ICICI Bank Introduction:

Recruiting and selecting the right people is paramount to the success of the ICICI BANK and its ability to retain a workforce of the highest quality. This recruitment and selection policy sets out the procedure to ensure that the best people are recruited on merit and that are the recruitment process is free from bias and discrimination.

ICICI Principles:

Following are the guiding principles for recruitment and on-boarding process:

• Attracting and recruiting the right people is one of the most important activities of the organization and is the responsibility to be owned by each and every employee of the organization.

• Merit will be the single most important factor in selection process.

• They will ensure a diversity, both gender and ethnicity by targeted candidate sourcing with the help of recruitment vendors and the referral program.

• While skills and profile matching play an important role, they will hire people who are team players and have the right attitude most relevant to the culture of the organization. Attitude is as important as aptitude.

• They believe in becoming a company of giants and emphasis is in hiring people who can grow bigger and better than they presently are.

• They believe in providing their employee with fulfilling career paths. Towards this, they will post vacancies internally as a preferred option while evaluating external candidates.

• They believe that each candidate interviewed irrespective of whether she/he is selected should become a friend of the organization. They treat all the candidates with the utmost respect. They will be open and fair in communication with them; this way they also enhance the brand image of the organization.

• They will continuously assess, identify and cultivate strategic talent pools including those at the universities, management schools, and community forums to address their long term needs.

ICICI HIRING APPROVAL:

• All recruitment activities shall be undertaken based on the hiring plan as approved by the Business Head, HR Head & the CEO. For each approved position, a hiring requisition will be required prior to initiation of any recruitment activity. If the hiring was not included in the planned budget, it will also require approval from the CEO based on a recommendation from the Head HR and the CEO.

• Recruitment expense will be allocated to the concerned business unit, and expenditure should be budgeted and pre-approved by the business unit head and the HR Head.

CANDIDATE SOURCING:

The hiring manager along with the Human Resource Department would decide the channel / source to use based on the nature of the recruitment. The following sources of recruitment may be considered:

Internal Sources: - Whenever any vacancy arises, the possibility of fulfilling the requirement internally via reassignment and relocation, re-allocation of the responsibilities or internal promotion will be explored by the hiring function along with the HR Department. - Internal job postings to explore internal candidates.

Employee Referrals – ICICI encourages employees to refer suitable candidates for open positions.

Other external sources include: -

Recruitment agencies –

External job postings - College / campus requirement –

Requirement advertisements

ICICI APPLICATION PROCESSING:

ICICI processes all applications promptly and inform the applicant or source regarding the status of the application. ICICI responds to all solicited applications within 5 working days of receiving the application.

INTERVIEW PROCESS:

• All candidates are required to undergo a face to face interview with the interview panel before selection.

• Interviews may be conducted at a place at mutually convenient locations and time in an effort to maintain confidentiality of the hiring effort.

• One on one meeting shall be preferred as the interview format, however depending on the constraints panel interviews / telephone / video conference screening could be used.

• For recruitment at junior levels, job fairs, universities etc, where large volume of candidates, ICICI uses recruitment tests for purpose of short listing. The candidate may be tested on the basic aptitude, analytical skills or other skills required for the job of the candidates.

• The interview process focuses on the evaluating the candidates suitability in terms of the job description and fit within the organization.

• Each interviewer completes the interview feedback form and submit it to HR. HR compiles the results from a various interviews and provide these to the line manager for the final decision.

RECRUITMENT Expense:

• All recruitment expenses including recruitment fees, advertisement expenses and interview related expenses is allocated to the concerned business unit.

• The candidate will be informed about the nature of the expenses that are reimbursable and the supporting documents required (in original). HR will ensure that candidate fills the necessary reimbursement forms and that he/she receives the reimbursement at the earliest.

• Outstation/International Candidates - ICICI will pay for appropriate air fare and expenses incurred for the stay for candidates who they decide to fly from other locations. Prior approval from the Regional HR Leader / HR Head is required to invite candidates. For candidates from International Locations, prior approval from the HR Head needs to be taken.

ICICI PRE-EMPLOYEMENT CHECKS:

This will include both a professional reference check as well as the background check.

• Professional reference check will be completed by the hiring manager. ICICI will request contact information for 2 references from the candidate, and check the quality of previous work experience and key personal characteristics/conduct/ previous record etc.

• For key positions in areas, ICICI will also perform a background check to assess the integrity / conduct of the candidate.

