INTRODUCTION

Human resource management (HRM) is

the strategic and coherent approach to the management of an organization's
most valued assets - the people working there who individually and
collectively contribute to the achievement of the objectives of the
business. The terms "human resource management" and "human resources"
(HR) have largely replaced the term "personnel management" as a
description of the processes involved in managing people in
organizations. In simple sense, HRM means employing people, developing
their resources, utilizing, maintaining and compensating their services in
tune with the job and organizational requirement

Today's rapidly changing business environment, organizations have

to respond quickly to requirements for people. Hence, it is important
to have a well-defined recruitment policy in place, which can be
executed effectively to get the best fits for the vacant positions.
Selecting the wrong candidate or rejecting the right candidate could
turn out to be costly mistakes for the organization. Selection is one
area where the interference of external factors is minimal. Hence the
HR department can use its discretion in framing its selection policy
and using various selection tools for the best results. These caselets
discuss the importance of having an effective recruitment and
selection policy.

MEANING OF RECRUITMENT:
According to Edwin B. Flippo, “Recruitment is the process of searching
the candidates for employment and stimulating them to apply for jobs
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 in the organisation”. Recruitment is the activity that links the employers
and the job seekers. A few definitions of recruitment are:
• A 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
applications from which new employees are selected.
Recruitment of candidates is the function preceding the selection, which
helps create a pool of prospective employees for the organisation so that
the management can select the right candidate for the right job from this
pool. The main objective of the recruitment process is to expedite the
selection process.
Recruitment is a continuous process whereby the firm attempts to
develop a pool of qualified applicants for the future human resources
needs even though specific vacancies do not exist. Usually, the
recruitment process starts when a manger initiates an employee
requisition for a specific vacancy or an anticipated vacancy.

RECRUITMENT NEEDS AND IMPORTANCE

RECRUITMENT NEEDS ARE OF THREE TYPES

• PLANNED i.e. the needs arising from changes in organization and

retirement policy.
• ANTICIPATED: Anticipated needs are those movements in
personnel, which an organization can predict by studying trends in
internal and external environment.
• UNEXPECTED: Resignation, deaths, accidents, illness give rise to
unexpected needs

Purpose & Importance of Recruitment

• Attract and encourage more and more candidates to apply in the

organisation.
• Create a talent pool of candidates to enable the selection of best
candidates for the organisation.
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 • Determine present and future requirements of the organization in
conjunction with its personnel planning and job analysis activities.
• Recruitment is the process which links the employers with the
employees.
• Increase the pool of job candidates at minimum cost.
• Help increase the success rate of selection process by decreasing
number of visibly under qualified or overqualified job applicants.
• Help reduce the probability that job applicants once recruited and
selected will leave the organization only after a short period of time.
• Meet the organizations legal and social obligations regarding the
composition of its workforce.
• Begin identifying and preparing potential job applicants who will be
appropriate candidates.
• Increase organization and individual effectiveness of various
recruiting techniques and sources for all types of job applicants.

Recruitment Process
HR practices its function in each and every stages of recruitment. The
process comprises five interrelated stages, viz. (i) Planning, (ii) Strategy
development, (iii) Searching, (iv) Screening, and (v) Evaluation and control.

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 The function of HR is to make the selection procedure an ideal one. The
ideal recruitment programmed is the one that attracts a relatively larger
number of qualified applicants who will survive the screening process and
accept positions with the organization, when offered.
Recruitmen
Searching
Strategy
Evaluation
Personnel
Screening
Employee
Job
To
Job
Fig: Development
tSelection
Activation
&
Requisition
Vacancies
Analysis
Planning
Planning
Control
-Where
-Numbers
“Selling”
-Types
-Message
-How
-Media
-When

Recruitment Process

SELECTION

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Selection is a process of picking individuals (out of the pool of job
applicants) with requisite qualifications and competence to fill jobs in the
organization. Different hotels apply different methods and procedure for
recruitment as well as selection. It basically depends on the management
policies and the size of operation.

Selection Process
Selection is a long process, commencing from the preliminary interview of
the applicants and ending with the contract of employment. Fig. shows the
generalized selection process. In practice, the process differs among
organizations and between two different jobs within the same organization.
Selection procedure for senior managers will be long-drawn and rigorous,
but it is simple and short while hiring shop-floor workers.
RA:
Employment
External
Selection
Physical
Employment
Preliminary
Internal
Selection
Evaluation
Rejected
Job
Reference
Environment
Offer
Environment
Examination
Decision
Test
Interview
Contract
Interview
Applicants
&
Background Analysis

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 Fig: General Selection Process

