hdfc life insuramce

8/10/2019 Hdfc Life Insuramce

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PREFACE

People are a companys most important assets. They can make or break the

fortunes of a business. In todays highly competiti e business en ironmentplacing the right people in the right position is ery critical for the success of any organi!ation. The recruitment and selection decision is of primeimportance as it is the ehicle for obtaining the best possible person"to"#ob fitthat $ill% contribute significantly to$ards the company&s effecti eness. It isalso becoming increasingly important% as the company e ol es and changes%that ne$ recruits sho$ a $illingness to learn% adaptability and ability to $ork

as part of a team. The recruitment ' selection procedure ensures that thesecriteria are addressed.

In this pro#ect I ha e studied recruitment and selection process of ()FCstandard life insurance and attempted to pro ide some $ays so as to makerecruitment more effecti e and to reduce the cost of hiring an employee.The efforts in this report ha e been aimed at articulating and systemati!ingthe definite conceptual core of recruitment and selection for de elopinghuman resources planning. The report illustrates a collection of differentdeliberate steps and criteria for selecting the employee in a particularorgani!ation. Research based on se eral distinct approaches to identify andde elop best $ay to select the right people at the right place. )uring thetraining period i ha e studied deeply the process of hiring in ()FC standardlife insurance and did a s$ot analysis of ()FC standard life insurance tofind out the e*isting shortcomings and potential threats and thereby

recommended suggestions. The te*t for the report is the result of the processof research and effort in the ()FC recruitment phenomena.

Anuradha chatur edi

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AC+,- /E)0E1E,T

First and foremost I $ould like to e*press my profound gratitude andesteemed regards to )irector sir of 2her$ood College of 1anagement% Prof.%)r. 1r. 2. + Chatur edi. A ote of thanks goes to my respected faculty mam1rs. 2hilpi 3auhari for her support and guidance. 2he has been constantsource of strength and inspiration and deser es my heartfelt gratitude andthanks.

I $ould like to ackno$ledge the support and cooperation to 1r. A#ay kumaras (R manager% he guided me in this pro#ect and sho$n keen interest andpro ided aluable guidance to complete this $ork and pro ide e*perience.

Anuradha chatur edi

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)EC/ARATI-,

I Anuradha chatur edi here by that research $ork presented in this pro#ectreport entitled 4RECR5IT1E,T A,) 2E/ECTI-, I, ()FC 2/IC 6 forthe fulfillment of the a$ard of master business administrati e from 5ttarPradesh technical uni ersity% /uckno$ is based on my $ork during thesummer training in the 4()FC standard life insurance company6. Thepro#ect embodies the result of original $ork and studies carried out by meand the contents of the pro#ect do not from the basis for the a$ard of anydegree to me or to any body else.

Anuradha chatur edi

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C-,TE,T7

Chapter 8. I,TR-)5CTI-, linkage of recruitment and selection to the human resource

ac9uisition::::::::::::::.::::::.; -b#ecti e ::.........................................................................


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EGEC5TIHE 2511AR

-rgani!ations are al$ays on the look out for good candidates $ho ha e there9uisite skills to perform aried #obs. 2hortage of skilled manpo$er% todaythreatens the ery competiti e positioning of many corporations and thesituation is not getting any better. Thus to sort out the talented is a multi stepprocedure $hich is performed through the follo$ing steps.

2creening Aptitude test

Inter ie$s Herification of documents

hole criteria used to take appro*imately < to > days ma*imum and usuallycan be thoroughly finished $ithin in one day. After the selection of rightcandidates at right place at right time% organi!ation pro ided offer letter andappointment letter.

Report based on the findings and facts of duration of the recruitment and2election% stability and retaintion of the employee. To e aluate data related tothese facts% 9uestionnaire are prepared and filled $ith the sample si!e >=.

2ome other key issues being faced by organi!ations are J

1a#ority of the people hired turn out to be under performers. Cost of replacing manpo$er is anything bet$een < to > times his or

her salary. The cost of consistently failing to attract and retain good talent J

including declining producti ity% morale% culture and reputation " isinestimable.

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Each acant position in any organi!ation costs a huge amount to it. 0etting the best talent% and keeping the talent you ha e is becoming

increasingly and intensely competiti e 1ost corporate officers saythat the biggest constraint to pursuing gro$th opportunities is talent

TRAI,I,0 P-/IC 7-ptimum utili!ation of e*isting resources and enhancing producti ity.@ridge the skill gap Jfunction ' managerial arising from career gro$th 'technological ad ancements.

)e elop multi skilled $ork force for o er all business perspecti e

process orientation ' fle*ibility in there de elopment. ,ature talent to de elop leadership across all le els of the

organi!ation. pro ide multiple learning opportunities to employees ' help them

reali!e their full potential Prepare the organi!ation to anticipate 'lead change. Promote the $ork ethos% $hich emphasi!e performance orientation%

participation% ' inno ation. 1anagement is committed to pro ideopportunities to all employees% time 'resources to de elop their fullpotential.

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C(APTER 8.

I,TR-)5CTI-,

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I,TR-)5CTI-,

(uman Resource is a basic need of any $ork to be done. According to ART(5R /E I27

There are great differences in development between countries which

seem to have roughly equal resources, so it is necessary to enquire into the

difference in human behaviors

The pro#ect report is all about recruitment and selection process thats an importantpart of any organi!ation. Recruitment highlights each applicants skills% talents ande*perience. Their selection in ol es de eloping a list of 9ualified candidates%defining a selection strategy% identifying 9ualified candidates% thoroughly e aluating9ualified candidates and selecting the most 9ualified candidate. It is said if rightperson is appointed at right place the half $ork has been done. In this pro#ect I ha etried to co er all the important point that should be kept in mind $hile recruitmentand selection process and ha e conducted a research study through a 9uestionnairethat I got it filled $ith all the sales departments employees of the ()FC standardlife insurance and tried to find out $hich methods and arious other information

related to recruitment and selection and tries to come to a conclusion at $hat timemostly the manpo$er planning is dont % $hat the arious method used forrecruiting the candidates and on $hat basic the selections is done.()FC has a $ell"articulated e9ual opportunity policy% $hich lays strong emphasison hiring of indi iduals irrespecti e of age% race% caste or gender. As a best practicein recruitment.

