INTERNSHIP REPORT

Critical Analysis of SECP & SWOT

Analysis of HR&T Department
TAYYABA AKHLAQ

ACKNOWLEDGEMENT
1 | Page

I would like to thank my supervisor, Miss Ayesha Saddiqua, for the advice and guidance.

EXECUTIVE SUMMARY

2 | Page

During my internship at SECP, I was given the opportunity to observe how HR operations are carried out.
I was assigned tasks in which I had to re-organize and update HR archives, analyze and compare
operational HR methodologies and assist in day-to-day tasks of the department. Miss Ayesha Saddiqua
was my supervisor who assigned tasks to me and I reported her on completion. This report covers a
critical analysis of the organization and SWOT analysis of HR&T, followed by recommendations.

Contents
BRIEF INTRODUCTION OF SECP..................................................................................... 5
3 | Page

PLAN OF INTERNSHIP PROGRAM...................................................................................6

TRAINING PROGRAM.................................................................................................... 7
CRITICAL ANALYSIS OF SECP........................................................................................ 8
SWOT ANALYSIS OF HR&T DEPARTMENT.......................................................................9
CONCLUSION............................................................................................................. 10
RECOMMENDATIONS................................................................................................. 10
REFERENCES............................................................................................................. 10

BRIEF INTRODUCTION OF SECP

The Securities and Exchange Commission of Pakistan has been regulating the Insurance industry, since
January 2001 after it took over from the Controller of Insurance operating under Ministry of Commerce,
4 | Page

Government of Pakistan. The SECP regulates and monitors the Insurance Sector in the country through
powers vested in the Insurance Ordinance, 2000 and the Companies Ordinance, 1984.

Number of employees: Currently, there are 324 employees working at SECP.

Main offices: SECP Head office is located in Islamabad. CROs are located in Karachi, Lahore, Multan,
Faisalabad, Peshawar, Quetta and Sukkur.
Departments: The following departments work under 7 different divisions:

Local and Bilateral Relations Department

Media and Corporate Communication Department
Islamic Finance Department
Information System and Technology Department
Investor Education & International Relations Department
Corporate Supervision Department
5 | Page

Corporatization and Compliance Department

Legislation and General Counsel Department
Policy regulation & Development Department
Supervision & Enforcement Department
Licensing & Capital Issue Department
Finance Department
Human Resource and Training Department
Administration Department

PLAN OF INTERNSHIP PROGRAM

I did my internship at the SECP's head office in Islamabad, located in the NIC Building on Jinnah
Avenue, from 25th March - 6th May, 2015.
I worked in Human Resources & Training Department during the course of my internship. I was in the
recruitment and selection wing which performs the following tasks:

Advertise jobs, short listing candidates, and conducting tests and interviews as required.
Coordinate with the approved Head Hunters for searching potential employees.
Process documents of new and existing employees.
Negotiate salary and obtain references of new employees.
Conduct orientation of new employees.
Complete all the pre and post recruitment activities.
Advertise internships and manage the interns activities.
Any other assignment as deem fit by the concerned HOD.

I was also briefed on the day-to-day operations of Training & Organization Development Wing, HR
Operations, Relations and Appraisal Wing and Compensation, Benefits and Funds Wing.

TRAINING PROGRAM
Recruitment and Selection Wing
Recruitment involves finding and hiring the best-qualified candidates (internally or externally) for a job
opening, in a timely and cost effective manner. The recruitment process includes analyzing the job
requirements, attracting employees to that job, selecting applicants, hiring, and assimilating the new
employee to the organization through orientation.
Operations:

6 | Page

1) The newly hired employees undergo assessments during their probation period i-e six months. The
first assessment takes place at the end of third month and second assessment 15 days before the end
of sixth month. If an employee lacks in his/her performance then their training needs will be
addressed by T&OD.
2) Salary packages are designed according to the Salary Structure mentioned in HR manual and SECP
budget.
3) Preparation of Job Description form, Candidate Assessment form, Probation Performance Assessment
form and Performance Appraisal form in the light of SECP Competencies and values.
4) Managing leave record of employees.
5) Reviewing scores obtained from Candidate Assessment for annual performance cycle or promotion
cycle.
6) Maintenance of HR archives by recording new hires, transfers and promotions.
Tasks Performed during Internship:

Re-organized Job Description of employees.

