ATHARVA SCHOOL OF BUSINESS

MALAD(W)

MUMBAI

PROJECT REPORT

ON

PROCESS OF HUMAN RESOURCE

Designed & Developed

BY: Ms.Khyati Oza

1
 DECLARATION

I hereby declare that this project "Process of HR " at

Keystone is purely and sincerely completed by me
presented to the Atharva School of Business, in partial
fulfillment of the requirement for the degree PGDM.

The results embodied in this project have not been

submitted to any other university for any other
course.

This information has been used purely for academic

purpose.

Date: Khyati Oza

Place: PGDM - II

2
 ACKNOWLEDGEMENT

Achievement is finding out what you would be

doing rather than what you have to do . It is not
until you undertake such a project that you
realize how much effort and hard work it really
is , what are your capabilities and how well you
can present yourself or other things. It tells us
how we rely on the efforts and goodwill of others .
It gives me immense pleasure to present this
report towards the fulfillment of my project .

It has been rightly said that we are built on

the shoulder of others . For everything I have
achieved , the credit goes to all those who had
helped me to complete this project successfully .

I am very much thankful to Mr. S.S .Chouhan

– GM HR for their kind co –operation in the
completion of my project.

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 A special vote of thanks to my colleague ,
Mrs .Deepthi Satish who is HR Executive for her
most sincere , useful and encouraging contribution
throughout the project span .

I am also thankful to Mr. Rao who is my project

guide without his support my project was hard to
complete.

Finally , I would like to thank all my friends who

directly or indirectly helped me in completion of my
project & to my family without whose support ,
motivation & encouragement this would not have
been possible .

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 Executive Summary

The process of HR helps to know the flow of hr in the

organization . It helps the employees to understand
the philosophy & work culture prevalent in the
company . It also highlights the expectation of
the company expect from its employees.

The project gives a brief idea about the steps

involved in the recruitment & selection within the
organization. As Rustomjee is the first real estate to
have an I.S.O certificate, the project highlights the
various documents required as per the
I.S.O certification.

INDEX

5
Sr.No Topic PageNo
1 Introduction 7
2 Process of 14
Recritment and
selection
3 Process Of 25
Training
4 Process for 33
preformance
management
system
5 Induction 43
Manual

6 Documentation 52
management
7 Bibliography 54

6
 Introduction

Keystone Group started its construction activities in Mumbai.

In 1996 and rapidly rose to be a premiere construction company
due to its uncomprising commitment to the highest level of quality
construction as well as its consistency in delivery schedules .
Today, they figure amongst the leaders in the industry as they have
continuously adapted to the rapid changes and challenges,
by making use of latest technological developments. The company
has kept its self abreast of the technological up gradation systems.
The landmark projects constructed by the company provide eloquent
evidences of its versatile capabilities and unflinching commitment to
the customer’s requirements Invariably including the deadlines which
might otherwise seem difficult. The group has adopted its values in its
everyday functions, of never to substitute price for quality, to operate a
team workers with its customers and strive to be performance leaders in
every dimensions of the business it undertakes. The group has always
strived to achieve goal of 100% satisfied customer base.

Keystone group has till date launched, completed and delivered,

residential complex, premium homes and educational institutions.

They guess most Indian Construction companies haven’t yet explored the
plausible advantages that Human Resources (HR) could provide them in the
long term . Of late, they do see a paradigm shift towards corporatisation of
business across the spectrum . Several companies have launched well – planned
HR initiatives to attract / retain / motivate and develop human resources .
At Rustomjee , they have already done a fair amount of work in this area ,
and are committed to take our preliminary HR breakthroughs to the next
levels of ‘people effectiveness’ .
They believe that there are only two assets to be focused on : Brand &
People .
If companies can remain focused on these two critical issues , they are bound to
create , spawn , multiply , value many folds . Rustomjee is a success story in the
making ; it has evolved into a trusted brand on account of its focused approach .
Today , consumers associate them with the values they deliver – quality and
dependability , and it has been possible because of their people centric approach .
HR Initiatives
Due to the sustained HR initiatives taken in the past , today ,

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the company has fully implemented robust ‘ Performance Management System ’
encompassing elements like Goal setting , Self Appraisals , Reviews , Potential
Assessment , Compensations with Linkages and Development Focus … With a
dynamic internal customer satisfaction

measurement and assurance system in place , the company does keep a tab
on efficacy of the various people initiatives , and its impact on the Corporate
Culture .

Corporate Culture
They understand culture as ‘the way they do, what they do’ . Of course
, whatever they do is governed by values and their stakeholders’ belief in them .
At regular intervals they appreciate / reward and recognize staff contribution ,
thus reinforce values . The HR practices that they have put in place lays strong
emphasis on infusion of the right values ; and in order to facilitate the
implementation process they often combine HR programmes with celebrations .
This culture help them balance people and task – orientation .
Their work culture is people –orientation . Their work culture and focused on
performance . Mistakes are tolerated . Dishonesty , of any kind is immediately
punished. Performance is demanded . Opportunities , aplenty are offered to non –
performers , so they eventually improve . The focus is on promoting discipline .
They believe In ‘reinforcing values’ rather than ‘enforcing them’.

Attrition Problems
The brand value and reputation the company presently enjoys at the
market place helps attract the best talent . Their people – oriented HR policies
ensure that they not only retain the best , but also provide them with adequate
opportunities to grow with the company . On a day - to - day basis ,it is their
culture of tackling even the most critical business issues by putting ‘people first’
that differentiates them from the rest . At Rustomjee , they work together as one
big
family , and it is the people - to - people interaction that helps mitigate risks and
capitalise on opportunities . As responsible members of the family, each
individual is accountable to the family .

