About Sharekhan Sharekhan is Indias leading online retail broking house. Launched on February 8, 2000 as an online trading portal, Sharekhan has today a pan- India presence with over 1,529 outlets serving 950,000 customers across 450 cities. It also has international presence through its branches in the UAE and Oman. Sharekhan offers services like portfolio management, trade execution in equities, futures & options, commodities, and distribution of mutual funds, insurance and structured products. These services are backed by quality investment advice from an experienced research team which offers investment and trading ideas based on fundamental and technical research respectively, market related news, statistical information on equities, commodities, mutual funds, IPOs and much more. Sharekhan is a member of the Bombay Stock Exchange, the National Stock Exchange and the countrys two leading commodity exchanges, the NCDEX and MCX. Sharekhan is also registered as a depository participant with National Securities Depository and Central Depository Services. Sharekhan has set category leadership through pioneering initiatives like Trade Tiger, an Internet-based executable application that emulates a broker terminal besides providing information and tools relevant to day traders. Its second initiative, First Step, is targeted at empowering the first-time investors. Sharekhan has also set its global footprint through the India First initiative, a series of seminars conducted by Sharekhan to help the non-resident Indians participate and benefit from the huge investment opportunities in India.
About the CEO: Tarunbhai Shah This broking-house-industry veteran has a reason to push the envelope. He has set himself a lofty task of almost doubling Sharekhan's profit to Rs. 200 crore before it lists on domestic bourses. Though Mr. Shah may have managed to buy time from investors till mid-2012 for a listing, the goal appears stiff, given that retail investors, who form their client base, did not trade much in the scorching stock market rally in recent months and are yet to show any inclination to return. But Mr. Shah, a science graduate from Mumbai's St. Xavier's College, is not new to challenges in his decade-long stint at Sharekhan. "In June 2001, we had cash flows to last us for just 3-4 months...around 20 lakh, investors had lost confidence in us and were not willing to put in money, our infrastructure and systems were expensive," recounts Mr. Shah. Having taken up the task of turning around Sharekhan, generating cash was the priority. For that, he cut costs, including closing down the fundamental research unit, and changing the online technology platform. The decision to restrict research services to technical analysis seemed logical, as the market was yet to pick up after the dotcom bubble burst. Another instance in May 2006 strengthened Mr. Shah's reputation, at least among his colleagues, as a person who can handle pressure-cooker situations with ease. A former Sharekhan employee, who now occupies a senior position in a rival broking firm, recollects that Sharekhan was in deep trouble after the Sensex plunged close to 2000 points in four out of five sessions starting May 18 that year. Many high net worth clients, who had huge positions in futures, were suddenly facing mark-to market losses. They were not paying up the shortage and there was serious shortfall of funds. That was when Tarunbhai took charge," he said. For the next couple of weeks, Mr. Shah took over the accounts from the relationship managers and was directly keeping track of the client liabilities till most recoveries were made. Such instances may have convinced him to turn conservative about client funding compared with its rivals, who have used this route to turbo charge profits in the past. Employees said the firm has lost out on many high net worth clients, because of its reluctance to provide margin financing at cheap rates. After starting off with 30 branches in 2003-04, Sharekhan has 1,680 outlets servicing 9.4 lakh clients across 550 cities.
What is Human Resource? Human resource management (HRM, or simply HR) is the management process of an organization's workforce, or resources. It is responsible for the attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture and ensuring compliance with employment and labor laws. In circumstances where employees desire and are legally authorized to hold a collective bargaining agreement, HR will also serve as the company's primary liaison with the employees' representatives (usually a trades union). Overview In governing human resources, three major trends are typically considered: 1. Demographics: the characteristics of a population/workforce, for example, age, gender or social class. This type of trend may have an effect in relation to pension offerings, insurance packages etc. 2. Diversity: the variation within the population/workplace. Changes in society now mean that a larger proportion of organizations are made up of "baby-boomers" or older employees in comparison to thirty years ago. 3. Skills and qualifications: as industries move from manual to more managerial professions so does the need for more highly skilled graduates.
What are Human Resource policies? Human Resource Policies are established by an organization, to support administrative functions, performance management, employee relations and resource planning. These policies, when organized and spread in an easily used form, can serve to avoid many misunderstandings between employees and employers about their rights and obligations in the work place. Each company has a different culture and so develops an individual set of human resource policies. Creating a good set of HR policies requires a vast amount of preparation, time and effort. This process must involve others in the organization who clearly understands the organization's goals, mission, priorities and objectives. The policies must be effective and enforceable with approval from both management and employees.
