Summer Internship Report

A PROJECT REPORT ON PERFORMANCE APPRAISAL OF BAJAJ ALLIANZ LIFE INSURANCE COMPANY

Submitted in partial fulfillment of two years full time course in Masters in Business Administration, 2010-2012, Sukhjinder Singh Engineering and Technology College

SUBMITTED TO: Mrs. Gagandeep kaur

SUBMITTED BY: Amandeep kaur Roll no. 347

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Acknowledgement
Working with Human Resources Department of Bajaj Allianz Life Insurance Company Ltd, for the Summer Project was an invaluable experience in terms of exposure to the various activities in corporate HR. I would like to express my gratitude to Mr. Rajiv Gosain and Mr. Sanjeev Kumar Srivastava for giving me an opportunity to work as a summer trainee in Bajaj Allianz Life Insurance Company. I take this opportunity to thank Mr. Indresh Kumar, who was my project guide, for mentoring me and providing me the guidance for my project work. I express my sincere thanks towards Siddharth Thakur for his constant guidance and support, which enabled me to handle the various projects assigned to me I would also like to thank my parents for their moral support.

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Executive Summary
I did my summer internship at Bajaj Allianz Life Insurance Company Limited, Chandigarh. The company is one of the leading insurance companies of India. I did my summers at the Regional Office located at Chandigarh. The HR department located at this office was looking after the areas of Haryana, Himachal Pradesh and Chandigarh. I was assigned various projects during the course of my 2-month internship with the organisation. The projects given to me were Performance Management System, Recruitment, Talent Mapping and ESIC status.

The report deals with the details of my work in the organisation. These projects required an understanding of the processes established in the organisation, as well as using people skills to get the various tasks done. Persistence and patience were extremely important to ensure completion of the tasks assigned to me.

The report also deals with the organizational processes that I observed during my internship. As I was the part of the Chandigarh branch, my observations about the organization are limited only to that branch. My discussions with the HR executives of the organisation have added to my experience of organization processes.

I, like others, also had my share of learning and problems, which have been mentioned in the report. In short, my learning was the vast addition to my knowledge base and honing of my skills.

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Contents
Serial No.
1.
2. 3. 4. 5. 6. 7. 8. 9.

Particulars
company profile Introduction of topic SWOT analysis Research Methodology Data interpretation and analysis observation and findings Limitation and Recommendation Bibliography Annexure

Page No.
10 19 17 49 50 57 61 63 64

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Objectives of the Report

The objectives of this report are: To narrate my experiences and learning from my summer internship. To elucidate the organization processes and structure that I observed during the two months. To state the constraints that I faced in the organization To gain experience of working in a professional setting, and develop an understanding of the various HR processes in an organisation. To understand the procedure and importance of Performance Management System in the organisation To create a databank of potential employees for the organisation through Recruitment and Talent Mapping

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Insurance
Insurance is not necessarily an investment from which one expects to get one's money back. Nor is it gambling. A gambler takes risks, while insurance offers protection against risks that already exist. Insurance is a way to share risk with others. Since ancient times, communities have pooled some of their resources to help individuals who suffer loss. "Insurance is a contract between two parties whereby one party called insurer undertakes in exchange for a fixed sum called premiums, to pay the other party called insured a fixed amount of money on the happening of a certain event." Insurance is a protection against financial loss arising on the happening of an unexpected event. Insurance companies collect premiums to provide for this protection. A loss is paid out of the premiums collected from the insuring public and the Insurance Companies act as trustees to the amount collected.

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Overview-Insurance Industry in India

The insurance sector was opened up for private participation with the enactment of the Insurance Regulatory and Development Authority Act, 1999 and FICCI has been doing yeoman service to the development of this sector by facilitating exchange of views between the industry, policymakers, and the regulator through the annual conference. The reasons that prompted the government to bring in reform in the insurance sector was that while the Public Sector insurance companies made enormous contribution in the spread of awareness about insurance, and expanded the market, it was recognized that their reach was still limited, the range of products offered restricted and the service to the consumer inadequate. It was also felt that the rapid economic growth witnessed in the 90s couldnt be sustained without a thriving insurance sector. It was also recognized that India has a vast potential that is waiting to be tapped and this could be achieved when sufficient competition is generated and it is exposed to the developments in the rest of the world. The insurance sector was, therefore, opened up for private sector participation with provision for limited foreign equity exposure. We have now more than eight years experience of the public and private sector together operation in the market.

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Life Insurance Statistics

Indian population GDP as on 2000 (Rs bn) Gross domestic savings as a % of GDP NCAER estimate of insurable population Estimated market by 2005 Source: Indiainfoline.com and NCAER India has an enormous middle-class that can afford to buy life, health, and disability and pension plan products. The low level of penetration of life insurance in India compared to other developed nations can be judged by a comparison of per capita life premium. Country Japan UK USA India Source: Various Newspapers Clearly, there is considerable scope to raise per capita life premium if the market is effectively tapped. India has traditionally been a high savings oriented country - often described as being on par with the thrifty Japan. Insurance sector in the US of A is as big in size as the banking industry there. This gives us an idea of how important the sector is. Insurance sector channelises the savings of the people to long-term investments. In India where infrastructure is said to be of critical importance, this sector will bring the nations own money for the nation. Life Premium Per Capita US $ in 1994 3,817 1,280 964 4 1 bn 20000 bn 23% 240 mn 650 mn

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In 3 years time we would expect the 10% of the population to be under some sort of an insurance cover. This assuming a premium of Rs. 5000 on an average, amounts to 100 million x Rs.5000 = Rs. 500 bn. This has made the sector the hottest one in India after IT. With social security and security to the public at large being the agenda for opening the sector, the role of the regulator becomes all the more serious and one that would be carefully watched at every step. In the now open sector on insurance, the following factors will determine the success of the company in particular and the industry in general: A change in the attitude of the population Indians have always been wary of employing their hard-earned money in a venture that will pay them on their death. Insurance has always been used as a Tax saving tool. It is up to the insurers to educate the people to secure/insure their future against any unknown calamity and make a shield around their families and businesses. Insurance should now be looked at as an investment option rather than death benefit.

An open and transparent environment created under the IRDA. Insurance as a sector requires players who are strong financially and are willing to wait for returns. Their confidence can be bolstered only if there is an open and a transparent policy guidelines. This will also help the consumers feel safe that the regulatory is an active one and cares to do everything possible to keep things under control and help the insurance environment grow maturely.

A well-established distribution network. To cater to the largest democracy in the world is by no means a cakewalk. Insurance profits are directly related to number of insured and this is in turn related to the reach. The joint ventures announced have a flavour of network being a critical decider. This is so because as per the guidelines 15% of the policies written by the 5th financial

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year will have to come from the rural area. The banks are the only ones who have that reach.