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Vision 2012

They strongly believe that people should have a larger purpose in mind ,
and it should purpose in mind , and it should motivate them to give their best .
The larger purpose (Goals) should be clearly defined , and everyone in the
company should strive to achieve it. Having a clear Corporate Vision helps
the company evolve its own business strategies and strategic objectives .
This invariably leads to Goal Setting , which in turn facilitate the process
of ensuring commitment from people . This is the reason why they organize
several programmes to familiarise their employees with their vision 2012.

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 Projects
Projects Under Construction

 Rustomjee Ozone Tower 1 – Tower 6 – Goregaon (West)

 Rustomjee La sonrisa – Matunga (East)

 Rustomjee 7 JVPD – Juhu

 Rustomjee Natraj

 Rustomjee La Roche

 Rustomjee Elanza

 Rustomjee Aspiree

 Rustomjee Astrea

 Rustomjee Athena

 Rustomjee Sterling (Sangam) Santacruz (W)

 Rustomjee Eaze Zone Goregaon (W)

Up coming Projects

 Rustomjee La Fontaine

 Suhera

 Rustomjee Elita (Upper Juhu)

 Khar (W)

 Rustomjee Everard Retail

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  Nityanand baug ( Chembur)

 Suman Nagar (Chembur)

 Rustomjee D.N.Nagar (Upper Juhu)

 Central park – Commercial – Andheri (E)

Completed

- Residential

o Rustomjee Regency (Dahisar West)

o Rustomjee Residency (Dahisar West)

o Rustomjee Royale (Dahisar West)

o Rustomjee Adarsh Excellency ( Malad West)

o Rustomjee Riveria (Malad West)

o Rustomjee Central Park (Andheri East)

o Rustomjee La Sonita (Bandra West)

o Rustomjee Shimmer ( Juhu)

o Rustomjee Orva (Bandra West)

- Commercial

o Gagan Shopping Arcade (Goregaon East)

o Rustomjee Natraj ( Andheri E)

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 o Rustomjee Aspiree ( Sion)

Achievements
1). The Estate Agents’ Association of India – Awarded for best Customer
Relationship at property 2002 Housing & Real Estate Exhibition.

2). The Association of Real Estate Agents presented the Award

14th September 2002 to keystone Realtors Pvt. Ltd. For creating
Great Opportunity in Business, Positive Interaction & valuable
contribution for the betterment of the Association on
5th Annual function.

3). Mancherji Edalaji Joshi Memorial Trust presented Outstanding

contribution award to Boman R Irani in 2006.

4). Keystone was one of the First Indian Real Estate Development
Company to get ISO 9001 : 2000 Certificate in August 2001.

5). The Most Customer Friendly Developer – Awarded at the MCHI

Exhibition .

6). MCHI – Excellence in design – Oct- 2006

7). Accommodation Times –

The Best Young Achiever Award – March 2007

8). ACE 2007 (The Economic Times ) –

The Leaders of Indian Infrastructure & Construction.

9). Mapsor India Property Awards 2007 –

Excellent Brand in Real Estate.

10). Building Industry Leadership Awards (2nd BIB Awards ) –

Promising Builder.

11). Glory of Mumbai Awards (Times) –

Best Township for Environment Maintenance

12). National Economic & Integration Council (Business & Education) –

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 Rajiv Gandhi Shiromani Award.

Company Turnover

Keystone Group has an annual turnover of more than 150 crores.

Directors

Mr .Boman R. Irani who is the chairman and Managing Director.

Mr. Irani is an engineer with exposure to international trade , a

first generation developer , an entrepreneur and a team leader .
He is a visionary and a thinker nad the driving force behind
the Keystone team.

He is assisted by Chandresh D. Mehta (Director) who is an engineer from

Indian Institute of Technology and an MBA from Xavier’s
Institute of Management (Bhuvaneshwar) Specializing in Finance
and Marketing putting together the building blocks which build
the company . Mr. Mehta has an extensive understanding and in
depth knowledge in the construction field .

Mr .Percy S Chowdhry (Director ) is a Management Graduate having

specialized in Marketing and has a world of experience in marketing ,
having worked for a string of Multinational Corporations like Dunlop ,
Gulf Oil etc . and finally headed operations for the Western Region
of India for Coca – Cola .

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Chapter 2 : Process for Recruitment And Selection

2.1 Process for Recruitment & Selection

2.2 Manpower Requisition Form
2.3 Qualification Matrix
2.4 Weightage Matrix
2.5 Interview Rating Sheet
2.6 Offer Letter
2.7 Personnel Form
2.8 Reference Check Form
2.9 Appointment letter

Process for Recruitment & Selection

Purpose
To ensure that the need for recruiting people is identified,
recruitment of personnel is done based on the competency
requirement and the skills required for the job.

Scope
Applicable to all the activities related to the recruitment of
competent people at all levels at Keystone Realty Pvt Ltd.

Responsibility
The Overall responsibility for establishing , documenting ,
implementing and updating this procedure lies with the
General Manager HRD.

Process Steps
Need For Recruitment
The need for recruitment arises based on many reasons :
• When an employee leaves the organisation
• When there is a new project expected to be launched

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 • Expansion plans of the Management
• Business plans every year

Manpower plan is prepared based on the Business plan every

financial year. Department heads will submit their manpower
requirements to GM – HR who will compile the data and prepare the list .

This list is then approved by the Director / Managing Director .

Chief Engineers and Department Heads will co-ordinate the same

Based on the need to recruit a new employee, the concerned

departmental head/his assignee fills in the
Manpower requisition form . A Director duly approves
the Manpower Requisition form before it is forwaded to HR
department for further action.

Manpower requisition form has the details like:

• Educational Qualification required
• Professional Qualification required
• Skill set required and desired
• Experience required
• Salary range
• Key Objectives of the job
• Deliverables in one year

Planning

 Based on the Manpower requisition received , HR plans

recruitment.

