Professional Documents
Culture Documents
A Study On Recruitment For Recruiting Financial Advisors
A Study On Recruitment For Recruiting Financial Advisors
________________________________________________________________________
CONTENTS
2. Chapter – II
- Organization Profile 32 to 43
- Organization Chart 44 to 44
- Sampling 45 to 45
- Data Collection Methods 45 to 45
- Measuring Tools 45 to 45
3. Chapter – III
- Results & Discussions with Graphs & Charts 47 to 55
- Summary, Conclusion & a Proposed Action 56 to 61
Plan with Resource Requirements & Projected
Benefits to the Organization
4. Chapter – IV
- Appendix
-Questionnaire 63 to 66
- Bibliography 67 to 67
- Weekly Progress Report 68 to 76
CONTENTS
- Executive Summary
- Introduction
- Literature review
- Objectives
EXECUTIVE SUMMARY
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier
financial powerhouse and Prudential plc, a leading international financial services group
headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector
insurance companies to begin operations in December 2000 after receiving approval from
Insurance Regulatory Development Authority (IRDA). ICICI Prudential in order to expand its
market and to cover the whole of insurance market keeps on recruiting Financial Advisors. In
this project I recommended few effective methods of recruitment which I implemented them as a
Recruitment officer in ICICI Prudential Life Insurance Company Ltd at the time of my summer
in plant training. This project emphasizes on, “Recruitment for recruiting Financial Advisors at
Main Objectives
“To develop effective and practical methods of recruitment for recruiting Financial
Advisors”
Sub Objectives:
To find out the most potential segment, based on age, education, and occupation
To find out the most important factors considered by the candidates while joining
Limitations:
Not single work is exception to the limitation every work every work has got its
Research Methodology:
Secondary data-Internet
Observations:
o From the survey made on 50 candidates who were newly recruited, 66% of the
segment age wise is 18-25 with 60%, followed by 38% lying in between the age
category of 25-35.
o On the basis of education I found that the most potential segment education wise
o Findings also showed that 48% of the candidates which were recruited were
o It was also found that 38% of the candidates which were recruited joined this job
o Findings showed that 94% of the candidates opted for online training and 6% of
before applying for job followed by growth opportunities as the second highest
factor.
Introduction
Success begins with hiring. Getting the right person for the right job at the right time helps us to
build a winning team and this starts with effective recruitment. Once the required number and the
kind of human resources are determined, the management needs to find the places where
required human resources will be available and also find the means of attracting them towards
It is becoming very difficult to get the right type of employees these days. Recruitment
refers to the process of searching for the prospective candidates and stimulating them to apply
for the jobs. It refers to the process of acquiring applicants who are available and qualified to fill
positions in the organization. The basic goal of recruitment is to locate, at the least cost, qualified
Recruitment is the process during which potential employees are attracted, informed and
oriented about the organization and thereby motivated to make themselves available for vacant
Recruitment goes further than informing people of a vacancy. It has to attract those that
meet the general criteria of the organization as well as the criteria qualified for the
vacancy.
Motivation
During recruitment, a person should be motivated to go further than just take note of the
Because the organization has vacancy, the recruitment originates from the organization.
The applicant has to accept the employment before the recruitment process can be seen as
It takes careful planning and consideration to recruit successfully. When you fill a
vacant or new position you have an opportunity to reflect on the work to be done, the need
for change and what new skills might be required in the future.
When planning to recruit, we need to consider how we will schedule the various
recruitment and selection tasks. You also need to make some important decisions about the
position and complete certain tasks before you can get approval to recruit. This process starts
when vacancies are available and the management decides to fill them through suitable
recruitment procedures. This will be later followed by selection procedure, which is concerned
Functional definition:
caused by particular risk over a number of persons who were exposed to it and who agree
Contractual Definition:
contingency.
According to the U.S Life Office Management Association Inc (LOMA), Life
Insurance is defined as follows: Life insurance provides a sum of money if the person
Agent: The authorized representative of the insurer, licensed by the concerned authorities
Bonus: The yearly share of policy holders profit declared by the company based on its
profits which gets added to the policy amount and is payable upon its maturity.
