A PROJECT REPORT ON EMPLOYEES TRAINING AND DEVELOPMENT IN BMA WEALTH CREATORS LIMITED PUNE

IN PARTIAL FULLFILMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE IN MASTER OF PERSONEL MANAGEMENT SUBMITTED TO UNIVERSITY OF PUNE
BY AMIT PAHWA

MPM 2010-2012 MATRIX BUSINESS SCHOOL, PUNE

CERTIFICATE

This is to certify that Project Report titled EMPLOYEES TRAINING AND DEVELOPMENT IN BMA WEALTH CREATORS LTD PUNE is a bonafide work carried out by AMIT PAHWA student of MPM of MATRIX BUSINESS SCHOOL under our guidance and direction.

Date: Location- Pune

DECLARATION
I hereby declare that the report titled EMPLOYEES TRAINING AND DEVELOPMENT is a bonafide record of the summer project done by me at BMA WEALTH CREATORS LTD., PUNE during the period of starting of JUNE to the end of JULY as part of my master in Personnel management (MPM) program at MATRIX Business School, PUNE. This study has been undertaken in partial fulfillment of the requirement for the award of MPM by MATRIX business school, PUNE.

This information has been used for purely academic purpose.

Amit Pahwa
MPM IIIrd Sem

ACKNOWLEDGEMENT
Success is not a destination But a journey, it is often said. The satisfaction that is generated by the successful completion of a task would remain unfulfilled without mentioning people who have encouraged and guided at every step toward the completion of the task. I take this opportunity to express my gratitude towards those, whose guidance and co- operation has helped me immensely during the completion of this project. This project bears the imprint of many people who are directly or indirectly involved in successful completion of this endeavor. I would like to express my heartfelt sincere gratitude, to the management of BMA WEALTH CREATORS LTD. PUNE for giving me the opportunity to do my summer training from the organization, I had a wonderful as well as great learning experience during 60 days of internship. I am also thankful to Mr. Nitin kodmur (External Guide) under whose guidance I did my training. I am extremely thankful to Dr. J.N. Pol (Director) and Prof. Amrita Rath (Internal Guide), for her valuable suggestions and guidance. I humbly acknowledge there is always some scope for further improvement and to that end sincerely I invite valuable suggestions

AMIT PAHWA

INDEX
Sr. No.
1 2 3 4

Title
Executive Summary Objectives of the study Introduction Company Profile

Page No.

Literature Review

6 7

Research Methodology Data Analysis & Interpretation

Finding &Suggestion

Conclusion

10

Annexure

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Bibliography

EXECUTIVE SUMMARY
With the world-wide expansion of companies and changing technologies, Indian Organizations have realized the importance of corporate training. Training is considered as more of retention tool than a cost. Today, human resource is now a source of competitive advantage for all organizations. Therefore, the training system in Indian Industry has been changed to create a smarter workforce and yield the best results. With increase in competition, every company wants to optimize the utilization of its resources to yield the maximum possible results. Training is required in every field be it Sales, Marketing, Human Resource, Relationship building, Logistics, Production, Engineering, etc. It is now a business effective tool and is linked with the business outcome With increase in awareness of corporate training in Indian Industry, a gradual shift from general to specific approach has been realized In Indian market, 50% of the training companys revenue comes from the retail training and rest from other segments On the other hand, in many organizations training is regarded as non-essential or a need based activity. Some organizations start a training department in order to look modern. In fact, some organizations are headed by unwanted employees rather than employees of outstanding merit. While some organizations do not have a separate budget to hire highly qualified trainers for training and development Trainers play a very important role for an effective training to be delivered. They themselves should posses many attributes so as to imbibe and transfer those to the trainees. The prerequisites of a good trainer should be surely filled in by a trainer. He must possess all the skills required for delivering an efficient training.

