SUMMER TRAINING AT BAJAJ ALLIANZ LIFE INSURANCE COMPANY Head Office- PUNE

A Report Submitted to Panjab University In partial fulfillment of requirements For the award of the Master degree in commerce Session 2011-2012

Submitted by: - Swati Sood M.com (2nd semester) Roll No. 2314 G.G.D.S.D College sector 32 Chandigarh

ACKNOWLEDGEMENT
Any accomplishment requires the effort of many people and this work is no different. It has been my proud privilege to be attached with BAJAJ ALLIANZ, a highly professional Insurance company with a modern outlook. The experience I gained out of learning new things, the zeal during the project and the satisfaction of making this report is incomplete without mentioning a few names. I take this opportunity to express my deep gratitude to Mrs. Kirti Sehgal, Senior Executive HR; Miss Minal Bonde {HR} at BALIC Head Office, Pune for accommodating me as a project trainee. Her valuable guidance and support in providing information throughout the project work was unforgettable and will help me in my future endeavors as well. I would like to extend my deepest regards to the entire Talent Acquisition Team and all the managers and AVPs of BALIC. I am highly indebted to my project guide Dr.Amit Mohindroo for his guidance, constant supervision and valuable inputs. Finally I thank my family, friends and co-interns at BALIC who have contributed a lot to make this project a success.

Swati Sood

PREFACE
In todays competitive world, people are a companys most important asset and placing the right person in the right position is very critical for the success of the organization. Recruitment represents the first contact that a company makes with the personnel having potential to be employed. Recruitment and selection is a multifaceted concept. Recruitment is the next step in the procurement function, the first being manpower planning. The HR proceeds with the identification of sources of recruitment and finding suitable candidates for employment. Both internal and external sources of manpower are used depending upon the types of personnel needed. In this project I have encapsulated Recruitment and Selection process of BAJAJ ALLIANZ LIFE INSURANCE COMPANY. My involvement in this project has been challenging and has provided me a platform to leverage my potential in the most constructive way. Bajaj Allianz Life Insurance Company is one of Indias leading financial institutions. It has achieved a steady and confident growth to success in a short span of 10 years. This project is an honest effort aimed at understanding the process of Recruitment and Selection at Bajaj Allianz Life Insurance Company.

CONTENTS

Sr. No.
1 2 3 4 5 6 7 8 9 10 11

Description
Introduction to recruitment and selection Organizational Profile Project Profile Weekly Report Human Resource Management Research Methodology Analysis of Data Observations And Findings Conclusion and Recommendation Bibliography Annexure

Page No.
5-15 16-27 28-31 32-36 37-41 42-45 46-69 70-74 75-77 78-79 70-89

1.

INTRODUCTION TO

RECRUITMENT & SELECTION

RECRUITMENT AND SELECTION

Human Resource is a basic need of any work to be done. According to ARTHUR LEWIS: 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 After the identification of need for the number and types of personnel as indicated by human resource planning and the types of jobs that personnel will perform and the qualities that these
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personnel should have as indicated by job analysis, the process of undertaking such personnel should be undertaken by the organization. This acquisition involves: Location of these personnel Attracting them to offer them for selection Making selection of the suitable personnel who may be able to perform the assigned jobs effectively. Thus, there are two distinct activities involved in acquisition process

Recruitment and Selection.

The total process of acquiring and placing human resources in the organization can be shown as follows:

Human resource planning

6

Job analysis

Recruitment

Selection

Placement

Concept of Recruitment
Recruitment is the process concerned with the identification of sources from where the personnel can be employed and motivated to offer themselves for employment. Werther and Davis have defined this as follows Recruitment is the process of finding and attracting capable applicants for employment. The process begins when new recruits are sought and ends when their applications are submitted. The result is a pool of applicants from which new employees are selected.
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Purpose and Importance

Recruitment represents the first contact that the company makes with the personnel having potential to be employed. From the point of view of the potential candidates, recruitment is the process through which they come to know about the company and nature of jobs that are being offered. Therefore, if recruitment process is carried on successfully, it serves the following purposes : It determines the present and future human resource requirements of the organization in conjunction with human resource planning activities and job analysis activities. It helps to increase the pool of potential personnel and the organization has a number of options to choose from. It helps in increasing the success rate of the selection process by filtering the number of under qualified or overqualified job applicants It helps in evaluating the effectiveness of various recruitment techniques and sources of recruitment. It helps to meet the organizations legal and social obligations regarding composition of its workforce.

