A SYNOPSIS REPORT

RECRUITMENT AND SELECTION

AT
HDFC LIFE INSURANCE

PROJECT SYNOPSIS SUBMITTED FOR

MASTER OF BUSINESS ADMINISTRATION

Department of Business Administration

Submitted By
KARNALA GREESHMA
H.T.NO: 1415-20-672-060

Under the Guidance of

Mr. PRASANT KUMAR
ASSISTANT PROFESSOR

PENDEKANTI INSTITUTE OF MANAGEMENT

IBRAHIMBAGH
(Affiliated to Osmania University-2021-22).
 INTRODUCTION
Recruitment is the process of searching for prospective employees and simulating
them to apply for the job in the organization where as selection is the process of
finding out the most suitable candidate to the job out of the candidates attracted.
Recruitment forms the first stage in the process which continues with the selection
and ceases with the placement of the candidate. It is the next step in the procurement
function, the first being the man power planning. Recruiting is the discovering of
potential applicants for actual or anticipated organizational vacancies.

Once the required number and the kind of human resources are determined, the
management has to find places where required human resources are/will be available
and also work out strategies for attracting them towards the organization before
selecting suitable candidates for jobs. This process is generally known as recruitment.
Some people use recruitment for employment. These two are not one and the same.
Recruitment is only one of the steps in entire employment process. Some others use
the term recruitment for selection. These two terms are different.

Technically speaking the function recruitment precedes the selection function and it
includes only finding, developing the sources of prospective employees and attracting
them to apply for jobs in an organization, where as the selection takes care of
choosing the most suitable personnel for employment.

Recruitment has been regarded as the most important function of personal

administrating. Because unless the right type of people are hired, even the best plans,
organization charts and control systems would not do much good.

Recruitment is a process of finding and attracting capable applicants for employment.

The process begins when new recruits are sought and ends when their applicants are
submitted. The result is a pool of applications from which new employees are
selected. It is the process to discover sources of manpower to meet the requirement of
staffing schedule and to employ effective measures for attracting that manpower in
adequate numbers to facilitate effective selection of an efficient working force.
Selection is a long process, commencing from the preliminary interview of the
applicants and ending with the contract of employment. In practice, the process differs
among organizations and between two different jobs within the Internal Environment
same company.

The current project aims to study the recruitment and selection process at Investleaf
Management Solutions. It also attempt to know about different strategies those are
implementing in recruitment process. The project also aims to know how the
company attracts with multi-dimensional and experiences that suit the present and
future organizational strategies. The project finally suggest improvements for
enhancing the effectiveness of the recruitment and selection program.

Recruitment is the process of searching for prospective employees and simulating

them to apply for the job in the organization where as selection is the process of
finding out the most suitable candidate to the job out of the candidates attracted.
Recruitment forms the first stage in the process which continues with the selection
and ceases with the placement of the candidate. It is the next step in the procurement
function, the first being the man power planning. Recruiting is the discovering of
potential applicants for actual or anticipated organizational vacancies.

Once the required number and the kind of human resources are determined, the
management has to find places where required human resources are/will be available
and also work out strategies for attracting them towards the organization before
selecting suitable candidates for jobs. This process is generally known as recruitment.
Some people use recruitment for employment. These two are not one and the same.
Recruitment is only one of the steps in entire employment process. Some others use
the term recruitment for selection. These two terms are different.

Technically speaking the function recruitment precedes the selection function and it
includes only finding, developing the sources of prospective employees and attracting
them to apply for jobs in an organization, where as the selection takes care of
choosing the most suitable personnel for employment.

Recruitment has been regarded as the most important function of personal

administrating. Because unless the right type of people are hired, even the best plans,
organization charts and control systems would not do much good.
Recruitment is a process of finding and attracting capable applicants for employment.
The process begins when new recruits are sought and ends when their applicants are
submitted. The result is a pool of applications from which new employees are
selected. It is the process to discover sources of manpower to meet the requirement of
staffing schedule and to employ effective measures for attracting that manpower in
adequate numbers to facilitate effective selection of an efficient working force.
Selection is a long process, commencing from the preliminary interview of the
applicants and ending with the contract of employment. In practice, the process differs
among organizations and between two different jobs within the Internal Environment
same company.

