A PROJECT ON Training and Development at Sharekhan BY Aradhana Pandey UNDER THE GUDIANCE OF Prof. Shubhada S.

Ghorpade Submitted to University of Pune In partial fulfillment of award of recognition of Masters of Personnel Management (MPM) Through Asian School of Management Pune

ACKNOWLEDGEMENT

To accomplish a project it involves a lot of effort and contribution from a number of people. It is thus an opportunity for me to thanks those people who have helped me generously in completion of this project. Exchange of ideas generates a new object to work in a better way. Apart from the ability, labor and time devotion, guidance and cooperation are the two pillars for the success of any project. Whenever a person is helped or cooperated by others his heart is bound to pay gratitude to them. I am also grateful to my project guide Prof. Shubhada.s. Ghorpade for her time to time guidance in completing the project, the director of our college Mr. Sanjay and all staff I also thank my friends and well wishers, who have provided their whole hearted support to me in this exercise. I believe that this endeavor has prepared me for taking up new challenging opportunities in future.

Certificate from Institute

Certificate from company

INDEX

Chapter Name Executive Summary Company Profile Vision and Mission SSKI group companies SSKI corporate structure Network of Sharekhan Services offered by Sharekhan Objective and Scope of the study Research Methodology Meaning of research Research objective Sample Selection Sample plan Sample population Sampling technique Project work undertaken in the organization Training Development Training need identification for a company Benefits of training Types of training Methods of training Training process Difference between training and development How to make training effective

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Legal aspect of training Data analysis and Interpretation Findings Conclusion Recommendations Bibliography Annexure Questionnaire

EXECUTIVE SUMMARY The game of economic competition has new rules. Firms should be fast and responsive. This requires responding to customers needs for quality, variety, customization, convenience and timeliness. Meeting these new standards requires a workforce that is technically trained in all respects. To survive and flourish in the present day corporate jungle, companies should invest time and money in upgrading the knowledge and skills of their employees constantly. Here arises the necessity of Training and Development since any company that stops injecting itself with intelligence is going to die. This article is intended to give an insight to one of the primary Human Resource function i.e. Training and Development being followed in Sharekhan. The document begins with a brief overview, objectives of the study and goes on to elaborate on the need and significance of the study. It proceeds further with the methodologies being followed and how the data is collected, analyzed and interpreted. This is mainly is dealt with and the Company profile is elaborated followed by the Human Resource analysis, Statistical analysis and is concluded with Recommendations and suggestions. In this project, I have learned many things about training and development programmes carried out at Sharekhan. This research provides me with an opportunity to explore in the field of Human Resources. This research also provides the feedback of people involved in the Training and development process Apart from that it would

COMPANY PROFILE Sharekhan is the retail broking arm of S S Kantilal Ishwarlal securities Pvt. Ltd. It is Indias leading retail financial Services provider Company. It is in the Indian securities business since 1927. Its institutional Research team is rated as one of the best in the industry and rated 1st by Asia Money .Its research team covers more than 100 stocks spread over 20 sectors.

The company has over 331 share shops across 117 cities excluding franchisees in India. While our size and strong balance sheet allow us to provide you with varied products and services at very attractive prices, our over 750 Client Relationship Managers are dedicated to serving your unique needs.

Sharekhan is lead by a highly regarded management team that has invested crores of rupees into a world class Infrastructure that provides our clients with real-time service & 24/7 access to all information and products.

Our Sharekhan Professional Network offers real-time prices, detailed data and news, intelligent analytics, and electronic trading capabilities, right at your fingertips. This powerful technology complemented by our knowledgeable and customer focused Relationship Managers. It creates a world of Smart Investor. Sharekhan offers a full range of financial services and products ranging from Equities to Derivatives which enhance our wealth. Relationship Managers are available to help with financial planning and investment needs. To provide the highest possible quality of service, Sharekhan provides full access to all our products and services through multi-channels.

In starting it was only a research house but now it has got increased its area and deals in every field of trading like shares, commodity, mutual fund, PMS, etc.The main aim of the company is to provide quality services at the least cost. Sharekhan security has established now a brand name which provides the clients useful and timely information about the future at their home. The vision and mission of the company proves all these facts clearly and very soon it will achieve its mission.

VISION The vision of any company plays a key role for the success in the long term. It is decided by the key persons at the beginning of the organization. The vision of Sharekhan is to be the best retail broking brand in the Indian Equity market.

MISSION The vision is decided by the company for the long run but it is not possible for any organization to fulfill its vision which is decided in the beginning. For the very reason it divides its vision into small period Missions. So a mission is a short term target where a company wants to reach. The mission of Sharekhan is to educate and empower the individual investors to make better investment decisions through quality advice and superior service which leads the growth of the organization.

SSKI GROUP COMPANIES

SSKI Investor Services Ltd (Share khan) S.S. Kantilal Ishwarlal Securities SSKI Corporate Finance Idream Productions

SSKI CORPORARE STRUCTURE

NETWORK OF SHAREKHAN

331 branded share shops across 117 cities in India

From sharekhan.com to Indias largest chain of branded retail share Shops

The network of the Sharekhan Securities is very wide. It has emerged as a back bone for the whole country. The area of its network is 331 share shops in 117 cities of the country excluding franchisee. It has the largest chain of share shops with a brand name of Sharekhan which serves more than 100,000 clients.

SERVICES OFFERED BY SHAREKHAN

Research Based Investment Advice Training and Seminars

EQUITIES DERIVATIVES COMMODITIES PMS

Investment and Trading Services

Technology Based Investment Tools

Integrated Demat Facility

In the field of securities the brand name Sharekhan provides various services to the investors which help them to get more and more return with less amount of money. For this very purpose it provides research mails, online trading facility, online money transfer and makes training and seminars on frequent bases which makes the investors self dependent.