Recruitment Process
This process includes recruitment planning, identification of recruitment sources, contacting those sources and receiving applications from prospective employees. These applications are then passed on to the selection process.

Recruitment Planning
9

Sources of Recruitment

Contacting Sources

Application Pool

To Selection Process

Sources of Recruitment
An organization can look for filling the vacancies through either Internal or External sources.

INTERNAL SOURCES o Present Personnel (Promotions and Transfers) o Employee Referrals

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EXTERNAL SOURCES o Advertisements o Campus Interview o Management Consultants o Government and Private Employment Exchanges o Labor or Trade Unions o Professional Organizations o Casual Applicants o Job Fairs o Poaching and Raiding o Walk in Interviews o Recruiting on internet (Job Portals)

Concept of Selection
Selection is the most crucial stage in the process of acquiring human resources in an organization. After building the application pool through the process of recruitment, the next step is the

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selection of the personnel who can fit the overall job requirements in the light of job description, role analysis and job specification. It can be conceptualized in terms of either choosing the fit candidates or rejecting the unfit candidates, or a combination of both. A more formal definition of selection is as follows: Selection is the process of differentiating between applicants in order to identify (and hire) those with a greater likelihood of success in the job.

Selection Process
A selection process involves a number of steps screening of application forms, selection tests, selection interviews, checking of references, Physical examination and approval by appropriate authority and handing over the selected candidates to orientation and placement section. However, it is not necessary that all these steps are involved in every selection process.
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The basic idea is to solicit maximum possible information about the candidates to ascertain their suitability for employment.

Application Pool from Recruitment Process

Screening of Application Forms

Selection Tests

Selection Interviews

Checking of References

Physical Examination

Approval by Appropriate Authority

13

Final Selection

Employment Contract

Evaluation

Selection Interview
Selection interview, also known as employment interview, is a formal, in-depth conversation conducted to evaluate the acceptability of candidates for employment. Its aim is to discover those aspects of an applicant which may not be disclosed by other methods. Interview can be used as tool for giving information about the organization , its policies , nature of job to be performed , salary and other benefits to be offered etc.
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TYPES OF INTERVIEW

ON THE BASIS OF CONTACT One-to-One Interview Panel Interview

ON THE BASIS OF INTERACTION PATTERN Structured Interview Unstructured Interview Depth Interview Stress Interview

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2. ORGANIZATIONAL PROFILE

Bajaj Allianz Life Insurance Company Limited

Bajaj Allianz Life Insurance Company Limited is a joint venture between Allianz SE of Germany, one of the worlds largest Life Insurance companies and Bajaj Finserv Limited. BALIC came into being on 12th March 2001.
16

The company received IRDA (Insurance Regulatory & Development Authority) Certificate of Registration on 3rd August 2001 to conduct Life Insurance Business in India.

Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world, managing assets worth over a Trillion Euros (Over R. 55,00,000 crores). Allianz SE has over 115 years of financial experience in over 70 countries. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the offices are interconnected with the head office at pune Bajaj Auto is one of the most trusted name is Indian auto for over 55 years. At Bajaj Allianz customer delight is the guiding principle. Ensuring world-class solutions by offering customized products with transparent benefits, supported by best technology is the business philosophy.

Specialties
One of the market leaders in terms of customer satisfaction and quality processing. Today Bajaj Allianz is one of the Indias Leading and Fastest Growing Insurance Companies. Currently it has presence over 550 locations with over 60,000 Insurance Consultants.

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In June 2008 Bajaj Allianz entered into partnership with Thomas Cook India to provide travel Finance. Bajaj Alliance Life insurance ensures excellent insurance and investment solutions, by providing customized Products, supported by best technology.

NATIONAL NETWORK
BALIC has a Pan India presence with The Corporate Office located at Pune 8 Zonal Offices located at Delhi , Bhilwara , Kolkatta , Indore , Pune , Bangalore and Chennai 700+ branches 6 hubs Pune , Chandigarh , Bhilwara , Kolkata , Salem and Coimbatore Over 10,000 Sales Managers Over 3,00,000 Insurance Consultants More than 10 Banc assurance partners across country Strong Alternate Channel with about 1900+ Franchisees , over 250 corporate agents , more than 35 brokers , and 6 co op banks Over 80 Direct Marketing Branches operating nationwide.