Selection Process

Written
Extemporization
Final
Letter
Pre-placement
Psychometric
Preliminary
Group
Interview
of
Aptitude
Offer
Test
Presentation
Discussion
with
Interview
Test
for
senior
short
listed
management
candidates

Sources Of Recruitment

Every organisation has the option of choosing the candidates for its
recruitment processes from two kinds of sources: internal and external
sources. The sources within the organisation itself (like transfer of
employees from one department to other, promotions) to fill a position
are known as the internal sources of recruitment. Recruitment
candidates from all the other sources (like outsourcing agencies etc.)
are known as the external sources of recruitment
SOURCE OF RECRUITMENT

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 Factors Affecting Recruitment

The recruitment function of the organisations is affected and governed by a

mix of various internal and external forces. The internal forces or factors are
the factors that can be controlled by the organisation. And the external
factors are those factors which cannot be controlled by the organisation. The
internal and external forces affecting recruitment function of an organisation
are:

FACTORS AFFECTING RECRUITMENT

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 LIFE INSURANCE FINANCIAL CONSULTANT

Eligibility for an Insurance Agent

Every person who has cleared higher secondary examination can become an
Agent other than a minor or the person who is convicted in any court for
crime or any legal proceedings. Men and women both can work as an
Agent. A single person can be associated with other life insurance
companies.
A training program is there to train a person who wants to become an Agent.
There is 100 Hrs. training program which can be done either with the
physical appearance in the class room or the interest basis. In the classroom
training the trainee has to be physically present in the training session. There
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are difference sessions of training program. A trainee can attend any session
according to his comfort. The training period is of 25 days approx. If the
trainee does not have enough time to devote in the classroom training, then
there is another option left that is training on Internet.

On the basis of Internet the trainee has provided a login number along with
the password through which he operated his login and completed his training
hrs. as convenient. Each and every hour pass on the net under his login head
will be count on his account. The test for the training program is also on line.
This is only procedure to be an Insurance Agent.
Work of financial consultant:
The FC is the interface between the customer and insurance company. l
The agent should be able to accomplish the following service.
• Assessing and analyzing the clients risk profile.
• Finding the best product or products available in the market.
• Negotiating the best deal available.
• Continuity of service throughout the period of insurance.

Role of a Financial Consultant

1. Meet people and present service

2. Understand their financial need
3. Customizes life insurance plans
4. Provide efficient after- sales support
5. Helps customers protect their lifestyle, realize their dreams and enjoy
their lives

Opportunity to a Financial Consultant

➢ Realize their dream.
➢ Flexible work hours.
➢ 100% self -decide income.
➢ Financial Independence to live with self respect.
➢ Be your Boss.

Business Opportunity to a Financial Consultant

Ensuring peace of mind and quality of life for the millions of people around
you.

Offers to a Financial Consultant

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An exciting career that can change your life.

Recruitment of Financial consultant (FCs) of a excellent profile and their

retention strategies and what are their benefit that company going to
provided for retention of their FCs.

 What type of people are we looking for ?

1) Committed people who have the drive, determination and ability to
become professional financial consultants.
2) Ability to sell a range of financial products.
 What do We Expect from financial Consultant ?
1) Devote a time and energy during training.
2) Sell at least 5 policies each month once after licensed with company.
3) We look forward to a long term mutually beneficial relationship.
 Why should financial consultant choose HDFC standard life ?
1) Brand value and the reputation of the partners (HDFC Limited) Market
leader in housing finance:
2) 15 lakhs home financed.
3) 11 lakhs retail deposits customer base.

➢ Reputation for providing the higher standards of customer service.

➢ Financial Strength of the partners.
➢ Brand value and the reputation of the partners standard life:
➢ 175 years experience in life insurance.
➢ Largest mutual life insurer in Europe.
➢ Product innovation.
Strategies: Strategies Employed to achieve the target are as follows:-
 Telecalling
 Contacting the person directly (interview)
 Collect references.
Some important steps to make effective telecalling:-
Open the call in a friendly and positive way.
State the name, position and company name.
Check the prospect has time to speak.
State the reason for the call.
Clearly succinctly explain how the meeting will be benefiting the prospect.

Achievements:
Recruited eight financial consultants for company.
Increase in confidence level.

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Got the knowledge about, how to differentiate our product form that of LIC.
Made more and more people aware about my companies Products (Policies)
Taken some appointments for policies and got positive response from 8
persons with the help of my BDM.