DIFFERENT AREAS OF TRADING Equity Sharekhan provides the services in equity trading. For this it opens the Demat a/c with trading a/c, which provide the investors a base from there they can make the share trading. Sharekhan deals in NSE and BSE both which gives the investors more choices. To help new investors it also provides the research mails. Derivatives Sharekhan deals in derivatives also in which an investor can play with future and option. This is a more advanced feature in trading but there is a need of full knowledge. Without the proper knowledge it may be harmful for the investor. Mutual Fund Sharekhan deals in Mutual Funds, the funds of small investors are collected and then the total amount is invested by the company in some beneficial shares. Small investors cant get benefit individually from their small investment but the company can provide them more return by making a collective amount of the various investors. Initial Public Offer Sharekhan also deals in Initial Public Offers. These are the first offering to the public of a company's shares on the stock market. Earlier it was very difficult task to apply for an IPO but now it is as easy as the purchase of a share. All the information relating to the IPO is provided by the company online to its customers. Commodity Sharekhan deals in commodity also which is a booming sector now a day. It is right that the commodity market is not so popular but the investment is going quickly increasing. To invest in commodity it opens the a/c and also gives research mails.

Portfolio Management Sharekhan also provide the services of portfolio management service which is managed by the company itself and the investor has to do nothing. All the decisions are taken by the company to buy or sell the shares taking into consideration the market scenario. This facility is provided by the company to the big investors who can invest more than 5 Lakhs.

OBJECTIVES OF THE STUDY

PRIMARY OBJECTIVE The primary objective of my study is to lay down the foundation of training and development. SECONDARY OBJECTIVE To apply my learning in the area of Human Resources so that I gain significant practical approach in training and development Identify the various inputs that should go into any programme. To understand the effectiveness of various training and development programmes on employees. To critically analyze training environment & personal relationship between trainer and trainee while training.

RESEARCH METHODOLOGY

MEANING OF RESEARCH:Research as the manipulation of things, concepts of symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in Construction of theory or in the practice of an art. RESEARCH OBJECTIVE To find out the satisfaction of the employees with the training programme. To identify areas of improvement in design of training and development programme. The Research Methodology followed for further work can be primarily classified into two Stages namely Exploratory and Descriptive the stepwise details of the research are as follows: Stage - I Exploratory Study: Since we always lack a clear idea of the problems one will meet during the study, carrying out an exploratory study is particularly useful. It helped develop my concepts more clearly, establish priorities and in improve the final research design. Exploratory study will be carried out by conducting: Secondary data analysis which included studying the website of the company and also going through the various articles published in different sources(magazines, books, internet, newspapers) on Small and Medium Scale Enterprises and Training and development process. Experience surveys also conduct with Assistant-Manager Human Resources and the General Manager and Personnel Officer to gain knowledge about the nature of Training and development process followed in the organization.

Stage II Descriptive Study: After carrying out initial Exploratory studies to bring clarity on the subject under study, Descriptive study will be carried out to know the actual Training and Development method being followed for the knowledge of actual training and development process is needed to document the process and suggest improvements in the current system to make it more effective. The tools used to carry out Descriptive study included both monitoring and Interrogation.

SAMPLE SELECTION Data collection methods: Primary Data

Tool for collecting primary data are as follows: Structured Questionnaire Survey and Observation\

SAMPLE PLAN The sample plan is a distinct phase of the research process It refers to the technique or the procedure a research would adopt in selecting items for sample SAMPLE POPULATION Population consists of the 30 employees of organization The research population consists of all the employees at Pune SAMPLING TECHNIQUE In the research random-cum-convenient sampling technique are being used Sample size To find out the Designing of Training and Development Programme certain step has been taken which are as follows:-

A. Initial research Sample size of 30 employees was selected. Parameters for Training and Development programme were listed.

B. Preparing a structured questionnaire Based on the initial research findings, structured questionnaire was prepared. Data was collected from employees with the help of Questionnaire.

C. Final Analysis Accumulate and generalize the data various factors ending of relationship

PROJECT WORK UNDERTAKEN IN THE ORGANISATION Human resource management is the management of employees skill, knowledge abilities, talent, aptitude, creativity, ability etc. different terms are used for denoting Human Resource Management. They are labour management, labour administration, labour management relationship, employee employer relationship, industrial relationship, human capital management, human assent management etc. Though these terms can be used differently widely, the basic nature of distinction lies in the scope or coverage and evolutionary stage. In simple sense, human resource management means employing people, developing their resources, utilizing, maintaining and compensating their services in tune with the job and organizational requirements FUNCTIONS OF HUMAN RESOURCE MANAGEMENT Administration: Strategic planning, organizational evaluation, County Board relations, policy recommendations, supervision of department staff Benefits: Health insurance, dental insurance, life insurance, disability insurance, retirement benefits, vacation, sick leave, paid holidays, section 125 plan, donor program, educational incentive, uniform allowance, and others. Compensation: Salary and benefit surveys, job evaluation, job descriptions evaluation, job descriptions Employee relations: Disciplinary processes, incident investigations, complaint/grievance procedures, labor-management relations. Employee services:

Enrollment in benefits, employee discounts for recreational spots, resolution of enrollment or claim problems, employee newsletter. Educational assistance, employee service awards Fiscal Staffing budgets, departmental budget, accounts payable, insurance receivables, insurance fund management, total package costing. Insurance receivables, insurance fund management, total package costing. Health and safety Employee assistance, workers compensation claims, drug testing, safety compliance and training. Leaves of absence: State and/or Federal Family and Medical Leave rights, County approved leaves of absence, rights upon return to work, light duty assignments for temporary periods. Payroll administration: Computer-based or manual evaluation systems, supervisory training, compliance with timeliness standards Performance appraisal: Employee files, litigation files, payroll records, safety records and other administrative files Record-keeping Job posting, advertising, testing administration, employment interviews, background investigations, post-offer employment testing. Recruitment: Recruitment is defined as a process to discover the sources of manpower to meet the requirement of the staffing schedule and to employ effective measures fir meet the requirement of the staffing schedule and to employ to employ effective measures for