Claim: The amount entitled to the policy holder or his nominee/assignee under a policy
Insurable Interest: Evidence suggesting financial losses due to the occurrence of the
Policy: The evidence of contract between the insurer and the insured. A stamped sealed
and signed document issued by the insurer to the insured in proof of insuring his life.
Premium: The amount mentioned in the policy contract to be paid by the insurer
1. Life Insurance:
Human lives are insured under life insurance. A Life Insurance is a combination
of savings as well as security element. The insured is assured that the insurance
company will pay his family the insured amount in the case of premature death. Is
he is alive and the policy matures for payment, the savings so made will be
helpful in his old age. Only the Life Insurance Corporation of India transacts life
2. General Insurance:
All insurance other than Life Insurance fall under General Insurance. Only the
India.
o Marine Insurance:-
The marine insurance is the oldest form of insurance and covers all the
marine perils. Due to marine perils, the ship can be damaged or destroyed,
cargo can be lost and consequently there can be lost of freight. Therefore,
the marine insurance covers the risk to ship, cargo, and freight on the high
seas.
o Fire Insurance:
The fire insurance covers the risk of fire to property because there is every
house shops and ships. The fire insurance not only covers the risk of fire,
o Liability Insurance:-
The Liability insurance includes the risk of liability towards third parties
o Social Insurance:-
The social insurance is meant to protect and uplift the weaker section of
the society and may be in different forms like pension plans, disability
In India insurance is in practice since 12 th century as per the records. The first life
insurance company to operate in India the Oriental Life Insurance company was
established in 1818 in Calcutta. However it was a British company. The first Indian
Insurance company, the Bombay Mutual Life Assurance Society started its operation in
1871. The Indian Life Insurance company Act was passed in 1928.Subsequently, both of
these Acts were merged and the insurance Act 1938 was promulgated.
Independent India amended the Insurance Act in 1950 and in 1956, the then fiancé
minister of the nation Mr. C D Deshmukh nationalized all insurance companies, 154
Indian Insurance companies and 75 provident societies. Finally the life insurance
pioneered the general Insurance way back in 1688, the first non-life Insurance Company
to set up shop in India was the Triton Insurance company of Calcutta. In 1907 the first
Indian general insurer the Indian Mercantile insurance company started its operations.
The New India Assurance Company Limited was incorporated in 1919. After
independence the India Reinsurance Corporation was set up in 1956 and in 1957 the
office of the controller of the insurance was constituted. In 1968, that tariff advisory
committee was set up to regulate the investment of the players and finally in 1972, the
non-life insurance business in the country was nationalized and the general insurance
company was formed as holding company with four subsidiaries, the National Insurance,
Oriental Insurance, United India Insurance and the new India Assurance Company
Limited. In the same year the National Insurance Company Limited was amalgamated
with 22 foreign and 11 Indian Insurance companies. Thus over a period of two centuries,
the Indian insurance industry has gone through the full circle. From being an open
competitive market, it went through nationalization and has been subsequently liberalized
again. Keeping in mind the national economic and commercial objective of India the
government has set up IRDA on 7th December 1999. Through which the reforms process
Insurance industry is one of the corner stone of any economy and financial System.
Insurance industry contributes its major part in increasing the saving and the fund
The Financial sector in our country is in the process of change with the objective
o the overall growth of the economy. The insurance sector as every one knows,
constitutes a very important and vital financial intermediary for the growth of the
economy.
Insurance has become part and parcel of the financial system because it:
It is said “Every rupee invested in insurance contributes thrice the amount in the
economic development.
Life Insurance is one of the most common forms of insurance. It has acquired top
“Life insurance is a contract fare by the insured promised to pay a uniform rate premium
of fixed intervals of time against which the insurer agrees to pay a fixed amount on the
happening of the event which may be the death of the insured on the expiry of certain
number of years”.