 Ways of recruitment are through:

 Employee referrals
 Databank
 Newspaper Advertisements

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  Website listing
 Surfing the resumes from the Job portals
 Consultants

 The Job specifications (as per the manpower requisition form) are
communicated to the recruitment agency .
Based on the requirements, the recruitment agency
recommends / suggest suitable candidate.

 In case an advertisement is to be placed the date of Ad release /

colour /location is decided and agreed.

 The advertising agency sends the proof for approval and

once approved the Ad is released. The media in which the Ad will be
released is finalized like: Newspaper, Business Magazines
or any other publications.

 In case of recruitment through job portals the resumes are

short listed with the help of the key words available on the portal .
The selection of these job sites is on the basis of the kind of position ,
level , and other functional requirements.

Short listing and Screening

The Sr.HR executive short-lists candidates before forwarding a list of

candidates to GM HR for review. GM puts the comments and then forwards
the short listed resumes to the department head / Requesting section
indicating the date.
Department Head / Requesting section screens the resumes with
reference to the Job specification mentioned in the
manpower requisition form and puts their comments
on the short listed resumes , prioritise the resume and
sends it / then to the GM HR

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 A final short list is prepared . Resumes of rejected candidates or the
candidates kept on hold are either retained in the databank or scrapped .

Interviews

Recommended candidates are called for interview . HR Executive sends the

Interview sends the Interview call letters by post or Emails
or gives intimation telephonically to the candidates.

Interviews help the organization make a judgement on the

candidate’s suitability for the respective job –

Educational qualifications, experience profile,

achievements, extracurricular / societal activities
and compatibility with the organization values and culture.

Interview are conducted in two rounds by the respective

officials as detailed in Work Instruction.

Interview rating sheet is filled for the assessment of each

candidate for a particular job . Each member on the interview panel fills up
interview rating sheet . The members shall discuss the suitability
of the candidate after each member has filled up the Interview
rating sheet to arrive at a consensus.

The candidate/s rated as the best based on the above is /

are issued a letter of offer .

If the candidate is not suitable for the job GM HR informs the

candidate verbally either during the interview or later verbally
on the telephone or an Email is sent informing the candidate
about the status.

Where a candidate is kept on hold till other interviews are in process

for the same position they are informed of the same. No candidate will
be kept on hold for more than 10 days.

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 Appointment / Rejection

Candidates selected in the final round of interviews are requested to fill in the
Keystone Personnel Form.

Compensation to be offered to the candidate is decided on the basis of –

 Market trend
 Internal comparisons
 Candidate’s existing Compensation
 Experience
 Educational / Professional Qualifications
 Keystone pay scale for the respective profile
 Criticality

All the above factors are considered before making an offer to

the candidate.

In case reference checks are to be made, these are carried out

and the details are filled in the Reference check form

Based on the above information an offer letter is prepared and

sent across to the candidate. If the candidate accepts the offer
letter then the candidate is informed about the joining process
as detailed below.

Joining Process

Once the candidate accepts the offer, the date of joining is

recorded and the letter of offer contains this information.

Before the candidate joins the GM HR will ensure that

following are in place :
 Workstation

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  Computer / Laptop
 Activation of Email ID
 Extension Number

All of these are in accordance with the level and responsibility

and in accordance with the organization rules.

The candidate is informed about the reporting times and the working hours.

The Candidate is given an Appointment Letter on the day he joins.

The candidate is also informed about the documents / details He /
She is supposed to furnish as he joins the Organisation.
These documents are :

• Latest Medical fitness certificate from a recognised

medical practitioner
• Proof of Date of Birth
• SSC and other education certificates
• Experience certificates
• Proof of last salary drawn
• Relieving letter from last employer
• Reference letter from any reputed person
• PF Nomination / Transfer form whichever is applicable

On day ONE all the records / documents are verified by

GM HR or his assignee.

HR department issues get him / her introduced to all the other

employees of the Organisation.

Induction Training

On the day of joining a new recruit is given an overview about

the company profile and his / her job. HR department arranges
formal induction programmes only after sufficient number of
newly recruited employees are available to attend induction

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 training . The purpose of the induction program is to ensure that:
• Person becomes comfortable with the organisation’s
working culture
• New recruits are provided with the requisite information
and tools to carry out the assigned tasks.
• Keystone values are inculcated
• Know the colleagues / peers

HR executive will handover the following documents to the new recruits :

• Keystone Employment form (if not issued earlier)

• PF Transfer / Nomination form , whichever is applicable
• Saving Bank account opening form
• ESIC Form whenever applicable.

Once these documents are handed over and explained in

detail the person is introduced to the respective department head.

HR Executive guides the new recruit to the respective HOD.

Department Head ensures that the Induction checklist is completed

within ONE week from the date of induction programme and duly signed
by the new recruit is submitted back to HR department . This checklist is
filed in the respective employee personal file.

Once the person joins Induction training is carried out as detailed in

the “Procedure for Training & development”.

RECORDS

Sr. No Record No. Record Title Maintained By Retention Period

1 HRD/F/07 Manpower HRD Till the position
Requisition is filled
Form
2 HRD/F/08 Interview HRD Till the employee is
Rating is with the
Sheet organisation

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 3 HRD/F/09 /Offer Letter HRD Till the employee is
is with the
organisation
4 HRD/F/10 Keystone HRD Till the employee is
Personnel is with the
Form organisation
5 HRD/F/11 Reference HRD Till the employee is
Check Form is with the
organisation
6 HRD/F/12 Appointment HRD Till the employee is
Letter is with the
organisation
7 HRD/I/1 Interview HRD
Instuctions

Interview

The interview process should help the company make a judgement

on the candidates suitability for the role. Educational qualifications,
Experience profile, Special achievements on the job, Extracurricular /
Societal involvement and Value fit ( Keystone values) are the primary
areas to be focused on.
Interview Panel

The HOD / Hiring Manager would coordinate / conduct the

interviews for the short listed candidates in accordance with the chart
given below.