attracting the manpower in adequate numbers to facilitate effective selection of an effective workforce. Selection After identifying the sources of human resources, searching for prospective employees and stimulation helps too apply for jobs in an organization, the management has to perform the function of selecting the right man at right job and at the right time. Separations and terminations Rights upon termination of employment, severance benefits, unemployment compensation, exit interviews. Training and development County-wide needs assessment, development of supervisory and management skills, employee training and workshops. Benefits orientation for new and transferring employees, Supervisory newsletter. Salary and benefit Salary/wage plans, employee benefits Importance of Human Resource Management 1: Attract highly qualified and competent people 2: Ensure thas the selected candidate stays longer with the company. 3: Make sure that there is match between cost and benefit. 4: Helps the organization to create more culturally diverse workforce Whereas, the poor quality of selection means extra cost on training and supervision. Furtheronmore, when recruitment fails to meet organizational needs for talent, a typically response is to raise entry level pay scales. This can distort traditional wages and salary relationship in organization, resulting in unavoidable consequences. Thus

the effectiveness of the recruitment process can play a major role in determining the resources that must be expended on other HR activates and their ultimate success

TRAINING Training is concerned with imparting developing specific skills for a particular purpose. Training is the act of increasing the skills of employees for doing a particular job. Training is the process of learning a sequence of programmed behavior. In earlier practice, training programme focused more on preparation for improved Performance in particular job. Most of the trainees used to be from operative levels like mechanics, machines operators and other kinds of skilled workers. When the problems of supervision increased, the steps were taken to train supervisors for better supervision. Every organization needs to have well trained and experienced people to perform he activities that have to be done. If the current or potential job occupant can meet this requirement training is not important but when that is not the case if it is necessary to raise the skills levels and increase the versatility and adaptability of employees. As the job becomes more complex, the important of employees development are not only an activity thats desirable but also an activity thats an organization must commit resources to if it is maintain a viable and knowledge work force. You can have the grains, the greatest business model in the world and the best system, but if your people cant handle the growth; you will not find that they have got a good training program and it is a part of their culture.

Historically, training and development in many organizations have had relatively short term aim of enhancing current on the job performance with the important exception of succession planning arrangement for the potential senior managers of the future. More recently, however, changes in the product market environment, the introduction of new technology and changes in the organization characteristics have all had the effect of raising the profile of training and development in both the HRM literature and practice. Training is always a means to an end and not an end to itself. Unless it leads to the effective performance of work it inevitably incurs a waste of valuable resources, these valuable resources are in terms of fundamental importance. In other words training improves, changes, moulds the employees knowledge skills behavior aptitude and attitude towards the requirement of the job and organization. Training refers to the teaching and learning activities carried on for the primary purpose of helping member of an organization, to acquire and apply the knowledge, skills, abilities and attitude needed by a particular job and organization. Organization and individuals should develop and progress simultaneously for there survival and attainment of mutual goals. So every modern management has to develop the organization through human resource development. Employee training is the important sub- system of human resource development. Employee training is a specialized function and is one of the functional operative functions for human resource management.

DEVELOPMENT Management development is all those activities and programme when recognized and controlled have substantial influence in changing the capacity of the individual to perform his assignment better and in going so all likely to increase his potential for future assignments. Thus, management development is a combination of various training programme, though some kind of training is necessary, it is the overall development of the competency of managerial personal in the light of the present requirement as well as the future requirement. Development an activity designed to improve the performance of existing managers and to provide for a planned growth of managers to meet future organizational requirements is management development.

MANAGEMENT DEVELOPMENT IS BASED ON FOLLOWING ON ASSUMPTIONS 1. Management development is a continuous process. It is not one shot programme but Continues though out the career of a manager 2. Management development is any kind of learning, is based on the assumption that There, always existing a gap between an individuals performance and his potential for the performance 3. Management development seldom takes place in completely peaceful and relaxed atmosphere. 4. Management development requires clear setting of goals 5. Management development required conducive environment

TRAINING NEED IDENTIFICATION FOR A COMPANY Introduction Training need identification is a tool utilized to identify what educational courses or activities should be provided to employees to improve their work productivity. Here the focus should be placed on needs as opposed to desires of the employees for a constructive outcome. In order to emphasize the importance of training need identification we can focus on the following areas: To pinpoint if training will make a difference in productivity and the bottom line. To decide what specific training each employee needs and what will improve his other job performance. To differentiate between the need for training and organizational issues and bring about a match between individual aspirations and organizational goals. Identification of training needs (ITN), if done properly, provides the basis on which all other training activities can be considered. Also requiring careful thought and analysis, it is a process that needs to be carried out with sensitivity as people's learning is important to them, and the reputation of the organization is also at stake. Identification of training needs is important from both the organizational point of view as well as from an individual's point of view. From an organizations point of view it is important because an organization has objectives that it wants to achieve for the benefit of all stakeholders or members, including owners, employees, customers, suppliers, and neighbors. These objectives can be achieved only through harnessing the abilities of its people, releasing potential and maximizing opportunities for development. Therefore people must know what they need to learn in order to achieve organizational goals. Similarly if seen from an individual's point of view, people have aspirations, they want to develop and in order to learn and use new abilities, and

people need appropriate opportunities, resources, and conditions. Therefore, to meet people's aspirations, the organization must provide effective and attractive learning resources and conditions. And it is also important to see that there is suitable match between achieving organizational goals and providing attractive learning

opportunities.

BENEFITS OF TRAINING For Organization: Leads to improved profitability and or more positive attitude towards profits orientation Improves the job knowledge and skills at all level of the organization Improves the morale of the workforce Helps people to identity the organizational goal Helps to create a better corporate image Faster authenticity, openness and trust Improves the relationship between boss and subordinate Aids in understanding and carrying out organizational policies

Benefits to individual: Helps the individual in making better decision and effective problem solving. Through training and development, motivational, variables of recognition, achievement, growth, responsibility and advancement and internalized Aids in encouraging and achieving and self development and self confidence Helps to handle stress, tension, frustration and conflict Increase job satisfaction and recognition

Move a person towards personnel goal and development of skills.

