A

Summer training Report On

Recruitment and Selection process

SUBMITTED TO

I.K. GUJRAL PUNJAB TECHNICAL UNIVERSITY

KAPURTHALA

In partial fulfillment of the requirement for the award of

Master in Business Administration (MBA)

Submitted by Supervisor

Monika Prof. Ms. Karishma

University Roll No. 1911344

DEPARTMENT OF MANAGEMEGNT

ST.SODIER MANAGEMENT & TECHNICAL INSTITUTE,

JALANDHAR

1
 DECLARATION

I, the undersigned, hereby declare that the Project Report entitle “STUDY OF
RECRUITMENT AND SELECTION FOR BAJAJ INSURANCE
COMPANY” written and submitted by me to the university of Kapurthala , in
partial fulfillment of the requirements for the award of degree of Master in
Personnel Management under the guidance of PROF. Miss. Karishma
is my original work and the conclusion drawn therein are based on the material
collected by myself.

Student Signature

2
 ACKNOWLEDGEMENT

I would like to express my gratitude to all those who gave me the possibility to
complete this Project. I would like to thank college authorities. I want to thank the
Head of training department Mr. Varun Agarwal giving me permission to
commence this thesis in the first instance, to do the necessary research work and to
use departmental data.

I would like to thank my project guide prof. Ms. Karishma

and express my wholehearted gratitude for being extremely helpful and guiding
me, and directly or indirectly involved in the successful completion of this project.

3
 TABLE OF CONTENTS

Chapter No. Chapter name Page No

Executive Summary 5

1. Introduction 6-7

2. Company Profile 8-30

3. Objective of study 31-32

4. Review of Literature 33-39

5. Research Methodology 40-44

Data Analysis And
6. Interpretation 45-58

7. Observation And Findings 59-60

8. Suggestion Recommendation 61-63

And Conclusion

Bibliography 64-67

Annexure 66-69

4
Executive Summary

PURPOSE
The purpose of this study was to get the comprehensive knowledge and insight in
to various aspects of recruitments process which is one of the necessary tools to
evaluate people working in an organization.

RESEARCH PLAN

Formulating the objective of study.

Process of data collection
Usage of appropriate sampling plan.
Analysis of data and interpretation.
Reporting and findings.

POPULATION - 60
SAMPE SIZE - 20 employees of various departments
SAMPLING METHOD – Random Sampling Method
TOOLS FOR DATA ANALYSIS - Pie chart

5
 CHAPTER 1

INTRODUCTION

6
PROJECT TITLE
My project is “STUDY OF RECRUITMENT AND SELECTION” at Bajaj Allianz
Insurance Company.

Scope of the Study:

The scope of my study was limited to the recruitment process of executive level of
employees for the Bajaj Allianz Insurance Company, location Jalandhar.

Limitation of the project

The limitations that I faced in the organization are:-

1. SHORT TIME SPAN

Thirdly, the stipulated time for th e project is insufficient to undergo an

exhaustive study about the topic assigned and moreover the scope of the topic
(Recruitment and Selection) is wide enough, so it is difficult to cover the entire
topic within the stipulated time, but still whatever I could do towards this effect,
I have done that.

7
 CHAPTER 2

COMPANY PROFILE

8
 INTRODUCTION OF BAJAJ ALLIANZ INSURANCE COMPANY.

COMPANY HISTORY

BAJAJ Allianz Life Insurance Company is a joint venture between

two leading conglomerates, Bajaj Auto Limited, one of largest
manufactures of motorcycles and scooters in the world, and Allianz AG of
Germany one of the largest insurance companies. Bajaj Allianz Life
Insurance Co. Ltd. was incorporated on 12th March 2001. The company
received the Insurance Regulatory and Development Authority (IRDA)
certificate of Registration (R3) No 116 on 3rd August 2001 to conduct Life
Insurance business sin India.
Bajaj Allianz Shareholder Capital Base stands at Rs. 500 crore with
Bajaj Auto Limited and Allianz AG of Germany holding 74% and 26%
stake respectively. It is the largest private player in the Insurance Industry
in India with a market share of around 48% amongst the private companies
and second to LIC. The total market share of Bajaj Allianz as of 31 st March
2020 is at 7.1%.
Market
share