Trained professionals to build and sell the product. It is said that the insurance agent is the best salesman in the world. Thus the players will require an excellent sales team to sell their products in the now competitive environment. The importance can be seen from the fact that a lot of LIC/GIC personal is being poached by the new players. A more rationale approach to the investment criteria. This is a very critical area as far as the government and the players are concerned. The government has fixed up the investment pattern for the players to meet its social obligations. The players feel that the compulsion is unjust and will affect their return on investments. One may wonder then why it has been listed as a success factor. The reason is that it is in the larger interests of the society. The more the people insured, the better the revenues, followed by better security, followed by better morale and productivity. On a national level the criteria ensure that the money does not go out of the nation. We also need to bear in mind that the insurers are here not for charity but for profits. Encouragement of newer and better products and letting the hackneyed ones die out. This will itself ensure the market grows. And that every class/society gets a product that best suits them.

A level playing field at all stages of development in the sector for all the players. An unbiased environment is where the best comes out of the players. Their real strength shines through. This is the beauty of capitalism that we are trying to achieve in our customized manner. This will only help the industry grow and so will the society.

About Bajaj Alianz Life Insurance Co. Ltd.

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Bajaj Allianz Life Insurance Co. Ltd. is a joint venture between Allianz SE, one of the world's largest insurance companies, and Bajaj Finserv. Allianz SE is a leading insurance corporation globally and one of the largest asset managers in the world, that manage assets worth over a Trillion. With over 115 years of financial experience, Allianz SE is present in over 70 countries around the world. Bajaj Allianz is into both life insurance and general insurance. Today, Bajaj Allianz is one of India's leading and fastest growing insurance companies. Currently, it has presence in more than 550 locations with over 60,000 Insurance Consultants.

Allianz Group Worldwide Allianz is one of the leading global insurance companies Headquartered in Munich, Germany, established in 1890. With over 700 subsidiaries and approximately 181,635 employees worldwide Allianz global network extends to over 70 countries Allianz has the highest commitment & has never exited a market once the company has set up operations there.

Allianz AG- Financial Powerhouse Worldwide Number One by gross Written Premiums. The largest asset manager in the world-Managing assts more than a million US $ [Rs. 50,06,670 Corers (USD 1028 billion] One of Europe's most highly valued stock corporations Net income in excess of Rs 5844 Corers

Indian Operation

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Growing at a breakneck pace with a strong pan Indian presence, Bajaj Allianz has emerged as a strong player in India. Bajaj Allianz Life Insurance Company Limited is a joint venture between two leading conglomerates Allianz AG and Bajaj Auto Limited. Characterized by global presence with a local focus and driven by customer orientation to establish high earnings potential and financial strength, Bajaj Allianz Life Insurance Co. Ltd. was incorporated on 12th March 2001. The company received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration (R3) No 116 on 3rd August 2001 to conduct Life Insurance business in India. Bajaj Allianz- The Present Over 3,00,000 satisfied customers Leading private sector insurance company in India One of the fastest growing private sector life insurer in India Accelerated Growth Fiscal Year 2001-2002 (6 month) 2002-2003 2003-2004 No of policies sold in FY 21,376 1,15,965 1,86,443 GWP in FY Rs. 7 cr. Rs. 69 cr. Rs. 221 cr.

Assets under management Rs 350 cr. Shareholder capital base of Rs. 250 cr. Pan India network Wide range of product to suit your needs. Decentralized organizational structure for increased response and service levels

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Tie Ups with Banks Bajaj Allainz Life Insurance Company was amongst the pioneers of Bancassurance in India. Having pioneered the phenomenon, Bancassurance is one the core business strategies. Two of the strong Bancassurance tie-ups are: Standard Chartered Bank Syndicate Bank They have developed a range of life insurance products exclusively for their Bancassurance partners. Also, the products are customized to suit specific needs of banks.

Bajaj Allianz- A force to reckon with

Bajaj Auto Limited owns 74%, Allianz AG owns 26% Paid up share capital Rs 150 crs Directors- Mr Rahul Bajaj (Chairman); Mr Sanjiv Bajaj; Mr PS Palande, Mr. Ranjit Gupta, Dr. Werner Zedelius; Mr. Heinz Dollberg & Mr. Dietmar Raich The fastest growing Private life insurer in India. 21 Cities and 30 Customer Care Centre (CCC) Target to reach - 34 cities & 61 CCC's by Mar' 03 More than 8000 recruited and trained Insurance Care Consultants. All CCCs networked with state of art IT systems. Highest standard of customer service & simplified claims process in the industry National Network

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BALIC has a Pan India presence with The Head Office located at Pune 1200+ branches 5 Zonal Offices located at Kolkata, Lucknow, New Delhi, Ahmedabad, Bangalore 28 Regional/ state Offices Over 10,000+ Sales Managers 3,00,000+ Insurance Consultants 170+ Bancassurance partners across country Strong alternate channel with 2000+ Franchisees, 200+ corporate agents, 70+ brokers and 100+ Direct Marketing Branches

Vision and Culture

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

Culture @ Bajaj Allianz

Bajaj Allianz will be: Be a winning team. Have a 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 & trusting

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Focus everything we do on our customers. Make BALIC a great place to work. Have a sense of humour.

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

BALIC: Salient Features

Decentralized operations to ensure faster and smoother customer service Customers receive service from any BALIC office, irrespective of their own location Renewal premium possible through: o Online o Any of the BALIC offices o Bill-Junction and Bill Desk o Credit cards or direct debit for Standard Chartered customers Efficient systems, process & speed of response has ensured lowest number of complaints from customers to IRDA

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Industry and Products

Bajaj Allianz Life Insurance Company was the no. 1 private sector life insurance company for the financial year 2005-06. With a pan India presence and over 900 + offices, Bajaj Allianz Life Insurance already has a customer base of close to 2 million customers. Bajaj Allianz Life Insurance has developed insurance solutions that cater to every segment and age-income profiles. For companies it provides comprehensive 'Employee Benefit Solutions' (Group Term Life, EDLI, Gratuity, Super-annotation, Keyman Insurance and more); for the individual Invest Gain (a unique life insurance plan where sustenance of income is combined in the same plan that also pays a lump sum), Cash Gain (Money Back), Child Gain (Children's plan), Risk Care (Pure Term), Lifetime Care (whole life), Term Care (term with return of premium), Saran Visitant (Retirement Plan), Protector (Mortgage term insurance Plan), New Unit Gain Super, New Family Gain, New Unit Gain Plus, New Unit Gain, New Unit Gain Premier, New Unit Gain Easy Pension Plus, New Unit Gain Easy Pension Plus single premium. Currently Bajaj Allianz has a product portfolio of 30 products and more need-based products are in the pipeline. It has followed Bancassurance Model which is the term used to describe the sale of insurance products in a Bank. The word is a combination of "banque or bank" and "assurance" signifying that both banking and insurance are provided by the same corporate entity. The usage of the word picked up as banks and insurance companies merged and banks sought to provide insurance, especially in markets that have been liberalized recently. It is a controversial idea, and many feel it gives banks too great a control over the financial industry.

Bajaj Allianz Distribution Network

Bajaj Allianz has a wide distribution network, and it sells insurance policies through various channels. Each of these channels has independent office locations and staff, and all the HR activities of all these office are looked after by the local HR staff.

