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Summer training project
Recruitment procedure in Bajaj Allianz life insurance
Presented by :- vijendra kumar meena 11046
index
AcknowledgementCompany ProfileIndustry ProfileCode of ConductHuman Resource DepartmentRecruitmentOrganizational StrengthOrganizational LacksSuggestions by RespondentsSources of Data CollectionLearning ExperienceConclusion
Acknowledgement
I would like to thank:-Shilpum SharmaVijay SharmaKanwar tanwar
Company Profile
Bajaj Allianz Life Insurance Company Limited is a Union between Allianz SE & Bajaj auto
VisionTo be the best insurance co. in India to buy from,
work for & invest in
Incorporated: 12 March 2001In Life Insurance Industry and amongst private
sector players they are the ranked No1.with 26.5% market shares.
It has more than 600 offices in 560 towns
continued………
continued
Products: -1. Individual plans: - Unit Linked insurance plans Traditional insurance plans Pension plans Term plans2. Group Life Plans: Group Credit Shield Group Term Life Group Term Life Scheme in lieu of EDLI Group Gratuity Care Group Superannuation Care Small Group Term Life
Industry profile
World’s Largest Insurance co. by revenue – Rs 5, 20,353 Cr (Euro 96.9 billion)
Worldwide 2nd by Gross Written Premiums – Rs 4, 77,930 Cr (Euro 89 billion)
11th largest corporations in the worldMore than 70 countries, 173,750 employees
worldwide
Network for reach
Strong Branch Network of 1000+ Branches and growing....
Over 10000+ Sales Term Managers300,000+ Insurance Care Consultants170+ Bancassurance partners across the
countryStrong alternate channel with 2200
Franchisees, 200 corporate agents, 74 brokers and 28 direct marketing branches.
Distribution network
Bajaj Allianz Life Insurance - Distribution Network
Agency Channel
Branches (257)
Satellites (643)
Bancassurance
Standard Chartered Bank
Syndicate Bank
Urban Co-Op Banks
Dist. Co-Op Bank
Regional Rural Banks
Catering to mass & rural markets
Group & Alternate Channel
Employee Benefit
Corporate Agents
Franchisees
Direct Mktg
Brokers
Over 2,00,000 strong Tied
Agency Force and growing
Rapidly everyday
GE Money
Code of conduct
1. Principle: Fair and Regulator Conduct of Business2. Professional Development: based upon Performance and
Potential 3. Professional Development: based upon Performance and
Potential 4. No Insider Trading or Recommendation5. Communication, Professional Independence of
Journalists and Media6. Customer Information and Advice 7. Potential Conflicts of Interest with Clients and Business
Partners8. Complaints Management9. Financial Reporting10. No Corruption or Bribery11. . Acceptance of Gifts and other Benefits
Continued.
12. Gratuities to Representatives of Public Institutions 13. Political and Charitable Contributions/ Sponsorship 14. Granting of Gifts and other Benefits/ Invitations to
Entertainment 15. Potential Conflicts between Private Interests of Employees and
Allianz Group/ OE Interests 16. Licenses and Registration 17. Acceptance and Handling of Client’s Funds and Valuables 18. Protection of Group Property and of Natural Resources 19. Prevention of Money Laundering and Financing of Terrorism,
no Illegal Activities 20.Ethical Conduct of Business 21. Consequences of Non-Compliance22. Protection of Employees in Case of Communication about
Illegal or Questionable Activities
Human resource department
TrainingSkill development and up gradation o
knowledge and skills of employees.Motivating the employees.Effective utilization of employee's skills and
capabilities.Attracting the personnel and their retention.Wages, salaries and rewards.Monitoring and controlling the employee's
performance.
Continued…..
Job Description: -Job TitleJob SummaryJob ActivitiesJob Specification: Educational QualificationExperience Skills Knowledge Ability
Recruitment
Recruitment is a ‘linking function’ – “joining together those with jobs to fill and those seeking jobs.”
It is the process of finding and attracting capable applicants for employment
The process begins when new recruits are sought and ends when their applications are submitted
The result is a pool of applicants from which new employees are selected.
Purpose of Recruitment
1. Determine the present and future requirements of the organization
2. Increase the pool of hob candidates at minimum cost.
3. Help increase the success rate of the selection process
4. Increase organizational and individual effectiveness in the short term and long term.
5. Help reduce the probability that hob applicants, once recruited and selected, will leave the organization only after a short period of time.