Life insurance is brought not because someone is going to die, but because
Life insurance promises payment of the full sum assured from the moment the
In most cases life insurance possesses a cash value after the first three years.
Belgaum Institute of Management Studies
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“A Study on Recruitment for recruiting Financial Advisors”
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Life insurance removes the worry of looking after your savings. Experts safely
India.
Life insurance is free from loss, from theft, fire, misplacement etc.
A life insurance contract is one sided, i.e., always in favour of the insured and his
family. One can withdraw from the contract anytime, but the company’s cannot.
Life insurance replaces uncertainty with certainty. It provide a complete, balanced and
perfect hedge against economic threats, which confront all person, the danger of living
Suppose there are 1000 person all aged 35 years and healthy lives. They are insured for
one year against the risk of death. Each person is insured for Rs. 50,000. if the past
experience indicates the 4 out of 1000 people die during the year, expected amount
claimed to be paid to the family of 4 persons would come to Rs. 2,00,000. the
contribution to be paid by the each of the 1000 will come to Rs.200 per year. Thus, all the
1000 persons share loss caused to the 4 unfortunate families. 996 persons who survived
till 1 year have not lost any thing as they have secured peace of mind and a feeling of
security for their family. While insurance cannot prevent accident or premature death, it
can help, protect the family of the deceased against the loss of income caused by the of
the main breadwinner. In return for specified payments, insurance will provide protection
who are exposed to similar risk, collect contribution (premium) from them on sum
equitable basis and pay the losses (claim) to the unfortunate few who suffer.
Keeping track of the performance of the insurance contract like timely payment of
renewal premium.
Attending to the various requirements that may arise during the duration of the
contract.
Investing the premiums collected and maximizing the investment return (Interest
on Investment).
Unlike other avenues of savings where the amount saved with interest is payable only on
maturity, insurance plans provide for payment of the total sum assured along with a
Belgaum Institute of Management Studies
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“A Study on Recruitment for recruiting Financial Advisors”
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bonus, if any, on any eventuality even before the maturity of the policy. And another
advantage of insurance is that an insurer can avail loans against the security of the policy
from the insurance company. Even banks and other financial institutions advances loans
To provide for one’s family and perhaps; others in the event of death, especially
premature death. Originally, policies were to provide for short period of time, covering
temporary risky situations, such as sea voyages. As lie insurance became more
established, it was realized what a useful tool it was for a number of situation, including:
Temporary needs/threats:-
Regular savings:-
Providing for one’s family and oneself, as a medium o long term exercise
(through a series of regular payment of premiums). This has become more relevant in
Investment;
It is the insurance that builds up the savings of the society and thus safeguard the
investment products are traditionally lump sum investments, where the individual
Retirement:
Provisions for one’s own later years become increasingly necessary, especially in
a changing cultural and social environment. One can buy a suitable insurance
Insurance is desired to safeguard oneself and ones family against possible losses on
account of risk and perils. It provides financial compensation for the losses suffered due
to the happening of unforeseen events. By taking life insurance a person can have peace
of mind and need not worry about the financial consequences in case of any untimely
death.
Along with the growth of overall population in the country, crossing the benchmark of
hundred crore, there gas been a significant awareness for the need for insurance in the
other as well as rural segments and even among the lower middle class and illiterate class
of the population.
We in India have around 30 crore middle class educated and enlightened people who
have not realized that insurance is as necessary as the other basic necessities of life such
agents.
With a mission of : “ protect the interest of the policy holders to regulate promote and
ensure orderly growth of the insurance industry and for matters connected there with
or incidental thereto”.