Vision
To be the BEST Life Insurance Company in India To Buy From,
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Work For & Invest In

Mission
As a responsible, customer focused market leader, BALIC will strive to understand the insurance needs of the consumers and translate it into affordable products that deliver value for money.

Culture at Bajaj Allianz

Bajaj Allianz will be:

A winning team Have passion for excellence and hate bureaucracy Be empowered , have the confidence to take decisions quickly and be accountable Be driven to achieve results , to deliver Be professional and socially committed Be open to ideas , sharing , transparent and trusting Make BALIC a great place to work Have a sense of humor

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The Bajaj Allianz Way

Invest in people Pay/develop/career planning Dominate your market Be decisive/communicate clear goals Never sit still change continually/revolutionize Think service ; service ; service continuous improvement Learn and lead be prepared to listen Tell the facts as they are clear communication Kill bureaucracy boundary less/ideas not management layers/informality/speed Manage the business like a corner shop customer satisfaction/employee satisfaction/cash flow.

PRODUCTS OFFERED BY BALIC -

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A comprehensive list of policies and product offered by Bajaj Allianz insurance company is limited is as follows.

Unit Gain Plan

New unit gain super Unit gain plus gold New unit gain plus New unit gain Young care Young care plus New family gain-R

Single premium
Unit gain premium SP New unit gain SP Pension plans Annuity Pension guarantee

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Retirement Future income generator Swarna vishranti New unit gain easy pension plus RP New unit gain easy pension plus SP Future secure Traditional plans Endowment Invest gain Save care economy SP Life time Car Super saver Cash gain

Term plans
Protector Term care
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New risk care

Women insurance plans

House wife Working women

Health plan
Care first Health care Family care first

Children plans
Child gain

Non employer employee

Credit shield Group term life (Non employer employee)
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Group sureksha Swayam Shakti suraksha Group income protection

Employer Employee
Group term life (employer employee) New group gratuity care New group annuation care Group save plus Group term life in lieu of EDLI Group leave encashment scheme Group annuity Group super annuation gold Group gratuity gold

Micro insurance
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Alp Nivesh Yogana Jana Vikas Yojana Saral Sureksha Yogana

Other plans
Family assure Fortune plus Capital shield Century plus II

HIERARCHY OF SALES DEPARTMENT

25

Head of Sales

Zonal Manager

Regional Manager

Divisional Manager

Branch Manager

Sales Manager

Insurance Consultants

STRUCTURE OF TALENT ACQUISITION DEPARTMENT IN BALIC

26

HEAD OF DEPARTMENT

Training & Development

HR Operations

Talent Acquisition

Business HR

Performance & talent Management

(AVP) Asst. Manager Deputy Manager

(AVP) Asst. Manager Deputy Manager

(HEAD) Asst. Manager Deputy Manager Sr. Executive Executive Jr. Executive

(AVP) Asst. Manager Deputy Manager

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3. PROJECT PROFILE

OBJECTIVES

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To study the entire process of recruitment and selection at Bajaj Allianz Life Insurance Company. 1. To understand and analyze the various functions of the Talent Acquisition team at Bajaj Allianz. 2. To study the various sources of recruitment followed in Bajaj Allianz. 3. To headhunt personnel whose skill fits in the companys values. 4. Take an overview of the recruitment challenges faced by the company. 5. To find out the shortcomings in the recruitment process if any.

SCOPE

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The scope of the project covers the Recruitment and Selection process carried out by the Talent Acquisition Team of Bajaj Allianz Life Insurance Company, Head Office; Pune. The project encompasses the working of the Talent Acquisition Team comprising of 13 members including the TA Head. It also considers the responses from the Talent Acquisition Department members who were asked to give their opinions.

LIMITATIONS
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There were some constraints during the project because of which perfection cannot be ensured out of total findings.

Limitations:
1. Time constraint: The time period of 6 weeks was too short to understand the Recruitment and Selection of different levels of employees. 2. Confidential information was not revealed according to the rules and conditions of the organization. 3. The interaction was limited to the Talent Acquisition Team in the Head Office, Pune.

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4. WEEKLY REPORT

WEEK: 1 & 2
I was working as an HR Project Trainee. My job profile was to handle RECRUITMENT in my project. The HR Executive narrated me the whole procedure. My job profile was to generate
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resumes from the various job sites such as Naukri.com, Timesjobs.com & Monster.com etc. according to the requirements of the company. After generating the resumes from the sites the next step was to shortlist the resume which best suite the requirements. Now the short-listed candidates had to be given a phone call in order to find out their interests and schedule them for interview.

