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PROJECT REPORT ON RECRUITMENT IN ICICI PRUDENTIAL LIC LTD

Submitted By: PRAGYA CHOUDHARY Roll No. - 49 COURSE PGD IN HRM SESSION 2006 -2007

YWCA BANGLA SAHIB LANE NEW DELHI -110001

CONTENTS
4. DECLARATION 5. ACKNOWLEDGEMENT 6. CERTIFICATE 7. SUMMARY 8. COMPANY PROFILE 9. OVERVIEW OF INSURANCE MARKET 10.H R POLICIES 11.REVIEW OF LITERATURE 12.RESEARCH METHODOLOGY 13.CONCLUSION 14.FINDINGS 15.RECOMMENDATIONS 16.BIBLIOGRAPHY

DECLARATION

I hereby affirm and declare that this project work on Recruitment has been completed by me under the guidance and supervision of Mr. VIKASH ANAND and embodies the original piece of work and has not been copied and submitted to any other university or institution. My indebtedness to other works/publications has been duly acknowledged.

PRAGYA CHOUDHARY Roll No. - 49 COURSE PGD IN HRM

ACKNOWLEDGEMENT I wish to thank Mr. Vikash Anand (Head Hiring India for ICICI PRUDENTIAL LIC Ltd.) for giving me this opportunity to do my dissertation with ICICI PRUDENTIAL LIC Ltd. I also wish to acknowledge him for his continuous and unmatched guidance till the completion of the project. I also express my gratitude to the entire staff of ICICI PRUDENTIAL LIC Ltd. for providing me valuable inputs, supervision and cooperation throughout the period of my research project, which helped me in successful completion of my project. To top it all, I would like to thank the whole team being a part of which only gave me this opportunity to have such a nice experience during my dissertation with ICICI PRUDENTIAL LIC Ltd.

Executive Summary In this age of War for Talent, more so in the sunrise industries like Insurance Industry, each and every organization wants to maximize their brand equity and portray an image in the minds of the talents, which are hard to find, that they are the best in the business. Moreover they are always looking for the best policies and practices to make themselves most efficient in finding right talent, attracting right talent & eventually hiring that talent. As the things have turned out to be in the near past, hiring is not an easy task to manage in this present age. Recruitment holds the key to the success of most of the organizations, more so in the Insurance sector. This project on Recruitment has its basis in the above paragraph. The objective of this project was to study the various practices and policies of the organization as regards how do they go about recruiting covering almost each and every aspect of recruitment present in the Insurance Industry. The various subjects that have been studied with the help of this project includes the

structure of the hiring team, the process of recruitment, the organizational hierarchy, the commission structure, use of the automation in the process of recruitment, types of metrics used, the percentage performance of various hiring sources etc. The study presents a comparison of the different practices prevailing in different organizations. This study is the result of the survey that was undertaken in ICICI PRUDENTIAL LIC Ltd., which aimed to study each and every aspect of the recruitment process prevalent in these organisations.

COMPANY PROFILE

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 headquarter in the United Kingdom ICICI prudential was amongst the first private sector insurance companies to begin operation 2000 after receiving approved from Insurance Regulatory Development Authority (IRDA). It is the top most private life insurer in the country at present having the largest distribution network among the private players in the country. The company always has the commitment to expand and reshape the life insurance in India. Therefore it was imminent that company comes up with a broad spectrum of policies catering to a varied customer best. 1.1 THE PARTNERSHIP IN THE COMBINATION

ICICI BANK India second largest bank with asset base of Rs. 106810 crores, ICICI Bank provides a broad spectrum of financial service to individual and companies. This includes mortgages, car and personal loans, credit and debit cards, corporate and agricultural finance. The Bank services a growing customer base of more than 7 million customer accounts and 5 million bond holders accounts through a multi-channel assess network this includes about 450 branches and extension counter, 1675 ATMs, call centre and internet banking. ICICI Bank posted a net profit of Rs. 1,206 crores for the year ended.

