a study on competency mapping of the employees of reliance mutual fund”

A REPORT

ON

“A STUDY ON COMPETENCY MAPPING OF THE EMPLOYEES OF RELIANCE MUTUAL FUND”

BY

RITU OJHA (6ND 12665)MBA II

ICFAI NATIONAL COLLEGE,KOTA.

ORGANISATION

A REPORT

ON

“A STUDY ON COMPETENCY MAPPING OF THE EMPLOYEES OF RELIANCE MUTUAL FUND”

BY

RITU OJHA (6ND 12665)MBA II

ICFAI NATIONAL COLLEGE,KOTA.

A report submitted in partial fulfillment of the requirements of

MBA Program (Class of 2006-08)ICFAI NATIONAL COLLEGE

COPIES MARKED LIST: Company Guide Faculty GuideINC Center

DECLARATION

I hereby declare that this project work entitled “A STUDY ON

COMPETENCY MAPPING OF THE EMPLOYEES OF RELIANCE

MUTUAL FUND” is my work, carried out under the guidance of my faculty

guide Ms Pooja Kashyap and Ms Shikha Mishra faculty of ICFAI National

College, Jaipur and my company guide Mr. Ashish Purohit (Area Manager,

Reliance Mutual Fund, Jaipur). This report neither full nor in part has ever

been submitted for award of any other degree of either this university or any

other university.

RITU OJHA

(6ND12665)

TABLE OF CONTENTS

Acknowledgement………………………………………………

Preface……………………………………………………………

Executive Summary……………………………………………

CHAPTER I -

Objective

Limitation

Methodology

CHAPTER II -

Industry profile

History and organization of Mutual Fund in India

Mutual Fund companies in India

Recent trend in Mutual Fund Industry

Association of Mutual Fund in India

CHAPTER III -

Company Profile

Jaipur Branch Hierarchy

Introduction

Product and service of Reliance MF

CHAPTER IV -

SWOT Analysis

CHAPTER V -

Concept and definitions of Competency

Levels of Competency

Identification of Role Competencies

Importance of Competencies for the individual employees

Competency development table

Concept and definitions Competency mapping

Required competencies for Competency mapping

Tools/methods for Competency mapping

Introduction to 360-degree approach in Competency mapping

Benefits of 360-degree approach in Competency mapping

Analysis of Competency mapping in Reliance Mutual Fund

CHAPTER VI -

Findings

CHAPTER VII -

Recommendation

CHAPTER VIII-

Conclusion

CHAPTER IX –

Questionnaire

Bibliography

ACKNOWLEDGMENT

The main purpose of the practical training is to develop among the student a full knowledge about industrial environment. As a student of MBA practical training is must. In practical training I had undergone four months in Reliance Mutual Fund, Jaipur.This Management Thesis report is an outcome of the many who helped me throughout in preparation. I am really very much indebted to all of them.It is extremely difficult, if not possible to thank individually the numerous fellow persons who patronized this dissertation report.

Indeed, I cannot completely describe their support to me but it is only a very small attempt to show my gratification to them. I feel pleasure for paying completely hearty gratitude to them.

I have immense pleasure in conveying my debt sense of gratitude to my Center Head (INC, Kota) Dr. Geeta Gupta for providing me the company for my training.

I am thankful to my SIP Center Head (Jaipur) and all the staff for helping me in each stage.

I exuberantly thankful to my company guide Mr. Ashish Purohit (Area Manager, Reliance Mutual Fund, Jaipur) who supported me and guide me in a proper direction.He also motivated me throughout my training.

I sincerely believe that the road of improvement is never ending. Hence I shall forward to end gratefully acknowledge all suggestions received. I am highly grateful to Ms Pooja Kashyap (Faculty Guide, INC, Jaipur), Ms Shikha Mishra (HR Faculty, Jaipur), Ms Meenakshi Chauhan (HR Faculty, Kota) for acting as a Guiding star for me.

I am thankful to my parents and my friends for their support in my project.

Last but not the least my sincere apologies are who helped me in a variety of wage and

whose name could not be individually acknowledged.

PREFACE

Management of modern business requires an appreciation of multidisciplinary concept and in depth knowledge of specific analytical tools, geared to the solution of real life problems. No doubt every real situation is unique but a set of theoretical tools of knowledge, itself based on empirical foundation, can help in developing the mechanism for handling such situation. So the MBA curriculum has been desired to provide to the future managers ample practical exposure to the business world.Summer Internship Program is essential for the fulfillment of MBA curriculum; it provides an opportunity to the student to understand the industry with special emphasis on the development of skills in analyzing, interpreting practical problems through application of management.

The project study “ A study of Competency mapping of the employees of Reliance Mutual Fund” was carried out in Reliance Mutual Fund, Jaipur.This project study will be helpful in analysis of the Competency mapping of the employees of Reliance Mutual Fund with 360-degree approach.

EXECUTIVE SUMMARY

Probably nothing can define the spirit of being ‘mutual’ better than this verse. And who else to understand it better than the mutual fund industry. It seems the mutual fund industry in India is slowly but surely beginning to recognize this aspect for the better. Today, there is greater emphasis on the role of the industry, the regulator. Securities and Exchange board of India (SEBI) and industry body, Association of Mutual Funds in India (AMFI) on creating awareness among investors and improving investor services. In fact, the efforts of both the regulator as well as AMFI are laudable for promoting the cause of investor education religiously.

The mutual fund industry has been remarkably resilient over the last decade in spite of varying economic conditions, capital market scams, and increasing competition. Today, many institutions are offering numerous schemes, tailored to meet the diversified needs of savers.

Reliance Industries Ltd. has promoted Reliance Mutual Fund (RMF) has been sponsored by Reliance Capital Ltd., one of India's largest private sector enterprises. Reliance Industries Ltd. has a net worth of Rs.34, 452 crores as on March31, 2004 and currently has a large family of shareholders. Reliance Capital limited is a Non Banking Finance Company engaged in leasing, investment and other fund based activities.

This project work is based on the “ Study of Competency mapping of the employees of Reliance Mutual Fund, Jaipur”.This is Competency era and a significant shift towards Competency Based Organization has been observed. People and their competencies have become the most significant factors that give a competitive edge to any corporation. HR Professionals and Line Managers can contribute a great deal to develop competency-based organizations.

With changing business scenario and new challenges emerging in the competitive world, successful performance in any job/task has taken a critical place, for organizational success. Competency mapping is one such process that helps in identifying and mapping competencies required for successful performance in a particular role. Competency mapping and assessment has gained paramount importance in organizations, for keeping people development strategies and processes in sync with organizational growth & objectives and maximizing the utilization of human potential.

Creating competency based culture and systems in organizations are the need of the hour. This creates a demand for HR professionals to have specialized skills and have a continuous up-gradation of knowledge.

In this project an attempt has been made to evaluate the Self-Competency and the required competencies for the different roles of the employees of Reliance Mutual Fund with the help of 360- degree approach of Competency mapping.

In Reliance Mutual Fund, Jaipur, there are total number of employees are 10. They all belong to different job/task. There are five major roles performed by the employees. Hence in total the number of responses (sample size) becomes 50. First analysis is done for Self-Competency and second is done for others ideal roles.

After the analysis we come to know that employees of Reliance Mutual Fund have awareness about Competency. They have specific skills, abilities, and knowledge etc. to perform their job efficiently and effectively. They faced challenges and accept changes but in a resistant manner so there should be well structured training schedule for their and company’s development.

On the other side all the roles (Cluster head, Banking head, Retail head, Operations head, Relationship Manager) should have different Competencies according to their specific role/task. Each of the specified roles should know his responsibilities and role to enhance the credibility and profitability of the company.

Hence, Competency mapping plays a vital role for the development of the employees as well as company.

CHAPTER I

Objectives

Limitations

Methodology

OBJECTIVES

The main aim of undertaking this study is to accomplish the following objective:

1. Proper understanding and analysis of the concept of Competency mapping.

2. Conducting an employees survey and understanding their competencies in Reliance Mutual Fund.

3. Understanding the importance of competencies for employees.

4. Applying 360-degree approach of Competency for self and the different ideal roles in company.

5. Understanding the benefits of 360-degree approach.

LIMITATIONS

Though the present study aimed to achieve the above-mentioned objectives in full earnest and accuracy, it was hampered due to certain limitations. Some of the limitations of this study may be summarized as follows:

Getting accurate responses from the respondents due to their inherent problems was difficult. They were partial, and refused to cooperate.

Very few people have knowledge about Competency mapping in a proper manner.

Sample size was limited as in Reliance Mutual Fund, Jaipur there are only 10 employees on roll. At the duration of my study company has launch NFO (New Fund Offer). So all the employees were busy in that.

METHODOLOGY

The objective of the present study can be accomplished by conducting a systematic

employees survey. Market Research is a systematic design, collection, analysis and

reporting of data and finding that are relevant to different market situation facing by the

company. The marketing research process that will be adopted in the present study

consist of the following stages:

Defining the problem and research objective:

The research objective state that what information is needed to solve the problem. Here

the objective of other research is awareness and Knowledge of competency and proper

mapping of the competency of the employees of Reliance Mutual Fund with the help of

360-degree approach.

Developing research plan:

Once the problem is defined, the next step is to prepare a plan for getting the information

needed for the research. The present study will adopt exploratory approach where in there

is a need to gather a large amount of information before making a conclusion if required.