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/I,+A0E -F RECR5IT1E,T A,) 2E/ECTI-, T- T(E(51A, RE2-5RCE ACK5I2ITI-,7

Recruitment process is concerned to search and identify the humanmanpo$er and perfect human resources. 2election can be conceptuali!ed interms of either choosing the fit candidates or re#ecting the unfit candidates%or a combination of both.

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1anpo$er planning and3ob analysis

Recruitment

2election

Placement


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C-,CEPT -F RECR5IT1E,T 2E/ECTI-, 7

After the identification of need for the number and types of the personnel asindicated by manpo$er planning and #ob analysis% the step is to ac9uire thesepersonnel this in ol e location of such personnel% moti ating them to offerthemsel es for consideration for selection% and selecting the personnel $ho fit$ith organi!ational and #ob re9uirements. The $hole process is kno$n asrecruitment and selection.

RECR5IT1E,TL Recruitment is the process concerned $ith the identification of sources from$here the personnel can be employed and moti ating them to offerthemsel es for employment. erther and )a is ha e defined this as follo$s74Recruitment is the process of finding and attracting capable applicants foremployment. The process begins $hen ne$ recruits are sought and ends$hen their applications are submitted. The result is pool of applicants from

$hich ne$ employees are selected.6

2E/ECTI-,7

2election can be conceptuali!ed in terms of selecting the appropriatecandidates% or deny the inappropriate candidates. 2election in ol es bothbecause it picks up the fits and re#ects the unfits. In facts% in Indian conte*t%

there are ore candidates $ho are re#ected than those $ho are selected in mostof the selection processes.

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Therefore% sometimes% it is called a negati e process in contrast to positi eprogramme of recruitment. A formal definition of selection has beenpro ided by 2tone as follo$s7Mselection is the process of differentiating bet$een applicants in order toidentify and heirD those $ith a great likelihood of success in #ob.6

2election process assumes and rightly so% that there are more number of candidates a ailable than the number of candidates actually selected. Thesecandidates are a ailable through recruitment process.

To ensure that our recruitment process is fair and consistent% all candidates$ho are successful at the e*ams are in ited for a capability based inter ie$.Inter ie$s are based against capabilities% re9uired for each position for$hich the candidate is inter ie$ed for. A capability or competency is anability described in terms of skills ' beha iors that are essential to effecti elyperform $ithin a #ob.

Apart from the educational and academic capability% the chief attributes()FC 2/I looks out for in a candidate are as follo$s7

e look out for a candidate $ho alues Integrity (as a !eal for E*cellence Is focused on Results Is 2elf dri en and Enthusiastic

Is a good /earner and Team Player Is dedicated to Customer 2atisfaction

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RECR5IT1E,T PR-CE)5RE

,ormally% an organi!ation can fill up its acancies either through promotionof people a ailable in the organi!ation or through the selection of peoplefrom outside. Thus% there can be t$o sources of supply of manpo$er"e*ternaland internal. For all recruitment% a preliminary 9uestion of policy considersthe e*tent to $hich it $ills emphasis e*ternal and internal sources. The9uestion is not of Meither or but is one of relati e importance of both sourcesbecause e ery organi!ation has to fill up some through promotion and% in thesome $ay% e ery organi!ation has to fill up some acancies through outsiders.2election of particular source of manpo$er supply depends on se eral factorsnumerated belo$7

The policy of taking candidates from outside and inside affects the attitudeand action of the people in the organi!ation. Filling up the position throughinternal promotion has a fa orable reaction among employees. They arelikely to associate themsel es $ith the organi!ation as they see their futuresecured in the organi!ation through promotion. (o$e er% this may result into

mediocre performance as a guarantee of promotion itself $ill bringcomplacency. The le el of sociali!ation re9uired and time taken for that determines theinside or outside source of recruitment. If the sociali!ation process for an

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organi!ation operating in a particular industry takes substantial time% it canprefer internal source of recruitment.People selected from outside take time to sociali!e themsel es $ith an

organi!ation. For certain #obs% this process may take considerably longertime. For e*ample% marketing e*ecuti e of a consumer product company $illtake less time in sociali!ation in another consumer product company butmore time in capital goods industry. 2ame is the case $ith production peoplebut finance people may take same time in spite of the differences andsimilarities of organi!ation. The need for originality and ne$ ideas also affectne$ policy. The organi!ations $hich place high importance on these factorsgo for outsides sources. 2imilarly% the organi!ations $hich gro$ through

di ersification gi e more importance to outside sources as e*isting peoplemay not be fully e9uipped to handle ne$ business. These factors are considered $hile determining the sources of recruitment.hile acancies through internal sources can be filled up either throughpromotion or transfer% recruiters tend to focus their attention on outsidesources. ,ormally follo$ing outside sources are utili!ed for differentpositionL

Ad ertisement7 Ad ertisement is most effecti e means to search potentialemployees from outside the organi!ation. Employment ad ertisement in #ournals% ne$spaper% bulletins% etc% is 9uite common in our country. @y meansof ad ertisement% the organi!ation able to communicate its re9uirement of people some of $hom may be its prospecti e employees. An ad ertisementcontains brief statement of the nature of the #obs% the type of people re9uired%and procedure for applying for these #obs.