Designation of the Required Position Sales Manager/Assistant Sales Manager Job Profile The Sales Manager has to work under an agency channel. He has to recruit around 15-20 Insurance Advisors by himself. He has to give guidance and support to his team. He basically, has to work as a Team Leader, wherein he has to manage a team of agents under him. Qualifications & Requirements The candidate has to be between the age group of 20-30. He must have completed a basic Graduation Degree in any field. He must be ready to work for the salary package we were offering him. Even freshers were applicable for the post. We as PROJECT TRAINEES had to prepare data base for the everyday Conversions we make. Conversions means- The ratio of candidates we call and the number of candidates who are interested in the job profile. At the end of every day, we had to send a list of the copies of the Resumes of the interested candidates to the Zonal Manager, 1 HR executive & 1 Management Trainee.
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WEEK: 3
During the 3rd week I was explained about the various documents that the shortlisted candidates were asked to submit with the Zonal Branch Manager for further verification.

Documents Required
Identity Proof HSC Qualification Certificate. SSC Qualification Certificate. Graduation and Post Graduation Mark Sheet. Residential Proof. Relieving Letter & 3 Months Salary Slip of Previous Organization. 6 Passport Size photos. If the documents were incomplete or unclear the candidates were given a call and asked to submit so with the Zonal Branch Managers. Once the documents were correctly filed, the appointment letters were sent to the Candidates.

WEEK: 4
In the 4th, week of my training I was asked to check the documents of the New Joinees of the company, where I had to call and check whether the Candidates has correctly filled and submitted the JIR (Joinee Information Report).

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Along with handling JIR calls I was also asked to cross check the Reimbursement Claims of various employees of the company. During the month, New Management Trainees Program was being conducted, where I assisted my Senior Executive Ms. Sunaina Checker in the induction. I was asked to prepare the invites for gala dinner, Prepared questions for the MT test and also checked and scored the answer sheets.

WEEK: 5 & 6
In the last 2 weeks of my training I had taken few Interviews of the candidates as Round 1, of the interview procedure. Where walk in interview was being conducted for the Back- Office and Voice Profile.

Interview Process
The company had posted on its website opening for back-office and Voice and walk in interviews were held. I was handling Round 1 of the interview, where I had to collect the CVs of the candidates and process them to ensure that the candidates were eligible for the interview. Now shortlisted candidates were interviewed by me where I checked their communication and overall personality. For Back office position, candidates were supposed to have basic knowledge of MS. Excel and its various tools and for Voice the communication should be excellent. The selected candidates were then sent to different departments and Bajaj Finserv Office for further rounds of interviews.

The above mentioned activities were carried out by me, as a Project Trainee in Bajaj Allianz.
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5. HUMAN RESOURCE MANAGEMENT

37

Functions of HUMAN RESOURCE MANAGEMENT

Administration:
Strategic planning, organizational evaluation, County Board relations, policy recommendations, supervision of department staff

Benefits:
Health insurance, dental insurance, life insurance, disability insurance, retirement benefits, vacation, sick leave, paid holidays, section 125 plan, donor program, educational incentive, uniform allowance, and others.

Compensation:
Salary and benefit surveys, job evaluation, job descriptions evaluation, job descriptions

Employee relations:
Disciplinary processes, incident investigations, complaint/grievance procedures, labormanagement relations.

Employee services:
Enrollment in benefits, employee discounts for recreational spots, resolution of enrollment or claim problems, employee newsletter. Educational assistance, employee service awards

Fiscal:
Staffing budgets, departmental budget, accounts payable, insurance receivables, insurance fund management, total package costing. Insurance receivables, insurance fund management, total package costing.

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Health and safety:

Employee assistance, workers compensation claims, drug testing, safety compliance and training.

Leaves of absence:
State and/or Federal Family and Medical Leave rights, County approved leaves of absence, rights upon return to work, light duty assignments for temporary periods.

Payroll administration:
Computer-based or manual evaluation systems, supervisory training, compliance with timeliness standards

Performance appraisal:
Employee files, litigation files, payroll records, safety records and other administrative files

Record-keeping:
Job posting, advertising, testing administration, employment interviews, background investigations, post-offer employment testing.

