Project Presentation: by Sunita Neomi M.B.A, 2 Year M.I.E.T

PROJECT
REPORT
PRESENTATION
By SUNITA NEOMI M.B.A, 2nd year
M.I.E.T
A project on
“RECRUITMENT AND SELECTION
PROJCESS AT
MAGMAFINCOP”
PREFACE
RECRUITMENT AND SELECTION PROCESS
AT MAGMAFINCOP
HR PROJECT
Research done in the Delhi Zone.
Gathered information from employee at

Magmafincop
COMPANY PROFILE

 Magma Fincorp Limited (formerly Magma Leasing Limited) was incorporated
in 1988 and commenced operations in 1989. To strengthen its business, the
company merged with Arm Group Enterprises in 1992. Magma has emerged
one of India's largest financial services companies during the past five years.

 In early 2007, to strengthen its services even more, Shrachi Infrastructure
Finance Ltd. (SIFL), a non-banking retail financing company, merged with
Magma to create a new financial services powerhouse: Magma Shrachi
Finance Ltd. On August 2008, Magma Fincorp renamed ourselves as Magma
Fincorp.

 Magma Fincorp are headquartered in Kolkata (India), and registered with the
Reserve Bank of India. Magma Fincorp are represented by a qualified team of
over 4200 Magmaites.

 In response to rapidly evolving demand, Magma Fincorp offer individual and
corporate customers a range of financial products and services in:
COMPANY PROFILE CONT..
Magma Fincorp not only provide a one-stop-shop financing facility to our
customers, but also fulfil the dreams of millions of first-time entrepreneurs,
catalysing local economies and helping the nation grow. Magma Fincorp are best
recognized for providing an equality of opportunity to the economically
disenfranchised.

Magma Fincorp have achieved a CAGR (compounded annual growth rate) of more
than 51% over the last three years.
Our rapid growth does not derive solely from our conscious initiative in growing our
physical infrastructure; it is also owing to careful investments in lasting
relationships with team members, alliance partners, customers and vendors.

VISION
To become India's largest retail financing company.
MISSION
Continue service excellence in retail financing to bring prosperity and happiness to all.
COMPANY WEBSITE
Research objective
The idea behind carrying out this research in Delhi city was:
 To understand & observe the practical work in HR Department of
Magmafincop
 To gain more practical knowledge about the “Recruitment and

Selection Process at Magma”
 To seeks out the difference between the theoretical & practical
work.
 To observe the functions of various departments
 To have a direct contact with the employees of Magmafincop
 To know the policies of Magmafincop, in respect of Recruitment
and Selection Process.
ABOUT RECRUITMENT
 Complies with government policies
 Provides job security
 Provides employee development opportunities
 Flexible to accommodate changes
 Ensures its employees long-term employment
opportunities
 Cost effective for the organization
ABOUT SELECTION
 This process divides the candidates into two categories-the suitable ones and the
unsuitable ones. The suitable people prove to be the asset for the organization. Selection
is a negative process because in this process the management tries to minimize the
number of people at each step so that the final decision can be in the light of all the
factors and at the end of it best candidate is selected. Selected candidate the has to pass
through the following stages-
 Preliminary Interview.
 Application Form.
 Selection Test.
 Selection Interview.
 Physical Examination.
 Reference Check.
 Final Approval.
 Employment.
RESEARCH METHODOLOGY
Type Of Research
 Descriptive Research: The major purpose of descriptive research is description of

the state of affairs as it exists at present.
Sampling
 Sample area- Delhi.
 Sample size- 100 Random employs.
 Sampling- Simple Random Sampling.
Collection Of Data
 Primary source
 Secondary source
Instrument used
 Questionnaire
 Interview
 Websites
 Pamphlets
 Magazines
Factors That Cause Recruitment Difficulties
Serial No Factors No of Respondents Percentage
1 Lack of applicants 8 8
2 Lack of applications with 20 20

required work experience
3 Lack of applicants with required 55 55

skills
4 Other Employers offering 10 10

higher wages
5 Job pays low salary 7 7
Total 100 100
Total No Of Respondents
Lack of applicants
Lack of applications with

required work experience
Lack of applicants with
required skills
Other Employers offering
higher wages
Job pays low salary
DOES THE RECRUITMENT AND SELECTION PROCEDURE AFFECTS
THE PERFORMANCE OF THE EMPLOYEES?
90%
90%
80%
70%
60%
Percentage of Employees
50% Yes
40% No
30% 10%
20%
10%
0%
Magma
Company name
Yes, it does because if in appropriate candidates are selected it would lead to

loss of productivity, labor turnover.