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The main distribution channels of the Company are the agency channel and the alternate channel. In the agency channel, the insurance advisors target individuals and they may even be in the rural area. The company has realized that there is a lot of potential in the rural market and is trying to explore that opportunity. The other main distribution channel is alternate channel, which includes bancassurance and corporate channels. Bancassurance is a French term referring to the selling of insurance through a banks established distribution channels. The result is that bank encompasses banking, insurance and investment products for the banks customers. The company has tie up with Standard Chartered for bancassurance. There are people from Standard Chartered who are trained to sell the companys products. The other alternate channel is corporate wherein the company approaches an organization to get the policies for all the employees working in the organization.

BAJAJ ALLIANZ LIFE INSURANCE: Distribution Network

Agency

Bancassurance

Alternate

Corporate Division

Direct Marketing

Area Offices

Standard Chartered Bank

Corporate Agents

Brokers

Branches

Branch Offices

Syndicate Bank

Franchises

Corporate Sales Associates

BDMs

Over 2 lacs + Sales force

GE Money

Brokers

Direct Business

ISOs

Urban Co-Op
Banks Dist. Co-Op Bank Regional Rural Banks catering to mass & rural markets

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SWOT Analysis
Strengths
1. Strong Brand Image 2. Dedicated sales team 3. Value added services 4. The first large private sector life insurance company with a pan India network and strong retail focus to declare substantial profits for the financial year 5. Most profitable private life insurer for 06-07 6. Largest distribution network to reach the customers across the country with 2, 13,000 agents, 900 offices in 840 towns, 200 corporate agents & Bancassurance partners 7. Announced a healthy profit of Rs 45 crore for the financial year 2008-09 as per the audited results. 8. Building on number one position in previous financial year 08-09 in new business the company is now no.1 in the private sector in issuing largest number of policies and becoming a truly mass retail company.

Weaknesses
1. Have to compete with the Government Companies like LIC and UTI who have been very established in this field. So they will have to attain the same trust of the public as it is in the case of LIC and UTI. 2. Weak Customer Relations Management 3. Centralized Structure

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Opportunities
1. Large Untapped Market 2. Distinguishable product (like Parivar Account).

Threats
1. Presence of very strong competitors 2. Aggressive marketing by competitors. 3. Various investment schemes with high returns.

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INTRODUCTION OF TOPIC HR Systems

Bajaj Allianz has: A Management style which is participative and consensus based. A Work culture which is open, informal & collaborative. A Communication style, which is open and not bound by traditional hierarchies. A Compensation & Benefits package which rewards and recognizes the best.

Importance Companies

of

HR

Department

in

Insurance

People are the heart and soul of any business and the insurance industry relies on the dedication, creativity and commitment of its people to enable it to thrive and grow. HR teams provide organizations with the expertise they need to recruit and retain the very best people, dealing with matters such as salaries, pensions and benefits; training and development; industrial and staff relations; counselling and welfare; and health and safety. Increasing emphasis on diversity, performance management, learning and development and organizational change make this a challenging and intellectually stimulating area of work

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The 5 P Model of Strategic Human Resource Management

Philosophy Statements of how organization values and treats employees; essentially culture of the organization

Policies
Expressions of shared values and guidelines for action on employee-related business issues

Programs
Coordinated and strategized approaches to initiate, disseminate, and sustain strategic organizational change efforts necessitated by strategic business needs

Practices
HR practices motivate behaviours that allow individuals to assume roles consistent with organizations strategic objectives

Three Categories of Roles

Leadership Managerial Operational

Processes

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Continuum of participation by all employees in specific activities to facilitate formulation and implementation of other activities

Necessary Conditions
Successful SHRM efforts begin with identification of strategic needs Employee participation is critical to linking strategy and HR practices Strategic HR depends on systematic and analytical mindset Corporate HR departments can have impact on organizations efforts to launch strategic initiatives

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Project Details
I wasnt assigned to a particularly fixed project during the course of my summer training of the organisation. I was introduced to the various projects, according to the need of the organisation. I was treated as a regular employee of the organisation, and thus, got an opportunity to work on various projects, apart from helping out in the regular functioning of the HR department. Thus, I worked on four major projects during the course of my internship in Bajaj Allianz Life Insurance Company. These projects, and the work done by me, will be discussed in detail in this project report. The projects that I worked on can be classified under the following heads: Performance Management System Under this project, I was expected to understand the performance rating system followed by the organisation. After that, I was to ensure the smooth functioning of the system, and remove any bottlenecks. Recruitment

This project required me to make calls to prospective employees, inform them about our requirements, asses their capabilities and schedule their interviews. If the candidate was selected, I was also responsible for the joining formalities of the candidate Talent Mapping

This project required me to find information about the qualification, hierarchical structure, payment structure etc. of the competitor companies, in order for the organisation to have a fair idea of its standing. ESIC Status

This required me to ensure that all employees who fell under this welfare scheme of the government completed all the formalities and availed its benefit.

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All these projects were handled separately i.e. a new project was handed over to me, only when the previous project was finished with.

Performance Management System

I joined the organisation on the 1st of April, 2009. In any organisation, Performance Management is the most critical activity, in the HR front, going on at around that period. Thus, the first project that I was assigned to was Performance Management System.

Introduction
Performance management is the process of assessing progress toward achieving predetermined goals. It involves building on that process, adding the relevant communication and action on the progress achieved against these predetermined goals helping organizations achieve their strategic goals. Rather than discarding the data accessibility previous systems fostered, performance management harnesses it to help ensure that an organizations data works in service to organizational goals to provide information that is actually useful in achieving them and focus on the Operational Networking Processes between that performance levels. The main purpose of performance management is to link individual objectives and organizational objectives and bring about that individuals obey important worth for enterprise. Additionally, performance management tries to develop skills of people to achieve their capability to satisfy their ambitiousness and also increase profit of a firm.

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Benefits

Managing employees performance facilitates the effective delivery of sales incentive plans. There is a clear and immediate correlation between using performance management programs or software and improved sales results.

Direct financial gains

Grow sales Eliminates over-payments Saves time and automates processes Accommodates plan changes

Motivated sales force

Optimizes incentive plans On-time reporting and payments Controlled data distribution data Visible calculations High confidence in payment accuracy Sells program, improves engagement

Improved management control

Flexible, responsive to management needs Displays data relationships Easy to trace data calculations Helps audit / comply with legislative requirements Simple scenario planning Provides process documentation

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In Bajaj Allianz Life Insurance Company, Performance Management System is related to Performance Appraisal i.e. the performance of an individual in achieving his pre-determined goals, also determines his incentive structure.

Performance Appraisal
Performance appraisal, also known as employee appraisal, is a method by which the job performance of an employee is evaluated (generally in terms of quality, quantity, cost and time). Performance appraisal is a part of career development. Performance appraisals are regular reviews of employee performance within organizations. Generally, the aims of a performance appraisal are to:

Give feedback on performance to employees. Identify employee training needs. Document criteria used to allocate organizational rewards. Form a basis for personnel decisions: salary increases, promotions, disciplinary actions, etc. Provide the opportunity for organizational diagnosis and development. Facilitate communication between employee and administration Validate selection techniques and human resource policies to meet federal Equal Employment Opportunity requirements.

