SUMMER TRAINING REPORT ON RECRUITMENT AND SELECTION PROCESS

IN FORTIS ESCORTS HOSPITAL Report Submitted to MD University Rohtak in the partial fulfillment of requirements for the Degree of Bachelor of Business istration

Session : 2012-2013 UNDER THE GUIDENCE OF:-

Submitedby:-

Mrs. Jyoti Malhotra

Sudhir Rawat Roll No. 383

BBA 5th SEM

D. A. V. CENTENARY COLLEGE NH-3, FARIDABAD

DECLARATION

I, Sudhir Rawat, Class Bachelor of Business istration of D.A.V. CENTENARY COLLEGE, Faridabad hereby declare that the project entitled “RECRUITMENT AND SELECTION” is an original work and the same has not been submitted to any other institute for the award of any other degree.

[SUDHIR RAWAT]

ACKNOWLEDGEMENT

My Training Program in Fortis Hospital has been a quantum leap in of familiarization of management concepts, hands on experience, acclimatization to the corporate culture, sincerity, diligence, responsibility and above all self confidence. I would like to express my sincere gratitude to MS. Brij Bhusan (HOD of the Department) for giving me an opportunity to do my training program at Fortis Escorts Hospital and Research Center. I consider myself fortunate to have a company guide like (Project Manager) and thank her for guiding and encouraging me throughout my project work. She not only guided me throughout the course of my project but was also a source of inspiration to me. Her continuous and able guidance helped me in complementing this project well in time. I am very thankful to Flt. Lt Saras Malik for her valuable guidance, encouragement and suggestions helped me immensely in the successful completion of my project. I would also like to thankful to my faculty. She is always ready to help me regarding my project report and my training and extended there and guidance from time to time. Finally I would like to thank my entire fellow at Fortis, for there valuable inputs, cooperation and their valuable inputs, cooperation and their continuous .

Sudhir Rawat BBA 5th SEM

TABLE OF CONTENTS SR. NO.

CONTENTS

1

INTRODUCTION

2

THE COMPANY PROFILE

3

REVIEW OF LITERATURE

4

RESEARCH METHODOLOGY  OBJECTIVE  SCOPE  RESERCH DESIGN  SAMPLE SIZE  METHOD OF DATA COLLECTION  LIMITATION

5

DATA ANNALYSIS AND INTERPRETATION

6

CONCLUSIONS AND RECOMMENDATION

7

BIBLIOGRAPHY

8

APPENDICES

PREFACE

The 21st Century definitely belongs to human resource not with standing the fact that human resource outsourcing has become the order of the day. Workers and employees are the main foundation of the organization and firms and play a significant and crucial role in success of any company. For the best functioning of human resource in an organization a Human Resource Department is must. In Human Resource Management the recruitment and selection, training & development, placement and all type of acquisition areas are covering all aspects, which help in acquiring fresh employees and train them for the betterment of the organization by different and ample methods. By these processes and procedures every organization can get the best from the employees in the competitive world. The role of Human Resource Management in the organization is at centre stage. Human Resource Management is important for all types of organizations. It is a sole of an organization and firms because in an industry every process which is related to the workers and employees, all work is headed by the HR Manager in the Personnel Department whether it is Recruitment and selection, training & development, performance appraisal or others as manpower planning. Every step in these topics is taken by the HR Department.

[SUDHIR RAWAT]

INTRODUCTION

INTRODUCTION OF FORTIS ESCORTS HOSPITAL

Fortis Healthcare Limited was incorporated in 1996 to develop a world class system of integrated healthcare delivery in India, comprising of super-specialty areas along with multi-specialty care at the tertiary level, as well as the secondary hospitals. Fortis believes it will be best positioned to penetrate the market in various cities, increase the brand recall and capture a larger share of the health care market. “Team Fortis” is committed to meet all healthcare needs of its clientele, starting from maintenance of good health to providing global standards in Diagnostics. Fortis Healthcare Limited has a VISION of "Globally respected Healthcare Organization known for clinical excellence and distinctive patient care". From the pursuit of this MISSION emanates a ion to excel. At Fortis Healthcare we have assembled the finest talents in medicine, be they doctors, nurses or technicians, and even management professionals across a wide spectrum. Enabling them to deliver the highest quality of healthcare are state-of-the art facilities and infrastructure at each of our hospitals. Fortis Healthcare Limited is one of the leading chains of Hospitals in India which are benchmarked to International standards - achieving quality through the relentless adherence to the protocols observed in some of the world's leading hospitals. The hallmark of Fortis hospitals, distinguishing them from their contemporaries, is the 'patientcentricity' that you will discern all over: in hospital design, services, and programmers and most significantly in the caring approach of our people. The Fortis Healthcare circle of caring is fast expanding, spreading the name of Fortis Healthcare, India... reaching out to distant communities, welcoming patients from beyond India's shore.

OUR LOGO:

Every entity, human or corporate, has a hallmark, a signature that identifies it. The Fortis logo defines very PERSONA. The two hands that fuse seamlessly with a human form, express our reassuring approach to health care. A constant reminder to all, that Patient-Centric care is fundamental to our ethos. Green is the color of healing and is symbolic of our stead fast focus: to ensure the health and wellbeing of those we minister to. Red is expressive of the dynamic zeal with which we strive to make it a reality. The Fortis Logo is the indelible assurance that our expertise will always be tempered with humanity. We never forget that the well being of human lives is our raison d’être. Fortis Ethos: All managerial or executive’s positions should exercise a reasonable degree of comion: other wise, decisions involving subordinates could be faulted.

