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A PROJECT REPORT ON

In partial fulfillment of “STUDY OF RECRUITMENT & SELECTION POLICY IN IDBI FEDERAL LIFE INSURANCE CO. LTD.”

MASTER IN PERSONNEL MANAGEMENT Third Semester 2010-2012 SUBITTED TO UNIVERSITY OF PUNE

SUBMITTED BY ANURAG KUMAR
MATRIX BUSINESS SCHOOL S. NO. 9/1/5 & 9/2/4, OFF WESTERLY BYPASS ROAD, AMBEGAON (BK.), PUNE 411041
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DECLARATION

I, ANURAG KUMAR Roll No. 10 of Master in Personnel Management (MPM) Matrix Business School Pune the undersigned hereby declare that the Project Report entitled “ STUDY OF RECRUITMENT & SELECTION POLICY IN

IDBI FEDERAL LIFE INSURANCE CO. LTD. ” written and submitted by me
to the Matrix Business School Pune, in partial fulfillment of the requirements for the awards of Master in Personnel Management (MPM) under guidance of Pro. Amrita

Rath this is my original work and the conclusions drawn there in are based on the material collected by me.

Place: Date: ANURAG KUMAR

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The Matrix Educational Foundation’s

Matrix Business School
S. No. 9/1/5 & 9/2/4, Off Westerly Bypass Road, Ambegaon (Bk.), Pune 411041. Tel.: 24356637/39
____________________________________________________________________________________________________________________________________________________________

GUIDE-CERTIFICATE

This is to certify that the Project Report entitled “STUDY OF RECRUITMENT

& SELECTION POLICY IN IDBI FEDERAL LIFE INSURANCE CO.
LTD. ” which is being submitted here with for the award of POST GRADUATE DIPLOMA IN MANAGEMENT of Matrix Business School Pune in the session year (2010-12) is the result of the original research work completed by Mr. Anurag Kumar under my supervision and guidance and to the best of my knowledge and belief the work embodied in this Project Report has not formed earlier the basis for the award of any degree or similar title of this or any other University or examining body. Director: Dr. J. N. POL Project Guide : Prof. Amrita Rath

Date: Place: Pune

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COMPANY

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ACKNOWLEDGEMENT
I take great pleasure to thank and acknowledgement the permission and allowance by Mr. KRUPAL BHANSALI, BRANCH HEAD, IDBI FEDERAL LIFE

INSURANCE CO. LTD, PUNE REGION and his help and inspiration provided. I extend a whole hearted thanks to .Mr. DEEPAK GOVITRIKAR., AREA AGENCY HEAD under whom I worked and learned a lot and for enlightening me with their knowledge and experience to grow with the corporate working.

Their guidance at every stage of the Project enabled me to successfully complete this project which otherwise would not have been possible without their constant encouragement and motivation, without the support it was not possible for me to complete the report with fullest endeavor.

I would also like to extend my thanks to my College Faculty Member Mrs. Amrita Rath. I would like to extend my thanks to my college director Dr. J.N. Pol and all my Colleagues in the company who supported me in carry out my operation successfully and generously and provided me vital information/ training regarding the my project objective.

ANURAG KUMAR

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TABLE OF CONTENT
Contents

Sr. No. 1 2

Titles Executive Summary Objective of the study, Title of the projects

Page No.
8 9-10

3 4

Profile of the Company Research Methodology

11-25 31-34

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Data presentation, Analysis & Interpretation

35-45

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Findings And Suggestions

46-49

7

Conclusion

50

8

Annexure

51-53

A) Questionnaire B) Bibliography

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Chapter 1

Executive Summary

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Executive Summary
In today’s corporate and competitive world, I find that insurance sector has the maximum growth potential as compared to the other sectors. Insurance has the maximum growth rate of 70-80% while as FMCG sector has maximum 12-15% of growth rate. Despite recession this sector has noticed a growth rate of around 35-40%. The growth potential attracts individuals to enter this sector and IDBI-Federal Life Insurance Company Ltd has given me the opportunity to get a peek of highly competitive and enhancing sector. The awareness related to life insurance products in India, among the mass, is still very low. The level is even lower in rural areas. Insurance is still considered as a tool for tax planning only, even when companies have attached investment benefits to it. The major factors affecting the purchase of an insurance product are trust, service, product features and relationship with advisors. Firms like LIC are still favored only because of being a government undertaking units. The concept of mis-selling has paralyzed the sector itself. People find it hard to have faith in advisors. Their job is really very hard. People are now getting aware of the various investment tools available in the market. The masses in urban cities like Pune have started comparing the products. While talking to different people, I found that their purchase decision was highly influenced by their family and colleagues. They purchased the insurance products at the time when they needed it most, which according to them was at the time of tax planning, whereas any insurance product must be bought when the individual needs it least so that they can actually calculate the amount of life cover they need and the type of investment they want. They can spread awareness by organizing various camps, sending mails or