The most popular methods that are being used as performance appraisal process are:

Management by objectives 360 degree appraisal Behavioral Observation Scale

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Behaviorally Anchored Rating Scale

360 Degree Appraisal

Bajaj Allianz Life Insurance Company uses the 360 degree appraisal method to measure the performance level of its employees. In human resources or industrial/organizational psychology, 360-degree feedback, also known as "multi-rater feedback," "multisource feedback," or "multisource assessment," is feedback that comes from all around an employee. "360" refers to the 360 degrees in a circle, with an individual figuratively in the center of the circle. Feedback is provided by subordinates, peers, and supervisors. It also includes a self-assessment and, in some cases, feedback from external sources such as customers and suppliers or other interested stakeholders. It may be contrasted with "upward feedback," where managers are given feedback by their direct reports, or a "traditional performance appraisal," where the employees are most often reviewed only by their managers. The results from 360-degree feedback are often used by the person receiving the feedback to plan their training and development. Results are also used by some organizations in making administrative decisions, such as pay or promotion. When this is the case, the 360 assessment is for evaluation purposes, and is sometimes called a "360-degree review."

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Performance Appraisal at BALIC

Performance Appraisal is a process in which employees receive feedback on their performance from their immediate Supervisors / Managers. The process helps them to recognize their strengths and areas of improvement, to utilize their talents and to overcome recognized shortcomings. The intention is to help them improve their performance Regular performance appraisal and development interviews are conducted twice a year. The appraisal periods are April September October--March. In order to be appraised, a Team Member needs to have completed a minimum of 3 months service with the Company. However, even if a Team Member misses an appraisal period due to shortage of service period, the eligible performance pay out will be carried forward to the next appraisal period on a pro rata basis. 1. Appraisals may also be conducted on the following occasions: o

Significant change of assignment, area of activity and / or transfer to Another business unit Change of supervisor, or - Upon conclusion of the probation period.

2. Their performance culture involves

o

Setting of targets or Key Results Areas (KRA's) at the beginning of the Appraisal period Monitoring performance Providing feedback and redirecting action plan if required and at the end of the appraisal period appraising individual contributions against the predetermined objectives or KRA's.

o o

Results are then communicated and rewarded in relation to objectives achieved.

The Process at BALIC

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Performance Appraisal at Bajaj Allianz Life Insurance Company was an online process. BALIC employees have an online HR portal, called HR4u. This portal is a very useful platform for communication as well for various HR related transactions. Each employee has a unique username and password to access their HR4u portal. Employees are required to mark their daily attendance by logging on to this online portal. All communication from the top management and other important information like salary slips, forms for provident fund etc were also uploaded in the various sections of this portal. Performance Appraisal process was preceded by a target-setting exercise within the organization. This exercise was carried out six months before the process of performance appraisal was initiated. The employees were required to log-in to the web portal and set up their targets that they planned to work on and achieve in the following six months. These targets were decided upon by the employee himself, in consultation with his peers and his superiors. The online portal had a comprehensive detail list, which required the employee to break down his targets into small, achievable parts and mention them in the required format. During the month of April (six months after the target-setting activity), the target sheets were uploaded on the HR4u account of each employee under the Performance Management head. These uploaded forms consisted of the targets set by the employee for himself/herself. The employees were required to rate themselves on a scale of 0115, on the basis of how much, and how efficiently had the target been achieved by them. Any rating of above 100 given by the employee was followed by a compulsory question asking what made the employee believe that he had exceeded his expectations from himself. Performance appraisal is a layered process at this organization. The appraisal of an employee depends on the ratings given by himself, his superior and his superiors superior (reviewer) to the employee. Once the employee was satisfied with the ratings he had given himself, he was required to forward the form to his superior. Once the employee clicked on the option of forwarding his completed ratings to his superior, he could not make any changes in the ratings or explanations that he had furnished. The superior was then required to judge the employee on the basis of the targets set by him and the level to which those targets were achieved. The superior could also see the ratings given by the employee to himself. After having assessed the employee to his

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satisfaction, the superior was required to forward the performance management form of the employee to the reviewer of the employee i.e. superiors superior. The reviewer was also required to give his ratings to the employee on the basis of the level of targets achieved. After the reviewer filled and submitted the form, the performance appraisal of the employee was considered complete. The employee could, at any time, log on to his HR4u account and look at the ratings given to him by his superior and his reviewer.

Advantages
Transparent system Multi-layered rating Increased reliability Employee participation encouraged

Disadvantages
No consideration to the opinion of the peers of the employee Role of the HR department was highly operational

My Contribution
The work done under this project can be classified into the following major heads: Building a database The first step towards starting this project required me to build a comprehensive database about the employees who were scheduled to undergo performance assessment and appraisal. The database consisted information about the name of the employee, his department, his designation, the name of his superior and his reviewer and their designations, the job location of the employee, his contact number and his e-mail address. 30

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Explaining the importance of the process The employees of BALIC needed to be informed about the importance of the entire process. There was a wide-spread ignorance within the organization about the importance of the performance assessment of the employee. Most of the employees looked at it as an unnecessary activity, and hence, were unwilling to initiate the process. The employees also had to be informed about the entire process. They needed to be informed about what exactly were they supposed to do, and how. Sending reminders Another important task was to send reminders to the employees, regarding the process. This activity highly complimented the process of explaining them the process of performance appraisal and its importance. The reminders were aimed at encouraging the employees to start rating themselves, so that the process could be smoothly carried out. Handling queries A very important part of the process, and one that required a lot of effort was the part of handling queries of the employees. Once the employee sat down to start giving ratings to himself, he had queries about how much rating he could give himself, what effect would giving a low rating have, how did he calculate what rating to give himself etc. All these queries were to be handled by me. I was responsible to respond to the employee with reasonable and acceptable answers to their queries. Resolving error complaints Occasionally, there arose complaints of technical errors in the HR4u portal. The errors were as serious as wrong target sheet had been uploaded or the employee was unable to save the ratings he gave himself, to as trifle as the employee was unable to log-on to his HR4u account as his password was not being accepted. My role was to get all these errors resolved. The performance appraisal process was highly centralized and most of these errors could only be resolved by people sitting in the head office, Pune. I was required to inform the concerned person

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about the error details, and act as a communication bridge between the employee and the concerned person. Constant follow-ups I was required to have constant follow-ups on the status of performance assessment. This required me to know how many employees had completed their ratings and forwarded it to their superiors, and how many employees were still pending. The employees, who were still pending, required to be reminded, requested and at times, reprimanded by their superiors, in order to get them to rate themselves. Data maintenance The most time-consuming activity was maintaining a database of the entire process. I was required to maintain a database of the calls I made to the employees to remind them to rate themselves, the number and nature of queries handled by me, the number and status of errors reported, and was required to furnish the expected number of employees to complete the first level of the process.

Preparing status reports Twice in a day, then head office would send status update on how many employees were still pending to complete their ratings. I was also expected to maintain a record of all these status update reports in a single excel worksheet in order to be sure of how many employees were still pending to their ratings, or how many employees were pending because of their superiors and/or their reviewers.

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Recruitment
Recruitment refers to the process of screening, and selecting qualified people for a job at an organization or firm, or for a vacancy in a volunteer-based organization or community group. Recruitment is the process through which new employees are inducted into any organization. It is one of the most important activities of the Human Resource department of any organization, as the recruitment process of an organization determines the quality of personnel who will work for the organization. Thus, it is very essential that the recruitment process of any organization is very comprehensive.