Benefits in personnel and human relationship Improves communication between groups and individual. Aids in orientation for new employee and those taking new job through transfer and promotion. Improves interpersonal skills. Improves morale Builds cohesiveness Provide a good climate for learning growth and coordination

Trainees and Trainers Since the real organizational needs are known, the process of training can begin. Exclusive of the training techniques, the trainees and the trainers constitute other key elements of a training programme. The trainees The selection of trainees is a very important activity in order for an organization to achieve desirable training results. According to Peel, the elements of trainees which have to be taken into consideration in order for the selection of appropriate training methods are the following: How many they are. The level of education they have. The qualifications they have. The experience they have. Why they are chosen.

What job they do now. Why they have to be trained. If they work as a team.

The trainers Trainers constitute the key for the successful holding of a training programme. It is really difficult for an organization to succeed effective trainin g if the trainers do not have the necessary abilities for that. According to Peel , possible trainers can be: Inside the company trainers. Outside consultants. Universities. Managers. Colleagues.

Many employees of the same company can be excellent with their work but it can be proved that they are not relevant to be trainers. According to Stout , the ideal trainer must be: Knowledgeable about the organization. Able to communicate effectively and listen carefully to others. Able to analyze and solve problems. Flexible in the use of training methods.

TYPES OF TRAINING On the basis of purpose several types of training programmes are offered to the employees. Some of them are: Induction or orientation Job training Apprenticeship training Internship training Refresher training or retraining Training for promotion

Induction This type of training is for new employee. This training is concerned with introducing or orienting a new employee to the organization and its procedure, rules and regulation. It helps a new employee to get acquainted with the work environment of the organization. Job training It relates to specific job, which the worker has to handle. It gives information about machines, process of production, instruction to be followed method to be used and so on. It helps the workers developing skill and confidence and enables them to perform the job efficiently. Apprenticeship training Apprenticeship training programme tends more towards education. Under this programme both knowledge and skill for doing a jib or series of related jobs are involved.

Under this programme educational or vocational institute enters into arrangement with an industrial enterprise for providing practical knowledge to its student. Internship training is usually meant for such vocations where advanced theoretical knowledge is to be backed by practical experience on the job.

Refresher training It is for the old employees of the enterprise. The basic purpose of refreshers training is to acquaint the existing workforce with the latest methods of performing their jobs and improve their efficiency further.

Training for promotion The talented employees may be given adequate to make them eligible for promotion to higher jobs in the organization.

METHODS OF TRAINING There are various methods of training. The choice of any training methods depend upon several factors like cost of training, number of worker, depth of knowledge required, background of the trainees, purpose of training and so on. The training methods may be divided into two groups: On the job training Of the job training

On the job training: - The most important type of training is training on the job. The experience of the actually doing something makes a lasting impression and has reality that other types cannot provide this training is for everybody from clerk to company president.

INTERNSHIP AND APPRENTICESHIP

VESTIBUL SCHOOL

COACHING

ON THE JOB TRAINING

JOB ROTATION

SIMULATION

ON THE JOB TRAINING IS DIVIDED INTO TWO DIFFERENT GROUPS

Vestibule training: - This method attempts to duplicate on the job situation in accompany classroom. It is classroom training, which is often imparted with the help of the equipment and machine, which are identical with those in use in the place of work. It is very efficient method used to train semiskilled personnel, particularly when many of the employees have to be trained for the same kind of work at same time. It is also save costly machines from being damaged by mishandling of the untrained workers.

Apprenticeship training: - Apprenticeship training programme tends towards more education than on the job training or vestibule training here major part of the training time is spent on the job productive work. Each apprentice is given a programme of assignment according to s predetermined schedule, which provides for efficient training and skills.

Simulation: - It is extension of vestibule training. The trainee works in the closely duplicated real job condition. This is essential in cases in which actual on the job practice is expensive, might result in serious injury and a costly error.

Demonstration and examples: - Here the trainer describes and demonstrates how to do a certain work. He performs the activity himself going through a step-by-step explanation of the why, how and what of what he is doing.

Coaching: - Under this method the supervisor imparts job knowledge and skill to his subordinate. The emphasis in coaching on learning by doing.

Under study: - The supervisor gives training to a subordinate as his under study or assistant. The subordinate learn through experience and observation. It prepares the subordinate to assume the responsibility of superior job in case superior leave the organization.

Job rotation: - The purpose of position rotation is to broader and background the trainee in various job. The trainee is periodically rotated from job to job instead of sticking to one job only so that he acquires practical knowledge of different job that is diversified knowledge. Job rotation is thus used by many organizations for all-round personality development of worker and more adaptability in them.

OFF THE JOB TRAINING METHODS ARE AS FOLLOWS Lectures:- It is regarded as one of the simplest ways of imparting knowledge to the trainee, especially when facts, concepts or principles attitude, theories and problem solving abilities are to be taught, lectures are supplemented with discussion, film shows, case studies, role playing etc. Case Study:- Under this method, a real business problem of the situation demanding solution, is presented to the group and members who are to be trained to identify the problems present, they must suggest various alternatives for tackling them, analyze them and find out their comparative suitability and decide the best solution. Conference and Seminars: - A conference is basic to most participative group centered method of development. It led emphasis on small group discussions on organized subset matter and on the active participation of the members involved.

Mutual problems are discussed and participants share their ideas and experience in attempting to arrive at better methods of dealing with this problem.

TRAINING PROCESS

Needs Assessment a) Organization Support b) Organizational Analysis c) Tasks and KSA Analysis d) Person Analysis

Instructional Objectives

Development of Criteria

Training Validity

Selection and Design of Instructional Programs

Transfer Validity

Training Interorganizational Validity Use of Evaluation Models Interorganizational Validity

Most Training Schemes And Processes Are Based On The Following Steps:

1) Identification and Selection of Training and Development Methods.

2) Creating Training Budget.

3) Selecting Training Methods & Designing Modules.

4) Implementation of the Training Programme.

5) Evaluation of the Training Programme.

