Seminar report

AA

SEMINAR REPORT

ON

(Recruitment Process Of Bajaj Allianz for sales cader)

BY

(TUSI LUNIA)

Roll no : 5053607114

2007 - 2009

IN PARTIAL FULFILLMENT OF

MASTER OF BUSINESS ADMINISTRATION DEGREE

DISHA INSTITUTE OF MANAGEMENT AND TECHNOLOGY, RAIPUR

CERTIFICATE

This is to certify that Miss TUSI LUNIA of DIMAT, MBA Semester –IV has

successfully completed the Seminar Report on “Recruitment Process Of Bajaj

Allianz for Sales Cader” in partial fulfillment of requirement for the award of

MBA Degree prescribed by the Chattisgarh Swami Vivekanand Technical

University, Bhillai.

This report is the record of authentic work carried out by the student during the

academic year 2008-09.

(Dr. J.H Vyas) Prof. N. H. Deshpande

Internal Guide Vice-President

(Faculty of Management) (Faculty of Management)

2

DECLARATION

I Ms. TUSI LUNIA hereby declare that this seminar report on “Recruitment

Process Of Bajaj Allianz for Sales Cader” is the record of authentic work

carried out by me during the academic year 2008-2009

( )

Signature of the student

(TUSI LUNIA)

Name of the student

3

ACKNOWLEDGEMENT

I would like to warmly thank to all my colleagues and faculties Of Disha

Institute of Management And Technology who have been enormously helpful

in guiding and assisting in the preparation of this project and helping me to

develop, my skill and knowledge as without their support this project would have

not have been accomplished.

I admit my sincere thanks to Dr. J.H Vyas faculty of DIMAT Raipur who guided

me to carry out this study. I would also like to thank him for his important

guidance and support during the course of this project.

My sincerest thanks to all my friends who gave their precious time to answer my

questions and give me required data for my project.

Place: Raipur

Date:

4

I NDEX

S.No. Pt. No.

Particular Page No.

Abstract i

Acknowledgement ii

List of figures iii

1 1 INTRODUCTION 6

2 1.1 Objective of Study 6

3 2.1 Origin of the Organization 7

4 2.1.1 About Bajaj Group 8

5 2.1.2 About Allianz Group 9

6 2.3 IRDA Certificate 11

7 2.4 Tie up with Banks 11

8 2.5 Bajaj Allianz General Insurance Company Ltd. 12

9 2.6 Vision 12

10 2.7 Mission 13

11 2.8 Core Values n Achivement 13

12 2.9 Organization Structure at Management Level 15

13 2.10 Network for Reaching Customer 16

14 3 Recruitment Process at Bajaj Allianz Life Insurance Company Ltd. 17

15 3.1 Meaning of Recruitment 18

16 3.2 Types of Job Seekers 20

17 3.3 Recruitment Policy of the Company 21

18 3.4 External Factors Effecting Recruitment 24

19 3.5 Recent Trends in Recruitment 25

20 3.6 Recruitment Management System 27

21 3.7 Recruitment Process at Bajaj Allianz Life Insurance Company Ltd. 28

22 3.8 Arranging & Conducting Interview 30

23 3.9 Training & Development 34

24 3.10 SWOT Analysis of Bajaj Allianz 36

25 4 APPENDIX (leaflets, Brochures) 37

26 5 Bibliography 37

5

List of figures

Title Page no.

2-1-1 Bajaj allianz 13

2.1.2 Manager level 15

2.1.3 structure 16

2.1.4 Recruitment policy 28

1.INTRODUCTION

1.1 OBJECTIVE OF THE STUDY

Insurance Industry is the fastest growing sector at a rapid pace in India. In this

industry every company wants to the best employees in its organization. As there

is great competition in Indian market, the every company has its own recruitment

process to increase the performance of the organization for profit maximization.

The Recruitment process plays very Important role in Insurance Industry as in

this industry human resource is the main part of the organization. In this report

we will study the “RECURITMENT PROCESS OF BAJAJ ALLIANZ LIFE

INSURANCE CO. LTD.”. To get the knowledge about the Insurance Industry I

have chosen Bajaj Allianz Life Ins. Co. Ltd., Raipur Branch. In this training I have

tried to find the Importance of Recruitment Process in Insurance Industry.

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In the upcoming future of Insurance industry, H R Department have to emphasis

more & more on there Recruitment Process activities as the no. of companies is

increasing & the competition in the market too, in the upcoming future, So, in the

future H R Department will play an important role in recruiting the best employee

in the organization.

BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD.