Recruitment:
Recruitment is defined as a process to discover the sources of manpower to meet the requirement of the staffing schedule and to employ effective measures fir meet the requirement of the staffing schedule and to employ to employ effective measures for attracting the manpower in adequate numbers to facilitate effective selection of an effective workforce.

Selection:
After identifying the sources of human resources, searching for prospective employees and stimulation helps to apply for jobs in an organization, the management has to perform the function of selecting the right man at right job and at the right time.
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Separations and terminations:

Rights upon termination of employment, severance benefits, unemployment compensation, exit interviews.

Training and development:

County-wide needs assessment, development of supervisory and management skills, employee training and workshops. Benefits orientations for new and transferring employees, Supervisory newsletter.

Salary and benefits:

Salary/wage plans, employee benefits

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Importance of Human Resource Management 1: Attract highly qualified and competent people 2: Ensure that the selected candidate stays longer with the company 3: Make sure that there is match between cost and benefit 4: Helps the organization to create more culturally diverse workforce

Whereas, the poor quality of selection means extra cost on training and supervision. Furthermore, when recruitment fails to meet organizational needs for talent, a typical response is to raise entry level pay scales. This can distort traditional wages and salary relationship in organization, resulting in unavoidable consequences. Thus the effectiveness of the recruitment process can play a major role in determining the resources that must be expended on other HR activates and their ultimate success.

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6. RESEARCH METHODOLOGY

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RESEARCH METHODOLOGY
Research Methodology
Research is a structured enquiry that utilizes acceptable scientific methodology to solve problems and create new knowledge that is generally applicable. Scientific methods consist of systematic observation, classification and interpretation of data. It is the science of dealing with principles of procedure in research and study Research was carried out at Bajaj Allianz Life Insurance Company to find out the process of Recruitment and Selection.

Research Design
Research Designs are concerned with turning the research question into a testing project. The research design can be considered as a blueprint prepared by the researcher before the actual research work. The best design depends on the research questions. It includes: 1. What questions to study? 2. What data are relevant? 3. What data to collect?
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4. How to analyze the results?

Sample Size
The sample size is an important feature of any empirical study in which the goal is to make inferences about a population from a sample. The sample size for this research was 12 employees of the Talent Acquisition Team who are directly involved in the Recruitment process.

Sources of Data Collection

The task of data collection is the actual first step in the process of carrying out the research. In this particular report two types of sources of data have been used :

Primary Data This type of data is collected afresh and for the first time and thus happens to be original in character. In the case of this report, ways of collecting primary data were : Questionnaire to Talent Acquisition Team Formal and Informal Interaction Observation
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 Secondary Data It is the data which has been collected by individual or someone else for the purpose of other than those of a particular research study. Or in other words we can say that secondary data is the data used previously for the analysis and the results are undertaken for the next process. In the case of this report, ways of collecting secondary data were: Books & Journals Magazines Websites Records of the organization

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7. ANALYSIS OF DATA

46

ANALYSIS OF DATA

Questionnaire for Talent Acquisition Team

Q.1. Which recruitment channel does Bajaj Allianz use for recruitment process? a. Employee referral b. Campus recruitment c . Advertising d . Recruitment agencies e. Job portals f. Other, please specify Options Employee referral Campus recruitment Advertising Recruitment agencies Job portals Other Respondents 2 1 1 0 8 0

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Q.2. How do you come to know about vacancy in company? Through the requisitions received by the concerned departments.

Q.3. How many stages are involved in selecting the candidate? a.1 b.2 c. 3 d. 4 e. More

Options 1 2 3 4 More

Respondents 0 0 10 2 0
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Q.4. Potential Candidates in the Organization are generated through which of the following recruitment sources: (Tick and rank them based on the number and quality of candidates generated. Also roughly specify the percentage mix of each of the following sources adopted.)

Sr. No.

Sources

Ranking

Percentages

1 2 3 4 5 6 7

Direct applicants Placement Consultants Job portals Employee referral Through temporary staffing Campus recruitment Advertising

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Options Direct Applicants Placement Consultants Job portals Employee Referral Temporary Staffing Campus Recruitment Advertising

Respondents Ranking 2 7 1 3 6 4 5

Q.5. Are you happy with your current online recruitment channel? a. Yes b. No If No. Why? Options Yes No Respondents 12 0

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Q.6.How is the performance of Online Recruitment over all return on investment?

