Page 45 - DMGT406_HUMAN_RESOURCE_MANAGEMENT

Human Resource Management

Notes 1. Workforce Analysis: The average loss of manpower due to leave, retirement, death,
transfer, discharge, etc., during the last 5 years may be taken into account. The rate of
absenteeism and labour turnover should also be taken into account. The nature of
competition say from foreign banks, other non-banking financial institutions may also be
considered here to find out actual requirements in a year.
2. Work load Analysis: The need for manpower is also determined on the basis of workload
analysis, wherein the company tries to calculate the number of persons required for
various jobs with reference to a planned output.
While determining manpower requirements through work load analysis, commercial
banks may have to take the following factors into consideration: (i) the number of
transactions to be handled by an employee; (ii) the amount of deposits and advances per
employee; (iii) special requirements in respect of managing extension counters, currency
chests, mobile branches, etc.; (iv) future expansion plans of the bank concerned.
3. Job Analysis: Job analysis helps in finding out the abilities or skills required to do the jobs
efficiently. A detailed study of jobs is usually made to identify the qualifications and
experience required for them. Job analysis includes two things: Job description and job
specification.

Self Assessment

Fill in the blanks:
13. The basic purpose of human resource planning is to have an accurate estimate of the
number of employees required, with ........................... to meet organisational objectives.
14. ........................... helps in finding out the abilities or skills required to do the jobs efficiently.
15. Job analysis includes two things: Job description and ........................... .



Case Study HR Plan for Trading Assistants

agnum Financial Services Ltd. (MFSL) is a large financial services company
with over 4000 employees scattered all over India in their twelve branches. In
Mview of the ups and downs in the stock market, which affect the demand for and
supply of qualified finance graduates, from time to time, in different cities, it has been
decided sometime back to centralise manpower planning activities at the corporate head
quarters, viz., New Delhi itself.
The company has trading terminals spread over the whole of India. In addition to collecting
fixed deposits from corporate houses and general public, it has also been managing funds
from high net worth individuals. It has plans to launch a number of mutual fund products
for which approval has come from Securities Exchange Board of India. It has considerable
reputation in the market as a merchant banker and as a money changing agent.

Hiring people with requisite skills, especially after the introduction of the online trading
mechanism, is proving to be a tough job. The stock indices have been galloping day by
day, thanks to the dramatic growth rates reported by information technology companies
in recent months. Looking at the increasing number of trading centres that are opening in
various parts of the country, the company wanted to hire twenty five trading assistants by
Contd...

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