VIRTUOUS Values: V – Vision. I – Integrity. R – Respect. T – Trust. U – Understanding. O – Own U – Uphold.

Fortis is an international provider of banking and insurance services to personal, business and institutional customers. We deliver a total package of financial products and services through our own high-performance channels and via intermediaries and other partners.

Fortis has a presence in over 50 countries and a dedicated, professional workforce of more than 65,000. Chairman and CEO Chairman – Malvinder Mohan Singh MD- Mr. Shivinder Mohan Singh CEO – Mr. Bhavdeep Singh

Escorts Hospital & Research Center Ltd. Faridabad, was started in 1982, as a small dispensary to cater to the medical needs of the employees of escorts plants and their families. Businesses Fortis is a leader in financial services in the Benelux region – one of Europe’s wealthiest. Building on that leadership, we have developed an extensive European footprint in the retail banking market, operating through a variety of distribution channels. We offer financial services to companies, institutional clients and high net worth individuals and provide integrated solutions to the enterprise and the entrepreneur. Our unique expertise has made us a regional and in some cases global leader in niche markets, such as energy, commodities and transportation, and fund istration.

Stock exchange listings Fortis has a primary listing on both Euro next Amsterdam (code FOR A) and Euro next Brussels (code FORB) and a secondary listing in Luxembourg. In the United

States, Fortis has a sponsored over-the-counter ADR programme. Fortis shares outstanding, carrying voting rights and entitled to dividend, amounted to 2,351,559,674 on1 September 2008. Fortis has a primary listing on both Euro next Amsterdam (code FOR A) and Euro next Brussels (code FORB) and a secondary listing in Luxembourg. In the United States, Fortis has a sponsored over-the-counter ADR programme. Fortis shares outstanding, carrying voting rights and entitled to dividend, amounted to 2,351,559,674 on1 September 2008. Fortis shares are included in the Dow Jones Sustainability STOXX Index, the Dow Jones Sustainability World Index and the FTSE4Good, as well as in many other prominent indexes.

Our strategy • Strengthen our competitive position by focusing on the customer and optimizing cross-selling • Roll out our core competences built in Benelux to new markets • Enhance our functions to increase efficiency and facilitate controlled growth • Accelerate growth through smart add-on acquisitions • Concentrate on Europe while pursuing selective growth in Asia and North America

Global rankings Worldwide ranking Total assets

19th

Revenues

14th

Profit

88th

Shareholders’ equity

55th

Number of employees

268th

Long term credit rating Fortis SA/NV and Fortis N.V. Moody’s

A1

Standard & Poor’s

A

Fitch Ratings

AA-

Our vision In an increasingly complex, yet ever more convergent world, innovation, speed and

agility will be as crucial as scale, track record and reach. We will stand out as a professional international financial services brand, recognized for our ability to deliver superior and sustainable stakeholder value by constantly anticipating and suring the needs of customers, investors, employees, partners and communities wherever we do business.

Our mission Fortis provides compelling customer solutions creatively. One of Europe’s most dynamic and sustainable financial services brands; we deliver specialized, innovative and pragmatic customer solutions across a network of channels and by leveraging our operational and entrepreneurial expertise.

Our financial targets for 2004-2011 At Fortis, we believe that we have only scratched the surface in of the real potential of our company – and it is for this reason that we are confident about raising our long-term financial targets for the period 2004–11.  Compound annual growth rate (CAGR) of net profit per share of at least 15%; this leads to a commitment to achieve 12% CAGR (2006-11) based on the 2006 cycle-neutral profit base of EUR 3.8 billion

 Risk-Adjusted Return On Risk-Adjusted Capital of 18.5%

 Return on equity of 18.5%

 Operating leverage of at least 250 basis points

 30% of net profit to come from outside Benelux by 2009

 Cash dividend at least stable or growing in line with long-term earnings per share (EPS) growth

STRATEGY Our strategy centers on three key levers for sustaining growth: reinforce our competitive position in established markets, invest in selected core competences and continue to pursue external growth. First of all, we want to leverage our core competences. Our focus on the customer should result in greater cross-selling and enhanced efficiency will reinforce our cost discipline. To achieve these goals, we need to understand who our customers are, why they do business with us, and how we can anticipate their needs. We have already made great strides in this area, as underscored by the awards we received