Recruitment and Selection Process

An Overview
The recruitment and selection decision is of prime importance as it is the vehicle for obtaining the best possible person-to-job fit, which will, contribute significantly towards the organizations effectiveness. It is also becoming increasingly important that as the organization evolves and changes, new recruits show a willingness to learn, adaptability and ability to work as part of a team. The Recruitment & Selection procedure ensures that these criteria are addressed. An ideal recruitment and selection policy should be:

Fair and consistent Non-discriminatory on the grounds of age, race, gender, religion or disability Confirm to statutory regulations and agreed best practice.

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The ultimate aim of any recruitment process is to bring in good-quality new employees by the most objective, cost-effective and swift means possible. The appropriate use of IT along with the traditional recruitment methods can help a company to achieve this goal giving due importance to the human role in selection decisions. When choosing which selection methods to use, it is important for a company to strike a balance between gaining a rounded view of the candidate and not using any more procedures than are strictly necessary. The organizations these days adopt a variety of selection tools, with many placing an increasing emphasis on the initial screening of applicants to filter out unsuitable candidates as early as possible. Thereafter, the face-to-face interview - now increasingly structured and competencybased - remains at the heart of most employers' recruitment processes, supplemented where necessary by psychometric tests and a full assessment centre approach. Job Analysis The first necessary step to an effective recruitment process is to have an in-depth understanding of the requirements of the job. The main purpose of conducting job analysis is to prepare job description and job specification which in turn helps to hire the right quality of workforce into the organization. The general purpose of job analysis is to document the requirements of a job and the work performed. Job and task analysis is performed as a basis for later improvements, including: definition of a job domain; describing a job; developing performance appraisals, selection systems, promotion criteria, training needs assessment, and compensation plans. In the fields of Human Resources (HR) and Industrial Psychology, job analysis is often used to gather information for use in personnel selection, training, classification, and/or compensation. There are several ways to conduct a job analysis, including: interviews with incumbents and supervisors, questionnaires (structured, open-ended, or both), observation, critical incident investigations, and gathering background information such as duty statements or classification specifications. In job analysis conducted by HR professionals, it is common to use more than one of these methods.

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For example, the job analysts may tour the job site and observe workers performing their jobs. During the tour, the analyst may collect materials that directly or indirectly indicate required skills (duty statements, instructions, safety manuals, quality charts, etc). The analyst may then meet with a group of workers or incumbents. And finally, a survey may be administered. In these cases, job analysts typically are industrial/organizational psychologists or Human Resource Officers who have been trained by, and are acting under the supervision of an industrial psychologist. In the context of vocational rehabilitation, the primary method is direct observation and may even include video recordings of incumbents involved in the work. Questionnaires are the most common methodology employed by certification test developers, although the content of the questionnaires (often lists of tasks that might be performed) are gathered through interviews or focus groups. Job analysts can at times operate under the supervision of a psychometrician.

Screening Applications Once completed applications have been received, the next step in the process is to screen them in order to identify those most suitable for interview for the post. This process is usually conducted by the hiring manager in conjunction with HR. The screening involves crosschecking the applications against the job description and choosing the most suitable candidates for interview. Another intervention, which HR may take in order to ensure equity, would be to reformat CVs, in order that they remove information, which could result in discriminatory selection by those screening them. Some organizations have a practice of removing surnames, addresses, marital status, date of birth, and any other details, which may lead to discriminatory selection prior to passing them on to the managers selecting interviewees. When it comes to the actual screening, the Job and Person specifications are, once again, an invaluable tool in ensuring that this process is run in an equitable fashion. It

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is imperative that applications are screened, and scored, against the criteria that were initially decided upon. The reasoning behind the use of scoring sheets is threefold. 1. 2. 3. It ensures that applicants actually are screened against the correct requirements It provides a written record of this step of the recruitment process, making those screening more accountable It provides a shortlist from which interviewees can be selected

The Interview The interview should always be viewed as a two way process. Not only is it an opportunity for the candidate to present themselves in pursuit of the position, but it is also an opportunity to ensure that the candidate has a positive experience of the organization. Part of this experience should be that the organization presents itself as an equal opportunities employer. Studies have shown that an unsuccessful applicant, who feels that they were treated fairly by a company, is more likely to reapply should another position arise in the future. The first step in ensuring that interviews are conducted within the law is in the selection of the interviewer, or interview panel. Where an interview panel is used it is worth trying to form the panel in order that it reflects the diverse make up of the applicant pool, i.e. there should be gender balance. As a minimum, organizations should attempt to have one woman and one man on a panel to ensure that gender discrimination is avoided. The next step is to ensure that the interviewers are trained in interview techniques. This helps avoid them asking questions that could be deemed unnecessary, and potentially discriminatory. A member of HR should always attend interviews, and where an interviewer has not been trained in interviewing techniques, this becomes even more important. Agreeing questions in advance of the meeting avoids any

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discriminatory questions being asked out of the blue. The whole interview process should be transparent and interview notes should reflect this. As mentioned above, it is also worthwhile ensuring that those involved in the interview process have attended an equality training session. This helps ensure that they are aware of their responsibilities under the legislation, and also that they are aware of clauses in the act promoting positive action, as will be discussed below. Other points to note are that question areas should only relate to the job requirements, and that the same question areas should be asked of all applicants. If it is necessary to assess whether personal circumstances will affect performance of the job or not, (e.g. where the job involves unsociable hours, extensive travel), relevant questions should be asked, equally of all applicants, and the answers should be evaluated on the same basis for each. Again, just as with the screening process, interviewers should be required to score candidates on a points basis, which is based on the job requirements. Legal stipulations are that all documentation relating to scoring and interview notes are to be held for one year.

Recruitment Process at BALIC

The recruitment process at Bajaj Allianz Life Insurance Company, according to me, left a lot to be desired. Most of the recruitment was carried on for the sales and marketing team. This was mainly because the attrition rate in this department was extremely high. And very less importance was laid on the kind of employees being hired by the organisation. The project offered to me required me to recruit employees for three posts: Sales Manager (SM)/Assistant Sales Manager (ASM) These posts were a part of the Sales and Marketing team of the region, and were forever empty. The basic qualification required for both the posts was the same, and the salary difference was 40,000 annually. The eligibility of the candidate for the post was decided on the basis of his experience. 37

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Rural Sales Officer (RSO) These posts were a part of the strategic initiatives of the organisation. These employees were based in the rural areas and were required to sell insurance policies directly. Cluster Head - Renewals This was a post for the regional head of the renewals vertical in the region.