The descriptive and casual approaches may also be used.

Collection and Sources of Data:

To collect the data, relevant information is necessary as regards to the project; as a result

using two ways collected data:

Primary Data

Secondary Data.

Primary Data:

In this the information is being possessed with first hand information, which is new and

fresh.

The tools used by us for the primary data are:

Questionnaire

Face-to-Face Interview

Observation

Secondary data:

The information that is received with the help of Journals, Magazines, Financial reports

or which is already present with the company.

References used from management books

Gathered information through World Wide Web (www).

Support and knowledge provided by Faculty and Company guide.

Sampling Plan:

Sampling unit: The employees of Reliance Mutual Fund in Jaipur city were limited so I

have done the study on 5 different roles in the company. So it became 50 respondents for

all the roles.

Sampling size: A survey has conducted for the employees of Reliance Mutual Fund.

The size was 10 employees at Jaipur branch.

Analyze the collected information:

This involves converting raw material in to useful information. It involves tabulation of

data and using statically measures on them for developing frequency distribution and

calculating the averages and dispersions.

Report research findings:

This phase will mark the culmination of the marketing research efforts. The report with

the research finding is a formal written document.

CHAPTER II

Industry Profile

HISTORY AND ORGANIZATION OF MUTUAL FUNDS IN INDIA

The mutual fund industry in India started in 1963 with the formation of Unit Trust of India, at the initiative of the Government of India and Reserve Bank the. The history of mutual funds in India can be broadly divided into four distinct phases-

First Phase – 1964-87:

An Act of Parliament established Unit Trust of India (UTI) on 1963. It was set up by the Reserve Bank of India and functioned under the Regulatory and administrative control of the Reserve Bank of India. In 1978 UTI was de-linked from the RBI and the Industrial Development Bank of India (IDBI) took over the regulatory and administrative control in place of RBI. The first scheme launched by UTI was Unit Scheme 1964. At the end of 1988 UTI had Rs.6,700 crores of assets under management.

Second Phase – 1987-1993 (Entry of Public Sector Funds):

1987 marked the entry of non- UTI, public sector mutual funds set up by public sector banks and Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC). SBI Mutual Fund was the first non- UTI Mutual Fund established in June 1987 followed by Can bank Mutual Fund (Dec 87), Punjab National Bank Mutual Fund (Aug 89), Indian Bank Mutual Fund (Nov 89), Bank of India (Jun 90), Bank of Baroda Mutual Fund (Oct 92). LIC established its mutual fund in June 1989 while GIC had set up its mutual fund in December 1990.At the end of 1993, the mutual fund industry had assets under management of Rs.47, 004 crores.

Third Phase – 1993-2003 (Entry of Private Sector Funds):

With the entry of private sector funds in 1993, a new era started in the Indian mutual fund industry, giving the Indian investors a wider choice of fund families. Also, 1993 was the year in which the first Mutual Fund Regulations came into being, under which all mutual funds, except UTI were to be registered and

governed. The erstwhile Kothari Pioneer (now merged with Franklin Templeton) was the first private sector mutual fund registered in July 1993.The 1993 SEBI (Mutual Fund) Regulations were substituted by a more comprehensive and revised Mutual Fund Regulations in 1996. The industry now functions under the SEBI (Mutual Fund) Regulations 1996.

The number of mutual fund houses went on increasing, with many foreign mutual funds setting up funds in India and also the industry has witnessed several mergers and acquisitions. As at the end of January 2003, there were 33 mutual funds with total assets of Rs. 1,21,805 crores. The Unit Trust of India with Rs.44, 541 crores of assets under management was way ahead of other mutual funds.

Fourth Phase – since February 2003:

In February 2003, following the repeal of the Unit Trust of India Act 1963 UTI was bifurcated into two separate entities. One is the Specified Undertaking of the Unit Trust of India with assets under management of Rs.29,835 crores as at the end of January 2003, representing broadly, the assets of US 64 scheme, assured return and certain other schemes. The Specified Undertaking of Unit Trust of India, functioning under an administrator and under the rules framed by Government of India and does not come under the purview of the Mutual Fund Regulations.

The second is the UTI Mutual Fund Ltd, sponsored by SBI, PNB, BOB and LIC. It is registered with SEBI and functions under the Mutual Fund Regulations. With the bifurcation of the erstwhile UTI which had in March 2000 more than Rs.76,000 crores of assets under management and with the setting up of a UTI Mutual Fund, conforming to the SEBI Mutual Fund Regulations, and with recent mergers taking place among different private sector funds, the mutual fund industry has entered its current phase of consolidation and growth. As at the end of September, 2004, there were 29 funds, which manage assets of Rs.153108 crores under 421 schemes.

The graph indicates the growth of assets over the years –

Graph 1: The graph showing Growth in assets under management through Mutual Funds

MUTUAL FUND COMPANIES IN INDIA

List of Some of the AMCs Operating in India

Name of the AMC Nature of ownership

Alliance Capital Asset Management (I) Private Limited Private Foreign

Birla Sun Life Asset Management Company Limited Private Indian

Bank of Baroda Asset Management Company Limited Banks

Bank of India Asset Management Company Limited Banks

Can bank Investment Management Services Limited Banks

Cholamandalam Cazenove Asset Management Company Limited

Private Foreign

Dundee Asset Management Company Limited Private Foreign

DSP Merrill Lynch Asset Management Company Limited

Private Foreign

Escorts Asset Management Limited Private Indian

First India Asset Management Limited Private Indian

GIC Asset Management Company Limited Institutions

IDBI Investment Management Company Limited Institutions

Indfund Management Limited Banks

ING Investment Asset Management Company Private Limited

Private Foreign

J M Capital Management Limited Private Indian

Jardine Fleming (I) Asset Management Limited Private Foreign

Kotak Mahindra Asset Management Company Limited Private Indian

Kothari Pioneer Asset Management Company Limited Private Indian

Jeevan Bima Sahayog Asset Management Company Limited

Institutions

Morgan Stanley Asset Management Company Private Limited

Private Foreign

Punjab National Bank Asset Management Company Limited

Banks

Reliance Capital Asset Management Company Limited Private Indian

State Bank of India Funds Management Limited Banks

Shriram Asset Management Company Limited Private Indian

Sun F and C Asset Management (I) Private Limited Private Foreign

Sundaram Newton Asset Management Company Limited

Private Foreign

Tata Asset Management Company Limited Private Indian

Credit Capital Asset Management Company Limited Private Indian

Templeton Asset Management (India) Private Limited Private Foreign

Unit Trust of India Institutions

Zurich Asset Management Company (I) Limited Private Foreign

RECENT TRENDS IN MUTUAL FUND INDUSTRY

The most important trend in the mutual fund industry is the aggressive expansion of

the foreign owned mutual fund companies and the decline of the companies floated by

nationalized banks and smaller private sector players.

Many nationalized banks got into the mutual fund business in the early nineties and

got off to a good start due to the stock market boom prevailing then. These banks did

not really understand the mutual fund business and they just viewed it as another kind

of banking activity. Few hired specialized staff and generally chose to transfer staff

from the parent organizations. The performance of most of the schemes floated by

these funds was not good. Some schemes had offered guaranteed returns and their

parent organizations had to bail out these AMCs by paying large amounts of money as

the difference between the guaranteed and actual returns. The service levels were also

very bad. Most of these AMCs have not been able to retain staff, float new schemes

etc. and it is doubtful whether, barring a few exceptions, they have serious plans of

continuing the activity in a major way.

The experience of some of the AMCs floated by private sector Indian companies was

also very similar. They quickly realized that the AMC business is a business, which

makes money in the long term and requires deep-pocketed support in the intermediate

years. Some have sold out to foreign owned companies, some have merged with

others and there is general restructuring going on.

The foreign owned companies have deep pockets and have come in here with the

expectation of a long haul. They can be credited with introducing many new practices

such as new product innovation, sharp improvement in service standards and

disclosure, usage of technology, broker education and support etc. In fact, they have

forced the industry to upgrade itself and service levels of organizations like UTI have

improved dramatically in the last few years in response to the competition provided by

these.

ASSOCIATION OF MUTUAL FUNDS IN INDIA (AMFI)

With the increase in mutual fund players in India, a need for mutual fund association

in India was generated to function as a non-profit organization. Association of Mutual

Funds in India (AMFI) was incorporated on 22nd August 1995.

AMFI is an apex body of all Asset Management Companies (AMC), which has been

registered with SEBI. Till date all the AMCs are that have launched mutual fund

schemes are its members. It functions under the supervision and guidelines of its

Board of Directors.

Association of Mutual Funds India has brought down the Indian Mutual Fund Industry

to a professional and healthy market with ethical lines enhancing and maintaining

standards. It follows the principle of both protecting and promoting the interests of

mutual funds as well as their unit holders.

The objectives of Association of Mutual Funds in India-

The Association of Mutual Funds of India works with 30 registered AMCs of the

country. It has certain defined objectives, which juxtaposes the guidelines of its Board

of Directors. The objectives are as follows:

This mutual fund association of India maintains high professional and ethical

standards in all areas of operation of the industry.

It also recommends and promotes the top class business practices and code of conduct

which is followed by members and related people engaged in the activities of mutual

fund and asset management. The agencies who are by any means connected or involved

in the field of capital markets and financial services also involved in this code of

conduct of the association.