in 2007. Buoyant commercial activity, too, has helped us to sustain momentum in our core markets, indicating that there are still plenty of opportunities to achieve profitable growth in our attractive and wealthy Benelux home market. At the same time, we will invest even more in front-office staff, customer-related tools and product innovation. Furthermore, we will optimize Fortis-wide assets and risk management, ensure strict cost control and pursue rigid performance and capital management. Secondly, we will invest in growth engines – i.e. selected core competences – to enter new markets, launch new business activities and unlock new value chains. These core competences are based on a combination of customer segment and business proposition in which Fortis is a recognized expert and/or market leader. Examples are consumer finance and postal banking in Retail Banking; Asset Management; Energy, Commodities & Transportation in Merchant Banking; and the rolling out of our banc assurance model in Insurance. The opportunities we have identified worldwide will act as growth engines, bringing the core skills and expertise we have developed in the Benelux countries – all of which have a proven track record – to new customer segments and new markets. This is essentially how we plan to propel Fortis to the next stage of development. Thirdly, we will continue to pursue external growth by making smart add-on acquisitions within strict investment criteria. Examples are O’Connor & Co., Dryden Wealth Management, Dominate, Cinergy Marketing & Trading and Pacific Century Insurance. The most recent acquisition of selected activities of ABN AMRO can be described as truly transformational. The move will allow us to accelerate the growth strategy we launched in 2005, underlining our position as one of Europe’s most dynamic and sustainable financial services providers.

This historic acquisition sets the stage for an exciting future for Fortis. We can look forward to solid long-term growth prospects in a number of selected businesses. The deal will bolster our Benelux core competences and it will give us the opportunity to leverage our capabilities in banc assurance. The transaction will also fuel international wealth management as a growth engine, operating within a single integrated network with a large European footprint and a strong Asian growth platform. What’s more, the acquisition will transform us into a leading asset manager. Based on how both companies have performed in the past, this business’s combined product range achieves scale in core growth products.

The compelling strategic logic of the acquisition became even more evident during the recent global credit crisis. These activities bring us additional distribution power, increase our retail funding capacity and – most importantly – give us a large and highly predictable earnings stream from our Benelux home market, thereby lowering our risk profile. In other words, the transaction allows us to accelerate our growth strategy, to stay true to our mission and to remain one of Europe’s most dynamic and sustainable financial services brands.

Finally, our geographic priorities remain unchanged. We want to continue to grow in our Benelux markets, to focus on Europe, and to grow selectively in North America and Asia.

STRONG BRAND Personal customers, entrepreneurs, institutional clients and companies all have dreams and ambitions. They all want to prosper in life and/or business. Prosperity is about realising dreams,

ideas and plans. These are different for everyone. To realise dreams and ambitions, it takes some thought, some planning and some encouragement. Any journey does. But it is absolutely worth it, knowing that you are heading for a place you have always dreamed of, that you are on your way. Our ambition is to get you there. To be your financial partner, by your side, travelling with you on the same course. A partner who multiplies your prosperity. Prosperity is about building, managing and protecting your financial assets, so you need a banker and insurer who is forceful with a heart. That is our way to growing profitably and to becoming a leading European financial institution.

The Fortis brand strategy is derived from our business strategy and has been formulated within the context of our brand history. It is aimed at creating one monolithic brand, one strong Fortis brand that represents all our activities.

Importance of a brand A brand exists in our minds. It is a network of associations that can vary widely from brand to brand. Everyone makes his or her own associations. The goal of managing a brand is to create more or less comparable networks of meaning from the individual associations of each person. A brand is especially important when strategy and output depend highly on goodwill, which is often the case in the (financial) services industry, because:



products cannot be judged at face value (intangible)



product quality is largely determined by people



customers only buy financial services when they are convinced that the provider is credible

Brand history Although our group formally came into being in December 1990, it was not named until 13 July 1991. Fortis is a Latin word meaning strong and determined. he name is intended to reflect not only the group’s stability, strength and flexibility, but also its experience and integrity. The name appears in the new logo.

COMPANY PROFILE

Fortis Escorts Hospital is a name to with when it comes to healthcare. It is a known institution along the length and breadth

of the country with a cutting edge, multidisciplinary capabilities & state of

the art facilities. We aim to deliver medical care with the best of healthcare practices all over India with competence and comion. The institution has today grown into a 246 bedded, super - Specialty hospital providing primary to tertiary medical care in all departments of medicine. With a breathtakingly modern and superbly functional ambience along with technically superior & high quality competent Medicare, it epitomizes the future of medicine. The services of this leading health care facility are sought by more than 100,000 patients every year.

Clinical excellence has been Fortis Hospital’s ion and forte all along, moreover we have always pursued what is best for the patient. We have been able to attract world class doctors who share this vision, helping us set up new benchmarks in clinical care.

Healthcare organizations around the world want to create environment that focus on quality, safety and continuous improvement, and our endeavor is to provide unmatched quality and safety throughout the stay in the hospital. Our clinical and istrative teams have set very high standards in various areas to upgrade our processes of clinical care and service delivery.

We are also first in the country to hold stringent ISO 9001-2000 status, and the first hospital in Haryana to run comprehensive cardiac care program. It is also the first hospital in Haryana to run DNB Program of post graduate medical education in various special

Moreover we are also approved for institutions like ECHS , CGHS , Public sector companies and Insurance companies along with various government and private corporate. With a vision to provide quality healthcare and excellence, we strive to deliver the best of healthcare which is second to none………….. Fortis Hospital Faridabad offers some key super specialties like:1. Cardiac Sciences 2. Critical Care 3. Neuro Sciences 4. Orthopedics 5. Renal Sciences 6. Trauma & Emergency 7. Gastroenterology Other Specialties:- Anaesthesiology,Cosmetic & Plastic Surgery, Critical Care, Dentistry, Dermatology, Dietetics, Endocrinology, ENT, GI Surgery, Medicine, Minimal Access Surgery, Nephrology, Neurology, Obstetrics & Gynecology, Oncology, Ophthalmology, Pediatrics’, Pain Clinic, Physiotherapy, Psychiatry & Psychology, Pulmonology

Facilities Inauguration of 8-8 OPD Availability of 24 x 7 Cardiologists 24 hrs. Ambulance 24 hrs. Ambulance service is always on call.