FY 2020 7.1%

FY 2019 6.5%

FY 2018 6.3%

FY 2017 6%

FY 2016 6.1%

9
Type Limited

Industry Insurance Services

Founded 2001

Headquarter Pune, India

Area served Worldwide

Key people Tarun Chugh(MD & CEO)

Products Life Insurance

Total assets 56,620 Cr

Website www.
bajajallianzlife.co.in

10
 ALLIANZ AG

Founded in 1890 in Berlin, Allianz is now present in over 70 countries

with almost 174,000 employees. At the top of the international group is the
holding company, Allianz AG, with its head office in Munich.

Allianz AG is in the business of General (Property & Casualty)

Insurance; Life & Health Insurance and Asset Management and has been in
operation for over 110 years. Allianz is one of the largest global composite
insurers with operations in over 70 countries. Further, the Group provides
Risk Management and Loss Prevention Services. Allianz has insured most
of the world's largest infrastructure projects (including Hongkong Airport
and Channel Tunnel between UK and France), further Allianz insures the
majority of the fortune 500 companies, besides being a large industrial
insurer, Allianz has a substantial portfolio in the commercial and personal
lines sector, using a wide variety of innovative distribution channels.

ALLIANZ AG- A GLOBAL FINANCIAL POWERHOUSE

 Worldwide 2nd by Gross Written Premiums - Rs.4,46,654 cr.

 3rd largest Assets Under Management (AUM) & largest amongst Insurance
cos. - AUM of Rs.51,96,959 cr.
 12th largest corporation in the world
 49.8 % of global business from Life Insurance
 Established in 1890, 110 yrs of Insurance expertise

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 PRODUCT PROFILE

CHILD CARE

Taking care of a child is perhaps the most important job a parent can have. It
is but natural that you would like to give your child your best, and therefore,
this is the time when careful financial planning can help you fulfill the
aspirations that you have for your children. The Bajaj Allianz “Child Care”
Solutions help you to enjoy the joys of parenthood responsibly, with the
reassurance of a secure future for your child.

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 CHILD CARE PLAN OFFERS

Child Care plan is a children money back plan with profit. Bajaj Allianz
Child Care offers a wide array of solutions that allows you to plan for your
child’s future by providing you with as many as 4 distinct and unique
options.

1. Child Care 21
2. Child Care 24
3. Child Care 21 Plus
4. Child Care 24 Plus

START OF LIFE BENEFIT

This is a unique feature of Bajaj Allianz “Child Care” 21 Plus & 24
Plus. These packages offer you the choice of providing a unique Start of Life
Benefit for your child. For a nominal amount, an additional Sum Assured
subject to a maximum limit of Rs.10 Lacks will become payable to enable
the child start his/her professional life smoothly, in case of an unfortunate
death or Accidental Permanent Total Disability of the Policy holder during
the term of the policy. This benefit will not be available in the event of
accidental permanent total disability after age 65 of the policy holder.

13
 IN-BUILT BENEFITS

A) PREMIUM WAIVER BENEFIT:

In case of death or Accidental Total Permanent Disability of the
policyholder during the premium payment term, all future premium
payments are waived. This benefit will not be available in the event of
accidental permanent total disability after age 65 of the policy holder.

B) FAMILY INCOME BENEFIT:

In case of death or accidental total permanent disability of the policy
holder during the term of the policy, a monthly income benefit of 1% of the
sum assured (12% per annum) becomes payable till the end of the policy
term (subject to a maximum of Rs. 1,20,000 per annum). This benefit will
not be available in the event of accidental permanent total disability after age
65 of the policy holder.

