netrashetty
Netra Shetty
American Home Mortgage Investment Corporation (Pink Sheets: AHMIQ) was the 10th largest retail mortgage lender in the United States and was structured as a real estate investment trust (REIT).
It has filed for bankruptcy.[1]. The company stated that it was focused on earning net interest income from self-originated loans and mortgage-backed securities, and through its taxable subsidiaries, from originating and servicing mortgage loans for institutional investors.
Mortgages were originated through the company's employees as well as through mortgage brokers and purchased from correspondent lenders and were serviced at the company's servicing center in Irving, Texas.
The company filed for Chapter 11 bankruptcy protection in Wilmington Delaware federal court, on August 6, 2007. The week before the filing, the company said that many of its lenders had demanded their money back, and that AHM was also unable to deliver on about US$ 800 million in commitments for housing loans, and had laid off nearly ninety percent of its 7,000 employees
MANPOWER COMPOSITION The total manpower strength of Genus Overseas Electronics
Limited is 850, which includes all the employees from top-
level management to the ground staff. The number of
unskilled labour force is 100 out of the 845, as the manpower
of the organization mainly constitutes of skilled engineers and
MBA’s from reputed institutes with extensive work
experience.
The employee turn over ratio was slightly high last year due
to some internal problems, but now it’s balanced. There is no
particular season for the recruitment in the organization, it is
done as and when the need arises and according to the orders
which the company gets. Recruitment planning is done by the
HR department on a regular basis, which informs about the
manpower requirement of the company.
SOURCES OF RECRUITMENT Recruitment is basically attracting the potential candidates for
employment. The company relies on internal sources as well
external sources for recruitment.
Internal sources for recruitment include promotions and lay-
offs; transfers are not induced, as the company is still new.
But company cannot rely on internal sources all the time as
the internal sources may dry-up in the due course of time and
sometimes it also leads to inbreeding, i.e. preventing outside blood to enter the organization. Hence the company also has to seek the external sources also for recruitment. External sources for recruitment are:- Media: Advertisements are posted in newspapers giving the job
description and the job specification; the suitable candidates
contact the company on the specified date and time.
Placement agencies and job websites: The company has also registered it self in numerous private
and govt. employment agencies which keep a record of a
number of candidates and those who suit the requirements of
the company are directed towards the organization for further
selection.
The co. also has tie ups with many job websites like:
naukri.com, monster.com, indiatimes.com etc. The co. posts
their requirements on the sites and the suitable candidates
may contact the company.
Campus recruitment: Through this method co. comes to the campus itself of
reputed engineering colleges and business schools and selects
the candidates by interviewing them or by some written tests
followed by group discussion and personal interview. This is a
very important source of recruitment for the organization, as
the co. requires highly skilled engineers and MBA’s, which can be directly picked from such reputed institutes. Recommendations: Sometimes the co. also relies on the recommendations staff members and recruits individuals. SELECTION PROCESS Selection process of the candidates involves an extensive 4 way process which includes: Filling of application form
Checking the references
Written tests
Interview
Firstly all the candidates are required to fill an application
form which includes basic information about the individual
e.g. name, address, age, sex, education, work experience,
interests, hobbies, references etc. It’s basically like a bio data.
Once, the application form is duly filled by all the candidates,
the candidates not suiting the requirement of the job are short
listed and those who are apt are further undergone with the
process.
In the second stage, the references, which are given by the
candidates, are checked via telephone, mails or sometimes by
personal meetings.
In the third stage, there are certain tests, which the candidates
need to qualify. These tests include aptitude test,
specialization tests, knowledge tests, IQ test, physiological
tests etc. These tests are conducted because Genus Overseas
Ltd. generally requires highly qualified personnel suiting the
requirements of the jobs. Once the tests are conducted, those
who qualify the tests are called for personal interview.
This is the last stage for selecting the employee. It includes an
extensive interview of the candidate by a jury panel. It’s a
detailed interview considering all the aspects of the job for
which the candidate is suited. Each and every aspect of the
job is considered and discussed upon. Sometimes more
rounds of interviews also may be carried out to further short
list the candidates depending on the nature of the designation
of the job.