OT The hospital has ultra modern operation theatres to the needs of the patients. The laminar air conditioning system in the theatre enhances filtration levels, thereby increasing sterility. The wide range of OT equipments includes Carm, Laparoscopy, Anesthesia, Ventilators, Data scope etc.

Imaging and diagnostics Sophisticated technology is vital to the delivery of quality healthcare, and we at Fortis offer the latest diagnostic services. Routine x-ray and other special radiological investigations are performed on two 800mA image intensifiers.

Three ultrasound machines are available for round the clock abdominal, obstetrics, peripheral and small – parts ultrasound including colour and power Doppler. Facilities for interventional ultrasound and bedside x-ray/ ultrasound are also available.

Laboratory and Blood Bank The clinical laboratory at the hospital provides a complete range of investigations including hematology, biochemistry, immunology, histopathology, bacteriology, cytopathology, etc under strict quality control checks. Automation is the motto.

Hospital commenced operations as a diagnostic centre in 1982 and became a 246-bed multispecialty facility in 2003. We have various categories of beds:-

Private Rooms. Semi Private Rooms. General Wards. ICU. Emergency.

PREVENTED KEY FACILITY At Fortis Escorts hospital we believe in holistic care , starting from prevention to cure . We have very well designed comprehensive and preventive health packages for executives as well as for general population, including an array of blood tests, X rays, ultrasound , TMT , ECG, Pulmonary function test , Eye and Dental check up.. An extensive computer network which enables doctors to access the latest medical information from anywhere in the world for preventive and therapeutic advice and life style changes. We have several preventive health check programs like: Primary Health Check up

Special Health Check up

Executive Health Check up

Cardiac Health Check

Cancer Screening

Well women check up

Important Guidelines

1. Please report at the OPD Reception (Ground Floor) by 9.00 a.m. 2. You should have fasted overnight (12 hours). Avoid alcohol and non-vegetarian food at dinner the previous night. 3. At the time of reporting, please let us know if you are a diabetic, cardiac patient or suffer from any other ailments. 4. Please carry all your prescriptions and reports if under any treatment. Also carry your spectacles. 5. Refreshment will be provided at the hospital during the package. 6. Please wear comfortable clothes and footwear as you would be required to change into hospital clothes frequently.

REVIEW OF LITERATURE

INTRODUCTION

Fortis Healthcare Limited is one of the leading chains of Hospitals in India which are benchmarked to International standards - achieving quality through the relentless adherence to the protocols observed in some of the world's leading hospitals.

 Objective of the Study:- The objective in behind of this project is get to know that how a big organization being established and calculate the attrition rate.  Scope of the Study:- The scope in behind of this project is, In healthcare Industry; how we signify the department and categorized the attrition and differentiate the rate.  Introduction of Fortis Escorts Hospital: - Every entity, human or corporate, has a hallmark, a signature that identifies it. The Fortis logo defines very PERSONA that is “Handel with Care”

 Hospital Profile: - Hospital profile is depend upon the Number of bedded, Which super specialties did that hospital has provide, Accreditation of the hospital.

 Methodology: -

Methodology signifies that what methods we have used in our

Research.

 Data Analysis: - Analysis of data signifies that which method we have used in our research is appropriate or not. That the data is come out by our project is totally up to mark or not.

 Recommendation: - It means that while preparing or at collecting time what loose points we have found that we were recommend for the further processing.

 Conclusion:

 Safety Policy

- It is the final step which shows the final result of the report.

 The safety of all patients is the primary responsibility of all Fortis employees.  The safety of facility, assets & the environment is important to ensure the provision of quality services.  Highest levels of comfort should be maintained by ensuring occupational safety so that effective & efficient healthcare practices are followed.

SAFETY CODES USED A Code Blue

:

Individual Disaster

Code Grey

:

Internal Disaster

Code Red

:

External Disaster

Code Pink

:

Infant Abduction

Code Purple

:

Likelihood of physical altercation

 Quality Policy We Pledge to set & practice world class healthcare through an effective Quality Management System to ensure that our patients experience ‘TOTAL HEALTH CARE’.

 Fire Safety Plan Main purpose of fire safety plan is to establish method of systematic, safe and orderly evacuation of the hospital building of its occupants in case of fire or other emergency.

R

RESCUE

A

ALARM

C

CONFINE

E

EVACUATE

STANDARD POLICIES

Fortis has the following important policies:  Grievance Policy.  Sexual Harassment Policy.  Leave Policy.  Disciplinary Policy.  Business Travel Policy.  Pre-employment Health Check-Up.  Training and Development Policy.  Credentialing and Privileging Policy.

 Performance Management Policy.  Local Conveyance Policy.

MEDICAL WASTE MANAGEMENT

SI.

