance review is a method by which the job performance of an employee is evaluated in terms of quality, quantity, cost, and time typically by the corresponding manager or supervisor. A performance appraisal is a part of guiding and managing career development. It is the process of obtaining, analyzing, and recording information about the relative worth of an employee to the organization. Performance appraisal is an analysis of an employee's recent successes and failures, personal strengths and weaknesses, and suitability for promotion or further training. It is also a tool of judgment of an employee's performance in a job based on considerations other than productivity alone.

Performance appraisal is tool to evaluate the candidate or employee against his prescribed KPA(Key Performance Area). KPA is the description of role and responsibilities, KRA or JD(Job Description) includes- job description and job specification.

Objective of a performance appraisal are to:

Give employees feedback on their performance.

Identify the employee training needs.

Document criteria used to allocate organizational rewards.

Make decisions on salary increment, promotions, disciplinary actions ,bonuses, etc.

Provide the opportunity for organizational diagnosis and development.

Facilitate communication between employee and administration.

Validate selection techniques and human resource policies to meet federal Equal Employment Opportunity requirements.

To improve performance through counselling, coaching and development

Methods of Performance appraisel:

A comman approach to assessing performance is to use a numerical or scaler rating system Whereby managers are asked to score an individual against a number of objectives/attributes.

The most popular methods used in the performance appraisal includes the following:-

1. Critical incident method. 2. Weighted checklist method. 3. Paired comparison method. 4. Graphic rating scale. 5. Essay evaluation method. 6. Behaviorally anchored rating scale. 7. Performance ranking method. 8. Management by Objectives(MBO) method. 9. 360 degree performance appraisal method. 10. Forced ranking (forced distribution) method. 11. Behavioral observation scale. 12. Appraisal by superiors. 13. Self appraisal method

1. Critical incident method

The critical incidents for performance appraisal is a method in which the manager writes down positive and negative performance behavior of employees throughout the performance period.

2. Weighted checklist method

This method describe a performance appraisal method where rater familiar with the jobs being evaluated prepared a large list of descriptive statements about effective and ineffective behavior on jobs.

3. Paired comparison analysis

Paired comparison analysis is a good way of weighing up the relative importance of options. A range of plausible options is listed. Each option is compared against each of the other options. The results are tallied and the option with the highest score is the preferred option.

4. Graphic rating scales

The Rating Scale is a form on which the manager simply checks off the employees level of performance. This is the oldest and most widely method used for performance appraisal.

5. Essay Evaluation method

This method asked managers / supervisors to describe strengths and weaknesses of an employees behavior . Essay evaluation is non-quantitative technique This method is usually use with the graphic rating scale.

6. Behaviorally anchored rating scales

This method used to describe a performance rating that focused on specific behaviors or sets as indicators of effective or non-effective performance.It is a combination of the rating scale and critical incident techniques of employee performance evaluation

7. Performance ranking method

Ranking is a performance appraisal method that is used to evaluate employee Performancefrom besttoworst. Manager will compare an employee to another employee, rather than comparing each one to a standard measurement.

8. Management by Objectives (MBO) method

MBO is a process in which managers / employees set objectives for the employee, periodically evaluate the performance, and reward according to the result.

MBO focuses attention on what must be accomplished (goals) rather than how it is to be accomplished (methods).

9. 360 degree performance appraisal

360 Degree Feedback is a system or process in which employees receive confidential, anonymous feedback from the people who work around them. This post also include information related to appraisal methods such as 720, 540, 180

10.Forced ranking (forced distribution)

Forced ranking is a method of performance appraisal to rank employee but in order of forced distribution.

For example, the distribution requested with 10 or 20 percent in the top category, 70 or 80 percent in the middle, and 10 percent in the bottom.

11. Behavioral Observation Scales

Behavioral Observation Scales is frequency rating of critical incidents that worker has performed.

12.Appraisal by superiors: In this method of appraisal appraisers are evaluated by their respective boss or supervisors.

13.Self appraisal method: Self appraisal is an important part of performance appraisal process where employee himself gives the feedback o his points and views regarding his performance. Usually this is done with the help of a self appraisal form where the employee rates himself on various parameters , tells about training needs and about accomplishments, strengths, weakness, problems faced etc.

Important points for SELF-APPRAISALS

Behonest Always be truthful and honest while telling your accomplishments or failures. Dont exaggerate your strengths and dont hide your weaknesses. Dont make personal judgments for anybody.

Do the preparation:-

Its always better to prepare yourself before the meeting. Get all the lists in place, prepare all the evidences and references.

Be objective:-

Objectivity is important in self appraisal. Dont exaggerate or downplay your achievements or failures. Be specific and concise in your statements and if possible support them with examples or references or evidences with dates. For example: "I responded to all queries within 48 hours" is better than just saying "My customer service was good."

Positive attitude:-

Have a positive attitude towards the whole appraisal process. Be co-operative. Dont hesitate from taking the responsibility of your failures as well as the achievements. Demonstrate enthusiasm to improve in future and take all his suggestions calmly. Dont complain or demonstrate a negative attitude.

Cover all the aspects:-

Apart from your strengths, weaknesses, accomplishments and failures, express the opportunities you would like have for your development and improvement. Suggest ways to overcome the problems faced. Assess your capabilities, behaviors and skills and competence.

Seek future responsibilities:According to the assessment of the KRAs according to your job description, plan the short term and long term for the next year. Try to look for tasks beyond your current job responsibilities. This will help in personal development as well as contributing to the organizational productivity.

Self appraisal should ideally include the accomplishments, the goals achieved, the failures, and the personal growth (i.e. new skills acquired, preparation for the future etc.), the obstacles faced

during the period, the efforts for removing them, the suggestions, and the areas of training and development felt by the employee.