2.1ORIGIN OF THE ORGANISATION:

2.1.1. ABOUT BAJAJ GROUP

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The Bajaj Group is amongst the top 10 business houses in India. Its footprint

stretches over a wide range of industries, spanning automobiles (two-wheelers

and three-wheelers), home appliances, lighting, iron and steel, insurance, travel

and finance. The group’s flagship company, Bajaj Auto, is ranked as the world’s

fourth largest two- and three- wheeler manufacturer and the Bajaj brand is well-

known in over a dozen countries in Europe, Latin America, the US and Asia.

Founded in 1926, at the height of India's movement for independence from the

British, the group has an illustrious history. The integrity, dedication,

resourcefulness and determination to succeed which are characteristic of the

group today, are often traced back to its birth during those days of relentless

devotion to a common cause. Jamnalal Bajaj, founder of the group, was a close

confidant and disciple of Mahatma Gandhi. In fact, Gandhiji had adopted him as

his son. This close relationship and his deep involvement in the independence

movement did not leave Jamnalal Bajaj with much time to spend on his newly

launched business venture.

His son, Kamalnayan Bajaj, then 27, took over the reins of business in 1942. He

too was close to Gandhiji and it was only after Independence in 1947, that he

was able to give his full attention to the business. Kamalnayan Bajaj not only

consolidated the group, but also diversified into various manufacturing activities.

The present Chairman of the group, Rahul Bajaj, took charge of the business in

1965. Under his leadership, the turnover of the Bajaj Auto the flagship company

has gone up from Rs.72 million to Rs.100.76 billion (USD 2.3 billion), its product

portfolio has expanded from one to and the brand has found a global market. He

is one of India’s most distinguished business leaders and internationally

respected for his business acumen and entrepreneurial spirit.

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Bajaj Auto is the flagship of the Bajaj group of companies. The group comprises

of 27 companies and was founded in the year 1926. The companies in the group

are:

Bajaj Auto Ltd. Mukand International Ltd.

Mukand Ltd. Mukand Engineers Ltd.

Bajaj Electricals Ltd. Mukand Global Finance Ltd.

Bajaj Hindustan Ltd. Bachhraj Factories Pvt. Ltd.

Maharashtra Scooters Ltd. Bajaj Consumer Care Ltd.

Bajaj Auto Finance Ltd. Bajaj Auto Holdings Ltd.

Hercules Hoists Ltd. Jamnalal Sons Pvt. Ltd.

Bajaj Sevashram Pvt Ltd. Bachhraj & Company Pvt. Ltd.

Hind Lamps Ltd. Jeevan Ltd.

Bajaj Ventures Ltd. The Hindustan Housing Co Ltd.

Bajaj International Pvt Ltd. Baroda Industries Pvt Ltd.

Hind Musafir Agency Pvt Ltd. Stainless India Ltd.

Bajaj Allianz General Insurance Company Ltd.

Bombay Forgings Ltd.

Bajaj Allianz Life Insurance Company Ltd.        

2.1.2. ABOUT ALLIANZ GROUP

Founded in 1890, the Allianz Group is one of the

leading global services providers in insurance,

banking and asset management. With approximately 181,000 employees

worldwide the Allianz Group serves more than 80 million customers in about 70

countries.The Allianz Group is one of the leading global services providers in

insurance, banking and asset management.

With 181,124 employees worldwide (as of June 30, 2008), the Allianz

Group serves more than 80 million customers in about 70 countries. On the

9

insurance side, Allianz is the market leader in the German market and has a

strong international presence. In fiscal 2007 the Allianz Group achieved total

revenues of over 102 billion euros. Allianz is also one of the world’s largest asset

managers, with third-party assets of 765 billion euros under management at year

end 2007.

In 2006 Allianz SE, the parent company, became the first company in the Dow

Jones EURO STOXX 50 Index to adopt the legal form of a Societas Europaea,

which is a new European legal form for stock corporations. Allianz SE is

headquartered in Munich, Germany.

Beyond the quality of our financial performance, a number of other activities and

factors are important for the sustainable growth of our competitive strength and

company value. These include, but are not limited to, our global diversification,

the reduction of complexity, our value-based management approach, and our

crucially important employees.

2.2. BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD.

Bajaj Allianz Life Insurance Company Limited is a Union between Allianz SE, one

of the largest Life insurance companies and Bajaj Auto, one of the biggest 2- & 3-

manufacturers in the world.

Allianz SE is a leading Insurance conglomerate globally and one of the largest

asset in the world, managing assets worth over a Trillion Euros (over R.

55,00,000 crores) SE has over 115 years of financial experience in over 70

countries.

Bajaj Auto is one of the most trusted name in Indian auto for over 55 years. At

Bajaj customer delight is our guiding principal. Ensuring world-class solutions by

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offering customer products with transparent benefits, supported by best

technology is our business philosophy.

