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A PROJECT
REPORT
ON
EFFECTIVENESS OF RECRUITMENT PROCESS
AND
ANALYSIS OF EMPLOYESS SETTLEMENT
AT
BAJAJ ALLIANZ
SUBMITTED TO
UNIVERSITY OF
PUNE
IN PARTIAL FULFILLMENT
OF
M ASTER IN BUSINESS
ADMINISTRATION
BY
MS. PALLAVI NARENDRA
PATANKAR
M B A -II
(2004-2006)
V IS HW AKAR MA I NS TI TU TE OF
MANAGEMENT
PUNE
.
INDE
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Chapter Chapter Name Pageno.
No.
1 Executive summery 1
2 Introduction of subject33 Introduction o f Bajaj
Allianz
15
3 .1 I n t r o d u ct io n o f I n s u r a n c e , p r o d u c ts
an d
19
benefits
3.2 National Network andDistribution
22
Channel
3.3 Organization grading structure 24
3. 4 Int rodu cti on to H um anResource
26
Department
4 Introduction of objective ofproject
30
5 ResearchMethodology 32
6 A na ly si s an d In te rp re ta ti on o f Data
35
7 Ob servat ion & Fi nd in gs 63
8 Conclusion66
9 Suggestions 68
10 Annexure 71
11 Bibliography 80
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ACKNOWLEDGEMENT
It would be grateful on mypart to go ahead with this report expressing
my
gratitude to all those who have helped me in completion of myProject.
I heartilythank
BAJAJ ALLIANZ. For giving mean opportunity to carry out
my summer project in well esteemed and diversifiedorganization.
Iowe a debt of gratitude to Shri D.R. Kurane (HEAD HR) and Mrs.Sanjot
Bhole (SR.Excetive) HR in head officepune.
I am also thankful to the entire staff of HRDCentre, for the wonderful
work
environment and all those whose guidance and encouragement helped alot in
the completion of my summerproject.
I am also thankful to our director, Dr. Sharad Joshi and myproject guideDr.
Vandana Gote and Prof. Gandhe for helping me in completing theproject.
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CERTIFICATE
This is to certify that Ms. Pallavi N Patankar is bonafide student of ourinstitute.
She has successfully carried out her Summer Project titledEffectiveness of
Recruitment Process and Analysis of Employees Settlement At BajajAllianz,
Pune.
This is the original study of Ms. Pallavi N Patankar, and an importantsource
used by her has been acknowledged in her report. The report is submittedinthe
partial fulfillment of two-year full time course of Master in BusinessAdministration
(2004-2006) asper rules ofthe Pune University.
Dr. Sharad L. Joshi Dr. Mrs. VandanaGote
(Director) (ProjectGuide)
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EXCECUTIVE SUMMARY
Bajaj Allianz Life Insurance Co.Ltd and Bajaj Allianz General Insurance isvery
well known Insurance Co in Pune & in India also with its largest insurerin the
world had joined hands with famous Bajaj Auto one of the trusted name in
automobiles and house industry in India. This project is titled asEffectiveness of
Recruitment process and Analysis of Employees settlement in Baja AllianzLife
Insurance & tries to find out the different aspects of Recruitment
process and
settlement analysis incompany.
Different officials working in the HR department have provided veryimportant
data in this respect. Formal and Informal interviews as well as theresearch
(through questionnaire) are the basic methods of data collection usedin this
project work. Also secondary data provided by the company officials isof
immense importance. Every effort has beenmade to understand the longterm
plans of company for implementing Recruitment process andEmployees
settlement.
As the Insurance Co is a service industry; the employees serving in thecompany
are the most important elements and that is why recruitment processbecomes
very important in the long run. The settlement analysis also gives thecompany
the final version of Exit process. Taking into consideration this aspect,the
effectiveness of recruitment program and analysis of employ ee ssettlement.
recently being carried out is beenobserved.
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From this project work; company officials will get new insights aboutRecruitment
process and Full and Final settlement of employee s analysis. I have
also
acquired the knowledge of how the Recruitment process and Full and
Final
settlement of employees is carried in Bajaj Allianz Life Insurance HeadOffice
Pune.
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INTRODUCTION
OF
SUBJECT
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INTRODUCTION TO SUBJECT2
Any organization whether business or otherwise requires number ofresource
for its effective and efficient resources and out ofvar ious resources usedthe
Human Resource constitute to be most important resource.
Hence the
selection of the human resource meeting the objective the organization isone
of the impor tantprocesses.
In these processes the various term related to HRMare outlined asunder:
1. RecruitmentProcess.
2. Full and Final settlement of theemployees.
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RECRUITMENT
RECRUITMEN
T
:
The term recruitment is an inseparable process in the world ofglobalization.
Today it has been a linking activity brining together those with job andthose
seeking job. The recruitment process attracts potential employees tothe
organization. The smooth recruitment process can be carried out bypersonnel
department or HR head in the organization. The recruitment process startsfirst
w it h m an po we r planning.
MANPOWER PLANANDREQUISITION:
Every position to be recruited shall be on the basis of an approvedManpower
budget, which shall be sanctioned by the CEO of thecompany.
Recruited against budgeted position will be required to be raisedby the
Department manager using the Manpower Requis ition Form, themanpower
requisition form has to be approved by the functional head and CEOof the
Company in consultation withHead
HR. The approved manpowerrequisition
form shall form the basis for the commencement of the recruitmentprocess.
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Definitio
n:
Recruitment defined by Flippo as a process of searching for
prospective
employees and stimulating them to apply for job in the
organization .
As per Yoder a process to discover the sources of manpower to meetthe
requirement of staffing schedule and to employ effective measure forattracting
that manpower in adequate number to facilitate effective selection of anefficient
working force , thus the purpose of recruitment is to locate sources ofmanpower
to meet job requirement and jobspecifications.