90 out of 100 employees said that recruitment and selection procedure affects
the performance of the employees while 10 out of 100 employees said that it
does not.
IS THE RECRUITMENT AND SELECTION PROCEDURE FOLLOWED BY
THE COMPANY APPROPRIATE?
75%
80%
70%
60%
50%
40% 25% Yes
30% No
20%
10%
0%
Magma
Company name
DOES YOUR COMPANY DISCLOSE THE JOB SATISFACTION AT THE
TIME OF SELECTION OF A CANDIDATE ??
65%
70%
60%
50% 35%
40% Yes
30% No
20%
10%
0%
Magma
Company name
MANPOWER IS LINKED OF VISION OF THE COMPANY
80%
80%
70%
60%
50% Yes
40% No
20%
30%
20%
10%
0%
Magma
MEDICAL TEST IS DONE AT THE TIME IN MAGMA FINCORP
80%
80%
70%
60%
50% Yes
40% No
20%
30%
20%
10%
0%
Magma
LIMITATIONS
FINDING
 90% employees said that recruitment and selection procedure affects the performance of the
employees while 10% employees said that it does not.
 100% employees said Magma Fincorp recruit employees internally.
 75% employees believe that the recruitment and selection procedure followed by the company is
appropriate while 25% employees believe its inappropriate.
 65% employees say that the economy discloses the job specifications at the time of selection of a
candidate while 35% employees said the company doesn’t disclose job specifications at the time
of selection.
 100% employees said that the company ask for references at the time of selection.
 70% employees say that the written test contribute the main factor of recruitment but 30%
employees say that written test not take a main part of recruitment.
 70% employees say that company follows direct interview method, and 30% says company follow
RECOMMANDATION
 The research in Magma Fincorp has helped me in broadening my view. It has helped me to
know that HR is the heart of every organization. It made me aware about how policies play
an important role in the smooth functioning of any organization. But I have found that there
is something that lacks in the company and which is possible to overcome.

 Magma Fincorp is engaged in making maximum sales, providing satisfaction to its
customers, as well as maintaining good relations with the corporate world. But it has not
thought about marinating a health relation with its employees. This is the reason that there
was an increase in the labor turnover. Also, it has never given consideration to find the
reason lying behind the same.

 Employee retention is crucial to the long-term success of your business and therefore the
ability to retain employees is a primary measure of the health of your organization. Of
significant concern is the fact that unplanned employee turnover directly impacts the bottom
line of a business.
Bibliography
Data has been collected from various

sources:
 www.fincorp.com
 Pamphlets
 Magazines
QUESTIONNAIE
 MAGMA FINCORP go for a campus recruitment for fresher’s?
 Yes [ ] No [ ]
 Does your company recruitment for the other state?
 Yes [ ] No [ ]
 Are you satisfied with the question and which are asked from the candidates at the time of interview?
 Agree [ ] Partially agree [ ] disagree [ ]
 Manpower is based on previous production data?
 Yes [ ] No [ ]

 Manpower is linked of vision of the company?
 Yes [ ] No [ ]
 Medical test is done at the time in MAGMA FINCORP ?
 Yes [ ] No [ ]
 Interview conducted by MAGMA FINCORP is free from bias?
 Yes [ ] No [ ]
 MAGMA FINCORP check all information which is given by the applicant before selection?
 Yes [ ] No [ ]
 MAGMA FINCORP conduct the physical examination before selection?
 Yes [ ] No [ ]
QUESTIONNAIE
 You are satisfied with recruitment process in MAGMA FINCORP ?
 Yes [ ] No [ ]
 MAGMA FINCORP also recruitment the people for future needs?
 Yes [ ] No [ ]
 Favoritism is done MAGMA FINCORP at the time of recruitment process?
 Yes [ ] No [ ]
 Does the recruitment and selection procedure affects the performance of the employees?
 Yes [ ] No [ ]
 Does the company recruit employees internally?
 Yes [ ] No [ ]
 Is the recruitment and selection procedure followed by the company appropriate?
 Yes [ ] No [ ]
 Does your company disclose the job specifications at the time of selection of a candidate?
 Yes [ ] No [ ]
 Does your company ask for references at the time of selection?
 Yes [ ] No [ ]
 What percent of the selection procedure does the written test contribute?
 Yes [ ] No [ ]
 Which type of interview methods does your company usually follow?
 Direct [ ] GD [ ] Other [ ]
THANK
YOU..

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PROJECT

Research done in the Delhi Zone.

Gathered information from employee at

 To gain more practical knowledge about the “Recruitment and

 Descriptive Research: The major purpose of descriptive research is description of

2 Lack of applications with 20 20

3 Lack of applicants with required 55 55

4 Other Employers offering 10 10

5 Job pays low salary 7 7

Total 100 100

Lack of applications with

Yes, it does because if in appropriate candidates are selected it would lead to

employees while 10% employees said that it does not.

 100% employees said Magma Fincorp recruit employees internally.

appropriate while 25% employees believe its inappropriate.

ability to retain employees is a primary measure of the health of your organization. Of

Data has been collected from various

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