IRDA Enablers
In the new market set up, the IRDA’s role that of an enabler. The new insurers will
conduct insurance business in India according to the healthy norms prescribed the
Guidelines for the code of conduct for the surveyors and loss assessors will help all
The role of IRDA, besides regulating the market, it also intents to develop it. The
IRDA has the task to promote fair competition in hither to monopolistic insurance
market. In such a fast develop scenario were the prospected appears to be brighter
The term “insurance market” is used to denote the means available for the placing of
insurance and the various organizations that are willing to accept risks. It comprises of
the demand side i.e., the buyers and the supply side i.e. sellers and the intermediaries. The
rational behind the opening up to the sector was to five individual and corporate
insurance consumers a competitive environment that can deliver products and service in
tune to their requirements. At the same time and open insurance market will enable
capital formation. Reducing the need for India to seek external capital to support its
players as these players enter into joint ventures with India counterparts. The partnership
between Indian and foreign firms will also enable the market to grow beyond the currents
rates and will offer wider choice for the consumer through the introduction of new
products, service and price option. New players are aggressive in their marketing
Life Insurers:
Literature review
Introduction to Recruitment:
Recruitment and selection is the process of identifying the need for a job, defining the
requirements of the position and the job holder, advertising the position and choosing the
most appropriate person for the job. Retention means ensuring that once the best person
has been recruited, they stay with the business and are not “poached” by rival companies.
Undertaking this process is one of the main objectives of management. Indeed, the
success of any business depends to a large extent on the quality of its staff. Recruiting
employees with the correct skills can add value to a business and recruiting workers at a
wage or salary that the business can afford, will reduce costs.
Employees should therefore be carefully selected, managed and retained, just like any
other resource.
Recruitment methods
Internal recruitment is when the business looks to fill the vacancy from within its
existing workforce.
External recruitment is when the business looks to fill the vacancy from any suitable
Internal Recruitment
Advantages
2. People will be already familiar with the business and how it operates.
3. It provides opportunity for promotion within the business – and it will act as a
motivating factor.
Disadvantages:
External recruitment:
Advantages:
3. Larger pool of workers from which we can find the best candidates.
Disadvantages:
2. longer process
Belgaum Institute of Management Studies
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“A Study on Recruitment for recruiting Financial Advisors”
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4. Selection process may not be effective enough to reveal the best candidate.
Job centers - These are paid for by the government and are responsible for helping the
unemployed find jobs or get training. They also provide a service for businesses needing
recruitment. They can be found in many places (local and national newspapers, notice
boards, recruitment fairs) and should include some important information relating to the
job (job title, pay package, location, job description, how to apply-either by CV or
application form). Where a business chooses to advertise will depend on the cost of
advertising and the coverage needed (i.e. how far away people will consider applying for
the job
vacancy and can sometimes be referred to as ‘head-hunters’. They work for a fee and
often specialize in particular employment areas e.g. nursing, financial services, teacher
recruitment
Why to Recruit
There are a number of possible reasons as to why a business may have to recruit more
employees:
In each of these circumstances a business will normally carry out Workforce Planning to
find out how many workers and what types of workers are required. The workforce plan
will establish what vacancies exist and managers then need to draw up a job description
Job description:
A job description is a detailed explanation of the roles and responsibilities of the post
advertised. Most applicants will ask for this before applying for the job. It refers to the
Job specification:
A job specification is drawn up by the business and sets out the kind of qualifications,
vital tool in assessing the suitability of job applicants and refers to the person rather than
the post.
These documents are an important part of the recruitment and selection process and
provide the basis as to where the job may be advertised and whether an applicant is
suitable for the post. They also help provide a framework for questions to be asked at an
interview.
Apartment visits.
Joggers Park.
Telecalling.
References.
which will cover every category of people. Under this method I took the
“Parivartan” pamphlets from the company and put a seal of my own, which
displayed my name and contact number. I then circulated these pamphlets in few
areas of Belgaum city by hiring a newspaper agent. This method had a wide
coverage in terms of geographical area because it could get the highest recruits.
Apartment visit:
This method was developed with an intention to tap the housewives and also
because we could get to approach many houses at a time. And apartments will at
This method mainly concentrated on recruiting young ladies and girls, and
through this method I could recruit candidates by visiting Beauty parlour. This
place.
Joggers Park:
Belgaum Institute of Management Studies
MBA
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“A Study on Recruitment for recruiting Financial Advisors”
________________________________________________________________________
This method is developed to tap all age group people who gather in morning
times. This would be a better way to convince people when they are in a relaxed
state of mind.