C) OPTION TO PURCHASE FURTHER INSURANCE AT MATURITY:

For ensuring continuity of the valuable insurance protection that the
child was enjoying, we offer the child and option to purchase a with profits
endowment or an equivalent plan from Bajaj Allianz Life Insurance
Company for twice the amount of face value of this policy, without any
medical examination, on the premium rates prevailing at that time. (The
application must be made at least 6 months prior to maturity of this policy).

14
Recruitment of Advisors Bajaj Allianz Life Insurance Company

This is a good business opportunity offered by Bajaj Allianz Life Insurance Co. to
become a business partner and earn a good amount of money.

Business description

Be our Certified Financial Consultant Join Bajaj Allianz Life Insurance as a

Financial Consultant and help analyze your customer’s financial needs, provide
customized financial solutions to each one and conduct reviews on a regular basis
to keep your customers on track.

Along with being a great career move you get associated with Bajaj Allianz Life
Insurance, India’s Most Respected Private Life Insurance Company. We at Bajaj
Allianz Life Insurance also offer you unmatched support with various training
programs to help you excel in your endeavour.

A great career move in every way Zero investment, there is no start-up capital.
You can work full-time or part-time, depending on your convenience Sunrise
industry Support every step of the way At Bajaj Allianz Life insurance Co. ,
training is an inherent element of our support system - at no extra cost - for our
new Financial Consultants

15
EXCELLENT OPPORTUNITY

 Join Bajaj Allianz as a Advisor and earn a rewarding career

 Flexible work timings – You can work whenever you like. You can
work full-time or part-time, depending on your convenience. However,
the time you invest will determine your success  

 Any one can join - Young graduates, Housewives, Retired Personnel,

Self-employed or Working Professionals.

 Zero Investment - There is no start-up capital required. Be your own

boss with flexible working environment, unlimited earning potential and
opportunities to be part of a world class sales team. 

 Attractive Remuneration - Company offers excellent commissions,

award and rewards for the performers.  
You have unlimited earning potential. Commission structure is pretty
handsome and is 15-40% and renewal commission of 5% second year
onwards till the policy is in force.

 Certificate by IRDA- You will get world class training free of cost and
certification by Insurance Regulatory Development Authority.

16
  TRAINING - Perfects your knowledge about the insurance industry as
well as our products.

Desired Profile:

Age: 18 Yrs to 65 Yrs

Education: Intermediate or more
Experience: Not Mandatory
Type of Job: Full Time or Part Time

Documents Required:

8 photograph

Age proof (passport, Birth certificate, College Leaving Certificate, Driving

License)

Address proof

Education proof

Copy of PAN Card

Duely Signed Cancelled Cheque of self

A candidate needs to bring a DD of Rs. 925/- in case of offline training.

17
RECRUITMENT PROCESS OF ADVISORS :

Natural Market:

A natural market consist of people to whom you know well from your
family, friend circle, relative can be a good prospect. The most
admired way for recruitment in Bajaj Allianz is through natural market.
Natural market persons are easily approachable and most of the
successful recruitment in Bajaj Allianz is from natural market.

Personal Observation:

It means identify the right person through observation. For e.g. a

person residing in your locality and very famous in taking initiative in
social activities can be a good prospect.

Nominator Call:

A nominator is a person who is very much influential in the market as

well as in societies. Name gathering and identification is easy in this
case, but these people are highly unapproachable. These people can
be very productive in giving references of the prospect. They are not
prospect by default.

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Centre of Influence (CoI) Call:

A centre of influence person is people who are influential and you

know them personally. They are approached for giving references of
the client.

SHORT LISTING

Bajaj Allianz follows some process regarding

the short listing the people. Company can judge the prospective
person. The basic objective of this selection is to have good retention and
greater effectiveness in the delivery of service. Regarding this issue
company has some parameters, it called 9 points criteria .