March 31, 2003 ICICI Bank is only Indian company to be rated among the country rating by the international agency Mondays and the only Indian company to be awarded an investment grade international credit rating. The Bank enjoys the highest AAA (or equivalent) rating from all leading Indian rating agencies. Prudential Plc. established in 1948, it is a leading international financial services company in the U.K. with some U.S. $250 billion funds under management and more than 16 billion customer world wide. Prudential has brought to market an integrated range of financial products that now includes life insurance, pensions, mutual funds, banking, investment management and general insurance. In Asia, Pakistan is U.K. largest life insurance company with a vast network of 23 life and mutual funds operations in 12 countries China, HongKong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. EQUITY The Company has an equity base which stands at a whopping figure of Rs. 6.75 billion, with ICICI Bank and Prudential Plc. holding 74% and 26% stake respectively. In the year ended March 31, 2004 the company has issued over 430,000 policies, for a total sum assured of over Rs. 8000 crore and premium income in excess of Rs. 980 crore the company has network of about 30,000 advisors as well as 12 banc assurance tie-ups at present. The company has got 67 branches across 54 different locations across the country.

1.2

DISTRIBUTION

ICICI Prudential has one of the largest distribution networks amongst private life insurer in India, having commenced operations in 64 cities and towns in India. These are Agra, Ahmedabad, Ajmer, Allahabad, Amritsar, Banglore, Bhatinda, Bhopal, Bhubhaneswar, Chandigarh, Chennai, Coimbatore, Dehradun, Goa, Guntur, Gurgaon, Hyderabad, Hugli, Indore, Jaipur, Jalandhar, Jamnagar, Jamshedpur, Jodhpur, Kanpur, Karnal, Kochin, Kolkata, Kota, Kottayam, Locknow, Ludhina, Madurai, Manglore, Merath, Mumbai, Nagpur, Nasik, Noida, New Delhi, Patiala, Pune, Rajkot, Ranchi, Surat, Thane, Thrissur, Trichy, Trivandrum, Vashi, Vijaywada and Vizag. 1.3 BANK ASSURANCE

The company has twelve banc assurance tie-up, having agreements with ICICI Bank, Allahabad Bank, Federal Bank, South Indian Bank, Bank of India, Lord Krishna Bank, and Punjab and Maharashtra Co-operative Bank, Shamro Vithal Co-operative Bank and Jalgaon Peoples Co-operative Bank, as well as some corporate agents. It has also tied up with organizations like Dhan for distribution of Salam Zindagi, a policy for the socially and economically underprivileged sections of society. 1.4 TECHNOLOGY

The company continuously leverages on the state of art technology that it possess. The modern and updated technology infrastructure helps not only to provide superior quality of products and services to the customers but at the same time

helps in creating a prudent reward and recognitions program for the company itself. The company can leverage on this advantage to drive out one of the best CRM in the industry at the present. The parent company also is in a move to duplicate the ICICI model in order would market. It is nothing but a result of the superb all-round performance that the company has shown in all the facts of business and over the period. But more important has been the continued focus on growth and the strife for results from the workforce itself. 1.5 VISION

The vision of the company clearly states that it wants to become the dominant Life and Pension player built on trust by world-class people and services. The Company hopes to achieve the above-mentioned objective by: 17.Understanding the needs of customers and offering 17.Understanding them superior products and services. 18.Leveraging technology to service customer quickly, 18.Leveraging efficiently and conveniently 19.Developing and implementing superior risk management 19.Developing and investment strategies to offer sustainable and returns to the policyholders. 20.Providing an enabling environment to foster growth and 20.Providing learning for the employees. 21.And above all, building transparency in all the dealings. 21.And

The success of the company will be founded in its unflinching commitment to 5 core values Integrity, Customer Firs, Boundary less, Ownership and Passion. Each of the values describes what the company stands for, the qualities of the people and the way the company works. 1.6 MANAGEMENT