The current project aims to study the recruitment and selection process at Investleaf
Management Solutions. It also attempt to know about different strategies those are
implementing in recruitment process. The project also aims to know how the
company attracts with multi-dimensional and experiences that suit the present and
future organizational strategies. The project finally suggest improvements for
enhancing the effectiveness of the recruitment and selection program.
NEED OF THE STUDY
The purpose of study is to learn the practical applicability of the theoretical
knowledge gained about recruitment &selection process.
To gain knowledge about, the process of recruitment &selection as well as to know
the effectiveness or ineffectiveness of the process of recruitment &selection in Hdfc
Life Insurane to provide suggestions if any for having an effective recruitment
&selection process of Hdfc Life Insurane .
1. To Increase the effectiveness of different recruiting techniques and sources for
all types of job applicants in the organization.
2. To identify the various sources of recruitment.
3. To obtain the number and quality of employees that can be selected in order to
help the organization to achieve its goals and objectives.
OBJECTIVES OF THE STUDY

1. To study recruitment and selection process at Hdfc Life Insurance .

2. To analyze the effectiveness of recruitment and selection process at Hdfc Life
Insurance.
3. To ensure that all appointments are made on merit to attract sufficient applications
from potential candidates for appointment with the skills, qualities, abilities,
experience and competencies deemed as being necessary to the job.
4. To develop and maintain procedures which will assist in ensuring the appointment
of the most suitable candidate.
SCOPE OF THE STUDY
1 The study was conducted to have an insight into the recruitment and
selection process.
2 The scope of the study was to identify various techniques used in the
recruitment and selection.
3 To understand the various sources of recruitment provided in the
organization.
4 It helps to analyze the recruitment policy of the organization.
5 It enables us to evaluate the effectiveness of different recruiting
techniques and sources for all types of job applicants in the
organization.process and how effective it is done.
 RESEARCH METHODOLOGY

Research is a common parlance refers to search for knowledge. Research is an

academic activity and as such term should be used in a technical sense. Methodology
is a way to systematically solve the research problem. It may be understood as a
science of study how research is done scientifically.
Research design:
“A research Design is the arrangement of conditions for collection and analysis of
data in a manner that aims to combine relevance to the research purpose with
economy in procedure”. The research design adopted in the study is descriptive.
Sample size:
For the present study exactly 45 employees will be selected from the company out of
100 employees.
Sample Method:
Convenience sampling is used in the study and sampling units are chosen primarily in
accordance to the convenience.
Period of survey:
The survey will be conducted for the period of 45 days.
Tools used for Analysis:
A simple percentage method is used to analyse the data.

Percentage of respondents = No. of respondents/total no. of respondents *100

DATA COLLECTION:
The data collection from secondary data.
Secondary data:
The secondary data and the extensive literature on selection procedure will be
collected from books, magazines and various websites. Information was also collected
from company records, company data base.
Data Analysis:
Data analysis can be described through.
Bar charts & pie charts:
The questionnaire is given to the employees in the organization.
The respondent to this questionnaire can be analyzed in percentages and represented
through bar & pie charts to know the importance of Performance Appraisal.
LIMITATIONS OF THE STUDY