AMFI interacts with SEBI and works according to SEBIs guidelines in the mutual

fund industry.

Association of Mutual Funds of India do represent the Government of India, the

Reserve Bank of India and other related bodies on matters relating to the Mutual Fund

Industry.

It develops a team of well-qualified and trained Agent distributors. It implements a

programme of training and certification for all intermediaries and other engaged in the

mutual fund industry.

AMFI undertakes all India awareness programme for investors in order to promote

proper understanding of the concept and working of mutual funds.

At last but not the least association of mutual fund of India also disseminate

information’s on Mutual Fund Industry and undertakes studies and research either

directly or in association with other bodies.

The Sponsors of Association of Mutual Funds in India –

Bank Sponsored:

SBI Fund Management Ltd.

BOB Asset Management Co. Ltd.

Can bank Investment Management Services Ltd.

UTI Asset Management Company Pvt. Ltd.

Institutions:

GIC Asset Management Co. Ltd.

Jeevan Bima Sahayog Asset Management Co. Ltd.

Private Sector

Indian:

Benchmark Asset Management Co. Pvt. Ltd.

Cholamandalam Asset Management Co. Ltd.

Credit Capital Asset Management Co. Ltd.

Escorts Asset Management Ltd.

JM Financial Mutual Fund

Kotak Mahindra Asset Management Co. Ltd.

Reliance Capital Asset Management Ltd.

Sahara Asset Management Co. Pvt. Ltd

Sundaram Asset Management Company Ltd.

Tata Asset Management Private Ltd.

Predominantly India Joint Ventures:

Birla Sun Life Asset Management Co. Ltd.

DSP Merrill Lynch Fund Managers Limited

HDFC Asset Management Company Ltd.

Predominantly Foreign Joint Ventures:

ABN AMRO Asset Management (I) Ltd.

Alliance Capital Asset Management (India) Pvt. Ltd.

Deutsche Asset Management (India) Pvt. Ltd.

Fidelity Fund Management Private Limited

Franklin Templeton Asset Mgmt. (India) Pvt. Ltd.

HSBC Asset Management (India) Private Ltd.

ING Investment Management (India) Pvt. Ltd.

Morgan Stanley Investment Management Pvt. Ltd.

Principal Asset Management Co. Pvt. Ltd.

Prudential ICICI Asset Management Co. Ltd.

Standard Chartered Asset Mgmt Co. Pvt. Ltd.

Association of Mutual Funds in India Publications

AMFI publishes mainly two types of bulletin. One is on the monthly basis and the other

is quarterly. These publications are of great support for the investors to get intimation of

the know-how of their parked money.

CHAPTER III

COMPANY PROFILE

RELIANCE GROUP -

Reliance Group founded by Dhirubhai H. Ambani (1932-2002) is India's largest business house with total revenues of over Rs 99,000 crore (US$ 22.6 The billion), cash profit of Rs 12,500 crore (US$ 2.8 billion), net profit of Rs 6,200 crore (US$ 1.4 billion) and exports of Rs 15,900 crore (US$ 3.6 billion).

The Group's activities span exploration and production (E&P) of oil and gas, refining and marketing, petrochemicals (polyester, polymers, and intermediates), textiles, financial services and insurance, power, telecom and infocom initiatives. The Group exports its products to more than 100 countries the world over. Reliance emerged as India's Most Admired Business House, for the third successive year in a TNS Mode survey for 2003.

Reliance Group revenue is equivalent to about 3.5% of India's GDP. The Group contributes nearly 10% of the country's indirect tax revenues and over 6% of India's exports. Reliance is trusted by an investor family of over 3.1 million - India's largest.

Reliance Capital Asset Management Ltd .

Reliance Capital Asset Management Ltd. is a wholly owned subsidiary of Reliance Capital Limited, the sponsor. Reliance Capital Ltd. holds the entire paid-up capital (100%) of Reliance Capital Asset Management Ltd. Reliance Industries Ltd. has promoted reliance Mutual Fund (RMF) has been sponsored by Reliance Capital Ltd., one of India's largest private sector enterprises. Reliance Industries Ltd. has a net worth of Rs.34, 452 crores as on March31, 2004 and currently has a large family of shareholders. Reliance Capital limited is a Non Banking Finance Company engaged in leasing, investment and other fund based activities. The net worth of Reliance Capital Ltd. is Rs. 1,399.81 crores as on March 31, 2004. Reliance Capital Ltd. has contributed Rupees One Lac as the initial contribution to the corpus for the setting up of the Mutual Fund. Reliance Capital Ltd. is responsible for discharging its functions and responsibilities towards the Fund in accordance with the Securities and Exchange Board of India (SEBI) Regulations.

The Sponsor is not responsible or liable for any loss resulting from the operation of the Scheme beyond the contribution of an amount of Rupees one Lac made by them towards the initial corpus for setting up the Fund and such other accretions and additions to the corpus. Reliance Capital Asset Management Ltd. (RCAM), a company registered under the Companies Act, 1956 was appointed to act as the Investment Manager of Reliance Capital Mutual Fund. It is a wholly owned subsidiary of Reliance Capital Ltd.

Reliance Capital Asset Management Ltd. was approved as the Asset Management Company for the Mutual Fund by SEBI vide letter no IIMARP/265/95 dated February 1, 1995. The Mutual Fund has entered into an Investment Management Agreement (IMA) with RCAM dated May 12, 1995 and was amended on August 12, 1997 in line with SEBI (Mutual Funds) Regulations, 1996. Pursuant to this IMA, RCAM will act as Investment Manager of the Mutual Fund. The net worth of the Asset Management Company as on 30th June 2005 is Rs. 9907.89 crores.

About Reliance Mutual Fund

Reliance Mutual Fund (RMF) has been established as a trust under the Indian Trusts Act, 1882 with Reliance Capital Limited (RCL), as the Settlor/Sponsor and Reliance Capital Trustee Co. Limited (RCTCL), as the Trustee.RMF has been registered with the Securities & Exchange Board of India (SEBI) vide registration number MF/022/95/1 dated June 30, 1995. The name of Reliance Capital Mutual Fund has been changed to Reliance Mutual Fund effective 11th. March 2004 vide SEBI's letter no. IMD/PSP/4958/2004 date 11th. March 2004. Reliance Mutual Fund was formed to launch various schemes under which units are issued to the Public with a view to contribute to the capital market and to provide investors the opportunities to make investments in diversified securities.

The main objectives of the Trust are:

To carry on the activity of a Mutual Fund as may be permitted at law and formulate and devise various collective Schemes of savings and investments for people in India and abroad and also ensure liquidity of investments for the Unit holders;

To deploy Funds thus raised so as to help the Unit holders earn reasonable returns on their savings and

To take such steps as may be necessary from time to time to realize the effects without any limitation.

The Sponsors

Reliance Capital Limited

Registered Office

Reliance Capital Ltd, Village Meghpar, Padana Taluka Lalpur, District Jamnagar -

361280 - Gujarat.

Corporate Office

Reliance Capital Ltd. Old ICI Godown, Fosbery Road, Off Reay Road Station

(East), Mumbai - 400033.

Reliance Mutual Fund (Jaipur Branch)

1. Mr. Ashish Purohit (Area Manager)

2. Mr. Sanjeev Verma (Cluster Head)

3. Mr. Tabish Mehmood (Banking Head)

4. Mr. Hitesh Gupta (Operations Head)

5. Mr. Alok Shrivastav (Retail Head)

6. Ms. Mansi Kaushik (Relationship Manager)

7. Mr. Rajkumar (Relationship Manager)

8. Mr. Zoheb (Relationship Manager)

9. Mr. Vijit (Relationship Manager)

10.Mr. Imram (Back Office Operations)

11.Ms. Komal Arora (Back Office Operations)

PRODUCTS AND SERVICES OF RELIANCE MUTUAL FUND

Equity Schemes

Reliance Equity Fund

(An open-ended diversified Equity Scheme.) The primary investment objective of the

scheme is to seek to generate capital appreciation & provide long-term growth

opportunities by investing in a portfolio constituted of equity & equity related

securities of top 100 companies by market capitalization & of companies which are

available in the derivatives segment from time to time and the secondary objective is

to generate consistent returns by investing in debt and money market securities.

Reliance Tax Saver (ELSS) Fund

(An Open-ended Equity Linked Savings Scheme.) The primary objective of the

scheme is to generate long-term capital appreciation from a portfolio that is invested

predominantly in equity and equity related instruments.

Reliance Equity Opportunities Fund

(An Open-Ended Diversified Equity Scheme.) The primary investment objective of

the scheme is to seek to generate capital appreciation & provide long-term growth

opportunities by investing in a portfolio constituted of equity securities & equity

related securities and the secondary objective is to generate consistent returns by

investing in debt and money market securities.

Reliance Vision Fund

(An Open-ended Equity Growth Scheme.) The primary investment objective of the

Scheme is to achieve long-term growth of capital by investment in equity and equity

related securities through a research based investment approach.

Reliance Growth Fund

(An Open-ended Equity Growth Scheme.) The primary investment objective of the

Scheme is to achieve long-term growth of capital by investment in equity and equity

related securities through a research based investment approach.

Reliance Index Fund

(An Open Ended Index Linked Scheme.) The Investment Objective under the Nifty

Plan is to replicate the composition of the Nifty, with a view to endeavor to generate

returns, which could approximately be the same as that of Nifty. The Investment

Objective under the Sensex plan is to replicate the composition of the Sensex, with a

view to endeavor to generate returns, which could approximately be the same as that

of Sensex.