RECRUITMENT PROCESS:
Steps in recruitment of Insurance Agents
 Approach to the likely person
 Appointment as per condition
 Discuss the topic

 Give the documents which includes:-

1. Prospectus of the company
2. Brochure
3. Company’s plan
4. Questionnaire
 Collect the document after it’s completion
 Forward it to project manager
 Feed it in the computer as the database
 Follow up as per conditions
Modes of Contact
 Personal Contacts
 References
 Phone Calls
 Guidance as per Unit Manager
BENEFITS OF BEING A FINANCIAL CONSULTANT ARE AS FOLLOWS:

Financial consultant, the right way to start career:

As a financial consultant the role will be to identify prospective customer.
You will makes presentation, as to how you can help analyses their financial
needs, provide customize financial solution to cater to their respective needs
and conduct reviews on regular basis to keep customers on thank.

Easy way to start on career:

Zero investment: There is no start-up capital. Be an own boss with a flexible
working environment, unlimited earning potential and the opportunity to be
part of world class sales team.

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Flexible work timings, part time or full time: FCs can work
whenever he likes and from whereeve4r he like, FCs can work full time
depending on their convenience its like no other job however, the time.

Sunrise industry: Life insurance in Indiahas a huge potential for growth

Statistics reveal that only 25% of the insurable population in India is
insured and those insured are in need of still higher insurance cover. The
over 100% growth displayed by private life insurers indicates this hu7ge
untapped potential.

Strong Partnership:
A powerful brand – HDFC Standard Life Insurance:
We were the first private life insurance company to be granted a license by
IRDA.
We have been rated by business world magazine. As Indies most respected
private life insurance company 2004.
We have grown over 130% in the last and more than 8 Lakhs policy holder.
HDFC standard life insurance has one of the highest brand recall of around
80%
PROFESSIONAL TRAINING PROGRAMS AND CONTINUID
GUIDANCE:
At HDFC standard training is an inherent element of our support system for
FCs. Some of our training and support initiative are as:
IRDA Training:Online training of 100 hrs. prepares for career as FCs and
enables to pass the IRDA examination. After the IRDA license, first step
towards a successful career as a FC.
Basic Training and Induction: Independence of work experience, this
training will give perfect knowledge about the insurance industry along with
comprehensive knowledge about the insurance along with comprehensive
knowledge abut HDFC SLIC Product.
Disha training: This is a professional sales skill program eased by us to one
selling skills. Those program enable to understand customer need and
provide need based insurance solution.. A huge step from an amateur to a
true finance professional.
Advance Training:Once Fc have settled down as a FC professional we will
continuously upgrade capability and knowledge through sophisticated
training program, fit for this dynamic world of financial products and
markets.

UNMATCHED SUPPORT:
Marketing activity support to make task easier.
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 ➢ Advertising and communication support throughout the year.
➢ Customer friendly broachers and sales aid to help in selling insurance
solutions to customers.
➢ 24- hours information support, to help track the performance and
income.

SCOPE OF STUDY
Insurance Industry is emerging in a big way in both the Indian and
the overseas market and is on a recruitment spree to absorb the
talented, skilled and performance driven individuals for the
industry. There is a tendency among the recruiters to employ skilled
workers. The penchant of the insurance industry to recruit form
Indian can be attributed to a variety of reasons..
India is a repository of talent and the global corporations have
immense confidence in the skill of the employers recruited from
India. In the past couple of years a sudden growth has been noticed
in recruitment from India by the insurance companies that operate
globally. This has also helped in the creation of a considerable
number of job vacancies in the insurance industry. India has one of
the largest Higher Education System in the World. Therefore hiring
Indians enable the Insurance Companies to keep a step ahead of
their competitors. Skilled and competent employees can be hired by
the Insurance Industry at a minimum cost from India. Infact that
Insurance Industry recruitment from India is closely related to the
fact that apart from featuring as one of the major recruitment
markets in the world, India is also a country that boasts of skill
diversity. The Indian professionals are innovative, dedicated and
talented individuals who are preferred all across the globe and
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across myriad job arenas.

As due to critical diseases, growing percentage of accident and fear of

financial crisis every one wants to secure his or her future. Insurance sector
plays a vital role in assuring people about their future. As the scope of
insurance enhancing, the need of an insurance Agent who can guide the
potential customers is growing.
Being an Insurance Agent of HDFC-STANDARD LIFE INSURANCE
provides a legal mean to earn money which protects a person from earning
through a illegal source which is harmful for society as well as himself. For
the youngsters it provides great platform to prove them. On the basis of
their performance they can be recruited as unit manager.
Its recruitment procedure is very easy.

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 OBJECTIVES OF THE STUDY

Recruitment helps a company to achieve its objective from time to time by

creating a positive attitude among workers. Reducing wastage and making
maximum use of resources etc.