Accelerated Growth

Fiscal year No. of policies sold in FY New Business in FY

2001-2002(6

mths)

21,376 7

2002-2003 1,15,965 69

2003-2004 1,86,443 180

2004-2005 2,88,189 857

2005-2006 7,81,685 2717

2006-2007 20,79,217 4270

2.3. IRDA CERTIFICATE

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2.4. Tie Ups with Banks

2.5. BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD.

Bajaj Allianz General Insurance Company Limited is a joint venture between

Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz

SE. Both enjoy a reputation of expertise, stability and strength.

Bajaj Allianz General Insurance received the Insurance Regulatory and

Development Authority (IRDA) certificate of Registration on 2nd May, 2001 to

conduct General Insurance business (including Health Insurance business) in

India. The Company has an authorized and paid up capital of Rs 110 crores.

Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE.

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As on 31st March 2008, Bajaj Allianz General Insurance maintained its premier

position in the industry by garnering a premium income of Rs. 2578 crore,

achieving a growth of 43 % over the last year.Bajaj Allianz has made a profit

before taxes of Rs. 167 crore and is the first company to cross the Rs.100 crores

mark in profit after tax by generating Rs. 105 crores.

In the first quarter of 2008-09, the company garnered a gross premium of

Rs.733.53 crores against Rs.573.73 core last year for the same period

registering a growth of 28%.

Bajaj Allianz today has a countrywide network connected through the latest

technology for quick communication and response in over 200 towns spread

across the length and breadth of the country. From Surat to Siliguri and Jammu

to Thiruvananthapuram, all the offices are interconnected with the Head Office at

Pune.

2.6. VISION

To be the first choice insurer for customers

To be the preferred employer for staff in the insurance industry.

To be the number one insurer for creating shareholder value

2.7 MISSION

As a responsible, customer focused market leader, we will strive to understand

the insurance needs of the consumers and translate it into affordable products

that deliver value for money.

A Partnership Based on Synergy Bajaj Allianz General Insurance offers technical

excellence in all areas of General and Health Insurance as well as Risk

Management. This partnership successfully combines Bajaj Auto's in-depth

understanding of the local market and extensive distribution network with the

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global experience and technical expertise of the Allianz Group. As a registered

Indian Insurance Company and a capital base of Rs. 110 crores, the company is

fully licensed to underwrite all lines of general insurance business including

health insurance.

2.8. CORE VALUES

Customer First Always: Give first

priority to customer needs. Look to

build enduring relationships with

customers - internal and external.

Differences should be

communicated in the spirit of

relationship building

Organization Above Self: We

believe that individual, team and

department actions will be driven

by organization goals

Trust: We believe that there cannot be teamwork without mutual trust. Trust is

fundamental to our business and will guide all internal and external interactions

High Standards: We believe that excellence can be achieved only by setting

benchmarks that challenge our full potential as an organization and as individuals

Shared Ownership: We believe that ownership of success or failure in achieving

organizational or team goals is shared by all

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DIVISIONAL MANAGER (DM)

BRANCH MANAGER (BM)

MARKETING DEPARTMENT

MANAGER

HUMAN RESOURCE

DEPARTMENT MANAGER

ADMINISTRATIONDEPARTMEN

T MANAGER

INSURANCE CONSULTANT

CEO(KAMAL GOYAL)

ZONAL MANAGER (ZM)

REGIONAL MANAGER (RM)

STATE MANAGER (SM)

SALES MANGER’S

Spirit of Adventure: Uncertainty is our business and we believe in continuous

innovation and creativity to meet challenges head-on. We will foster a work

culture that promotes risk taking and entrepreneurship

Respect for Diversity: We believe that diversity is our strength and it needs to

be nurtured. We recognize that team members have varying backgrounds,

competencies and ideas and constructive action results only when opinions are

aired and understood

ACHIEVEMENTS

Bajaj Allianz has received "iAAA rating, from ICRA Limited, an associate of

Moody's Investors Services, for Claims Paying Ability.This rating indicates

highest claims paying ability and a fundamentally strong position.