Level Position First Round Second / Final Round /

Hiring Decision

Level GMs;Chief Engineers; Directors Concerned Directors Concerned

2 HODs;Project
heads;etc
Level Sr.Engineer;Sr Officers Head of Respective Directors Concerned
3 (Marketing Purchase,AccountsFunction & HO-HR
,Legal etc)

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Level 4 Jr.Engineer ;Jr Officers; Representative of Head of Respective
Executives(Marketing Purchase, the concerned Function & HO-HR
Accounts ,Legal ,Stores ,etc) department
Level 5 Site supervisors; Representative of Head of Respective
Administration /Office staff etcthe concerned Function & HR Officer
department
Level 6 Store / Office Boys Administrative head
& HR Officer
Manpower Requisition Form

Date
Designation
Department
No of vacancies
Location(s)
Reporting to
No of subordinates

1.Key objectives of the Job

2. Major Deliverables: Next One Year

3. Right Person:
a) Essential Attributes /Skills Required:

b) Desirable Attributes /Additional Skills Preferred :

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 Interview Rating Sheet

Note : Date:
1. This from shall be filled by the interviewers
2. A copy of manpower requisition form must
Be attached with this form .

Name of the candidate :

Post Interviewed For:
Candidate interviewed by:

1
2
3

Sr.No Factors Weightage Points

1 Appearance
2 Education
3 Experience
4 Job Knowledge
5 Application of

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 knowledge
6 Communications
skills
7 Problem Solving
techniques
8 Initiative
9 Attitude
Offer Letter
Date
Mr./Ms.

Offer Letter
Dear Mr.

With reference to your application and our

subsequent discussions ,we are pleased to
offer you a position to offer you a position of

Your job responsibilities will be as discussed

and mutually agreed upon.We would like you
to join on or before
preferably earlier.

Please sign and return a copy of this letter as a

token of your acceptance of the same.

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 Welcoming you and looking forward to a
successful association.

Regards,
GM-HR

Chapter 3 : Process Of Training

3.1 Training Needs Form
3.2 Induction Check List
3.3 Training History Card
3.4 Training Feedback Form

Purpose :
To ensure that the training needs are identified,
training is provided, benefits of training are assessed and
records are maintained.

Scope:
Applicable to training of all the employees of Keystone
Realty Pvt Ltd.

Responsibility And Authority:

The overall responsibility for establishing, documenting ,
implementing and updating this procedure lies with HRD.

Planning:
Considering the developmental objectives of all employees
& the organization, training needs are identified through
the annual Performance Appraisals, Training Needs
Form, Management Request, Employee Suggestions surveys
or any other method introduced by HR from time to time.
Identified training needs may be aimed towards employee
growth & development in the area mentioned.
Training can be Internal or External depending
upon the requirements. Training areas would broadly

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 cover following:

• Knowledge and or improvement of Technical Skills.

• Knowledge / Improvement of Administrative Skills
• ISO 9000 and quality system
• Behaviour and soft skills
• Any other training for the overall development of the employee

Training Needs identified using any method including Keystones

Performance Appraisal are consolidated by HR department heads
and projected to the directors using “Training Needs Form” on
a yearly / half yearly basis.

For external training, brochures are collected from various

institutions conducting training programs and are kept in
Training brochures File. HR department uses this information
for preparing training estimates.

HR department estimated the cost of training programme to

compare it with training budget available. HR departments
coordinated with all departmental heads to arrive at a
training budget at the beginning of a financial year . HR department
prioritizes training needs that are most critical in order to
utilize the budget effectively.

HR department prepares a training plan and gets approval

of the Directors.

Training Schedule

The approved training plan is transformed into a “ Training Calendar”.

Training calendar is prepared at least twice, once after the performance
appraisal process is completed and again within a span of 6 months time.

Execution

External : Training

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 Training Programmes are organised where the training
needs are to be met externally.

A letter is sent to the training institution informing them

the details of the participating employee

Communication confirming the arrangements is received

from the Institution. Participant and the HOD are communicated
about the training via mail or through letter.

Internal Training

Induction
All new employees joining the Organisation are given
Induction Training. An “Induction Manual” is issued
to the employee for reference.

Training date, time and place are fixed once there are twenty
new employees. Training team consists of HR Executive ,
GM HR , Director and the departmental heads.

The employees are informed about the Induction Training.

The Head of the department and the HR brief him about the
background of the company.

The employees are informed of the expectations from the company.

Verbal explanations are supplemented by a wide variety of printed

materials, project brochures, employee manuals etc. along with a
short guided tour around the project.

The participants are issued a “Induction Checklist” immediately

after the training is over, which is filled up by them and sent to the
HR Department.

If required on the job training is imparted to employees.

Working of such persons are supervised till performance is found to be

satisfactory by the concerned superior.

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 Where possible, training is provided in house. This may be through
classroom sessions, on the job or demonstration of work techniques.

All trainings whether internal or external, are recorded in the

“Training History Card”.

Assessment of the training is recorded as given below

External Assessment : Certificate issued by external agencies.
A trainee’s immediate superior / departmental head is required to observe
post-training effectiveness / change in behavior seen in the subordinate .
An informal report of this observation is given to the HR department within
one month. HR department is responsible to record the same in Training
History Card.

Internal Assessment : Assessment is also done during annual

Performance Appraisal process / on the job performance and its review / written
test / Interview . A departmental head is responsible to communicate the
assessment results to hR department if the assessment method is other than
Performance appraisal.The record of such assessment is entered in the
Training History Card.