OBJECTIVE:
The objective of recruitment process helps the organization to identifywhether
the selected employee working capabilities are satisfying the companiestargets.
FACTOR AFFECTINGRECRUITMENT:
1. Thesizeof organization
2. The employment conditions in the community where the
organization is
located.
3. The effect of past recruiting efforts which shows the organizationability to
locate and keep good performingpeople.
4. The working condition, salary and benefits package offered bythe
organization.
5. Therate ofgrowth oforganization.
6. The level of seasonality of operation and future expansion andproduction
programmes and the culture, economic and legal factors,etc.
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DIFFERENCEBETWEEN RECRUITMENTANDSELECTION
Recruitment is the process of searching for prospective employees
and
stimulating them to apply for job in the organization. It s often termpositive in
that its objective is to increase the selection ratio, that is, thenumberof
applicant per job opening. Maintains that hiring through selection.Selection is
a process to eliminate applicants, leaving only the best to be placedin the
organization.
SOURCES OF RECRUITMENT:
When organization is needed to fill a vacant organizational position,the
individual may come from inside or outside the organization. There aretwo
source of recruitment asfollows:
1. Internal sources
2. External sources.
The Internalsource
of recruitment means promotion of worker
or
employee from lower level to higher level. The recruitment processis
carried within the organization. Mostly this process is used to fillvacancies
of middle and top levelpersonnel.
The Externalsource
of recruitment is used to fill vacancies at lowestlevel
or at the time of expansion of the organization of the firm or wherejob
specification cannot meet by present employees. The commonly
used
outside sources are as follows:
1. Contact through presentemployees.
2. Formeremployees.
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3.Intermediaries.
4. Recruitment at
gate.
5 . Unsolicited
Application.
6.Advertisement.
7. School, College, University and TechnicalInstitution.
8. EmploymentExchange.
9. Private Agencies.
10. Professional Bodies.
11. Personnel Consultant.
1 2. P ar t t im eemployee.
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RECRUITMENT PROCESS:
Manpower Plan
Position Description
ManpowerRequisition
BlankApplication
Preliminary Interview
Application Form
Personal Test: a) Intelligencetest.
b) Aptitudetest
c)Personality test.
Employment Interview.
Selection
MedicalExamination
Appointmentletter
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SELECTION PROCESS:
The selection process is essentially a series of method of securingpertinent
information about the applicant. At each stage, facts maycometo light andmore
is learned about the applicant. The information obtained can becompared with
the job specification, the standard of personnel. If the applicantqualifies, he
advances to the next step; otherwise he is rejected. Thus, the jobspecification
and the job applicant are present at each step in the selection procedure.Each
step constitutes the means by which the applicant s Qualificationcan be
compared with the minim requirem ent established in the jobspecification. The
procedure may be compared to a series of successive hurdles or barrierswhich
an applicant must cross. These are intended as screens, and they aredesigned
to eliminate an unqualified applicant at any point in theprocess.
Definitio
n:
Having identified the potential applicant, the next s tep is toevaluate their
experience and qualification and m ake a selection. It refers to theprocess of
offering job to one or more applicant from the application. Great attentionhas to
be paid to selection because it means establishing the best fitbetween Job
requirements on the one hand, and the candidate Qualification on the
other.
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INTRODUCTION TO SUBJECT
An organization is a combination of individual and groups. Peoplein the
organization work; perform with facilities necessary for its execution, thatthe
duties performed provide the best channels for efficient, systematic,
positive and
co-ordinate application of availableeffort.
But in an organization there are various problems like languages, socio-political,
cultural background, lack of professional skill, miscommunication,and
technology, no promotion, personal problems etc, which arises problemof
Separatio
nt o e mp lo ye es f ro m a norganization.
SEPARATIO
N:
Normally the company is interested in maintaining manpower andnourishing
them. There are certain situation employee s leaves organizations due tovarious
reasons as specifiedabove.
The company wants to settle there dues and whatever are due toemployees
they should takeit.
The settlement of dues is knownas
Full and Final Settlement of
employees.
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FULL AND FINAL SETTLEMENT OF EMPLOYESS.
WHAT IT
MEAN:
The term Full and Final Settlement of employees means when anemployees
leaves ser vice of a particular organization and company wants to settle allthere
Duesand take all those monetary benefits which he has not received andsome
are received while leaving the organization only and the employee wants tosettle
thatFinally.
When an employee submits resignation letter, or is terminated, orhas
abandoned his services voluntary. The Full and Final settlementdues are
calculated by HR person in the organization. The HR person finallyprepares a
statement of Full and Final settlement ofemployees.
This process of calculation of amount payable and amount recoverable iscalled
Full and Final Settlement ofemployees.
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PROCESS OF FULL AND FINAL SETTLEMENT
IN
BAJA
J
ALLIAN
Z.
In Bajaj Allianz the Full and Final settlement of the employees whohas left
service there Full and Final statement is prepared byauthorized executiveinHR
department. The Full and Final statement is prepared by Head officeauthorized
executive in HR department only. The settlement is done as perfollowing
procedure.
In Bajaj present scenario of settlement is asfollows:
The form of settlement i.e. Exit report is divided in 2parts
In first part Head of department / Branchhead
fill s the form of employeegiving
informationlike:
Name of employee. Code, Designation, Branch, Type of exit, Notice payto
be recovered or not, last date attended, performance rating, and hard copyof
resigned letter etc. and forward to H Rexecutive in Head Office for furtheraction
through proper channel.
In second
part consists of Head office clearancelike:
1 st a) Salesadministration
clearancewhether bonuspaid or recovery.
b)If any other recovery.