Allocating the jobs to the right person :-

If proper recruitment and selection methods are followed, the company will
be able to select the right people for the right job. When this happens the
number of people leaving the job will reduce as the will be satisfied with
their job leading to decrease in labour turnover

To know the benefits of Recruitment to the employees with respect to

welfare activities

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 LIMITATIONS OF THE STUDY

Limitations:-
So though the study aim to achieve the above mentioned Objective in full
earnest and accuracy, it may be hampered due to certain limitation. Some of
the limitations are as follows:
• To cover the various section for the society.
• Respondents may not be at home and may have to re-contacted or
replaced by others.
• Getting accurate response form the respondents due to their inherent
problem is difficult.
• Limited response from client.
• There is a time limitation it is not possible to study whole thing I
covered some special aspect as well as some topics.

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 INDUSTRY PROFILE

LIFE INSURANCE

Insurance sector in India is one of the booming sectors of the economy and
is growing at the rate of 15-20 per cent annum. Together with banking
services, it contributes to about 7 per cent to the country's GDP. Insurance is
a federal subject in India and Insurance industry in India is governed by
Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and General
Insurance Business (Nationalisation) Act, 1972, Insurance Regulatory and
Development Authority (IRDA) Act, 1999 and other related Acts.

Historical Perspective
1. In 1818 it was conceived as a means to provide for English Widows.
2. The Bombay Mutual Life Insurance Society started its business in
1870.
3. It was the first company to charge same premium for both Indian and
non-Indian lives.
4. The Oriental Assurance Company was established in 1880.
5. Till the end of nineteenth century insurance business was almost
entirely in the hands of overseas companies.
6. Insurance regulation formally began in India with the passing of the
Life Insurance Companies Act of 1912 and the provident fund Act of
1912.
7. Several frauds during 20's and 30's sullied insurance business in India.
8. By 1938 there were 176 insurance companies.
9. The first comprehensive legislation was introduced with the Insurance
Act of 1938 that provided strict State Control over insurance business.
10.The insurance business grew at a faster pace after independence.
11.The Government of India in 1956, brought together over 240 private
life insurers and provident societies under one nationalized monopoly
corporation and Life Insurance Corporation (LIC) was born.
12.Nationalization was justified on the grounds that it would create much
needed funds for rapid industrialization.
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Insurance sector in India was liberalized in March 2000 with the passage of
the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all
entry restrictions for private players and allowing foreign players to enter the
market with some limits on direct foreign ownership. There is a 26 percent
equity cap for foreign partners in an insurance company. There is a proposal
to increase this limit to 49 percent. The opening up of the insurance sector
has led to rapid growth of the sector. Presently, there are 16 life insurance
companies and 15 non-life insurance companies in the market. The potential
for growth of insurance industry in India is immense as nearly 80 per cent of
Indian population is without life insurance cover while health insurance and
non-life insurance continues to be well below international standards.

KEY MARKET INDICATORS

• Size of Market, Life and Non- Life:

$8 Billion a year
• Rate of Annual Growth :
Average of 20% for Life and 12% for Non-Life (1990-99)
• Geographical Restriction for New Players:
None. Players can operate all over the country.
• Equity Restriction in a New Indian Insurance Company :
Foreign promoter can hold up to 26%.
• Registration Restriction:
Composite Registration not available.
• Market Opening:
August 2000 with invitation for application for registration.
• Number of Registered Companies:

Type of Business Public Sector Private Sector Total

Life Insurance 01 12 13
General Insurance 04 09 13
Reinsurance 01 0 01
Total 06 21 27
• New Registration Awarded:
Twenty-one New Registrations issued:

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Life Insurance:
1. Allianz Bajaj Life Insurance Company Limited.
2. *Birla Sun-Life Insurance Company Limited.
3. *HDFC Standard Life Insurance Company Limited.
4. *ICICI Prudential Life Insurance Company Limited.
5. ING Vysya Life Insurance Company Limited.
6. *Max New York Life Insurance Company Limited.
7. Metlife Insurance Company Limited.
8. Om Kotak Mahindra Life Insurance Company Ltd.
9. *SBI Life Insurance Company Limited.
10.*TATA AIG Life Insurance Company Limited.
11. AMP SAN MAR Insurance Company Limited.
12. Dabur CGU Life Insurance Company Private Ltd.

General Insurance
1. Bajaj Allianz General Insurance Company Limited.
2. ICICI Lombard General Insurance Company Ltd.
3. *IFFCO-Tokio General Insurance Company Ltd.
4. *Reliance General Insurance Company Limited.
5. *Royal Sundaram Alliance Insurance Company Ltd.
6. *TATA AIG General Insurance Company Limited.
7. Cholamandalam General Insurance Company Ltd.
8. Export Credit Guarantee Corporation Limited.
9. HDFC-Chubb General Insurance Company Limited.

• Business of New Players:

Expected to take up a market share of 4-5% in three years.