Reliance NRI Equity Fund

(An open-ended Diversified Equity Scheme.) The Primary investment objective of

the scheme is to generate optimal returns by investing in equity or equity related

instruments primarily drawn from the Companies in the BSE 200 Index.

Debt Schemes :

Reliance Monthly Income Plan

(An Open Ended Fund. Monthly Income is not assured & is subject to the availability

of distributable surplus) The Primary investment objective of the Scheme is to

generate regular income in order to make regular dividend payments to unit holders

and the secondary objective is growth of capital. Primarily the investment shall be

made in debt and money market securities (i.e. 80%) with a small exposure (i.e. up to

20%) in equity.

Reliance Gilt Securities Fund - Short Term Gilt Plan & Long Term Gilt Plan

Open-ended Government Securities Scheme) The primary objective of the Scheme is

to generate Optimal credit risk-free returns by investing in a portfolio of securities

issued and guaranteed by the central Government and State Government.

Reliance Income Fund

(An Open-ended Income Scheme) The primary objective of the scheme is to generate

optimal returns consistent with moderate levels of risk. This income may be

complemented by capital appreciation of the portfolio. Accordingly, investments

shall predominantly be made in Debt & Money Instruments.

Reliance Medium Term Fund

(An Open End Income Scheme with no assured returns.) The primary investment

objective of the Scheme is to generate regular income in order to make regular

dividend payments to unit holders and the secondary objective is growth of capital.

Reliance Short Term Fund

(An Open End Income Scheme) The primary investment objective of the scheme is to

generate stable returns for investors with a short investment horizon by investing in

Fixed Income Securities of short-term maturity.

Reliance Liquid Fund

(Open-ended Liquid Scheme). The primary investment objective of the Scheme is to

generate optimal returns consistent with moderate levels of risk and high liquidity.

Accordingly, investments shall predominantly be made in Debt and Money Market

Instruments.

Reliance Fixed Term Scheme

(Close-ended Income Scheme) The primary objective of the Scheme is to seek to

achieve regular returns / growth of capital by investing in a portfolio of fixed income

securities normally maturing in line with the time profile of the plan with the

objective of limiting interest rate volatility.

Reliance Floating Rate Fund

(An Open End Income Scheme) The primary objective of the scheme is to generate

regular income through investment in a portfolio comprising substantially of Floating

Rate Debt Securities (including floating rate securitized debt and Money Market

Instruments and Fixed Rate Debt Instruments swapped for floating rate returns). The

scheme shall also invest in Fixed rate debt Securities (including fixed rate securitized

debt, Money Market Instruments and Floating Rate Debt Instruments swapped for

fixed returns.

Reliance NRI Income Fund

(An Open-ended Income scheme) The primary investment objective of the Scheme is

to generate optimal returns consistent with moderate levels of risks. This income may

be complimented by capital appreciation of the portfolio. Accordingly, investments

shall predominantly be made in debt Instruments.

Reliance Liquidity Fund

(An Open - ended Liquid Scheme) The investment objective of the Scheme is to

generate optimal returns consistent with moderate levels of risk and high liquidity.

Accordingly, investments shall predominantly be made in Debt and Money Market

Instruments.

Reliance Regular Savings Fund

(An Open - ended scheme)

The Investment Objectives:

Debt Option: The primary investment objective of this plan is to generate optimal

returns consistent with moderate level of risk. This income may be complemented by

capital appreciation of the portfolio. Accordingly investments shall predominantly be

made in Debt & Money Market Instruments.

Equity Option: The primary investment objective is to seek capital appreciation and

or consistent returns by actively investing in equity / equity related securities.

Hybrid Option: The primary investment objective is to generate consistent return by

investing a major portion in debt & money market securities and a small portion in

equity & equity related instruments.

Sector Specific Schemes:

Sector Funds are specialty funds that invest in stocks falling into a certain sector of

the economy. Here the portfolio is dispersed or spread across the stocks in that

particular sector. This type of scheme is ideal for investors who have already made up

their mind to confine risk and return to a particular sector.

Reliance Banking Fund

Reliance Mutual Fund has an Open-Ended Banking Sector Scheme which has the

primary investment objective to generate continuous returns by actively investing in

equity / equity related or fixed income securities of banks.

Reliance Diversified Power Sector Fund

Reliance Diversified Power Sector Scheme is an Open-ended Power Sector Scheme.

The primary investment objective of the Scheme is to seek to generate consistent

returns by actively investing in equity / equity related or fixed income securities of

Power and other associated companies.

Reliance Pharma Fund

Reliance Pharma Fund is an Open-ended Pharma Sector Scheme.

The primary investment objective of the Scheme is to generate consistent returns by

investing in equity / equity related or fixed income securities of Pharma and other

associated companies.

Reliance Media & Entertainment Fund

Reliance Media & Entertainment Fund is an Open-ended Media & Entertainment

sector scheme. The primary investment objective of the Scheme is to generate

consistent returns by investing in equity / equity related or fixed income securities of

media & entertainment and other associated companies.

Reliance Equity Advantage Fund (New Fund Offer)

Reliance has recently launched NFO that is Reliance Equity Advantage Fund. It is an

Open-ended fund with SIP system. It is equity-diversified fund, which will track the

Nifty CNX.

CHAPTER IV

SWOT Analysis

STRENGTHS

Reliance Mutual Fund, a part of the –Anil Dhirubhai Ambani Group (R-

ADAG) is one of the fastest growing mutual fund company in the country.

Reliance mutual fund offers investors a well –rounded portfolio of products

to meet varying investor requirements.

Reliance mutual fund has a presence over 80 cities across the country.

A fund from Reliance mutual fund, an AMC with a proven track record of

consistent return.

Strong and consistent fund management team.

Investor –friendly personal and technological support.

Ensures better costumer services, conveniences, and communication by efficient network.

Quality product & services – High quality standard maintained.

Brand Name – ‘Reliance Mutual Fund ’ is popular brand name among

customers.

Good image between customers.

Any Time Money Card (ATM Card) for all investors.

WEAKNESS

Less existence in rural area.

Less expenditure on advertising and promotional schemes.

Lack of Educational program for advisors and investors.

OPPORTUNITIES

Jaipur is a big industrial area so there is a huge opportunities.

Reliance mutual fund has a very good quality products &schemes

comparison to other competitor.

Reliance is first company, which launched Equity fund with hedging feature,

which aim to minimize risk.

Good perception among the customer.

Rural Market.

Bank and Post office customers.

THREATS

All competitors of Mutual fund. Insurance Sector Bank Schemes Real Estate Uncertain Market

CHAPTER V

Competency Mapping

Analysis and Interpretation of Data

CONCEPT & DEFFINATION OF COMPETENCY

“Superfluity comes sooner by white hairs, but competency lives

longer.”

— William Shakespeare

This is Competency era and a significant shift towards Competency Based Organization has been observed. People and their competencies have become the most significant factors that give a competitive edge to any corporation. HR Professionals and Line Managers can contribute a great deal to develop competency-based organizations.

Any underlying characteristic required for performing a given task, activity or role successfully can be considered as competency. Competency may take the following forms:

KnowledgeAttitudeSkillOther characteristics of an individual including –

Motives Values

Traits

Self Concept etc.

Definition of Competency – “A competency is the capability to apply or use a set of related knowledge, skills, and abilities required to successfully perform "critical work functions" or tasks in a defined work setting. Competencies often serve as the basis for skill standards that specify the level of knowledge, skills, and abilities required for success in the workplace as well as potential measurement criteria for assessing competency attainment”.

“Competencies include the collection of success factors necessary for achieving important results in a specific job or work role in a particular organization”

In every job, some people perform more effectively than others. Superior performers do their jobs differently and possess different characteristics, or "competencies", than average performers do. And the best way to identify the characteristics that predict superior performance is to study the top performers.

Competencies may be grouped in to various areas. In a classic article published a few decades ago in Harvard Business Review, Daniel Katz grouped those under three areas, which were later expanded by Indian Management professors in to the following four:

* Technical: dealing with the technology or know how associated with the function, role, task (Also now referred by some as Functional)

* Managerial/Organizational: dealing with the managerial aspects, organizing, planning, mobilizing resources, monitoring, systems use etc.

* Human/Behavioral including personal, interpersonal, team related and

* Conceptual/Theoretical including visualizations, model building etc.

This is a convenience classification and a given competency may fall into one or more areas and may include more than one from. A competency dictionary of a firm gives detailed descriptions of the competency language used by that firm. It contains detailed explanations of the combinations of competencies (technical, managerial, human and conceptual knowledge, attitudes and skills) using their own language. For example Teamwork or Team Management competency can be defined in terms of organization specific and level specific behaviors for a given origination. At top levels it might mean in the case of one organization ability identify utilize and

synergize the contributions of a project team and at another level it might mean ability to inspire and carry along the top management team including diversity management. It is put here in much more simplistic way while in competency mapping all details of the behaviors (observable, specific, measurable etc.) to be shown by the person occupying that role are specified.

Types of Competencies-

1. Personal Functioning Competencies - These competencies include broad success factors not tied to a specific work function or industry (often focusing on leadership or emotional intelligence behaviors).2. Functional/Technical Competencies - These competencies include specific success factors within a given work function or industry.