2 a) Finance
clearance
whether any amount to be recovered like
travel
nd
advance, housing loanetc.
3 HR
clearance
a) Calculate EL and variable pay and ensure it is given ornot.
rd
b) To verify all other department has given clearance ornot.
c) To see Annual salary statement and verify other allowance likemedical,
telephone, etc are given or not.
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d) Tosee Annual salary statement andverify deduction has been done ornot.
Deduction like provident fund, professional tax, parivartan.
Etc
d) TOverify whether salary for lastmonth is given or not.
e) To deduct if Advance salary isgiven.
f) Finally do the processing as per rules of Income Taxlike:
a) Deduction under u/s16.
b) Deduction underchapterVI-A
c) Tax on Totalincome.
g) After the above process verified prepare a statement of Full and
Final
settlement with the details of employee who left the service and prepareEarning
and Deduction head and calculate the dues of the leftemployee.
h) Finally give letter of clearance and Issues cheque tothe
Employee.
All the 55 branches of Bajaj Allianz has to submit the Exit report to HEADoffice
with detailed information specified as above as there is centralizedprocess.
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INTRODUCTION
OF
BAJAJ ALLIANZ
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3 B aj aj Al lian z L if e I ns uran ce Co .L td
Bajaj Allianz Life insurance Company Limited is a joint venturebetween
Allian
z
AG of Germany
and
B aj aj A ut o
Limited
.
Characterized by global presence with a local focus and driven bycustomer
Orientation to established high earning potential a financial strength, BajajAllianz
Life Insurance Company was incorporated on12
th March2001.
The company received the Insurance Regulatory and DevelopmentAuthority
(IRDA ) Certificate of Registration(
R3) NO116 on3
rd August2001
to conduct
Life Insurance business inIndia.
Allianz AG one of the largest insurer in the world had joined hands withBajaj
Auto one of the highly trusted name in the automobiles and householdindustry in
India for a joint venture for their insuranceoperation and is one of thefew
Companies which is engaged in both Life and Non life InsuranceCompany
banner Allianz Bajaj Life Insurance Company Limited and Bajaj AllianzGeneral
Insurance Company Limited. The Investment ratio between Bajaj andAllianz is
26:74.
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CORE VALUE OF BAJAJ ALLIANZ LIFE INSURANCE
AND WHAT IT STANDS FOR
Co re v a lue o f Ba ja jAllianz
Understanding the customer sneeds.
Meeting the customer srequirement.
Ensuring optimal performance at lowest
cost.
C om mi tm en t t oexcellence.
What Bajaj Allianz Stands
For
Dynamic and successfulorganization.
A soc ially valuedenterprise.
Businessintegrity.
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VISION AND MISSION
Bajaj Allianz Life Insurance Co.Ltd
Shared
Vision:
To be the best Life Insurance Company in India to buy from, work forinvest in.
Shared
Mission:
1. To be in the top 3 new Life Insurance company in India by newbusiness andinforce business by2006.
2. To have PAN Indiapresence.
3. To provide highest: quality service byensuring :
oHighest customer retention in industry (90% first
year)
oEvery customer will be contacted by us at least onceper
year.
oWe respond to customer/ agent within 48hours
oEmbrace technology to optimizeefficiencies.
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INTRODUCTION
OF
INSURANCE , PRODUCT AND
BENIFITS
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3.1 INSURANCE
INTRODUCTION TO INSURANCE :
Insurance is an instrument, which protect the financial loss arising outofan
uncertain event contingent to human beings and is mechanism toshare the
financial loss of an individual or group of people due to an unforeseenevent
between the individual or group of people who are exposed to the samekind
ofrisk.
PRODUCT :
Bajaj Life Insurance Company Limited offers the product asfollows:
1. InvestGain
2. Cashgain
3. LifetimeGain
4. ChildCare
5. Risk Care
6. TermCare
7. SaveCare EconomySingle Premium
8. SwaranaVishranti
9. UnitGain
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BENEFITS:
1. Insurance protection to dependent, Thrift saving, taxBenefits.
2. A husband, for instance, may buyan insurance policyto ensure his wifeand
children are taken care of should anything happen tohim.
3. Parents buy insurance for the future saving of their childreneducation and
social obligation.
4. Motor Insurance ensures the money backto
CUREURCAR .
5. Protects the financial loss of household articles by theft or naturalcalamities.
6. Protects the financial loss ofbuildings and other valuablesbyfire.
7. protects against medical bill for hospitalization due to unexpecteddiseases or
accident
8.Accidental
Insurance with hospital benefits eases with bill ofmedical
expenses.
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INTRODUCTION
OF
NATIONAL NETWORK
AND
DISTRIBUTION CHANNELS
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3.2 NATIONAL NETWORK
Bajaj Allianz Life Insurance Co.Ltd is a large and diversifiedorganization.
Bajaj Allianz Life Insurance Cohas a national network. Bajaj Allianz has55
branches all over India. The Head Office is located inPUNE.
DISTRIBUTION CHANNELS
The Distribution Channels of Bajaj Allianz is done all over India. TheChannels is
the vital process of the company. The Channels Description is asfollows:
Channel Description
Individual Channel IndividualAgencies
Corporate Agency Channel Through corporates,large
partnerships/privatelimited
companies
Bancassurance ThroughBanks
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INTRODUCTION
TO
ORGANISATION GRADING STRUCTURE
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3.3 GRADING STRUCTURE
Bajaj Allianz Life Insurance Co.Ltd
Theinternal grading structure in the organization isdone byManagement &
HR
head. This grading system is followed by all 55 branches of Baja Allianz
and
Head office also. The grading system consists offollowing:
Description
Level
Department heads leadership roleL5
Department heads/ regionalheads/
L4
saleshead
Managers/ functional heads L3A
B
Assistant Manager supervisory role L2 A
B
Support staff L1
A
B
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INTRODUCTION
TO
HIUMAN RESOURCES DEPARTMENT
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3.4 HUMAN RESOURCE DEPARTMENT IN
BAJAJ ALLIANZ.