Parameters are following:-

AGE
<25 1 POINT
25-35 2 POINT
35+ 3 POINT

GENDER
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MALE 2 POINT
FEMALE 3 POINT

QUALIFICATION
UNDER GRADUATION 1 POINT
POST GRADUATION 2 POINT

MARITAL SATUS
MARRIED 2 POINT
UNMARRIED 1 POINT

LIVING IN THE CITY FOR 5 Y EA RS

<5 YRS 1 POINT
>5 2 POINT

EXAMPLE:- POINTS

Ronit Roy
Age-34 2
Gender-Male 2
Qualification-Graduation 1
Marital Status-Married 2
Living in the city-For 15yrs 2
TOTAL =9

This person will eligible for advisor in Bajaj Allianz. Because he has fulfilled the
9 marks criteria. In this way when a person’s every criteria will give the net
20
result of points then he or she will eligible for agent.

CONTACTING

Candidates are called either as nominator, Prospective Agents and a

meeting is fixed with them according to the convenience of both the party.
Here script plays very important role in fixing appointment with the
prospect.

INITIAL SCREENING

Initial screening is taken if candidate is found eligible using 4 point model.

In initial screening, a sales manager first gives the introduction about the
company. Then several questions such as his family background, his natural
market, traits for a sales person, and his present and past experiences of his
jobs are questioned.

Every candidate is required to get at least 3 points in eligibility model the

company. The eligibility standards for AA selection are as follows. In case of
score less than 3, special zonal head approval is required.

FIVE POINT SYSTEM:

Age 25 and over 1 point
Graduate 1 point
Married 1 point
21
Lived in city more than 5 years 1 point
NAT score 1 point (if passed)

NAT

Numerical Ability test is taken. Passing Score is 50%.

CAREER SEMINAR AND P200

All the prospects are required to attend career seminar at Bajaj Allianz
which provides broader aspects of growth as an Agent Advisor.
P200 is a worksheet which is given to each prospect to judge his natural
market. The prospects are required to mention at least 100 contacts from
their natural market.

CAREER INTERVIEW

P200 is evaluated in Career Interview. If candidate’s market is found worth,

he is selected to attend training and Development programme.

FCS
All the selected candidates are required to attend 22 day training session for
receiving the license from IRDA to become an Agent Advisor.

22
CONTRACT

All the successful candidates having legal license of IRDA are contracted with
Bajaj Allianz

Process

Fill up of Agency form

IRDA Training (100 hrs)

IRDA Exam

Fail Pass

23
Exit Product Training

Traditional Pr. ULIP Product

Internal Assessment

Fail Pass

24
 Exit Certification

JOB DESCRIPTION FOR ADVISORS

Pre sales role

 Idenzztifying prospective clients.

 Meeting prospective clients.
 Understanding the need of the client.
 Presenting solutions to client.
 Closing sales.

Post sales role

 Taking 1-2 references from the client

 Providing timely updates to the client for maintaining Lifelong relationship.

BENEFITS TO ADVISORS

Financial Benefits:

Commission on issuance of every policy.

Commission directly credited to bank account of Advisors within 15 days. These

commission varies from 7.5-40% according to plan.

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 BASIC COMMISSION

First year Commission payable on regular premium conventional policies

Name of the plan 1st year

commission
Endowment Assurance plan 40%
Money Back plan 40%
Children’s plan 40%
Term Assurance plan 25%
Lone cover Term Assurance plan 25%
Personal Pension Plan 7.5% RENEWAL
COMMISSION:

Renewal commission would be paid from the 2nd year onwards on regular
premium policies. Renewal commission is not payable on single premium
plans.

Name of the plan Renewal commission 2nd

year onwards
Endowment Assurance plan 5%
Money Back Plan 5%
Children’s plan 5%
Lone cover Term Assurance Plan 5%

26
Term Assurance plan 5%
Personal Pension Plan 2%

BONUS COMMISSION

Bonus commission would be payable on the first year premium received and
adjusted on the regular premium policies under the following plans,

1.Endowment Assurance Plan

2.Money Back Plan

3.Children’s Plan

4.Term Assurance Plan

5.Lone Cover Term Assurance Plan

Bonus commission is not payable on the single premium plans and on the
policies issued under the Personal Pension Plan and all Unit Linked Plans.

Bonus commission rate would depend on financial consultant crossing the

minimum RNEP(Received Net Effective Premium) within one year.

