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    A PROJECT REPORT

    On

    Study of Talent Acquisition Process

    AT

    BAJAJ ALLIANZ LIFE INSURANCE COMPANY

    HUMAN RESOURCE

    By

    SWATI SOOD

    SINHGAD INSTITUTE OF MANAGEMENT

    S.NO.44/1, VADGAON (BK), PUNE -41

    * 2011 *

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    ACKNOWLEDGEMENT

    Any accomplishment requires the effort of many people and this work is no different. It has been my proud

    privilege to be attached withBAJAJ ALLIANZ, a highly professional Insurance company with a modern

    outlook.

    The experience I gained out of learning new things, the zeal during the project and the satisfaction of

    making this report is incomplete without mentioning a few names.

    I take this opportunity to express my deep gratitude to Mrs. Kirti Sehgal, Senior Executive HR; Miss Sonal

    Sood {HR} atBALIC Head Office,Pune for accommodating me as a project trainee. Her valuable

    guidance and support in providing information throughout the project work was unforgettable and will help

    me in my future endeavors as well.

    I would like to extend my deepest regards to the entire Talent Acquisition Team and all the managers and

    AVPs of BALIC.

    I am highly indebted to my project guide Mr. John Peter for his guidance, constant supervision an

    valuable inputs.

    Finally I thank my family, friends and co-interns at BALIC who have contributed a lot to make this project

    a success.

    Aakash Chatterjee

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    PREFACE

    In todays competitive world, people are a companys most important asset and placing the right person in

    the right position is very critical for the success of the organization.

    Recruitment represents the first contact that a company makes with the personnel having potential to b

    employed. Recruitment and selection is a multifaceted concept. Recruitment is the next step in th

    procurement function, the first being manpower planning. The HR proceeds with the identification o

    sources of recruitment and finding suitable candidates for employment. Both internal and external source

    of manpower are used depending upon the types of personnel needed.

    In this project I have encapsulated Recruitment and Selectionprocess of BAJAJ ALLIANZ LIFINSURANCE COMPANY. My involvement in this project has been challenging and has provided me

    platform to leverage my potential in the most constructive way.

    Bajaj Allianz Life Insurance Company is one of Indias leading financial institutions. It has achieved

    steady and confident growth to success in a short span of 10 years.

    This project is an honest effort aimed at understanding the process of Recruitment and Selection at Baja

    Allianz Life Insurance Company.

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    CONTENTS

    Sr. No. Description Page No.

    LIST OF TABLES

    Table No. Table Name Page No.

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    LIST OF GRAPHS/CHARTS

    Chart No. Chart Title Page No.

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    1. PROJECT PROFILE

    1.1 OBJECTIVES

    To study the

    entire process of recruitment and selection at Bajaj Allianz Life Insurance Company.

    1. To understand and analyze the various functions of the Talent Acquisition team at Bajaj Allianz.

    2. To study the various sources of recruitment followed in Bajaj Allianz.

    3. To headhunt personnel whose skill fits in the companys values.

    4. Take an overview of the recruitment challenges faced by the company.

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    5. To find out the shortcomings in the recruitment process if any.

    1.2 RESEARCH METHODOLOGY

    1.1.1 Research Methodology

    Research is a structured enquiry that utilizes acceptable scientific methodology to solve

    problems and create new knowledge that is generally applicable.

    Scientific methods consist of systematic observation, classification and interpretation of data.

    It is the science of dealing with principles of procedure in research and study

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    Research was carried out at Bajaj Allianz Life Insurance Company to find out the process of

    Recruitment and Selection.

    1.2.2 Research Design

    Research Designs are concerned with turning the research question into a testing project.

    The research design can be considered as a blueprint prepared by the researcher before the

    actual research work.

    The best design depends on the research questions. It includes:

    1. What questions to study?

    2. What data are relevant?

    3. What data to collect?

    4. How to analyze the results?

    1.2.3 Sample Size

    The sample size is an important feature of any empirical study in which the goal is to mak

    inferences about a population from a sample.

    The sample size for this research was 12 employees of the Talent Acquisition Team who ar

    directly involved in the Recruitment process.

    1.2.4 Sources of Data Collection

    The task of data collection is the actual first step in the process of carrying out the research.

    In this particular report two types of sources of data have been used :

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    1.2.4.1 Primary Data

    This type of data is collected afresh and for the first time and thus happens to b

    original in character.

