INTERNSHIP REPORTCritical Analysis of SECP & SWOT Analysis of HR&T Department TAYYABA AKHLAQ ACKNOWLEDGEMENT 1 | Page Miss Ayesha Saddiqua. EXECUTIVE SUMMARY 2 | Page .I would like to thank my supervisor. for the advice and guidance. .... Contents BRIEF INTRODUCTION OF SECP....... I was assigned tasks in which I had to re-organize and update HR archives........ analyze and compare operational HR methodologies and assist in day-to-day tasks of the department... I was given the opportunity to observe how HR operations are carried out. followed by recommendations....During my internship at SECP............... Miss Ayesha Saddiqua was my supervisor who assigned tasks to me and I reported her on completion........................................ 5 3 | Page ........ This report covers a critical analysis of the organization and SWOT analysis of HR&T... ............................................................................................................ 10 RECOMMENDATIONS................................................................9 CONCLUSION........................................................................................... 8 SWOT ANALYSIS OF HR&T DEPARTMENT................................ 7 CRITICAL ANALYSIS OF SECP............... 10 REFERENCES.............PLAN OF INTERNSHIP PROGRAM....................... 10 BRIEF INTRODUCTION OF SECP The Securities and Exchange Commission of Pakistan has been regulating the Insurance industry............................... 4 | Page .6 TRAINING PROGRAM...................................................................................................................................................................................................................................................... since January 2001 after it took over from the Controller of Insurance operating under Ministry of Commerce.................................... there are 324 employees working at SECP. CROs are located in Karachi. The SECP regulates and monitors the Insurance Sector in the country through powers vested in the Insurance Ordinance. Lahore. Departments: The following departments work under 7 different divisions: Local and Bilateral Relations Department Media and Corporate Communication Department Islamic Finance Department Information System and Technology Department Investor Education & International Relations Department Corporate Supervision Department 5 | Page .Government of Pakistan. 2000 and the Companies Ordinance. Main offices: SECP Head office is located in Islamabad. 1984. Number of employees: Currently. Faisalabad. Peshawar. Multan. Quetta and Sukkur. I was also briefed on the day-to-day operations of Training & Organization Development Wing. Corporatization and Compliance Department Legislation and General Counsel Department Policy regulation & Development Department Supervision & Enforcement Department Licensing & Capital Issue Department Finance Department Human Resource and Training Department Administration Department PLAN OF INTERNSHIP PROGRAM I did my internship at the SECP's head office in Islamabad. I worked in Human Resources & Training Department during the course of my internship. Any other assignment as deem fit by the concerned HOD. Advertise internships and manage the interns’ activities. short listing candidates. Coordinate with the approved Head Hunters for searching potential employees. The recruitment process includes analyzing the job requirements. selecting applicants. and assimilating the new employee to the organization through orientation. Conduct orientation of new employees. Negotiate salary and obtain references of new employees. hiring. Process documents of new and existing employees. HR Operations. 2015. Complete all the pre and post recruitment activities. from 25th March . Operations: 6 | Page . located in the NIC Building on Jinnah Avenue. I was in the recruitment and selection wing which performs the following tasks: Advertise jobs. TRAINING PROGRAM Recruitment and Selection Wing Recruitment involves finding and hiring the best-qualified candidates (internally or externally) for a job opening.6th May. Benefits and Funds Wing. Relations and Appraisal Wing and Compensation. in a timely and cost effective manner. attracting employees to that job. and conducting tests and interviews as required. Analyzed and compared various Workload Assessment Techniques. SECP is a self-governed regulatory body supported by the government of Pakistan. 6) Maintenance of HR archives by recording new hires. transfers and promotions. 3) Preparation of Job Description form. in the most effective and efficient way.1) The newly hired employees undergo assessments during their probation period i-e six months. Evaluated Pakistan’s renowned Headhunters for future consultancy. IS&T and Administration Department. Well-defined levels of Hierarchy. 7 | Page . Centralized decision-making. and implemented one of the methodologies for HR department. Assisted in framing SECP notifications. Developed an internship plan for HR&T. CRITICAL ANALYSIS OF SECP The Organizational structure of SECP has a classical approach to it i-e: 123456- There is clear line of authority. 