Bag color

Waste

Disposal/ Treatment

NO. 1

Area of collection

Yellow

Human Tissues/

Incineration

All

Incineration shred

All

blood & body fluids

2

Red

Plastics/ lV Tubings

3

Black

General waste

Direct Disposal

All

4

Blue

Unbroken

Autoclave/ shredding/ Recycle

All

Glassware/ Vials

RESEARCH METHODOLOGY

INTRODUCTION

Research methodology is a tool that helps in investigation or inquiry to gain new knowledge. The research process or the steps undertaken is as follows. The project titled procedures & documentation of Human Resource consultancy. Is clearly defined & based on systematic research design to meet the objectives of the study. The logical analysis of various aspects of the data is made to arrive at the results of the study. Research is an active, diligent and systematic process of inquiry in order to discover interpret or revise facts, events behaviors, or theories or to make practical application with the help of such

facts, laws or theories. The term “research” is also used to describe the collection of information about a particular subject. A research design is a specification of methods and procedures for acquiring the information needed. It is overall operation pattern and the framework of the project that stipulates what information is to be collected from which source and by what procedure. The research design undertaken for the study was an exploratory one. The reason for using an exploratory research method was to obtain qualitative data and also since the nature of study is as such that it required the exploration of various aspects within and outside the company.

The research process includes the following steps: 

Defining the problem.



Statement of research objectives.



Planning the research design.



Planning the sample.



Collection of data.



Analyzing the data.



Formulation of conclusion.



Preparation of the report.

TYPES OF RESEARCH

Exploratory Research 

Descriptive Research

Types of Research

Exploratory Research

Exploratory Research

Descriptive Research

It is done to generate new ideas; respondents should be given sufficient freedom to express themselves. It is generally based on secondary data that are readily available. Therefore unable to frame detailed research questions.

Descriptive research

It is undertaken when researcher is interested in knowledge the characteristics of certain groups such as age; sex; educational level; occupation or income; interested in knowledge the proportion of it in a given population who have behaved in a particular manner; making the projections of a certain things; or determining the relationship between two or more variables, descriptive study may be necessary.

DATA COLLECTION METHOD:

Data collection methods can be classified into two methods: 1

Primary methods

2

Secondary methods DATA COLLECTION METHOD

Primary Methods

Data collection

Secondary Methods



Primary data collected through questionnaires.



Secondary method

PRIMARY METHODS

Data directly colleted by a researcher is known as Primary Data.

The methods used for collecting primary data may be: 1

Survey.

2

Observation.

Sources of primary data



Interview methods 

Depth interviews



Mail interviews



Telephone interviews



Delphi technique.



Projective technique



Focus group interviews



Questionnaire 

Structured



Unstructured



Semi-unstructured

SECONDARY METHODS:-

Data not originally collected for use in the research project under consideration, but rather for use by some other person or for some other project are termed

Secondary Data 1

Internal Sources

2

External Sources

Sources of secondary data

Internal Sources

External Sources

Sales records Credit records Internal records Published

Commercial

Directories

Demographic

Periodicals

data

Financial records

Store audit

Statistical records

Diary

Advertising

Explosive

RESEARCH DESIGN: -

It is a type of blueprint prepared developing on various types of blueprints available for the collection, measurement & analysis of data. The design of a research study is based on the purpose of the study.

Types of research design 

Qualitative Research Design.

Quantitative Research Design.

RESEARCH METHODOLOGY ADOPTED Research design- Quantitative and Qualitative Sampling plan1

Sample method- Probability Sampling

2

Sample size- 50

Sampling design- Cluster and Area Sampling

Sources of data: Data collected by me is 60% secondary and 40% primary.

The research methodology used was exploratory research with the help of survey method.

Primary data collected by personally visiting different people from different walks of life and gathering information about the leading insurance players for example LIC, Max New York Life Insurance, Bajaj Allianz, Birla Sun life and HDFC SLIC 

Gathering information by visiting branches offices of different companies.



Recruiting agents: by making phone calls to people of different profile and giving business opportunity to various insurance companies as advisor/agent.

The Research Methodology is Exploratory Research Methodology and various steps adopted while working on the project: Understanding the organizational structure of Fortis Escorts Hospital through various primary sources.  Understanding the various HR policies of the company such as Recruitment, Manpower Planning, Training and Development policy etc.  Collection of manpower data from all the departments in Fortis.  Preparing graphs on the basis of collected data to make the study more comprehensible.

Objective of Study

 To understand the recruitment and selection process of FORTIS EXCORTS HOSPITAL

 To find the various Sources and Techniques of recruitment and selection process at FORTIS ESCORTS HOSPITAL.

To focus on importance of recruitment and selection process how it helps to achieve organizational objectives

SCOPE OF THE STUDY

The cost of Attrition It is clear that there are massive costs associated with attrition or turnover and, while some of these are not visible to the management reporting or budget system, they are nonetheless real. The ‘Rule Of Thumb’ appears to be very inaccurate indeed and, while it depends upon the category of staff, it is probably better to estimate around 80% of salary as a true rule of thumb – and this will be on the conservative side.

It means that if a company has 100 people doing a certain job paid 25,000 and that turn over or attrition is running at 10%, the cost of attrition is: (Total staff x attrition rate %) x (Annual salary x 80%) 

100 staff at 10% attrition means 10 people leave and are replaced each year.