Telecalling:
This method of recruitment is usually carried out by all the organization because it
is one of the easiest ways to recruit candidates at the convenience of both the
parties.
Reference:
Eligibility criteria
o The candidates interested in applying for the job should be at least 12th passed.
If the candidate is eligible then after applying for the job he needs to attend a IRDA
training of 18 days if it is manual training or he should take 100 hours of online training.
Once the IRDA training is over, then he can attend the refreshers course of 2-3 days.
After the refreshers course is completed he is asked to attend the IRDA exam. If passed
he gets the license or else he needs to attend the exam once again paying a DD of Rs.200.
The main purpose of this study is to find some creative and innovative methods of
recruitment for recruiting Financial Advisors at ICICI Prudential Life Insurance Co’ Ltd.
Which will help the company to get the required kind and the number of candidates for
Advisors job who will place their insurance products and give a hand in doing their
business successfully.
Management Problem
In spite of lot many efforts ICICI Prudential is unable to get the requisite Candidates for
Financial Advisors.
Research Problem
Main Objectives
“To develop effective and practical methods of recruitment for recruiting Financial
Advisors”
Sub Objectives:
To find out the most potential segment, based on age, education, and occupation
To find out the most important factors considered by the candidates while joining
CONTENTS
- Organization Profile
- Organization Chart
- Sampling
- Measuring Tolls
Company Profile
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank,
services group headquartered in the United Kingdom. ICICI Prudential was amongst the
first private sector insurance companies to begin operations in December 2000 after
Vision:
To make ICICI Prudential the dominant Life and Pensions player built on trust by
Understanding the needs of customers and offering them superior products and
service.
Providing an enabling environment to foster growth and learning for our employees
The success of the company will be founded in its unflinching commitment to 5 core
values -- Integrity, Customer First, Boundary less, Ownership and Passion. Each of the
values describes what the company stands for, the qualities of our people and the way we
work.
we can play a significant role in redefining and reshaping the sector. Given the quality of
our parentage and the commitment of our team, there are no limits to our growth.
ICICI Bank
ICICI Bank (NYSE:IBN) is India’s second largest bank and largest private sector bank
with over 50 years of financial experience and with assets of Rs. 1812.27 billion as on
30th June, 2005. ICICI Bank offers a wide range of banking products and financial
services to corporate and retail customers through a variety of delivery channels and
through its specialized subsidiaries and affiliates in the areas of investment banking, life
and non-life insurance, venture capital and asset management. ICICI Bank is a leading
player in the retail banking market and has over 13 million retail customer accounts. The
Bank has a network of over 570 branches and extension counters, and 2,000 ATMs.
Prudential plc
Established in London in 1848, Prudential plc, through its businesses in the UK and
Europe, the US and Asia, provides retail financial services products and services to more
than 16 million customers, policyholder and unit holders worldwide. As of June 30, 2004,
the company had over US$300 billion in funds under management. Prudential has
brought to market an integrated range of financial services products that now includes life
insurance. In Asia, Prudential is the leading European life insurance company with a vast
network of 24 life and mutual fund operations in twelve countries - China, Hong Kong,
India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand
and Vietnam.
Board of Directors
The ICICI Prudential Life Insurance Company Limited Board comprises reputed
people from the finance industry both from India and abroad.
Mr. HT Phong
Mr. R Narayanan
Management Team:
First life insurer in India to receive a National Insurer Financial Strength rating of AAA
Rs. 7,000 crore funds under management (FUM) ? largest for any private sector life
insurance company
Prudence Customer Centricity Award for the second year in a row - Prudential
Corporation Asia
consumer base. The company recently launched two health products ? Health Assure and
Health Assure Plus. The products are designed to provide the customers a guaranteed
financial benefit at the time of a critical illness, over and above the direct medical
expenses that are incurred. The policy aims to cover aspects like loss of income during
the period of illness and recovery, lodging for a family member, travel and stay, etc.