through free counseling for interested people.
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Chapter 2

OBJECTIVE OF THE STUDY

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Chapter 2 OBJECTIVE OF THE STUDY
TITLE OF THE PROJECT The project report titled “STUDY OF RECRUITMENT & SELECTION POLICY IN IDBI FEDERAL LIFE INSURANCE CO. LTD.” has potential of further analysis.

OBJECTIVES OF THE STUDY

 To study the “recruitment and selection policy followed in IDBI Federal Life insurance company Ltd.  To study the various sources of recruitment followed in IDBI.

 To learn what is the process of recruitment and selection that should be followed.

 To search or headhunt people whose skills fits into the company values.

 To induct outside with new perspective to lead the company.

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SCOPE OF THE STUDY

 In this competitive world retaining the customers has become important part and parcel of the business activity, since in this arena the people who adopt to changes and new technologies will survive.  This study will help to understand customer need, preference and what they require from the service station and this study will not only help me as a student but it will also the IDBI FEDERAL LIFE INSURANCE COMPANY LIMITED to improve its service standard.

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Chapter 3

COMPANY PROFILE
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Chapter 3
COMPANY PROFILE
The project report titled “STUDY OF RECRUITMENT & SELECTION

POLICY IN IDBI FEDERAL LIFE INSURANCE CO. LTD.”

History:
Type Joint Venture

Industry Life insurance Founded March 2008 Headquarters Headquaters in Mumbai India Key people Yogesh Agarwal, Chairman

G V Nageswara Rao, MD & CEO. Products Individual Life Insurance, Group Insurance and Pension Plans Employees 1,000 on-roll employees and 7,500 agents Website Official Website.

Company Information
Full name IDBI Federal Life Insurance Co Ltd. Legal Address 1st Floor, Trade view Building, Oasis Complex, Kamala City, Pandurang Budhkar Marg, Lower Parel ( W ); Mumbai; Maharashtra; 400013
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Status: Non-Listed Legal Form: Other non-liability limited Operational Status: Operational Financial Auditors: Dass Gupta & Associates (2010) Tel: +91 22 2490 8109-10

Company Description:
IDBI Fortis Life Insurance Co Ltd, is a joint venture between three leading financial conglomerates – India’s premier development and commercial bank, IDBI, India’s leading private sector bank, Federal Bank and Europe’s premier Bank assurer, Fortis, each of which enjoys a significant status in their respective business segments. In this venture, IDBI owns 48% equity while Federal Bank and Fortis own 26% equity each. IDBI Fortis launched its first set of products across India in.

Product of the Company:
1 BONDSURANCE Get guaranteed return on your investment with life insurance IDBI Federal Bondsurance Plan is designed for customers looking for guaranteed returns which will not get affected by financial market conditions. It offers guaranteed return on investment along with life insurance cover. Investment in this Plan is eligible for deduction under Sec 80C of the Income Tax Act and the maturity amount is tax-free under Sec 10(10D) of the Income Tax Act.

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If you are looking for a safe and steady approach to meet your dreams, you need a plan that will give you steady and assured returns that are not dependant on market conditions. IDBI Federal Bondsurance Plan is the ideal plan to beat the ups and downs around you.