OBJECTIVE OF THE STUDY

The principal objective of training and development division is to make sure the availability of a skilled and willing workforce to an organization. In addition to that, there are four other objectives: Individual, Organizational, Functional, and Societal. Individual Objectives help employees in achieving their personal goals, which in turn, enhances the individual contribution to an organization. Organizational Objectives assist the organization with its primary objective by bringing individual effectiveness. Functional Objectives maintain the departments contribution at a level suitable to the organizations needs.

Societal Objectives ensure that an organization is ethically and socially responsible to the needs and challenges of the society

INTRODUCTION

What is the training and development?

Training is an educational process. People can learn new information, re-learn and reinforce existing knowledge and skills, and most importantly have time to think and consider what new options can help them improve their effectiveness at work. Effective trainings convey relevant and useful information that inform participants and develop skills and behaviors that can be transferred back to the workplace. The goal of training is to create an impact that lasts beyond the end time of the training itself. The focus is on creating specific action steps and commitments that focus peoples attention on incorporating their new skills and ideas back at work. Training can be offered as skill development for individuals and groups. In general, trainings involve presentation and learning of content as a means for enhancing skill development and improving workplace behaviors. Organizational Development is a process that strives to build the capacity to achieve and sustain a new desired state that benefits the organization or community and the world around them. (from the Organizational Development Network website) OD work implies creating and sustaining change. An OD perspective examines the current environment, the present state, and helps people on a team, in a department and as part of an institution identify effective strategies for improving performance. In some situations, there may not be anything wrong at the present time; the group or manager may simply be seeking ways to continue to develop and enhance existing relationships and performance. In other situations, there may be an identifiable issue or problem that needs to be addressed; the OD process aims to find ideas and solutions that can effectively return the group to a state of high performance. These two processes, Training and Organizational Development, are often closely connected. Training can be used as a proactive means for developing skills and expertise to prevent problems from arising and can also be an effective tool in addressing any skills or performance gaps among staff. Organizational Development can be used to create solutions to workplace issues, before they become a concern or after they become identifiable problem

COMPANY PROFILE

BMA WEALTH CREATORS LIMITED

Corporate Profile About BMA Wealth Creators A premier financial services organization providing individual and corporates with customized financial solutions. We work towards understanding your financial goals and risk profile. Our expertise combined with thorough understanding of the financial markets results in appropriate investment solutions for you. At Wealth Creators we realize your dreams, needs, aspirations, concerns and resources are unique. This is reflected in every move we make with and for you. We have deep appreciation for the Value of building an everlasting relationship with YOU. Our financial services corporate entities are represented by :

BMA WEALTH CREATORS LTD. - which holds corporate membership in National Stock Exchange Ltd, Bombay Stock Exchange Ltd. and Central Depositories Securities Ltd

BMA COMMODITIES PVT. LTD. Which holds corporate membership in commodities exchange of NCDEX and MCX. It is also is SEBI approved AMFI registered Mutual Fund advisory and intermediary. We inherit the legacy of BMA group which has been one of the dominant entities in Ferrous and Ferro Alloy industry in India. The BMA Group has created its niche in by promoting successful ventures in the fields of coal mining, refractory, steel and Ferro alloy. The strive to achieve excellence and dynamic growth has been possible through optimum mix of technology, customer orientation, best business practices, forging alliances, high quality standards and proactive business culture.

MISSION To be a premier financial supermarket providing integrated investment services

VISION To provide integrated financial services building investor wealth and confidence

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Members of the Management

Anubhav Bhatter Managing Director & CEO

Avinash Agarwal Director Asit Kumar Ghosh Director Saikat Ganguly COO

Sudhanshu Agarwal Director Shiv Kumar Damani Director

Product and Services Equities & Equity Derivatives (NSE, BSE) Commodity Futures (MCX, NCDEX) Currency Futures (MCX SX) Depository Services (NSDL, CDSL) Mutual Funds (AMFI) Insurance Life and Non Life / Group Insurance (IRDA) IPOs , Bonds and fixed Deposits

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Product and Services

Equity Broking BMAWC, as a member of the National Stock Exchange and the Bombay Stock Exchange, offers you equity trading through a network of various offices across the country. It is our objective to offer you a range of services to suit your trading needs. Therefore, apart from investment activity, you can undertake day trading at both the above exchanges. Seamless Execution BMAWC provides unmatched flexibility and the power of choice to the clients for executing trades through multiple channels, viz., through our main office or branches, at any of our franchise centers or over telephone. A client may use any of these secured channels to communicate his/her orders, and he/she would be identified by his/her account code. We have endeavored to design all our processes and systems with a client-centric focus to provide a client the convenience of transacting with us through the mode and channel of his/her preference.