Importance of Human Resource policies HR policies provide the outline by which employees are likely to behave in the workplace. These policies are written statements of the company's standards and objectives and include all areas of employment. They contain rules on how employees must perform their jobs and interact with each other. Managers, employees and the HR department all have roles in ensuring that HR policies are well implemented. Some factors which makes it important for all organizations are: Compliance: HR policies ensure that a company complies with important legislation, employment contracts and collective agreements. These policies reduce the risk of corporate liability or employee lawsuits. Policies address various areas that are critical to the company mission, thus ensuring operational efficiency. They clarify expectations of performance and behavior and help create the desired culture. On the other hand, HR policies protect employees from arbitrary and discriminatory actions by management. Employee Behavior: Policies contain common rule for behavior, which employees are usually asked to acknowledge in a written form. As policies may not cover all situations, they should provide management with the flexibility to make decisions based on individual situation. Organizations may have varying sets of policies for different groups of employees. Senior management has the authority to approve policies for implementation. Employee Responsibilities: Employees are responsible for following the established norms of behavior. HR policies often set standards for working hours, attendance, workplace conduct, and health and safety. Policies on respect, anti-harassment and nondiscrimination provide guidelines in resolving workplace conflicts and handling complaints. This promotes a positive work environment, enhances working relationships and improves productivity. Management Tools: HR policies serve as a resource for dealing with various situations that occur in the workplace. They encourage managers to treat employees fairly and consistently. Policies on hiring, termination, performance evaluation and disciplinary action provide managers with the framework to manage staff. For example, managers must follow the procedures for progressive discipline when dealing with performance or behavior problems. Dress Codes: Policies on dress codes are common in the HR world because, the way people dress can have a direct impact on how professional they appear and how successful they are at what they do. HR dress code policies have different standards depending on the company. Dress code policies for construction workers are different than dress code policies for people who work at a bank and Office environments typically require employees to wear business formal or business casual attire. HR dress code policies will list attire that is not suitable for the workplace. Work Environment: Policies also set the stage for the culture and work environment, there are set of rules, which all employees are expected to adhere, irrespective of the rank in the organization Policy for tackling Harassment: There are many different kinds of harassment from sexual innuendos to religious discrimination; however, all forms of harassment present an element of risk in the office, so businesses institute HR policies for maintaining a zero tolerance of harassment in the workplace. HR policies on harassment encourage employees to report incidents immediately, so the issues can be addressed and resolved timely by the HR department. Because harassment is considered a safety issue, HR policies on harassment will most likely contain language about the repercussions involved in being found guilty of harassing others at the office. Zero tolerance policies for harassment are put into place to protect employees and to maintain a safe and comfortable work environment. Developing the HR Policies The nature of the organization What they should expect from the organization What the organization expects of them. How policies and procedures work. What is acceptable and unacceptable behavior The consequences of unacceptable behavior The policies must be framed in a manner that the companies vision & the human resource helping the company to achieve it or work towards it are at all levels benefited and at the same time not deviated from their main objective.
Evolution of HRD in Sharekhan Creation of Role Model by Top Executives of the company. Sensitive to HRD Emphasis on Development of Employees Free culture across the company Concept of just Management Believe in Professionalism and Quality product. Believe in people.
HR Policies of Sharekhan 1. Training: Behavioral Training - for all level, Functional Training - for all level , Potential Related Training - for all level , Multi-Skill Training - workmen & Jr. staff , Training for Dealers 2. Performance Appraisal: Introduced in 1977 and Reviewed in 1979, 1981,1984, 1986 & 1991 3. Features of Present Appraisal System for Executives: Customer Orientation (Expectations of internal & external Customers, Review will be based on the job and off the job development requirement.) Emphasis on Potential development 4. Counseling & Feedback: Based on Carl Rogers Model of Person Centered Approach. Personal Improvement will be paramount importance. Appreciation of counseling approach in the development process. Developing an understanding of the core conditions / Philosophy of the counseling process. Exploring ones Style in counseling and its impact. 5. Communication & Interpersonal Relations: Communication has given top priority in Sharekhan. Improvement on Communication done through Meetings, Workshops, Brainstorming Session, Presentation, and Media - In house journals called Footsteps 6. Decision Making, Team work and Recognition: Persistent effort by Management to improve Team work. People are trained as Team leader and facilitator. Manifestation of Team work (Understanding the goals of employees, Contribution to new ideas, Maintaining Transparency, Average 70% of employees appreciate the work culture and treatment of the employees in Sharekhan.) 7. Employees feedback on Appraisal Systems: More than 60% employees are agreeing to have more Responsibilities. More than 70 % executives are agreed discrepancies between Appraiser and Appraise. Less than 40% of Workers and Sr. Staff and more than 60% of Jr. Staff are saying that superior are discussing with them about the rating and accept suggestions. Average 60% of workers, Jr. Staff & Sr. Staff are accepting the secrecy of Appraisal System
What Are the Benefits of HR Policies?