2 WEALTHSURANCE Wealthsurance plans combine wealth creation with insurance protection into one powerful financial solution. Unlike other investment alternatives, it allows you to ensure that your goals of wealth creation are achieved even in the event of serious illness, accidents, disablement or death. Insured Wealth Plans to grow wealth under a protective cover Wealthsurance offers you Insured Wealth Plans. They allow you to create, build and manage wealth by giving several choices and great flexibility so that your plan meets your specific needs. You can decide how you wish to save so that it suits your savings habit. You can choose how your money is invested so that you can grow wealth as per your investment preferences. What is even better, Wealthsurance protects your wealth plans with life insurance benefits so that your wealth-building efforts remain unaffected in unforeseen events and your financial goals can still be achieved. As a seasoned investor, you recognise the ability of the equity markets to build wealth over the long term. But you also appreciate the fact that the growth potential of the market comes with the accompanying risk of volatility…

HOMESURANCE

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Your new home is the fulfillment of a long-cherished dream. Only you know the careful planning that went into its choice. And only you understand the hard work that went into arranging the financing including the home loan. Truly, your home is your best gift to your family. Just imagine what would happen, if due to an unfortunate event, you were not around. The entire burden of your home loan would have to be borne by your family. But you can ensure that they inherit a home and not a home loan. We understand the importance of protecting your home loan and the powerful IDBI Federal Homesurance Protection Plan can help you insure your home loan at a reasonable cost. TERMSURANCE Happiness & security for our family is something all of us strive to achieve. However, there are times when you ask yourself - What if something were to happen to me? What would happen to my loved ones? Have I secured my family financially so that they don’t have to face life’s burdens? Different people have different needs and seek different things from an insurance plan. Some look for a large cover option at a low cost, while others seek return of premium on maturity of the policy. There are some who may want their plan to keep in touch with inflation, while others may seek flexible premium payment options. INCOMESURANCE Grow your Guaranteed Annual Income each time you pay premium Some goals cannot be left to chance. Like educating your child, or planning for her marriage, or providing financial security to a loved one, or ensuring a comfortable retirement income. Or you may just want to ensure a future additional income stream.

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How can you be confident of achieving these goals? 1. You need a plan that allows you to save regularly to reach your objective 2. You want the plan to give you assured income payments that are not dependent upon vagaries such as the stock market

3. You want the plan to work and your goals to be achieved even if anything happens to you A cover for all your needs Independent regular income for your wife You can ensure that your wife is secured with an independent income. You can also ensure that no one, including creditors or claimants, can touch that money. Financial security for your parents What better gift can you give your parents when you start earning yourself? You can gift them a secure, regular income to ensure a comfortable life. Regular income payments can help them enjoy their senior years doing things they had always wanted to but never found the time for. Child's Education You can save regularly and get guaranteed payouts to meet your child's education. You can be rest assured that your goal will be achieved even if anything were to happen to you.

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Daughter’s Marriage

You can withdraw your guaranteed income when the time

comes for marriage. You can meet the wedding expenses or give her a regular income. It is the best present you can give when she is setting up her home. Get additional income from time to time Over and above your normal income, IDBI Federal Incomesuranc Endowment & Money Back Plan can help you get additional income from time to time. You can indulge in a purchase of your choice, take a vacation or just gift it to your loved ones, the choice is yours. At the same time, you can also ensure life insurance protection for your family's security. RETIRESURANCE It is difficult to predict the future but with more of us living longer, the possibility of outliving our savings could become a harsh reality. In fact, you could easily spend almost 20-25% of your life in retirement. This is the time in your life when you will face the retirement challenge. As time goes by, your responsibilities grow as well, increasing your expenses. Also let’s not forget the effect of inflation. Inflation increases the cost of living. Take the following increases in basic amenities over the last 20 years and you can understand what you could be up against after 20 years.

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These are approximate rates based on market sources and are presented for illustrative purposes only But when is a good time to start planning for retirement? The answer is as soon as you can. It is never too early to plan ahead for something as important as a comfortable retirement. The earlier you start, bigger your corpus or your retirement. LOANSURANCE Loansurance is a cost-effective way to ensure that the outstanding debt is settled in the unfortunate event of death of the insured member. This term assurance plan provides cover to a person directly liable for loan repayment (and the partners, in case of a partnership), as per the benefit schedule. Reducing cover Under this option, your insurance cover reduces as per your benefit schedule. The benefit schedule is computed over a period of time, taking into account initial loan interest rate, the loan term and outstanding loan amount. Level Cover The level cover option of Loansurance provides a cover for the sum insured as specified by the insured member and can be to the extent of the full agreed loan amount plus accrued interest as chosen by the insured member.

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Chapter 4

Literature Review

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Chapter 4 Literature Review

MEANING OF HUMAN RESORCE MANAGEMENT

Human Resource plays a crucial role in the development process of the modern economics.