    In the case of this report, ways of collecting primary data were :

    Questionnaire to Talent Acquisition Team

    Formal and Informal Interaction

    Observation

    1.2.4.2 Secondary Data

    It is the data which has been collected by individual or someone else for the purpos

    of other than those of a particular research study. Or in other words we can say tha

    secondary data is the data used previously for the analysis and the results ar

    undertaken for the next process.

    In the case of this report, ways of collecting secondary data were:

    Books & Journals

    Magazines

    Websites

    Records of the organization

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    1.3 SCOPE

    1.3 SCOPE

    The scope of the project covers the Recruitment and Selection process carried out by the Talen

    Acquisition Team of Bajaj Allianz Life Insurance Company, Head Office; Pune.

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    The project encompasses the working of the Talent Acquisition Team comprising of 1

    members including the TA Head.

    It also considers the responses from the Talent Acquisition Department members who wer

    asked to give their opinions.

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    1.4 LIMITATIONS

    1.4 LIMITATIONS

    There were some constraints during the project because of which perfection cannot be ensured

    out of total findings.

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    Limitations:

    1. Time constraint: The time period of 2 months was too short to understand the Recruitment

    and Selection of different levels of employees.

    2. Confidential information was not revealed according to the rules and conditions of the

    organization.

    3. The interaction was limited to the Talent Acquisition Team in the Head Office, Pune.

    2. INTRODUCTION

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    2. THEORETICAL BACKGROUND

    RECRUITMENT AND SELECTION:

    Human Resource is a basic need of any work to be done. According to ARTHUR LEWIS:

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    There are great differences in development between countries which seem to have roughly equal

    resources, so it is necessary to enquire into the difference in human behaviors

    After the identification of need for the number and types of personnel as indicated by human resource

    planning and the types of jobs that personnel will perform and the qualities that these personnel should

    have as indicated by job analysis, the process of undertaking such personnel should be undertaken by the

    organization.

    This acquisition involves:

    Location of these personnel

    Attracting them to offer them for selection

    Making selection of the suitable personnel who may be able to perform the assigned jobs

    effectively.

    Thus, there are two distinct activities involved in acquisition process

    Recruitment and Selection.

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

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    Human resource

    planning

    Job analysis

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    FIGURE 1: Linkage of recruitment and selection to human resource acquisition

    2.1 Concept of Recruitment

    Recruitment is the process concerned with the identification of sources from where the personnel can b

    employed and motivated to offer themselves for employment.

    Werther and Davis have defined this as follows

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    Placement

    Selection

    Recruitment

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    Recruitment is the process of finding and attracting capable applicants for employment. The proces

    begins when new recruits are sought and ends when their applications are submitted. The result is a poo

    of applicants from which new employees are selected.

    Purpose and Importance

    Recruitment represents the first contact that the company makes with the personnel having potential to b

    employed. From the point of view of the potential candidates, recruitment is the process through which they

    come to know about the company and nature of jobs that are being offered.

    Therefore, if recruitment process is carried on successfully, it serves the following purposes :

    It determines the present and future human resource requirements of the organization in conjunctio

    with human resource planning activities and job analysis activities.

    It helps to increase the pool of potential personnel and the organization has a number of options t

    choose from.

    It helps in increasing the success rate of the selection process by filtering the number of unde

    qualified or overqualified job applicants

    It helps in evaluating the effectiveness of various recruitment techniques and sources of recruitment

    It helps to meet the organizations legal and social obligations regarding composition of i

    workforce.

    2.1.1 Recruitment Policy

    Recruitment policy spells out the objectives and principles of the recruitment and provides

    framework for implementation of the recruitment programs in the form of procedures.

    Recruitment policy covers the following areas:

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    1. To prescribe whether the recruitment would be centralized or decentralized at unit levels.

    2.To prescribe the degree of emphasis that would be placed on recruiting from inside the

    organization or outside the organization and different outside sources.

    3. To provide the weightage that would be given to certain categories of people such as local

    population, schedule caste etc.

    4. To specify the degree of flexibility with regards to age, qualifications, compensation structure

    and other service conditions.

    5.To prescribe the personnel who would be involved in recruitment process and the role of HR

    department in this regard.

    6.To specify the budget for meeting the expenditures incurred in completing the recruitment

    process.

    2.1.2 Factors Affecting Recruitment

    Several factors affect the recruitment policy .These factors can be either external or internal to th

    organization.