2.9 . ORGANISATION STRUCTURE AT MANAGEMENT LEVEL

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Bajaj Allianz Life Insurance –

Distribution Network

Bajaj Allianz Life Insurance –

Distribution Network

Agency ChannelAgency Channel Banc assuranceBanc assuranceGroup & Alternate

ChannelGroup & Alternate

Channel

Branches (257)Branches (257)Standard Chartered

BankStandard Chartered

Bank

Satellites (643)Satellites (643)

Over 2,00,000 Strong Tied Agency force &

growing rapidly every day

Over 2,00,000 Strong Tied Agency force &

growing rapidly every day

Employee BenefitEmployee Benefit

Syndicate BankSyndicate Bank Corporate AgentsCorporate Agents

GE MoneyGE Money FranchiseesFranchisees

Urban Co-op. BankDist. Co.-op. BankRegional Rural Banks

Catering to mass & rural markets

Urban Co-op. BankDist. Co.-op. BankRegional Rural Banks

Catering to mass & rural markets

Direct MarketingDirect Marketing

BrokersBrokers

2.10. NETWORK FOR REACHING CUSTOMER’S

Strong Branch Network of 900+ Branches & Growing…

Over 10000+ Sales Team Managers

200,000+ Insurance Care Consultants

170+ Bancassurance Partners across the country

Strong alternate channel with 2200 Franchisees, 200 corporate agents, 74

brokers & 28 direct marketing branches

16

3. RECRUITMENT PROCESS AT BAJAJ ALLIANZ LIFE

INSURANCE COMPANY LTD.

Recruitment is an important part of an

organization’s human resource planning

and their competitive strength. Competent

human resources at the right positions in

the organisation are a vital resource and

can be a core competency or a strategic

17

advantage for it.

The objective of the recruitment process is to obtain the number and quality of

employees that can be selected in order to help the organisation to achieve its

goals and objectives. With the same objective, recruitment helps to create a pool

of prospective employees for the organisation so that the management can

select the right candidate for the right job from this pool. Recruitment acts as a

link between the employers and the job seekers and ensures the placement of

right candidate at the right place at the right time. Using and following the right

recruitment processes can facilitate the selection of the best candidates for the

organisation.

In this is competitive global world and increasing flexibility in the labour market,

recruitment is becoming more and more important in every business. Therefore,

recruitment serves as the first step in fulfilling the needs of organisations for a

competitive, motivated and flexible human resource that can help achieve its

objectives.

Employee attrition and retention of talented employees has been a significant

issue not only for your Company but for all companies in the corporate and non-

corporate sectors. Never before in recent history has it been more difficult to

attract and retain talent. The insurance industry, post liberalization in 2001, is

also in a nascent stage and people with specialized skills in insurance are no

longer available in the market in the numbers required to meet demands of

growth. The emergence of new companies into the general insurance space in

India is expected to keep attrition at high levels.

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In a scenario like this, your Company has focused on creating and sustaining a

culture, which is transparent and performance driven. Aligned with this is also a

dedicated focus on investing in training and development of employees so that

they acquire skills relevant to the business. Your company continues to have an

excellent brand image amongst prospective employees due to its reputation for

fairness. Several initiatives of your company for development of the employees

have been well accepted by existing as well as potential employees. The Young

Leaders program has supplemented the Accelerated Development Programme

for middle management and the Junior Management Program for executive staff.

The STRIDE program gives high performing employees at executive level to

seek promotions to a managerial role through a rigorous process

of identification and selection. The Talent Management System, which identifies

employees who are high performers and who are critical resources, is now an

integral part of your Company’s human resources program. Your Company also

sends staff on external training programs within India and abroad, when the need

arises. The Company also has in place a long-term retention plan for key

employees.

3.1. MEANING OF RECRUITMENT

According to Edwin B. Flippo, “Recruitment is the process of searching the

candidates for employment and stimulating them to apply for jobs in the

organisation”. Recruitment is the activity that links the employers and the job

seekers. A few definitions of recruitment are:

A 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 applications from which

new employees are selected.

It is the process to discover sources of manpower to meet the requirement

of staffing schedule and to employ effective measures for attracting that

19

manpower in adequate numbers to facilitate effective selection of an

efficient working force.

Recruitment of candidates is the function preceding the selection, which helps

create a pool of prospective employees for the organisation so that the

management can select the right candidate for the right job from this pool. The

main objective of the recruitment process is to expedite the selection process.

Recruitment is a continuous process whereby the firm attempts to develop a pool

of qualified applicants for the future human resources needs even though specific

vacancies do not exist. Usually, the recruitment process starts when a manger

initiates an employee requisition for a specific vacancy or an anticipated vacancy.

RECRUITMENT NEEDS ARE OF THREE TYPES

PLANNED

i.e. the needs arising from changes in organization and retirement policy.

ANTICIPATED

Anticipated needs are those movements in personnel, which an organization can

predict by studying trends in internal and external environment.

UNEXPECTED

Resignation, deaths, accidents, illness give rise to unexpected needs.

3.2. TYPES OF JOB SEEKERS

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1.Quid-Pro-Que

These are the people who say that “ I can do this for you, what can you give me”

These people value high responsibilities, higher risks, and expect higher

rewards, personal development and company profiles doesn’t matter to them.

2. I will be with you

These people like to be with big brands. Importance is given to brands. They are

not bothered about work ethic, culture mission etc.