Period RNEP Bonus commission % of the 1st year Premium received

In one year 1,00,000 5%
1,50,000 10%
2,25,000 15%

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REWARDS & RECOGNITION

28
 Within 30 days of Licensing Consultant can become

STAR – Converted premium 2 Lacs

Silver Medal-Worth Rs 5200(approx)

RISING STAR – Converted premium of 5 Lacs

Gold Medal-Worth Rs 13,000(approx)

MILLIONAIRE STAR – Converted premium of 10 Lacs

Gold Medal-Worth Rs 25,000(approx)

GLOBAL STAR – Converted premium of 24 Lacs

Gold Medal-Worth Rs 60,000(approx)

Extra Payouts for STAR Performers

Star Performers Club

Status Bronze Silver Glod Centurion
Benefits 1%max 2.5%,max 5%,no upper Graded-
limit 4.5%to8.5%
Rs.5999 Rs.37499
Additional status 0.50% 1.00% 1.50%
retention Bonus

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 MONTHLY & QUARTERLY CONTESTS

There are various Sales linked monthly & quarterly contests occur in which FCs
has opportunity to gain something. Like

 Gift Vouchers
 Home Appliances

 Two-Wheelers

 Gold/Diamonds Jewelry

 Foreign Trips

 Mobile Phones

 Laptops

 Cars etc.

OTHER BENEFITS

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 On field support- Joint fieldwork with respective SDM/BDM.

 Training support – Various training modules to enhance your sales skills,

interpersonal skills etc.

 Marketing support – Consumer Contact Programs.

 Availability of office infrastructure for telecalling, quotations, benefits

illustration etc.

 Consultant corner to access illustration, sales done, and contest updates etc.

 Personal email id.

31
 CHAPTER 3

OBJECTIVE OF STUDY

INTRODUCTION

The project was carried in Bajaj Allianz Insurance Company . As the company is
new and it requires efficient workforce for its working so the company can perform
its work. So the topic recruitment & selection was given to me by the company for
my project the period of the project was for 45 days.

32
 OBJECTIVES OF THE STUDY

1. To study the recruitment & selection procedures prevailing in the company.

2. To know the employees view on the recruitment and selection and selection
procedures of the company.
3. To evaluate the effectiveness of various recruiting technique & sources
thereby to increase the effectiveness of existing system by adopting
appropriate recruitment method.
4. To increase the organizational efficiency in short term and long term by
adopting appropriate recruitment methods.

CHAPTER 4

33
 REVIEW AND LITERATURE

DEFINATION

Recruitment is the process seeking out and attempting to attract individuals in

external labour markets, who are capable of and interested in filling available job
vacancies.
Recruitment is an intermediate activity whose primary function is to serve as a link
between human resource planning on the one hand and selection on the other.

34
 To Recruit Means To Enlist, Replenish Or Reinforce.
Recruitment begins by specifying the human resource requirements, initiating
activities and actions to identify the possible sources from where they can be met,
communicating the information about the jobs, term and conditions, and
prospectus they offer, and enthusiast people who meet the requirement to respond
to the initiation by applying for the jobs.

AIM The aim of recruitment is the information obtained from job description and
job specification along with precise staffing standards from the basis for
determining manpower requirement to attain the organizational objective.

RECRUITMENT PROCESS

Personnel human Recruiting Selecting Placing new

resource planning needed qualified employees
personnel personnel on job

Developing source of Search for Evaluation

potential employees potential Recruitment
employees Effectiveness

Upgrade in same
position
Personnel research
Internal source Transferring to
new job
Job Positioning
Promoting to higher
responsibility 35
 Employee referrals

External sources Evaluation for

fyg selection
Advertising

Scouting

Recruitment Needs Are Of Three Types:

1 Planned, anticipated and unexpected planned need arise from changes, in

organization and retirement policy.
2 Resignations, deaths and accidents and illness give rise to unexpected
needs.
3 Anticipated needs refer to those movements in personnel which an
organization can predict by studying trends in the internal and external
requirements.