Cost

Time

Technology

Search

Response

Support

Number of Respondents Very Good Good Ok Bad Very Bad 0 9 3 0 0 2 7 3 0 0 4 8 0 0 0 1 2 9 0 0 1 7 4 0 0 1 8 3 0 0

Performance of online recruitment on overall investment

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10 9 8 7 6 5 4 3 2 1 0 Cost Time Technology Search Response Support very good good ok bad very bad

Q.7.Do you think Bajaj Alliance should outsource the recruitment needs? a.Yes b.No If Yes / No. Why? Options Yes No Respondents 2 10

52

Needfor outsourcingrecruitm ent

17% Yes No

83%

Q.8.Would you like to increase or decrease the use of online recruitment channel? a.Yes b.No If Yes / No Why? Options Increase Decrease Respondents 8 4

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Q.9.Do you use any of the following tests during the process of recruitment? a. Written b. Aptitude c. Group Discussion d. Personal Interview e. Psychometric test f. Other, please specify (Multiple Selection) Options Written Aptitude Group Discussion Personal interview Psychometric test Respondents 7 10 1 12 0
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Other

10. How do you track the source of candidate? a. Manual b. Software c. Online d. Windows. Xls (Multiple Selection) Options Manual Software Online Windows.Xls Respondents 0 10 12 1

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Q.11.What is the average time spent by HR dept. during recruitment (each candidate)?

a. 10 to 20mins. b. 20 to 30mins. c. More than 30 mins.

Options 10 to 20 mins 20 to 30 mins More than 30 mins

Respondents 0 2 10

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A verag tim spent by H dept. for each e e R recruitm ent

10 to 20 mins 0% to 30 mins 20 17%

More than 30 mins 83%

Q.12.Do you follow different recruitment process for different grades of employees? a. No b. Yes

Options Yes No

Respondents 12 0
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D ifferentRecruitm processfor different ent g radesof em ployees 0

0%

Yes No

100%

Q.13.

What

is

the

back

out

percentage

of

candidates

after

being

offered?

a.1%-5% b.5%-10% c.10%-15% d. 15%-20% Options 1%-5% 5%-10% 10%-15% 15%-20% Respondents 1 6 2 3
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1% -5% 5% -10% 10% -15% 15% -10%

Q.14. Out of total recruitment in a year, what is the percentage of internal recruitment? a. 0% - 5% b. 5% - 10% c. 10% - 15% d. 15% - 20% e. 20% - 25% f. More than 25% g. Not at all

Options 0% - 5% 5% - 10% 10% - 15% 15% - 20%

Respondents 1 0 0 0
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20% - 25% More than 25% Not at all

9 2 0

Q.15. Do you take any technological support for the process of recruiting? a. Telephone b. Video conferencing c. Online support d. Other, pls specify (Multiple Selection)

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Options Telephone Video conferencing Online support Other

Respondents 12 12 1 0

Q.16.

In

how

much

time

does

the

whole

process

generate

results?

(Time taken in the whole process i.e. from tests, personal interviews to final list of selected candidates) 5 6 hour

Q.17. Do you do the Employment Eligibility Verification? Yes/No If yes, then, what method you take up to perform it? a. Internally b. Through agencies Options Internally Through agencies Respondents 0 12

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Method used for em ployee verification

0%

Internally Through agencies 100%

Q.18 What kind of verifications you do? a. Educational qualifications b. Legal background check c. Professional background check d. Reference check e. Family background check (Multiple Selection)

Options Educational qualifications Legal background check Professional background check

Respondents 12 12 12
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Reference check Family background check

12 12

V erificationsof candidates

20%

20%

Educational qualifications Legal background check Professional background check Reference check Family background check

20% 20%

20%

19. What source has provided you with highest performers? (Both quantity wise and quality wise) The top sources found are 1. Job Portals 2. Employee Referrals

Options Job Portals Employee Referrals

Respondents 7 5

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20.

Have

you

outsourced

any

of

the

recruitment

activities?