My Contribution
The work done under this project can be classified into the following major heads: Short listing resumes The first step to starting this project was to find out the resumes of prospective clients. Bajaj Allianz was highly dependent on online portals to find suitable resumes. The resumes were obtained by surfing through Naukri.com. The search criterion was filled up and the top 500 resumes were saved in order to be contacted. Calling prospective employees The resumes available at Naukri.com consisted of information about the name, educational qualifications, work-experience, present salary and their contact number. I was required to call up the candidate, inform him or her about the requirement of the organization and verify if he or she was interested in appearing for the interview. Judging initial capabilities While talking to the prospective employees over the phone, I was also required to judge their initial capabilities. For e.g.:- I was required to judge the communication skills of the candidate, his relevant past work experience etc. Only if a candidate was fund suitable, would he be called for the interview. Scheduling interviews The candidates who were found suitable were invited to appear for the interview at the Bajaj Allianz Life Insurance Company offices located nearest to their

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present location. For this purpose, I was required to schedule interviews with the Branch Managers and/or Divisional Managers, depending on their availability. The candidate was to be informed about the address of the BALIC office, the time and the documents to be brought by him.

Conducting interviews Each candidate was required to go through three rounds of interviews before his selection. The first round of interview was conducted by the Branch Manager and/or the Divisional Manager, on clearing which, the candidate was sent to the Regional Office at Chandigarh. The remaining two rounds- the HR interview and the interview by the regional head were carried out at Chandigarh. My task was to inquire about the status of the interviewees sent to the various divisional offices by me, and schedule and conduct the interviews of those candidates at the Regional Office. I was also allowed to sit and observe the candidate while his HR interview was conducted. Generating Appointment Letters If a candidate managed to clear all the three rounds of interview and was selected as an employee of the organization, I was required to generate the appointment letter of the candidate. The appointment letter was generated by the Head Office, located at Pune. For this purpose, they were e-mailed a scanned copy of the Interview Assessment Sheet (IAS) of the candidate, along with his Resume. The IAS consisted information about the designation and job location of the candidate, along with the ratings given to him during the three rounds of interview. The IAS had to be signed and stamped by the interviewers of all the three rounds of the interviews. Joining Formalities The HO would mail a soft copy of the appointment letters of the selected candidates. On receiving that mail, the hard copies of the IAS and Resume of those candidates was mailed to the Head Office. On receiving these documents, the Head Office mailed the hard copies of the appointment letters to the regional 39

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office. Only on the receipt of these hard copies could the candidate be called for his joining formalities. The joining procedure was a major bottleneck. The Head Office demanded a host of documents to be furnished by the candidate in order for his employee code to be generated.

Maintaining Database I was also required to maintain a database of the number of candidates I called, the candidates who were called for the interview round, the status of the candidates (whether cleared the interview or not). Apart from this, I was also expected to maintain a record of all the people who did not appear for the interview and people who denied being interested in working with BALIC.

Talent Mapping
Most organizations spend considerable amounts of time reviewing monthly and quarterly financial performance, new product plans, inventory levels and other dashboard-driven business data. What is unusual about many of these same organizations is the conspicuous absence of a similarly focused, formal and periodic review of organizational talent. Regularly setting aside time to map the strengths, needs and improvement opportunities for an organization's human assets can help ensure that the organization's top talent is getting the attention, rotational assignments and other developmental opportunities necessary to keep them engaged and committed. Mapping talent within an organization also keeps the succession slate current and ensures that the organization is prepared when promotional opportunities arise. In addition, talent mapping programs provide organizations with the opportunity to identify those employees that are not performing up to expectation, and create the accountability for developing performance improvement plans that either coach these 40

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employees to improved performance or help them to exit the organization. The expectation that action plans committed to in previous sessions will be reviewed at the next talent review session often compels senior managers to follow through promptly on their to dos. The most common talent mapping programs define comparison metrics that differentiate employees by assigning them to different categories. One approach may be to distinguish between high-potential, high-performing, solid-performing, and lowperforming employees. By requiring operating executives to make and then discuss these distinctions with the CEO and senior human resources executive, we create a shared understanding of that division's potential, and create accountability around following through on commitments made at these periodic reviews that in turn strengthen the organization's talent pool. Talent mapping programs provide individuals in an organization with the benefit of a regular review of their contributions, developmental needs and succession potential. They are viewed as a sign of the organization's investment in and commitment to ensuring the highest levels of professional growth for all members of the organization.

Talent Mapping at BALIC

Having gone through the definitions of talent mapping, I dont think the project I was handed over at Bajaj Allianz Life Insurance Company by the Head Office was not really talent mapping, as they called it. But since I couldnt find any other name for that project, I will continue with that name. Under this project, I was required to find information about the qualification, hierarchical structure, payment structure etc. of the competitor companies. The organization identified its major competitor companies, who were working in the same field, and targeting the same customer base. The interns were required to contact the employees of the competitor companies and gather information about them and their organization.

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This information was then to be used to make a database of the potential resource pool for the organization. The employees of the competitor organization could be lured into joining BALIC by providing them a better pay package, or a better incentive structure. We, the interns, were required to create a database consisting o the list of employees of the competitor organizations, along with any information that they might be willing to share, with our project guides at the end of the internship to aid them in the future. The major competitor companies recognised were: Birla Sun Life Insurance ICICI Prudential Life Insurance Tata AIG Life Insurance Aviva Life Insurance Kotak Life Insurance Max New York Life Insurance Bharti AXA Life Insurance ING Vysya Life Insurance HDFC Standard Life Insurance Met Life India Insurance Company Ltd. SBI Life Insurance Co. Ltd

My Contribution
The work done under this project can be classified into the following major heads: Acquiring contact numbers of the employees The foremost requirement of this project was to have contact details of the people working with the competitor companies. This was done by surfing at Naukri.com and finding contact details of people presently working in those organizations. Contacting the employees

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These people were then contacted and a rapport was established. This was mostly done by initially talking about having a job opening in the organization. Scanty details about the job profile and salary were revealed to maintain the interest of the candidate. He was asked about his educational qualifications, work experience, present job etc. Gathering information Once the employee got talking, details about the salary structure, incentive structure, amount of business drawn by the employee for the organization, the hierarchical structure of the organization etc. were extracted from him. Asking for references Before disconnecting the call, the candidate was asked if he had any references, names and contact numbers of people who might be interested in working with BALIC. He was encouraged to give names of his colleagues, or his friends working with some other life insurance company. The references were also called for similar information. Asking about their future plans Interest was also shown in knowing about the future plans of these people. Their interested field and area of work, willingness to work with Bajaj Allianz Life Insurance Company, or any other company under the Bajaj Group was inquired about. Any such preference mentioned was noted down. Maintaining a database The most essential part of this project was maintaining a detailed database about the calls made and information gathered. Another database was maintained consisting of information about the name of the employee, his contact number, his educational qualification, work-experience and details about the present employment. His salary and incentive structure, standing in the hierarchical structure of the organization, the difference in the salary of his superiors and his

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subordinates with respect to his salary etc. were listed down. Details about his future plans, interested areas of work, willingness to work with Bajaj Allianz Life Insurance Company were also recorded.

ESIC Status
The promulgation of Employees State Insurance Act, 1948 envisaged an integrated need based social insurance scheme that would protect the interest of workers in contingencies such as sickness, maternity, temporary or permanent physical disablement, and death due to employment injury resulting in loss of wages or earning capacity. The Act also guarantees reasonably good medical care to workers and their immediate dependants. Following the promulgation of the ESI Act the Central Govt. set up the ESI Corporation to administer the Scheme E.S.I. Scheme being contributory in nature, all the employees in the factories or establishments to which the Act applies shall be insured in a manner provided by the Act. The contribution payable to the Corporation in respect of an employee shall comprise of employers contribution and employees contribution at a specified rate.

