METHODOLOGY The insurance sector is marked with a high level of attrition and therefore recruitment process becomes a crucial

function of the organization. At ICICI Prudential Life Insurance, recruitment is all time high during May-June and OctNov. The attrition is high among the sales managers, unit mangers mostly in the sales profile. The recruitment is high during these months due to the fact that March and September are half year closing and business is high during Jan-Mar. Thus it is only after March that people move out of the companies. Since my summer training was in the months of May-June, it gave me the opportunity of involving myself directly with the recruitment process and analyzing the process so that suitable recommendations can be given. This project is centered on identifying best hiring practices in the insurance industries. It therefore requires great amount of research work. The methodology adopted was planned in advance so as to collect data in the most organized way. My area of focus was the recruitment and selection particularly at ICICI Prudential Life Insurance. I was directly involved with the recruitment for candidates for the sales profile. I was particularly involved with the sourcing of candidates for the regions outside Delhi such as M.P, U.P and Rajasthan. Before any task was undertaken, we were asked to go through the HR policies of ICICI Prudential Life Insurance so that we get a better understanding of the process followed by them. v The first task was to understand the various job profiles for which recruitment was to be done. The next step was to explore the various job portals to search for suitable candidates for the job profile. Once the search criteria were put, candidates went through a telephonic interview to validate the information mentioned in their resume. A candidate matching the desired profile was then lined for the first round of Face to Face interview in their respective cities.

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Firstly the candidate had filled up the personal data form(pdf). Then the candidates INTERVIEW EVALUATION SHEET which is provided by interviewer was crosschecked by the HR team. If they think that the candidate was good to hire or not. When a candidate cleared his first round, he is then made to take an online aptitude test. We created the online aptitude test. It the HR department, which has the exclusive rights to assign test, codes to the candidates. Each code was unique and could be used only once by a candidate. I was involved in assigning codes and administering the test Once the candidate completed his first assessment, his scores were checked. If he cleared his cut-off he was given another test. I had the responsibility to make sure that candidates complete all formalities and had to regularly follow up with them. Since we received many resumes, it was essential that a database be maintained to keep a track. It was convenient method than to stock up piles of papers. ICICI has their own database named as PACE, I update all the records of the new joinees in that tracker. PACE containes all the information of a candidate such as name, contact number, location etc. The external guide maintained a regular updating of the database. Understanding what kinds of database are maintained and how they help in keeping a record. I was also involved in maintaining a track of test codes given, the database for employee referrals, Database for the resumes received through mails and response of advertisement.

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RECRUITMENT AND SELECTION

The art of choosing men is not nearly so difficult as the art of enabling those one has chosen to attain their full worth. Recruitment is the process by which organizations locate and attract individuals to fill job vacancies. Most organizations have a continuing need to recruit new employees to replace those who leave or are promoted in order to acquire new skills and promote organizational growth. Recruitment follows HR planning and goes hand in hand with selection process by which organizations evaluate the suitability of candidates. With successful recruiting to create a sizeable pool of candidates, even the most accurate selection system is of little use Recruiting begins when a vacancy occurs and the recruiter receives authorization to fill it. The next step is careful examination of the job and enumeration of skills, abilities and experience needed to perform the job successfully. Other steps follow: Creating an applicant pool using internal or external methods Evaluate candidates via selection Convince the candidate And finally make an offer Recruitment planning on the basis of budget

A. The manpower planning process for the year would commence with the companys budgeting activity. The respective Functional heads would submit the manpower requirements of their respective functions/ departments to the board of Directors as part of the annual business plan after detailed discussion with the head of human Resource Function along with detailed notes in support of the projected numbers assumptions regarding the direct and indirect salary costs for each position.

B. A copy of the duly approved manpower plan would be forwarded by the HR department for their further actions during the course of the year. The annual budget would specify the manpower requirement of the entire organization, at different levels, in various functions/departments, at different geographical locations and the timing of the individual requirements. It would also specify the requirement budget, which is the cost allotted towards the recruitment of the budgeted staff and the replacement of the existing employees. The manpower plan would also clearly indicate the exact time at which the incumbent should be on board in such a way that the Regional HR has adequate notice for the time lapses involved in sourcing any other activities. C. The Regional HRs would undertake the planning activity and necessary preparations in advance of the anticipated requirements, as monthly and quarterly activities on the basis of the approved budget, estimated separations and replacements therefore. D. The vacancies sought to be filled or being filled shall always be within the approved annual manpower budget and no recruitment process shall be initiated without the formal concurrence of the Head of the Regional HR under any circumstance. Head of the Regional HR shall also have the responsibility to monitor the appointments being considered at any point of time with specific respect to the duly approved manpower budge