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 COMPANY PROFILE
HDFC Standard Life Insurance Company Ltd.
HDFC Incorporated in 1977 with a share capital of Rs 10 Crores, HDFC has
since emerged as the largest residential mortgage finance institution in the
country The corporation has had a series of share issues raising its capital to
Rs. 119 crores. The gross premium income for the year ending March 31,
2007 stood at Rs. 2, 856 crores and new business premium income at Rs.
1,624 crores. The company has covered over 8,77,000 lives year ending
March 31, 2007.
HDFC operates through almost 450 locations throughout the country with its
corporate head quarters in Mumbai, India. HDFC also has an International
Office in Dubai, UAE, with service associates in Kuwait, Oman and Qatar.
HDFC is the largest housing Company in India for the last 27 years.

About HDFC, Standard Life & Joint Venture

STANDARD LIFE
Standard Life is Europe’s largest mutual life assurance company. Standard
Life, which has been in the life insurance business for the past 175 years is a
modern company surviving quite a few changes since selling its first policy
in 1825. The company expanded in the 19th century from kits original
Edinburgh premises, opening offices in other towns and acquitting other
similar businesses.
Standard Life Currently has assets exceeding over £ 70 billion under its
management and has the distinction of being accorded “AAA” rating
consequently for the six years by Standard and Poor.

JOINT VENTURE

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HDFC Standard Life Insurance Company Limited was one of the first
companies to be granted license by the IRDA to operate in life insurance
sector. Reach of the JV player is highly rated and been conferred with many
awards. HDFC is rated ‘AAA ’ by both CRISIL and ICRA. Similarly,
Standard Life is rated ‘AAA’ both by Moody’s and Standard and Poor’s.
These reflect the efficiency with which HDFC and Standard Life manage
their asset base of Rs. 15,000 Cr and Rs. 600,000 Cr. Respectively.
HDFC Standard Life Insurance Company Ltd was incorporated on
14thAugust 2000. HDFC is the majority stakeholder in the insurance JV with
81.4 %stale and Standard :of as a staple pf 18.6% Mr. Deepak Satwalekar is
the MD and CEO of the venture.
HDFC Standard Life Insurance Company Ltd. Is one of India’s leading
Private Life Insurance Companies., which offers a range of individual and
group insurance solutions. It is a joint venture between Housing
Development Finance Corporation Limited (HDFC Ltd.) India’s leading
housing finance institution and the Standard Life Assurance Company, a
leading provider of financial services from the United Kingdom. Both the
promoters are will known for their ethical dealings and financial strength
and are thus committed to being a long-term player in the life insurance
industry- all important factors to consider when choosing your insurer.
PRODUCTS
At HDFC Standard Life, we offer a bouquet of insurance solutions to
meet every need. We cater to both, individuals as well as to
companies looking to provide benefits to their employees. This
section gives you details of all our products. We have incorporated
various downloadable forms and product details so that you can
make an informed choice about buying a policy.
For individuals, we have a range of protection, investment, pension
and savings plans that assist and nurture dreams apart from
providing protection. You can choose from a range of products to
suit your life-stage and needs.
For organisations we have a host of customised solutions that range
from Group Term Insurance, Gratuity, Leave Encashment and
Superannuation Products. These affordable plans apart from
providing long term value to the employees help in enhancing
goodwill of the company.

HDFC Standard Life – Achievements

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  Inaugurated on 14th Aug 2000
 First Private Life Insurance Co. to get license from IRDA
 Customer Base of more than 10,00,000 customers
 “Best New Insurer” Award from Outlook Money - 2003
 “Most Respected Private Insurance Company” Award from
Business Word – 2004
 “Intelligent Enterprise” Award from Technology Senate
 First Private Life Insurance Co. to declare bonuses
 Bonus Declaration for 6 consecutive years from inception
 First Private Life Insurance Co. to introduce certification to sell Unit
Linked Policies
 First to implement Need Based Selling in insurance
 First Life Insurance Co. to introduce Fund with 100 % exposure to
Equities
 First Life Insurance Co. to offer 24 free switches to their Unit Linked
Policyholders

VISION of HDFCSL

The most successful and admired life insurance company, which means that
we are the most trusted company, the easiest to deal with, offer the best
value for money, and set the standards in the industry. In short,
“The most obvious choice for all”

Values of HDFCSL

- Integrity - Innovation
- Customer Centric - People Care
- Team Work - Joy & Simplicity

SWOT
STRENGTHS
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 1. HDFC Standard life insurance offers a range of individual and
group insurance solutions.
2. HDFC Standard Life has the financial expertise required to
manage your long-term investments safely and efficiently.
3. The company has covered over 8,77,000 lives year ending
March 31, 2007
4. Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive
year for High service standards
5. Life insurance industry is a rapid growing and a nobler service
industry.
WEAKNESSES
1. LIC is prevalent and sustains even today a major source of
population.
2. Low number of offices and network and number of life
insurance agents.
3. Lack of knowledge and expertise.
OPPORTUNTIIES
1. Life insurance has captured its mere15 – 20% growth therefore
a wide open untapped market is open to the company to
develop, grow and measure its success.
2. Still the number of companies are few and company has every
capabilities to grow and forward its performance areas to the
widest

THREATS

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 1. People are hesitant to invest and put their hard earned money
to the private life insurance company with the fear of getting
lost.