Policies:
InMultinational Companylike Alliaz Bajaj HRplanning and policiesplays
amajor role in the growth ofthe organization.
HR planning foreseen the man power requirement. The need like food,sanitation
is the basic function of the HRplanning.
Motivation is the inseparable part of Allianz Bajaj`s HR policies, Cricket
match
between Allianz Bajaj recently proved thetruth.
The HRdepartment should update the manual of the company. As thesemanual
contains Govt made rules and regulation. The management can alsomake
changes in the manual. The manual contains the rules & policies of thecompany.
The manual is the internal document of thecompany.
The other policies for HR department are that the company shall haveManpower
planning for one-year period, based on the business plan for the year.
There
shall be no recruitment outside the manpower plan without prior approval ofhead
HR and CEO.There is Joining Formalities , Internal grading structure,salary
processing form alities, service condition, Additional HR policies, policiesfor
Resignation/Termination. Apart from the work the individual view istaken into
consideration. Any problem in the organization to an of their teammember
personal consul ling is done & tries to satisfy their need i.e.
(sociological &
psychological needs). In this organization all decision are taken by Headoffice
HR for all 55 branches. Even they take decision regarding Day to Dayactivity.
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The ultimate objective of the co. is in the growth of organization. If
policies
are not made and implemented and proper care is not taken of human
assets i.e.
employees than there is no progress to the employees and organization.
So
policies are important as well their employees who are key per son whofollows
policies.
Objectives:
The Human Resource objective consists of thefollowing:
1. Manpower
planning.
2. Recruitment andselection.
3 . EmployeeDevelopment.
4. PerformanceAppraisal.
5. Developbelongingness for work.
6. Excellence performance award everymonth.
7. To build organization with integration, honesty & Quality ofwork.
8. Planning future goals for career
development.
9. Teamwork & cooperation with people in theorganization.
10. To provide security for work.
11. Promotion.
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STRUCTUREOFHUMANRESOURCEDEPARTMENT
Head-HRL4
B
National Asst. Mgr- HR Dy.Mgr Hr
Mgr.Corporate L2B L2B
Hfgkfg
Jr.Exce-HRJr Exce-Hr Sr.Exce-HR Sr.Exce-HR Mgt.Trainee
L1BL1B L1A L1A
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INTRODUCTION
OF
OBJETIVE OF PROJECT
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4 OBJECTIVES OF THE PROJECT
Every project report is carried out with some specific OBJECTIVE inthe
mind. Objective is basically the purpose behind conducting a project andunless
the objective is certain or specifically defined it is not understood whatdata has
to be collected. Objectives of the pr oject are nothing but what is to belearned
out of this project report.
Specific objectives of this ProjectReport
Tounderstand:
1. Understand various HR tools used in handlingRecruitment?
2 To have exposure to recruitmentprocess?
3 To have exposure to employees dues settlementprocess?
4 Whether the recruitment process and settlementprocess are
satisfactory?
5 Tounderstand howeffective the computer system or newtechnology isin
the recruitment system& settlementprocess?
So in this project report I have made every effort to understand theabove
specified objectives keeping in mind the present scenario of the
RecruitmentandFull and Final Settlement of employee s process and collectdata.
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Research Methodology
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5 Research Methodology.
Research Methodology is a systematic method of discovering new factsor
verifying old facts, their sequenc e, inter-relationship, casual explanationandthe
natural laws which governsthem.
Research Methodology explained by Redman and Mory are asfollows
systematized effort to gain newknowledge
Research Methodology is original contribution to the existing stock ofknowledge
making for its advancement. It is the purist of truth with the helpof study.
Observation, comparison and experiment. In short also covers thesystematic
method of finding solution to a problem is research. It also covers thesystematic
approach concerning generalization and the formulation of the theory.Different
stages involved in research consists of enacting the problem,formulating a
hypothesis, collecting the facts or data, analyzing the facts and reachingcertain
conclusion either in the form of solution towards the concerned problemor in
generalization for some theoreticalformulation.
In Research Methodology mainly Data plays an importantrole.
The Data is divided in two
parts:a) Primary Data.
b) Secondary Data.
Primary Data is the data, which is collected directly by direct personalinterview,
interview, indirect oral investigation, Information received through localagents,
drafting a schedule, drafting aquestionnaire.
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Secondary
Data
is the data, which is collected from the various
books,
magazine and material, reports, etc. The data which is stored in the
organization
and provide by the HR people are also secondary data. The variousinformation
is taken out regarding that subject as well other subject from various sourcesand
stored.
The last years data stored can also be secondary data. This data is keptfor the
internal use of the organization. The HR manual is for the internal useof the
organization they are secondary data which help people to gain
information.
In this report the data plays a very crucial role. For this report the datawas
provided to me by HR department and other departm ental headin the
organization.
The Primary and Secondary
data which is specified above was providedby:
a) Assistant Manager HR-Recruitment
b) Junior Executive HR- Full andFinal.
c) Other department
head.
Due to discussion with these people lot data as well latest information wasknown
by these people which was very beneficial and was primary data to me.The
questionnaires the primary data was the main key which helpto analysisdata.
This is the Research Methodology used in the project. The primaryand
secondary data method has been used in this project. Unless the
data is
collected no project can be complete. So both these data is very importantinthe
project.