Technical Analysis BMAWC has its own Equity Research team with rich experience in identifying and analyzing attractive investment opportunities with fundamental long-term growth potential. The team also has a division specializing in Technical Analysis, which offers technical tips for short term and day trading.

Daily Analysis Outlines the days market outlook, latest domestic and international market developments, our call on the upcoming economic and market environment and highlights the stocks which we expect to outperform over the months ahead.

Derivatives Trading BMAWC provides trading facilities in Equity Derivatives at National Stock Exchange (NSE) since 200 and over the years, been able to generate substantial revenues with rising volumes from wide scale participation of retail investors in this segment.

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Depository Services BMAWC is a depository participant with CDSL and NSDL. BMAWC offers a range of services including : < Account opening facilities < Dematerialization of physical shares < Re-materialization < Pledging

Financial Products Distribution Product Basket Our Financial Products Distribution (FPD) desk handles all types of primary market investments you may require. Be it a Mutual Fund, Life Insurance, General Insurance , Bonds, Fixed Deposits of blue chip corporates or IPO's of Equities. A strong distribution channel across the country providing easy access to our clients is dispersed over several states.

Mutual Funds Our team tracks the performance of Mutual Funds across the gamut of investor options and advises investors. In addition to tracking the key performing funds and analyzing the portfolios and maturity profiles of different funds, our FPD team is geared to advice investors on the available options / NFOs to best suit their investment needs.

Insurance BMAWC is a leading intermediary in the LIFE and General Insurance market licensed by Insurance Regulatory and Development Authority of India. At BMAWC, we analyze the client's requirement and capacity to understand their risk exposure and then evaluate their insurance portfolio in terms of its adequacy to protect the same. Our focus is to develop cost effective and near foolproof insurance package for our clients. In the event of a claim, our team facilitates the process to ensure speedy settlements. BMAWC has professional relationships with major Life and non-life insurance companies in the country and is well poised to provide its clients a comprehensive risk management strategy. (Reliance Life Insurance, Birla Sun Life Insurance, Apollo DKV Health Insurance, National Insurance Company and Reliance General Insurance are our Key Partners) Bonds For investors who prefer risk-free returns without the tension of volatile markets, the best option is the GoaI Savings Bond. These bonds have sovereign guarantee and thus give safe returns.

BMA WC takes the help of its own Research Desk in order to choose and cater Fixed Deposits of blue chip corporates.

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IPO's In case of IPOs of Equities, PSL markets almost all the major issues that hit the Indian Capital Market. Customised Services And if you are interested in any of the above investments, we would be privileged to be of assistance to you to invest your money safely. All you have to do is to call your nearest BMAWC Office and any of our team members will get in touch with you. . Competitive Strength Regional management (regional hub and spoke topology) for retail operation Large and diverse distribution network Strong track record of high growth and profitability Strong risk management system Well established brand Existing Business Networks BMA WEALTH CREATORS LTD has 25 strategically located own offices in India, with its headquarters in Salt Lake and 700 plus business outlets in all prime locations of India Eastern Region Southern Region Western Region Northern Region Kolkata, Chennai, Baroda, Delhi, Siliguri, Salem, Mumbai, Noida, Burdwan, Bangalore, Pune, Kanpur, Durgapur, Hyderabad, Varanasi, Cuttack, Coimbatore, Lucknow, Bhubhaneshwar, Jamshedpur, Tamluk

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LITREATURE REVIEW

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Training and development?