ICICI Prudential was one of the first private life insurance companies to commence
operations after the privatization of the sector in 2000. Over the years, it has enhanced its
understanding of various saving and investments need of customers and launched a series
of flexible products to meet the same, spanning the segments of child plans, retirement
solutions, health plans, savings solution as well as pure protection plan. For the period
April-December 2005, the company’s retail market share stood at 31.8% amongst all
Fact Sheet
THE COMPANY
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank,
services group headquartered in the United Kingdom. ICICI Prudential was amongst the
first private sector insurance companies to begin operations in December 2000 after
ICICI Prudential’s equity base stands at Rs. 1185 crore with ICICI Bank and Prudential
plc holding 74% and 26% stake respectively. For the period April- December, 2005, the
company garnered Rs 1,430 crore of new business premiums for a total sum assured of
Rs 15,170 crore and wrote 497,765 policies. For the past four years, ICICI Prudential has
retained its position as the No.1 private life insurer in the country, with a wide range of
flexible products that meet the needs of the Indian customer at every step in life.
ICICI Prudential is also the only private life insurer in India to receive a National
Insurer Financial Strength rating of AAA (Ind) from Fitch ratings. The AAA rating is the
highest credit rating, and is a clear assurance of ICICI Prudential’s ability to meet its
DISTRIBUTION:
ICICI Prudential has one of the largest distribution networks amongst private life
insurers in India, having commenced operations in over 116 cities and towns in India,
stretching from Bhuj in the west to Guwahati in the east, and Amritsar in the north to
The company has 8 banc assurance tie-ups, having agreements with ICICI Bank,
Bank of India, Federal Bank, South Indian Bank, Ernakulam Bank, Lord Krishna Bank
and some co-operative banks, as well as about 290 corporate agents and brokers. It has
also tied up with NGOs, MFIs and corporates for the distribution of rural policies and
organizations like Dhan for distribution of Salaam Zindagi, a policy for the socially and
ICICI Prudential has recruited and trained more than 65,000 insurance advisors to
PROMOTERS
ICICI Bank (NYSE:IBN) is India’s second largest bank and largest private sector bank
with assets of Rs. 1892.18 billion as on September 30, 2005. ICICI Bank provides a
mortgages, car and personal loans, credit and debit cards, corporate and agricultural
finance. The Bank services a growing customer base of more than 14 million customers
through a multi-channel access network which includes over 590 branches and extension
Established in London in 1848, Prudential plc, through its businesses in the UK and
Europe, the US and Asia, provides retail financial services products and services to more
than 16 million customers, policyholder and unit holders worldwide. As of June 30, 2004,
the company had over US$300 billion in funds under management. Prudential has
brought to market an integrated range of financial services products that now includes life
insurance. In Asia , Prudential is the leading European life insurance company with a vast
network of 24 life and mutual fund operations in twelve countries - China, Hong Kong,
India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand
and Vietnam.
PRODUCTS
that meet the needs of customers at every life stage. Its products can be enhanced with up
Savings Solutions
protection.
purchase of an asset.
LifeTime & LifeTimeII offer customers the flexibility and control to customize
the policy to meet the changing needs at different life stages. Each offer 4 fund
life insurance cover with the opportunity to stay invested in the stock market.
Premier Life is a limited premium paying plan that offers customers life
InvestShield Life is a Market Linked plan that provides capital guarantee on the
InvestShield Cash is a Market Linked plan that provides capital guarantee on the
invested premiums and declared bonus interest along with flexible liquidity
options.
InvestShield Gold is a Market Linked plan that provides capital guarantee on the
invested premiums and declared bonus interest along with limited premium
payment terms.
Protection Solutions
LifeGuard is a protection plan, which offers life cover at very low cost. It is
available in 3 options ? level term assurance, level term assurance with return of
help customers cover their home loans in a simple and cost-effective manner.
Child Plans
along with life insurance cover for the parent who purchases the policy. The
SmartKid plans are also available in unit-linked form ? both single premium and
regular premium.