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ANALYSIS AND INTERPRETATION OF
DATA
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6 ANALYSIS AND INTERPRETATION OF DATA
Since Recruitment and Full and Final system is important activityin any
organization. The emphasis was lead on findings of views of variousemployees
about the Recruitment process and Full and Final settlement followed inBajaj
Allianz.
Because in origination there are written and unwritten processrelated to
Recruitment and Full and Final Settlement of Employees on whichemployees
view are important as a good policy ofHRM.
Accordingly, the survey which was carried out was an eye opener anddetails
analyses of my survey are explained in forth comingPara.
A Research was conducted in Head office Pune of various departmentsincluding
HRdepartment.
Sample sizes of 10 people were taken for effectiveness ofRecruitment.
Sample sizes of 10 people were taken for Full and FinalSettlement
Data was collected on the basis of Questionnaire and Informaldiscussion.
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ANALYSIS AND INTERPRETATION OF DATA
E ff ec ti ve ne ss o f Recruitment.
Q.1. Are you satisfied with Recruitment system in BajajAllianz?
a) Not at all b)satisfied c) TotallySatisfied d) TotallyGood
e) Excellent.
Options b d eTotal
Response 3 3 410
% 30 30 40 100
50
40
30
20
10
0
a b c de
Response
Response Percentage
Interpretatio
n:
From the above response it is seen that most of the employ ees areoverall
satisfied by the recruitment system in the company. They have clarityof the
process.
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Q.2. Whether the Recruitment process is
documented?
a) Yes b)
No
Option a bTotal
Response 6 4 10
% 60 40 100
70
60
50
40
30
20
10
0
a b
response
response%
Interpretatio
n:
From the above response it is seen that majority of the employees feelthat
Recruitment process is documented in the company. However they can
access
when ever they want. 40%of the peopledon t have knowledge aboutit.
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Q.3. Whether the Recruitment process is documented if YES
than the
substances level of its knowledge to others
is:
a) Clear b)Vague.
Option a bTotal
Response 4 26
6633
% 100
70
60
50
40
30
20
10
0
ab
response
response %
Interpretatio
n:
From the above response it is seen that 66% employees are having only
clear
and under stable knowledge of the documented process of therecruitment. The
other employees are finding itvague.
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Q.4. Whether the Recruitment system is transparent at all
level?
a) Not at all b)To someextent c) To great
extent.
Option a b cTotal
Response 2 6 2 10
% 2060 20 100
70
60
50
40
30
20
10
0
ab c
response
response%
Interpretation:
From the above response it is seen t hat employees of t he company hassome
doubts about the transparency of the Recruitment system. The companyshould
investigatefurther.
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Q.5. Is the Recruitment process uniform at all
level?
a) Yes b) No c) varies as per
department.
Option a cTotal
Response 3 7 10
% 30 70 100
80
70
60
50
40
30
20
10
0
ab c
Response
Response Percentage
Interpretation:
From the above responses it is seen that recruitment process varies many ofthe
times from department to department so it helps the department headstoselect
the right person for the job as per his requirement andneeds.
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Q.6. Whether the other department head is constitutes in the interview
ofthe
recruitment
process?
a) Totally linked b) partially linked c)Notat all.
Options a b cTotal
Response 3 4 310
% 30 40 30 100
50
40
30
20
10
0
ab c
response
respons e%
Interpretatio
n:
From the above responses it is seen that only few department head sare
considered during the interview process and majority of the time they are
partially
linked i.e. they only have to set paper and decided thepackage.
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Q.7. Whether the response of HRdep artment or person on vacancyis?
a) Not slow b) slow c) Quick d) Very responsive e)
Excellent.
Options b c eTotal
Response 3 5 2 10
% 30 50 20100
60
50
40
30
20
10
0
a b c de
Response
Response Percentage
Interpretatio
n:
From the aboveresponse it isseen that more than 50%the employee fellsthat
the response is quick. But in few cases it isslow.
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Q.8. Whether the written test design gives real advantage or
satisfaction?
a) Not at all b) satisfaction c) Total Satisfaction d) Totally
good
e) Excellent.
Option a cTotal
Response 8 2 10
% 80 20 100
100
80
60
40
20
0
a b c de
Response
Response Percentage
Interpretatio
n:
From the above response it is seen that majority of the employeesfind the
written test are not at all beneficial or advantage as it is time consuming.Only
few agree to the testdesign.
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Q.9. Whether the duration of the writtenis?
a) Tooshort b)Not long c) Long d) Toolong.
Options a c dTotal
Response 1 4 5 10
% 10 40 50100
60
50
40
30
20
10
0
a b cd
Response
Response Percentage
Interpretatio
n:
From the above response it is seen that many times the duration of the
test is
long and the employees find it time consuming. The instant like Insurancetest for
junior and new entry finds it long and timeconsuming.
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Q.10. How is the test evaluation of the recruitment
process?
a) Fair b) Justified c) Not
justified.
Option a bTotal
Response 2 8 10
% 20 80 100
100
80
60
40
20
0
a bc
Response
Response Percentage
Interpretation:
From the above response it is seen that the test evaluation is not doneproperly.
There is bias is opinion while evaluating thepaper.
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Q.11. what is the criteria of selection in Bajaj Allianz of the requirement
process if
Knowledge considered rate in
percentage.
a) 20-30% b)31-50% c)51-70% d) 71-80% e) 81-100%
Options b c dTotal
Response 2 5 3 10
% 20 50 30 100
60
50
40
30
20
10
0
a b c de
Response
Response Percentage
Interpretatio
n:
From the aboveresponse it is seen that 51-71%weight is given on knowledge.
If
the criteria is only knowledge for
selection.