Training is an educational process. People can learn new information, re-learn and reinforce existing knowledge and skills, and most importantly have time to think and consider what new options can help them improve their effectiveness at work. Effective trainings convey relevant and useful information that inform participants and develop skills and behaviors that can be transferred back to the workplace. The goal of training is to create an impact that lasts beyond the end time of the training itself. The focus is on creating specific action steps and commitments that focus peoples attention on incorporating their new skills and ideas back at work. Training can be offered as skill development for individuals and groups. In general, trainings involve presentation and learning of content as a means for enhancing skill development and improving workplace behaviors. Organizational Development is a process that strives to build the capacity to achieve and sustain a new desired state that benefits the organization or community and the world around them. (from the Organizational Development Network website) OD work implies creating and sustaining change. An OD perspective examines the current environment, the present state, and helps people on a team, in a department and as part of an institution identify effective strategies for improving performance. In some situations, there may not be anything wrong at the present time; the group or manager may simply be seeking ways to continue to develop and enhance existing relationships and performance. In other situations, there may be an identifiable issue or problem that needs to be addressed; the OD process aims to find ideas and solutions that can effectively return the group to a state of high performance. These two processes, Training and Organizational Development, are often closely connected. Training can be used as a proactive means for developing skills and expertise to prevent problems from arising and can also be an effective tool in addressing any skills or performance gaps among staff. Organizational Development can be used to create solutions to workplace issues, before they become a concern or after they become identifiable problem

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2.2 Approach Of Training & Development

Traditional Approach - Most of the organizations before never used to believe in training. They were holding the traditional view that managers are born and not made. There were also some views that training is a very costly affair and not worth. Organizations used to believe more in executive pinching. But now the scenario seems to be changing.

Modern approach - The modern approach of training and development is that Indian Organizations have realized the importance of corporate training. Training is now considered as more of retention tool than a cost. The training system in Indian Industry has been changed to create a smarter workforce and yield the best results.

2.5 Importance Of Training & Development Optimum Utilization of Human Resources Training and Development helps in optimizing the utilization of human resource that further helps the employee to achieve the organizational goals as well as their individual goals. Development of Human Resources Training and Development helps to provide an opportunity and broad structure for the development of human resources technical and behavioral skills in an organization. It also helps the employees in attaining personal growth. Development of skills of employees Training and Development helps in increasing the job knowledge and skills of employees at each level. Productivity Training and Development helps in increasing the productivity of the employees that helps the organization further to achieve its long-term goal.

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Team spirit Training and Development helps in inculcating the sense of team work, team spirit, and inter-team collaborations. It helps in inculcating the zeal to learn within the employees. Organization Culture Training and Development helps to develop and improve the organizational health culture and effectiveness. Organization Climate Training and Development helps building the positive perception and feeling about the organization. The employees get these feelings from leaders, subordinates, and peers. Quality Training and Development helps in improving upon the quality of work and worklife. Healthy work environment Training and Development helps in creating the healthy working environment. It helps to build good employee, relationship so that individual goals aligns with organizational goal. Health and Safety Training and Development helps in improving the health and safety of the organization thus preventing obsolescence. Morale Training and Development helps in improving the morale of the work force. Image Training and Development helps in creating a better corporate image. Profitability Training and Development leads to improved profitability and more positive attitudes towards profit orientation

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2.6 Methods Of Training

There are various methods of training, which can be divided in to cognitive and behavioral methods. Trainers need to understand the pros and cons of each method, also its impact on trainees keeping their background and skills in mind before giving training. There are various methods of training, which can be divided in to cognitive and behavioral methods. Trainers need to understand the pros and cons of each method, also its impact on trainees keeping their background and skills in mind before giving training. Cognitive methods are more of giving theoretical training to the trainees. The various methods under Cognitive approach provide the rules for how to do something, written or verbal information, demonstrate relationships among concepts, etc. These methods are associated with changes in knowledge and attitude by stimulating learning.

