INSTITUTE OF BUSINESS MANAGEMENTINTERNSHIP REPORT Name: Hadia Ashfaq Student ID: 20151- 18854 Program: BBA (Honors) Major Field: Human ResourcesCompany: TCS Private LimitedDuration: 6 weeks, June 12, 2018 to July 20, 2018413385063500040576507366000Report based on Option 1 _______ Option 2 _________Due date of the report: Aug 04, 2018Report Submitted on: July 31,20182. Table of ContentsCompany Introduction…………………………………………………………………………………………….
…3Vision…………………………………………………………………………………………………………………
..3Mission…………………………………………………………………………………………………………………3Core values…………………………………………………………………………………………….…………….4Departments to which I was attached……………………………………………………………….….
..….4Functions of the department and how it is related to corporate objectives.….
..…..4Departmental work……………………………………………………………………………………….….
….5Theories learned in academics and their application…………………………………………………..
5Department……………………………………………………………………………………………………..…..5Concepts/Theories applied…………………………………………………………………………………
..5New concepts learned………………………………………………………………………………………….6Recommendations……………………………………………………………………………………………………..6COMPANY INTRODUCTIONTCS Holdings (Private) Limited, Pakistan, possesses the country’s biggest logistics services framework, through seven companies in the fields of Courier, Warehousing and Distribution, Trucking, Air and Sea cargo and Ecommerce as well.While the above are for the most part business-to-business services, a variety of customer services is additionally given by TCS companies devoted to Travel and Visa Services, Gifts-Delivery, and Concierge Services.
A patented “Supply Chain Advisory” service offers customized solutions for corporate clients, which reach out to project management for clients hoping to outsource non-core activities.Clients outsourcing key procedures to TCS incorporate government divisions, multi-national organizations, Utility Companies and Banks. Such activities are implemented by TCS through devoted teams.
One such office is a best in class gear for printing and stuffing of a huge number of envelopes containing utility bills or bank or credit card statements. TCS operates its own transportation fleet from two wheelers to vans/trucks, and aircraft. The newest TCS Company is TCS E-Com (Private) Limited was established in 2014. The site Yayvo.com is broadly engaged while the as of late propelled studiobytcs.com intends to take Pakistani fashion worldwide.
TCS has a strategic association with the world’s biggest package delivery and supply chain solutions provider ‘United Parcel Service’ – UPS who have elite access to its deals and delivery network in Pakistan. Correspondingly TCS approaches UPS worldwide system. Its services and key partnership with the giant UPS gives TCS worldwide reach and scope.VISION”Delivering Beyond Customer Expectations”.MISSION”To direct all our organizational efforts at building upon the existing organizational strengths and brand recognition to achieve enhanced levels of profitable growth in the core business, and diversify into new areas that complement and supplement the core business, with the diversification aimed at achieving excellence and industry leader status in the new areas. The TCS People will however be encouraged to be open to unconventional ideas and services and recognize new trends at very early stages”.CORE VALUESEnable our people to align their personal goals with their career aspirations.Do more with less.
Build a team of passionate people!Give it all you got and be fearless.What you do is more important than who you are.Trust and empower people.Make life simple, convenient and easy for our people and customers.Create happiness for self and others.Embed ethics and transparency in everything we do.Be humble and respectfulDEPARTMENTS TO WHICH I WAS ATTACHEDDepartment: Human Resources Supervisor name: Sir Shujat HabibDesignation: Senior Manager HR FinancialsDuration: June 12, 2018 to July 20, 2018 FUNCTIONS OF THE DEPARTMENT AND HOW IT IS RELATED TO THE CORPORATE OBJECTIVESHuman Resources (HR) department at TCS pvt limited primarily executing a successful methodology for recruiting and retaining the best human resource, create strategies and measures for their proficient satisfaction, profession development, giving competitive packages keeping in mind regular market surveys, annual appraisals and capacity building of staff and medical services and always attempting to be aligned with the corporate destinations. All things considered, HR takes after a straightforward, merit based recruitment framework for perpetual and legally binding staff and students.
For this, HR proactively prepares and actualizes frameworks depended on merit based recruitment, impartial approaches for competitive remuneration packages and a need-based skill enhancement program to further enhance the information base of staff and give them proficient development opportunities.HR also focuses on increased connection amongst staff and management and routinely solicits staff information and input for additionally enhancing HR activities and practices. It is also the obligation of HR to stay up-to-date regarding new data, abilities and labor laws to adequately deal with the organization’s human resource and update policies to upgrade staff satisfaction, improvement, inspiration and retention and to be lined up with the objectives of the organization.2.
2. DEPARTMENTAL WORKThe main work that was assigned to me included:Reconciliation of final settlement information from Year 2015 till June 2018. In this task, I maintained the information of former employees, and record their case status in excel.Maintain final settlement documents record in Master Information System (MIS).Maintain payment record of payment return to the HR in form of Cheques and Pay Orders of Salaries and Final settlement.THEORIES LEARNED IN ACADEMICS AND THEIR APPLICATION DEPARTMENT: Human Resources (Compensation and Benefits) CONCEPTS/THEORIES APPLIEDThe concepts that were taught in Human Resource Management course regarding Compensation ; Benefits are also applied in the organizations. Since I worked in Compensation ; Benefits department of TCS, I observed the practical implication of those concepts.
There are two types of compensation.Direct CompensationIndirect CompensationDirect Compensation incorporates fundamental annual salaries or hourly compensations paid to laborers as an end-result of their services to the organization account. It refers to the monetary advantages acquired for work done for a particular span like 60 minutes, seven days, a month or a year.Indirect Compensation refers to the non-money related compensation provided to employees, including yearly leave, extra time stipend, medical coverage, life assurance, company car and mobile, gratuity and pension funds.
The framework that is discussed above is used in TCS also. In TCS Indirect compensation management includes employee leave management, health related support, payroll allowances, insurance etc. While direct compensation management mainly refers to the payroll. Moreover, TCS prefers the compensation plan that is market competitive.
Salary surveys are also considered while deciding the salary for a particular job position. TCS uses internal equity method of compensation. In TCS, paygrades are also developed which means that employees are given certain grades for pay purposes. NEW CONCEPTS LEARNEDAt TCS, the compensation and benefits department is further divided into two parts i.e.
HR Financials and HR Non Financials. HR financials deal with the direct compensation and HR Non Financials deal with the indirect compensation. I particularly worked for the HR Financials. The main task of HR Financials at TCS include Payroll, Final Settlement and Loan Disbursement. So, here I learned the concept of Final Settlement. Full and Final Settlements ordinarily known as the FnF procedure is the methodology required to be followed by the employer after the employee has resigned from his/her job.
The fundamental parts of FnF Settlements incorporate unpaid compensation, non-profited leaves and rewards, gratuity, deductions, pension and so on. At the point when an employee leaves from his/her position, the entire documentation is done and the data with respect to every one of these things is extracted from the systems and afterward a record (case) is made of that employee.At TCS, there are basically three kinds of employees i.e. general, incentive and temporary. The salary components of general employee is fixed.
For incentive employee, only one salary component is fixed while others are variable and salary components for temporary employees is also fixed but they do not get any benefit.RECOMMENDATIONS:Although the overall internship experience at TCS was so remarkable. The whole HR team of this organization was very cooperative throughout my internship tenure. The only thing that should be done during internship at TCS is that it should provide the facility of rotation within a department i.
e. if an intern is hired in HR department, he/she should be rotated in all departments within HR so that he/she will get to know the HR department as a whole.