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Q.12. what is the criteria of selection in Bajaj Allianz of the requirement
process if
Knowledge + Experience considered rated in
percentage.
a) 20-30% b)31-50% c)51-70% d) 71-80% e) 81-100%
Option d eTotal
Response 7 3 10
% 70 30 100
80
70
60
50
40
30
20
10
0
a b c de
Response
Respo nse Perc entage
Interpretation:
From the above response it is seen that if Knowledge + Experienceconsidered.
Than majority of the employee gives weight on 71-80%.
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Q.13. what is the criteria of selection in Bajaj Allianz of the requirement
process if
Experience considered rated in
percentage.
a) 20-30% b)31-50% c)51-70% d) 71-80% e) 81-100%
Options b c dTotal
Response 3 6 1 10
% 30 60 10 100
70
60
50
40
30
20
10
0
a b c de
Response
Response P erc entage
Interpretatio
n:
From the above response it is seen that if Experience considered. Thanmajority
of the people have rated in between 70% as experience is relevantcriteria and
other 30% case experience is not given importance i.e. experience ismajor
criteria.
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Q.14. Whether the middle level i.e. executive is aware of the
recruitment
Process?
a) Not at all b) To some extent c) Thoroughlyknown
Options a b cTotal
Response 4 3 310
% 40 30 30 100
50
40
30
20
10
0
ab c
response
response%
Interpretatio
n:
From the above response it is seen that information of standardRecruitment
process is not communicated to middle levelexecutive.
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Q.15. The major Man power source in Bajaj Allianz of recruitment process
is?
a) Newspaper b) Internal recruitment c) Campus interview d)
Firm or
Agencies oncontract basis.
Option a b c dTotal
Response 1 3 2 4 10
% 10 30 20 40 100
50
40
30
20
10
0
a b cd
Response
respons e%
Interpretation:
From the above response it is seen that majority of the employees areemployed
from the agencies and later from the internal process. The leastpreference is
given to the campus andnewspaper.
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Q.16. Which is the most powerful method of the interviewing the
candidate and
selecting the candidate in Bajaj
Allianz?
a) Telephonic Interview b) Personal interview c) Video conferenceinterview.
Options a b cTotal
Response 3 4 310
% 30 40 30 100
50
40
30
20
10
0
a b c
Response
response%
Interpretatio
n:
From the above response it is seen that the most powerful method ofselection is
personal interview and than telephonic interview and video conferenceinterview
beneficial in case of longdistance.
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Q.17. Whether the selection in Bajaj Allianz is done on the basis of themerit?
a) Yes b) No c)Can t
say
Options a b cTotal
Response 6 1 3 10
% 60 10 30 100
70
60
50
40
30
20
10
0
a b c
Response
response%
Interpretatio
n:
From the aboveresponse it is clear that majority of the selection are basedon
merit.
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ANALYSIS & INTERPRETATION OF DATA
F ul l a nd F in alSettlement
Q.1. How is Full and Final Settlement System in BajajAllianz?
a) Poor b)Average c)Satisfactory d) Good e) Excellent
Options b c dTotal
Response 2 6 2 10
% 2060 20 100
70
60
50
40
30
20
10
0
a b c de
Response
Response Percentage
Interpretatio
n:
From the above response it is seen that many left employees aresatisfactory
about the Full and Final system in Bajaj Allianz. Few people it average andgood.
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Q.2. The content of Full and Final settlement is uniform at all
level?
a) Yes b) No c) Various as per Grades or Position in the
company.
Option a cTotal
Response 7 3 10
% 70 30 100
80
70
60
50
40
30
20
10
0
a bc
Response
Response Percentage
Interpretation:
From the above response it is seen that Full and Final system content isuniform
most of the time. But in some cases it differs due to higher gradesin the
company.
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Q.3. The duration taken for the Full and Final Clarence
system is?
a) 1-2days b)3-5 days c) 5-7days d) 7-15
days
e) Morethan 15 days.
Options c d eTotal
Response 4 2 4 10
% 40 20 40 100
50
40
30
20
10
0
a b c de
Response
Response P ercentage
Interpretatio
n:
From the above response it is seen that Full and Final process takestime to
complete the settlement. Many times it takes 3-5 and 7-15 days tocomplete it.
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Q.4. The process ofthe Full and Final settlement
is?
a) Small process b) Lengthy process c) Time consumingprocess.
Options a b cTotal
Response 3 5 2 10
% 30 50 20100
60
50
40
30
20
10
0
a b c
Response
response%
Interpretatio
n:From the above response it is seen that many left employee find processlengthy
i.e. 50%. The rest of the employee fined it time consuming and 30% findit small
process.
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Q.5. How is the dispatch system of document from all over India
branches to
Head office of HR department for the process and calculation of the
Full and
Final settlementare?
a) Poor b)Average c)Satisfactory d) Good e) Excellent
Options b c dTotal
Response 5 3 2 10
% 5030 20 100
60
50
40
30
20
10
0
a b c de
Response
Response Percentage
Interpretatio
n:
From the aboveresponse it isseen that dispatched ofthe documents tohead
office is average. Most of the employees are not satisfied with thedispatched
s ys te m i s n otsatisfied.
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Q.6. The data provided to Head office HR department from other
Branches are
always correct for Fulland Final process?
a) Yes b)No
Option a bTotal
Response 6 4 10
% 60 40 100
70
60
50
40
30
20
10
0
ab
Response
response%
Interpretatio
n:
From the aboveresponse it isseen that manytimes the data provide toHR
department are write. Only in certain cases it is incorrect due to
technical
problem and due to clericalwork.
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Q.7. How is the process of giving clearance by sales admin and
finance
department after documents reaching and verified by HR
department?
a) Small process b) Lengthy process c) Time consumingprocess.