“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”
ARTHUR LEWIS Human resource management is the management of employee’s 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 widely, the basic nature of distinction lies in the scope or coverage and evolutionary stage. In simple since, human resource management means employing people, developing their resources, utilizing, maintaining and compensating their services in tune with the job and organizational requirements.

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Recruitment Policy:

Recruitment Procedure overview

Manpower Requisition Form

Recruitment Plan

Budget

Sourcing

Selection Process

Joining

Post Recruitment Data Updating

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Recruitment:

Recruitment is “hiring” of employees from outside. Recruitment has been regarded as the most important function of the HR department , because unless the right type of people are hired, even the best plans, organization chart and control system would not do much good.

Recruitment is the discovering of potential applicant for actual or anticipated organizational vacancies. Accordingly the purpose of recruitment is to locate sources of manpower to meet the job requirements and job specification. It is defined as „ a process to discover the sources of manpower to meet the requirements of staffing schedule and to apply effective measures for attracting the manpower to adequate number to facilitate effective selection of an effective workforce‟

Yoder points out that recruitment is a process to discover the sources of manpower to meet the requirement of the staffing schedule and to employee effective measures to attracting that manpower in adequate number to facilitate effective selection of an effective workforce. Edwin B Flippo defines recruitment as „the process of searching for prospective employees and stimulating them to apply for the jobs in the organization.‟ “It is the process of finding and attracting capable applicants for employment. The process begins when new recruits are sought and ends when their application are submitted. The result is a pool of applicants from which new employees are selected.”

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Methods of Recruitment
Dunn and Stephens summaries the possible recruiting methods into three categories, namely

1: Direct method 2: Indirect method 3: Third party method

DIRECT METHOD

The direct method includes sending of the recruiters to different educational and professional institutions, employees contact with public, and mannered exhibits. One of the widely used methods is sending the recruiters to different colleges and technical schools. This is mainly done with the cooperation of the placement office of the college. Sometimes, firms directly solicit information form the concerned professors about student with an outstanding records. Other direct methods include sending recruiters to conventions and seminars, setting up exhibits at fairs, and using mobile offices to go the desired centers.

INDIRECT METHOD Indirect method involves mainly advertising in newspapers, on the radios, in trade and professional journals, technical magazines and brochures.

Local newspaper can be good sources of blue collar workers, clerical employees, and lower level administrative employees. The main point is that the higher the position in the organization the more dispersed advertisement is likely to be. The search for the top executive might include advertisement in a national periodical, whereas the advertisement of the blue color jobs usually confine to the daily newspaper.

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According to the Advertisement tactic and strategy in personnel Recruitment, three main points need to be borne in the mind before an advertisement in inserted. First, to visualize the type of applicants one is trying to recruit. Second, to write out a list of advantages the company offers, or why should the reader join the company. Third, to decide where to run the advertisement , not only in which area, but also in which newspaper having a local, state or a nation- wide circulation.

THRID PARTY These include the use of commercial or private employment agencies, state agencies, and placement offices of schools colleges and professional associations recruiting firms, management consulting firms, indoctrination seminars for college professors, and friends and relatives. Private employment agencies are the most widely used sources. They charge a small fee from the applicant. They specialize in specific occupation; general office help, salesmen, technical workers, accountant, computer staff, engineers and executives.

Schools and colleges offer opportunities for recruiting their student. They operate placement services where complete bidet and other particular of the student are available.

Professional organization or recruiting firms maintain complete information records about employed executive. These firms maintain complete information records about employed executives. These firms are looked upon as the „head hunters‟ , „raiders‟, and „pirates‟ by organization which loose their personnel through their efforts.

Evaluation of the recruitment method
The following are the evaluation of the recruitment method 1: Number of initial enquires received which resulted in completed application forms 2: Number of candidates recruited.
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3: Number of candidates retained in the organization after six months. 4: Number of candidates at various stages of the recruitment and selection process, especially those short listed.

MY JOB AT IDBI FEDERAL LIFE INSURANCE
I started my job as HR Trainee. My job profile was to handle RECRUITMENT in my project. The senior sales manager narrated me the whole procedure. My job profile was to generate resumes from the various job sites such as Naukri.com, Timesjobs.com etc. according to the requirements of the company. After generating the resumes from the sites the next step is to shortlist the resume which best suite the requirements.