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-n campus recruitment7 many organi!ation conduct preliminary search of prospecti e employees by conducting inter ie$s at the campuses of ariousinstitutes% uni ersities and colleges. This source is 9uite useful for selectingpeople to the post pf management trainees% technical super super isor%scientist and technicians. The organi!ations hold preliminary inter ie$s onthe campus on the predetermined date and candidates found suitable arecalled for further inter ie$s at specified place.

/abour union7 in many organi!ations% lobour unions are used as source of

manpo$er supply% though at the lo$er le els. The idea behind employeerecommendations as a source of potential applicants is that presentemployees may ha e specific kno$ledge of the indi iduals $ho may be theirfriends% relati es% or ac9uaintances. If the present employees are reasonablysatisfied $ith their #obs% they communicate their feelings to many people intheir communities.

Employment agencies7 many organi!ations get the I formation about theprospecti e candidates through employment agencies. In our country t$otypes of employment agencies are operating7

Public employment agenciesPri ate employment agencies

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Though both of these perform acti ities regarding

employment suggestions to their clients% often they differconsiderably7

Public employments agencies" there are employment e*change run by

the go ernment all most in all district. The employment seekers getthemsel es registered $ith these e*changes. ,ormally such e*changespro ide candidates for lo$er positions like semi skilled and skilled$orkers% and lo$er le el operati es like clerks% #uniors super isors%etc.

Pri ate employment agencies" there are consultancy and

employment agencies like A@C consultants% personnel andproducti ity ser ices etc.% $hich pro ide employment ser icesparticularly for selecting higher le el and middle le el e*ecuti es.These agencies also take total function of recruiting and selectingpersonnel on behalf of arious organi!ations. They charge fee for thispurpose.

)eputation7 1any organi!ations take people on deputation from otherorgani!ation. 2uch people are gi en choice either to return to their originalorgani!ation after a certain time or to opt for present organi!ation. At theinitial de elopment of public sector organi!ations% this source is 9uite

common for filling managerial acancies in these organi!ations. People fromci il and defense ser ices $ere put on deputation in these organi!ations.-rgani!ations promoted by arious industrial groups also us this source tofill higher managerial positions. People $orking in one organi!ation aredeputed in another belonging to same industrial house.

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Employee recommendations7 employee recommendations can be consideredto employee personnel particularly at the lo$er le els. The idea behindemployee recommendation as a source of potential applicants is that thepresent employees may ha e specific kno$ledge of the indi iduals $ho maybe their friends% relati es and ac9uaintances. If the present employees arereasonably satisfied $ith their #obs% they communicate their feeling to manyperson in their communities.

0ate hiring7 the concept of gate hiring is to select people $ho approach ontheir o$n for reemployment in the organi!ation. This happens mostly in thecase of unskilled and semi skilled $orkers. 0ate hiring is 9uite useful andcon enient at the initial stage of the organi!ation $hen large number of people may be re9uired in the organi!ation. It can be made effecti e by theprompt disposal of applications% by pro iding information aboutorgani!ation policy and procedure regarding such hiring and pro idingfacilities to such gate callers.It is not that particular organi!ation $ill utili!e all sources of employ people

of all types. 2ome of sources are more useful for particular category of employees. For e*ample% ad ertisement and deputation are more useful foremploying managerial personnel. 2imilarly labour union and gate hiring aremore suitable to employ labour and unskilled person. 5tili!ation of arioussources of recruitment should be e aluated in terms of the degree of successin obtaining competent people. Post record in this conte*t may be usefulindicators. 2ince there are different category of employee to be selected%different sources of recruitment are used. For e*ample% according to thestudy by Rudra asa ara#% a public sector undertaking in hea y engineeringrecruited its non"super isory staff through7

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employment e*change e*ternal ad ertisement

internal ad ertisement central training institute introduction by liaison officer of the undertaking deputation of personnel transfer from other public sector undertaking

According to this study% the ma#or sources of recruitment in public sector

undertaking are in the follo$ing order7

casual caller or employment seeker ne$spaper ad ertisement schedule cast and schedule tribes employment e*changes other public undertaking internal ad ertisement displaced persons relati es and friends of present employees employee recommendation colleges and uni ersities

The ma#or sources of recruitment for pri ate sector of organi!ations are7

ad ertisement employment e*changes relati es and friends casual caller

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employee recommendation

2E/ECTI-, PR-CE)5RE7

A selection process in ol es a number of steps. The basic idea is to solicitma*imum possible information about the candidates to ascertain theirsuitability for employment. 2ince the type of information re9uired forarious positions may ary% it is possible that the selection process may ha edifferent steps for arious positions. For e*ample% more information isre9uired for the selection of the managerial personnel as compared to$orkers. 2imilarly% arious steps of selection process may be different forarious organi!ations because their selection practices may differ. Fore*ample% some organi!ation conduct selection tests of arious types $hileothers may not use these. (o$e er standard selection processes ha e

follo$ing steps7

8. 2creening of application7 Prospecti e employees ha e to fill up some sort of application form. These forms ha e ariety of information about applicantslike their personal bio"data% achie ement and e*perience etc. suchinformation is used to screen the applicants $ho are found to be 9ualified forthe consideration of the employments. The information may also be used tokeep permanent records of those persons $ho are selected. @ased on thescreening of application% only those candidates are called for further processof selection $ho are found to be meeting to the #ob standards of theorgani!ation. hen the numbers of applicant meeting the #ob standards far

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e*ceed the actual re9uirement% the organi!ations decide a suitable number of candidates $ho $ill be called for further selection process.

. Inter ie$7 2election test are normally follo$ed by personal inter ie$ of candidates. The basic idea is to find out o erall suitability of candidates forthe #obs. Its also pro ide opportunity to gi e rele ant information aboutorgani!ation to the candidates. In many cases% inter ie$ of preliminarynature can be conducted before the selection process.For e*ample% in the case of campus selection% preliminary inter ie$ is heldfor short listing the candidates for further process of selection.