Option b cTotal
Response 3 7 10
% 30 70 100
80
70
60
50
40
30
20
10
0
ab c
Response
Response Percentage
Interpretatio
n:
From the above response it is seen that most of the time the leftemployees find
the process time consuming. Though some find itlengthy.
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Q.8. The calculations and amount of the Full and Final settlement in Bajaj
Allianz
done byHR ofhead office after getting clearance from 2departmentare?
a) Always right b)Sometimesperfect c)Not at allright.
Option a bTotal
Response 8 2 10
% 80 20 100
100
80
60
40
20
0
ab c
Response
Respons e Percentage
Interpretatio
n:
From the above response it is seen that the calculation of the Full andFinal
settlement is always right. The left employees are satisfied about thecalculation
and the amount received tothem.
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Q.9. After the Clearance is over the Cheque issued in the name of
the left
employees are received in how many
days?
a) 1-2 days b) 3-5 days c) 5-7 days d) 7-15days
Option a b cTotal
Response 3 5 2 10
% 30 50 20100
60
50
40
30
20
10
0
a b cd
Response
Response Percentage
Interpretatio
n:
From the above response it is seen that it takes maximum 3-5 days for a
cheque
to reach a Left employee place. The some employees are satisfied aboutcheque
process receiving and some employees are notsatisfied.
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OBSERVATIONS AND FINDINGS
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7 OBSERVATION AND FINDINGS
Bajaj Allianz Life Insurance Co.Ltd and Bajaj Allianz General Insurance isleading
Company in the marker today. The HR department is having very strongbase
and while doing project in the company the observation and findings foundbyme
are as follows.
1) The company has clarity of the recruitment process and they aredoing
well and recruiting correctcandidates.
2) The recruitment process is centralized in thecompany.
3) The test duration for the senior level officer and fresher is toolong.
Though is beneficial but timeconsuming.
4) The tests provided are online test and the evaluation of the testis also
done by the Head officeHR.
5) The evaluation takes time as they take print out of test paper andgives
marks.
6) The department head are not considered most of the timeduring the
interview. The role of the head was to inform about vacancy toHR.
7) Most of the time the criteria of selection are on the basis of theKnowledge
+ Experience. This is good for thecompany.
8) The companyprovides a good basis for the FRESHER. Which is
apositive side for the both theconcern.
9) The middle level employees of the Head office and the otherbranches are
not aware of the recruitmentprocess.
10) The personal interview is more beneficial than other method ofthe
interview.
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11) The company concentrates more on recuirtment firm for the need ofman
power.
12) The video camera is used for the interview as the time is less
for
interviewing the person.
13) Sometimes candidate selection is not as per the profile for the juniorlevel
staff. E.g. A HR executive is given assistance who is doing CA orB.com
But not MBA or MPMstudents.
14) The other branches have to give 15 days notice for the placevacancy.
15) The candidate selected for the job from all over India are not
given
training at there work place but at Head office and bare theirexpense.
16) The selection of the candidate in Bajaj Allianz is done up to themark.
There is nobias s view for other.
17) The Full and Final settlement of employee s process is centralizedinthe
Bajaj Allianz.
18) Thecompany is having onlysingle authorized executive HRperson todo
the Full and Final settlement employee s process since 3yrs for
the 55
branches.
1 9) T he l ef temployees
documents are to besend to the Headoffice fromthe
other branches inIndia.
20) The data provided by other branches in the form papers areslowin
speed.
21) The sales department and finance department their clearances
process is
alsoslow.
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CONCLUSION
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CONCLUSION
The overall Recruitment process in Bajaj Aliianz is satisfactory. There arecertain
organization objectives both in short term and longterm should be takeninto
consideration as a basic parameter for recruitment decision and needof the
personnel area which will be beneficial to everyone inorganization.
There are minor modifications in the areas like doc umentation ofrecruitment
process, other department head participation in interview, written test,evaluation
of return test and use of latest equipment for interview etc to be made forwhich
suggestions are given in the following paragraphs.
As a matter of good HR practices leaving of employees should beprevented.But
the companyshouldcarry out exit interviewand take correct action to retainthe
employees in the organization. Once the employees leaves theorganization
process of Full and Final Settlement of employees should be completedquickly.
The company should make the process of em ployee s settlement fastas the
documents reach the sales department and financedepartment.
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SUGGESTIONS
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9 SUGGESTIONS
RECRUITMENTPROCESS SYSTEM
1) Therecruitment process in Bajaj Allianz should bedecentralized as perthe 4
region. The branch manager and HR person of that region should haverights
to carry out the recruitment process and must inform the headoffice and
s ho ul d g et i tapproval.
2) The middle level employees should have knowledge of therecruitment
process and the non HR employees should be given a HRmanual.
3) The other department head should be involved in the interview processashe
knows right person for the job of hisdepartment.
4) The selected candidates should beegiven training at their work placebythe
the tr a iner of thedepartment.
5) The test duration should be kept short for the senior level employees sothat
more time is not taken and they can concentrate on thework.
6) The company should develop or provide software which should provide atest
score as the test is over. So the time is saved inevaluation.
7) The company should concentrate on the personal interview asvideo
conference interview cost more money and the candidate is morenervous.
SUGGESTION : FULL AND FINAL SETTLEMENT
8) In Baja Allianz there is only single authorized HR executive in HRdepartment
for doing Full and Final settlement of employees and the companyshould
provide assistance so the work is completedfast.
OR
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9) The Full and Final settlement should be decentralized as per the 4region and
process should be completed by region authorized HR person and
Cheque
should be singed by Head office
HR.
10) The Full and Final system is done by head office HRpersonand
documents provided toHead office isslowin speed so the speed post serviceor
courier service should be changed or tell them to provide betterservice.