1.6.1 BOARD OF DIRECTORS The ICICI prudential Life Insurance Company Limited Board comprises reputed people from the finance industry both from India and abroad. Mr. K. V. Kamath, Chairman Mr. Mark Norbom Mrs. Kalpana Morparia Mrs. Kevin Holmgren Mr. M. P. Modi Mr. R. Narayanan Ms. Shikha Sharma, Managing Director 1.6.2 MANAGEMENT TEAM Ms. Shikha Sharma, Managing Director Mr. Sandeep Batra, Chief Financial Officer & Company Secretary Mr. Shubhro J. Mitra, Chief Human Resources Mr. Puneet Nanda, Head Investments Ms. Anita Pai, Chief Operations & Underwriting Mr. V. Rajagopalan, Appointed Actuary Mr. Shridhar Seturam, Chief Sales & Marketing Mr. Anil Tikoo, Head Information Technology

1.7

PRODUCTS

Insurance Solutions for Individuals ICICI Prudential Life Insurance offers a range of innovative, customer centric products that meet the needs of customers at every life stage. Its 17 products can be enhanced with up to 6 riders, to create a customized solution for each policyholder. Savings solutions 22.Secure Plus is a transparent and feature-packed saving 22.Secure plan that offers 3 levels of protections well as liquidity options. 23.Cash Plus is a transparent and feature-packed saving 23.Cash plan that offers 3 levels of protections well as liquidity options. 24.Save n Protect is a traditional endowment saving plan 24.Save that offers life protection along with adequate returns. 25.Cash Bak is an anticipated endowment policy ideal for 25.Cash meting milestone expenses like a childs marriage, expenses for a childs higher education or purchase of an asset. Protection solutions Life Guard is a protection plan, which offers live cover at very low cost. It is available in 3 options level term assurance with return of premium, level term assurance without return of premium and single premium. Child solutions

Smart kid child plans provide guaranteed educational benefits to a child along with life insurance cover for the parent who purchases the policy. The policy is designed to provide money at important milestones in the childs life. Smart kid child plans are also available with in unit-linked form both single premium and regular premium. Market linked solutions Life Link is a single premium Market Linked insurance Plan, which combines life insurance cover with the opportunity to stay, invested in the stock market. Life Time Super offers customers the flexibility and control to customize the policy to meet the changing needs at different life stages. It offers 3-investment options or funds:- Maximizer, Balancer, Protecter & Preserver. Retirement solutions Forever Life is a retirement product targeted at individual in their thirties. Secure Plus Pension is a flexible pension plan that allows one to select between 3 levels of cover. Market linked retirement solutions Life Time Pension is a regular premium market-linked pension plan.

Life Link Pension is a single premium market-linked pension plan. ICICI Prudential also lunched Salaam Zindagi, a social sector group insurance policy targeted at the economically underprivileged sector of the society. Insurance solutions for groups ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance benefits to their employees. Group Gratuity plan: ICICI Prudentials group gratuity plan helps employers fund their statutory gratuity obligation in a scientific manner. The plan can also be customize to structure schemes that can provide benefits beyond the statutouy obligations. Group Superannuation Plan: ICICI Prudential offers a flexible defined contribution superannuation scheme to provide a retirement kitty for each member of the group. Employees have the options f choosing from various annuity option or opting for a partial communication of the annuity at the time of retirement. Group Term Plan: ICICI Prudentials flexible group term solution helps provide affordable cover to member of a group. The cover could be uniform or based on designation or a multiple of salary. The benefits under the policy are paid to the beneficiary nominated by the member on his or her death.

Flexible Rider Options

ICICI Prudential Life offers flexible riders, which can be basic policy at a marginal cost, depending on the specific needs of the customer. Accidental and Disability benefits: If death occurs as the result of an accident during the term of the policy, the beneficiary receives an additional amount equal to the 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 assured as additional benefit. Accident benefit rider: This rider option pays the sum assured under the rider on death due to accident. Critical Illness benefit rider: It protects the insurer against financial loss in the event of 9 specified critical illnesses. Benefits are payable to the insured for medical expenses prior to death. Major Surgical Assistance benefit rider: It provides financial support in the event of medical emergences, ensuring that benefits are payable to the life assured for medical expenses incurred for surgical procedures. Cover is offered against 43 different surgical procedures. Income benefit rider: This rider pays the 10% of the sum assured to the nominee every year, till maturity, in the death of the life assured. It is available on Smart Kid, Secure Plus and Cash Plus. Waiver of Premium: In case of total and permanent disability due to a accident, the premiums are waived till maturity. This rider is available with Secure Plus and Cash Plus.