1) Identification of Training Needs Training has always been important. In recent years, however, the process of training is more important than ever in order for organizations to cope with accelerating change which affects existent training needs (eg inefficient job performance) and future training needs (eg responding to the continuous progress of technology). According to Kenney and Reid, the most common methods of diagnosis of organizational training needs are the following: Evaluation of personnel. The director (or a team) evaluates the personnels performance. This process takes place periodically with an evaluation form. That form contains questions in which the ability to take good knowledge and the abilities of organizing, leadership and progress will be reported.

Analysis of work. Every step which takes place during the work performance examined in order to determine if it is really needed. After determining the necessary steps, the areas in which employees need training must be identified.

Analysis of skills. The trainer must first identify the differences between new and experienced employees, in relation to their effectiveness. These differences will show the size of the training need for the new employees.

Observation. Observation can help the trainer find out what an employee does not do correctly and in that way to determine the training needs.

Changes in the organization or the job. The creation of new job positions, the abolition of old positions and the integration of positions are some important changes which often take place in a company and generate the need for training.

Interviews between super ordinates and subordinates. Very often, when the super ordinate and the subordinate discuss matters which concern the organization, it is a good opportunity to discuss training needs as well. These interviews can be formal or informal.

Analysis of data. Selecting data from departmental records (such as personnel statistics, accident records, training reports, and staff appraisal forms) also helps to identify training needs.

What other organizations do. According to this method, small organizations must take advantage of information about what larger organizations do in relation to training.

Training needs analysis is the first critical stage in the training cycle. The cycle is continuous. The evaluation step includes a re-assessment of training needs.

There are many aspects to training needs analysis, but the essential activity involves: Determining what is required to complete the work activity; Determining the existing skill levels of the staff completing the work: Determining the training gap (if any).

The training gap is the difference between required and existing skill levels. The word "skill" is generic in this case - it includes the knowledge, skills, attitude and aptitude required to undertake the activity efficiently and effectively.

Training need analysis is done at three levels

1. Organizational analysis 2. Personal Analysis 3. Task Analysis Organizational Analysis involves determining:

The appropriateness of training, given the business strategy

Resources available for training

 Support by managers and peers for training Task Analysis involves: Identifying the important tasks and knowledge, skill, and behaviors that need to be emphasized in training for employees to complete their tasks Person Analysis involves: Determining whether performance deficiencies result from a lack of knowledge, skill, or ability (a training issue) or from a motivational or work design problem Identifying who needs training Determining employees readiness for training

LEVELS OF TRAINING NEEDS ANALYSIS What is the Context?

Organizati onal analysis

Task Analysis Personal analysis

In what do they need

training?

Who needs the training?

2) Creating A Training Budget Budgeting for training does not mean using surplus money when its available. Instead, you should build a separate line item for training into your yearly budget. A training budget should include the following costs:

Initial communication about the training program Training delivery (e.g. classes, video tutorials, e-learning, course fees) Training materials (workbooks, videos) Staff time (including replacement time) Instructor fee Travel, lodging or meal expenses required to participate Ongoing training (upkeep) Contingencies

Managing the Budget

Once approved, your training budget will need careful management to ensure that costs stay on track. Unforeseen events can lead to changing costs. A specially trained staff member might unexpectedly leave the company before their knowledge is passed on to others. Training costs will increase if you need to rely on external resources.

How Much to Spend?

Many large organizations commit to investing anywhere from two to five percent of salary budgets back into training. While that may not be realistic for you, it's

important to find a number you feel your budget can absorb. Base the figure you'll use on your needs analysis.

You may be tempted to use the least expensive trainers or training materials available. Often, using "b" level resources produces "b" results. Increase the likelihood of success by always striving for A's. Use the best caliber training you can afford.

Ways to Save

Depending on the size of your staff, you may find training costs add up quickly. Here are some ways you can save on costs:

Group training: earn volume discounts by training numerous employees at once (sometimes as few as three participants will qualify)

Re-use materials: training materials such as videos have a long shelf life and may be used repeatedly

Teach one, teach all: spend on off-site training for one employee, but have him or her present their knowledge to remaining staff

E-learning: electronic options are cheaper than traditional, instructor-led training

Another tip is to negotiate free or reduced-cost training from your vendors, who will be happy to help you if it means their product will be successful.

Remember, the right training program will save you money in the long run.

Securing Commitment

Don't forget that employee commitment is necessary for training to succeed. One way to ensure employees take the effort seriously is to have those getting specialized training to share the cost. Employees who have made a personal investment in learning will be more focused on completing the task.

If you are footing the bill, get employees to commit to working for you for a specified period of time following the training's completion. Let them know you will require reimbursement if they aren't able to fulfill the agreement.

It is also important to have full support for training efforts from senior people in your organization. If they understand the long-term value of employee development, they should be able to help by earmarking funds for training .

3) Selecting Of A Training Methods.

The best type of training methods has to be selected keeping in mind the employees needs and capabilities.

Lecture The Lecture is an efficient means of transmitting large amounts of factual information to a relatively large number of people at the same time. It is traditional method of teaching and is used in many training programs. A skilled lecture can organize material and present it in a clear and understandable way. However a lecture doesnt allow active participation by learners.

Case method A Training method in which trainees are expected to study the information provided in the case and make decisions based on it.

Simulations Simulators are training devices of varying degrees of complexity that duplicate the real world. Simulation refers to creating an artificial learning environment that approximates the actual job conditions as much as possible.

Apprenticeship This type of training refers to the process of having new worker, called an apprentice, work alongside and under the direction of skilled technician.

Internships Internships and assistantships provide training similar to apprenticeship training; however assi stantships and internships typically refer to occupations that require a higher level of the formal education than that required by the skilled trades. Many colleges and universities used to develop agreements with organizations to provide internships opportunities for students.

Coaching and Mentoring Some organizations assign an experienced to serve as a mentor for new employees. Effective mentors teach their protgs job skills, provide emotional support and encouragement. Coaching and mentoring are primarily on -the-job development approaches emphasizing learning on a one-to-one basis. Coaching

is often considered a responsibility of the immediate boss who has greater experience or expertise and is in the position to offer sage advice. The same is true with a mentor, but this person may be located elsewhere in the organization or even in another firm. The relationship may be established formally or it may develop on an informal basis.