SELECTION PROCESS

36
Selection is the process of picking individuals (out of the pool of job applicants)
With requisites qualification and competence to fill jobs in the organization. In
other words we can say: selection is the process of choosing the most suitable
personnel for the employment. A vacancy in the organization might occur due to
the following reasons:

● Expansion of the business

● Skill requirements due to changes in processes of technology

● Turnover of staff, resignation or dismissal

SELECTION PROCESS

37
STAGES OF RECRUITMENT AND SELECTION

38
Stage1-Preparation and advertising

Review the necessity for the job

Review and revise the details of the role (job description / Person specification)

Seek financial approval to fill the vacancy

Prepare the advert

View the redeployment website and consider suitable redeployed

Advertise the post

Prepare the pack of further particulars

Plan the process for application packs being requested and received

Select the members of the interview panel

Plan the interview arrangements – devise interview questions, selection tests,

presentation details etc; set date(s); book room
Prepare the short listing form

Stage2-Short listing and interviews

39
Monitoring process

Shortlist

Write to successful / unsuccessful candidates

Conduct the interviews / selection tests / presentations etc

Stage-3 Selection
Make the selection decision

Complete the monitoring process

Verbally make a conditional offer to the preferred candidate

Complete the appointment paperwork and send it to HR with the completed

monitoring form and other required documentation (e.g. financial approval, advert,
job description, application form/CV and reference letters if available)

Write to unsuccessful candidates

Check qualification certificates / permission to work (birth certificate, passport)

40
 CHAPTER 5

RESEARCH METHODOLOGY

41
RESEARCH:

It is a scientific and systematic search for pertinent information on specific topic.

Research is a careful inquiry or examination to discover new information or
relationship to expand and to verify existing knowledge.
DATA COLLECTION
A sample size of 20 Employees studied for this purpose. Employees where
randomly administrated the questionnaire.
DATA ANALYSIS
The analysis of data was done on the basis of unit, age and number of
years of experience and factors.
Analysis was done using the simple average method so that, finding of the
survey was easily comprehensible by all.
SOURCES OF DATA COLLECTION:
The primary as well as the secondary sources was used for collection of
data.

These data are as follows:

Primary Data by:

 Questionnaire Method
●Observation Method

The data is collected for the projects are mainly from primary source. The research
has collected relevant information through interviews with employees at the HR
department. The data collected thereof has supplemented by the observation
technique and subsequent qualitative analysis.

42
Secondary Data by:

Individual File
They contain record of every employees along with their
i.e. their education, institute, technical background,
interviewer’s assessment, experience, job profile, method
of recruitment.

Company manuals:
From this document, information regarding the company
Profile, clients, HR policies and procedures, etc was collected
& analyzed

Population: 60
Sample size: 20

Methods of Data Analysis and Statistical Technique:

Different types of data analysis techniques used in the research project such as:

Graphical Analysis
Percentage Analysis

43
SAMPLE UNIT

The sample unit consisted of all the departments of Bajaj Allianz Insurance
Company.

SAMPLE FRAME

Consisted of a comprehensive list of financial advisors newly recruited of Bajaj

Allianz Insurance.

POPULATION

Population = 60

SAMPLE SIZE

Sample size = 20

SAMPLE DESIGN

Out of 60 populations, I have taken 20 Sample. Care was taken to choose the
sample based on considerations like age, sex & work experience of
respondents thus enabling better representations of the heterogeneous
population. However, the sample design was that of “convenience sampling”. The
time consideration & size of population were major factors in determining
choice of sample design.

44
RESEARCH PROCESS

45
 CHAPTER 6

DATA ANALYSIS AND INTERPRETATION

Introduction To Data Analysis

The data used therein has been collected through the interview technique as
46
 Well as the observation method. The questions asked during the interview
process were unstructured and open ended. The required information was
derived from the discussion that followed. The researcher has selected the
departments at Bajaj Allianz Insurance Company. As for the observation
method, the researcher has observed a few interview processes and thereof
collected the required data.

