Training and Development Strategies of Reliance Money

Company profile
The Reliance Anil Dhirubhai Ambani Group is among Indias top three private sector business houses on all major financial parameters, with a group market capitalization of Rs 200,000 crore (US$ 50 billion), and net worth to the tune of Rs 58,000 crore (US$ 13 Billion). Reliance Money provides investors with the facility of anytime-anywhere online trading in all major asset classes, namely : Equities, Equities and Commodity derivatives IPOs, Mutual Funds, Life and General Insurance products, Foreign exchange derivatives, Money transfer, Money changing, Precious metal retailing, Credit Cards, Loans, Wealth Management products. Network of kiosks have been set up across the country to facilitate the above trading activities.Reliance Money provides entire commodity related services such as broking distribution and warehouse receipt financing. Expanded its presence to 20,000 touch points. It has 10,000 outlets across 5,000 towns and cities across India. Currently 2200+ employees across 162 locations spread across the country. The Corporate Office at Worli, Mumbai has approx 350 people belonging to these various functions

Training and Develpoment

It is a subsystem of an organization. It ensures that randomness is reduced and learning or behavioral change takes place in structured format.
Importance of Training and Development Development of Human Resources Training and Development helps to provide an opportunity and broad structure for the development of human resources technical and behavioral skills in an organization. Development of skills of employees Training and Development helps in increasing the job knowledge and skills of employees at each level. Team spirit Training and Development helps in inculcating the sense of team work, team spirit, and inter-team collaborations. It helps in inculcating the zeal to learn within the employees Organization Culture Training and Development helps to develop and improve the organizational health culture and effectiveness. It helps in creating the learning culture withintheorganization.

Organization Climate Training and Development helps building the positive perception and feeling about the organization. The employees get these feelings from leaders, subordinates,and,peers.
Quality Training and Development helps in improving upon the quality of work and worklife.

TYPES OF TRAINING METHODS ADOPTED BY RELIANCE MONEY

1) On the job: On-the-job training places the employees in an actual work situation and makes them appear to be immediately productive. It is learning by doing. For jobs, that either are difficult to simulate or can be learn quickly by watching and doing on-the-job training makes sense. 2) Off the job: Off-the-job training covers a number of techniques classroom lectures, films, demonstrations, case studies and other simulation exercises, and programmed instruction. The facilities needed for each of these techniques vary from a small make shift classroom to an elaborate development center with large lecture halls, supplemented by small conference rooms with sophisticated audiovisual equipment, two-way mirrors, and all the frills.

Research Methodology
Interview Preparation of the summary expressed Recommendation of fall back site Questionnaire design
RESEARCH DESIGN

Descriptive Design.
TOOLS USED FOR DATA COLLECTION Primary data collected through questionnaires and informal interviews. Secondary data collected through magazines, journals, websites, and other corporate publications

Data analysis and Interpretations

Q1.Your Organization considers training as a part of organizational strategy. Do you agree with this statement?

Response Agree Disagree Partially agree Cant say Total

60 50 40

No . Of respondent Percentage 13 1 4 7 25 52 4 16 28 100

30
20 10 0 AGREE DISAGREE PARTLY AGREE CANT SAY

Series1

Interpretations: The above graph indicates that Organization considers training as a part of organizational strategy.

Q 2. How many training programmes will you attend in a year?

Response

No . Of respondent Percentage

Less than 10 10-20

20-40 More than 40 Total
60 50 40 30 20 10 0 LESS THAN 10

14 2
6 3 25

56 8
24 12 100

Series1

10 20

20 - 40

MORE THAN 40

Interpretations :The above chart indicates that less training programmes are held in the organization.

3) What are all the important barriers to Training and Development in your organization? Response Time Money No . Of respondent Percentage 5 4 20 16

Lack of interest by staff

Non availability of skilled trainer Total
50 40 30 20 10 0

6
10 25

24
40 100

Series1

Interpretations :The above graph indicates that the important barriers to Training and Development in the organization is Non-availability of skilled trainers.

Limitations
Every scientific study has certain limitations and the present study is no more exception. These are:
The terminology used in the subject is highly technical in nature and creates a lot of ambiguity. All the secondary data are required were not available. Respondents were found hesitant in revealing opinion about supervisors and management.

Conclusion and Suggestions

Under noted few suggestions cum conclusion can be taken as for implementation to reap furtherest benefits. Making training and development process and entirely in house activity to reduce cost. It is found that the average age group of trainees are in their twenties or early thirties which signifies that the consumer durable industry need more of young blood as enthusiasm is an integral part of the industry. The maximum emphasis is given to job instruction methods where the trainee are made to understand their job thoroughly and the role they are going to play in performing their job. Lecture as well as the presentation is the major part of imparting the education and training them. The training objective are in keeping with needs and abilities of the trainee and it is this that proves to be the major reason for success of the training .