Retirement Solutions
SecurePlus Pension is a flexible pension plan that allows one to select between 3
levels of cover.
Golden Years: is a limited premium paying retirement solution that offers tax
benefits up to Rs 100,000 u/s 80C, with flexibility in both the accumulation and
payout stages.
ICICI Prudential also launched “Salaam Zindagi”, a social sector group insurance policy
Health Solution
Health Assure: Is a regular premium plan which provides l ong term cover against
Health Assure Plus: Is a regular premium plan which provides long term cover
ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance
ICICI Pru Group Gratuity Plan: ICICI Pru’s group gratuity plan helps employers
fund their statutory gratuity obligation in a scientific manner. The plan can also be
customized to structure schemes that can provide benefits beyond the statutory
obligations.
ICICI Pru Group Superannuation Plan: ICICI Pru offers a flexible defined
of the group. Employees have the option of choosing from various annuity
retirement.
ICICI Pru Group Term Plan: ICICI Pru’s flexible group term solution helps
ICICI Prudential Life offers flexible riders, which can be added to the basic policy
Accident & disability benefit: If death occurs as the result of an accident during
the term of the policy, the beneficiary receives an additional amount equal to the
rider sum assured under the policy. If the death occurs while traveling in an
authorized mass transport vehicle, the beneficiary will be entitled to twice the sum
Accident Benefit: This rider option pays the sum assured under the rider on death
due to accident.
Critical Illness Benefit: protects the insured against financial loss in the event of
9 specified critical illnesses. Benefits are payable to the insured for medical
Income Benefit: This rider pays the 10% of the sum assured to the nominee every
year, till maturity, in the event of the death of the life assured. It is available on
the premiums are waived till maturity. This rider is available with SecurePlus and
CashPlus.
Organization Chart
CEO
Belgaum Institute of Management Studies
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Regional Manager
ZM Manager
Area Manager
Data Collections Methods:-
Agency Manager
Measuring Tool:-
Unit Manager
Questionnaire (Graph and Charts)
CONTENTS
Analysis
Q-1. Gender
Male Female
33 17
66% 34%
Interpretation:
From the survey made on the candidates who were recruited, it was found that
66% of the candidates are male and 34% are female because male people are the income
earners of the family and they find ease in doing field work and can find time besides
Q - 2. Marital Status
Married Unmarried
6 44
12% 88%
Interpretation:
Majority of the candidates which are recruited are unmarried because these are the people
Q-3. Chart showing the most potential segment for Financial Advisor's job
(Age wise)
30 19 0 1
60% 38% 0 2%
Interpretation:
Majority of candidate’s age fall between 18-25, because they are energetic in nature and
Q-4. Chart showing the most potential segment for Advisors on the bases of
education
8 4 25 13
Interpretation:
Majority of the candidates who applied for the Advisors job are graduates followed by
post graduates because these are the people who after completion of their degree start
hunting for jobs and as this is a job which gives unlimited income they would prefer to go
for it.
Q-5. Chart showing the potential segment on the basis of occupation level
24 4 4 3 0 5 10
Interpretation
:48% of candidates are salaried people, followed by 20% others which consists of all
freshers. And salaried people can spare few hours for this whenever they get free time
from their job and can earn commission, which is addition to their salary.
Q-6. How you were been made aware of ICICI Prudential Financial Advisors job
Interpretation:
36% of the candidates are recruited by Telecalling, because it is the media which can
reach to different cities at a given time followed by pamphlets with 30% and Beauty
3 47
6% 94%
Interpretation:
Online Training is most preferable because it fetches 94% of the respondents. Online
training is accessible at any time and at any place only Internet matters.
Q-8. What made the candidates to join ICICI prudential as Financial Advisors
Interpretation:
Majority of candidates are graduates and fall under age 18-25, so they are the people who
are new to corporate world and want to prove themselves i.e. want to build their career by
Q - 9. How would you rate the following factors with regard to Advisor’s
job?