A replacement cost of 80% of a salary of 25,000 means the cost of each replacement is 20,000



The cost of turnover is therefore 10 x 20,000 or 2,00,000 a year.



The on cost to the overall salary bill is 8%.

The impact of employee attrition on company performance is often understand by organizations and by the time they realize its true impact the disaster is already done. The cost of turnover can be calculated using some basic organizational parameters.

Determining the cost of attrition is the first step in the processing of developing the management plan to deal with the problem.

There are four major components to consider when getting your arms around the costs associated with attrition: 1. 2. 3. 4.

HR istration, Rehiring, Training, and Loss of productivity.

HR ISTRATION  Exit interview for departing employee.

TRAINING  Orientation materials

 Set up of new employee in HR or payroll system.  Establishing computer and security

 Position-specific materials.  Wages of new employee while in training.

s for new employee.  Wages of instructor(s)  Identification cards  Telephone hookup.  Establishing e-mail .  Leasing of other equipment.

REHIRING

LOSS OF PRODUCTIVITY

 ments.

 Zero productivity while a seat is empty.

 Internet postings.  Zero production while the new employee is

 Internal recruiter’s time to source and screen

in training.

candidates.  Hiring manager’s time to interview

 Diminished production while a new

candidates.

employee moves up the learning curve.

 Placement agency fees.  Drug screening and background checks.  Skills assessment.

ATTRITION IN FORTIS As it clear from the following graph the attrition rate is showing an increasing trend for the four consecutive years. Though the attrition rate during the financial years 2009-10 and 2010-11 can be considered very normal and healthy, but a sudden jump from 8.10% to 13.08% is alarming.

Attrition for the year 2009-10 has been analyzed on the basis of following parameters:

Analysis of attrition rate Level Wise and Year Wise.

LEVEL

2006-07

2007-08

2008-09

2009-10

ASUP to DVM

3.7%

9.5%

8.1%

13.1%

GET to DVM

5.0%

11.2%

10.7%

15.8%

L11 to DVM

4.8%

11.8%

10.5%

16.0%

13.5%

11.2%

17.0%

5.6%

12.5%

12.5%

L11 to MGR GET

5.20% 10.5%

Chart Title 2006-07

2007-08

GET

L11 to MGR

L11 to DVM

GET to DVM

ASUP to DVM

5.60%

2008-09

2009-10 12.50% 12.50% 10.50% 11.20%

5.20%

4.80%

5.00%

3.70%

17.00% 13.50%

10.50% 11.80% 10.70% 11.20% 8.10% 9.50%

16.00%

15.80%

13.10%

Although attrition is concern for any industry but for any employer like Fortis Escort Hospital and Research Center Ltd. it becomes a major concern not because of the reason that it cannot attract more employees but because of the value it had added to its employees and vise versa. FORTIS spends huge amount of resources on the training and development of their employees.

Observation: There has been an increase of 4.98% in the attrition rate of worker to DVM in2007-08 as compared to the previous year. It is 13.08%for 2007-08

 There has been an increase of 5.09% in the attrition rate of GET to DVM in 2007-08 as compared to the previous year. It is 15.79% for 2007-08.

 There has been an increase of 5.5% in the attrition rate of L-11 to DVM in

2007-08as

compared to the previous year. It is 16% for 2007-08.

 There has been an increase of 5.8% in the attrition rate of L11 to MGR in compared to the previous year. It is 17% for 2007-08.

2007-08 as

 There has been no change in the attrition rate of GET is 2007-08 as compared to the previous year. It is 12.50% for 2007-08 as well as for the previous year.

COMPANY SPECIFIC REASONS FOR EXITS AT FORTIS

To find out company specific reasons for exit and resignation in FORTIS, exit interview forms have been analyzed extensively. There were some company specific reasons for dissatisfaction among exiting employees. They can be divided into various sub heads like: Job Content  Career Growth  Compensation and Benefits  Performance Management System

 Work Culture

 Personal Reasons  Communication

 Policies and System Human resource utilization not commensurate with respective experience and qualification (e.g.:- Employees with an engineering degree and MBA+ Engineering degree are doing the same work). Low emphasis on innovation and creative work. Employees have excess job responsibilities due to dearth of people. Repetitive work is given to employees. Lack of Job empowerment and delegation.

Healthcare

Fortis Healthcare is engaged in providing the latest in internationally recognized medical care to patients with a variety of ailments and medical conditions. Our Network consists of Super Specialty Hospital Hubs that concentrate on one or more specialties. These hospitals are interconnected to a larger network of multi-specialty hospitals that ensures patient access to expert care for any specialty. This unique network architecture provides expert care to our patients and a level of confidence in receiving the latest medicine has to offer.

Research In our efforts to provide quality medical and comionate care we, at Fortis Healthcare, understand that medical research is as much a part of the process of curing. Symbiotically linked to Ranbaxy - India's largest pharmaceutical company - we are interested in the field of medical research. Fortis Healthcare is committed to encouraging and conducting medical research with societal rewards and benefits. If you would like to make a proposal, please us at [email protected]

LIMITATIONS OF THE STUDY



While analyzing the exit interview forms I noticed that some of the forms are partially filled due to which I was not able to get comprehensive information.



Some exit interview forms were not filled qualitatively.