. Checking of references7 1any organi!ations ask the candidates to pro idethat names of referees from $hom more information about the candidatescan be solicited. 2uch information related to character% $orking% etc. theusual referees may be pre ious employers% person associated $ith theeducational institutions from $here the candidates recei ed the education% orother person of prominence $ho may be a$are of the candidates beha iorand ability. In our country% references are not gi en ade9uate importancebecause of their biasness but these can gi e ery useful information $hichmay not be a ailable other$ise.

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may range from three months to t$o years. )uring this period% they areobser ed keenly% and $hen they complete this period successfully% theybecome the permanent employees of the organi!ation.

-@3ECTIHE

To study the arious sources of recruitment $hich is follo$ed in ()FC

2TA,)AR) /IFE I,25RA,CE To analy!e the a erage time taken in recruitment and selection by different

department in ()FC standard life insurance. To study the procedure in ol e in ()FC standard life insurance to recruit

and select people. To analy!e the turno er percentage of ()FC standard life insurance.

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2C-PE A,) /I1ITATI-,

The pro#ect $ork that needs to be accomplished to deli er aproduct% ser ice% or result $ith the specified features and functions. Thisreport includes 9uantitati e and 9ualitati e data relating on recruitment andselection. Pro#ect report used to focus on the recruitment and selection of the4Right people at right place at right time6.

The main scope of pro#ect report is (R Planning% $hich is applied properly in the field of (R 1anagement% it $ould assist to address the follo$ing

9uestions It helps to decide the number of staff $hich is re9uired in the

organi!ation. It helps to decide the skills and abilities of the candidates i.e.

re9uired in the Company. It recommended the best utili!ation of the a ailable human

resources. It also pro ides the idea to organi!ation to retain the employee.

/I1ITATI-,2

Problems Faced )uring the Pro#ectD

4/ife is full of comple*ities% di ersities and ad entures6.

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The more you li e% the more your find yourself grasped in these comple*itiesof life. To be a successful person% one has to cross the hurdles of thesecomple*ities and belie e that they are ad entures $hich are to be e*plored.2imilarly% follo$ing $ere the set of hurdle or limitations $hich $ere faced byme before I could arri e at the successful completion of this.

8. Time consuming acti ity7"

(RP collects information from all departments% regarding demand and

supply of personnel. This information is collected in detail and each ande ery #ob is considered. Therefore the acti ity takes up a lot of time.


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1ET(-)-/-0 The $ay in $hich research is conducted to adopt different research strategy employed and the research instruments utilised and perhaps de elopedD in

the pursuit of a goal J the research ob#ecti e sD " and the 9uest for the solution of a problem " the research 9uestion. The purpose of this is to7

e*pand the research strategy% including the research methodologies $hich

are adoptedL introduce the research instruments that $e ha e de eloped and utilised in the

pursuit of our goals.

2-5RCE2 -F )ATA)ata constitute the foundation for statistical analysis. hen statistical dataare collected and analy!ed it is usually in a conte*t of population and theircharacteristics. It should be noted that a population is the totality of the unitsunderstudy and a population characteristics is an attribute of a populationunit.

)ata are of mainly t$o types based on collection method7

8. Primary dataL primary data are obtained by study specifically designed tofull fill the problem at hand. 2uch data are original in character and are

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generated in large number of sur ey conducted mostly by researcher himself or institutional researcher bodies.

)irect personal inter ie$s7 under this method of collecting data there is aface to face contact $ith the person from $hom the information is to beobtained kno$n as respondents or informantsD. The inter ie$er asked them9uestions pertaining to the sur ey and collects the desired information.

Indirect oral inter ie$7 under this method of collecting data in estigator

contacts third parties called $itness. Those are capable of supplying thenecessary information. The method is generally adopted in those cases $here

the information to be obtained is of the comple* nature and the informantsNrespondents are not inclined respond is approach directly.

Information from correspondents7 under this method the in estigatorappoints local agent or correspondents in different places to collectinformation. The corresponded collects and transmits the information to thecentral officer $here the data are processed.

1ail 9uestionnaire method7 under this method a list of 9uestions pertainingto the sur ey kno$n as 9uestionnaireD is prepared and sent to the ariousinformants by post. The 9uestionnaires contain 9uestions and pro ide spacefor ans$er. Re9uest is made to informants through a public through a publicletter to fill up the 9uestionnaire and sent it back $ithin specified time.

2chedules sent through enumerates7 another method pf collectinginformation is that of sending schedule through the enumerate rodinter ie$er. The enumerator contact the informants get replies to the9uestions contained in the schedule and fill then in their o$n hand$riting inthe 9uestionnaire form.

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= $ith the format of 9uestionnaire of


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Personal inter ie$ $ith candidates In depth con ersation $ith the placement agency 2econdary data7

2tudy of recruitment policy ebsites Published articles Research methodology used

2tudy of recruitment and selection at ICICI Prudential /ife Insurance

by the manual pro ided by the (R department eb sites 3ournals 1aga!ines @ooks

(ere mainly 9uestionnaire has prepared $ith


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period that instruments are manual as $ell as electronic. Theseinstruments are LTelephonePaper recordComputer aided% soft$are etc.

C(APTER


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I,25RA,CE

1I22I-,7

-ur mission is to be 4a orld Class Indian @ank6% benchmarking oursel esagainst international standards and best practices in terms of productofferings% technology% ser ice le els% risk management and audit 'compliance. The ob#ecti e is to build sound customer franchises acrossdistinct businesses so as to be a preferred pro ider of banking ser ices fortarget retail and $holesale customer segments% and to achie e a healthygro$th in profitability% consistent $ith the @anks risk appetite. e arecommitted to do this $hile ensuring the highest le els of ethical standards%professional integrity% corporate go ernance and regulatory compliance.

