SSP (India) Pvt Ltd - Intern Scheme

August 2011

SSP Internal Use Only

Intern Scheme
SSP will bring in fresh MCAs/BEs with an objective
To induct fresh brains into SSP To prepare them to be part of SSP family by providing them training on Insurance Business, its Products and the Technology. To provide with on-the-job training by deploying them onto projects for development or testing. To absorb them against a requirement within SSP, if the performance is found satisfactory.

Intern Category #1
Those who have to do 6 months internship as part of their curriculum.

Intern Category #2
Those who have completed their education.
SSP Internal Use Only

Intern Scheme
Intern Category #1 (for 6 months)
Provide classroom/on-the-job training Annual compensation of Rs 100K Evaluate performance If performance is found satisfactory, Intern will move to the next step and will be offered a salary of RS 200K on completion of education Post 6 months an Intern will continue to work as-is till s/he is taken on board against a permanent position or one year whatsoever is earlier..

Intern Category #2
Provide classroom/on-the-job training Annual compensation of Rs 200K Evaluate performance Will continue to work as an Intern till s/he is taken on board against a permanent position.
SSP Internal Use Only

Intern Evaluation
Evaluation criteria
Academic scores SSP conducted Aptitude Test scores SSP conducted training performance Scores in relevant Certification/s. SSP encourages its people to learn and earn certification/s

A Slate will be created on above specified criteria. This Slate will be used in deciding the order in which an Intern will be offered a permanent SSP position.

SSP Internal Use Only

Absorption as an Employee
Absorption will be against an approved Personnel Acquisition Request (PAR) and only if the Intern meets the requirement.
First Intern on the Slate will be offered the job. Intern has an option to either accept the permanent position or decline and continue to work as an Intern. In case the first Intern does not accept the position, it will be offered to the next Intern on the Slate till there is a person in the pool. On acceptance of the offer, an Appointment Letter will be given with an increase in compensation to 2.4L
SSP Internal Use Only

Interns growth path once they are made Permanent

Below is pegged to their becoming permanent employee
S# 1 2 3 4 Month 0 Appraisal Cycle -1 Appraisal Cycle 2 Appraisal Cycle - 3 Annual Salary 240000 270000 300000 As other employees (performance based)

Eligibility Criteria for Appraisal Cycle-1 (S#2) :Those who have been made permanent at least 3 months before the next increment cycle. Example eligibility for July cycle only if the person was made permanent on/before 1-Apr.

Reason for non-absorption against a PAR could be

Intern did not accept the position SSP does not have any open PAR SSP does not have requisite position to match the skill set of an Intern, although s/he is the next person on the Slate

SSP Confidential

Intern growth path if they are not made permanent

Exceptional Treatment :1. Those who are not absorbed against a PAR for a year, will be brought up to the next level of increment. Example intern joined in July10 at 2L - not positioned against a PAR till 30-June-11, will get a salary raise of 2.4L in July-11. - still not positioned by next year 30-June-12 will get a salary raise of 2.7L in July-12. 2. Those who are next in the slate, yet cannot be offered due to difference in their current technology (VB, JAVA) or stream (Dev, Testing) Example Intern joined in July10 at 2L, had to let go of a position due to above. Will be given a salary raise as per eligibility criteria from the day PAR was approved.

SSP Confidential