    EXTERNAL FACTORS

    i) Nature of competition for Human Resources

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    ii) Legal factors

    iii) Socio cultural Factors

    iv) External influences

    INTERNAL FACTORS

    i) Organizational image

    ii) Recruitment policy of organization

    iii) Size of organization

    iv) Type of personnel to be recruited

    v) Past practices

    2.1.3 Recruitment Process

    This process includes recruitment planning, identification of recruitment sources, contacting thos

    sources and receiving applications from prospective employees. These applications are then passed o

    to the selection process.

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    Recruitment

    Planning

    Sources of

    Recruitment

    ContactingSources

    To SelectionProcess

    ApplicationPool

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    FIGURE 2: Recruitment Process

    2.1.4 Sources of Recruitment

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

    INTERNAL SOURCES

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    o Present Personnel (Promotions and Transfers)

    o Employee Referrals

    EXTERNAL SOURCES

    o Advertisements

    o Campus Interview

    o Management Consultants

    o Government and Private Employment Exchanges

    o Labor or Trade Unions

    o Professional Organizations

    o Casual Applicants

    o Job Fairs

    o Poaching and Raiding

    o Walk in Interviews

    o Recruiting on internet (Job Portals)

    2.2 Concept of Selection

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

    personnel who can fit the overall job requirements in the light of job description, role analysis and job

    specification.

    It can be conceptualized in terms of either choosing the fit candidates or rejecting the unfit candidates, or a

    combination of both.

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    A more formal definition of selection is as follows:

    Selection is the process of differentiating between applicants in order to identify (and hire) those with a

    greater likelihood of success in the job.

    2.2.1 Need for Scientific Selection Methods

    To reduce Margin of Errors

    To minimize cost of personnel

    To meet environmental requirements

    2.2.2 Selection Process

    A selection process involves a number of steps screening of application forms, selection tests, selection

    interviews, checking of references , Physical examination , approval by appropriate authority and handing

    over the selected candidates to orientation and placement section.

    However, it is not necessary that all these steps are involved in every selection process.

    The basic idea is to solicit maximum possible information about the candidates to ascertain their suitability

    for employment.

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    Application Pool from

    Recruitment Process

    Screening of Application

    Forms

    Selection Tests

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    FIGURE 3: Steps In Selection Process

    2.2.3 Selection Tests

    Selection tests have gained popularity in selection process because of their positive contribution to this.

    They are popularly known as psychological tests as they measure the psychological characteristics of a

    person.

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    Employment Contract

    Selection Interviews

    Final Selection

    Approval by Appropriate

    Authorit

    Physical Examination

    Checking of References

    Evaluation

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    It is essentially an objective and standardized measure of a sample of behavior.

    TYPES OF TESTS

    Ability Test

    Achievement Test

    Intelligence Test

    Aptitude Test

    Personality Test

    Thematic Apperception Test

    Mayers-Briggs Type Indicator

    Interest Test

    2.2.4 Selection Interview

    Selection interview, also known as employment interview, is a formal, in-depth conversation conducted to

    evaluate the acceptability of candidates for employment.

    Its aim is to discover those aspects of an applicant which may not be disclosed by other methods.

    Interview can be used as tool for giving information about the organization , its policies , nature of job to b

    performed , salary and other benefits to be offered etc.

    TYPES OF INTERVIEW

    ON THE BASIS OF CONTACT

    One-to-One Interview

    Panel Interview

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    ON THE BASIS OF INTERACTION PATTERN

    Structured Interview

    Unstructured Interview

    Depth Interview

    Stress Interview

    3. ORGANIZATIONAL PROFILE

    Bajaj Allianz Life Insurance Company Limited

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    Bajaj Allianz Life Insurance Company Limited is a joint venture between Allianz SE of Germany, one of

    the worlds largest Life Insurance companies and Bajaj Fincer Limited.

    BALIC came into being on 12th March 2001.

    The company received IRDA (Insurance Regulatory & Development Authority) Certificate of Registration

    on 3rd August 2001 to conduct Life Insurance Business in India.

    Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world

    managing assets worth over a Trillion Euros (Over R. 55,00,000 crores). Allianz SE has over 115 years of

    financial experience in over 70 countries. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the

    offices are interconnected with the Head Office at Pune.

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

    At Bajaj Allianz customer delight is the guiding principle.Ensuring world-class solutions by offering customized products with transparent benefits, supported by

    best technology is the business philosophy.