Hision7

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@y


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All the banks in India $ere earlier pri ate banks. They $ere founded in thepre"independence era to cater to the banking needs of the people. @ut afternationali!ation of banks in 8; ; public sector banks came to occupydominant role in the banking structure. Pri ate sector banking in Indiarecei ed a fillip in 8;; $hen Reser e @ank of India encouraged setting up of pri ate banks as part of its policy of liberali!ation of the Indian @ankingIndustry. (ousing )e elopment Finance Corporation /imited ()FCD $asamongst the first to recei e an &in principle& appro al from the Reser e @ank of India R@ID to set up a bank in the pri ate sector.

@A,+I,0 ' I,25RA,CE

India is one of the fastest de eloping economies amongst the third $orldcountries. To achie e such a feat is no child&s play. hether it is de elopment

in the agricultural sector or the gro$th of industries% rise in IT or increase inthe rate of real estate% nothing $ould ha e been possible $ithout intricateplanning and management of funds. This section pro ides links to the $ebsite of some of the ma#or banks 'insurance companies in the public sector in India.

@A,+

)EFI,ITI-,

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The definition of a bank aries from country to country. 2ee the rele antcountry page belo$D for more information. 5nder English common la$% abanker is defined as a person $ho carries on the business of banking% $hichis specified as7

conducting current accounts for his customers

paying che9ues dra$n on him% and

Collecting che9ues for his customers.

In most English common la$ #urisdictions there is a @ills of E*change Actthat codifies the la$ in relation tonegotiable instruments% includingche9ues%and this Act contains a statutory definition of the term banker7 bankerincludes a body of persons% $hether incorporated or not% $ho carry on thebusiness of banking& 2ection


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of banking. (o$e er% in many cases the statutory definition closely mirrorsthe common la$ one. E*amples of statutory definitions7 banking business means the business of recei ing money on current ordeposit account% paying and collecting che9ues dra$n by or paid in bycustomers% the making of ad ances to customers% and includes such otherbusiness as the Authority may prescribe for the purposes of this ActL@anking Act 2ingaporeD% 2ection months ...or $ith a period of call or notice of less than that period.


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A bank is afinancial intermediary that acceptsdeposits and channels thosedeposits intolending acti ities% either directly or throughcapital markets. Abank connects customers $ith capital deficits to customers $ith capitalsurpluses.

@anking is generally ahighly regulated industry% and go ernmentrestrictions on financial acti ities by banks ha e aried o er time andlocation. The current sets of global bank capital standards are called@asel II.In some countries such as0ermany % banks ha e historically o$ned ma#orstakes in industrial corporations $hile in other countries such as the5nited2tates banks are prohibited from o$ning non"financial companies. In3apan%

banks are usually the ne*us of a cross"share holding entity kno$n as thekeiretsu.

The oldest bank still in e*istence is1onte dei Paschi di 2iena% head9uarteredin 2iena%Italy% $hich has been operating continuously since 8 8% corporate agentsand other sales intermediaries including banks for distribution of insuranceproducts.

PR-)5CT RA,0E A,) HARIET

At ()FC 2tandard /ife% $e offer a bou9uet of insurance solutions to meete eryneed. e cater to both% indi iduals as $ell as to companies looking topro idebenefits to their employees. This section gi es you details of all our products.e ha e incorporated arious do$nloadable forms and product details so that youcan make an informed choice about buying a policy.

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schedule% the co er the policy decreases as per the policy schedule. 2ince thisis non participating% risk is there%no benefit are payable on sur i al to theend of policy.


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5nit kinked youngter plan

()FC 5nit linked oung 2tar plan is designed to pro ide a lump sum tothechild at maturity. It also pro ides financial security to the child in hisfuture%e en in case of the insured parents unfortunate death during thepolicy term.The 5nit linked oung 2tar plan also gi es the option of additional protectionagainst the si* common critical illnesses. ourpremiums are in ested in unitsof the in estment funds of your choice% basedon the pre ailing unit price. -nmaturity the alue of the units $ill be paid.-n death or critical illness% ifchosenD the selected basic sum assured is paid%

and the policy continues until maturity.

2 -T A,A/ 2I2 -F ()FCL

2trengths

()FC @ank is second largest pri ate bank in India% ha ing 8 8< @ranchesand o er >< B AT1s across B


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At 1arch end as on


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-nline fund transfer%

online payments of ta*es

phone banking

internet banking

E"shopping

EA+,E227

In this booming market $here $e need to capture the mind of customer bypro iding them $ith ne$ global facility and ser ice should be a ailablee ery$here .if $e talk about 2@I it ha e > AT1s 5@I 8? AT1s $here as()FC @ank has only AT1s and > @ranch.

2ome customer are not satisfied about banking ser ice and facilitiesIt ha e not goods channels in rural and semi" urban area it $as totally co er

to city and multi"city area. @ut nationali!ed bank co er total area.

It ha e only 8% 8< branches across only B


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()FC @ank has ICICI%I)@I%AGI2%2@I%P,@%@-@%5@I% Ing"Hesya%2tanCharter % A@,"A1R-%and CIT @A,+%as competitors $hich are morepo$erful in terms of secured market.

-PP-RT5,IT 7

here all banks re facing problems /ehman brothers% @ank of America %1errill lynch $as insol ency all o er $orld economic condition is erybad .market $as be decrease day"by"day. ()FC is a bank $hich is strongenough to run properly in this competiti e market.

As being a pri ate sector bank it is fresh from all kinds of rumors o it has gota ne$ channel to makes its reputation before customer.For e*ample many international banks ha e faced a tragedy of being defamein the ie$ of customers.

()FC @ank can ser ice is ery goods compare the other pri ate sector andnationali!ed bank. It can pro ide the easy loan facility to the customer anda make a proper good$ill.

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It has nice chance to spread its branches o er small city and sub"urban o erof India.