LEVELS OF COMPETENCIES

There are three levels of competencies –

Core Competencies- These applies to the organization as a whole. They refer to

what the organization has to be good at doing if it is to succeed. This includes such

as customer satisfaction, producing and delivering high quality goods, innovation,

managing costs etc.

Generic Competencies- These are shared by group of similar jobs- financial

accountants, systems analysts, team leaders etc. They cover the aspects of the work

that they have in common and define the shared capabilities required to deliver the

results they are expected to achieve.

Role - Specific Competencies - These are unique to a particular role. They define

special task that they have to do, in addition to any generic competencies they may

share with other people carrying out broadly similar roles.

Identification of Role Competencies

1.1.Structure and list of roles-Structure and list of roles-

Organizational structure study and examinationOrganizational structure study and examinationList all the roles in the structureList all the roles in the structureIdentify redundant and overlapping rolesIdentify redundant and overlapping rolesFinal list of rolesFinal list of roles

2. 2. Definition of roles-Definition of roles-

Identify KPAs of the role Identify KPAs of the role Link the KPAs with Dept. and Organizational goals Link the KPAs with Dept. and Organizational goals State the content of the above in one or two sentences State the content of the above in one or two sentences Position the role in perspective with that of others Position the role in perspective with that of others

3. 3. Job description-Job description-

List down all the activities/tasks List down all the activities/tasks • • Small and bigSmall and big • • Routine and CreativeRoutine and Creative

Categorize activities under major heads Categorize activities under major heads3.3. Competency requirement-Competency requirement-

Identify against each activity the following:Identify against each activity the following: Role holder interview and listingRole holder interview and listing Internal/External customer interview and listingInternal/External customer interview and listing Star performer interview and listingStar performer interview and listing Role holder critical incident analysisRole holder critical incident analysis

Consolidate the above and make a checklist of competenciesConsolidate the above and make a checklist of competenciesRank- order and finalize on 5/6 competencies critical to the roleRank- order and finalize on 5/6 competencies critical to the role

Importance of Competencies for the individual

employees

A list of compelling reasons includes, at a minimum, the following. An individual:

1.Gains a clearer sense of true marketability in today’s job market; once the individual knows how his/her competencies compare to those that are asked for by the job market in key positions of interest.

2. Projects an appearance as a “cutting-edge” and well-prepared candidate, who has taken the time to learn about competencies, investigate those in demand, and map his/her own competencies prior to interviewing.

3. Demonstrates self-confidence that comes from knowing one’s competitive advantages more convincingly, and from being able to articulate those advantages in specific area.

4. Secures essential input to resume development - a set of important terms to use in describing expertise derived from prior career experience.

5. Gains advanced preparation for interviews, many of which may be delivered using a competency-based approach called “structured behavioral interviewing” or “behavioral event interviewing.”

6. Develops the capability to compare one’s actual competencies to an organization or position’s required/preferred competencies, in order to create an Individual Development Plan.

COMPETENCY DEVELOPMENT TABLECOMPETENCY DEVELOPMENT TABLE Role Role Identified Identified

competenciescompetenciesAssessment Assessment resultresult

Areas of Areas of improvementimprovement Action planAction plan

COMPETENCY MAPPING

Definition- “Competency mapping is a process an individual uses to identify and describe competencies that are the most critical to success in a work situation or work role.”

With changing business scenario and new challenges emerging in the competitive world, successful performance in any job/task has taken a critical place, for organizational success. Competency mapping is one such process that helps in identifying and mapping competencies required for successful performance in a particular role. Competency mapping and assessment has gained paramount importance in organizations, for keeping people development strategies and processes in sync with organizational growth & objectives and maximizing the utilization of human potential.

Creating competency based culture and systems in organizations are the need of the hour. This creates a demand for HR professionals to have specialized skills and have a continuous up-gradation of knowledge.

Competency-based performance management processes are becoming more prevalent in many organizations, but they are particularly appropriate for organizations where there are:

Uncertain environments

Qualitative/process service jobs

Self-managed teams

Developmental jobs

Changing organizations

If your HR person does not have competencies to competency mapping, then get

him or her to acquire on an emergency basis and build a competency-based

organization. The future success of Organizations and people depends on how

competent they are- Obvious. There is no alternative to competency mapping.

Competency mapping can play a significant role in recruiting and retaining people

as it gives a more accurate analysis of the job requirements, the candidate's

capability, of the difference between the two, and the development and training

needs to bridge the gaps.

Required Competencies for Competency mapping

Competency mapping is a task, which can be done by many people. Now a days, all Management schools, and definitely those specializing in HR, train students in competency mapping. Recently, when the author taught a course on Management of Talent at the Indian School of Business, with two hours of introduction to the process of competency mapping, the students (all with experience of more than two years) have done a great job of competency mapping for a set of roles.

The person who facilitates competency mapping should have the following competencies-

Should have some familiarity with competencies and the nature of competencies. This includes knowledge of the terms used commonly in competency identifications (sociability, activity level, monitoring ability, resource mobilization, vision, communication skills, analytical skills, planning, organizing, team building, imitative, strategic thinker etc.) and meaning of most common terms.

Should know the meaning of knowledge (awareness, information), Attitude (predispo-sition) and skill (demonstrable ability to perform a particular task or activity with a predestinated level of proficiency- speed, accuracy, quality etc).

Should be able to differentiate knowledge, attitude, and skills. Ability to differentiate motives, values, self-concept and traits is an additional competence.

Should be bale to differentiate a task from an activity. Should be able to list a set of activities and tasks for a given role with

the help of a role holder (a person who is currently doing a the given job).

Should able to classify a given competence (knowledge, attitude and skill) into technological arena, managerial arena, behavioral arena and conceptual arena.

Should have interviewing and probing skills. Should be able to document and communicate to others through

documentation (ability to communicate using precise language, and provide explanations wherever necessary)

Should be familiar with the nature of business done by the firm, its products, markets, processes etc. or at least would be able to understand and grasp the basics of technology and processes used by the firm. This can be developed through a quick induction program by the firm.

Any Masters in Management or Social Sciences or an Employee with equivalent

experience and Training can develop these competencies. Conceptual background

and understanding of the business is important. Familiarity with Business,

Organizations, Management and Behavioral Sciences is useful. HR Managers,

Management Graduates, Applied Psychologists are quite qualified to do this.

Tools/methods for Competency mapping

There are following methods to assess competencies-

Assessment/Development CenterAssessment/Development Center360 Degree feedback360 Degree feedbackRole-playsRole-playsCase studyCase studyStructured ExperiencesStructured ExperiencesSimulationsSimulationsBusiness GamesBusiness Games

360-degree approach360-degree approach::

1.1. SelfSelf2.2. OthersOthers

Internal/External CustomersInternal/External CustomersBoss/peers/Subordinate

Introduction to 360-degree approach in competency

mapping

360 Degree Feedback is a Multi- Rater Feedback System. Almost every Fortune

500 Company is using this in some form or the other. In this system the candidate

is assessed by a number of assessors including his boss, direct reports

(subordinates), colleagues, internal customers and some times external customers.

They all are describe below-

Boss- Functional and administrative (reporting and reviewing officers). You may

also choose other seniors with whom you have some kind of reporting relationship.

Peers- Colleagues from other departments or your own with whom you have a

working relationship, and are at the same grade or level you are at.

Subordinates- Direct repartees those whom you are directly supervising.

Other internal customers: Employees from other departments to whom you provide your services or use their services and interact frequently.

External customers: Suppliers/business associates etc. with whom you often interact and are likely to find their feedback useful for development.

The assessment is made on a questionnaire specially designed to measure leadership styles, managerial qualities, impact and other behaviors considered critical for performance. Such feedback from multiple sources provides a credible picture and can be used for various purposes like:

Providing insights into the strengths and developmental areas of the

candidate in terms of the effective performance of roles, activities, styles,

traits, qualities, competencies (knowledge, attitudes and skills), impact on

others etc.

Enhancing role clarity and establishing increased accountabilities.

Identification of developmental needs and preparing development plans

more objectively in relation to the current or future roles and performance

improvements for an individual or a group of individuals.

Leadership Development.

Generating data for various personnel decisions (provided it is decided

initially that the feedback is not meant only for the person but also to be

shared completely with the organization).

Culture building and reinforcing other change management efforts and

organization effectiveness directed interventions. This may include: TQM

efforts, Customer focus or internal customer satisfaction enhancing

interventions, Flat structures, Quality enhancing and cost reducing

interventions, process changes etc.

Aligning individual and group goals with organizational vision, values and

goals.

Planning internal customer satisfaction improvement measures.

Benefits of 360-degree approach in Competency

mapping

It provides a more objective and acceptable feedback.

Very effective for developing leadership and other competencies

considered critical for performing various Leadership and Managerial

roles effectively.

Serves as a team-building tool as it is more involving and participative.

Promotes a culture of openness.

Promotes total quality with emphasis on internal and external customer

orientation.

Results in better quality of HR decisions for training and rewards.

Helps in identification of competency gaps and planning development

interventions.

Analysis of Competency Mapping in Reliance Mutual Fund

In Reliance Mutual Fund, Jaipur, there are total number of employees are 10. They all belong to different job/task. There are five major roles performed by the employees. The roles are-

1. Cluster Head

2. Banking Head

3. Retail Head

4. Operations Head

5. Relationship Manager

The analysis is done through the 360-degree approach of Competency Mapping for each of the above roles. Hence in total the number of responses (sample size) becomes 50. First analysis is done for Self-Competency and second is done for others ideal roles.