Discussions Conferences and group discussions, used extensively for making decisions, can also be used as a form of training because they provide forums where individuals are able to learn from one another. A major use of the group discussion is to change attitudes and behaviors.

Games Simulations that represent actual business situations are referred to as business games. These simulations attempt to duplicate selected parts of a particular situation, which are then manipulated by the participants

Role playing A Training method in which participants are required to respond to specific problems they may actually encounter in their jobs.

Computer-based Computer based training is a teaching method that takes advantage of the speed, memory, and data manipulation capabilities of the computer for greater flexibility of instruction.

Multimedia Multimedia is an application that enhances computer-based learning with audio, animation, graphics, and interactive video.

Virtual reality It is a unique computer-based approach that permits trainees to view objects from a perspective otherwise impractical or impossible.

Video Training The use of videotapes continues to be a popular Training method. An illustration of the use of videotapes is provided by behavior modeling. It has long been a successful Training approach that utilizes videotapes to illustrate effective interpersonal skills and how managers function in various situations.

Vestibule training Training that takes place away from the production area on equipment that closely resembles the actual equipment used on the job.

3) Delivering the Training.

The training program that results from assessment should be a direct response to an organizational problem or need. Approaches vary by location, presentation, and type. These are summarized below the 1. Location Options

a. On the job: Training is at the actual work site using the actual work equipment b. Off the job: Training away from the actual work site. Training is at a Training facility designed specifically for Training. For the delivery of the training it must be taken care that the best methods, faculty, and environment are chosen so as the training get absorbed. Success of the training is directly related to absorption and implementation of the training information given. It should be well designed and well planned.

4) Evaluating Training

The credibility of training is greatly enhanced when it can be shown that the organization has benefited tangibly from such programs. Organizations have taken several approaches in attempting to determine the worth of specific programs. In this phase, the effectiveness of the training is assessed. Effectiveness can be measured in monetary or non-monetary terms. It is important that the training be assessed on how well it addresses the needs it was designed to address.

Participants Opinions : Evaluating a training program by asking the participants opinions of it is an inexpensive approach that provides an immediate response and suggestions for improvements. The basic problem with this type of evaluation is that it is based on opinion rather than fact. In reality, the trainee may have learned nothing, but perceived that a learning experience occurred.

Extent of Learning: Some organizations administer tests to determine what the participants in training program have learned. The pretest, posttest, control group design is one evaluation procedure that may be used.

Behavioral Change: Tests may indicate fairly accurately what has been learned, but they give little insight into desired behavioral changes.

Accomplishment of Training Objectives Still another approach to evaluating training programs involves determining the extent to which stated objectives have been achieved.

Benchmarking Benchmarking utilizes exemplary practices of other organizations to evaluate and improve training programs. It is estimated that up to 70 percent of American firms engage in some sort of benchmarking. A Case for Simplicity Value is the measure of impact and positive change elicited by the training. The most common approaches used to determine the effectiveness of training programs are as under:

a) Post Training Performance Method In this method the participants performance is measured after attending a training program to determine if behavioral changes have been made.

b) Pre-Post Test approach Most commonly used approach towards measurement of effectiveness of training is Pretest Post test approach this approach performances the employees is measured prior to training and if required training is provided. After completion if the training again the performance is measured this is compared with performance before training if evaluation is positive e.g. increase in productivity that means that training is effective.

c) Pre- Post Training Performance with control group Method Under this evaluation method, two groups are established and evaluated on actual job performance. Members of the control group work on the job but do not undergo instructions. On the other hand, the experimental group is given the instructions. At the conclusion of the training, the two groups are reevaluated. If the training is really effective, the experimental groups performance will have improved, and its performance will be substantially better than that of the control group.

Maintaining Performance after Training Effective training can raise performance, improve morale, and increase an organization's potential. Poor, inappropriate, or inadequate training can be a source of frustration for everyone involved. To maximize the benefits of training, managers must closely monitor the training process. Developing learning points, to assist knowledge retention, Setting specific goals, identifying appropriate reinforces and

teaching trainees, self-management skills can help organizations to maintain performance after training.

Following up on Training Any training or development implemented in an organization must be cost effective. That is the benefits gained by such programs must outweigh the cost associated with providing the learning experience. Training to be more effective, is supposed to be followed with careful evaluation. Evaluation methods are discussed in the previous lecture. Different techniques and approaches can be used to evaluate the training program and, if required at any level, revisions and redesigning should not be avoided. It is not enough to merely assume that any training effort of an organization is effective; we must develop substantive data to determine whether our training effort is achieving its goals- that is, if its correcting the deficiencies in skills, knowledge or attitudes that were assessed in needing attention. Training programs are expensive. The cost incurred alone justify evaluating the effectiveness.

SETTING UP OF TRAINING DEPARTMENT FOR SHAREKHAN

INTRODUCTION

Organization success depends on keeping people up-to-date and skilled in the latest concepts and techniques. Mastering knowledge is essential. Using the most effective and efficient processes is critical. Sharekhan had no separate training department the employees had to depend on each others for training also the only other option that was available in case of any problem was that of online

query or suggestion from senior employees. This was done on personal level and was time consuming task it was also not a permanent solution as more and more employees were facing similar kind of problems and also the volume of work was increasing.

The need of training department was always there but the time to initiate the setup had arrived. Sharekhan decided to form a dedicated training department to increase efficiency and productivity of the employees to minimize the repetitive errors that were caused by lack of proper knowledge and impart training to all employees at one point one time. The responsibility of this task was with Mr. Abhay Thale.

First week of training went in reading material about, Sharekhan, Trade , and Training and development. It was necessary to familiarize with the organization and the activities happening over there to understand the problems f aced by the employees of Sharekhan.

Second week went in knowing the tasks performed in Sharekhan by working with the team members and trying to get the issues they were working on like Attendance, Payroll, Compliance, ID card problems, on boarding. Here the main problems from different states were happening due to lack of proper knowledge of SAP, not knowing the implication of various critical activities, lack of coordination, and knowledge of law.

