Summer training project

Recruitment procedure in Bajaj Allianz life insurance

Presented by :- vijendra kumar meena 11046

index

AcknowledgementCompany ProfileIndustry ProfileCode of ConductHuman Resource DepartmentRecruitmentOrganizational StrengthOrganizational LacksSuggestions by RespondentsSources of Data CollectionLearning ExperienceConclusion

Acknowledgement

I would like to thank:-Shilpum SharmaVijay SharmaKanwar tanwar

Company Profile

Bajaj Allianz Life Insurance Company Limited is a Union between Allianz SE & Bajaj auto

VisionTo be the best insurance co. in India to buy from,

work for & invest in

Incorporated: 12 March 2001In 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

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Products: -1. Individual plans: - Unit Linked insurance plans Traditional insurance plans Pension plans Term plans2. 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 worldMore than 70 countries, 173,750 employees

worldwide

Network for reach

Strong Branch Network of 1000+ Branches and growing....

Over 10000+ Sales Term Managers300,000+ Insurance Care Consultants170+ Bancassurance partners across the

countryStrong alternate channel with 2200

Franchisees, 200 corporate agents, 74 brokers and 28 direct marketing branches.

Distribution network

Bajaj Allianz Life Insurance - Distribution Network

Agency Channel

Branches (257)

Satellites (643)

Bancassurance

Standard Chartered Bank

Syndicate Bank

Urban Co-Op Banks

Dist. Co-Op Bank

Regional Rural Banks

Catering to mass & rural markets

Group & Alternate Channel

Employee Benefit

Corporate Agents

Franchisees

Direct Mktg

Brokers

Over 2,00,000 strong Tied

Agency Force and growing

Rapidly everyday

GE Money

Code of conduct

1. Principle: Fair and Regulator Conduct of Business2. Professional Development: based upon Performance and

Potential 3. Professional Development: based upon Performance and

Potential 4. No Insider Trading or Recommendation5. Communication, Professional Independence of

Journalists and Media6. Customer Information and Advice 7. Potential Conflicts of Interest with Clients and Business

Partners8. Complaints Management9. Financial Reporting10. No Corruption or Bribery11. . 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-Compliance22. Protection of Employees in Case of Communication about

Illegal or Questionable Activities

Human resource department

TrainingSkill 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 TitleJob SummaryJob ActivitiesJob Specification: Educational QualificationExperience 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 of

specific jobs

No. of specific jobs to be filled

Recruitment

Constraints

Poor Image

Unattractive job

Government policy

Inducements

CompensationCareer OpportunitiesImageReputation

Pool of Qualified applicants

Selection

METHODS OF RECRUITMENT

1. Internal methods a. Promotion and Transfersb. Posting c. Employee Referrals

2. Direct methods a. Campus Recruitment

3. Indirect methods a. Advertisementsb. Newspapers adsc. Internet ads

4. Third Party Methods a. Private employment search firms

b. Employment exchangesc. Gate hiring & contractorsd. Unsolicited applicants/walk-ins

5. Alternatives to recruitment a. Overtimeb. Contractingc. Temporary leasingd. Employee leasing

EXISTING RECRUITMENT PROCESS

MANPOWER

REQUIREMENTS IN DIFFERENT DEPARMENT

HUMAN RESOURCE DEPARTMENT

STRATEGYDEVELOPMENT

WHEREHOWWHEN

IMPLEMENTING THE STRATEGIES

Receipts of 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 generated5. Interview is taken by the interviewer6. 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 RecruitmentA 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

Organization need

For high

Quality employees

Potential applicants

Need for suitable

Job

Internal

Applicants

Economic

Social

Technological

Political

SOURCES OF Data Collection

INTERNAL SOURCESPrimary sourcesSecondary sources;a) Retrenched employeesb) Retired employeesc) Dependent of deceased employees

Training ManagersColleagues and FriendsPersonal Talk

Continued …..

EXTERNAL SOURCESa)   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) Interneth) Literature of Bajaj Allianz Co. Ltdi) Literature of HR departmentj) Bajaj Allianz magazinesk) Relevant Booksl) Product Brochuresm)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.

Q & A

Thank you