Yes/No

If yes, then pls specify which one? Options Yes No Respondents 0 12

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Outsourcingrecruitm activities ent

0%

Yes No 100%

21. What is the percentage of NO SHOWS? (Scheduled candidates not turning up for joining the job) a. 0% - 5% b. 5% - 10% c. 10% - 15% d. More than 15% e. Not at all Options 0% - 5% 5% - 10% 10% - 15% More than 15% Not at all Respondents 0 8 3 1 0
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Percentag of candidatesnot turningup for e interviews

9 8 7 6 5 4 3 2 1 0 0 3 1 0 8 Sales

5%- 10% 10%- 15% More than 15% at all Not

22. How do you plan and avoid NO SHOWS. (Scheduled candidates not turning up for joining the job) Response 1. Constant communication with the candidate 2. Transparency between the employer and proposed employee 3. Empathetic nature Response Constant communication Transparency Empathetic nature Respondents 10 1 1

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W sto av No S ay oid hows

9% 8% Conatant com unucation m 83% Tranparency Em pathetic nature

23. Which is the biggest challenge that you face in the whole process of recruitment? Response 1. Retaining Candidates 2. Documentation 3. Sourcing Response Retaining Candidates Documentation Sourcing Respondents 4 3 5

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B g challeng facedin recruitm process ig est e ent

42%

33% Retaining candidates Docum entation 25% Sourcing

8. OBSERVATIONS & FINDINGS

68

OBSERVATIONS & FINDINGS

Findings from Questionnaire:
After analyzing the questionnaires filled by the Talent Acquisition Team of Bajaj Allianz Head Office, Pune, it appears that :
1. Bajaj Allianz uses job portals, employee referrals, campus recruitments and Advertising as

channels for the recruitment process. 2. Job portals and Employee referral are the most preferred sources of recruitment.

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3. During the Recruitment and Selection process, generally three rounds of interviews are held

4. The TA team is satisfied with the current online recruitment channel.

5. Performance of online recruitment over return on investment is GOOD with regards to

Cost, Time, Technology, Search, Response and support.

6. Bajaj

Allianz

does

not

outsource

their

recruitment

needs.

The reasons being : Availability of talented and skilled HR recruiters who continuously map the need of all the departments and current market conditions. Reduction of costs.
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7. The use of online recruitment channels is preferred to be increased since it increases the

pool of applicants who can be tapped irrespective of the geographical boundaries, with minimum cost and less time. 8. Source of candidates are tracked through software and online resources. 9. Written and Aptitude tests are conducted during the process of recruitment. 10. Generally, the average time spent by the HR department during Recruitment of each candidate is more than 30 minutes. 11. Different recruitment processes are followed for different grades of employees.
12. The back out percentage of candidates after being offered ranges between 5% to 10%. 13. Out of the total recruitment in a year, the percentage of Internal Recruitment ranges

between 20% to 25%. 14. Telephones and Video conferencing are mainly used for recruitment process.
15. Time taken in the whole process i.e. from tests, personal interviews to final list of selected

candidates is about 5 to 6 hours. 16. Bajaj Allianz conducts Employment Eligibility Verification for all its employees. This verification is done through an external vendor and the report is got in 15 days. 17. Type of verifications done include a. Educational Qualifications b. Legal background check
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c. Professional background check d. Reference check e. Family background check 18. The percentage of scheduled candidates not turning up for the job is in the range from 5% to 10 %. 19. The methods followed to avoid NO SHOWS include : Constant communication with the candidate Empathetic nature more than behaving professionally Transparency between the employer and the proposed employee
20. The challenges faced by the TA team include retaining the candidates and making them

join the organization, sourcing and documentation.

Behavior of candidates:
1. Candidates were reluctant to talk at times 2. Candidates who were contacted were not interested in insurance on many occasions 3. Candidates who were scheduled for interviews would not turn up 4. Mostly freshers were willing to take up the job in this project (recruitment of sales managers) 5. Female candidates were reluctant to attend interview because of sales profile
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6. Experienced candidates refused to attend interview as they did not find the pay package satisfactory.

9. CONCLUSION & RECOMMENDATIONS

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CONCLUSION
Insurance is confronted with high attrition rate. Therefore, it makes recruitment a critical function in the organization. In order to grow and sustain in the competitive environment it is important for an organization to continuously develop and bring out innovations in all its activities. It is only when organization is recognized for its quality that it can build a stability with its customers .An organization must be able to stand out in the crowd. The first step in this direction is to ensure competitive people come in the organization .Therefore, recruitment in this regard becomes an important function. The organization must constantly

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improvise in its recruitment process so that it is able to attract best in the industry in order to serve the best. The search or headhunt of people should be of those whose skill fits into the companys values.

Most of the employees were satisfied but changes are required according to the changing scenario as recruitment process has a great impact on the working of the company and as a fresh blood enters, new ideas enter in the company.