3. I will do you what you want

These people are concerned about how meaningful the job is and they define

meaning parameters criteria known by previous job.

4. Where do you want me to come

These people observe things like where is your office, what atmosphere do you

offer. Career prospects and exciting projects don’t entice them as much. It is the

responsibility of the recruiter to decide what the employee might face in given job

and thus take decision. A good decision will help cut down employee retention

costs and future recruitment costs.

3.3. RECRUITMENT POLICY OF THE COMPANY

Recruitment Policy

Bajaj Auto is an equal opportunity employer. Selection is based strictly on

individual merit.

A large number of our recruits are fresh engineers and MBAs. Natural attrition is

usually taken care of by promotions and horizontal movements within the

21

organisation to provide career opportunities for our employees. Occasionally,

specific skill-sets may warrant lateral recruitment.

Entry level Recruitment

Engineers: We recruit Engineering Graduates from reputed institutes from all

over India. Bajaj Auto enjoys an excellent reputation with all National Institutes of

Technology (NITs) and is among the preferred employers for on-campus

recruitment. The selection process comprises a written test in technical,

analytical and logical reasoning, group discussion and personal interview.

Management Graduates: We recruit management graduates from reputed

management institutes all over India. The selection procedure comprises a

written test in analytical and logical reasoning, group discussion and personal

interview.

All entry-level selections are made through on-campus recruitment only.

After recruitment, new entrants undergo a thorough induction-training programme

before their placement in the company. Departments are allocated on the basis

of the individual recruit’s aptitude and our requirements. Usually, after completing

two years of service they are provided opportunities for job-rotation.

Work Culture

Our work culture supports and enhances our brand. The Bajaj brand signifies

excitement. Bajaj strives to inspire confidence through excitement engineering.

The culture is built on core values of learning, innovation, perfection, speed and

transparency. Facilitative leadership style helps in developing leaders at all levels

and establishes accountability.

Our Brand Values

We live our brand by its values of Innovation, Perfection, and Speed. Bajaj will

be distinctly ahead through excitement engineering. Innovation is how we

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create the future. It is a value that provokes us to reach beyond the obvious in

pursuit of that which exceeds the ordinary.

Perfection is how we set new standards. It is a value that exhibits our

determination to excel by endeavoring to establish new benchmarks all the time.

Speed is how we convey clear conviction.

It is a value that keeps us sharply responsive, mirroring our commitment towards

our goals and processes.

Competency Building

Bajaj Auto has a very flat organisation structure with three management levels.

Each level represents a specific role and hence needs relevant competencies.

Competency building at Bajaj Auto is a combination of development for current

and future roles.

We cater to these needs by using interventions like development centres, need-

based training and job-rotation plans. We use different methods of imparting

training like lectures, group-discussions, role-plays, seminars, outbound training,

assignments and on-the-job tasks.

Compensation Philosophy

We strive to be amongst the top quartile in our compensation structure.

Competence and performance are the key drivers of our compensation policy. A

significant part of the compensation is in the form of variable pay linked to the

individual’s and the organisation’s performance.

In today’s rapidly changing business environment, a well defined recruitment

policy is necessary for organizations to respond to its human resource

requirements in time. Therefore, it is important to have a clear and concise

recruitment policy in place, which can be executed effectively to recruit the best

23

talent pool for the selection of the right candidate at the right place quickly.

Creating a suitable recruitment policy is the first step in the efficient hiring

process. A clear and concise recruitment policy helps ensure a sound

recruitment process.

It specifies the objectives of recruitment and provides a framework for

implementation of recruitment programme. It may involve organizational system

to be developed for implementing recruitment programmes and procedures by

filling up vacancies with best qualified people.

COMPONENTS OF THE RECRUITMENT POLICY

The general recruitment policies and terms of the organisation

Recruitment services of consultants

Recruitment of temporary employees

Unique recruitment situations

The selection process

The job descriptions

The terms and conditions of the employment

A recruitment policy of an organization should be such that:

It should focus on recruiting the best potential people.

To ensure that every applicant and employee is treated equally with

dignity and respect.

Unbiased policy.

To aid and encourage employees in realizing their full potential.

Transparent, task oriented and merit based selection.

Weightage during selection given to factors that suit organization

needs.

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Optimization of manpower at the time of selection process.

Defining the competent authority to approve each selection.

Abides by relevant public policy and legislation on hiring and

employment relationship.

Integrates employee needs with the organisational needs.

FACTORS AFFECTING RECRUITMENT POLICY

Organizational objectives

Personnel policies of the organization and its competitors.

Government policies on reservations.

Preferred sources of recruitment.

Need of the organization.

Recruitment costs and financial implications.