• The following information regarding the candidate will be verified:

Proof of educational qualifications

Any professional certificate that is essential to the job

Address details Passport details Date of birth

Proof of previous employment (service certificate) Any negative feedback and comment in the reference check will be investigated by HR and if found genuine shall be a cause for disqualification of the candidate or dismissal from

OFFER PROCESS:

• Once the hiring decision is finalized, HR will prepare an offer / fitment as per the compensation structure and grade and keeping in mind the internal equity.

• The offer would be communicated to the selected candidates by the hiring manager along with HR. The candidate will sign the contract letter to formally accept employment from the organization.

PRE-EMPLOYMENT PROCESS:As an organization, ICICI will make all necessary arrangements to ensure a smoothjoining process for the employees. HR will provide the candidate a check list prior to joining to ease joining formalities.

RELOCATION FOR EMPLOYMENT:Where the employee has to relocate and has been pre-approved by the HR Head and the staffing leader, the relocating candidate shall be eligible for the following relocation assistance: The joining employ has the option to avail temporary accommodation (which includes laundry) for the first two weeks arranged by organization. The stay in company provided accommodation can be extended by two weeks further based on specific approval from the Head HR. Where the stay extends beyond 4 weeks, the respective will not be paid housing allowance for the corresponding period. Local travel assistance up to positions of RO/RM/equivalent and below will be reimbursed for one week and for SRM/equivalent and above will be reimbursed up to two weeks. Food expenses during the period will be reimbursed as per actual up to Rs 500/-per day per person. Approved reasonable expenses incurred in transporting the personal goods including the transportation

/registration of one automobile to the city of work. Employees are advised to use the designated moving agencies as per rates negotiated by Administration. Where negotiated rates are not available, the employee is required to submit 3 quotations and secure approval from Administration before assigning the contract to a moving firm.

EMPLOYEMENT OF RELATIVES:

The organization employs, purely on merit, the relatives of our employees as long as it does not create a potential conflict of interest. To avoid a potential conflict of interest and to reduce the possibilities of favoritism – the following guidelines must be followed: Relatives are not assigned to a position where he/she has the opportunity to check, process, and review, approve, audit or otherwise affect the work of the persons citedand above. NO one is assigned to a position where she/he influences the professional progress or promotion of the persons cited above. If one is aware of a situation that appears to be an opportunity for people to display favoritism to relatives, one should contact the Department Head or Human Resources Department. Employees will not be part of the hiring process of their relatives.

DEFINITION OF RELATIVES:Relatives would include husband, wife, children, parents, sisters, brothers, first cousins, brothers-in-law, sisters-in-law, mother –in-law, and father-in-law. Employees who are aware of candidature of their relatives for the organization must immediately report to the HR function in writing for information and records. Failure to immediately report such cases will be considered as a serious violation of the recruitment policy and may entail a disciplinary action.

INTERNSHIP PROGRAM:As part of university hire program, ICICI will provide internship opportunities to students. Such internships will provide opportunities to students to learn while making real contributions to the company. ICICI will follow the following process:

• HR will coordinate with business groups to identify potential opportunities for intern hires.

• Internship requests could be received either from the students directly or as nominations from the educational institute.

• HR and hiring manager to tele-interview the candidates with subsequent personal interviews in the office

• HR to coordinate with the hiring manager to develop the project plan for the hire Based on the demonstrated capability, the intern will be provided with the opportunity to work in multiple departments to gain a wider business understanding.

ICICI INTERNSHIP CRITERIA:

Typically, the intern will be a pre-final year student of the Bachelor or Master degree programs specializing in Financial Services/IT and any other business stream as required. Interns will be expected to manage their won accommodation and it will not be provided by the company Intern will be required to sign the confidentiality and code of conducts documents of the company.

EMPLOYEE ON-BOARDING – PROCESS:

The overall purpose of the new hire integration process is to ensure that the new employee is able settle in smoothly and is able to contributing at the earliest.

PRE EMPLOYMENT INDUCTION:

ICICI’s employee induction process shall begin as per the employee accepts the job offer. The process includes: Welcome pack: As soon as the candidate accepts the offer, a welcome pack will be sent to the employee A congratulatory note regarding the decision to join the organization Contact details of a HR representative and the hiring manager A brief company overview document Pre-joining checklist: Include details of the documents required from the employee. In case the employee is relocating from a different location, details of the relocation process and the visa requirement will be outlined in this checklist Expectations on the first day of the joining Office resources: HR shall intimate the immediate supervisor the joining date and immediate supervisor shall work with the IT and administration team to set up the following 5 days prior to employee joining, the following elements and are in working order: Email ID, phone, computing resources, work space/office, access cards, joining kit including bank account opening form, initial reading material.