Interpretation
Majority of the candidates are salaried and applied for this advisor’s job to get extra
Findings
1. Techniques of recruitment:
Out of 50 candidates, 36% of the candidates were recruited through Telecalling followed
by 30% through Circulation of pamphlets through newspapers and 14% through Beauty
parlour visit.
2.
Male Female
33 17
66% 34%
From the survey made on 50 candidates which were newly recruited, 66% of the
60% 38% 0 2%
A survey on a sample of 50 candidates recruited showed that the most potential segment
age wise is 18-25 with 60%, followed by 38% lying in between the age category of
25-35.
the basis of education I found that the most potential segment education wise was
24 4 4 3 0 5 10
Findings also showed that 48% of the candidates which were recruited were salaried
6.
It was also found that 38% of the candidates which were recruited applied for his job with
7.
Findings showed that 94% of the candidates opted for online training and 6% of the
before applying for job followed by growth opportunities as the second highest
factor.
MY ACHIEVEMENTS
At ICICI Prudential Life Insurance Company Ltd, I was given a target to make my task
My target was to recruit 15 Candidates in two months. I gained a lot of experience while
achieving my target and this inspired me to get more than the number assigned.
At the end of second month I had carried out all the methods of recruitment
which I had developed and met totally 50 individuals. In this process of my work I
educated them regarding the job and created awareness about ICICI Prudential Life
Out of the 50 individuals I found that 33 were interested and I could finally
convince them for the Financial Advisors job. And for doing my job successfully I was
Suggestions
one such method where we get the required number and kind of candidates like
Other than the methods which I conducted I would even like to suggest setting up
of a stall at a shopping mall and other crowded areas like theatres and religious
For ICICI Prudential to have more efficient advisors it should tap those people
who are in the age group of 18 to 25 years and 25 to 35 years and this can be done
by tapping the fresher who finish their graduation and are about to hunt for job
and the salaried and business people as they will be having many contacts.
Belgaum Institute of Management Studies
MBA
- 61 -
“A Study on Recruitment for recruiting Financial Advisors”
________________________________________________________________________
channels like In Belgaum, as this method could be a better one to reach out to
The number of candidates recruited for manual training were very less when
I would further suggest focusing much on the growth opportunities as now a days
people are interested in achieving more and more and they don’t want to be stable
in their life.
Conclusion
I conclude that, after resorting to the various methods developed and an extensive
analysis, ICICI Prudential Life Insurance Co’ Ltd., should take up aggressive methods of
recruitment like circulation of pamphlets and other practical methods like visiting beauty
parlours, apartments and setting up of stalls at crowded areas like shopping malls, trade
fairs, religious places and theatres and Television Adds on local channel to reach out to
every house.
Contents
- Appendix
Questionnaire
- Bibliography
Questionnaire
Dear Sir/Madam,
Name: ____________________________
Address:___________________________
___________________________
1. Gender:
Male ( ) Female ( )
2. Marital status:
Married ( ) Unmarried ( )
3. I am aged between:
18 yrs – 25 yrs ( )
25 yrs – 35 yrs ( )
35 yrs – 45 yrs ( )
Above 45 yrs ( )
4. I have completed my
PUC II ( )
Diploma ( )
Graduate ( )
Post Graduate ( )
5. Right now I am
Salaried ( )
Belgaum Institute of Management Studies
MBA
- 65 -
“A Study on Recruitment for recruiting Financial Advisors”
________________________________________________________________________
Businessman ( )
Professional ( )
Housewife ( )
Retired ( )
If Professional:
Engineer ( ) CA/ICWA/CFA ( )
6. How were you been made aware of ICICI Prudential’s Financial Advisor’s
Tele-calling ( )
Apartment activity ( )
Joggers park ( )
To supplement my income ( )
To build my Career ( )
9. How would you rate the following factors with regard to Advisor’s job?
Commission/incentives ( )
Growth opportunities ( )
Brand Image ( )
Personality Development ( )
Thank You
Bibliography
Text book:
1. Subha Roa
Web Site:
1. www.google.com
2. www.iciciprulife.com
3. www.insurance.com