And finally once the interview is conducted and the
appropriate candidate is selected for the job he is sent for a 3
to 4 days induction program in which he is familiarized with
the nature of job and the functioning of the organization.
It has filed for bankruptcy.[1]. The company stated that it was focused on earning net interest income from self-originated loans and mortgage-backed securities, and through its taxable subsidiaries, from originating and servicing mortgage loans for institutional investors.
Mortgages were originated through the company's employees as well as through mortgage brokers and purchased from correspondent lenders and were serviced at the company's servicing center in Irving, Texas.
The company filed for Chapter 11 bankruptcy protection in Wilmington Delaware federal court, on August 6, 2007. The week before the filing, the company said that many of its lenders had demanded their money back, and that AHM was also unable to deliver on about US$ 800 million in commitments for housing loans, and had laid off nearly ninety percent of its 7,000 employees
MANPOWER COMPOSITION The total manpower strength of Genus Overseas Electronics
Limited is 850, which includes all the employees from top-
level management to the ground staff. The number of
unskilled labour force is 100 out of the 845, as the manpower
of the organization mainly constitutes of skilled engineers and
MBA’s from reputed institutes with extensive work
experience.
The employee turn over ratio was slightly high last year due
to some internal problems, but now it’s balanced. There is no
particular season for the recruitment in the organization, it is
done as and when the need arises and according to the orders
which the company gets. Recruitment planning is done by the
HR department on a regular basis, which informs about the
manpower requirement of the company.
SOURCES OF RECRUITMENT Recruitment is basically attracting the potential candidates for
employment. The company relies on internal sources as well
external sources for recruitment.
Internal sources for recruitment include promotions and lay-
offs; transfers are not induced, as the company is still new.
But company cannot rely on internal sources all the time as
the internal sources may dry-up in the due course of time and
sometimes it also leads to inbreeding, i.e. preventing outside blood to enter the organization. Hence the company also has to seek the external sources also for recruitment. External sources for recruitment are:- Media: Advertisements are posted in newspapers giving the job
description and the job specification; the suitable candidates
contact the company on the specified date and time.
Placement agencies and job websites: The company has also registered it self in numerous private
and govt. employment agencies which keep a record of a
number of candidates and those who suit the requirements of
the company are directed towards the organization for further
selection.
The co. also has tie ups with many job websites like:
naukri.com, monster.com, indiatimes.com etc. The co. posts
their requirements on the sites and the suitable candidates
may contact the company.
Campus recruitment: Through this method co. comes to the campus itself of
reputed engineering colleges and business schools and selects
the candidates by interviewing them or by some written tests
followed by group discussion and personal interview. This is a
very important source of recruitment for the organization, as
the co. requires highly skilled engineers and MBA’s, which can be directly picked from such reputed institutes. Recommendations: Sometimes the co. also relies on the recommendations staff members and recruits individuals. SELECTION PROCESS Selection process of the candidates involves an extensive 4 way process which includes: Filling of application form
Checking the references
Written tests
Interview
Firstly all the candidates are required to fill an application
form which includes basic information about the individual
e.g. name, address, age, sex, education, work experience,
interests, hobbies, references etc. It’s basically like a bio data.
Once, the application form is duly filled by all the candidates,
the candidates not suiting the requirement of the job are short
listed and those who are apt are further undergone with the
process.
In the second stage, the references, which are given by the
candidates, are checked via telephone, mails or sometimes by
personal meetings.
In the third stage, there are certain tests, which the candidates
need to qualify. These tests include aptitude test,
specialization tests, knowledge tests, IQ test, physiological
tests etc. These tests are conducted because Genus Overseas
Ltd. generally requires highly qualified personnel suiting the
requirements of the jobs. Once the tests are conducted, those
who qualify the tests are called for personal interview.
This is the last stage for selecting the employee. It includes an
extensive interview of the candidate by a jury panel. It’s a
detailed interview considering all the aspects of the job for
which the candidate is suited. Each and every aspect of the
job is considered and discussed upon. Sometimes more
rounds of interviews also may be carried out to further short
list the candidates depending on the nature of the designation
of the job.
And finally once the interview is conducted and the
appropriate candidate is selected for the job he is sent for a 3
to 4 days induction program in which he is familiarized with
the nature of job and the functioning of the organization.