1. The domestic market is the focus of this study.

2. We have not studied the international recruitment process here.
3. Sample size is limited due to the limited period allocated for the survey
4. The analysis is completely based on the information provided by the employees
and hence could be biased.
5. Taking appointment of the respondents became a little difficult. Only.
6. You will have to replace the person who has been promoted
 INDUSTRY PROFILE
The Indian Insurance Sector is basically divided into two categories – Life Insurance
and Non-life Insurance. The Non-life Insurance sector is also termed as General
Insurance. Both the Life Insurance and the Non-life Insurance is governed by
the IRDAI (Insurance Regulatory and Development Authority of India).
The role of IRDA is to thoroughly monitor the entire insurance sector in India and
also act like a custodian of all the insurance consumer rights. This is the reason all the
insurers have to abide by the rules and regulations of the IRDAI.
The Insurance sector in India consists of total 57 insurance companies. Out of which
24 companies are the life insurance providers and the remaining 33 are non-life
insurers. Out which there are seven public sector companies.
Life insurance companies offer coverage to the life of the individuals, whereas the
non-life insurance companies offer coverage with our day-to-day living like
travel, health insurance, our car and bikes, and home insurance. Not only this, but the
non-life insurance companies provide coverage for our industrial equipment’s as well.
Crop insurance for our farmers, gadget insurance for mobiles, pet insurance etc. are
some more insurance products being made available by the general insurance
companies in India.
The life insurance companies have gained an investment prospectus in the recent
times with an idea of providing insurance along with a growth of your savings. But,
the general insurance companies remain reluctant to offer pure risk cover to the
individuals.
The insurance industry in India has 58 insurance companies, including 34 non-life
insurers (25 general insurers, 7 standalone health, 2 specialized insurers). The
insurance industry in India has witnessed an impressive growth rate over the last two
decades driven by the greater private sector participation and an improvement in
distribution capabilities, along with substantial improvements in operational
efficiencies. 
Private Life Insurers are expected to grow their retail APE at a CAGR of over 17%
between 2021-23, and new retail term premiums are expected to double in 5 years.
The Private Non-Life insurance segment is forecasted to grow at 16% in FY22 and
14% in FY23. Standalone Health Insurers are expected to grow by over 25% in
FY22 due to the increased focus on healthcare. 
The New Business Premium for Life Insurers has grown at a CAGR of 14% over
FY14-20 led by the financialization of savings and new product launches, and the
insurance industry size in India is expected to grow at 12.5% CAGR over the next
decade 2020-30 led by specialized products such as protection and annuities
Non-life insurers have been able to post a modest growth despite the last financial
year being a challenging year on account of the pandemic, the gross direct premiums
for the segment grew at 5.19% with a total Gross Direct Premium Income (GDPI) of
INR 1.98 tn ($27 bn) in FY21. The non-life insurance premiums are expected to
bounce back with an estimated 14% growth in FY22 and 11% in FY23, led by private
insurers and standalone health insurers.
 COMPANY PROFILE
HDFC Life Insurance Company Limited is a joint venture between HDFC Ltd., one
of India’s leading housing finance institution and Standard Life Aberdeen, a global
investment company.
Established in 2000, HDFC Life is a leading long-term life insurance solutions
provider in India, offering a range of individual and group insurance solutions that
meet various customer needs such as Protection, Pension, Savings, Investment,
Annuity and Health. As on March 31, 2020 the Company had 37 individual and 11
group products in its portfolio, along with 6 optional rider benefits, catering to a
diverse range of customer needs.
HDFC Life continues to benefit from its presence across the country with 421
branches and additional distribution touchpoints through several partnerships. The
partnerships comprise 270 bancassurance partners including NBFCs (Non-Banking
Financial Companies), MFIs (Micro Finance Institutions), SFBs (Small Finance
Banks), etc. and more than 40 new ecosystem partners. The Company is also
strengthened by a strong base of financial consultants.
In Fiscal 2012, The Company established a wholly-owned subsidiary, HDFC Pension
Management Company Ltd., to operate its pension fund business under the National
Pension Scheme (NPS). And in Fiscal 2016, the Company established its first
international wholly-owned subsidiary in the UAE, HDFC International Life and Re
Company Ltd., to operate its reinsurance business.

We at HDFC Life are committed to offer innovative products and services that enable
individuals live a ‘Life of Pride’. For over two decades we have been providing life
insurance solutions that cater to various needs of individuals - protection, pension,
savings, investment, annuity and health – thus covering the three key risks of
mortality, morbidity and longevity.
Our long-stated strategy of balanced product mix, diversified distribution, continuous
product innovation and
re-imagining insurance through effective use of technology has enabled us to continue
our journey despite the
ever-changing external environment.
Vision and Values
Values are the most critical elements that reflect the conduct of an organisation.
Below is our vision and our values, the pillars that support the success of HDFC Life.
Vision
One of the most successful and admired life insurance company, which means that we
are the one of the most trusted company, the easiest to deal with, offer the best value
for money and set the standards in the industry.
"The most obvious choice for all'.