Feedback
The participants are issued a “ Training Feedback Form ”
as soon as they attend the training program,which is filled up by them and
sent to the HR Department . The feedback form assesses the training
programme & the trainer’s abilities .Where feedback received is poor,
alternate arrangement with training institutes or trainer are explored.

Records :

Record Record Title File Name / Maintained Retention

Name No By Period
HRD/F/01 Training Training File Executive Till Final
Needs Form HRD settlement
HRD/F/02 Induction Employee Executive Minimum
Checklist File HRD 1 year
HRD/F/03 Training Employee Executive Till Final

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 History Card File HRD settlement
HRD/F/04 Training Training File Executive Till Final
Feedback HRD settlement
Form
HRD/F/06 Performance Performance Executive Till Final
Appraisal Form Appraisal File HRD settlement
For Executives & Employee
& Below File

Training Needs Form

Employee Information Date:

Name of the employee

Designation

Department

HOD

Please tick for the Training type

1.Administrative

2.Technical

3.Behavioral & Soft skills

4.Quality

5.Others

Justification

29
 HOD HRD DIRECTOR
Training History Card

1.Name
2.Desgination
3.Qualification
4.Experience on Present Job:

Sr.no Training Plan Faculty Actual Training Sign

center date Institution date assessment &
Date

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 Training Feedback Form
Ratings :
5-Excellent 4-Very Good 3-Good 2-Average
1-Poor

SrNo Parameters 5 4 3 2 1
1 Meeting the
objectives of the
program/sessions

2 Coverage of
subjects in the
presentations

3 Keeping the session

alive and
interesting

4 Your own
understanding of
the concepts

5 Managing Time
6 Faculty
Effectiveness

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10 Suggestions for improvement

11 What did you like about the program

12 Learning’s from the programme which would help

you become more effective

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Chapter 4 : Process for Performance Management

4.1 Performance Appraisal Form Applicable

to (J3 and Above)

4.2 Performance Appraisal Format

Guidelines

4.3 Support – Staff Performance Appraisal

Purpose :

a) Enable an Appraisee & Appraiser to review Appraise’s

performance against set KRAs at the beginning of a
financial year.

b) Assess an appraisee on Keystone’s Competencies

c). To set KRA’s for the next financial year

d). Discuss significant achievements beyond KRA ‘s in the

performance year

e) Provide feedback & counseling to appraise.

Scope :
Applicable to all the employees at Keystone.

Responsibility And Authority:

The overall responsibility for establishing , documenting ,
implementing and updating this procedure lies with HRD .

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Setting Up Of Objectives
• Objectives of Performance Appraisal are established beforehand.
• Identification of training needs
• Revision of compensation
• Promotions and rewards
• Probation & Confirmation
• Meaurement of efficiency of performance evaluating the system.

Key Result Areas

Latest Work Instructions are issued to all the Head of Departments
which is to be followed at the time of conducting Appraisals.

Key Result Areas are established in writing at the beginning

of a financial year to facilitate comparison of performance
with the standards (MOP & LOP)

The performance standards are communicated to the

employees in the form of Key Result Areas at the start
of the appraisal period.

The employee’s performance is compared with the Key Result

Areas by a Head of the department.

This comparison is documented in the

“Performance Appraisal Form” . These are filled up for :
Appraising executives & above to assess on:
a) Ratings on KRA’s for the performance year.
b) Assessment on Keystone Competencies.

The Directors may review the completed appraisal

forms if necessary. However , in respect of HOD’s ,
the Directors will have the responsibility for review.

Appraisal is dicussed with the appraise after a Director’s reviews.

34
 Suggestion or comments if any are recorded and are
given due consideration .

In respect of all support staff, a separate form is used for

performance
appraisal and rating on each parameter is given following a discussion
between appraisee & appraiser and a general consensus arrived between
them.

Appraisals – the purpose :

The objective of this is to :

a) Enable the Appraisee & appraiser to discuss Appraisee’s performance
against the KRAs set at the beginning of the financial year (here after
referred as Performance Year).
b) Set KRAs for the next year (here after referred to as
Current Performance Year)
c) Discuss significant Achievements outside of and beyond the
KRAs in the Performance Year.
d) Asssess on the Key Keystone competencies.
e) Communicate the over all rating and
f) Provide feedback and counseling all of which is explained below.

(‘Appraisee’ is the person whose performance is assessed

& ‘Appraiser’ is the person who is the boss and does the appraisal .
Normally the appraiser reports to the reviewer)

The Keystone Performance Appraisal format consists of the following 8

sections:

Section 1 : Rating on the KRAs for the Performance Year

Section 2 : Performance on the significant tasks / achievements
outside & beyond the KRAs
Section 3 : Assessment on the Key Keystone Competencies
Section 4 : Over All Rating
Section 5 : Identification of Strengths / Improvement Areas &
Developmental Plans

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Section 6 : Target Setting for the current Performance year
Section 7 : Time Lines

Section 1 : Rating on the KRAs for the Performance Year

• The Appraisee lists down KRAs and their respective Weightages
• The Weightages should total 100
• As the KRAs were not set in the company for the Performance
Year each Appraisee will indicate the KRAs as it ought to
have been set in the beginning of the Performance Year or at
the time they joined and the expected outcomes.
• As against the Promised Target , actual target achieved also
needs to be mentioned.
• The Appraisee needs to describe his / her actual performance &
discuss the same with his / her appraiser

• The appraisee gives a rating against each goal as per the

rating scale provided below.
• The Appraiser discusses the rating with the appraisee and
indicates his own or a consensus rating.
• In case of any dis- satisfaction / inability to arrive at a score ,
the inputs of the reviewer may be sought by the appraisee
or appraiser
• In such a case the reviewer’s rating will determine the Performance
Score