Data Presentation and Analysis

1) When does the Recruitment Process start?

47
As the figure represents, in minimum cases, the recruitment process starts only
after the FIR Dept. receive the completed Employee Requisition Form, filled up by
the department head. Thus, the responsibility of identifying the manpower
requirement is distributed to the department’s heads.

70% of the cases does it happen that the requirement need is identified and
initiated by the HR department. This happens in case of major business changes,
like say for example, in the case of diversification or expansion of business.

2. Relevant Importance given to different sources of Recruitment

48
Sources of Job Employee Internal Campus Agencies Walk-
Recruitment Sites Referrals Transfers Ins
% 12% 15% 18% 7% 43% 5%
Respondent

Sources of Recruitment

Once the need for manpower had been the next step is to call for reassumes of
appropriate candidates. Notice of vacancy also placed in firm as well. Because
internal employees can be interested for respective posts.

Placement agencies, with firm are associated found major providers of candidates.
The job sites are also another major provider. From the job sites,
the company receives applications as an answer to their advertisement call or it
could be that the site automatically provides a shortlist of probable candidate from
amongst those who are registered with site.

49
When there is need of large no. of candidate, company then only refer to campus
recruitment.

3. Different Internal Sources of Recruitment

Sources of Data Employee Promotion Transfer

Recruitment Bank Referrals
% 39% 36% 19% 6%
Respondent

Sources of Recruitment

It has been observed that the data batik is a major source of internal recruitment,
which comprises of 39% of total internal source, followed by employee reference
36% and promotions and transfer being 19% and 6% respectively.

4. Basis of Transfer/Promotion

50
Sources of Seniority Merit
Recruitment
% Respondent 23% 77%

Basis of Transfer / Promotion

23%

Seniority
Merit

77%

There are 77% of the employee feel that merit is an important element of
transfer/promotion where the rest 23% feel that transfers/promotion are based on
seniority.

51
5. Vacancies Arises

Reasons Transfer Promotions Resignations

Value in % 10% 37% 53%

Vacancies Aries

10%
Transfer

Promotions
53% 37%
Resignation

According to observation it was found that 53% of vacancies arise by resignation,

37% arises through promotions and 10% only through transfer.

6. Satisfaction with Selection process

52
Level of Excellent Very Good Good Average Poor Very Poor
Satisfaction

% 23% 19% 42% 9% 3% 4%

Respondent

Level of Satisfaction

The observation reveals that 42% of the employees feel selection process is good,
Where 23% said that it is excellent. 19% rated as very good.9% said as average.
There were few who said it was poor.

7. Different Variable While short listing CV’s

Variables Sources Experience Academic Add Extra

53
 of CV Consistenc Certification Curricular
y Courses Activity
% of 37% 10% 19% 28% 6%
Respondent

Variables While Short Listing CVs

The source of the CV has a major role in the CV getting short listed. Mostly it
happens that the CVs received through agencies and job sites are those that fit into
the tailor made needs of the position.

The highest rated of any CV is the relevant experience possessed by the candidate,
expect in the cases of trainee positions.

54
8. Respective Values of the Component in Technical Interview

Component Technical Applicatio Innovativeness Presence

s Knowledge n of of Mind
Knowledge
Values in % 69% 8% 12% 11%

Components of Technical Interview

55
The interview part of the selection process is divided into two stages; one the
interview taken by technical person and other taken by HR personnel.

Different component like Technical knowledge is required by 69 % in technical

interview. Innovativeness consist of 12%, presence of mind contains 11%.

9. Respective Values of the Component in HR Interviews

56
Components Communicati Attitud Stability Leadershi Overall Team
on Skills e p Abilities Personalit Spirit
y
Values in % 28% 31% 10% 8% 11% 12%

Components of HR Interview

57
During HR interview attitude plays vital role as 31%, communication skills also
have significance as 28%.other factors like team sprit, Stability respectively consist
of 12% & 10%

Usually the weight age is equally divided between the 2 interviews. As the end of
two rounds the technical and HR personnel’s meet to jointly decide quality of the
candidate.