Analysis for Self-Competency

1. Awareness about Competency in Reliance Mutual Fund –

a) Yes – 10 b) No – 0

Interpretation- Above graph depicts that 100% employees have awareness about Competency. It is a good sign for company and its profitability.

2. Any exclusively specific skills, which have benefited the company- a) Strongly Yes- 4 b) Moderately Yes- 5 c) Strongly No- 1 d) Moderately No- 0

Interpretation- The above graph depicts that 40% employees were strongly agree that their specific skills have benefited the company, 50% employees we moderately agree and rest 10% employees were disagreeing with the statement.

3.The attitude/qualities highlighted by the work of the employees– (Open-ended)

Interpretation- It was an open-ended question so the common response, which I have got, was all the employees have positive attitude towards their work. This type of attitude help them to build good relations among them and customers, sound knowledge of market, managerial skills, dedication towards their work, decision making power etc.

4.Initiatives, which can help to enhance the knowledge of work of the employees-a) Study the work related task.b) Taking help of peers and supervisors. c) Taking information through newspapers and journals.d) Do not take any initiative.

i) Only a - 3 ii) Only d – 1 iii) Only b - 1 iv) All 3 - 5

Interpretation- The above pie chart depicts that 50% employees take all the initiatives, 30% employees only study the work related task, 10% employees take only one initiative of the help of peers and supervisors and rest 10% employees do not take any initiative.

5. Do employees easily accept the changes in their work –

a) Strongly Yes- 4 b) Moderately Yes- 6 c) Strongly No- 0 d) Moderately No- 0

Interpretation- Above bar graph depicts that 40% employees were strongly agree and rest 60% employees were moderately agree that they easily accept the changes. It means employees are resistant in accept the changes.

6.Some specific changes faced by the employees of Reliance Mutual fund-(Open-ended)

Interpretation- This was an open-ended question so the common response I have got was that each employee have faced one or another changes like- coordination with new employee, frequently changes in work profile, process initiatives, multitasking BPMS implementation etc.

7. Different Competencies, which can help the employees-

a) Knowledge of basic accounting principals and procedures.b) Ability to read understands and follows written directions.c) Facilitation skills- ability to focus and direct group discussion.d) Decision making skills- ability to weigh options foresees consequences of decisions.

i) Only b - 2 ii) Only c – 1 iii) Only d - 3 iv) All 4 - 4

Interpretation- The above pie chart depicts that 40% employees have all the four competencies, 30% employees have only decision-making power, 20% employees have only ability to follow written directions and rest 10% employees have only facilitation skills.

8. Importance of critical incidence in success/failure of employees-


Interpretation- The above graph depicts that 30% employees were strongly agree that critical incidence helps in success/failure, 30% were moderately agree, 20% employees were strongly disagree and rest 20% employees said moderately no for the condition.

9. Some critical incidence faced by the employees of Reliance Mutual fund- (Open-ended)

Interpretation- This was an open-ended question so 2 responses I have got were-

One of the employee have faced an incidence that was- discrepancy in 6 Cr. Rs. Application by one of the banker, he got it certified by coordinating with Mumbai Team (HQ)

One of the employee has build strong relationship with all the channel partners, which intern help him for his success.

10.Challenges faced by the employees in their job-


Interpretation- The above bar graph depicts that 60% employees have faced challenges in their job, 20% employees have faced but not in a that much of extend and rest 20% employees were not faced any challenges.

11.Reporting relationship of the employees-

Interpretation- All the employees report their Area Manager/Cluster Head. So there is not communication gap and flow of information is smooth.

Analysis for 5 Ideal Roles of Reliance Mutual Fund

Analysis for Cluster Head

1. Awareness about Competency in Cluster head of Reliance Mutual Fund –

a) Yes – 10 b) No – 0

Interpretation- Above graph depicts that 100% employees said that cluster head has awareness about Competency. So that he can handle his team effectively.

2.Any exclusively specific skills, which should benefit the company- a) Strongly Yes- 10 b) Moderately Yes- 0 c) Strongly No- 0 d) Moderately No- 0

Interpretation- The above graph depicts that 100% employees were strongly agree that cluster head should possess some specific skills which will benefit the company.

3.The attitude/qualities highlighted by the work of the Cluster Head – (Open-ended)

Interpretation- It is an open-ended question so the common response which I have got was cluster head should have sound knowledge of market, he must possess managerial skills, expertise in relationship building, handle employees grievances in a proper manner, leadership skills should be there in cluster head.

4. Initiatives, which should help to enhance the knowledge of work of the cluster head-a) Study the work related task.b) Taking help of peers and supervisors. c) Taking information through newspapers and journals.d) Do not take any initiative.

i) Only a - 1 ii) Only d – 0 iii) a and c- 6 iv) All 3 - 3

Initiatives for enhance knowledge

10%

0%

60%

30% Only a

Only d

a and c

All 3

Interpretation- The above pie chart depicts that 60% employees said that cluster head should take both the initiatives as shown in option a and c, 30% employees said that he should take all the initiatives, 10% employees think that cluster head only study the work related task.

1. Should cluster head easily accept the changes in his work –


Acceptance of Changes

02468

10

Response

No.

of e

mpl

oyee

s

Series1

Interpretation- Above bar graph depicts that 80% employees were strongly agree that cluster head should easily accept the changes and 20% employees were moderately agree with this.

2. Different Competencies which should help the cluster head-

a. Knowledge of basic accounting principals and procedures.b. Ability to read understands and follows written directions.c. Facilitation skills- ability to focus and direct group discussion.d. Decision making skills- ability to weigh options foresee consequences of decisions.

i) Only a - 0 ii) c and d – 2 iii) b, c, d - 6 iv) All 4 - 2

Different Competencies

0% 20%

60%

20%Only a

c and db,c,d

All 4

Interpretation- The above pie chart depicts that 60% employees said that cluster head should have all the 3 competencies (b, c, d), 20% employees said that he should have only 2 (c, d) and rest 20% employees said he should have all the 4 competencies.

3. Role of Cluster Head- (Open-ended)

Interpretation- This is an open ended question so the common response for this was the role of the cluster head should create cult and tempo within the team of the entire cluster, to manage people with motivation and training, to take care of whole Rajasthan region.

4. Specific responsibilities of Cluster Head- (Open-ended)

Interpretation- The common response was that cluster head should maintain good relation and chain between the sales team and upper management, he should mentor the sales team towards the achievement of group goals, and he should resolve all the problems and disputes of the employees in a proper manner.

Analysis for Banking Head

1. Awareness about Competency in Banking Head of Reliance Mutual Fund –

a) Yes – 10 b) No – 0

Interpretation- Above graph depicts that 100% employees said that Banking head has awareness about Competency. So that he can handle his team effectively.


Interpretation- The above graph depicts that 70% employees were strongly agree

and 30% were moderately agree that Banking head should possess some specific

skills, which will benefit the company.

3.The attitude/qualities highlighted by the work of the Banking Head –(open-ended)

Interpretation- It is an open-ended question so the common response, which I have got, was Banking head should have Decision making power, product knowledge, Relationship building, good communication skills etc.

4.Initiatives, which should help to enhance the knowledge of work of the Banking Head-

a. Study the work related task.b. Taking help of peers and supervisors. c. Taking information through newspapers and journals.d. Do not take any initiative.

i) Only a - 2 ii) Only d – 0

iii) a and c- 3 iv) All 3 - 5

Interpretation- The above pie chart depicts that 30% employees said that Banking head should take both the initiatives as shown in option a and c, 50% employees said that he should take all the initiatives, 20% employees think that Banking head only study the work related task.

5.Should Banking head easily accept the changes in his work?

a) Strongly Yes-6 b) Moderately Yes- 4 c) Strongly No- 0 d) Moderately No- 0

Interpretation- Above bar graph depicts that 60% employees are strongly agree that Banking head should easily accept the changes and 40% employees are moderately agree with this.

6. Different Competencies, which should help the Banking head-


i) Only d - 6 ii) c and d – 0 iii) b, c, d - 3 iv) All 4 – 1

Interpretation- The above pie chart depicts that 30% employees said that Banking head should have all the 3 competencies (b, c, d), 60% employees said that he should have only one (d) and rest 10% employees said he should have all the 4 competencies.

7. Role of Banking Head- (Open-ended)

Interpretation- This is an open-ended question so the common response for this was the role of the Banking head should be specifically depending on banks. He has to look after all the banking channels and maintain good relations with the banks with appropriate knowledge.

8.Specific responsibilities of Banking Head- (Open-ended)

Interpretation- The common response was that Banking head should maintain

good relation and chain between banks and company. He has to generate all the

business from the banking channels.

Analysis for Retail Head

1.Awareness about Competency in Retail head of Reliance Mutual Fund –

a) Yes – 10 b) No – 0

Interpretation- Above graph depicts that 100% employees said that Retail head has awareness about Competency. So that he can handle his team effectively.


Interpretation- The above graph depicts that 80% employees were strongly agree and 20% were moderately agree that Retail head should possess some specific skills, which will benefit the company.