• Incase the reviewers assessment is not sought then the appraiser’s

/ joint consensus rating will be taken into account to
determine the Performance Score.
Section 2 : Performance on the significant tasks / achievements outside &
beyond the KRAs
• This section captures the performance on the significant tasks /
projects other than KRAs that would have been carried out by
the appraisee during the Performance Year
• Contributions to the cross functional efforts / task force

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 accomplishments etc like ERP / company’s recruitment efforts
also may be considered
• While no rating is assigned in this section , the exercise provides an
opportunity for both the Appraiser and the Appraisee to get a clearer
view of the contributions made by the appraisee and serve as yet
another input for the appraiser to arrive at an over all rating
• The open-ended questions at the end of this section which will
further help highlight significant factors that enabled high performance.
• Responsibility rests with the Appraisee to fill up this section

Section 3 : Assessment on the key Keystone Competencies

• A set of 4 key competencies has been identified as company
level competencies for the Keystone Group .
• The Appraiser will make an assessmenent of the appraisee on these
competencies .
• Additionally the assessment on compenetencies will also help as a tool in
potential assessment .
• A 5 point scale A,B,C,D,E (where A is the highest)
is used for this assessment .
• At a later stage when the organization has a better grasp
on the company linked assessment Appraisees may be assessed
on different proficiency levels on each of the competencies .

Section 4: Total Score

• This section needs to be filled up by HR to ascertain the Total score
received by each individual for the two parameters of performance &
competencies .

Section 5: Over All Rating

• The overall rating is to be arrived at by the Appraiser and
Reviewer jointly by giving due consideration to 1
 Performance Rating
 Performance on significant achievements
 Rating on Competencies
 Previous year Ratings.

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• The inputs from the discussions between the Appraisee
and the Appraiser & between the Appraiser and the Reviewer
will also help in arriving at an objective Overall Rating
• Distribution norms will be made applicable to the over all rating
• This would mean that percentage of total number of people
who would be construed as Excellent / Very Good etc in
a given group / team / Function will be predetermined .
• This rating will serve as inputs for increments , promotion and aid in
placement decisions.

Section 6 : Identification of Strengths / Improvement Areas &

Developmental Plans
• This section is also used by the appraiser to identify and
communicate Major Strengths & Opportunities for Improvement
• It will also provide the requisite inputs to the HR department
to identify appropriate Training programs , internally
or externally or launch other developmental initiatives
• While identifying strengths of an individual , it is necessary
to identify initiatives that will re-enforce these strengths
either through training , rewards etc.
• For Areas of Improvement , Developmental initiatives including
training interventions have to be recommended either to effect
improvements in the areas identified
• The Appraiser should fill up this section together with HR , as
worthwhile inputs can be captured & execution plan can be
derived .

Section 7 : Target Setting for the next year

• This section provides the format for documenting Current
performance Year goals / targets
• It should have linkages to the Goals set for the Appraiser / reviewer
• While setting the KRAs all are expected to apply the SMART
test to ensure that the goal remain relevant and meaningful
in the organizational context . The SMART , simply put ,
will ensure that KRAs remain Specific , Measurable ,
Agreed , Realistic and Time bound .
• 4 – 8 KRAs , together , is expected to address 80% of the

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 role requirements and time spent .
• A goal will have a Measure of Performance (MOP) & level of
Performance (LOP)
• To illustrate : A measure of performance may be cost reduction or
estimated cost or sales revenue or customer satisfaction .
It needs to be a measurable parameter .
• An LOP is promised level of performance which is
considered 100% (e.g. 15 cost reduction from the estimated cost of
construction , where 15 is 100% & any negative or positive
variation will show a decrease or increase in the target achieved )
• Discussions & deliberations between the Appraiser and
Appraisee on the KRAs is a must to have a shared understanding .
• An agreement is desirable .
• Weightages need to be assigned to each goal and total of weightages
to be 100 . Responsibility lies with the Appraisee .

Section 8 :Time Lines

• Timelines For the current assessment process need to set with

inputs & Buy – In of all HODs.

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 Keystone Annual Performance Appraisal

Appraisee : Mr/Ms. Employee No.

Appraisal Period

Location : Level : Branch : Department :

Appraiser’s Name & Designation :

Reviewer’s Name & Designation :

Total Score

No ITEMS A B
1 Parameters Performance Competencies
2 Weightage 70 % 30%
3 Score Received

40
 ASSESSMENT ON PERFORMANCE

KRAs ObjectivesWeightage Target Target Rating on KRAs

(Min 4 Assigned Promised Achieved Self Appraiser Reviewer
Max8) (If Any)

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Performance Rating Score = (WA1*RA1) + (WA2*RA2) + (WA3*RA3) + ……….

(WA1 + WA2 + WA3 + ……)

ASSESSMENT ON COMPETENCIES

Sr. No Competencies Rating

1 Achievement Orientation

2 Teamwork / Team orientation

3 Credibility

4 Self – Direction

5 Commitment to Learning

Performance Rating Score = Competency Score x 100

=
10

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 Induction Manual

Induction Program
Responsibility has been allocated to the department head / site in
charge for inducting the new employees in the company .
The Salient points of the induction Program are given below .
• Introductions of the company to the new corner .
(Including Company history , Organisation chart and
company’s Quality policy etc.)

• Job information i.e Duties and responsibilities ; on the job training , etc .

Various information viz.working hours , leaves , Rules , conveyance and other

benefits .
• Introduction to colleagues and superiors in the dept / site .
•
• Applicable clauses of ISO 9001 : 2000 & Procedures .

• Filling up of forms ( as applicable )

o Company Employment form

o Provident funds form
o Employee State Insurance form
o Each employee shall fill in the joining report along with
employees for and submit to the HR Dept through site in
Charges / ‘HOD’ on the day he joins the company.