4) Managing leave record of employees. The focus is on achieving organizational goals through human resources. Created a timeline for Annual Performance Appraisal. 2) Salary packages are designed according to the Salary Structure mentioned in HR manual and SECP budget. Suggested ways to appraise employee performance. Maintained records by updating employee data on MS excel. Equity among employees. Assisted in day-to-day HR operations. If an employee lacks in his/her performance then their training needs will be addressed by T&OD. There is smooth running of management and administrative operations. Chain of command. Probation Performance Assessment form and Performance Appraisal form in the light of SECP Competencies and values. The first assessment takes place at the end of third month and second assessment 15 days before the end of sixth month. Tasks Performed during Internship: Re-organized Job Description of employees. Division of labor in order to increase efficiency. 5) Reviewing scores obtained from Candidate Assessment for annual performance cycle or promotion cycle. Candidate Assessment form. The Recruitment process is transparent. Team activities are rarely performed. a comprehensive evaluation is performed to gather results. The department offers attractive salary packages. SWOT ANALYSIS OF HR&T DEPARTMENT Strengths - SECP has eight CROs but the department of HR&T is present in the Head office only. No employee output in decision making. There isn’t much of socialization among staff members. which ultimately leads an employee to lose interest. Facilitation of flexible work schedule. arrangements are made to assign task to the right employee. Patterns of communication are highly formal. Providing a better work environment. After successful implementation. The Compensation plans cover long term options with reasonable benefits. Lack of creativity. But. wings within a department collaborate frequently. Highly skilled employees with commendable expertise in management-related tasks. Decision making is entirely in the hands of higher authorities. This suppresses the creativity of employee because they are not given the opportunity to generate new ideas.Tasks to be executed are carefully planned out. Opportunities 8 | Page . Weaknesses - Tasks are mostly performed on an individual basis. There is no decentralization. dissatisfaction and lack of motivation. Inter-departmental collaboration increases the exchange of information and lead towards development. The departments of SECP seldom collaborate in daily tasks. Recruitment process is transparent. The tasks of T&OD may be hindered if the commission runs low on budget. Conduct informal training sessions to enhance cognitive skills of employees and stimulate creativity o o o o o through problem-solving techniques like. The accountability of senior officers and highly skilled employees give an edge to the organization. Endorse employee engagement by involving employees in management decisions through polls. o surveys and general meetings. Integrating new technology in the department can be useful. 9 | Page . Encourage new ideas by supporting and acting on them as deem fit. The culture should be employee-oriented that emphasizes on quality and high productivity. The menu for each day should be carefully planned and food inspection must be carried out on a weekly basis to ensure hygiene. Provide a common room for female staff.mapping. storyboarding and mind. Establishing better appraisal strategies to maximize outcomes. Lack of creativity may increase employee turnover in the department.- New policies are introduced from time to time. Promote team work among employees by assigning group tasks. There must be an executive for internship activities/ supervision of interns. The centralized system of the commission and absence of teamwork in the department can be a major reason for employee turnover and incorporating latest HR practices in the HR&T department can help retain employee. CONCLUSION SECP is an autonomous body supported by the government of Pakistan. HR&T department should implement improved HR methodologies for better employee o o performance. critical thinking. Incorporating latest HR practices in the department. Formation of new government can affect the policy-making of HR&T. There should be a Cafeteria serving healthy food. Threats - The growing tendency in the commission to centralize may affect the operations of HR&T. RECOMMENDATIONS o o Impose a decentralized system among divisions. Improved training approach and career development can generate even more productive workforce. brainstorming. There should be inter-departmental collaborations so that organizational goals can be achieved o o efficiently. Arrange for sanitizer dispensers on every floor to minimize health concerns. Promote teamwork within the department for improved performance. html http://eprints.pdf 10 | P a g e .asp http://www.REFERENCES http://www.uk/8070/1/Facilitating_collaboration_across_organisational_boundaries_(LSERO).com/definition/recruitment.secp.gov.businessdictionary.lse.pk/index.ac.