OVERVIEW OF INDIAN INSURANCE MARKET

The insurance landscape in India is undergoing a tectonic shift.

Despite its more than teeming one billion populations, India still has a low insurance penetration of 1.95 percent, 51st in the world. Although India boasts a saving rate or around 25 percent, less than 5 percent is spent on insurance. With the entry of competition, the rules of the game have begun to change. The market is already beginning to wetness a wide array of product from players whose number is set to grow. In such a scenario, the appeal of insurance is the benefits of protection of lives & assets from insurance products. Only 22% of the insurable population possesses life insurance. Whats more, in a country over billion people, life insurance premier forms only 1.8% of GDP indicate the extent of underinsurance. Recognizing the huge potential of the market and the need to make insurance, particularly the life insurance, available on a wider scale, the government opened the industry to private players in 1999 and was flooded with applications. Major international insurance-Prudential and Standard Life of UK, Sun life of UK, Sun life of Canada, AIG, MetLife and New York Life of the US, to name a few tied up with leading companies of India to reach out this vast market. Today, the Indian insurance industry has a dozen of private players, each of which is making strides in raising awareness level, introducing innovative products and increasing the penetration of life insurance in the vastly underinsured country. The success of effort is noteworthy private insurers captured nearly 9 percent of new business premium income in tow years of operations. The biggest beneficiary of the competition amongst the life insurers is the consumer. A wide range of products, customer focused service and professional advice has become the mainstay in the industry. It is seen a dramatic increase in

customer awareness, with penetration cutting across the socioeconomic class and attracting people who have never purchased insurance before. With the heightened awareness comes a willingness to evaluate life insurance as an integral part of financial planning kit a significant change nearly attuned, where insurance is purchased as a tax saving pool. Not only has there been shift in the perception of life insurance, but also the way it is sold. From being a purely advisor driven business, the sector has seen the emergency of a number of channels, including banc assurance, corporate agents and direct marketing. These channel though very new, quickly gaining importance because they present customers multiple ways of approaching life insures. There is also a huge improvement in service attitude ad delivery making a customer a focus of each initiative. Technology has come to aid giving the platform; the reach and the ability each service each customer seamlessly. Multiple touch points have emerged contact centers, e-mail, facsimile, websites, snail-mails etc. On the product front, there are two trends that stand out. The days of high guaranteed return products, are over. Products are now priced flexible, realistically, sustain ably. LIC of India has witnessed a decline in first year premium in FY03 while private players has witnessed a more than three fold premium growth because of reduction of guaranteed return products.

First year premium income (Rs. in Crores) 2002-2003 2001-2002 Private Players 982 297 LIC of India 11,343 14,843

The other major change is the introduction of liquid, transparent and flexible policies, with linked products leading the bridge. While such products are more complex, there is a distinct set of investors who fond such products appealing. As the market matures, the demand for unit link and products will only increase.

3.1

VARIOUS PLAYERS PRESENT IN THE MARKET

26.Life Insurance Corporation of India 26.Life 27.ICICI Prudential Life Insurance Company limited 27.ICICI 28.Birla Sun Life Insurance Company Limited 28.Birla 29.HDFC Standard Life Insurance Company Limited 29.HDFC 30.Max New York Life Insurance Company Limited 30.Max 31.SBI Life Insurance Company Limited 31.SBI 32.TATA-AIG Life Insurance Company Limited 32.TATA-AIG 33.Bajaj Allianz Life Insurance Company Limited 33.Bajaj 34.Kotak Mahindra Old Mutual Life Insurance Company 34.Kotak Limited 35.ING Vysya Life Insurance Company Pvt. Limited 35.ING 36.Aviva Life Insurance Company India Pvt. Limited 36.Aviva 37.Met Life India Life Insurance Company Pvt. Limited 37.Met 38.Reliance Life Insurance Company Limit 38.Reliance 39.Shriram Life Insurance Company Limit 39.Shriram 40.Sahara India Life Insurance Company Limit 40.Sahara 41.Bharti AXA Life Insurance Company Limit 41.Bharti GRAPHICA REPRESENTATION OF MARKET SHARES OF PRIVATE PLAYERS