Now the short-listed candidates have to be given a phone call in order to find out their interests and schedule them for interview. There are 2 forms of interview that a candidate can appear for:  Personal Interview.  Telephonic Interview.

PERSONAL INTERVIEW
This is regarded to be the BEST FORM of interview. In such form of an interview the candidate personally appears in front of the interviewer and gives his interview. This is regarded to be the best form of interview as the interviewee has the best chances of making his points clear in front of the interviewer.

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TELEPHONIC INTERVIEW Sometimes an interview is taken on the phone. A telephonic conversation is done between the interviewer and the interviewee where the interviewer calls up the candidate via phone and conducts the interview

The Job profile
Selling insurance and building customer relations.

Qualification

Entry level opening:
Graduates in any stream preferred can be. 10th or 12th standard pass, according to the irda stipulation, depending on region of operation. Additional communication skills and ability to interact with people will help.

Middle level opening:
Professional in finance or marketing with the experience in service industry. (As asst sales manager)

Senior sales openings:
Senior professional with experience of handling junior staff preferred (CEP/Senior consultant

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Chapter 5

RESEARCH METHODOLOGY

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Chapter 4
RESEARCH METHODOLOGY

Business research is a systematic enquiry that provides information to guide business decision and aimed to solve managerial problems. Business research is of recent origin and it is largely supported by business organizations that hopes to achieve competitive advantages Research Methodology i s a w a y t o s y s t e m a t i c a l l y s o l v e t h e p r o b l e m s . I t m a y b e understood as a science of studying how research is done scientifically. It include the overall research design, the sampling procedure, data collection method and analysis procedure.

DESCRIPTIVE RESEARCH

Descriptive research study includes surveys and fact-finding enquires of different kinds, which help the researchers to describe the present situation that makes the analysis about15

the effectiveness of employee satisfaction among the employees and helps to reach the objective.

SAMPLING DESIGN/TECHNIQUES:

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Sampling design is to clearly define set of objective, technically called the universe to bestudied. This research has infinite set of universe and the sampling design used in the study is non-probability sampling – convenience sampling.

SAMPLE UNIT/SAMPLE SIZE:

The item selected from the population constitutes the sample size. The study covers the customers of IDBI federal life insurance company. Total sample size for the study is 50.

LIMITATIONS OF THE STUDY

This study was conducted with less sample size due to time constrainta n d t h e
s u r v e y w a s c o n d u c t e d o n l y i n P u n e , s o t h e r e s e a r c h findings may not

be generalized.

Some of the customers are reluctant to give full information, this leads to bias & may not reflect the true picture.

The observations are only based on current scenario, as it c o u l d change in future.

RESEARCH PROCESS The research process has four distinct yet interrelated steps for research analysis it has a logical and hierarchical ordering:
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 Determination of information research problem.  Development of appropriate research design.  Execution of research design.  Communication of results. Each step is viewed as a separate process that includes a combination of task, step and specific procedure. The steps undertake are logical, objective, systematic, reliable, valid, impersonal and ongoing.

SAMPLE SIZE: The sample size was: 50 respondents. I have targeted 50 customer in the age group above 21 years for the purpose of the research. The target population influences the sample size. The target population represents the Pune City regions. The people were from different professional backgrounds. The details of our sample are explained in chapter named primary research where the divisions are explained in demographics section.

3.2 Sources Data Collection Methods:

Primary Data:
Primary data was collected through survey method by distributing questionnaires to branch manager and other sales manager. The questionnaires were carefully designed by taking into account the parameters of my study.

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Secondary Data:
Data was collected from books, magazines, web sites, going through the records of the organisation, etc. It is the data which has been collected by individual or someone else for the purpose of other than those of our particular research study. SAMPLING PLAN:Sampling Size: Unit was also 50 respondents of IDBI Federal Life Insurance Company Limited. Work area: Pune City In Karve Road, Deccan, Kothrud Areas

Sampling type: Cluster sampling Sampling unit: Individual owners of Insurance Company Sample Technique: Stratified random sampling .

