Summer training project

Recruitment procedure in Bajaj Allianz life

insurance

Presented by :-
vijendra kumar meena
11046
 index

 Acknowledgement
 Company Profile
 Industry Profile
 Code of Conduct
 Human Resource Department
 Recruitment
 Organizational Strength
 Organizational Lacks
 Suggestions by Respondents
 Sources of Data Collection
 Learning Experience
 Conclusion
 Acknowledgement

I would like to thank:-

Shilpum Sharma
Vijay Sharma
Kanwar tanwar
 Company Profile

Bajaj Allianz Life Insurance Company Limited is a Union

between Allianz SE & Bajaj auto
Vision
To be the best insurance co. in India to buy from, work
for & invest in

Incorporated: 12 March 2001

In Life Insurance Industry and amongst private sector
players they are the ranked No1.with 26.5% market
shares.
It has more than 600 offices in 560 towns

continued………
 continued

 Products: -
1. Individual plans: -
 Unit Linked insurance plans
 Traditional insurance plans
 Pension plans
 Term plans
2. Group Life Plans:
 Group Credit Shield
 Group Term Life
 Group Term Life Scheme in lieu of EDLI
 Group Gratuity Care
 Group Superannuation Care
 Small Group Term Life
 Industry profile

 World’s Largest Insurance co. by revenue – Rs 5,

20,353 Cr (Euro 96.9 billion)
Worldwide 2nd by Gross Written Premiums – Rs 4,
77,930 Cr (Euro 89 billion)
11th largest corporations in the world
More than 70 countries, 173,750 employees
worldwide
 Network for reach

Strong Branch Network of 1000+ Branches and

growing....
Over 10000+ Sales Term Managers
300,000+ Insurance Care Consultants
170+ Bancassurance partners across the country
Strong alternate channel with 2200 Franchisees, 200
corporate agents, 74 brokers and 28 direct marketing
branches.
 Distribution network

Bajaj Allianz Life Insurance - Distribution Network

Agency Bancassurance
Channel Group & Alternate
Channel
Standard Chartered
Branches (257)
Bank
Employee Benefit

Satellites (643) Syndicate Bank

Corporate Agents
GE Money

Franchisees
Urban Co-Op Banks
Over 2,00,000 strong Tied Direct Mktg
Dist. Co-Op Bank
Agency Force and growing Brokers
Regional Rural Banks
Rapidly everyday
Catering to mass & rural
markets
 Code of conduct

1. Principle: Fair and Regulator Conduct of Business

2. Professional Development: based upon Performance and Potential
3. Professional Development: based upon Performance and Potential
4. No Insider Trading or Recommendation
5. Communication, Professional Independence of Journalists and
Media
6. Customer Information and Advice
7. Potential Conflicts of Interest with Clients and Business Partners
8. Complaints Management
9. Financial Reporting
10. No Corruption or Bribery
11. . Acceptance of Gifts and other Benefits
 Continued.

12. Gratuities to Representatives of Public Institutions

13. Political and Charitable Contributions/ Sponsorship
14. Granting of Gifts and other Benefits/ Invitations to Entertainment
15. Potential Conflicts between Private Interests of Employees and Allianz
Group/ OE Interests
16. Licenses and Registration
17. Acceptance and Handling of Client’s Funds and Valuables
18. Protection of Group Property and of Natural Resources
19. Prevention of Money Laundering and Financing of Terrorism, no Illegal
Activities
20.Ethical Conduct of Business
21. Consequences of Non-Compliance
22. Protection of Employees in Case of Communication about Illegal or
Questionable Activities
 Human resource department

Training
Skill development and up gradation o knowledge and
skills of employees.
Motivating the employees.
Effective utilization of employee's skills and
capabilities.
Attracting the personnel and their retention.
Wages, salaries and rewards.
Monitoring and controlling the employee's
performance.
 Continued…..

 Job Description: -
Job Title
Job Summary
Job Activities
Job Specification:
Educational Qualification
Experience
Skills
Knowledge
Ability
 Recruitment

 Recruitment is a ‘linking function’ – “joining

together those with jobs to fill and those
seeking jobs.”
It 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.
 Purpose of Recruitment

1. Determine the present and future requirements of the

organization
2. Increase the pool of hob candidates at minimum cost.
3. Help increase the success rate of the selection process
4. Increase organizational and individual effectiveness in the
short term and long term.
5. Help reduce the probability that hob applicants, once
recruited and selected, will leave the organization only after
a short period of time.
6. Begin identifying and preparing potential hob applicants
who will be appropriate candidates.
7. Meet the organization’s legal and social obligations
regarding the composition of its work force.
 Employee grade

L5 Department heads

L4 Regional/sales heads

L3 Functional/sr. managers

L2
Managers/supervisory roles

L1
Executives/customer support executives
RECRUITMENT-BROAD PERSPECTIVE

Job Analysis Personal

Planning

Nature & requirement No. of specific jobs to

of specific jobs be filled

Recruitment
Constraints Inducements

Poor Image •Compensation

Pool of Qualified •Career Opportunities
Unattractive job applicants •Image
•Reputation
Government
policy
Selection
 METHODS OF RECRUITMENT