43
 Induction checklist will be filled up by the site in- charge and will return
to the ‘HR’ Dept .

Quality Policy Of Company

• They at Keystone commit to build Residential / Commercial
building to fulfill customers expectations and continually
improve on the same to enhance customer satisfaction by :
Adopting latest trends in construction materials and techniques
• Build trust by completing projects and delivering product on
time
• Attending customer complaints immediately and reducing
them in upcoming projects .
• Building people capabilities to address customer requirements
, current & future .

They provide learning opportunities to employees to enhance their

knowledge relating to latest trends & build their capabilities on a
continuous basis .

They committed to comply with the requirements of the quality

management system and continually improve its effectiveness
through management review and quality audits at regular intervals .

Objectives

• Keeping abreast with the latest trends in construction materials

and techniques and using them in upcoming projects.
• Timely completion of projects as per the dates promised to
customers (maximum deviation by one month )
• Provide learning & development opportunities which include
imparting of Training Calendar , on the job learning , stretched
targets and knowledge / experience sharing initiatives .
Indicators to be reviewed & improved continuously are :-
Training programs conducted as per the Training calendar ,
its evaluation , on the job learning as reflected in the ratings ,
stretched targets as per the goal sheets and usage of knowledge portal
• Attending customer complaints within 3 working days and redressal
depending on the nature of the complaint in consent with customers .

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• Reduce customer complaints related to product (finishing , construction ,
plumbing and electrical fitting etc .) by 10% on project basis.

Overview Of I.S.O.9001-2000

To ensure that quality records identified , collected , indexed ,

filed and stored in a derived manner to provide evidence of
achieved quality and to demonstrate the evidence of effective
operation of the quality system.
ERP
Enterprise Resource Planning (ERP) or Decision Support System
(DSS) is a computer program application that analysis business
data and presents it so that users can make business decisions
more easily . It is an “informal application” (in distinction to an
“Operational application” that collects the data in the course of
normal business operation ). Typical information that a decision
support application might gather and present would be :

• Budgeted v/s Actual Cost of Construction

• Comparative sales figures between one week and the next
• Projected revenue figures based on new project sales assumptions
• Demand v/s Allocation of resources (money , material , manpower etc.)
• The consequences of different decision alternatives , given past
experience in a context that is described

An enterprise resource planning system is present information

graphically and may include an expert system or artificial
intelligence (AI) . It is aimed at business executives or some
other group of knowledge workers .

Hours of Work

Monday To Saturday :

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Employee at HO 9.30A.M TO 6.00 P.M.

Weekly off Sunday

Holidays : The Holidays to be observed in the head office and the

various sites will be decided by the management and will be communicated
to the employees from time to time .

Leave Entitlements

The leave entitlements are as follows :-

Eligibility :

Employees are eligible for the following types of leave .

Leaves
Type of Leave Permanent Employees Trainees
Leave 35
Casual Leave - 05 05 (Entitlement after
6 months)

Sick Leave - 05 05 (Entitlement after

6 months)

Privilege - 15 15 (Entitlement after

6 months)

Paid Holidays 10 10 10

PRIVILEGE LEAVE(PL)

46
 A. Privliege leave may be applied for minimum perod of 3 days
and the sanction for the same is to be obtained at least 2 weeks in advance.
B. PL shall not be granted more than twice a year.
C. If the employee after proceeding on leave desires an extension
he/she shall apply to H.O.D with reason.
D. Grant of leave to an employee depend on the exigencies of work.
E. Total accumulation of PL allowed upto 45 days and above 45 days
,balance PL would be encashed on Basic Salary.
F. Encashment after separation from service is applicable at rate of
Basic Salary only.

SICK LEAVE(SL)

A. In case an employee falls sick,intimation can be given through

telephone or letter ,but the application must reach the H.O.D at the earliest.
B. Medical certificate in support of leave application is to be forwarded
from a Registered medical practitioner for SL in excess of 2 days.
C. Accumulation of leave allowd upto 15 days above which the SL will lapse.
D. Encashment of SL is not allowed.

CASUAl LEAVE(CL)

A. Unavailed CL at the end of the year shall be merged with the PL,
provided the total PL to his /credit does not exceed 45 days.
B. CL requires prior sanction ,Application for the same shall be made
in advance Except in case of emergency and unforeseen circumstances.
C. CL shall not be sanctioned for more than 2 days at a time.
Encashment of CL is not allowed

Maternity Leave :

The grant of Maternity Leaves will be governed by the provision of the

Maternity Benefits Act or the ‘E S I’ Act 1998 as the case may be .

ESIC Scheme

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 Contribution is made to the ‘E S I’ Corporation for the eligible
Employees as per the ‘E S I’ Act 1998 . These employees are
eligible for the benefits as applicable under the Act .

Provident Fund

The Company has a P.F.Scheme .The Contribution made by

the Company to the P.F is 12% of Basic Salary along with
employee’s similar Contribution as per the Provident fund Act 1952 .

Long Service Awards

Intent
The objective of this policy is to express the company’s
appreciation for long service and to create motivation for continued
dedicated service.

Eligibility
Employees who have completed five years of services
with the company .

Awards
For completion of 5 years :- Gold coin .

Scroll of Recognition
Appropriate scroll of recognition for long services will also be given
along with the service award .

Company Loan Policy

1) Entitlement after one year of service

2). Four Times the gross Salary per month

3). Deduction Limits

a) 6 months

48
 b) 12 months
c) 18 months
d) 24 months
Note*
Deductions can be decided by the applicant in the loan
application , the limit of repaying the loan is maximum
24 months i.e 2 years .
Gap of one year is mandatory for the next loan application

Loan Approval process:-

1). H.O.D Recommendations

2). H.R. will confirm the Eligibility / Rejection
3). Final approval by Director’s
4). If the loan amount is Rs .1 Lac or above , 4 % interest on
the reducing balance will be charged on the principal amount .
5). Only three Applications will be considered in one quarter
which will be on first come first basis .
6). Two employees of the company will sign the loan application
as guarantor . In case of default , loan repayment will be strictly
recovered from the guarantors monthly salary / bonus / full
and final settlement etc.