The information and experiences furnished by exiting employees may be influenced by

personal biases. 

Sometimes the exiting employee is reluctant to give a fair view point on certain issues or they find the issues too personal to share.



There were very few exits from certain departments and during analysis only their individual views could be taken into .



There were certain departments from where there have been many exits but either there were no or very few exit forms available for study therefore it was not possible to analyze the whole department from those few exit forms.



While providing suggestions and recommendations the dissatisfaction of the exiting employees on certain policies have been taken into , aii the suggestions and recommendations may not be valid because certain policies may have been changed already.

DATA ANALYSIS AND INTERPRITATION

The source of Data collection is PRIMARY SOURCE AND SECONDARY SOURCES PRIMARY SOURCE includes: Visiting different departments and meeting Head of Department and collecting the data.

SECONDARY SOURCE includes: 

DATA



Monthly Report

Q1 How many Doctors are resigned? Band

Number

W Band

10

X Band

3

Y Band

1

Number 1

W Band X Band

3

Y Band 10

This graphs shows that in a year how many doctors was resigned, according to band.

Q2 What all are the reason behind attrition?

Reson

Number

Personal Reason

2

Better Opportunities

8

Higher Studies

4

Reason Of Attrition

2

4

Personal Reason Better Opportunities Higher Studies

8

2% of the employees said Personnel Reason, 8% Better Opportunities and 4% Higher Studies.

Q3 What are the ratio of attrition in a year? Total Doctors Staff Technician Nurses Total

Exit 69 89 50 325 533

14 25 4 84 127

Ratio 0.30% 0.60% 0.10% 2% 3%

350 300 250 200 Total

150

Exit

100 50 0 Doctors

Staf

Technician

Nurses

90% employees agree that hospital fulfills the requirement of every department

Q4 Is manpower skilled, unskilled or semi-skilled?

2%

20% skilled

semiskilled

78%

unskilled

Almost all employees are skilled. Only 2% are unskilled.

Q5 What is the division of manpower regarding regular, contractual and union employees?

regular

589

contractual

352

union

36

700 600

589

500 400

352

300 200 100

36

0 regular

contractual

union

Risk management is key Fortis Bank is a leading Benelux-based financial services provider. Since its inception, Fortis has grown considerably through organic growth as well as through strategic acquisitions. Risk management has played a significant role in this expansion. This key function has helped foster sound development across both business units and various national boundaries. Asset and liability management (ALM) is part of the investment department. It focuses on managing structural risks in interest rates, equity, and liquidity in order to optimize risk versus return. Assessing such risks calls for clear and detailed reporting. However, it had reached the point where this was becoming ever more complicated within Fortis Bank.

Setting the basis for frequent risk reporting Fortis Bank’s widespread activities have created a very complex inflow of information. “Market data, product descriptions, cash flow data, and other necessary information reached us from various sources and in different formats,” explains Benny Degraeuwe, Head of Asset and Liability Management at Fortis Bank. “Making an ALM risk report based on such heterogeneous information proved to be a very time consuming task that limited us to ad hoc reporting. But management expects ALM reports regularly, on a monthly basis, taking into all optional features of different products. To adhere to this call for transparency and completeness we needed a new and improved ALM risk management system. One that is equipped with a reporting tool that gathers all

necessary data and that enables us to create risk reports for all assets and liabilities, both consolidated and per entity.”

Improved efficiency with a robust reporting tool “We immediately ed SAS,” Benny Degraeuwe continues. “We have wide experience with SAS within the bank and have excellent internal for its software. But more importantly, the SAS ALM solution has a modular structure, making it easy to expand the system with new modules. SAS also enables multitasking - information from various sources can be processed in parallel. In addition, SAS is extremely friendly. For instance, compared to the previous ALM risk management system, the /analyst no longer needs to program in a code to tailor an interest rate.Risk report. All of these characteristics combine to create a robust system with reliable performance.”

Working in parallel with constantly updated data SAS ALM also adds flexibility to the application. It is a perfect combination, according to Benny Degraeuwe. “Our first ALM risk management system could only be used by one person at a time. Today, multiple s can make various reports simultaneously. Each is guaranteed up-to-date information at any time. Needless to say, the new system frees up an enormous amount of time.”

More time for structural risk analysis SAS brings vast efficiency to the ALM reporting process. Today, ALM employees at Fortis Bank only need a few mouse clicks to generate such things as a duration or a value-at-risk report. “The system collects all of the necessary data, applies the correct calculation method, and presents the with a transparent report. And there is more. All information is easily exported to, for instance, Excel where we can perform additional analyses,” says Benny Degraeuwe. “Thanks to such improvements, we now have more time available for thoroughly analyzing and interpreting the data itself.”

s convinced from the start Initially, the s were reluctant to change from the ALM reporting system they were used to. After the project was concluded, however, all analysts were very enthusiastic about the application. “During the project, the s were closely involved in the various testing phases,” notes Benny Degraeuwe. “The combination of full documentation and training sessions presented by the SAS project staff ensured that all s developed a thorough insight into how the system functions. This has greatly improved their confidence in the system. They are convinced that the new solution provides them with all the accurate information they require.

U M n g i r t . H H R e a

And this in a friendly and efficient manner.”