After two week work on training need analysis began by designing of a questionnaire for getting the feedback of the employees. Here SAP team made a

module called MBO transaction which reduced the time of getting the responses from each and every employee. This had the following information.

1. Training requirement as perceived by the employee.

2. Training requirement as perceived by the immediate supervisor.

3. Training received in previous year.

4. Other feedback of employees and supervisors.

Findings from training need analysis gave way for the budgeting process for the training department to take place. The budget was prepared and approved by the Head of the Business Unit. Method of imparting training was selected as giving lectures, presentation and organizing seminars on various topics it was the best that suited the budget. This was followed by selecting the faculty for the different topics of identified training needs. Also the required training material was prepared and approval was taken to impart training. A Training Calendar was prepared for training for the employees format of which is given below

Date 110708 110708 110708

Course Title Communication skills Lunch Break Managerial & Leadership Skills

Number of Start End Trainer participant Time Time Name 35 75 10:30 12:30 12:30 1:30 1:30 3:30 Shruti Pandit Abhay Thale

Process flow for Setting up training department for Sharekhan

List down all the activities and sub activities

List all goals and objectives for all positions

Analyse the difference between expected and actual performance.

Take suggestion from the HODs & State heads (Voice of Customer)

Training needs Identification

Prepare Budget and take approval

Choose faculty

Prepare training Modules

Create Training Calendar

Conduct training, take feedback and check effectiveness

DIFFERENCE BETWEEN TRAINING AND DEVELOPMENT Training:1. Training means learning skills and knowledge for doing a particular job. It increases job skills. 2. The term training is generally used to denote imparting specific skills among operative workers and employees. 3. Training is concern with maintaining and improving current job performance. Thus, it has short-term perspective. 4. Training is job centered in nature. 5. The role of trainer or supervisor is very important in training. AREA Content TRAINING Technical knowledge skills DEVLOPMENT and Managerial behavioral knowledge Purpose Specific job related Conceptual and general knowledge Duration For whom Short term Mostly technical Long term and Mostly for managerial Personnel skills and and

non-managerial Personnel

HOW TO MAKE TRAINING EFFECTIVE Action on the following lines needs to be initiated to make training practice effective:1. Ensure that the management commits itself to allocate major resources and adequate time to training. 2. Ensure that training contributes to competitive strategies of the firm. Different strategies need different HR skills for implementation. Let training helps employees at all levels acquire the needed skills. 3. Ensure that a comprehensive and a systematic approach to training exist, and training and retraining are done at all levels on a continuous and ongoing basis. 4. Make learning one of the fundamental values of the company. Let this philosophy percolate down to all employees in the organization. 5. Ensure that there is proper linkage among organizational, operational and individual training needs. 6. Create a system to evaluate the effectiveness of training.

LEGAL ASPECT OF TRAINING Confirm claims of skill & experience for all applicants. Reduce the risk of harm by extensive training of employees who work with dangerous equipment, materials or process. Ensure that the training includes procedure to protect third parties health and safety (including that of other employees). Evaluate the training activity to determine its effectiveness in reducing negligence risk.

To cook a new CEO in you, we have started a unique Program for fresh graduates who have a passion to achieve. We aim to take a set of young people, and set their minds on fire! They are offering a comprehensive Sales and Marketing training on IT products, Service and Solutions. It is proposed to be a yearlong training with 3-4 weeks of residential Instructor Led Training (ILT), during which the candidate undergoes Sales orientation classes alongside Technical grooming on IT, Technology, IT Products, Services and Solutions. The remaining period would be live sales experience under the vastly experienced staff. Trainee will be eligible for a monthly stipend after completing the ILT; he could also earn high incentives on performance basis.

ANALYSIS AND INTERPRETATION OF THE DATA

1. Which type of training have you attended?

Training type Pre-employment training programme Post-employment training programme Both None Total

Number of employee 8 5 15 2 30

Percentage of employee 26.67 16.67 50.00 6.67 100.00

Percentage of employee
7% 26% Pre-employment training programme Post-employment training programme Both 50% 17% None

Inference: 26% of employees have attended Pre- Placement training programme where as 17% have attended Post-employment programme and around 50% have gone for both of the training programme and only 7% have not attended any of the training programme

2. Process of training of the employees?

Training process Theoretical Practical Both Total

Number of employee 3 11 16 30

Percentage of employee 10.00 36.67 53.33 100.00

Percentage of employee
10%

Theroretical Practical 53% 37% Both

Inference: 10% of employees said that the training program was theoretical, 37% said that it was practical where as 53% of employees said it was both theoretical as well as practical.

3. Training environment was?

Training environment Satisfactory Unsatisfactory Can't say Total

Number of employees 20 8 2 30

Percentage of employee 66.67 26.67 6.67 100.00

Percentage of employee
7%

27%

Satisfactory Unsatisfactory Can't say 66%

Inference: 66% of employees were satisfied with the environment of the training programme where as only 27% were not satisfied and rest 7% of employees did not say anything.

4. Is training provided for short or long duration?

Training Duration Long Short Total

Number of employees 8 22 30

Percentage of employee 26.67 73.33 100.00

Percentage of employee
Long Short

27%

73%

Inference: Most of the employees said that the duration of training was short and some of the employees said that training duration was short.

5. Does the company provide study material before the training programme?

Option Yes No Total

Number of employees 18 12 30

Percentage of employee 60 40 100.00

#REF!

100%

Inference: Most of the employees said that the study material is provided before the training programme whereas a good number of employees denied. The graph above shows that most of the times study material is provided before the training

6. Does the training enhance organization effectiveness?

Option Yes No Total

Number of employees 24 6 30

Percentage of employee 80 20 100.00

Percentage of employee
Yes No

20%

80%

Inference: Majority of the employees agreed that the training enhances the effectiveness of the organization.

