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Group 1
Parth Kushwaha
Shivam Gupta
Shubham Randhar
Aditya Kondawar
NVR Sandeep
NVR Pradeep

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.
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).
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

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

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.
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
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
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
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
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.