    Specialties

    One of the market leaders in terms of customer satisfaction and quality processing.

    Today Bajaj Allianz is one of the Indias Leading and Fastest Growing Insurance Companies. Currently it

    has presence over 550 locations with over 60,000 Insurance Consultants.

    In June 2008 Bajaj Allianz entered into partnership with Thomas Cook India to provide travel Finance.

    Bajaj Alliance Life insurance ensures excellent insurance and investment solutions, by providing

    customized Products, supported by best technology.

    NATIONAL NETWORK

    BALIC has a Pan India presence with The Corporate Office located at Pune

    8 Zonal Offices located at Delhi , Bhilwara , Kolkatta , Indore , Pune , Bangalore and Chennai

    700+ branches

    6 hubs Pune , Chandigarh , Bhilwara , Kolkata , Salem and Coimbatore

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    Over 10,000 Sales Managers

    Over 3,00,000 Insurance Consultants

    More than 10 Banc assurance partners across country

    Strong Alternate Channel with about 1900+ Franchisees , over 250 corporate agents , more than 35

    brokers , and 6 co op banks

    Over 80 Direct Marketing Branches operating nationwide.

    Vision

    To be the BEST Life Insurance Company in India

    To Buy From,

    Work For &

    Invest In

    Mission

    As a responsible, customer focused market leader, BALIC will strive to understand the insurance needs of

    the consumers and translate it into affordable products that deliver value for money.

    Culture at Bajaj Allianz

    Bajaj Allianz will be:

    A winning team

    Have passion for excellence and hate bureaucracy

    Be empowered , have the confidence to take decisions quickly and be accountable

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    Be driven to achieve results , to deliver

    Be professional and socially commited

    Be open to ideas , sharing , transparent and trusting

    Make BALIC a great place to work

    Have a sense of humor

    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.

    INTERNAL GRADING STRUCTURE

    GRADE DESCRIPTION

    L5 Department Heads

    L4

    L4 A

    Department Heads / AVPsL4 B

    L3

    L3 A

    Sr. Managers / AVPsL3 B

    L2

    L2 A

    Managers / Supervisory RolesL2 B

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    L1

    L1 A

    Executives / Customer Support ExecutivesL1 B

    TABLE 1: Internal Grading Structure of BALIC

    PRODUCTS OFFERED BY BALIC -

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

    follows.

    Unit Gain Plan

    New unit gain super

    Unit gain plus gold

    New unit gain plus

    New unit gain

    Young care

    Young care plus

    New family gain-R

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    Single premium

    Unit gain premium SP

    New unit gain SP

    Pension plans

    Annuity

    Pension guarantee

    Retirement

    Future income generator

    Swarna vishranti

    New unit gain easy pension plus RP

    New unit gain easy pension plus SP

    Future secure

    Traditional plans

    Endowment

    Invest gain

    Save care economy SP

    Life time Car

    Super saver

    Cash gain

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    Term plans

    Protector

    Term care

    New risk care

    Women insurance plans

    House wife

    Working women

    Health plan

    Care first

    Health care

    Family care first

    Children plans

    Child gain

    Non employer employee

    Credit shield

    Group term life (Non employer employee)

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    Group sureksha

    Swayam Shakti suraksha

    Group income protection

    Employer Employee

    Group term life (employer employee)

    New group gratuity care

    New group annuation care

    Group save plus

    Group term life in lieu of EDLI

    Group leave encashment scheme

    Group annuity

    Group super annuation gold

    Group gratuity gold

    Micro insurance

    Alp Nivesh Yogana

    Jana Vikas Yojana

    Saral Sureksha Yogana

    Other plans

    Family assure

    Fortune plus

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    Capital shield

    Century plus II

    HIERARCHY OF SALES DEPARTMENT

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    Head of Sales

    Regional Manager

    Zonal Manager

    Divisional Manager

    Branch Manager

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    FIGURE 5: Organizational structure

    STRUCTURE OF TALENT ACQUISITION DEPARTMENT IN BALIC

    HEAD OF DEPARTMENT

    Training & Development Operations Business HRs Performance Management

    (AVP) (AVP) (AVP) (AVP)

    Asst.Managers Asst.Managers Asst.Managers

    Deputy Manager Deputy Talent Acquisition Deputy Manager

    Manager (HEAD)

    Asst. Manager

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    Insurance Consultants

    Sales Manager

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    Sr.Executive

    Executive

    Jr.Executive

    FIGURE 4: Structure of HR Department in BALIC HO

    4. REVIEW OF LITERATURE

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    Meaning of HUMAN RESORCE MANAGEMENT

    Human Resource plays a crucial role in the development process of the modern economics. ARTHUR

    LEWIS observed

    There are great differences in development between countries which seem to have roughly equal

    resources, so it is necessary to enquire into the difference in human behaviors.