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The rates are revised from time to time. Currently, the employees contribution rate (w.e.f. 1.1.97) is 1.75% of the wages and that of employers is 4.75% of the wages paid/payable in respect of the employees in every wage period. Employees in receipt of a daily average wage up to Rs.50/- are exempted from payment of contribution. Employers will however contribute their own share in respect of these employees. Coverage under the ESI Act, 1948 The Act was originally applicable to non-seasonal factories using power and employing 20 or more persons; but it is now applicable to non-seasonal power using factories employing 10 or more persons and non-power using factories employing 20 or more persons. Under Section 1(5) of the Act, the Scheme has been extended to shops, hotels, restaurants, cinemas including preview theatre, road motor transport undertakings and newspaper establishment employing 20 or more persons. The existing wage-limit for coverage under the Act, is Rs.10, 000/- per month (with effect from 1.10.2006). Benefits The section 46 of the Act envisages following six social security benefits :(a) Medical Benefit (b) Sickness Benefit (SB) 1. Extended sickness Benefit(ESB) 2. Enhanced Sickness Benefit (c) Maternity Benefit (MB) (d) Disablement Benefit 1. Temporary disablement benefit(TDB) 2. Permanent disablement benefit(PDB)

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(e) Dependants Benefit (DB) (f) Funeral Expenses An interesting feature of the ESI Scheme is that the contributions are related to the paying capacity as a fixed percentage of the workers wages, whereas, they are provided social security benefits according to individual needs without distinction. Cash Benefits are disbursed by the Corporation through its Local Offices (LOs)/ Mini Local Offices (MLOs)/Sub Local Offices (SLOs)/pay offices, subject to certain contributory conditions. In addition, the scheme also provides some other need based benefits to insured workers. These include: i. ii. iii. Rehabilitation allowance Vocational Rehabilitation Unemployment Allowance (Under Rajiv Gandhi Shramik Kalyan Yojana)

ESIC in BALIC
This project was handed over to me in last 1-2 weeks of my internship period with the organization. The Employee State Insurance Company enforces the act which states that the employed organisation should provide an insurance cover to his employees, and their dependent family members. The employees whose monthly salaries were less than ten thousand were covered under this insurance scheme. To avail the benefit of this scheme, the employees were required to submit a form along with their full length photograph, and a full length photograph of the dependent family members with them.

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My Contribution
The work done under this project can be classified into the following major heads: Building a database The first task was to build a database consisting of information about the name of the employees who were to be covered under this scheme. The database also consisted of information about their present job location, their designation and department and their contact number. Providing the forms and the instructions

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The employees had to be provided to the employees. This was done by e-mailing a soft copy of the form to the employees. The instructions were mailed to the employees, along with the soft copy of the form. The instructions were also narrated to each employee, over the phone. Checking the forms The completed forms that were sent to the regional office were checked. Any forms not filled according to the instructions, or otherwise incomplete in any way, were sent back. The remaining forms were dispatched to the Head Office so that they could be processed. Follow ups The forms that were found incomplete were sent back to the respective employees. And then again began the cycle of explaining them every minute detail in order to ensure that the form was filled properly and could be sent for further processing.

Research Methodology
The study was conducted in Chandigarh. The methodology adopted was the use of questionnaires. HR persons in within organizations present in the above mentioned cities were personally visited by me and questionnaires were administered to them. All the questions contained in the questionnaire were structured questions. The purpose of the study was descriptive and attempt was made to find out the existing systems for Recruitment and Selection process in the organizations. The data thus collected was analyzed and concluded.

Research Design
The survey research method was the basic research design.. The main motive behind visiting the HR people was that they are the one who are dealing directly with the recruitments and can best tell us the details of the system. Questionnaires were given to them and I requested them to fill in the questionnaires. It took them 10 to 15 minutes to fill in the questionnaire. Questionnaire and the daily activity report with response are attached at the end in Annexure.

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Questionnaire Preparation/Design
The survey research method was the basic research design. Each respondent was asked if he/she was willing to participate in filling the questionnaire. The questionnaire was personally administered to the respondents. Questionnaire was prepared according to predefined objective of the study by me with consultation of my guide. The questionnaire was designed to obtain the detailed information regarding the existing appraisal systems in the organizations. It contained multi choice as well as open ended questions. A sample copy of the final questionnaire has been enclosed in the appendix.

Ethical issues involved:

Informed consent of the subjects was obtained. I ensured maximum possible accuracy by maintaining objectivity. Under no conditions the findings of the research were misrepresented or manipulated.

Data Gathering
Primary data has been gathered using the personal interview technique. Questions contained in the questionnaire were put forth in the interview and their answers were recorded. Secondary data has been collected from the text books as well as the Internet.

Data Processing Procedures:

After the primary data was collected, it was observed and analyzed manually to obtain the results.

Analysis and Interpretation

Q1:- Do your company using appraisal system to appraise your performance?

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Interpretation:- Out of the 100 respondent the 60 % said that the company in which they are working right now, they got appraised by the human resource department and the 40% said that the are not appraised by the company because there were no human resource department in their companies. This thing make it clear that the people got appraised by the companies they have the human resource department. Q2:- Is the company properly and timely communicating with you about the parameter on the basis of which performance is evaluated?

Interpretation:- 28% respondent said that they were not usually told about the parameters the departments using to appraise their performance of the employees. 30% respondent tell that they were always got informed about the various parameters on which they got appraised and 42% means the majority said that they told about the various parameters taken to appraise their performance. Q3:- Are you satisfied with the parameter on the basis of which you are evaluated?

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Interpretation:- It is clear from the above pia chart that the 37% respondents are extremely satisfied with the type of the parameters they get for their appraisal, and 27 % respondents said that they are satisfied with the parameters and 20% respondents said that they are dissatisfied with the type of the parameters they have for the performance appraisal and 60% are extremely dissatisfied with the parameters through with they usually got appraised. It is clear that the parameters used for the performance appraisal can make the employee dissatisfied and can result to minimize the productivity of the employees.

Q4:- How many times the performance appraisal should be conducted in an year?

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Interpretation:- Out of the 60 respondent 22% said that they are appraised by the management in once in the year and 36% the majority of the respondents said that they are appraised by the management in the 2 times in the year. And 24 % said that they appraised in the 3 times in the year and 18 % said that the four times they got appraised by the management. Q5:- Do you find any biasness from evaluation side may be due to region in your performance appraisal?

Interpretation:- 20% respondent said that they feel biased while they are appraised by their superior and or by the management sometimes and 80% said that they are not appraised by the management, they feel sense of secure and fair while they are appraised by the management.

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Q6:- Are you satisfied with the evaluation, judgement about your performance and their way of ratting your performance?

Interpretation:- 33% respondent are satisfied with the evaluation, judgement about your performance and their way of ratting them and 30 % said they are extremely satisfied with the management and 12 % said they are extremely dissatisfied with the performance evaluation and judgement and their ratting criteria and system and 25 are just dissatisfied with their criteria for judgment ratting and evaluation of the employees in the organisation.

Q7:- Are you satisfied with the training program provided by the company for improvement/development of your skill?