Selection process is good but it should also be modified according to the requirements and the job profile so that the main objective of selecting the candidate can be achieved.

RECOMMENDATIONS

Time management is very essential and it should not be ignored at any level of the process. The delays in the hiring process should be minimized.

Though the Background verification is very essential, it is a cause of delay sometimes and it needs to be modified so that these processes do not increase the cycle time.

Create winning impression even on those who are not selected .A candidate when invited for an interview must be attended as soon as possible and not made to wait for hours
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together .Interviews conducted on a the scheduled time leave a good impression on the candidate. Even if the candidate is not selected, a good impression will make him recommend the name to others. They should carry the impression that they have missed the opportunity to work in a great company.

The candidate pool should be built and managed as a precious resource.

10. BIBLIOGRAPHY
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Books Referred:-

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Websites:

11. ANNEXURE

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ANNEXURE
Questionnaire for Recruitment Team

PLEASE FILL FOLLOWING DETAILS: 1. Organization Name: 2. Strength of the Organization (Less than 50, 50-100, More than 100): 3. Address of the Organization:
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4. Name of the Respondent: 5. Designation of the Respondent: 6. Total number of people in HR department: 7. Total number of people involved in Recruitment and Selection: Note Please tick the appropriate option.

1. Which recruitment channel does Bajaj Allianz use for recruitment process? a. Employee referral b. Campus recruitment c. Advertising d. Recruitment agencies e. Job portals f. Other, pls specify

2. How do you come to know about vacancy in company?

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3. How many stages are involved in selecting the candidate? a. 1 b. 2 c. 3 d. 4 e. More

4. Potential Candidates in the Organization are generated through which of the following recruitment sources: (Tick and rank them based on the number and quality of candidates generated. Also roughly specify the percentage mix of each of the following sources adopted.)

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Sr. No.

Sources

Ranking

Percentages

1 2

Direct applicants Placement Consultants

3 4 5

Job portals Employee referral Through temporary staffing

6 7

Campus recruitment Advertising

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5. Are you happy with your current online recruitment channel? a.Yes b.No If No. Why?

6. How is the performance of Online Recruitment on over all return on investment ? Cost Time Technology Search Response Support

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Very Good Good Ok Bad Very Bad

7. Do you think Bajaj Alliance should outsource the recruitment needs? a. Yes b. No If Yes / No. Why? 8. Would you like to increase or decrease the use of online recruitment channel? a. Yes b. No If Yes / No Why? 9. Do you use any of the following tests during the process of recruitment? a. Written
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b. Aptitude c. Group Discussion d. Personal Interview e. Psychometric test f. Other, please specify

10. How do you track the source of candidate? a. Manual b. Software c. Online d. Windows. Xls

11. What is the average time spent by HR dept. during recruitment (each candidate)? a. 10 to 20mins. b. 20 to 30mins. c. More than 30mins.

12. Do you follow different recruitment process for different grades of employees? a. No b. Yes

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13. What is the back out percentage of candidates after being offered? a. 1%-5% b. 5%-10 % c.10%-15% d. 15%-20 %

14. Out of total recruitment in a year, what is the percentage of internal recruitment? a. 0% - 5% b. 5% - 10% c. 10% - 15% d. 15% - 20% e. 20% - 25% f. More than 25% g. Not at all 15. Do you take any technological support for the process of recruiting? a. Telephone b. Video conferencing c. online support d. Other, please specify

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16.

In

how

much

time

does

the

whole

process

generate

results?

(Time taken in the whole process i.e. from tests, personal interviews to final list of selected candidates)

17. Do you do the Employment Eligibility Verification? Yes/No If yes, then, what method you take up to perform it? a. Internally b. Through agencies

18. What kind of verifications you do? a. Educational qualifications b. Legal background check c. Professional background check d. Reference check e. Family background check

19. What source has provided you with highest performers? (Both quantity wise and quality wise)

20. Have you outsourced any of the recruitment activities?

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Yes/No If yes, then pls specify which one?

21. What is the percentage of NO SHOWS? (Scheduled candidates not turning up for joining the job) a. 0% - 5% b. 5% - 10% c.10% - 15% d. More than 15% e. Not at all

22. How do you plan and avoid NO SHOWS. (Scheduled candidates not turning up for joining the job)

23. Which is the biggest challenge that you face in the whole process of recruitment?

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