An organization study at Kotak Mahindra Bank

Shaharu B.

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An organization study at Kotak Mahindra Bank

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Abstract

Kotak Mahindra is a “20-year old new bank”. A part of the Kotak Mahindra Group that came into existence nearly 20 years ago and is one of India's leading financial institutions today enjoying the trust and confidence of over 5 lakh customers across the country. Partnering them in their growth has been leading international players like Goldman Sachs (Investment Banking and Equities), Ford Credit (Automobile Finance) and Old Mutual (Life Insurance).

Kotak offers a range of financial services and are market leaders in Retail Equities, Car Finance and Investment Banking. Their distinguished track record made them India's first ever company to be converted into a bank. At Kotak Mahindra Bank, they bring pragmatic world-class financial solutions for Indians the world over.

Kotak which has its head office in Mumbai is headed by Manish Kothari and has operations across India, with four specific locations namely – Mumbai, Delhi, Chennai and Bangalore. Navin Gupta heads the Western Region and Bhandari heads the Northern Region.

Tags: Objectives of Kotak Mahindra bank, Organizational structure of Kotak Mahindra bank, Kotak Mahindra strategy, Organization study at Kotak Mahindra bank, Departments in a Kotak Mahindra bank

Introduction
Organization structure
Functions and policies of the Human Resources Department (HRD)
1. Recruitment policy adopted by the company
2. Manpower budgeting adopted by the company
3. Manpower sourcing adopted by the company
4. Selection procedure of candidates adopted by the company
An overview of the annexure (a personnel requisition form)
Motivational factors adopted by the company
1. Race ? Sales force loyalty program
2. Service award
Employee welfare facilities
1. Health/mediclaim facilities
Record maintenence
Code of conduct
1. Purpose and scope
2. Conduct at workplace
Marketing department
Finance department
Swot analysis
Suggestions and recommendations
Bibliography

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[...] TYPES OF TRAINING Three categories followed at Kotak are: - ( Internal Training: - Such training programs will be specific to the needs of the company/business/functional unit and participation will be restricted only to company employees. ( External Training: - Employees, who have specific training needs, identified either through the Performance Management System or otherwise, may be sent for such training. These programs will normally be conducted by Professional Management bodies or by reputed Management institutes within the country. ( International Training: - For very specialized needs, employees may be sponsored by the company for courses conducted either by reputed universities or international management agencies located outside India. [...]

[...] RE-EMPLOYMENT ( In exceptional cases, the Bank is open to re-employing people who have previously worked with the Kotak Group, but they are to be cleared by HR. ( If the candidate has spent less than 2 years outside the Organization, he/she will be normally re-employed at the position last held and at the last drawn salary package (taking into consideration normal increment in the interim period). ( Any exceptional increase in salary offered, beyond above, will be on approval of Executive Director (ED). [...]

[...] Active Application data Bank: - The HR Functional Department will maintain an active application date bank which will include: - > Referred applications received from employees, directors and clients or from individuals known to any of the above. > Unsolicited applications received from time to time. > Applications from past selection efforts. Print Advertisement ( All recruitment advertisements will need to conform to the standard format and will not be released by any Division or Branch Head except under the written approval of the HR Head. [...]

[...] MOTIVATIONAL FACTORS ADOPTED AT KOTAK ( RACE SALES FORCE LOYALTY PROGRAM ( RACE is an initiative started by Kotak Mahindra Bank Ltd to recognize and reward consistent performers. Based on the motto of Passion, Pride, Progress and Prosperity. RACE is a performance led, time-bound, automatic, transparent and structured program. ( RACE comes packed with privileges and benefits which will motivate the sales team to overachieve the standards of performance. ( SERVICE AWARD ( Objective: - This document lays down the following: ( Introduction: - Covers the following: ( Entitlement of gifts and process. [...]

[...] Record maintenance is an ongoing process and in Kotak Mahindra Bank most of the data required to satisfy the need for accurate and timely availability of information will be stored in an electronic form. ( Record maintenance has been divided into 3 components, namely: - ( Record keeping. ( Record retention. ( Record media. ( In the case of Kotak Mahindra Bank, the maintenance of records will be reviewed for adequacy against the following criteria: - ( Content: - This reflects the nature of data that would be retained by Kotak Mahindra Bank. [...]

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