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Interpretation:- When we asked about the training program of the employees, provided by the management than the 40 % respondents said that they were fully satisfied with the training program given by the management for the improvement and development given by the management. 30 % respondents said that they are just satisfied and 20 % said that they are dissatisfied and 10 % send that they are Extremely dissatisfied by the training and development program run by the management to develop their skills.

Q8:- Do you get the counselling intension (Post appraisal interview) from your boss/senior to solve your problem?

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Interpretation:- 47% respondent get the sometimes counselling intension from there boss or senior related to there problems and 47% said that they got it sometimes when they the senior find it suitable. And 20% said that they never get any intension for the counselling of their problems.

Q9:- Are you get satisfaction/promotion growth according to your performance?

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Interpretation:- 14% said that they are extremely satisfied with the growth according to the performance appraisal. And 19% said that they are also satisfied growth criteria by the performance appraisal system. 43% said they are dissatisfied and 24% said that they were extremely dissatisfied with the growth criteria for the purpose of promotion and satisfaction. Q10:- What you think the objective of performance appraisal system of the company?

Interpretation:-The 27% respondent said that purpose of performance appraisal is achieved with it by evaluation and 23% said its development and 50% said that the both are achieved with the performance appraisal system.

My Observations

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Having spent 8-9 hours on an average in the office, 6 days a week, I observed quiet a few subtleties. The following few pages contain some such observations: Highly centralised HR department structure The structure of the HR department of Bajaj Allianz Life Insurance Company is highly centralized. The regional HR departments merely function as data maintenance departments. An issue as trivial as resetting the password of the mail of an employee requires a notification to be sent to the head office. The HR department seems to be lacking in the ability to solve minor grievances due to lack of power. This could be due to the fact that HR department has been recently established in this organization, and they seem to be trying to put their processes in place and streamline the system. Need for gender sensitization One of the biggest shocks that I got while working in the organization was the lack of gender sensitization among the employees. Female candidates interested in working in the sales and marketing department were rarely selected, stating that they were females and hence, incapable of doing the task assigned. If selected, their selection was required to be approved by the zonal manager, when there was no such rule for the male candidates. Absence of anti-sexual harassment initiative This observation was the result of a personal experience I had during the course of the internship. This is a sales-driven organization, with a high amount of pressure on the employees, especially the Sales and marketing team. Most of the employees at higher posts are males. Absence of anti-sexual harassment initiative hampers the functioning of the female staff as they have no rule or law to support them. Complacent attitude of the employees

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The employees of the organization have a much laid back approach. They have to be pushed into doing anything, even if the work is for their own benefit. Processes like performance appraisal and/or filling up of ESIC forms took up a long time because of the attitude of the employees of the organization. Deficient recruitment method The recruitment method of the company is deficient. None of the people sitting for the interview rounds take the process seriously. They make a mockery of the whole process, and only focus on filling up the empty posts. This leads to the appointment of inefficient staff, and hence, the productivity is low and the attrition rate is high. Excessive time and paper wastage There was a lot of wastage of time and paper in the organization. Documents sent to the Head Office were said to be lost in transit or were partially received, and thus, the regional office had to maintain a lot of back-up copies of every document sent to the head office as proof. Besides, the time-gap between the selection of a candidate for a post to his joining is huge. The candidate is given no confirmation of his employment till the hard copy of his appointment letter is received. This time-gap also leads to losing out efficient employess. Internal politics As in every other organization, BALIC is also infested with widespread internal politics. The clashes between the various departments and among employees of the same department are evident and hamper the functioning of the organization. The organization needs to encourage cross-departmental conversation, and regular team-building exercises need to be undertaken to encourage team-building. Low employee satisfaction Meeting a BALIC employee who was happy and satisfied with his present job was a rarity. Every employee I met was unsatisfied, and on the lookout for an

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opportunity to leave the organization and join any other company. The organization needs to look into the causes of such resentment among the employees and tackle them efficiently.

Negative image of the company Bajaj Allianz Life Insurance Company has a very negative image as a company among the people. I observed this while calling people during the project on recruitment. People were highly reluctant to appear for interview claiming that the pay was too less and the work-pressure was too much. Lack of organised structure within the organization The structure of the organization seems to be highly unplanned. This could be a reason for low employee satisfaction. A year ago, a new post, Branch Manager, was created and 20-25 employees were appointed. A year later, most of these Branch Managers were either fired or demoted as they were an extra cost to the company while they did the same job as a Branch Development Manager. Similarly, I was asked to find suitable candidates for the post of Cluster Head of the Renewals vertical. Candidates were short-listed and interviewed. Later on, the post of Cluster Manager was scrapped.

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FINDINGS:

60% employees said their company using performance appraisal system

30% employee said that their company always tell about the parameters of performance appraisal system. 57% said that they are satisfied with the parameters of performance appraisal system 36% employee said performance appraisal should be conducted two times in a year. 80% said performance appraisal system is unbiased

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LIMITATAIONS

Respondents were very less. Some of the respondents gave the non-serious responses Some respondents left some questions unanswered Some made mistakes in giving the response.

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SUGGESTIONS

Company should maintain the trust over their employee Company should be improved training programme because 30%employee are not satisfied Company should improved promotion criteria based on performance

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Bibliography Aswathappa, K. (2008); Human Resource Management(5th Edition) Tata McGraw-Hill Co. Ltd : New Delhi Zikmund, W.G.(2004); Business Research Methodology(7th Edition) Thomson Asia Pvt Ltd. : Singapore http://www.acas.org.uk/index.aspx?articleid=745 http://profit.ndtv.com http://wikipedia.org Induction presentation Parichay of BALIC

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Annexure
Questionnaire

Dear respondent We are students of 3rd semester, MBA (HR), at SSSETC Gurdaspur. Following questionnaire is a part of our research project. We would be obliged if you would fill in the following details. We assure you that whatever information is supplied by you will remain confidential and would be used for academic purposes only. Name .. Designation Company Head Office

Q1:- Do your company using appraisal system to appraise your performance? Yes No Q2:- Is the company properly and timely communicating with you about the parameter on the basis of which performance are evaluated? Always Sometimes Rarely Q3:- Are you satisfied with the parameter on the basis of which you are evaluated? Extremely Satisfied Satisfied Dissatisfied Extremely Dissatisfied Q4:- How many times the performance appraisal should be conducted in an year? Four Three Two One Q5:- Do you find any biasness from evaluation side may be due to region in your performance appraisal? Yes No Cant say Q6:- Are you satisfied with the evaluation, judgement about your performance and their way of ratting your performance? Extremely Satisfied Satisfied Dissatisfied Extremely Dissatisfied

Q7:- Are you satisfied with the training program provided by the company for improvement/development of your skill?

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Extremely Satisfied Extremely Dissatisfied

Satisfied

Dissatisfied

Q8:- Do you get the counselling intension (Post appraisal interview) from your boss/senior to solve your problem? Always Sometimes Never Q9:- Are you get satisfaction/promotion growth according to your performance Extremely Satisfied Satisfied Dissatisfied Extremely Dissatisfied Q10:- What you think the objective of performance appraisal system of the company? Evaluation Development Both

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