    Human resource management is the management of employees skill, knowledge abilities, talent, aptitude,

    creativity, ability etc.

    Different terms are used for denoting Human Resource Management.

    They are labor management, labor administration, labor management relationship, employee employer

    relationship, industrial relationship, human capital management, human assent management etc.

    Though these terms can be used differently , the basic nature of distinction lies in the scope or coverage

    and evolutionary stage.

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    In simple sense, human resource management means employing people, developing their resources,

    utilizing, maintaining and compensating their services in tune with the job and organizational requirements

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    Functions of HUMAN RESOURCE MANAGEMENT

    Administration:

    Strategic planning, organizational evaluation, County Board relations, policy recommendations,

    supervision of department staff

    Benefits:

    Health insurance, dental insurance, life insurance, disability insurance, retirement benefits, vacation, sick

    leave, paid holidays, section 125 plan, donor program, educational incentive, uniform allowance, and

    others.

    Compensation:

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

    Employee relations:

    Disciplinary processes, incident investigations, complaint/grievance procedures, labor-management

    relations.

    Employee services:

    Enrollment in benefits, employee discounts for recreational spots, resolution of enrollment or claim

    problems, employee newsletter. Educational assistance, employee service awards

    Fiscal:

    Staffing budgets, departmental budget, accounts payable, insurance receivables, insurance fund

    management, total package costing. Insurance receivables, insurance fund management, total package

    costing.

    Health and safety:

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

    Leaves of absence:

    State and/or Federal Family and Medical Leave rights, County approved leaves of absence, rights upon

    return to work, light duty assignments for temporary periods.

    Payroll administration:

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

    Performance appraisal:

    Employee files, litigation files, payroll records, safety records and other administrative files

    Record-keeping:

    Job posting, advertising, testing administration, employment interviews, background investigations, post-

    offer employment testing.

    Recruitment:

    Recruitment is defined as a process to discover the sources of manpower to meet the requirement of the

    staffing schedule and to employ effective measures fir meet the requirement of the staffing schedule and to

    employ to employ effective measures for attracting the manpower in adequate numbers to facilitate

    effective selection of an effective workforce.

    Selection:

    After identifying the sources of human resources, searching for prospective employees and stimulation

    helps to apply for jobs in an organization, the management has to perform the function of selecting the righ

    man at right job and at the right time.

    Separations and terminations:

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

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    Training and development:

    County-wide needs assessment, development of supervisory and management skills, employee training and

    workshops. Benefits orientations for new and transferring employees, Supervisory newsletter.

    Salary and benefits:

    Salary/wage plans, employee benefits

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    Importance of Human Resource Management -

    1: Attract highly qualified and competent people

    2: Ensure that the selected candidate stays longer with the company

    3: Make sure that there is match between cost and benefit

    4: Helps the organization to create more culturally diverse workforce

    Whereas, the poor quality of selection means extra cost on training and supervision. Furthermore, when

    recruitment fails to meet organizational needs for talent, a typical response is to raise entry level pay scales

    This can distort traditional wages and salary relationship in organization, resulting in unavoidable

    consequences. Thus the effectiveness of the recruitment process can play a major role in determining the

    resources that must be expended on other HR activates and their ultimate success.

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    5. ANALYSIS OF DATA

    Questionnaire for Talent Acquisition Team

    Q.1.Which recruitment channel does Bajaj Allianz use for recruitment process?

    a. Employee referral

    b. Campus recruitment

    c. Advertising

    d. Recruitment agencies

    e. Job portals

    f. Other, please specify

    Options Respondents

    Employee referral 2

    Campus recruitment 1

    Advertising 1

    Recruitment agencies 0

    Job portals 8

    Other 0

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

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    Through the requisitions received by the concerned departments.