Recruitment and Employment Advertising for and hiring employees is a core HR function. Human resources policies that include what goes into the recruitment and selection process inform employees of the companys expectations and procedures. This is particularly useful if an employee wants to refer a job applicant to your company. Rehires and Promotions Human resources policies explain the companys stance on rehires and promotions. This includes the grounds for rehiring a terminated worker and the process for moving up in the company. Typically, employees who leave the company in good standing are eligible for rehire, and employees who have performed satisfactorily or above expectations receive promotions. These policies include what employees need to do to be considered in these instances. Compensation and Evaluations Human resources staffers use a combination of job analysis techniques and market surveys to determine the amount to compensate an employee while remaining competitive within the workforce. Further, the department establishes policies that address the evaluation and management of employee performance. While the policies do not state the amount employees receive, they do state that employees are compensated according to their skills, efforts and scope of responsibilities. This informs employees of the basis for compensation. Training and Development HR policies include provisions for training and professional development so employees know the resources that are available to them. These policies also help reassure new employees, as well as those who have been given added responsibilities, that assistance is available. Employee Issues HR policies inform employees about how to handle problems at work. Whether the issue involves coworkers, management or the work itself, employees want to know that they have someone they can share their concerns with in private. The policy outlines the chain of command in handling problems, such as the employee approaching her supervisor or manager first, or going directly to HR. Company Rules HR policy manuals outline internal policies and the companys code of ethics. This includes items such as dress code, professionalism, vacation time, personal and sick time, holidays, workplace safety, discrimination, and how to interact with co-workers and customers. Ethics is particularly important because it tends to vary from person to person. By outlining what constitutes good behavior in your company, employees know whats expected of them. Labor Law Application Labor laws are vast and complex. Human resources policies include posting a breakdown of laws so employees understand how the laws apply to them. Policies dealing with minimum wage, overtime, record-keeping, employee benefits and breaks clarify what employees are entitled to and how to do their part to ensure timely paychecks, such as submitting time cards to the payroll department on time. Grounds for Termination HR policies state the grounds for which an employee can be terminated. Explaining grounds for termination helps protect the company if from retribution if an employee was fired for violating policies clearly stated in the company manual. What are the disadvantages of HR policies? As more human resources departments employ electronic management systems, the potential for pitfalls increases. There are advantages to streamlining HR tasks through the use of information and management systems. However, when weighing the pros and cons of installing such software, inform your decision by first learning about some of the disadvantages of electronic HR automation. Privacy One of the chief disadvantages of HR management systems is the increased capacity for breaches in the privacy of your employees, management and business officials. In spite of federal and state laws providing legal protection for privacy in the workplace, if your HR management system is accessed by unauthorized individuals, your teams personal information may be up for grabs. Although your system may be safeguarded by password protection, this barrier is often no match for technically savvy people from inside and outside your companys walls. Fortifying your system internally and externally augments the safety of your data. Security On par with ruptures in privacy protection are fissures in the security system protecting your HR management software. Technical wizards abound who possess the talent and skills required to enter your management system and mine it for all the information your company holds dear, such as your business's HR strategy for future company growth. Additionally, electronic media is vulnerable to attack by viruses from anywhere on the Internet. Contracting a virus can disable your HR management system severely enough to render it unusable for an indeterminate time. Supplementary to purchasing a solid back-up application, a simultaneous decision should be made to invest in a virtually attack-proof program that protects your HR management data from encroachment. User Error Inherent in the use of HR management systems is the means for inaccuracy. Because computers and their associated programs are only as effective as their human users, data entry errors can and do occur. In HR management systems, such errors can have grave consequences. At best, minimal errors, such as a few misspelled employees names, may occur. At worst, errors in data entry could disrupt the workflow of your business. If, for example, your HR management system displays a number of incorrect dates designating when to carry out significant employee performance reviews with ensuing promotions, the adverse results may include a contagious drop in employee morale, which could affect levels of productivity. Employee Assessment HR management systems can be effective in selecting employees for certain positions or for advancement, based on performance scores and other information. However, the human factor is removed from these types of tasks by the system. For example, when analyzing employee talent, your system may reveal high scores in sales, new accounts or marketing efforts, but may not be capable of uncovering an employees habit of treating customers in disparaging ways. To realize the total evaluation of a staff member, an HR management system should have some way to prompt human input. Down Time Integrated with all computers and software are the inevitable issues that cause technical difficulties. HR management systems are equally susceptible to down time, with possibly dire consequences. These can include bringing a critical business activity to a halt if employee data is not accessible. For example, if your HR professionals have scheduled a day devoted to open enrollment for a new employee health plan, the inability to access your HR management systems data could not only delay enrollment in the health program but could feasibly push open enrollment out for weeks or months, leaving eligible staff members without coverage. Concerns such as this can be minimized by policies calling for ongoing focused technical system maintenance.
Methodology used Primary Research: Newspapers, Magazines, Interviews. Secondary Research: Internet, Online e-magazines, online research Conclusion HR Policies is one of the key documents that any business needs. This is based on the principle that people are the most important resources which help or affect achievement of business objectives and growth. The HR Policy manual provides direction to people about the conditions of their employment agreement with the company. A well-defined policy manual will always help the organization in setting expectations amongst its employees on what benefits the organization will provide and which benefits the employees should not expect from the organization. It also helps managers and supervisors make decisions about hiring, promotion and rewards. In addition, a fair, comprehensive human resource policy can curb litigation from disgruntled current or ex-employees.