IC IC I PR UDENTIA L H DFC S TAN DAR D BERL A S UN LIFE ALLIA NZ BAJAJ K OM KOT A SBI L IFE ING V AY SYA MET L IF E TATA AIG AVIVA L IFE AMP SA MMAR

40 35 30 25 20 15 10 5 0

SOURCE: IRDA

Series1 Series2

HUMAN RESOURCE POLICIES

PRACTICE OF RECRUITMENT IN THE COMPANY

Recruitment is a vital issue for organizations to get right. With skills shortages in some key areas and the push for improvement following the competition, organizations need to make sure they have the right people - and enough of them. There are many aspects to improving service delivery, but recruiting the workforce with the capacity to deliver is a vital foundation. There is much innovative work already going on in organizations and there are encouraging signs of improvement. Many of the issues surrounding building capacity relate to the way that people are recruited and developed within organizations. Organizations need to be able to deliver improved services within a current framework of shortage of some key skills and tight financial constraints. Recruitment processes therefore need to fit in with the overall business needs of the organization through a carefully planned and systematic approach to workforce planning, accompanied by consideration about how service delivery is made and whether new ways of working would be more effective. The best responses to recruitment problems are ones that moved away from a primary focus on recruitment to a holistic focus on peoples whole work experience.

Some of the issues that demand organizations attention are mentioned below. These are those issues, which if dealt properly and sorted out in time, really helps an organization to attract right kind of talent. With the help of this industry survey of mine, Ive tried to understand the policies of different organizations in these areas as regards recruitment. ISSUES CONCERNING RECRUITMENT PROCESS -: MODERNISING THE RECRUITMENT PROCESS Quality assurance checks should be carried out to ensure that recruitment processes are a positive experience for applicants. This may be carried out through a questionnaire to applicants, asking managers how the process went or through discussion with new recruits. Such checks could include for example: 42.Did the applicant feel that the process was fair? 42.Did 43.Had applicants been given correct and sufficient 43.Had information about the selection process e.g. if there was a IRDA test, were they told what sort of test it was, how long it would last etc? 44.Did the information given in the job pack and 44.Did

advert tally with what they were told at interview? 45.Were there any problems with administrative 45.Were processes? One of the main tests of whether recruitment is successful is whether the person hired is still with the organisation at a set period after taking up the post. Turnover figures linked to length of service should also be able to identify whether new people do stay with the organization, or whether recruitment processes do not reflect the needs of the job, or induction periods are not properly managed. THE RECRUITMENT FRAMEWORK Who deals with recruitment? In most organizations there are a number of people who become involved in the recruitment process, from the initial stages through to the decisions about short listing and selecting the final candidate. All or some of these tasks can be undertaken by line managers or by a specialist HR team either employed directly by the organization or outsourced to an external organization. Roles and responsibilities may also vary depending on the job being advertised. Its important to

know who deals with recruitment. And how he deals with it? Line managers will usually be involved in the selection process but may also undertake all or parts of the recruitment process, such as organizing placement of the advertisement and inviting prospective candidates to interview. Alternatively, the Human Resources (HR) function may undertake the recruitment process. The service could be provided by: 46.A corporate HR team, provided as part of an overall 46.A HR service; 47.A specialist team, whose sole responsibility is 47.A recruitment, A corporate HR team may help to ensure consistency, provide a central point for enquiries and achieve some economies of scale. A specialist recruitment team within the organisation can provide economies of scale, particularly for larger organisations and ensure consistency, a central contact for potential candidates and centralised promotion of the employer brand.