    Q.3. How many stages are involved in selecting the candidate?

    a. 1

    b. 2

    c. 3

    d. 4

    e. More

    Options Respondents

    1 0

    2 0

    3 10

    4 2

    More 0

    Q.4.Potential Candidates in the Organization are generated through which of the following

    recruitment sources:

    (Tick and rank them based on the number and quality of candidates generated. Also roughly specify the

    percentage mix of each of the following sources adopted.)

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    Options Respondents Ranking

    Direct Applicants 2

    Placement Consultants 7

    Job portals 1

    Employee Referral 3

    Temporary Staffing 6

    Campus Recruitment 4

    Advertising 5

    Q.5. Are you happy with your current online recruitment channel?

    a.Yes

    b.No

    If No. Why?

    Options Respondents

    Yes 12

    No 0

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    Sr. No. Sources Ranking Percentages

    1 Direct applicants

    2 Placement Consultants

    3 Job portals

    4 Employee referral

    5 Through temporary staffing

    6 Campus recruitment

    7 Advertising

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

    Cost Time Technology Search Response Support

    Number of Respondents

    Very

    Good

    0 2 4 1 1 1

    Good 9 7 8 2 7 8

    Ok 3 3 0 9 4 3

    Bad 0 0 0 0 0 0

    Very Bad 0 0 0 0 0 0

    Performance of online recruitment on overall investment

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    Q.7.Do you think Bajaj Alliance should outsource the recruitment needs?

    a.Yes

    b.No

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    If Yes / No. Why?

    Options Respondents

    Yes 2

    No 10

    Q.8.Would you like to increase or decrease the use of onlinerecruitment channel?

    a.Yes

    b.No

    If Yes / No Why?

    Options Respondents

    Increase 8Decrease 4

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    Q.9.Do you use any of the following tests during the process of recruitment?

    a. Written

    b. Aptitude

    c. Group Discussiond. Personal Interview

    e. Psychometric test

    f. Other, please specify

    (Multiple Selection)

    Options Respondents

    Written 7

    Aptitude 10

    Group Discussion 1

    Personal interview 12Psychometric test 0

    Other 2

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    10. How do you track the source of candidate?

    a. Manual

    b. Software

    c. Online

    d. Windows. Xls

    (Multiple Selection)

    Options Respondents

    Manual 0

    Software 10

    Online 12

    Windows.Xls 1

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

    a. 10 to 20mins.

    b. 20 to 30mins.

    c. More than 30 mins.

    Options Respondents

    10 to 20 mins 0

    20 to 30 mins 2

    More than 30 mins 10

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    Q.12.Do you follow different recruitment process for different grades of employees?

    a. No

    b. Yes

    Options Respondents

    Yes 12

    No 0

    51

    12

    0

    Different Recruitment process for different

    grades of employees

    Yes

    No

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    Q.13. What is the back out percentage of candidates after being offered?

    a.1%-5%b.5%-10%

    c.10%-15%

    d. 15%-20%

    Options Respondents

    1%-5% 1

    5%-10% 6

    10%-15% 2

    15%-20% 3

    Q.14. Out of total recruitment in a year, what is the percentage of internal recruitment?

    a.0% - 5%

    b.5% - 10%

    c.10% - 15%

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    d.15% - 20%

    e.20% - 25%

    f.More than 25%

    g. Not at all

    Options Respondents

    0% - 5% 1

    5% - 10% 0

    10% - 15% 0

    15% - 20% 020% - 25% 9

    More than 25% 2

    Not at all 0

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    Q.15. Do you take any technological support for the process of recruiting?

    a. Telephone

    b. Video conferencing

    c. Online supportd. Other, pls specify

    (Multiple Selection)

    Q.16. In how much time does the whole process generate results?

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

    candidates)

    5 6 hours

    Q.17. Do you do the Employment Eligibility Verification? Yes/No

    If yes, then, what method you take up to perform it?

    a. Internally

    b. Through agencies

    54

    Options Respondents

    Telephone 12

    Video conferencing 12

    Online support 1

    Other 0

    Options Respondents

    Internally 0

    Through agencies 12

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    Q.18. What kind of verifications you do?

    a. Educational qualifications

    b. Legal background check

    c. Professional background check

    d. Reference check

    e. Family background check

    (Multiple Selection)

    Options Respondents

    Educational qualifications 12

    Legal background check 12

    Professional background check 12

    Reference check 12

    Family background check 12

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    19. What source has provided you with highest performers?