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Chapter 4

Data Interpretation &Analysis

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Chapter 4 Data presentation, Analysis & Interpretation

Q 1. What form of interview did you prefer?
Factor No. of Respondent
20 15 10 5 50

(%. of Respondent )
40% 30% 20% 10% 100%

Personal Interviews Telephonic interview Video Conferencing Other Total

Interview Prefer
Personal Interviews Telephonic Interview Video Confrencing Other

10% 20% 40%

30%

Interpretation:
40% most of the people Prefer Personal interviews, 30% prefer to take telephonic interviews where as only 20% go for video conferencing and rest 10% adopt some other means of interviews.

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Q 2 How do you rate the HR practices of the company?

Factor Very Good Good Average Bad Total

No. of Respondent 23 15 7 5 50

(%. of Respondent ) 46% 30% 14% 10% 100%

Rate the HR practices of the company
Average 14% Bad 10% Very Good 46% Good 30%

Interpretation:
30% of the respondents feel that HR department is good where and 46% say that its very good where as 14% says its average and only 10% respondents feel it’s bad.

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Q3 How is the induction carried out by the IDBI Federal?

Factor Good Very good Can’t say Total

No. of Respondent

(%. of Respondent )

18 27 5 50

36% 54% 10% 100%

Rating for induction

Can’t say, 10

Good , 36

Very good, 54

Interpretation:
From the above chart it shows that the 54% respondents say very good, 36% respondents say good and 10% respondents say can’t say for induction carry out from IDBI Federal.

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Q 4 What are the sources do you preferred for recruitment and selection?

Factor Internal External Both Total

No. of Respondent

(%. of Respondent )

6 13 31 50

12% 26% 62% 100%

Sources for Recruitment and Selection
Internal 12% External 26%

Both 62%

Interpretation:
About 62% of the respondents say that they prefer both internal as well as external source for recruitment and selection where as only 12% go for internal source and 26% go for external sources.
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Q 5 Which method do you mostly prefer for recruitment and selection?

Factor Direct Indirect Third Party Total

No. of Respondent

(%. of Respondent )

33 15 2 50

66% 30% 4% 100%

Mostly Prefer for Recruitment and Selection Method
70 60 50 40 30 20 10 0 Direct Indirect Third Party Third Party, 4 Indirect, 30 Direct, 66

Interpretation:
About 66% of the respondents go for direct recruitment and selection and 30% go for Indirect and only 4 % go for third party recruitment way.

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Q 6 When do you prefer to go for manpower planning recruitment? Factor Yearly Quarterly No fixed Time Total
No. of Respondent (%. of Respondent )

10 25 15 50

20% 50% 30% 100%

Prefer to go for Manpower planning
60 50 40 30 20 10 0 Yearly No fixed time Quaterly Prefer to go for Manpower planning

Interpretation:
In the above chart it shows that 50% of the respondents prefer for Quarterly manpower planning and 30 % do not follow any pattern they don’t have any fixed time where as 20% go for yearly.

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Q 7 Are you satisfied by the services provided by the IDBI Federal Life Insurance?

Factor Satisfied Very Much Satisfied Not Satisfied Total

No. of Respondent

(%. of Respondent )

7 40 3 50

14% 80% 6% 100%

Satisfied by the services
90 80 70 60 50 40 30 20 10 0 15 5 Satisfied Very Much Not Satisfied Satisfied Satisfied by the services 80

Interpretation:
The study reveals that in IDBI 80% of the respondents are very much satisfied & 14% are satisfied & 6% of the employees are not satisfied from services provided.

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Q 8. Computer facility is provided to all the employees of the recruitment department?

Factor Satisfied Not Satisfied Can’t say Total

No. of Respondent

(%. of Respondent )

45 3 2 50

90% 6% 4% 100%

Computer Facility
Satisfied 6% Not Satisfied 4% 0% Can’t say

90%

Interpretation:

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The study reveals that in IDBI 90% of the respondents preferred computer facility it provided to all the employee of this department. 6% of the respondents are satisfied and 4% of the respondents are not satisfied from this facility.
Q 9. The recruitment and selection procedures support internal control of IDBI Federal Life Insurance.

Factor Yes No Total

No. of Respondent

(%. of Respondent )

42 8 50

84% 16% 100%

Internal Control
YES NO

16%

84%

Interpretation:

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From the above chart it shows that 84% of the respondents say yes and 16% of the respondents say no for recruitment and selection procedures support internal control

Q10. What are the sources for external recruitment are preferred?
Sources
Campus interview

No. of Respondents 17 17 12 4 50

% of Respondents 34% 34% 24% 8 100%

Placement Agencies Data bank Causal Applicants Total

sources for external recruitment
Casual applicants, 8 Data bank, 24 Campus interviews, 34

Placement agencies, 34

Interpretation:

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From the above chart it shows that 34% of the respondents say campus interview, again 34% say placement agencies, 24% of the respondents say data bank and 8% of the respondents say casual applicants .