6. Begin identifying and preparing potential hob applicants who will be appropriate candidates.
7. Meet the organization’s legal and social obligations regarding the composition of its work force.
Employee grade
L5 Department heads
L4 Regional/sales heads
L3 Functional/sr. managers
L2 Managers/supervisory roles
L1 Executives/customer support executives
RECRUITMENT-BROAD PERSPECTIVE
Job Analysis Personal Planning
Nature & requirement of
specific jobs
No. of specific jobs to be filled
Recruitment
Constraints
Poor Image
Unattractive job
Government policy
Inducements
CompensationCareer OpportunitiesImageReputation
Pool of Qualified applicants
Selection
METHODS OF RECRUITMENT
1. Internal methods a. Promotion and Transfersb. Posting c. Employee Referrals
2. Direct methods a. Campus Recruitment
3. Indirect methods a. Advertisementsb. Newspapers adsc. Internet ads
4. Third Party Methods a. Private employment search firms
b. Employment exchangesc. Gate hiring & contractorsd. Unsolicited applicants/walk-ins
5. Alternatives to recruitment a. Overtimeb. Contractingc. Temporary leasingd. Employee leasing
EXISTING RECRUITMENT PROCESS
MANPOWER
REQUIREMENTS IN DIFFERENT DEPARMENT
HUMAN RESOURCE DEPARTMENT
STRATEGYDEVELOPMENT
WHEREHOWWHEN
IMPLEMENTING THE STRATEGIES
Receipts of applicants
General Recruitment Process of Bajaj Allianz
1. C.V. is collected through internal sources or external sources
2. CV’s are as per the requirement or not.3. Normal caliber test or normal aptitude test is
held.4. Interview assessment sheet is generated5. Interview is taken by the interviewer6. After the approval the letter is sent to the
Mumbai head office.7. From here, appointment letter is generated and
they’ll get back to the concerned location within 4-6 days. This is approved by the H.O.D. of Bajaj Allianz, Mr. Yogesh Gupta and the H.R. Head, Mr. Jaydeep Chaure
Organizational Strengths
Employees have positive view towards management.People are satisfied with HR practices.People are nurtured carefully as they are key assets.Less absenteeism.Performance Appraisal is adopted.People feel enjoy to work here.Aimed towards the overall development of
individual.No place for inter or intra departmental conflicts.Customer delighted is more emphasized.Problems are taken as opportunity and solved with
team efforts
Organizational Lacks
Employee turnover rate is very high.Hierarchy level is high.Working Process is very complicated, so its
not easily understandable.Sometimes customers are not in favor of the
company policy.Formal environment of the organization,
employees can't do their work according to them.
Suggestions by Respondents
HR should co-ordinate with more people.HR should concern about the employees.More responsibilities should be given to individual
and to give more space to work.Along with discipline and entertainment, games
activities are to be increased to keep team member happy and fresh.
Select right person for right job.Should understand people's want and career plan.Plan more activities for personnel development.Team spirit among team members should be
encouraged.
Continued……..
Arrange training for development of people in supervisory skills, leadership, management and English speaking.
Send staff for more and more exposure training.They need to allocate more funds for Welfare
Expenses and RecruitmentA close view towards competitors HR practices
should be given and they should be adopted in the department.
Worker's participation in management should be encouraged to a large extent and not only for decisions related to them.
HR practices like Performance Appraisal etc. are required to be more emphasis
SITUTIONAL AUDIT FOR RECRUITMENT
Organization need
For high
Quality employees
Potential applicants
Need for suitable
Job
Internal
Applicants
Economic
Social
Technological
Political
SOURCES OF Data Collection
INTERNAL SOURCESPrimary sourcesSecondary sources;a) Retrenched employeesb) Retired employeesc) Dependent of deceased employees
Training ManagersColleagues and FriendsPersonal Talk
Continued …..
EXTERNAL SOURCESa) Employees working in other organizations.b) Job aspirants registered with employment exchanges.c) Students from reputed educational institution.d) Candidates forwarded by search firms and contractors.e) Candidates responding to the advertisements, issued by the
organization.f) Unsolicited applications/walk-ins.g) Interneth) Literature of Bajaj Allianz Co. Ltdi) Literature of HR departmentj) Bajaj Allianz magazinesk) Relevant Booksl) Product Brochuresm)Others Sources
Learning Experience
“problem is a problem only when perceived it as a problem”.
I've learned to take problems as opportunities and tried to overcome that
things like how to talk in a formal settings or how to react, how to handle things, which really added to improve my personality.
Continued…
I learned how we will check the attendance of employee and how would regularize the attendance.
CV scanning is very important in selection of employee.
How we do interview assessment in organization.
Performance management is very important in organization.
Conclusion
Bajaj Allianz is a joint venture of Bajaj Auto and Allianz SE. Bajaj Auto is one of the largest 2 and 3 wheeler manufacturing in the world and Allianz SE is world' s largest insurance company by revenue – Rs.5, 20,353 Cr (Euro 96.9 billion)
The corporate staff is equipped with the latest technology as laptops, intranet, data cards etc and is surrounded by the congenial environment
The employees are being provided with their variable payouts twice in a year and the consultant with MUFAI, which is Asia' s second largest consultant company.
The all HR practices, which followed, are suitable and adaptable by the employees.
Q & A
Thank you