    (Both quantity wise and quality wise)

    The top sources found are

    1. Job Portals

    2.Employee Referrals

    Options Respondents

    Job Portals 7

    Employee Referrals 5

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    20. Have you outsourced any of the recruitment activities? Yes/No

    If yes, then pls specify which one?

    Options RespondentsYes 0

    No 12

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    21.What is the percentage of NO SHOWS? (Scheduled candidates not turning up for joining the job)

    a.0% - 5%

    b. 5% - 10%

    c.10% - 15%

    d.More than 15%

    e.Not at all

    Options Respondents

    0% - 5% 0

    5% - 10% 8

    10% - 15% 3

    More than 15% 1Not at all 0

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

    job)

    Response

    1. Constant communication with the candidate

    2. Transparency between the employer and proposed employee

    3. Empathetic nature

    Response Respondents

    Constant communication 10

    Transparency 1

    Empathetic nature 1

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

    Response

    1. Retaining Candidates

    2. Documentation

    3. Sourcing

    Response Respondents

    Retaining Candidates 4

    Documentation 3Sourcing 5

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    61

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    6. OBSERVATIONS & FINDINGS

    6 Observations and Findings of the Study

    6.1 Findings from Questionnare :

    After analyzing the questionnaires filled by the Talent Acquisition Team of Bajaj Allianz Head Office,

    Pune , it appears that :

    1. Bajaj Allianz uses job portals, employee referrals, campus recruitments and Advertising as channel

    for the recruitment process.

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

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

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

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

    Technology, Search, Response and support.

    6. Bajaj Allianz does not outsource their recruitment needs. The reasons being :

    Availability of talented and skilled HR recruiters who continuously map the need of all the

    departments and current market conditions.

    Reduction of costs.

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    7. The use of online recruitment channels is preferred to be increased since it increases the pool of

    applicants who can be tapped irrespective of the geographical boundaries, with minimum cost and

    less time.

    8. Source of candidates are tracked through software and online resources.

    9. Written and Aptitude tests are conducted during the process of recruitment.

    10. Generally, the average time spent by the HR department during Recruitment of each candidate is

    more than 30 minutes.

    11. Different recruitment processes are followed for different grades of employees.

    12. The back out percentage of candidates after being offered ranges between 5% to 10%.

    13.Out of the total recruitment in a year, the percentage of Internal Recruitment ranges between 20% t

    25%.

    14. Telephones and Video conferencing are mainly used for recruitment process.

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

    candidates is about 5 to 6 hours.

    16. Bajaj Allianz conducts Employment Eligibility Verification for all its employees.

    This verification is done through an external vendor and the report is got in 15 days.

    17. Type of verifications done include

    a. Educational Qualifications

    b. Legal background check

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    c. Professional background check

    d. Reference check

    e. Family background check

    18. The percentage of scheduled candidates not turning up for the job is in the range from 5% to 10 %.

    19. The methods followed to avoid NO SHOWS include :

    Constant communication with the candidate

    Empathetic nature more than behaving professionally

    Transparency between the employer and the proposed employee

    20.The challenges faced by the TA team include retaining the candidates and making them join the

    organization, sourcing and documentation.

    6.2 Behavior of candidates :

    1. Candidates were reluctant to talk at times

    2. Candidates who were contacted were not interested in insurance on many occasions

    3. Candidates who were scheduled for interviews would not turn up

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    4. Mostly freshers were willing to take up the job in this project (recruitment of sales managers)

    5. Female candidates were reluctant to attend interview because of sales profile

    6. Experienced candidates refused to attend interview as they did not find the pay package satisfactory.

    CONCLUSION

    Insurance is confronted with high attrition rate. Therefore, it makes recruitment a critical function in the

    organization.

    In order to grow and sustain in the competitive environment it is important for an organization to

    continuously develop and bring out innovations in all its activities.

    It is only when organization is recognized for its quality that it can build a stability with its customers .An

    organization must be able to stand out in the crowd.

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    The first step in this direction is to ensure competitive people come in the organization .Therefore,

    recruitment in this regard becomes an important function . The organization must constantly improvise in

    its recruitment process so that it is able to attract best in the industry in order to serve the best.

    The search or headhunt of people should be of those whose skill fits into the companys values.

    Most of the employees were satisfied but changes are required according to the changing scenario as

    recruitment process has a great impact on the working of the company and as a fresh blood enters, newideas enter in the company.

