View
236
Download
0
Category
Preview:
Citation preview
7/31/2019 Akash Chatterjee
1/80
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 *
1
7/31/2019 Akash Chatterjee
2/80
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
2
7/31/2019 Akash Chatterjee
3/80
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.
3
7/31/2019 Akash Chatterjee
4/80
CONTENTS
Sr. No. Description Page No.
LIST OF TABLES
Table No. Table Name Page No.
4
7/31/2019 Akash Chatterjee
5/80
LIST OF GRAPHS/CHARTS
Chart No. Chart Title Page No.
5
7/31/2019 Akash Chatterjee
6/80
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.
6
7/31/2019 Akash Chatterjee
7/80
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
7
7/31/2019 Akash Chatterjee
8/80
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 :
8
7/31/2019 Akash Chatterjee
9/80
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
9
7/31/2019 Akash Chatterjee
10/80
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.
10
7/31/2019 Akash Chatterjee
11/80
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.
11
7/31/2019 Akash Chatterjee
12/80
1.4 LIMITATIONS
1.4 LIMITATIONS
There were some constraints during the project because of which perfection cannot be ensured
out of total findings.
12
7/31/2019 Akash Chatterjee
13/80
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
13
7/31/2019 Akash Chatterjee
14/80
2. THEORETICAL BACKGROUND
RECRUITMENT AND SELECTION:
Human Resource is a basic need of any work to be done. According to ARTHUR LEWIS:
14
7/31/2019 Akash Chatterjee
15/80
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:
15
Human resource
planning
Job analysis
7/31/2019 Akash Chatterjee
16/80
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
16
Placement
Selection
Recruitment
7/31/2019 Akash Chatterjee
17/80
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:
17
7/31/2019 Akash Chatterjee
18/80
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
18
7/31/2019 Akash Chatterjee
19/80
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.
19
Recruitment
Planning
Sources of
Recruitment
ContactingSources
To SelectionProcess
ApplicationPool
7/31/2019 Akash Chatterjee
20/80
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
20
7/31/2019 Akash Chatterjee
21/80
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.
21
7/31/2019 Akash Chatterjee
22/80
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.
22
Application Pool from
Recruitment Process
Screening of Application
Forms
Selection Tests
7/31/2019 Akash Chatterjee
23/80
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.
23
Employment Contract
Selection Interviews
Final Selection
Approval by Appropriate
Authorit
Physical Examination
Checking of References
Evaluation
7/31/2019 Akash Chatterjee
24/80
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
24
7/31/2019 Akash Chatterjee
25/80
ON THE BASIS OF INTERACTION PATTERN
Structured Interview
Unstructured Interview
Depth Interview
Stress Interview
3. ORGANIZATIONAL PROFILE
Bajaj Allianz Life Insurance Company Limited
25
7/31/2019 Akash Chatterjee
26/80
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
26
7/31/2019 Akash Chatterjee
27/80
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
27
7/31/2019 Akash Chatterjee
28/80
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
28
7/31/2019 Akash Chatterjee
29/80
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
29
7/31/2019 Akash Chatterjee
30/80
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
30
7/31/2019 Akash Chatterjee
31/80
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)
31
7/31/2019 Akash Chatterjee
32/80
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
32
7/31/2019 Akash Chatterjee
33/80
Capital shield
Century plus II
HIERARCHY OF SALES DEPARTMENT
33
Head of Sales
Regional Manager
Zonal Manager
Divisional Manager
Branch Manager
7/31/2019 Akash Chatterjee
34/80
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
34
Insurance Consultants
Sales Manager
7/31/2019 Akash Chatterjee
35/80
Sr.Executive
Executive
Jr.Executive
FIGURE 4: Structure of HR Department in BALIC HO
4. REVIEW OF LITERATURE
35
7/31/2019 Akash Chatterjee
36/80
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.
36
7/31/2019 Akash Chatterjee
37/80
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
37
7/31/2019 Akash Chatterjee
38/80
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:
38
7/31/2019 Akash Chatterjee
39/80
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
39
7/31/2019 Akash Chatterjee
40/80
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
40
7/31/2019 Akash Chatterjee
41/80
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.
41
7/31/2019 Akash Chatterjee
42/80
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?
42
7/31/2019 Akash Chatterjee
43/80
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.)
43
7/31/2019 Akash Chatterjee
44/80
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
44
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
7/31/2019 Akash Chatterjee
45/80
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
45
7/31/2019 Akash Chatterjee
46/80
Q.7.Do you think Bajaj Alliance should outsource the recruitment needs?
a.Yes
b.No
46
7/31/2019 Akash Chatterjee
47/80
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
47
7/31/2019 Akash Chatterjee
48/80
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
48
7/31/2019 Akash Chatterjee
49/80
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
49
7/31/2019 Akash Chatterjee
50/80
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
50
7/31/2019 Akash Chatterjee
51/80
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
7/31/2019 Akash Chatterjee
52/80
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%
52
7/31/2019 Akash Chatterjee
53/80
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
53
7/31/2019 Akash Chatterjee
54/80
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
7/31/2019 Akash Chatterjee
55/80
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
55
7/31/2019 Akash Chatterjee
56/80
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
56
7/31/2019 Akash Chatterjee
57/80
20. Have you outsourced any of the recruitment activities? Yes/No
If yes, then pls specify which one?
Options RespondentsYes 0
No 12
57
7/31/2019 Akash Chatterjee
58/80
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
58
7/31/2019 Akash Chatterjee
59/80
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
59
7/31/2019 Akash Chatterjee
60/80
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
60
7/31/2019 Akash Chatterjee
61/80
61
7/31/2019 Akash Chatterjee
62/80
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
62
7/31/2019 Akash Chatterjee
63/80
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.
63
7/31/2019 Akash Chatterjee
64/80
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
64
7/31/2019 Akash Chatterjee
65/80
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
65
7/31/2019 Akash Chatterjee
66/80
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.
66
7/31/2019 Akash Chatterjee
67/80
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
67
7/31/2019 Akash Chatterjee
68/80
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
68
7/31/2019 Akash Chatterjee
69/80
BIBLIOGRAPHY
9.1 Books Referred:-
69
7/31/2019 Akash Chatterjee
70/80
70
7/31/2019 Akash Chatterjee
71/80
9.2 Websites:
71
7/31/2019 Akash Chatterjee
72/80
10. ANNEXSURES
ANNEXURES
Questionnaire for Recruitment Team
PLEASE FILL FOLLOWING DETAILS:
1.Organization Name:
72
7/31/2019 Akash Chatterjee
73/80
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
73
7/31/2019 Akash Chatterjee
74/80
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
7/31/2019 Akash Chatterjee
75/80
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
75
http://blog.gorecroot.com/blog/2007/06/20/recruitment-return-on-investment-calculator/http://blog.gorecroot.com/blog/2007/06/20/recruitment-return-on-investment-calculator/7/31/2019 Akash Chatterjee
76/80
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
7/31/2019 Akash Chatterjee
77/80
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
77
7/31/2019 Akash Chatterjee
78/80
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%
78
7/31/2019 Akash Chatterjee
79/80
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?
79
7/31/2019 Akash Chatterjee
80/80
Recommended