)omestic consumption continues to dri e gro$th. India is e*pected to beleast impacted due to the global slo$do$n due to its di erse economic baseand fa orable demographics. The Company has focused on direct toconsumer lending% inno ati e structuring of credit solutions% strong processesand prudent risk management. The company follo$s a micro marketapproach to geographic segmentation of markets.The company plans to e*pand its product portfolio by adding 0eneral

Insurance ser ices and In estmentX 2a ings Products such as sale of 1utualfunds to its portfolio.

Threat7

Irrational pricing% lenient credit norms in the past ha e led to increase in,on"performing assets across the retail lending space.

The markets $ill continue to mature leading to rising e*pectation fromconsumers and your Companys gro$th $ill depend on its ability todifferentiate its productsX 2er ices to compete effecti ely.

0ro$th of the companys asset book% 9uality of assets and ability to raisefunds depends significantly on the economy. 5nfa orable e ents in the Indianeconomy can affect consumer sentiment. Changes in 0o ernment policy%regulatory frame$ork could impact the companys operations.

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Recently many pri ate banks ha e faced a great losses and someinternational banks $as insol ency due to bad economic condition .and no$they $ill be in the market $ith different strategy so no$ to look for theinno ation and try to find out the $eakness of these banks.

2till ()FC (a e not got a ery good ser ice channels so it% needs to impro eits ser ice and increase the no. of its channels ()FC @ank staff is ery fe$according to customer ser ice compare to other banks so it need to increaseour staff and open ne$ branch recently.

A AR)2 A,) ACC-/A)E27

1ay%


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AAAID. The radio commercial MPata nahin chala touched se eral changes inlife in the blink of an eye through an old mans perspecti e. The ob#ecti e$as dri e a$areness and ask people to in est in a pension plan to li e life tothe fullest e en after retirement% $ithout compromising on ones self"respect.

/aadli 1edia A$ard


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25RHE F-R 3-@ PR-FI/E 2A/E2 )EPART1E,TD

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The use of tests in selection is so $ide spread that these may be classifiedin arious steps they may ha e different ob#ecti es and different attributes.

2earching criteria72earching criteria means to collect a mass of appropriate candidates throughthe follo$ing reference7

"Consultancy7consultancy is an organi!ation $hich used to pro ide the number of

candidates. Those candidates% $ho are eligible for respecti e post% pre iouslycollect their CHs to the consultancy to #ob reference. Consultancies used to

bind contact to the organi!ation for sending candidates for respecti e acantpost re9uired in the organi!ation. Consultancies #ob is to gi e line"upcondition of number of candidates applicable for #obD. /ine"up should beupdated e eryday through proper calling and contacts during the process of recruitment.

"Ad ertisement7Ad ertisement is as usually is to pro ide route to organi!ation for candidates.Ad ertisement is a perfect mode to disseminate the kno$ledge of #ob profile.

"Employee reference7Employees of organi!ation refer candidates for a ailable re9uired posts.

"Campus selection7-rgani!ations select candidates from educational and professional instituteto full the re9uirement of recruitment. Those candidates are selected throughthe process of screening and inter ie$.

()FC PR-FI/E F-R T(E P-2T -F 2A/E2 )EHE/-P1E,T1A,A0ERL

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Company profile7 The Company started in


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Ahmedabad% arangal% +urnool% Anantapur% (yderabad N 2ecunderabad%1ysore% @engaluruN@angalore% 0untur% Ra#ahmundry% Hi#aya$ada%Hisakhapatnam% 1oradabad% 1adurai% Trichy% 1umbai% 1umbai 2uburbs%,a i 1umbai% @elgaum,o. of positions7 >< position in total one each at e ery location(o$ to apply7 2end your update Resume to the abo e mentioned EmailAddress% shortlisted candidates $ould be called for a personal inter ie$.ebsite7 http7NN$$$.hdfcinsurance.com

"CH screening7CH screening is the process to short out the candidates on their academic

profile etc. The goal of the resume screening process is to select the topcandidates that the recruiter $ill contact for the first round of inter ie$s. 2creening resumes $ill help you determine $hich candidates tomo e for$ard in the inter ie$ and selection process by comparing their9ualifications to the minimum position re9uirements.,arro$ing the list of candidates that apply for your position can bechallenging% especially if there are many 9ualified applicants. The first step$ith selecting appropriate candidates is to screen the co er letter if applicableD and resume of each applicant. The resume $ill tell you $hat thecandidate has done% but not ho$ $ell heNshe did it. "Application E aluation7The (uman Resources department e aluates all incoming applications%against prere9uisite abilities and skills set for all current openings. Allapplications are kept based on strengths and speciali!ation% for futurereference.

"2election test7

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As such type of test held in M()FC standard life is said as (AT ()FCaptitude testD. (ATs content is numerical and assumption based 9uestions%$hich is di ided in three part of test paper. (AT must be sol ed $ith in thehalf an hour. In such procedure 9ualified candidates are preceded for furthersteps i.e.% inter ie$.

"Capability based Inter ie$7An inter ie$ is a con ersation bet$een t$o or more people the inter ie$erand the inter ie$eeD $here9uestions are asked by the inter ie$er to obtaininformation from the inter ie$ee.

"Checking of references and documents7As such in selection and checking procedure for the post 2)1 in the M()FCstandard life all re9uired documents are collected in the brochure $hich saidto be 3oining +it.3oining kit contain all authentic information and some application formabout the candidates for #oining the post after passing the inter ie$% suchinformation and forms are as follo$s7

)ocuments related to 9ualification Age proof E*perience letter 2alary slip Address proof Application forms

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http://en.wikipedia.org/wiki/Questionhttp://en.wikipedia.org/wiki/Question


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"PlacementLAfter all formalities are completed% the candidates are placed on their #obinitially on probation basis. The probation period may range from threemonths to t$o years. )uring this period they are obser er keenly% and $henthey complete this period successfully% they become the permanent employeeof the organi!ation.

"Reply /etters7At all stages of the process candidates are kept informed of the status of theirapplication $ith an email reply letter.