Chapter 5

Findings and Suggestions
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Chapter 5 Findings and Suggestions

FINDINGS:

From the above analysis of IDBI Federal I found that  40%most of customer prefer personal interview, 30% prefer to take telephonic interviews where as 20 % go for video conferencing and rest 10% adopt some other means.  The study reveals that in IDBI 30% of the people feel the HR department is good and 45%say that it’s very good.  The study reveals that 61% of the recruitment policy and procedures support internal control.  It is founded that 66% of the people prefer direct recruitment.  In IDBI Federal 32% managers go for campus interviews and 40%go for placement agencies.
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 80% of the adequate satisfied with IDBI service .  61% of the managers they preferred internal source of recruitment.  Now 50% of the people go for quarterly manpower planning. And 20% do not follow any pattern.  From the above study I found that 90% of the computer facility is provided to the employees.  Only 40% of the customer satisfied with carrer in insurance advisor ship.

SUGGESTIONS:

Following are suggestions made for the benefits and augmentation of the sound working of the. Company - IDBI Federal Life Insurance Co. Ltd.:  The work of receiving, issuing, accounting and stoiing responisibilty should be properly.  Segeregated so that it will increase the productivity of the organization.  All the documents should be verified timely by the operation department.  All the policies should be updated time to time according to the company's requirement.  Proper trainer should be provided to the trainees.

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 Friendly atmosphere should be there by proper interaction and activities.

CONCLUSION

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CONCLUSION
Summer training is a best example for a trainee to learn about the company working, corporate culture under which he is operating the functions. IDBI Federal Life Insurance Co. Ltd. is a life insurance company under which I gained a significant knowledge with respect to life insurance, its importance and applicability as well as undertook the task to recriuit Insurance Advisors which is conductive for the company to grow with more prosperity. What I taught in the management institute utilized them fiuitfully leading to the best advantage to the company and to the best experience for mine. At far I can conclude that life insurance is a noble service. which is very important for every citizen to leain and realize its importance because this is the

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only source which can remain the status where one is with the family bread eainer and ever when he is not. With the growing financial sector I would like to choose this industry for my future career advancement and as an opportunity to service this industry.

QUESTIONNAIRE ANNEXURE
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QUESTIONNAIRE ANNEXURE

a) Name ………………….. c) Age ……………………..

b) Occupation ……………………………….. d) Income…………………………………….

e) Address:-………………………………………………………………………….

Q 1. What form of interview did you prefer? A) Personal Interviews B) Telephonic interview C) Video Conferencing D) Other

Q 2 How do you rate the HR practices of the company? A) Very Good B) Good C) Average D) Bad
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Q3 How is the induction carried out by the IDBI Federal?
A) Very Good B) Good C) Can’t Say

Q 4 What are the sources for recruitment and selection? A) Internal B) External C) Both

Q 5 Which method do you mostly prefer for recruitment and selection Preferred way of recruitment ?

A) Direct B) Indirect C) Third Party Q 6 When do you prefer to go for manpower planning ? A) Yearly B) Quarterly C) No fixed Time

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Q 7 Are you satisfied by the services provided by the IDBI Federal Life Insurance? A) Satisfied B) Very Much Satisfied C) Not Satisfied Q 8. Computer facility is provided to all the employees of the recruitment department? A) Satisfied B) Not Satisfied C) Can’t Say Q 9 The recruitment and selection procedures support internal control of IDBI Federal Life Insurance. A) Yes B) No Q 10 What are the sources for external recruitment are. A) Campus interviews B) Placement agencies C) Data bank D) Casual applicants

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BIBLIOGRAPH

BIBLIOGRAPHY
WEB SITES:
www.idbi federal.com www.scribd.com www.google.com

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www.indiaindustry.com

1. MARKETING RESEARCH - TULL AND HAWKINS MARKETING MANAGEMENT- PHILIP KOTLER COMPANY MAGZINES AND MANUALS

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