PERFORMANCE APPRISAL AT PANTALOON RETAIL INDIA LIMITED (Brand Factory)

OBJECTIVES

Data relating to performance assessment of employees arc recorded, stored. and used for seven purposes. The main purposes of employee assessment are:

1.To effect promotions based on competence and performance.

2. To confirm the services of probationary employees upon their completing the probationary period satisfactorily.

3.To assess the training and development needs of employees.

4. To decide upon a pay raise where (as in the unorganized sector) regular pay scales have not been fixed.

5. To let the employees know where they stand insofar as their performance is concerned and to assist them with constructive criticism and guidance for the purpose of their development.

6. To improve communication. Performance appraisal provides a format for dialogue between the superior and the subordinate, and improves understanding of personal goals and concerns. This can also have the effect of increasing the trust between the appraiser and the apprise.

7. Finally, performance appraisal can be used to determine whether HR programmes such a selection, training, and transfers have been effective or not.

Broadly, performance appraisal serves four objectives-

(i) developmental uses,

(ii) administrative uses/decisions,

(iii) organizational maintenance/objectives, and

(iv) documentation purposes

Table below outlines these and specific uses more clearly:-

Multiple Purposes of Performance Assessment

General Applications Developmental Uses

Specific Purpose Identification of individual needs Performance feedback Determining transfers and job assignments Identification of individual strengths ad development needs Salary Promotion Retention or termination Recognition of individual performance Lay-offs Identification of poor performers HR planning Determining organization training needs Evaluation of organizational goal achievement Information for goal identification Evaluation of HR systems Reinforcement of organizational development needs Criteria for validation research Documentation for HR decisions Helping to meet legal requirements

Administrative Uses/Decisions

Organizational Maintenance/ Objectives

Documentation

1.14

PERFORMANCE APPRAISAL AND COMPETITIVE ADVANTAGE IN PANTALOON (I) RETAIL LTD. The objectives of performance appraisal, point out the purpose which such an exercise seeks to meet. What needs emphasis is that performance evaluation contributes to companys competitive strength. Besides encouraging high levels of performance, the evaluation system helps identify employees with potential, reward performance equitably and determine employee's need for training. Specifically, performance appraisal has helped the Pantaloons gain competitive edge in the following ways :

Improving Performance Strategy and Behavior Making correct decisions

Competitive Advantage Ensuring Legal Compliance Minimizing dissatisfaction and turnover

Values and Behavior

Pantaloon (I) Retail Ltd. Conducts appraisals: At the end of the year

Appraisals are based on Balanced Scorecard, which tracks the achievement of employees on the basis of targets at following levels :

1. Core values of the company. 2. Competencies. 3. KRA

Core values of the company: The seven Core values of the company have 15 percent weight age in the appraisals.

Competencies: Competencies of the employee have 15 percent weightage in the appraisals.

Key R Area: The weightage given to KRAs is 70 percent.

The weightage given to each attribute is based on the function the employee performs. Based on their individual achievements, employees are rated on a scale of one to five (five = superstar). If employees get a low rating (less than two) in two consecutive appraisals, the warning flags go up. If the poor performer continues getting low scores then the exit option may be considered.

Over the years Pantaloon has found the pattern that leads to the maximum decline in performance - boredom. If employees work for more than two years on the same project typically either their performance dips or they leave the organization. To avoid that, Company shuffles its employees between projects every 18 months or so.

Performance drops if motivation drops

At the heart of an employee's satisfaction lies the fact that his performance is being appreciated and recognized. Pantaloons performance management system has metamorphosed into one that emphasizes objectivity and a system that mandates performance evaluation against predetermined criteria. What deserve special mention is the active participation of the senior management in the determination of guidelines for the performance appraisal process. The process ensure buy in of the employees since the guidelines for the rating system and its conversion into money terms is not unilaterally decided by HR but is a consensus of a cross functional team with representation from all levels.

Pantaloon's performance appraisal system is supported by an online system called the Human Resource Management System- an Oracle Developer 2000 based tool. The system individual right from his biographical details to his projects performance. An employee's performance history at the click of a button and this accurately maintained for 14000 employees. Right from his entry, an employee in Pantaloon get formal performance feedback once very two months till such time that he is confirmed after which the performance feedback is provided twice every year on a formal basis. Pantaloon however widely encourages informal feedback discussions between Project Leaders and Team Members and this concept has found an overwhelming appeal among the people.

Sources of Data

The data is collected through both sources primary as well secondary but the main major portion of data is collected through primary sources.

Conclusion

Here are some conclusions drawn from the data: y Most of the employees are satisfied with the recruitment and selection process initiated by the company. Most of the employees are satisfied with the Induction process they receive in the company.

Employees feel that the Induction programs are carefully designed and appropriately match with the expectation of the new joinee.

Still some employees feel that the time taken to complete the interview process is more and should be reduced. Employees are much aware about the grooming standards of the organization and follow them. Performance appraisal motivate the employees to perform better.

Limitations

The topic was such that it required vast and thorough study necessitating complete enumeration of the organization and analysis of several issues. Following are the limiting factors: Collecting information from people during the working hours was difficult. Due to work shifts it was difficult to approach the employees. Some employees did not have in depth knowledge about their work and were not able to give relevant information. Most of the employees were hesitant in giving frank opinions and answer during personal interview. Time constraint is one of the limiting factors.

Bibliography

Books:

Rao, Subba(1998),Essentials of HR Management and Industrial Relations, Vikas Publishing House, New Delhi, Fourth Edition. Aguinis,Herman,Performance Management,Pearson Education,Second Edition.

Websites: www.pantaloonretail.in/ www.thehindubussinesline.com www.performanceappraisal.com www.bussinessballs.com>humanresouce www.icrmindia.org/casestudies