Maintained records by updating employee data on MS excel.
Analyzed and compared various Workload Assessment Techniques, and implemented one of

the methodologies for HR department.

Evaluated Pakistans renowned Headhunters for future consultancy.
Created a timeline for Annual Performance Appraisal.
Suggested ways to appraise employee performance.
Assisted in framing SECP notifications.
Developed an internship plan for HR&T, IS&T and Administration Department.
Assisted in day-to-day HR operations.

CRITICAL ANALYSIS OF SECP

The Organizational structure of SECP has a classical approach to it i-e:
123456-

There is clear line of authority.

Well-defined levels of Hierarchy.
Division of labor in order to increase efficiency.
Chain of command.
Centralized decision-making.
Equity among employees.

SECP is a self-governed regulatory body supported by the government of Pakistan. The focus is on
achieving organizational goals through human resources, in the most effective and efficient way. There is
smooth running of management and administrative operations. The Recruitment process is transparent.
7 | Page

Tasks to be executed are carefully planned out, arrangements are made to assign task to the right
employee. After successful implementation, a comprehensive evaluation is performed to gather results.
There is no decentralization. Decision making is entirely in the hands of higher authorities. This
suppresses the creativity of employee because they are not given the opportunity to generate new ideas,
which ultimately leads an employee to lose interest, dissatisfaction and lack of motivation.
Inter-departmental collaboration increases the exchange of information and lead towards development.
The departments of SECP seldom collaborate in daily tasks. But, wings within a department collaborate
frequently.

SWOT ANALYSIS OF HR&T DEPARTMENT

Strengths
-

SECP has eight CROs but the department of HR&T is present in the Head office only.
Recruitment process is transparent.
The department offers attractive salary packages.
The Compensation plans cover long term options with reasonable benefits.
Highly skilled employees with commendable expertise in management-related tasks.
Facilitation of flexible work schedule.
Providing a better work environment.

Weaknesses
-

Tasks are mostly performed on an individual basis. Team activities are rarely performed.
Patterns of communication are highly formal.
Lack of creativity. No employee output in decision making.
There isnt much of socialization among staff members.

Opportunities
8 | Page

New policies are introduced from time to time.

Improved training approach and career development can generate even more productive workforce.
Integrating new technology in the department can be useful.
Establishing better appraisal strategies to maximize outcomes.
Incorporating latest HR practices in the department.
Promote teamwork within the department for improved performance.

Threats
-

The growing tendency in the commission to centralize may affect the operations of HR&T.
Formation of new government can affect the policy-making of HR&T.
The tasks of T&OD may be hindered if the commission runs low on budget.
Lack of creativity may increase employee turnover in the department.

CONCLUSION
SECP is an autonomous body supported by the government of Pakistan. The accountability of senior
officers and highly skilled employees give an edge to the organization. The centralized system of the
commission and absence of teamwork in the department can be a major reason for employee turnover and
incorporating latest HR practices in the HR&T department can help retain employee.

RECOMMENDATIONS
o
o

Impose a decentralized system among divisions.

There should be inter-departmental collaborations so that organizational goals can be achieved

o
o

efficiently.
The culture should be employee-oriented that emphasizes on quality and high productivity.
Endorse employee engagement by involving employees in management decisions through polls,

surveys and general meetings.

HR&T department should implement improved HR methodologies for better employee

o
o

performance.
Promote team work among employees by assigning group tasks.
Conduct informal training sessions to enhance cognitive skills of employees and stimulate
creativity

o
o
o
o
o

through

problem-solving

techniques

like,

critical

thinking,

brainstorming,

storyboarding and mind- mapping.

Encourage new ideas by supporting and acting on them as deem fit.
There must be an executive for internship activities/ supervision of interns.
Provide a common room for female staff.
Arrange for sanitizer dispensers on every floor to minimize health concerns.
There should be a Cafeteria serving healthy food. The menu for each day should be carefully
planned and food inspection must be carried out on a weekly basis to ensure hygiene.

9 | Page

REFERENCES
http://www.secp.gov.pk/index.asp
http://www.businessdictionary.com/definition/recruitment.html
http://eprints.lse.ac.uk/8070/1/Facilitating_collaboration_across_organisational_boundaries_(LSERO).pdf

10 | P a g e