3.4. EXTERNAL FACTORS AFFECTING RECRUITMENT

The external forces are the forces which cannot be controlled by the

organization. The major external forces are:

1. SUPPLY AND DEMAND

The availability of manpower both within and outside the organization is an

important determinant in the recruitment process. If the company has a demand

for more professionals and there is limited supply in the market for the

professionals demanded by the company, then the company will have to depend

upon internal sources by providing them special training and development

programs.

2. LABOUR MARKET

25

Employment conditions in the community where the organization is located will

influence the recruiting efforts of the organization. If there is surplus of manpower

at the time of recruitment, even informal attempts at the time of recruiting like

notice boards display of the requisition or announcement in the meeting etc will

attract more than enough applicants.

3. IMAGE / GOODWILL

Image of the employer can work as a potential constraint for recruitment. An

organization with positive image and goodwill as an employer finds it easier to

attract and retain employees than an organization with negative image. Image of

a company is based on what organization does and affected by industry. For

example finance was taken up by fresher MBA’s when many finance companies

were coming up.

4. POLITICAL-SOCIAL- LEGAL ENVIRONMENT

Various government regulations prohibiting discrimination in hiring and

employment have direct impact on recruitment practices. For example,

Government of India has introduced legislation for reservation in employment for

scheduled castes, scheduled tribes, physically handicapped etc. Also, trade

unions play important role in recruitment. This restricts management freedom to

select those individuals who it believes would be the best performers. If the

candidate can’t meet criteria stipulated by the union but union regulations can

restrict recruitment sources.

5. UNEMPLOYMENT RATE

One of the factors that influence the availability of applicants is the growth of the

economy (whether economy is growing or not and its rate). When the company is

26

not creating new jobs, there is often oversupply of qualified labour which in turn

leads to unemployment.

6. COMPETITORS

The recruitment policies of the competitors also effect the recruitment function of

the organisations. To face the competition, many a times the organisations have

to change their recruitment policies according to the policies being followed by

the competitors.

3.5. RECENT TRENDS IN RECRUITMENT

The following trends are being seen in recruitment:

1. OUTSOURCING

In India, the HR processes are being outsourced from more than a decade

now. A company may draw required personnel from outsourcing firms. The

outsourcing firms help the organisation by the initial screening of the

candidates according to the needs of the organisation and creating a suitable

pool of talent for the final selection by the organisation. Outsourcing firms

develop their human resource pool by employing people for them and make

available personnel to various companies as per their needs. In turn, the

outsourcing firms or the intermediaries charge the organisations for their

services.

Advantages of outsourcing are:

Company need not plan for human resources much in advance.

Value creation, operational flexibility and competitive advantage

turning the management's focus to strategic level processes of HRM

Company is free from salary negotiations, weeding the unsuitable

resumes/candidates.

Company can save a lot of its resources and time

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2. POACHING/RAIDING

“Buying talent” (rather than developing it) is the latest mantra being followed

by the organisations today. Poaching means employing a competent and

experienced person already working with another reputed company in the

same or different industry; the organisation might be a competitor in the

industry. A company can attract talent from another firm by offering attractive

pay packages and other terms and conditions, better than the current

employer of the candidate. But it is seen as an unethical practice and not

openly talked about. Indian software and the retail sector are the sectors

facing the most severe brunt of poaching today. It has become a challenge for

human resource managers to face and tackle poaching, as it weakens the

competitive strength of the firm.

3. E-RECRUITMENT

Many big organizations use Internet as a source of recruitment. E-

recruitment is the use of technology to assist the recruitment process. They

advertise job vacancies through worldwide web. The job seekers send their

applications or curriculum vitae i.e. CV through e mail using the Internet.

Alternatively job seekers place their CV’s in worldwide web, which can be

drawn by prospective employees depending upon their requirements.

Advantages of recruitment are:

Low cost.

No intermediaries

Reduction in time for recruitment.

Recruitment of right type of people.

Efficiency of recruitment process.

3.6. RECRUITMENT MANAGEMENT SYSTEM

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Recruitment management system is the comprehensive tool to manage the

entire recruitment processes of an organisation. It is one of the technological

tools facilitated by the information management systems to the HR of

organisations. Just like performance management, payroll and other systems,

Recruitment management system helps to contour the recruitment processes

and effectively managing the ROI on recruitment.

The features, functions and major benefits of the recruitment management

system are explained below:

Structure and systematically organize the entire recruitment processes.

Recruitment management system facilitates faster, unbiased, accurate

and reliable processing of applications from various applications.

Helps to reduce the time-per-hire and cost-per-hire.

Recruitment management system helps to incorporate and integrate the

various links like the application system on the official website of the

company, the unsolicited applications, outsourcing recruitment, the final

decision making to the main recruitment process.