10. Criteria for Salary fixation

Criteria Experience / Previous Expected Rules &

Qualification Salary Salary Policies of
Company
Values in 23% 38% 12% 27%
%

Criteria for Salary Fixation

58
While fixation of salary major emphasis (38%) is given to previous salary drawn
by candidate. Rules and policies counted as second major point as 27%.
Experience as 23%.

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 CHAPTER 7

OBESERVATIONS AND FINDINGS

OBSERVATION AND FINDINGS:

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1. The data banks are not properly maintained.

2. The dead resumes are never being destroyed.

3. It is observed that walking is the best way of recruitment and selection.

4. Best way of recruiting people within the organization and consultancies.

5. Job specification was finding excellent in the organization.

6. Proper induction is not given to all the employees. It reserves to only a few
levels.

7. Salary comparison is not justifies. Old employees are demoralized by getting

less salary then new employee.

8. Manpower’s are recruited from private placement consultancy, who are

demanding high amount of fees, where as HRD Department is not fully
utilized to recruit manpower by advertisement.

9. Before recruitment cost benefit analysis is not done properly. It causes

manpower surplus which makes loss in the industry.

10.Manpower is recruited from reliable source however efficiency does not

recognize.

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 CHAPTER 8

SUGGESTION/RECOMMENDATION AND
CONCLUSION

SUGGESTION

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1. Other methods of selection like Psychometric and written tests should be
introduced in the selection tests because these tests are vital in choosing the best
candidate.

2. Cost of recruitment can be reduced by the help of e-recruiting and by

employee’s referral as this practice of recruitment is considered the least in the
company.

3. As company considers mostly experienced people for the job, a look on fresher
should also be given because they can be recruited at a less salary offered to the
experienced and they can also give good results by giving proper training and
guidance by the seniors in the company.

4. On campus recruitment should also be considered for recruitment of personnel

from various colleges and business school.

CONCLUSION

1. The study of recruitment and selection policies of Bajaj Allianz Insurance

Company Shows a small but systematic procedure
63
2. Overall employees are satisfied with this recruitment process as they don’t have
to go through different test and this ease their tensions.

3. It is observed that the best source of recruitment is through consultancies

4. Employees are treated well and they are satisfied

5. All the employees get the recreational facilities

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 Bibliography

Books :----

 Kothari,C.R.
Research Methodology,

65
 Delhi,

New Age International Pvt. Ltd.

2nd Revised Edition,

 Ashwathapa, K
Human Resource Management

New Delhi

Tata McGraw Hill

3rd Edition

WEBSITES

 www.bajajallianzlife.co.in
 www.google.com

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 Annexure

ANNEXURE

Questionnaire

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1. When does the recruitment process start?

a. When the business needs arises.

b. After receiving ERF

2. Which sources used for recruitment?

a. Job Site

b. Employee Referrals

c. Internal Transfer

d. Campus

e. Agencies

f. Walk-ins

3. Which sources used for internal recruitment?

a. Data bank

b. Employee Referral

c. Promotion

d. Transfer

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4. On which basis do you give transfer/promotions?

a. Seniority

b. Merit

5. Due to which reason vacancies arise?

a. Transfer

b. Promotion

c. Resignation

6. Are you satisfied with selection process?

a. Excellent b. Very good

c. Good d. Average

e. Poor f. Very poor

7. What are the criteria for short listing the CVs?

a. Source of CVs b. Experience

c. Academic consistency d. Additional certification course

e. Extra curricular activities

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8. Which component do you feel are important while taking Technical
Interview?

a. Technical knowledge b. Application of knowledge

c. Innovativeness d. Presence of mind

9. Which component do you feel are important while taking HR/Final

Interview?

a. Communication skills b. Attitude

c. Stability d. Leadership abilities

e. Overall personality f. Team sprit

10. What are the criteria for Salary fixation?

a. Experience/Qualification b. Previous salary

c. Expected salary d. Rules and policies of company

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