Company will not be responsible for applicant’s separation

and guarantors are the sole responsible persons for the
recovery of the loan .

Retiral & Separation Benefits

The intent of this policy is to create savings for the future and to provide
a feeling of security for the period of life & retirement .

Provident Funds :
• All Caderised employees are covered under the company’s
provident fund scheme duly approved under the provisions of the
provident fund Act 1952

Contribution :

• Employees are required to contribute 12 % of the basic

49
 salary towards P.F . Equivalent contributions is made by the
company .

Benefits :

• The benefits under this scheme are subject to government

regulations and / or trust rules .

Gratuity :

Eligibility

• An employee with a continuous service of minimum five years .

The Qualifying period of five years of services will not apply
in the case of employee who dies in harness or suffers total
& permanent disablement .

Condition

• Gratuity is payable on retirement , resignation , death or physical

disablement .
• Gratuity may be wholly or partially with held if the employee is
discharged or dismissed from service on disciplinary grounds .

Computation

• 15 days of last drawn basic salary for each completed year

of continuous service . Service of six months , and above ,
will be considered as a full year and service of less than
6 months will be ignored .
• Period of services is calculated from the date of the
employee joining the company or any of the group companies .
• The benefits under the scheme are subject to the provisions of the
payment of gratuity act 1972 .

Family Pension Scheme :

• Employees who are members of the employee provident

fund Scheme are also eligible for the benefits under the

50
 family pension scheme .
• The benefits are spelt out in the employees provident funds and
miscellaneous provisions ACT .

Group Mediclaim Policy

They have covered all the employees under Group Mediclaim

Policy No. OG-08-1901-8402-00000017 of Bajaj Allianz General
Insurance Co.Ltd. for a sum insured of Rs 3 Lacs each .

This is a Standard Hospitalization policy , which means there has to be

a minimum of 24 hours hospitalization to become eligible for the bnefits
under the policy . There are certain procedures to be followed in the event
of a claim .

It is advisable that a proper notice / information is given to Insurance

Company and their Office for intimation of hospitalization for
availing the cashless facility as also all the claim formalities ,
claim form duly completed and discharge card alongwith reports ,
bills and receipts are submitted at once to the Insurance Company .

List Of Company HOD’s

Keystone has 383 employees inclusive of all the engineers ,

non – engineers, support and non-support staff.
Departments comprises of the following with their heads mentioned :-

Sr. No HOD Department Designation

1 Sushant Karpe Accounts & Finance President – Accounts
& Finance
2 Abhishek Kapoor Business Development VP Corporate CEO
Thane Project
3 Suhas Sawant New Projects – Mumbai VP Projects
4 Balram Sharma Commercial VP Commercial
5 Rahul Vakhariya Projects – Thane VP Thane
6 Rakesh Dogra Projects – Mumbai GM Projects
7 SS Chouhan HRD & Admin GM HR & Corporate
Administration
8 Prashant Karwe Planning & Architecture GM Planning &
Architecture

51
9 Girish Panchal Services GM Services
10 Kaizad Hateria Marketing & Sales GM Marketing &
Sales
11 Geeta Mondkar Customer Support GM Customer
Support
12 Amee Dharmadhikari Legal DGM Legal
13 Dharmesh Shah Billing DGM Billing
14 Dhimant Choksi Purchase DGM Purchase
15 M.K . Srivastava Quality DGM Quality
16 Amarendra Singh Estimation & Quantity Manager –
Estimation
& Quantity
17 V.M . Samir Information Systems Manager - IS
18 Dinesh Bangera Stores Sr. Store Keeper
19 Karan Singh Security Head Security
20 Allwyn Saldanha Business Development – Redevelopment
Redevelopment Projects Associates
21 Madhav Misra Marketing & Sales GM – Corporate
Marketing & Sales
Commercial
22 Jawahar Naickar Business Development VP Business
Development &
Projects
23 G R Sayed Engineering GM – Projects
Mysore

Documentation Management
Documentation Management helps to keep an update
about transfer , promotion , termination , giving merit pay ,
sanctioning leave of employee.

What do u mean by the term “Record’’

The term record means to keep each and every details regarding
employees. It will help us to know whether the employee is
working in the organization or he has left . It includes all the
personal details of an employee and even about his past job , about his
experience etc.

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Essential of good record :
1. The objectives of good record for which it is maintained should
be clearly & adequately stated .
2. Its upkeep & maintenance should not be costly . It should be kept
under lock & key to ensure that it is not mislaid .
3. It should be easily identified & differentiated from another record .
4. The record of different kinds of information should be kept &
maintained in separate files .
5. It should be maintained in such manner that the information
it contains is easily accessible .
6. Some particular person should be entrusted with the responsibility
of maintaining record .
7. A procedural manual should be maintained , detailing the procedure
to be followed for maintaining & dealing with the records .

The documents which are necessary for documentation are as follows :-

• Medical Certificate
• Birth Certificate
• S.S.C / Other Certificate
• Experience Letter
• Proof of Last Salary Drawn
• Relieving Letter
• Reference Letter
• Personnel Form

Salary Breakup

BASIC XX

HRA XX

CONVEYANCE XX

MEDICAL ALLOWANCE XX

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 SPECIAL ALLOWANCE XX

GROSS XX

P.F XX

ESIC XX

I.T XX

BONUS XX

CTC XX

YEARLY CTC XX

BIBLIOGRAPHY

www.rustomjee.com

HR department of KEYSTONE

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