    Selection process is good but it should also be modified according to the requirements and the job profile s

    that the main objective of selecting the candidate can be achieved.

    8. RECOMMENDATIONS

    RECOMMENDATIONS

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

    delays in the hiring process should be minimized.

    Though the Background verification is very essential, it is a cause of delay sometimes and it needs

    to be modified so that these processes do not increase the cycle time.

    Create winning impression even on those who are not selected .A candidate when invited for an

    interview must be attended as soon as possible and not made to wait for hours together .Interviews

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    conducted on a the scheduled time leave a good impression on the candidate. Even if the candidate

    is not selected , a good impression will make him recommend the name to others. They should

    carry the impression that they have missed the opportunity to work in a great company.

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

    9. BIBILOGRAPHY

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    BIBLIOGRAPHY

    9.1 Books Referred:-

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    70

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    9.2 Websites:

    71

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    10. ANNEXSURES

    ANNEXURES

    Questionnaire for Recruitment Team

    PLEASE FILL FOLLOWING DETAILS:

    1.Organization Name:

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    2. Strength of the Organization (Less than 50, 50-100, More than 100):

    3. Address of the Organization:

    4. Name of the Respondent:

    5. Designation of the Respondent:

    6. Total number of people in HR department:

    7. Total number of people involved in Recruitment and Selection:

    Note Please tick the appropriate option.

    1. Which recruitment channel does Bajaj Allianz use for recruitment process?

    a. Employee referral

    b. Campus recruitment

    c. Advertising

    d. Recruitment agencies

    e. Job portals

    f. Other, pls specify

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

    3. How many stages are involved in selecting the candidate?a. 1

    b. 2

    c. 3

    d. 4

    e. More

    4. Potential Candidates in the Organization are generated through which of the following

    recruitment sources:

    (Tick and rank them based on the number and quality of candidates generated. Also roughly specify the

    percentage mix of each of the following sources adopted.)

    74

    Sr. No. Sources Ranking Percentages

    1 Direct applicants

    2 Placement Consultants

    3 Job portals

    4 Employee referral

    5 Through temporary staffing

    6 Campus recruitment

    7 Advertising

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    5. Are you happy with your current online recruitment channel?

    a.Yes

    b.No

    If No. Why?

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

    Cost Time Technology Search Response Support

    Very

    Good

    Good

    Ok

    Bad

    Very Bad

    7. Do you think Bajaj Alliance should outsource the recruitment needs?

    a. Yes

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    b. No

    If Yes / No. Why?

    8. Would you like to increase or decrease the use of online recruitment channel?

    a. Yes

    b. No

    If Yes / No Why?

    9. Do you use any of the following tests during the process of recruitment?

    a. Written

    b. Aptitude

    c. Group Discussion

    d. Personal Interview

    e. Psychometric test

    f. Other, please specify

    10. How do you track the source of candidate?

    a. Manual

    b. Software

    c. Online

    d. Windows. Xls

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

    b. 20 to 30mins.

    c. More than 30mins.

    76

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    12. Do you follow different recruitment process for different grades of employees?

    a. No

    b. Yes

    13. What is the back out percentage of candidates after being offered?

    a. 1%-5%

    b. 5%-10 %

    c.10%-15%

    d. 15%-20 %

    14. Out of total recruitment in a year, what is the percentage of internal recruitment?

    a. 0% - 5%

    b. 5% - 10%

    c. 10% - 15%

    d. 15% - 20%

    e. 20% - 25%

    f. More than 25%

    g. Not at all

    15. Do you take any technological support for the process of recruiting?

    a. Telephone

    b. Video conferencing

    c. online support

    d. Other, please specify

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    16. In how much time does the whole process generate results?

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

    candidates)

    17. Do you do the Employment Eligibility Verification? Yes/No

    If yes, then, what method you take up to perform it?

    a. Internally

    b. Through agencies

    18. What kind of verifications you do?

    a. Educational qualifications

    b. Legal background check

    c. Professional background check d. Reference check

    e. Family background check

    19. What source has provided you with highest performers?

    (Both quantity wise and quality wise)

    20. Have you outsourced any of the recruitment activities? Yes/No

    If yes, then pls specify which one?

    21. What is the percentage of NO SHOWS? (Scheduled candidates not turning up for joining the job

    a.0% - 5% b. 5% - 10%

    c.10% - 15%

    d. More than 15%

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    e. Not at all

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

    job)

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

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