ICICI POST JOINING ORIENTATION AND INDUCTION:

Joining kit: The employee upon joining would be welcomed by the HR representative and would be given a joining kit that will include: Access card, information on employee’s email and phone number, Bank account opening form, corporate insurance application form(if applicable),HR & Admin policy manual, other relevant reading material ( to be prepared by hiring manager) Classroom Induction: The employee integration process will also include classroom training and induction where the employee will receive presentations and trainings on various topics that would further ingrain the into the organization On the job training: Besides formal training sessions, the employee will undergo onthe-job function specific trainings that are facilitated by the respective functions to help the new employee acquaint himself/herself with work in progress.

PROBATION POLICY:

Probation is a trial that is mutual opportunity for the employee and ICICI to confirm suitability for continued employment. The probation period is to establish a stronger understanding of mutual capabilities, expectations and understanding which may include functional training. The employee must demonstrate suitability for continued employment. An assessment will be based on factors related to work performance, work habits, productivity, attitude and compatibility, attendance and punctuality, and any other matter that is linked to job performance and expectations. All new hires will be placed on probation for a period of 6 months from the date of joining HR will initiate the confirmation process by sending an appraisal form to the immediate supervisor before the completion of probationary period. The appraisal form will need to be approved by the supervisor’s leadership. All letters of confirmation or extension of probation will be signed by the HR head and will be stored in employee file for records.

REFERRAL BONUS AMOUNT:

• The Referral Bonus Program is operated under the authority of the Budget and Control Board’s Employee Bonus Guidelines. Under these guidelines, an employee may receive multiple bonuses, the total of which may not exceed $2,000 in any fiscal year.

• Referral bonus payments may be paid in a lump sum or in periodic payments until the new employee has completed his or her probationary period. Payments cannot be made until the referred candidate has been employed for a minimum of one month.

For example, a $1,000 referral bonus can be structured as follows: - $250 referral bonus awarded after three months from the hire date, - $250 referral bonus awarded after six months from the hire date, - $500 referral bonus awarded at the end of the probationary period.

REFERRAL BONUS PROGRAM ADMINISTRATION:

The Referral Program operates in accordance with the following program requirements:

• Referral bonuses are awarded at the discretion of management with the Agency Director or his designee having final approval authority.

• Funding for the program must come from existing agency resources.

• The Agency will provide a form for completion and submission by either the applicant or the referring employee with the applicant’s application indicating that the referring employee has made the referral.

• The Agency will designate a position as “hard-to-fill” before the position is posted.

• Employees selected for eligible positions must be employed by the agency for at least one month before a referring employee may be eligible to receive a referral bonus. Referred candidates cannot be current employees of the hiring agency in any capacity, to include temporary, temporary grant, research grant, time- limited project, or contract employees. Both the referring employee and the referred candidate must be employed by the agency when any referral bonus is paid receive the referral bonus.

• Any disputes arising from the application of this program will be the responsibility of the Agency Director or his designee to resolve and will not be considered a grievance under the State Employee Grievance Procedure Act.

• The agency HR Office will monitor the use of the Referral Bonus Program and will report annually to the Office of Human Resources information on the use of the Referral Bonus Program.

• The hiring process will be fair and consistent with agency policy and procedures, with no bias for or against candidates whose selection might make another employee eligible for a referral bonus. Amount paid to the employees who refer the candidates and if they get selected varies from Rs. 7000 to Rs.2000 based on the grade of the employee refereed and the refereed candidate placed. This amount is paid to the employees in two ways:

1. Immediately when the candidate is joined

2. After the completion of 3 months of the candidate selected. Only middle level and senior level management employees have the opportunity of referring the candidates.

This policy/scheme is not applicable to the top management employees. Also the employees who are under probation or training period are not eligible for this employee referral policy.

ICICI CONCLUSION

Recruitment is essential to effective Human Resources Management. It is the heart of the whole HR systems in the organization. The effectiveness of many other HR activities, such as selection and training depends largely on the quality of new employees attracted through the recruitment the recruitment process. Policies should always be reviewed as these are affected by the changing environment. Management should get specific training on the process of recruitment to increase their awareness on the dangers of wrong placements. Effective recruitment is important in achieving high organizational performance and minimizing labor turnover. As of now ICICI Bank Ltd. has a team of effective human resource which is efficiently managing the organization at its best. Though the recruitment process adopted by the organization needs to be improved, challenges are ahead for the HR Department to recruit people after the effect of recession.