3.The attitude/qualities highlighted by the work of the Retail Head –(Open-ended)

Interpretation- It is an open-ended question so the common response which I have got was Retail head should have friendly and empathetic behavior with all the distributors, strong communication skills, sound product knowledge, expert in maintaining good relations with the distributors.

4.Initiatives, which should help to enhance the knowledge of work of the Retail head-a) Study the work related task.b) Taking help of peers and supervisors. c) Taking information through newspapers and journals.d) Do not take any initiative.

i) Only a - 0 ii) Only d – 0 iii) a and c- 2 iv) All 3 – 8

Interpretation- The above pie chart depicts that 80% employees said that Retail head should take all the initiatives as shown in chart, 20% employees said that he should take only 2 (a & c) initiatives.

5.Should Retail head easily accept the changes in his work?


Interpretation- Above bar graph depicts that 90% employees are strongly agree that Retail head should easily accept the changes and 10% employees are moderately agree with this.

6.Different Competencies, which should help the Retail head-

a) Knowledge of basic accounting principals and procedures.b) Ability to read understands and follows written directions.c) Facilitation skills- ability to focus and direct group discussion.d) Decision making skills- ability to weigh options foresees consequences of decisions.


Interpretation- The above pie chart depicts that 30% employees said that Retail head should have all the 3 competencies (b, c, d), 30% employees said that he should have only 2 (c, d) and rest 40% employees said he should have all the 4 competencies.

7. Role of Retail Head- (Open-ended)

Interpretation- This is an open-ended question so the common response for this was the role of the Retail head should look after all the retail channels- Distributors, PSU Banks, IFA’S. He has to maintain good relations with the channel partners, solve all the queries.

8.Specific responsibilities of Retail Head- (Open-ended)

Interpretation- The common response was that Retail head should update all the

channel partners about the products, take maximum business from them. He

should motivate all the Relationship managers towards their target & help them in

all the appointments with the channel partners.

Analysis for Operations Head

1.Awareness about Competency in Operations head of Reliance Mutual Fund –

a) Yes – 10 b) No – 0

Interpretation- Above graph depicts that 100% employees said that Operations head has awareness about Competency. So that he can handle his team effectively.


Interpretation- The above graph depicts that 40% employees were stronglyagreed & 60% were moderately agreed that Operations head should possess some specific skills, which will benefit the company.

3.The attitude/qualities highlighted by the work of the Operations Head – (Open-ended)

Interpretation- It is an open-ended question so the common response, which have got was Operations head should have dedication towards his job, rapid resolution of problems, in depth knowledge of products, sound communication skills.

4.Initiatives, which should help to enhance the knowledge of work of the Operations head-



Interpretation- The above pie chart depicts that 20% employees said that Operations head should take both the initiatives as shown in option a and c, 60% employees said that he should take all the initiatives, 20% employees think that Operations head only study the work related task.

5.Should Operations head easily accept the changes in his work?


Interpretation- Above bar graph depicts that 20% employees were strongly agree that Operations head should easily accept the changes and 70% employees were moderately agree & rest 10% were not agree.

6.Different Competencies, which should help the Operations head-

a. Knowledge of basic accounting principals and procedures.b. Ability to read understands and follows written directions.c. Facilitation skills- ability to focus and direct group discussion.d. Decision making skills- ability to weigh options foresees consequences of decisions.


Interpretation- The above pie chart depicts that 30% employees said that Operations head should have all the 3 competencies (b, c, d), 40% employees said that he should have only 2 (c, d), 20% employees said he should have all the 4 competencies, 10% said he should have only 1 (a).

7.Role of Operations Head- (Open-ended)

Interpretation- This is an open-ended question so the common response for this was the role of the Operations head should be to take care of all the operations issues, to keep the market persons update by sending NAV daily, DMS maintenance, to maintain brokers list, new appointments, to maintain administration in office.

8.Specific responsibilities of Operations Head- (Open-ended)

Interpretation- The common response was that Operations head should help the

investors regarding their queries, troubleshooting, HR functions, admin affairs &

accounting.

Analysis for Relationship Manager

1.Awareness about Competency in Relationship manager of Reliance Mutual Fund

a) Yes – 10 b) No – 0

Interpretation- Above graph depicts that 100% employees said that Relationship manager has awareness about Competency.


Interpretation- The above graph depicts that 40% employees were strongly agree

that Relationship manager should possess some specific skills, 50% employees were

moderately agree, 10% employees were disagree with the statement.

3.The attitude/qualities highlighted by the work of the Relationship manager – (Open-ended)

Interpretation- It is an open-ended question so the common response which I have got was Relationship manager should have good communication skills, decision making power, smart work attitude, diligent, relationship building power etc.

4.Initiatives, which should help to enhance the knowledge of work of the Relationship manager-



Interpretation- The above pie chart depicts that 20% employees said that Relationship manager should take both the initiatives as shown in option a and c, 50% employees said that he should take all the initiatives, 20% employees think that he should take only study the work related task and rest 10% employees said that there is no need to take initiatives.

5.Should Relationship manager easily accept the changes in his work?


Interpretation- Above bar graph depicts that 40% employees are strongly agree that Relationship Manager should easily accept the changes and 60% employees are moderately agree with this.

6.Different Competencies, which should help the Relationship Manager -


i) Only d - 4 ii) c and d – 3 iii) b, c, d - 2 iv) All 4 – 1

Interpretation- The above pie chart depicts that 20% employees said that Relationship manager should have all the 3 competencies (b, c,d), 30% employees said that he should have only 2 (c,d), 40% employees said that he should have only one (d), and rest 10% employees said he should have all the 4 competencies.

7.Role of Relationship manager - (Open-ended)

Interpretation- This is an open-ended question so the common response for this was the role of the Relationship manager should be proper handling of all the channels, training of the distributors, product pitching, sales& distribution.

8. Specific responsibilities of Relationship manager - (Open-ended)

Interpretation- The common response was that Relationship manager should

maintain a touch base with all the channel partners, fulfill all the requirements of

brokers and give knowledge about the products, get them acquired by the features,

performance, benefits of Reliance mutual fund schemes, generate business from

the channels.

CHAPTER VI

Findings

Findings for Self-Competency

1. Almost all the employees of Reliance Mutual fund are aware of competency.

2. Almost all the employees have specific skills, which benefited the company in one

or the other manner.

3. The employees of Reliance mutual fund have positive attitude towards their work,

they posses decision making power, relationship building capacity, sound knowledge of

the products etc. which help the company for the progress in present and future also.

4. Most of the employees take some initiatives to enhance the knowledge of their

work. For this purpose they study the work related task, take help of their peers and

supervisors, read newspaper and journals. Hence it is a good sign for the growth of the

company.

5. Some of the employees easily accept the changes, which occur during their work but

most of them are resistant to accept the changes.

6. Some of the employees have faced some problem regarding the frequent change in

their work profile, and other implementations of new technology.

7. Most of the employees have different competencies in them for the better

performance of job. They have sound knowledge, facilitation skills, decision- making

power etc.

8. Some of the employees have got success due to some critical incidence during their

job. The no. of such employees is less so each employee should be aware of such

incidence.

9. It is a good sign that most of the employees have faced some challenges in their job

that is the learning path for them to get success.

10. All the employees report their Area Manager/Cluster Head. So there is not

communication gap and flow of information is smooth.

Findings for the Ideal Roles

For the Cluster Head-

1. According to almost employees Cluster head should have full knowledge of

Competency.

2. According to almost employees there is a strong requirement of specific skills for

the role of Cluster head.

3. The common response about the attitude/qualities of the Cluster head should have

sound knowledge of market, he must possess managerial skills, expertise in relationship

building, handle employees grievances in a proper manner, leadership skills should be

there in cluster head.

4. Most of the employees said that he should some initiatives to enhance the

knowledge for his role. He should study the work related task and read newspaper and

journals on regular basis.

5. According to almost employees Cluster head should be flexible or adaptable with

respect to any changes occurring in his role or market.

6. The main competencies required by the Cluster head are facilitation skills and

decision-making skills.

7. The important role of the Cluster head is he should create cult and tempo within the team of the entire cluster, to manage people with motivation and training, to take care of whole Rajasthan region.

8. The specific responsibilities of Cluster head include he should maintain good relation and chain between the sales team and upper management, he should mentor the sales team towards the achievement of group goals, and he should resolve all the problems and disputes of the employees in a proper manner.

For Banking Head-

1.According to almost employees Banking head should have full knowledge of

Competency.

2.According to almost employees there is a strong requirement of specific skills for the

role of Banking head.

3. The attitude/qualities highlighted by Banking head that he should have Decision making power, product knowledge, Relationship building, good communication skills etc.

4. Most of the employees said that he should some initiatives to enhance the knowledge

for his role. He should study the work related task, read newspaper and journals on

regular basis and take the help of peers and supervisors.

5.According to almost employees Banking head should be flexible or adaptable with


6. The main competency required by the Banking head is decision-making skills and

the other are facilitation skills, ability to understand and follow the written directions.

7. The role of the Banking head was he should be specifically depending on banks. He has to look after all the banking channels and maintain good relations with the banks with appropriate knowledge.

8.The specific responsibilities of Banking head that he should maintain good relation

and chain between banks and company. He has to generate all the business from the

banking channels.

For Retail Head-

1.According to almost employees Retail head should have full knowledge of

Competency.

2.According to almost employees there is a strong requirement of specific skills for

the role of Retail head.