Cognitive approach for T&D: LECTURES DEMONSTRATIONS DISCUSSIONS COMPUTER BASED TRAINING (CBT) INTELLEGENT TUTORIAL SYSTEM(ITS) PROGRAMMED INSTRUCTION (PI) VIRTUAL REALITY

Behavioral methods are more of giving practical training to the trainees. The various methods under Behavioral approach allow the trainee to behavior in a real fashion. These methods are best used for skill development.

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Behavioral approach for T&D GAMES AND SIMULATIONS BEHAVIOR-MODELING BUSINESS GAMES CASE STUDIES EQUIPMENT STIMULATORS IN-BASKET TECHNIQUE ROLE PLAYS

Both the methods can be used effectively to change attitudes, but through different means. Another Method is MANAGEMENT DEVELOPMENT METHOD MANAGEMENT DEVELOPMENT The more future oriented method and more concerned with education of the employees. To become a better performer by education implies that management development activities attempt to instill sound reasoning processes. Management development method is further divided into two parts: ON THE JOB TRAINING The development of a manager's abilities can take place on the job. The four techniques for on the job development are: COACHING MENTORING JOB ROTATION JOB INSTRUCTION TECHNIQUE (JIT)

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OFF THE JOB TRAINING There are many management development techniques that an employee can take in off the job. The few popular methods are: SENSITIVITY TRAINING TRANSACTIONAL ANALYSIS STRAIGHT LECTURES/ LECTURES SIMULATION EXERCISES

2.7 Training & Evaluation

The process of examining a training program is called training evaluation. Training evaluation checks whether training has had the desired effect. Training evaluation ensures that whether candidates are able to implement their learning in their respective workplaces, or to the regular work routines.

Purposes of Training Evaluation The five main purposes of training evaluation are: Feedback: It helps in giving feedback to the candidates by defining the objectives and linking it to learning outcomes. Research: It helps in ascertaining the relationship between acquired knowledge, transfer of knowledge at the work place, and training.

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Control: It helps in controlling the training program because if the training is not effective, then it can be dealt with accordingly.

Power games: At times, the top management (higher authoritative employee) uses the evaluative data to manipulate it for their own benefits. Intervention: It helps in determining that whether the actual outcomes are aligned with the expected outcomes.

Process of Training Evaluation Before Training: The learner's skills and knowledge are assessed before the training program. During the start of training, candidates generally perceive it as a waste of resources because at most of the times candidates are unaware of the objectives and learning outcomes of the program. Once aware, they are asked to give their opinions on the methods used and whether those methods confirm to the candidates preferences and learning style

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RESEARCH METHODOLOGY

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Research is a scientific & systematic search for pertinent information on a specific topic. It is an art of scientific investigation. Research is a voyage of discovery. It is also said to be the pursuit of truth with The role of research in several fields of applied economics, whether related to business or to economy as a whole, has greatly influenced in modern times. The increasing complex nature of business & government has focused attention on the use of research in solving problems. The stages which are there in research process are as follows: 1. Problem formulation or Objectives of the Study 2. Preparation of the research design 3. Data Sources 4. Data Collection Techniques 5. Market Segmentation 6. Fieldwork & Sample Design 7. Data Analysis & Interpretation 8. Developing Logical Conclusion

1. Objectives of the StudyTo understand the effect of training and development program on working of the organization.

2. Preparation of the Research DesignA research design is the arrangement of the conditions for collection & analysis of data. Actually it is the blue print of research project. The research design is as follows: Descriptive Research a. Survey Method b. Questionnaire Method

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3. Data SourcesThe data collection process was carried out in various stages. These stages can be clubbed under two major heads.

1. Primary Source-Survey 2. Secondary Sources

1. Primary Source-Survey: A random survey was carried out while going out to contact the respondents.

2. Secondary Sources: Here the data collection tools were: directories, special publications, yellow pages, etc. There were still many such potential clients who were not listed in such publication so we had to find out about them through personal references & by generating leads from the various clients who gave us the names of various influential people.

4.Data Collection TechniquesThe Data was collected through questionnaire & telephone interviewing.

Questionnaire: The data was collected on a printed questionnaire, in which questions were asked in a logical order. Each question has a specific meaning. The data analysis is based on the data collected through these questions.