11) Thesales administration and Finance department of headofficemust
Increase the speed of the clearances by providing themassistance on
contract basis. So the speed will increase and HR person can do
calculation
fast and process can be short and not toolong.
12) The branch manager should provide correct information of the leftemployees
so that calculation can be done perfectly and HR person should not bealways
asking the branch manager for correctinformation.
13) To avoid the incorrect infor mation by branc h manager the companyshould
have proper MISsystem. So that when time needed both the personcan
access it. Proper Software should be develop and training must be
given to
them regarding ituse.
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ANNEXURE
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ANNEXURE1
The Questionnaire of Recruitment Processes
System
NAME:
DEPARTMENT CODE :
EMPLOYEE CODE:
EMPLOYEE GRADE:
Q.1. Are you satisfied with Recruitment system in BajajAllianz?
a) Not at all b)satisfied c) Totally Satisfied d) TotallyGood
e) Excellent.
a) b) c)d)
e)
Q.2. Whether the Recruitment process isdocumented?
a) Yes b)No
a) b)
Q.3. Whether the Recruitment process is documented if YESthan the
substances level of its knowledge to othersis:
a) Clear b)Vague.
a) b)
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Q.4. Whether the Recruitment system is transparent at alllevel?
a) Not at all b)To someextent c) To greatextent.
a) b)c)
Q.5. Is the Recruitment process uniform at alllevel?
a) Yes b) No c) varies as perdepartment.
a) b) c)
Q.6. Whether the department head is constitutes in the interviewofthe
recruitment
process?
a) Totally linked b) partially linked c)Notat all.
a) b) c)
Q.7. Whether the response of HRdep artment or person on vacancy
is?
a) Not slow b) slow c) Quick d) Very responsive d)Excellent
a) b) c) d) e)
Q.8. Whether the written test design gives real advantage orsatisfaction?
a) Not at all b) satisfaction c) Total Satisfaction d) Totallygood
e) Excellent.
a) b) c) d) e)
Q.9. Whether the duration of the writtenis?
a) Tooshort b)Not long c) Long d) Toolong.
a) b)c)
d)
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Q.10. How is the test evaluation of the recruitmentprocess?
a) Fair b) Justified c) Notjustified.
a) b) c)
Q.11. what is the criteria of selection in Bajaj Allianz of the requirementprocess if
Knowledge considered rate inpercentage.
a) 20-30% b)31-50% c)51-70% d) 71-80% e) 81-100%
a) b) c) d) e)
Q.12. what is the criteria of selection in Bajaj Allianz of the requirement
process if
Knowledge + Experience considered rated inpercentage.
a) 20-30% b)31-50% c)51-70% d) 71-80% e) 81-100%
a) b) c) d) e)
Q.13. what is the criteria of selection in Bajaj Allianz of the requirementprocess if
Experience considered rated inpercentage.
a) 20-30% b)31-50% c)51-70% d) 71-80% e) 81-100%
a) b) c) d) e)
Q.14. Whether the middle level i.e. executive are well know of therecruitment
Process?
a) Not at all b) To some extent c) Thoroughlyknown
a) b) c)
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Q.15. The major Man power source in Bajaj Allianz of recruitment process
is?
a) Newspaper b) Internal recruitment c) Campus interview d)
Firm or
Agencies oncontract basis.
a) b)c)
d)
Q.16. Which is the most powerful method of the interviewing thecandidate and
selecting the candidate in BajajAllianz?
a) Telephonic Interview b) Personal interview c) Video conferenceinterview.
a) b) c)
Q.17. Whether the selection in Bajaj Allianz is done on the basis of themerit?
a) Yes b)No c)Can tsay
a) b) c)
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ANNEXURE2
The Questionnaire Full and Final
System
NAME:
DEPARTMENT CODE :
EMPLOYEE CODE:
EMPLOYEE GRADE:
Q.1. How is Full and Final Settlement System in BajajAllianz?
a) Poor b)Average c)Satisfactory d) Good e) Excellent
a) b) c) d) e)
Q.2. The content of Full and Final settlement is uniform at alllevel?
a) Yes b) No c) Various as per Grades or Position in thecompany
a) b) c)
Q.3. The duration taken for the Full and Final Clarencesystem is?
a) 1-2days b)3-5 days c) 5-7days d) 7-15days
e) Morethan 15 days.
a) b) c) d) e)
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Q.4. The process ofthe Full and Final settlementis?
a) Small process b) Lengthy process c) Time consuming
process.
a) b) c)
Q.5. How is the dispatch system of document from all over Indiabranches to
Head office of HR department for the process and calculation of theFull and
Final settlementare?
a) Poor b)Average c)Satisfactory d) Good e) Excellent
a) b) c) d) e)
Q.6. The data provided to Head office HR department from otherBranches are
always correct for Fulland Final process?
a) Yes b)No
a) b)
Q.7. How is the process of giving clearance by sales admin andfinance
department after documents reaching and verified by HRdepartment?
a) Small process b) Lengthy process c) Time consumingprocess
a) b) c)
Q.8. The calculations and amount of the Full and Final settlement in BajajAllianz
done byHR ofhead office after getting clearance from 2departmentare?
a) Always right b)Sometimes perfect c) Not at allright.
a) b) c)
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Q.9. After the Clearance is over the DD issued in the name of the leftemployees
are received in how many
days?
a) 1-2 days b) 3-5 days c) 5-7 days d) 7-15
days
a) b)
c)
d)
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ANNEXURE3
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BIBLIOGRAPHY
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BIBLIOGRAPHY
Books
H um an R es ou rc eManagement
- A nj al iGhanekar
Manual
HRD Manual of Bajaj
Allianz.
Websites
www.google.com
www.bajaj allianz. com
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