"3ob -ffer7If a candidate successfully reaches the final stage% a position offering is madein con#unction $ith acompetiti e re$ard package.

Issuing of appointment letter and offer letter7 The procedure to issue offer letter and appointment letter is done by (R manager of that institute. (R managerMs #ob is to maintain 1I2 and

pro iding these letters. ,o$ a day all the functions are properly maintainedby the use of soft$are packages such as 2AP.

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http://www.hsbc.gr/1/2/en/hsbc-group/career-opportunities/benefits-rewardshttp://www.hsbc.gr/1/2/en/hsbc-group/career-opportunities/benefits-rewards


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Kuestionnaire7 Analysis based on the data of 9uestionnaire to therecruitment and selection in ()FC 2/IC A,) RE/I0ARE. 2A1P/E 2IOEI2 >=D

8. hat source your organi!ations adopt to select candidatesZ

Abo e graph sho$s that recruitment agency is most acti e organi!ation forthe better compensation of recruitment and selection. Further it is follo$edby the employee referral recruitment $hich is comparati ely lo$ inrecruitment agency.

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>. )o your organi!ation use any of the follo$ing tests during the process of recruitmentZ

Test is an appropriate criterion to dra$ out eligibility among mass of thecandidates. It depends on the post $hich criteria is appropriate to select andrecruit. Thus for the post of the sales mostly personal inter ie$ is preferredafter $ritten or aptitudes test.

. (o$ does your organi!ation track the source of candidateZ

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Finding source of candidates is usually manual. 1anual source refer an easyand con incing $ay to find and sort out the candidates.

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B. Apart from the (R 1anager% $ho all from the other departments are re9uired toget in ol ed in inter ie$ing processZ

For the post of sales like 2)1% @)1 etc usually the e*perience person belongto the department of sales and sales de elopment in ol e in the process of recruitment and selection of sales employee. Further it is follo$ed by the (R department or (R manager of the corporation to e*amine and utili!e theresources for sales de elopment.

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. hat is the a erage time spent by sales dept. during recruitment eachcandidateDZ

The alue of time in business must be e aluated for the profit ma*imi!ationsand proper utili!ation of human resources. Thus a department should ha eto take appropriate time for recruitment and selection. Abo e chart sho$s = min usually spends on the selection of each candidate.

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. hat is the a erage time spent by (R dept. during recruitment eachcandidateDZ

(R department plays a most important role during the recruitment andselection. This is because it is useful to e aluate the capacity and humanrange of mental and physical $ork in regard the position like sales. @utcompany used to spend ma*imum B to B= percent time of (R departmentduring the $hole process of selection.

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?. hat is the a erage time spent by Admin dept. during recruitment eachcandidateDZ

Chart sho$s it is the ma*imum time $hich is spent on sales recruitments bythe admin department.

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;. )o your organi!ation follo$ different recruitments process for different grades of employeeZ

Chart specifies that organi!ation apply same criterion and commontechni9ues for recruitment and de elopment.

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8=. hat is the back out percentage of candidates after being offeredZ

@ack out percentage reflect any fault in the procedure of recruitment andselection. Thats $hy candidates could not be stayed. Chart sho$s ma*imumis 8"B and minimum is 8="8B.

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88. hat percentage of candidates lea e $ithin the period of less than8" >monthZ

This is depend on the en ironment in the organi!ation% it used to e aluate thetime duration of employees settle in the organi!ation. Thus chart sho$s thatthe $orking en ironment of the organi!ation is moderately sufficient tosatisfy the employee i.e.upto BW at ma*imum $ithin 8 to > months.

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8" monthZ

1a*imum capacity of the e*isting organi!ation to sustain the employees $ithin 8 toB months is upto BW.

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8>. hat percentage of candidates lea e $ithin the period of less than "8.>>W.

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8 . Are you a$are of the concept of 4Hideo Resume6Z

-n the account of the financial capacity still organi!ations and employees donot a$are about the ideo resume i.e. ; . W. That may be costly for bothorgani!ation and candidates.

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8 . If the recruitment type is 4Employee Referral6 then ho$ much special

pri ilege has to be paid to the one $ho has referred is sufficientZ

It leads surety for the candidates capability for the organi!ation% if anyselection e*ists through the employee referral. Thus priority to such type of candidates ma*imum i.e. B>.>>W

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8?. In ho$ much time does the $hole process generates resultsZ

2creening% aptitude test% calling% recruiting etc take ma*imum 8 to < days forselection of the candidates in the sales department.

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8;. )o you do the 4Employment Eligibility Herification6Z esN,oIf yes% then% $hat method you take up to perform itZ

This sho$s the employees tendency and a$areness to$ards the kno$ledge of #ob description and #ob profile. 1a*imum numbers of employee doemployments eligibility erification through internally.

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FACT2 A,) FI,)I,02

-5TC-1E2 -F RECR5IT1E,T A,) 2E/ECTI-,PR-CE22

The ultimate ob#ecti es of both recruitment and selection are to ac9uiresuitable candidates but their immediate ob#ecti es differ. The basic ob#ecti eof recruitment is to attract ma*imum number of candidates so that moreoptions are a ailable the basic ob#ecti e of selection is choose the best of thea ailable candidates.

Recruitment differs from selection in terms of process. Recruitment adoptsthe process of creating application pool as large as possible and% therefore% itis kno$n as positi e process. 2election adopts the process through $hichmore and more candidates are re#ected and fe$er candidates are selected orsometimes not a single candidate is selected. Therefore% it is kno$n as

negati e process or re#ection process.

()FC 2/IMs recruitment policy is $ell structured and pro ides the company$ith a competiti e edge due to the follo$ing reasons7

The recruitment policy focuses on recruiting the best potential people. It ensures that e ery applicant and employee is treated e9ually $ith

dignity and respect.