5. Fieldwork & Sample DesignData collection for this project was not an easy job without clearly identifying the exact areas which have to be included in the data gathering exercise. For the purpose of sampling, following steps were used: i. Defining the population or the universe ii. Developing a sampling frame

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iii. Selecting the sampling procedure iv. Determining the sample size v. Selecting the specified sample member Survey was done in ING.

These steps have been explained below one by one:

i. The Universe: The universe for the research is PUNE CITY ii. The sampling frame: The sampling frame may be defined as the listing of the general components of the individual unit that comprise the defined population. For this project the sampling frame was all the people in BMA WEALTH CREATORS ,PUNE

iii. Sampling procedure: Sampling procedure used in the project is non probability sampling. A purposive type of sampling was done and the required information was collected through convenience sampling.

iv. The sample size: The sample size when the complete data was collected came out to be 120. Sample Size 120

v. The data: The data was gathered by moving around in the field. This data added up to the already existing database (through references) which was available with us in the form of secondary data as directories & walk-ins.

7. Data Analysis & Interpretation: Analysis of the data was done by drawing inferences through what was collected as input from the respondents. The data analysis & interpretation part is dealt in detail on the next page. Interpretation was given on the basis of data analysis

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SUGGESTIONS
Before the training Programme:

Explain to the employee why they were selected for the training programme and discuss the
anticipated benefits for your department or division. This "preview" helps the employee focus on what is expected of them after the training programme finishes.

Ask the employee to describe the benefits they expect to receive from the programme. Having the employee focus on their personal expectations prior to the start of training can increase the learning potential of any programme.

Explain to the staff what is expected from them in terms of punctuality, attendance and participation in the training programme.

If more than one employee is being sent to a training programme, introduce them to each other so they feel comfortable with their fellow participants.

Ensure the employee understand how the training programme will benefit both their current job performance while improving their advancement potential.

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During the Training Programme:

For extended training programmes, have the participants brief their managers as the course progresses. This can be done via telephone or fax when face-to-face meetings are impossible.

These briefings "force" the participant to evaluate the material on a daily basis, thereby enhancing their learning outcome.

Managers should discuss any problems or uncertainties that arise in order to help participants identify examples of how the material can be applied on the job.

If the participants are required to complete an interim assignment the manager should get personnel that are not attending the course involved. This will maximize the amount of individuals who benefit from the course.

After the Training Programme:

Meet with course participants to review (1) what they learned, (2) how will they use the new knowledge in their day-to-day work, (3) suggestions they have for improving the course, and (4) who else should attend the course.

Ask the employees for suggested company improvements based on the material they learned during the training programme. Managers must be willing to implement these suggestions on a trial basis and ensure the employee is involved with the implementation and evaluation process.

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LIMITATION

The following were some of the limitations of our research:-

1> Different methods of training were used in every bank visited. It was difficult to gauge the experience of satisfaction received by each trainee. 2> We faced problems while collecting information about trainers because most of the banks outsourced the trainers. There were very less trainers who were the employees of the organisation. 3> In many banks, we faced the problem of privacy issues. The employees were not willing to give their feedback or information, since they were concerned about the misuse of the provided information. 4> Yet another limitation was about the time constraint. This was a dominant problem. Since, banks being crowded with customers and the employees busy with providing efficient services, they were not able to give us some time for filling the questionnaires. 5> Last but not the least, we had to make frequent and everyday visits to the various banks to collect the information.

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ANNEXURES

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Q1. Has your company organizes a training and development programme?

. Yes . No Q 2. On an average, how much time did it used to take for training and development programme? One Month Two Month Three Month Q 3. How much training programs has been made in the past one year? One Two Three Q 4. Do you have any training programs in the coming financial year? Yes No Q 5. Do your top management take feed back? Yes No

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Q 6. What do you think the training programs will be run in future? Yes No Q 7. Does your company use a specific training process? Yes No Q 8. Do you satisfy with organizational training and development programmme? Yes No

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