7. Has the training help to improve your on-the-job performance?

Improvement of training Improved No improvement Can't say Total

Number of employees 22 5 3 30

Percentage of employee 73.33 16.67 10.00 100.00

Percentage of employee
10%

17%

Improved Noimprovement Can't say 73%

Inference: Around 73% of the employees feel that due to training there has been an improvement in their performance, where as only 17% have said that their was no improvement and rest 10% have not said anything

8. Do you accept the training will enhance your competency and knowledge?

Option Yes No Total

Number of employees 22 8 30

Percentage of employees 73.33 26.67 100.00

Percentage of employees

27% Yes No 73%

Inference: 73% of the employees felt that training enhanced their competency and knowledge where as only 27% say it did not.

9. Would you like to be trained online?

Option Yes No Depends upon the job Total

Number of employees 15 7 8 30

Percentage of employees 50.00 23.33 26.67 100.00

Percentage of employees

27% Yes 50% No Dxepends upon the job 23%

Inference: Around 50% of the employees like to have on the job training and 23% like off the job where as the rest 27% said that it depends upon the job it is.

10. Do you require a high degree of technical knowledge for your job?

Option Yes No Total

Number of employees 20 10 30

Percentage of employees 66.67 33.33 100

Percentage of employees

33% Yes No 67%

Inference: Around 67% respondent required a high degree of technical knowledge for their jobs whereas remaining 33% did not.

11. What kind of behavioral training do you need? Percentage of employees 16.67 33.33 16.67 33.33 100

Training Type Presentation Skills Managerial & Leadership Skills Communication skills Other Supplementary Total

Number of employees 5 10 5 10 30

Percentage of employees
Presentation Skills Communication skills Managerial & Leadership Skills Other Supplementary

17% 33%

33% 17%

(Other supplementary needs include: Assertiveness, Problem solving, Innovation & Creativity, Time Management Quality management, Customer Centricity, Promptness, and Attention to detail)

Inference: Most of the employees need managerial and leadership skills training, some of them need presentation and communication skills training whereas a good number of people are interested in other supplementary.

12. Does training build up team work?

Option Yes No Total

Number of employees 25 5 30

Percentage of employees 83.33 16.67 100

Percentage of employees
17%

Yes No

83%

Inference: Almost 83% respondents agreed that training helps in building team work but remaining 17% did not.

13. Do you get innovative ideas during training?

Option Yes No Total

Number of employees 20 10 30

Percentage of employees 66.67 33.33 100

Percentage of employees

33% Yes No 67%

Inference: Majority of the people i.e. 67% said that they get innovative ideas during training whereas 33% said they dont.

14. Are you satisfied with the training procedure?

Option Yes No Total

Number of employees 18 12 30

Percentage of employees 60 40 100

Percentage of employees

40% Yes No 60%

Inference: 60% of the respondents were satisfied with the training procedure whereas 40% were not.

SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

FINDINGS The study shows 26% of employees have attended Pre- Placement training programme where as 17% have attended Post-employment programme and around 50% have gone for both of the training programme and only 7% have not attended any of the training programme. 53% of employees say it both theoretical as well as practical knowledge is being provided during the training.66% of employees of are satisfied with the environment of the training programme where as only 27% are not satisfied and rest 7% of employees have not said anything. Most of the employees feel that due to training there has been an improvement in their performance, where as only 17% have said that there was no improvement and rest 10% have not said anything. Majority of the employees feel that training enhances their competency and knowledge where as only 27% say it does not. 50% of the employees like to have on the job training and 23% like off the job where as the rest 27% say that it depends upon the job it is. Half of the sample size was ready to go for online training. Most of the employees think that training helps in building team work. Majority of the respondents agreed that they get innovative ideas during training and they were satisfied with the training procedure.

CONCLUSION

The training and development activities are needed in the organization because mostly employees are interested to take training and development for future growth.

Thus, it is clear that training and development activities are needed for employees performance and organizational development.

It clearly indicates that employees are interested in training & development activities; they feel that such types of activities are necessary for improving their performance and creating awareness among the employees.

It is clear that both type of method on and off the job are used in company for training purpose. Conclusion is that company should used new methods for Training and development.

Training and development programme should be made on actual needs of the employees and organization.

Training and development programme should be more frequently on timely basis.

Training and development should make compulsory for new employee and old employee.

RECOMMENDATION

In order to achieve excellence in training and development program, it is advisable to further improve the quality level of trainers that in term will be beneficial for both employees and organizations.

It is further advisable to make use of video conferencing, so that trainers from different cities can actually give their inputs to the employees of other cities.

Quality of hand outs distributed can be given more consideration in order to increase the knowledge and conceptual clarity of employees.

If it would be possible that people can be trained on the job then it should be done so that they could get a practical knowledge of that and time management could be done.

The training programme should not be too lengthy as people can lose their interest.

BIBLIOGRAPHY

Research Methodology by C.R. Kothari www.sharekhan.com

www.google.com

www.citehr.com

ANNEXURE

QUESTIONNAIRE ON EMPLOYEE TRAINING AND DEVELOPMENT

I. EMPLOYEE DETAILS: a .Name: a. Designation: b. Name of the Organization: c. Years of Experience in the Organization: d. Income Level (Annual): Below 6 Lacs 6-10Lacs Above10 Lacs

II. DETAILS OF TRAINING AND DEVELOPMENT 1. Which type of training have you attended? Training type Pre-employment training programme Post-employment training programme Both None 2. Process of training of the employees? Training process Theoretical Practical Both 3. Training environment was?

Training environment Satisfactory Unsatisfactory Can't say

4. Is the training provided for short duration or long duration? Long Short

5. Does the company provide study material before the training programme? Yes No

6. Does the training enhance organization effectiveness? Yes No

7. Has the training help to improve your on-the-job performance? Improvement of training Improved No improvement Can't say

8. Do you accept the training will enhance your competency and knowledge? Yes No

9. Would you like to be trained online? Yes No Depends upon the job

10. Do you require a high degree of technical knowledge for your job? Yes No

11. Does training build up team work? Yes No

12. Do you get innovative ideas during training? Yes No

13. Are you satisfied with the training procedure? Yes No