2. Belief towards LIC as it is a government corporation phobia is

continue to surmount the people of India despite lots of flaws
and development and liberalization of life insurance.
3. Alternative financial services such as mutual fund, banking
services, share and securities also pose problems and threats to
the working of the life insurance sector.
4. Illiteracy and unemployment also pose threat.
5. Rising real estate industry also pose threat as people are
investing a bulk of their money over to that industry.

RESEARCH METHODOLOGY

Research: - is a process of collecting, analyzing, interpreting and

summarizing in a significant manner for the purpose of framing out
necessary conclusion and findings of data perceived and formulated
for deriving out the meaningful information. To carry our research
necessary telephonic calls needed to be done, suitable appointments
were to be fixed and therefore market survey is to be followed.

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Objective of training:- To understand life insurance and recruitment
of capable life insurance advisors for growth prospects.
Process: Methodology or process involving in the Research followed
during the course of summer training is as follows: -
a) Collection of data: - This is an important aspect in formulating
the objective of research process where the data is collected via
two process: - i) Primary Sources and ii) Secondary sources
i) Primary sources: - Where the data is collected primarily by
interviewing and personal observation and is original in nature
and accurate to the considerable extent.
ii) Secondary sources: -Where the data is obtained from some
published and printed sources such as newspaper, magazines,
websites and so on.
b) Analyzing of collected data: - The data collected through market
survey and published sources is then processed to obtained
necessary inferences and findings for the purpose of achieving the
objective as well as to derive necessary conclusion. A
considerable skill and knowledge is involved in analyzing the
data for the purpose of interpreting thereof.
c) Interpreting of data: - it is the significant step where the data
collected and analyzed is interpreted in the forms of graphs and
figures is depicted in the report called Project report.
d) Summarizing of data: - Thereby necessary summary is prepared
which is essential in the project report of the summer training
being done under an organization.
Helpful Arms of Research Methodology: -
Questionnaire is a set or group of questions being framed for the
purpose of obtaining market perspective about a particular aspect or
topic.
There are two types questionnaire bing carried necessary for the
market survey of the summer training being undertaken and put for
the by the trainee to the sample people taken as a base for entire
population:

25
 a) Open ended Questionnaire: - where the people (also called
respondents) are required freedom to present their views and
suggestions for the benefits and success of the organization.
b) Close ended questionnaire: - where the respondents is limited to
the choice of answer being delivered by the interviewer itself so
that quick and fast means of responses be derived out without
wasting much time. Here close ended questionnaire being
followed by meduring the course of the summer training market
survey.
Sampling: - Sampling is a process of obtaining a number of
individuals taken a base for the entire population since entire
population can not be asked about the necessary objective upon
which a questionnaire is put forth needed for the responses to be
derived for the purpose of generation of facts and customer view
point regarding their perception of particular product or services.
There are two type of sampling – i) Random Sampling and ii)
Systematic sampling.
i) Random sampling: - Random sampling is a process of
selecting the sample size randomly and no choice or
preference to be made about the selection of respondents for
the market survey and questionnaire to be put forth against
him. Here, Random sampling being adopted by me.
ii) Systematic sampling: - it is a sampling where the limited
number of selected respondents is figured out based on some
criteria so that only those respondents can be asked for the
purpose of filing questionnaire. Sample Size: -For 1to6 is 50
then is 150 respondents

DATA ANALYSIS AND INFERENCE

1. IS THE WORKING ENVIRONMENTGOOD ?

FEEDBACK BEFORE AFTER

RECRUITMENT RECRUITMENT
AVERAGE 16 18
GOOD 22 16

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 POOR 12 16
TOTAL 50 50

Analysis
The above table shows that out of 50 respondents 16 told that the working environment
before Recruitment is average and 22 said it was good and remaining 12 said it was poor
after Recruitment only 16 respondents said that working environment in the company is
good.

INFERENCE
It can be observed that working environment was good before Recruitment, but the
difference is not much.