Prepare for the future Today, the consolidated ALM risk reporting application generates reports on the valuation and risks attached to all assets and liabilities of Fortis Bank. This can be carried out using current market conditions as well as various stress tests. “Currently, this information is only accessible for ALM employees at Fortis Bank Brussels. But in the future, the tool will also be applicable across national boundaries. It is easily expanded, giving all ALM employees access to up-to-date ALM information - anytime, anywhere,” asserts Benny Degraeuwe. A. Departmental Objectives: 1. To ensure availability and retention of quality talent to meet the organization goals and objectives. 2. To promote a culture of achievement and excellence with emphasis on Integrity, attitude, credibility and quality. 3. To enhance the competence of human resource to deliver Fortis quality healthcare in the Fortis Way. 4. To develop Business Leaders for tomorrow. 5. To shift from group function to strategic partner in business operations.

B. Functions of the Department  Training: Overall growth and development of the employees, functional training, handling projects like FAP.

C. Departmental Structure (Unit)

D. Interdepartmental Coordination All departments

This detailed Report provides an Earnings and Dividends history for Escorts Finance Limited. Tabular results include up to a ten-year history of "as reported" Earnings per Share and Dividends per Share plus a calculation of the amount of earnings paid out over the year in

dividends (i.e. Payout Ratio). Earnings and Dividends are presented on both a Quarterly and Annual basis. An annual Percent Change factor is calculated for both Earnings and Dividends. Escorts Finance Limited. The Company's principal activity is to provide hire purchase financing, leasing, investments, corporate loans, IPO funding, venture capital and bills discounting services

Layout and Content of a Typical Report

RECOMMENDATIONS



Attendance system is rigid. Card punching to be made flexible at least for executives and above depending on the job nature and extended working hours.



FORTIS management at all levels should try to understand its employee’s capabilities, give up favoritism and vindictiveness.



Clearly define and review roles and responsibilities of each individual each quarter.



More attention should be given to GETs and new ees especially after ing a division and timely should be taken.



Office timings should be flexible. Alternate Saturdays should be a holiday.



Build self confidence in individuals.



Clearly define and review roles and responsibilities of each individual each quarter.



Treats employees like Customers.



Senior Management to communicate with there employees on a regular basis to understand their aspirations and expectations through formal and informal meetings and

to promote two- way communication.



Clearly defined Job Descriptions for all the employees in the company should be carried out (Different for different level and bands.)



Consider both a person’s culture-fit and job-fit.



Job content to be aligned with qualification and experience of the people.



More focus to be given to job empowerment and delegation.



Every level should have clear cut responsibilities and this should change with a change in level.



There should be a check mechanism on the competency and knowledge level of employees.



Training for people in the field should be made mandatory as it leads to self development.



FORTIS should have a Fast Track Promotion scheme according to the performances of the employees.



Identifying the right training for the right person.



Mentoring and handholding new recruits in order to help them stabilize and in turn retain them.



Salary revisions to be more competitive and aggressive as we are loosing people to various sectors. Being the leader in the auto sector, others to benchmark FORTIS.



Promoting two way communications through various forums by Top and Senior Management is the need of the hour.



A clear and transparent understanding of the salary Structure to be provided to all the new er as well as the laterals and the existing employees.



Initiate HR policies aimed to retain people.



HR initiatives aimed at retaining people.



Functions need to be valued and appreciated with in and out side the division for motivating its employees.



HR should interact with regional offices; it will help employees to understand the

company and its activities.

There should be ability attached to the reporting officer in cases where in the subordinate are dissatisfied.

CONCLUSION

CONCLUSION A stiff competition among the play back players in the Hospitality Line or Medical Sector. 

People have show there efforts or preferences towards there performance and there job.



Lots of people are drawn towards the Hospitality Line because it’s a safety line for all and give a chance to interact with lots of people.



Many people are left there jobs also but its not mean that this line is insecure. They left because of growth



Fortis Attrition Analysis will teach us that maximum attrition of the people will provide good growth in group.



Human Resource policies are focused on the better retention of the people.



Slow career growth, for the initial two to three years, due to this maximum attrition is seen in employees with less then 4 years of experience in Fortis.



Always be a clear and transparent understanding of the salary structure to be provided to all the new ees as well as the existing employees

BIBLIOGRAPHY



Human resource management— K. Ashwathappa.



Personnel management—Arun Monappa and Saiyaddin.



www.fortishealthcare.com.



www.google.com.



www.wikipedia.com.



Orientation and manual, Escorts Hospital and Research Center Limited.

APPENDICES

QUESTIONNAIR:-

Q1 How many Doctors are resigned? Band

Number

W Band

10

X Band

3

Y Band

1

Q2 What all are the reason behind attrition?

Reson

Number

Personal Reason

2

Better Opportunities

8

Higher Studies

4

Q3 What are the ratio of attrition in a year? Total Doctors Staff Technician Nurses Total

Exit 69 89 50 325 533

14 25 4 84 127

Ratio 0.30% 0.60% 0.10% 2% 3%

Q4 Is manpower skilled, unskilled or semi-skilled?

2%

20% skilled

semiskilled

78%

unskilled

Almost all employees are skilled. Only 2% are unskilled.

Q5 What is the division of manpower regarding regular, contractual and union employees?

regular

589

contractual

352

union

36