1. Internal methods a. Promotion and Transfers

b. Posting
c. Employee Referrals

2. Direct methods a. Campus Recruitment

3. Indirect methods a. Advertisements

b. Newspapers ads
c. Internet ads

4. Third Party Methods a. Private employment search firms

b. Employment exchanges
c. Gate hiring & contractors
d. Unsolicited applicants/walk-ins
5. Alternatives to recruitment a. Overtime
b. Contracting
c. Temporary leasing
EXISTING RECRUITMENT PROCESS

MANPOWER

REQUIREMENTS IN
DIFFERENT
DEPARMENT

HUMAN RESOURCE
DEPARTMENT

STRATEGY
DEVELOPMENT

•WHERE
•HOW
•WHEN

IMPLEMENTING THE Receipts of

STRATEGIES applicants
 General Recruitment Process of Bajaj
Allianz

1. C.V. is collected through internal sources or external

sources
2. CV’s are as per the requirement or not.
3. Normal caliber test or normal aptitude test is held.
4. Interview assessment sheet is generated
5. Interview is taken by the interviewer
6. After the approval the letter is sent to the Mumbai head
office.
7. From here, appointment letter is generated and they’ll
get back to the concerned location within 4-6 days. This
is approved by the H.O.D. of Bajaj Allianz, Mr. Yogesh
Gupta and the H.R. Head, Mr. Jaydeep Chaure
 Organizational Strengths

Employees have positive view towards management.

People are satisfied with HR practices.
People are nurtured carefully as they are key assets.
Less absenteeism.
Performance Appraisal is adopted.
People feel enjoy to work here.
Aimed towards the overall development of individual.
No place for inter or intra departmental conflicts.
Customer delighted is more emphasized.
Problems are taken as opportunity and solved with team
efforts
 Organizational Lacks

Employee turnover rate is very high.

Hierarchy level is high.
Working Process is very complicated, so its not easily
understandable.
Sometimes customers are not in favor of the
company policy.
Formal environment of the organization, employees
can't do their work according to them.
 Suggestions by Respondents

HR should co-ordinate with more people.

HR should concern about the employees.
More responsibilities should be given to individual and to
give more space to work.
Along with discipline and entertainment, games activities are
to be increased to keep team member happy and fresh.
Select right person for right job.
Should understand people's want and career plan.
Plan more activities for personnel development.
Team spirit among team members should be encouraged.
 Continued……..

Arrange training for development of people in

supervisory skills, leadership, management and English
speaking.
Send staff for more and more exposure training.
They need to allocate more funds for Welfare Expenses
and Recruitment
A close view towards competitors HR practices should be
given and they should be adopted in the department.
Worker's participation in management should be
encouraged to a large extent and not only for decisions
related to them.
HR practices like Performance Appraisal etc. are
required to be more emphasis
SITUTIONAL AUDIT FOR RECRUITMENT

Potential
applicants

Internal
Need for
Organization need suitable
Applica
For high nts Job
Quality employees

Economic

Social

Technological

Political
 SOURCES OF Data Collection

INTERNAL SOURCES
Primary sources
Secondary sources;
a) Retrenched employees
b) Retired employees
c) Dependent of deceased employees

Training Managers
Colleagues and Friends
Personal Talk
 Continued …..

 EXTERNAL SOURCES
a) Employees working in other organizations.
b) Job aspirants registered with employment exchanges.
c) Students from reputed educational institution.
d) Candidates forwarded by search firms and contractors.
e) Candidates responding to the advertisements, issued by the organization.
f) Unsolicited applications/walk-ins.
g) Internet
h) Literature of Bajaj Allianz Co. Ltd
i) Literature of HR department
j) Bajaj Allianz magazines
k) Relevant Books
l) Product Brochures
m) Others Sources
 Learning Experience

“problem is a problem only when perceived it as a

problem”.
I've learned to take problems as opportunities and
tried to overcome that
things like how to talk in a formal settings or how to
react, how to handle things, which really added to
improve my personality.
 Continued…

I learned how we will check the attendance of

employee and how would regularize the attendance.
CV scanning is very important in selection of
employee.
How we do interview assessment in organization.
Performance management is very important in
organization.
 Conclusion

Bajaj Allianz is a joint venture of Bajaj Auto and Allianz SE.

Bajaj Auto is one of the largest 2 and 3 wheeler
manufacturing in the world and Allianz SE is world' s
largest insurance company by revenue – Rs.5, 20,353 Cr
(Euro 96.9 billion)
The corporate staff is equipped with the latest technology
as laptops, intranet, data cards etc and is surrounded by
the congenial environment
 The employees are being provided with their variable
payouts twice in a year and the consultant with MUFAI,
which is Asia' s second largest consultant company.
The all HR practices, which followed, are suitable and
adaptable by the employees.
Thank you

Q&A