It is an unbiased policy. It aids and encourages employees in reali!ing their full potential. It allo$s transparent% task oriented and merit based selection. It abides by rele ant public policy and legislation on hiring and

employment relationship.

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It Integrates employee needs $ith the organi!ational needs.

C(APTER .

2500E2TI-,A,)

REC-1E,)ATI-,

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2500E2TI-,

The human resources are the most important assets of an organi!ation. Thesuccess or failure of an organi!ation is largely dependent on the caliber of thepeople $orking therein. T(E RECR5IT1E,T P-/IC of an organi!ationshould be $ell planned and thus should be such so that it7

Reduces administration costs Pro ides employees $ith #ob security

Encourage responsible trade unions

Pro ide suitable employment to handicapped% $omen and minoritygroup

@e fle*ible enough to meet the changing needs of the organi!ation

orks to$ards the gro$th and prosperity of the organi!atsion.

After the study of 4REC5IT1E,T A,) 2E/ECTI-,6 I find that theeffecti e procedure of recruitment is most importance is e ery organi!ational1anagement has to do more effecti e effort for continuous success in thefield of 2er ice and financial sector.

There is need to introduce online recruitment% maintain soft$are for sourcesof candidates to a oid postal and couriers delays through $hich time of processing becomes increase. There is need to increase in our humanresources.

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0enerally e aluation of employees on the #ob and off the #ob is necessary ondaily% $eekly% ' 9uarterly basis but still people are not much a$are aboutsoft$are in ol e in recruitment and selection procedure in our 1anagementin India. 2o there is need to impro e the a$areness and use to sa e the timeand sa e the budget% so that it matches the re9uirement and settlements inthe all types organi!ations.

-ther than futures and options% other instruments like ideo conferencing%

online recruitment% and psychometric test options ha e to be introduced sothat area of human resource is broadened.

There is need to pro ide facility and training to the employee and candidatesin fa ors of technology.

In today&s market% companies no longer compete #ust on price% product and

packaging. The real competition is for talent. And the companies $ith best talent $in. $e $ork to enable our clients to gain a recruiting ad antage in the market through the application of sales and marketing techni9ues% tools and

methodologies.

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C(APTER B.

C-,C/52I-,

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The pro#ect report in ol es the detailed profile of ()FC 2/IC and $hat is theprocess of agency recruitment in ()FC 2/IC. This pro#ect report deals $ithrecruitment and selection process% $hich are basics should be kno$n to e erybodyin the insurance industry best considered approach especially though not ethical butpractical enough is pirating best employees of their competitors. Pro#ect under the()FC 2tandard /ife Insurance deal $ith the recruitment and selection as $ell asfocus on the capacity of the retention of the employee in the organi!ation.

()FC 2tandard /ife Insurance follo$s the proper and appropriate steps and rulesto select e candidates for the post of 2)1. It in ol es more than one departmentduring the procedure of recruitment and selection in sales department. Its anotherfocus on the budget of the procedure $hich should be maintained and under thelimit.

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@I@I/I-0RAP(

RECR5IT1E,T A,) 2E/ECTI-,"

A))ITI-, @ /. 1 PRA2A)

A))ITI-, @ A2 AT(APPA +

E@2ITE HI2ITE)"

$$$.google.com

$$$.hdfc.com

$$$.yahoo.com

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http://www.google.com/http://www.hdfc.com/http://www.yahoo.com/http://www.google.com/http://www.hdfc.com/http://www.yahoo.com/


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APPE,)IG Kuestionnaire

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. -ersonal nter!ie/

e. -syc&ometric test

f. %t&er' pls specify (

. (o$ does your organi!ation track the source of candidateZa. )anual

b. oft/are

c.%nline

.*in o/s. ls

B. Apart from the (R 1anager% $ho all from the other departments are re9uired toget in ol ed in inter ie$ing processZ

a. ales b. A ministration

c. # E ecuti!es

. %t&er' pls specify (

. hat is the a erage time spent by sales dept. during recruitment eachcandidateDZa. 10mins.

b. 10 to 20mins.

c. 20 to 30mins.

. )ore

. hat is the a erage time spent by (R dept. during recruitment each candidateDZa. 10mins.

b. 10 to 20mins.

c. 20 to 30mins.

. )ore

?. hat is the a erage time spent by Admin dept. during recruitment eachcandidateDZa. 10mins.

b. 10 to 20mins.

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c. 20 to 30mins.

. )ore

;. )o your organisation follo$ different recruitment process for different grades ofemployeesZa. o

b. es

8=. hat is the back out percentage of candidates after being offeredZa.1 5

b.5 10c.10 15

. 15 20

88. hat percentage of candidates lea e $ithin the period of less than8" > monthZa.1 5

b.5 10

c.10 15

. 15 20

8" monthZa.1 5

b.5 10

c.10 15

. 15 20

8>. hat percentage of candidates lea e $ithin the period of less than "8< monthZa.1 5

b.5 10

c.10 15

. 15 20

8 . )oes the company reimburse the tra eling cost incurred by the candidate forappearing in the inter ie$Z

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a. es

b. o

c. ,epen s' &o/ (

8B. )o you take any technological support for the process of recruitingZa. elep&one

b. i eo conferencin"

c. %nline support

. %t&er' pls specify (

8 . Are you a$are of the concept of 4Hideo Resume6Za. o

b. es' t&en o you use it ( es o8 . If the recruitment type is 4Employee Referral6 then ho$ much special pri ilegehas to be paid to the one $ho has referred are sufficientZ

a. ma imum

b. minimum

c. mo erate

8?. In ho$ much time does the $hole process generates resultsZa. 1 2 ays

b. 2 4 ays

c. ,epen s on con ition

8;. )o you do the 4Employment Eligibility Herification6Z es oIf yes% then% $hat method you take up to perform itZ a. nternally

b. &rou"& a"encies


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