Structure of the Hiring Team To know the structure of this recruitment team can also be very important for an organisation. Better structure, leads to best results. Outsourcing The recruitment process can be contracted out partly or wholly to an external organisation. This outsourcing may be for a specific vacancy, such as the use of a recruitment agency to recruit for the company to make the advisor base. process corporate may be agents; Different parts of the recruitment outsourced; telesales, for example and using job read place

advertisements, or for short listing the profiles or for reference check. This may mean that the agency can provide a quicker, better and even cheaper service than the organisation can provide itself. Improved service levels may also result from the service level agreement agreed between the organisation and the corporate agents. Human Resource Management Information Systems (HRMIS) in Recruitment

Depending on the qualification of the advisors provided by them, HRMIS can help at every step of the recruitment and selection process such as: Recording job requirements, through on-line job descriptions and person specifications; Recording previous job advertisements, which may then be modified for the current vacancy; Producing information for the job package, such as standard letters regarding the application processes etc; Linking to advisor based information, if the Internet is used for recruitment and the receipt of applications; Producing letters and information for candidates regarding the selection process, such as invitations to attend interviews etc; Record selection process results; Producing standard letters for potential successful candidates, such as reference requests, initial offer letters etc; Producing contracts of employment for the successful candidate; Recording the successful candidates personal and job information for future use during employment;

Recording information about applicants and the process for monitoring purposes. The use of a HRM during the recruitment and selection process can speed up the process and free resources. For example, depending on the type of package used, it may be possible to enter a candidates details once and this information can then be used to generate all other documentation and information. If the use of a HRM is linked to online recruitment and applications, the process may be streamlined still further. The implementation of a HRM can be costly, both in terms of purchasing the software, but also in training staff to operate the new system. ATTRACTING THE RIGHT CANDIDATE Job analysis Before determining who to attract and select, it is essential that the organisation has a clear idea about what the job requires and the attributes of the person who will best meet these requirements. Traditionally, job or role descriptions and person specifications have been devised to enable the organisation to do this.

Job or role descriptions detail information about the job purpose, its position within the organisation and the work tasks and outputs. A person specification tends to set out in more detail what sort of skills, attributes, experience and qualifications are needed for an individual to meet the requirements of the job and how the organisation will assess the individual during the recruitment and selection process to determine whether they meet these requirements. Sources of recruitment The sources of recruitment for an organisation are numerous. In this age of war for talent, organisation should try and maximize the use of each and every source of recruitment possible available. Various sources of recruitment are -: Advertisements Job advertisements need to: Attract a good response from suitably qualified people; Discourage those people who would be unsuitable; Promote a positive image of the organisation.

Where to advertise: Newspapers and Specialist Press/Magazines Newspapers and specialist media are frequently used. However they can be expensive and it is therefore important to carefully consider the target audience. Specialist magazines/press can be specialist in terms of specific professions, such as People Management or Computer Weekly or for particular groups of people, such as the ethnic press. Using these types of publication can ensure that the advertisement attracts those from within the profession/particular group. Databases If the organisation is frequently in need of the same type of skills it may be useful to retain the details of unsuccessful be a but suitable candidates, should way a of potentially suitable vacancy arise in the future. This can relatively speedy and inexpensive identifying suitable candidates as the marketing process has worked and these candidates are already potentially interested in working for the organisation.

Recruitment and advertising agencies and consultants External recruitment agencies may be useful to the organisation if it does not have adequate recruitment resources in-house or if it is looking for a particular type of person. Agencies services: Advertising agencies design advertisements or campaigns and advise and arrange for adverts to be placed in the appropriate media; Employment/recruitment agencies supply details of candidates held on their records to the organisation; Recruitment consultants find candidates by advertising on behalf of the organisation and after assessing the response, provide the organisation with a final shortlist (known as executive selection). and consultants provide the following