Recruitment management system maintains an automated active

database of the applicants facilitating the talent management and

increasing the efficiency of the recruitment processes.

Recruitment management system provides and a flexible, automated and

interactive interface between the online application system, the

recruitment department of the company and the job seeker.

Offers tolls and support to enhance productivity, solutions and optimizing

the recruitment processes to ensure improved ROI.

Recruitment management system helps to communicate and create

healthy relationships with the candidates through the entire recruitment

process.

The Recruitment Management System (RMS) is an innovative information

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system tool which helps to sane the time and costs of the recruiters and

improving the recruitment processes.

3.7. RECRUITMENT PROCESS AT BAJAJ ALLIANZ LIFE

INSURANCE COMPANY LTD.

The recruitment and selection is the major function of the human resource

department and recruitment process is the first step towards creating the

competitive strength and the strategic advantage for the organisations.

Recruitment process involves a systematic procedure from sourcing the

candidates to arranging and conducting the interviews and requires many

resources and time. A general recruitment process is as follows:

1. IDENTIFYING THE VACANCY

The recruitment process begins with the human resource department receiving

requisitions for recruitment from any department of the company. These contain:

Posts to be filled

Number of persons

Duties to be performed

Qualifications required

2. Preparing the job description and person specification.

3. Locating and developing the sources of required number and type of

employees

(Advertising etc).

4. Short-listing and identifying the prospective employee with required

characteristics.

5. Arranging the interviews with the selected candidates.

6. Conducting the interview and decision making.

Identify vacancy Prepare job description and person specification

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Identify vacancy

Short-listing

Prepare job description and person Specification

Arrange interviews

Advertising the vacancy

Conducting interview and decision making

Managing the response

Advertising the vacancy Managing the response Short-listing Arrange interviews Conducting interview and decision making

ADVERTISING THE VACANCY

It is the main part of the recruitment process. Through various media of

advertising the vacancy in the organization is float in the market. Then the

candidates who are eligible for the job, who are meeting the requirements of the

job description & job specification approaches towards the job by seeing those

ads. Advertisement can be done through several media such as:

Newspapers

WOM etc.

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SHORT LISTING

Short listing in Bajaj Allianz on the basis of some points:-

After receiving the application form candidates will short listed.

Candidate should be graduate. Should have the experience of working in any sales. Should be 18yrs above.

If he/she has the all requirements then he/she will be short listed for further process.

3.8. ARRANGE & CONDUCTING INTERVIEW

The Interview Process

Many job applicants misrepresent their true status,

background and experience. This is true for both upper and

lower entry employees. One survey reported by Inc. magazine

indicates the following about job applicants:

15% of all job applicants falsify academic qualifications.

10% falsely upgrade their academic qualifications.

35% claim specific achievements or experiences that are untrue.

70% indulge in puffery (upgrading the importance of achievements).

12% have some kind of criminal record, including serious automobile

convictions.

These statistics define the need of a sound recruitment process. The beginning of a powerful employer-employee

relationship begins with the hiring process. The value of placing your efforts and resources into the hiring process

cannot be overstated.

Interview Tips for Interviewers:

Make notes of the questions you intend to ask.

Decide the essential things you need to learn and prepare questions to

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probe them.

Plan the environment - privacy, no interruptions, ensure the interviewee

is looked after while they wait.

Put the interviewee at ease - it's stressful for them, so do not make it

any worse.

Begin by explaining clearly and concisely the general details of the

organization and the role.

Ask open-ended questions

Make sure the interviewee does 90% of the talking.

High pressure rarely exposes hidden issues - calm, relaxed, gentle,

clever questions do.

Probe the CV/resume/application form to clarify any unclear points.

If possible, and particular for any position above first-line, use some

form of psychometric test, or graphology, and have the results available

for the interview, so you can discuss them with the interviewee.

The Interview Process

Employers can avoid most hiring mistakes by simply spending a little more time

preparing for the interview in advance. To do a wonderful job of preparing for

interviewing and present one's company professionally the following points must

be considered:

Before the Interview

1) Determine your options - Which skills are vital as opposed to convenient.

2) If other people are going to be involved in the interview process, make sure

they have taken the time to prepare for the interview. Each person should have a

couple of overlap questions to provide insight on the prospective employee's

responses.

3) Have company information available for candidates.

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4) Allow plenty of time for the interview.

5) Have detailed information about the candidate.

During the Interview

1) Interview the person, not the skill set.

Ask questions that are, broad, open-ended, job-related, objective, meaningful,

direct, clear, understood & related.

2) Be open and honest with the candidate.

3) Tell the candidate what to expect in the hiring process.

4) Tell them your expectations: career advancement, training, duties, experience

expected, the direction the department is headed in.