The attitude/qualities highlighted by Retail head that he should have friendly and empathetic behavior with all the distributors, strong communication skills, and sound product knowledge, expert in maintaining good relations with the distributors.

4.Most of the employees said that he should some initiatives to enhance the knowledge



5.According to almost employees Retail head should be flexible or adaptable with


6.The Competencies required by the Retail head are decision-making skills, facilitation

skills, and ability to understand and follow the written directions, knowledge of basic

accounting principals.

7.The role of the Retail head is he should look after all the retail channels- Distributors, PSU Banks, IFA’S. He has to maintain good relations with the channel partners, solve all the queries.

8.The specific responsibilities of Retail head that he should update all the channel

partners about the products, take maximum business from them. He should motivate all

the Relationship managers towards their target & help them in all the appointments

with the channel partners.

For Operations Head-

1.According to almost employees Operations head should have full knowledge of

Competency.


the role of Operations head.

3.The attitude/qualities highlighted by Operations head that he should have dedication towards his job, rapid resolution of problems, in depth knowledge of products, sound communication skills.

4.Most of the employees said that he should some initiatives to enhance the knowledge



5.According to almost employees Operations head should be moderately flexible or

adaptable with respect to any changes occurring in his role or market.

6.The main Competencies required by the Operations head are decision-making skills,

facilitation skills, and ability to understand and follow the written directions and he

should have some knowledge of basic accounting principals.

7.The role of the Operations head should take care of all the operations issues, to keep the market persons update by sending NAV daily, DMS maintenance, to maintain brokers list, new appointments, to maintain administration in office.

8.The specific responsibilities of Operations head that he should help the investors

regarding their queries, troubleshooting, HR functions, admin affairs & accounting.

For Relationship Manager-

1.According to almost employees Relationship Manager should have full knowledge of

Competency.


the role of Relationship Manager.

3.The attitude/qualities highlighted by Relationship Manager that he should have good communication skills, decision-making power, smart work attitude, diligent, relationship building power etc.

4.Most of the employees said that he should take some initiatives to enhance the

knowledge for his role. He should study the work related task, read newspaper and

journals on regular basis and take the help of peers and supervisors.

5.According to almost employees Relationship Manager should be moderately flexible

or adaptable with respect to any changes occurring in his role or market.

6.The main Competencies required by the Relationship Manager is decision-making

skills and other competencies are facilitation skills, and ability to understand and follow

the written directions, some knowledge of basic accounting principals.

7.The role of the Relationship manager should be proper handling of all the channels, training of the distributors, product pitching, sales& distribution.

8. The specific responsibilities of Relationship manager that he should maintain a touch

base with all the channel partners, fulfill all the requirements of brokers and give

knowledge about the products, get them acquired by the features, performance, benefits

of Reliance mutual fund schemes, generate business from the channels.

CHAPTER VII

Recommendations

RECOMMENDATIONS

There are some recommendations or suggestions for Reliance Mutual

Fund after the above findings of the analysis-

1. Company should analyze all the important roles and required competencies to

perform those roles.

2.Company should recruit the candidates according to the required competencies

of the particular role.

3. For the development of the existing employees there should be well-structured

training program. The program should be consist of importance of the

competencies i.e. knowledge, skills, ability etc.

4. Apart from the above training there should be periodic training about the

changes occurring in market.

5. There should not be frequently change in the work profile of the employees.

This hampers the quality of the work.

6. The employees should be aware of the critical incidence which have been

benefited them. So they can set those incidences as examples for the

success/failure in front of the new employees.

CHAPTER VIII

Conclusion

CONCLUSION

As been analyzed employees of Reliance Mutual Fund have awareness about

Competency. They have specific skills, abilities, and knowledge etc. to perform their

job efficiently and effectively. They posses decision making power, relationship

building capacity, sound knowledge of the products etc. which help the company for

the progress in present and future also. To enhance the knowledge of their work they

study the work related task, take help of their peers and supervisors, read newspaper

and journals. The employees have different competencies in them for the better

performance of job. They have sound knowledge, facilitation skills, decision- making

power etc. Some of the employees have got success due to some critical incidence

during their job. They faced challenges and accept changes but in a resistant manner so

there should be well structured training schedule for their and company’s development.

On the other side all the roles (Cluster head, Banking head, Retail head, Operations

head, Relationship Manager) should have different Competencies according to their

specific role/task. All the above-specified roles should have some skills like- decision-

making skills, facilitation skills, expertise in relationship building, grievance handling

power, motivational skills, flexibility/adaptability according to the market conditions,

sound communication skills. Each of the specified roles should know his

responsibilities and role to enhance the credibility and profitability of the company.

Hence, Competency mapping plays a vital role for the development of the employees

as well as company.

CHAPTER IX

Questionnaire

QUESTIONNAIRE FOR HUMAN RESOURCE DEVELOPMENT (For Self-Competency)

N.B. – 1) The information received will be use for the purpose of research only and will be

treated

as confidential.

2) Please tick [] in appropriate boxes for ‘YES’ response and leave the boxes blank for

‘NO’ response.

Name – ……………………………………………………………………….Age -………………………………………………………………………….Designation – …………………………………………………………………Location of Company – ………………………………………………………

Q1. Are you aware of the term Competency? a) [ ] Yes b) [ ] No

Q2. Any exclusively specific skills have benefited your company – (Specify)a) [ ] Strongly Yesb) [ ] Moderately Yesc) [ ] Strongly No d) [ ] Moderately No

Q3. The attitude/qualities highlighted by your work- …………………………………………………………………………… …………………………………………………………………………… …………………………………………………………………………….

Q4. What initiatives you take to enhance your knowledge of work – a) [ ] Study the work related task b) [ ] Taking help of peers and supervisors c) [ ] Taking information through newspaper and journalsd) [ ] Do not take any initiative

Q5. Do you easily accept changes in your work? a) [ ] Strongly Yesb) [ ] Moderately Yesc) [ ] Strongly Nod) [ ] Moderately No

Q6. Please specify the changes if any- …………………………………………………………………………… …………………………………………………………………………… ……………………………………………………………………………

Q7. What Competency helps you the most?a) [ ] Knowledge of basic accounting principles and procedures.b) [ ] Ability to read, understands, and follows written directions.c) [ ] Facilitation skills – ability to focus and direct group discussions.d) [ ] Decision-making skills – ability to weigh options and foresee

consequences of decisions.

Q8. Any critical incidence, which have helped you in your success/failure? a) [ ] Strongly Yesb) [ ] Moderately Yesc) [ ] Strongly Nod) [ ] Moderately No

Q9. Specify the critical incidence if any – ………………………………………………………………………….. ………………………………………………………………………….. …………………………………………………………………………..

Q10. Have you faced any challenges in your job or role? a) [ ] Strongly Yesb) [ ] Moderately Yesc) [ ] Strongly Nod) [ ] Moderately No

Q11s. Please specify with whom you share your reporting relationship? ……………………………………………………………………… ……………………………………………………………………… ……………………………………………………………………….

THANK YOU

QUESTIONNAIRE FOR IDEAL ROLES(Cluster Head/Banking Head/Retail Head/Operations Head/Relationship Head)

N.B. – 1) The information received will be use for the purpose of research only and will be

treated

as confidential.

2) Please tick [] in appropriate boxes for ‘YES’ response and leave the boxes blank for

‘NO’ response.

Name –……………………………………………………………………….Age -………………………………………………………………………….Designation – …………………………………………………………………

Q1. Awareness about Competency in their specific role- a) [ ] Yes b) [ ] No

Q2. Any exclusively specific skills, which should benefit the company – a) [ ] Strongly Yes

b) [ ] Moderately Yesc) [ ] Strongly No d) [ ] Moderately No

Q3. The attitude/qualities highlighted by the above specific roles- …………………………………………………………………………… …………………………………………………………………………… …………………………………………………………………………….

Q4. Which initiatives should help to enhance the knowledge of work of the above roles –

a) [ ] Study the work related task b) [ ] Taking help of peers and supervisors c) [ ] Taking information through newspaper and journals

d) [ ] Do not take any initiative

Q5. Whether the above roles should easily accept changes? e) [ ] Strongly Yesf) [ ] Moderately Yesg) [ ] Strongly Noh) [ ] Moderately No

Q6. Different Competencies, which should help the roles most?a) [ ] Knowledge of basic accounting principles and procedures.b) [ ] Ability to read, understands, and follows written directions.c) [ ] Facilitation skills – ability to focus and direct group discussions.d) [ ] Decision-making skills – ability to weigh options and foresee

consequences of decisions.

Q7. What should the role/task of the above roles? …………………………………………………………………. .…………………………………………………………………… …………………………………………………………………….

Q8. What should be specific responsibilities of the above roles? …………………………………………………………………… ……………………………………………………………………. …………………………………………………………………….

THANK YOU

BIBLIOGRAPHY

1. Book of Business research methodology of ICFAI National College.

2. Book of Quantitative Methods of ICFAI National College.

3. Book of Human Resource Management of ICFAI National College.

4. Book of Performance Measurement and Reward Systems of ICFAI

National College.

Websites-

www.reliancemutual.com

www.amfiindia.com

www.google.com

www.economicstimes.com

www.tvrls.com

http://www.economicstimes.com/

http://www.google.com/

http://www.amfiindia.com/

http://www.reliancemutual.com/

a study on competency mapping of the employees of reliance mutual fund”

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