2. IS THE JOBS ARE HAVING THE WORK LOAD ?

BEFORE
FEEDBACK AFTER RECRUITMENT
RECRUITMENT
HEAVY 26 29
NORMAL 24 21
TOTAL 50 50

ANALYSIS
The above table shows that out of 50 respondents 26 told that the workload before
Recruitment was heavy and 24said that it was normal.
After Recruitment 29 respondents said that workload in the company is heavy.

INFERENCE:
It can be observed that there is no much change workload after Recruitment

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3.THE SATISFACTION REGARDING WELFARE ACTIVITIES IS
CONSIDERD ?
FEEDBACK BEFORE AFTER
RECRUITMENT RECRUITMENT
YES 17 27
NO 33 23
TOTAL 50 50

ANALYSIS:
The above table shows that out of 50 respondents 17 were satisfied & 33 were not
satisfied regarding welfare activities before Recruitment.
After Recruitment 27 respondents said that they are satisfied and remaining are not
satisfied.

INFERENCE:
It can be observed that the satisfaction regarding the welfare activities is more after
Recruitment.46%of employees after Recruitment are satisfied.

4. TABLE SHOWING THE CHANGES IN TERMS OF AUTHORITY

& FREEDOM.
FEEDBACK NO. OF
RESPONDENTS
YES 39
NO 11
TOTAL 50

28
ANALYSIS:
The above table shows that out of 50 respondents 39 told that the authority & freedom is
changed.
Only 11 respondents said that authority and freedom in the company is changed.

INFERENCE:
It can be observed that there is a change in authority & freedom after Recruitment

5.TABLE SHOWING THE CHANGES IN SYMBOL OF STATUS:

FEEDBACK NO. OF
RESPONDENTS
YES 28
NO 22
TOTAL 50

29
ANALYSIS:
The above table shows that out of 50 respondents 28 told that the symbol of status is
changed. Only 22 respondents said that the symbol of status is not changed.
INFERENCE:
Regarding status symbol 44%of employees are felt that there is no change in it after
Recruitment.

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TABLE SHOWING EXTRA BENEFITS ENJOYED BY THE
EMPLOYEES AFTER RECRUITMENT
FEEDBACK NO. OF
RESPONDENTS
YES 32
NO 18
TOTAL 50

ANALYSIS:
The above table shows that out of 50 respondents 32 told that they are enjoying extra
benefits
Only 22 respondents said that they are not getting any extra benefits.
INFERENCE:
64% employees said that they are benefited with the Recruitment. It means Recruitment
brought some extra benefits to the major portion of the employees.

31
 RESPONDENT'S QUALIFICATION

10%

33% Post graduate

Graduate
Senior secondary

57%

When further enquired about the qualification of respondents, it was

found that 57% of the respondents were graduates, 33% were post
graduatesand remaining 10% were of higher secondary out of total
105 respondents. Further depicted in the following tabular
representation : -

Post graduate 35
Graduate 59
Senior secondary 11

32
 AGE QUALIFICAITON:

6%

20%
39% 18-25 age group
25 – 35 age group
35 – 45 age group
Above 45 age group

35%

Further, the age qualification for agency recruitment, it was found

that 39% respondents were belonging to 18 – 25 age group, 35%
were belonging to 25 – 35 age group where as 20% to 35 -45 age
group and remaining 6% to above 45 age group. Also depicted in the
following tale mentioned below: -

18-25 age group 41

25 – 35 age group 37
35 – 45 age group 21
Above 45 age group 6

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 CAUSES OF DISSATISFACTION

10%
23%
Low employment
16%
Low earning / income

Low status
17%
34% Huge capital investment

All of the above

Respondents had different views about the dissatisfaction from the

present status of working or occupation. Dissatisfaction has been
depicted in a table below and graphically above:

Low earning 3 1
Low employment 24 6 Huge capital investment 7

1
Low status 18 All of the above 0

34
 ABOUT CAREER IN LIFE INSURANCE

70
59
60
RESPONDENTS
50 46
40
NO. OF

30
20
10
0
Yes RESPONSES No

When asked about whether they would like to know about a glorified
career in life insurance agency where they can fulfill any and every
desire of their life, 59 respondents agreed while 46 respondents said
No and will see later sometime in future. It has been depicted that
life insurance sector should be promoted at the wide extent as it
contribute to the economy as a useful source beneficial for both
nation as well as is citizens.

35
 ACCEPT LIFE INSURANCE AS A CAREER?
50
41
40

RESPONDENTS 30 18
NO. OF

20

10

0
Yes No
RESPONSES

From the 59 respondents who agreed to know about the life

insurance as a career, 18 of them agreed to join HDFC Standard life
insurance for agency and come to the company fore more
information whereas 41 still took time to think and postponed to
some future date. People are highly dissatisfied from the earning,
status and living standard they are sustaining at present and would
definitely like to make some additional source of earning and for this
agency for life insurance would prove a boon.