5) Show the candidate where they would fit into the organization.

6) Don't talk money.

Closing the Interview

1) Insure that you and the candidate have concluded on common ground.

2) Ask if she/he has any other questions.

3) At the end of the interview, if you are interested in the candidate, let them

know.

4) Review the next steps with a clear and honest timetable (and stick to it).

5) Be friendly and honest to the end of the interview; don't give false

encouragement or go into details for rejection.

After the Interview

1) Take time to update the next person in the interview process.

2) Discuss the candidate’s reaction and interest.

3) Rate the applicant on a 1-5 scale as a potential employee.

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Arrangement of interview in bajaj allianz is done in following manner.

1. SHORT LIST THE ELIGIBLE CANDIDATE

2. INTERVIEW WITH BRANCH MANAGER

3. INTERVIEW WITH INTERVIEW WITH AREA MANAGER

4. INTERVIEW WITH H.R MANAGER

5. SELECTION & HIRE THE CANDIDATE

Some of the posts related to sales in Bajaj Allianz are:

junior sales managers

assistant sales managers

sales managers

senior sales managers

executive sales manager

mentor sales managers

There are some conditions to continue the person as a sales manager:

After selection they have 3 months to give their performance.

These three months are their promotion period.

Within these three months they have to make at least 25 agents .

Then only they will be allowed to continue with the work.

Recruitment process for Agents in Bajaj Allianz is done in following steps:

1. IDENTIFY THE VACANCY

2. SHORT LISTING

3. WRITTEN EXAM

4. ALLOW THE LICENCE

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To make the agents, sales manager can give paper adds.

Sales managers can distribute the pamplets.

They can conduct the seminar.

They can draw the attention of the people by telling the profits of becoming an agent.

If a person is ready then he/she will have to face the interview with the branch manager.

Eligibility for agents.

If the candidate is from country side then:-

1) He/she should be 18 yrs above.

2) He/she should be 10th pass.

3) If he/ she from city should be 12th pass.

4) He/she should fill the examination form of IRDA of III.

5) He/she should attend the 50hrs or 9 days training.

After all these they have to take a written exam. After this exam he/she

considered worthy of the licence and then only they are allowed to sell the

policy. To selling these policies agent gets commission with different plan.

The commission may swing from 5-40%. They get the renewal commission

on the payed renewal in coming years.

3.9. TRAINING & DEVELOPMENT

Human Resource Management (HRM), a relatively new term, that emerged

during the 1930s. Many people used to refer it before by its traditional titles, such

as Personnel Administration or Personnel Management. But now, the trend is

changing. It is now termed as Human Resource Management (HRM). Human

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Resource Management is a management function that helps an organization

select, recruit, train and develops.

HUMAN RESOURCE MANAGEMENT

Human Resource Management is defined as the people who staff and manage

organization. It comprises of the functions and principles that are applied to

retaining, training, developing, and compensating the employees in organization.

It is also applicable to non-business organizations, such as education,

healthcare, etc Human Resource Management is defined as the set of activities,

programs, and functions that are designed to maximize both organizational as

well as employee effectiveness.

Scope of HRM without a doubt is vast. All the activities of employee, from the

time of his entry into an organization until he leaves, come under the horizon of

HRM.

The divisions included in HRM are Recruitment, Payroll, Performance

Management, Training and Development, Retention, Industrial Relation, etc. Out

of all these divisions, one such important division is training and development.

TRAINING AND DEVELOPMENT

is a subsystem of an organization. It ensures that randomness is reduced and

learning or behavioral change takes place in structured format.

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3.10. SWOT ANALYSIS OF BAJAJ ALLIANZ

Strengths First entrant advantage in Raipur.

Well equipped store with latest technologies (SAP).

Discount offers through out the year.

Strong supply chain Management.

Weaknesses Market not well protected due to the local market.

Consumer awareness about the hyper market

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Poor sales promotion for private brands

Market not adequately covered

Store location

Opportunities A large market with a good potential for retailing.

Consumers can be tapped through proper education about hyper market.

A wide range of private brands in each particular segment

They can attract more consumers by proper promotion activities.

Threats Establishment of more private organized players in retail sector.

Flexible Trade Policies of Local vendors

8. BIBLIOGRAPHY

Kothari, C.R., Wishwa Prakashan, New Delhi.

Shiffman, Lion. G., and Kanuk, L. L.; Consumer Behaviour,

Pearson Education (Singapore) Pvt. Ltd., (Pg. No. 251-280).

Eighth Edition.

URLs Visited

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http://www.google.co.in for searching information on recruitment

process

http://www. bajajallianzlife.co.in for information of company

profile

http://www.google.co.in for searching history of insurance

sector

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