36
37
 FINDINGS AND SUGGESTIONS

1- Candidates are less aware about recruitment in the private insurance

company in market.
2- HDFC is too selective in making a FC rather than to appoint any one
like LIC.
3- Candidates don’t want to join as financial consultant because it’s on
commission basis they want job on salary basis.
4- Candidates are joining HDFC the segment is more of tax consultant,
investment for consultant and other people who are engaged in
investment business that is because they want to diversify their
portfolio.
5- HDFC SLIC is having good retention strategies for their financial
consultant.
➢ Reason for not joining HDFC SLIC.
➢ Associated with an other company.
➢ Do not have time
➢ Low sales.
➢ Private Player.
➢ Lack of awareness.

38
SUGGESTIONS
Following are suggestions made for the benefits and augmentation of
the sound working of the company – HDFC Standard life insurance:
1. Need to train and develop life insurance agents with more
comprehensive knowledge and skills to counter every queries
of the customer.
2. It is suggested that company should not left any stone unturned
towards sound advertisement and promotional measures on
every section whether it is printed, media or or air via radio.
3. It is also suggested that skilled management graduates need to
be places on sales and marketing of financial servies who can
render their best ideas for the accomplishment of the company
goals and objectives to the best extent.
4. Also, care need to be taken that every customer’s grievance
should be met with delight whether before purchase or after
sales.
5. Customers should be made aware of the brand name of
Insurance company through advertisement.
6. The fear in the customer mind should be removed by company.

BIBLIOGRAPHY

Following are sources which helped me during my summer training:

39
 BOOKS:

➢ C.B.Mamoria – Personnel Management

➢ Arun Monoppa – Personnel Management

➢ T.V.Rao – Appraising and Development (Management Performance)

MAGAZINES:

India Today

Business World

REFERENCES

Websites: -

www.hdfcinsurance.com

www.irdaindia.org

www.liccouncil.org
www.google.com

QUESTIONNAIRE

Name: - ……………………………………………………………
Age:- ……………………………………………………………
Location: - ……………………………………………………………
Occupation: -……………………………………………………………

1. Is HDFC-SL insurance committed to equal opportunities, and

welcomes applications from suitably skilled candidates regardless of
ethnicity, gender, disability, sexuality, religion or age.

Was this apparent from the information you received?

Yes No
40
2. Did you look at our website for recruitment?

Yes No

3. Is the working environmentgood

Yes No

4. Is the jobs are having the work load ?

Yes No
5. The satisfaction regarding welfare activities is considerd ?
Yes No
6. Is there the changes in terms of authority & freedom.
Yes No
7. Is there changes in symbol of status
Yes No
8. Are extra benefits enjoyed by the employees after recruitment
Yes No

9. What is your qualification

10.Do you have the eligibility age
11.What dissatisfied you most in your occupation
Post graduate
Graduate
Senior secondary
12.Do you have the eligibility age
13.What dissatisfied you most in your occupation
18-25 age group
25 – 35 age group
35 – 45 age
group
Above 45 age group
14.What dissatisfied you most in your occupation
a) Low employment 
b) Low earning / income 
c) Low status 
41
 d) Huge capital investment 
e) All of the above 
15.Would you like to know about a career in life insurance advisor
ship where you can fulfill every desire of your life?
a) Yes 
b) No 
16.Would you like to become or opt for life insurance advisor under
esteemed and prospering organization HDFC Standard Life
insurance?
a) Yes 
b) No 
17.Is the give the post title of the job you were considering for applying ?

Yes No
18. Did you receive the information by post or electronically?

Yes No

19. If posted out to you, approximately how many days after you
requested the pack did you receive it (please tick as appropriate)?

a. 1 day 2 days 3 days 4

days or more

20. In your view, did you receive the pack quickly enough?

Yes No

21. Did you have enough time between receiving the application pack and
the closing date to review the information and to complete and submit
an application should you have wished to do so?

Yes No

42
 22. What attracted you the most initially (tick all that apply)?

Content of Job Hours of Work

Promotion Opportunity Salary

Size/Structure of Organisation Location

Other (please state)

23. Was there enough information included in the pack to enable you to
make an informed decision about whether or not to apply for this job?

Yes No

24.Did you find it useful having the interview date detailed in the advert?

Yes No Date was not included

25.What was your main reason for the applying for this post?

Yes No

Suggestions: -
1. ……………………………………………………………
2. ……………………………………………………………
3. ……………………………………………………………
4. ……………………………………………………………
5. ……………………………………………………………

HDFC STANDARD LIFE INSURANCE

43
44