Executive search (headhunters) With equalities issues at the forefront of many organisational practices, it is recommended that executive search should follow from open recruitment, unless it is already clear that the skills required are not available and that this has already been tested. Executive search may provide the answer to recruitment difficulties. In the retail sector it is common for managers to identify good people in other stores working with other companies that are actively approached about changing stores or companies and this is incentives on an individual basis. Using the Internet The Internet can be used during the recruitment and selection process to: Advertise jobs; Provide information on the job and its requirements (such as copies of the job description and person specification); Provide information on the organisation; Enable applicants to send their CV or complete and send an application form online;

Enable the organisation to respond to the application online. Use of the Internet to advertise jobs can provide the following advantages: It provides easy access to information by potential applicants; It allows a speedy response by applicants and the organisation which can help to speed up the whole recruitment process; It is much cheaper than, for example, placing an advertisement in the national or local press. It may provide a larger potential recruitment market; It may help to streamline the recruitment process, for example through less paper, reductions in collating and posting job packs, etc; It provides the organisation with a more up-to-date image; It provides global coverage, 24 hours a day, 7 days a week. However, there may also be disadvantages in using this method, such as: It involves time, finances and other resources to set up effectively (if using the authoritys own website);

It may be viewed as impersonal by some potential applicants; It may require changes in staffing roles and responsibilities. Where can jobs are advertised on the Internet? Jobs can be advertised on the Internet via:

The organisations Website which is quick to set up and relatively inexpensive. However potential job applicants will probably only see the jobs advertised if they are already interested in working for the organisation (or are an internal applicant).

A Recruitment Site this is a specialist site, usually linked to a recruitment agency. This approach will generally attract more potential job applicants, particularly if the site is well known and focuses on the types of jobs that the organisation wishes to advertise. However this approach will be more expensive.

A Media Site this is a website, which is linked to traditional press advertising. The site may carry full details of the advertisement, or just a copy of the advertisement that appeared in the publication. This may be helpful in attracting a wider number of

candidates, but is also dependent on the publications promotion of its website and jobs normally have to be advertised in the publication (with its related costs) before being placed on the website. It is also possible to link between sites. For example, a job could be advertised on a recruitment site and when the job is selected, it links with the authoritys own website. Employee Referrals A new but a very effective method of recruitment is the referral from the employees in return of which the employees get referral bonus depending upon the policies of the organisation. SELECTION METHODS This section looks at the process of selecting candidates. A variety of methods are available and consideration needs to be given as to which are suitable for a particular post. The methods described here are: 48.On-line screening and short listing 48.On-line 49.Technical Tests 49.Technical 50.Intervie 50.Intervie

ON-LINE SCREENING AND SHORTLISTING


Initial screening of applications is usually based on an assessment of a candidates experience and qualifications against the jobs requirements. On-line systems are now available which can filter applications automatically. An on-line selection facility screens applications against set criteria through key word searches. It may also provide a scoring mechanism. The use of on-line screening may be a useful way of filtering quickly through a huge volume of applications or sorting applications, if there are a number of jobs that have been advertised at the same time (for example through selecting applications with the same job reference number). It may be difficult to ensure that the key words used in the search do not overlook any applications that could potentially match the person specification. Some organisations that use this approach have had to develop long application forms in order to ensure that the candidate includes all appropriate information in sufficient detail for their application to be selected through the word search. Other organisations only use this approach as a first step in attempting to select candidates and then go through the applications again

manually to double check that all appropriate applications have been selected.

As with the use of the Internet for advertising jobs, there is an initial cost in implementing on-line screening and short listing, such as the cost of software and training. These costs need to be balanced against potential benefits, such as improving the speed of the recruitment and selection process.

TECHNICAL TESTS One of the important and most commonly used methods in the Insurance industry is the use of logical test to judge the accuracy and presence of mind of the candidate. INTERVIEWS Interviews are almost always used at some point in the process. The interview process is formed through identification of the key requirements of the job and a list of questions is drawn up. A panel of interviewers works through each set of questions with each candidate and scores them

on their answers. At the end of the interview process the overall scores are considered and the best candidate chosen. If additional selection methods are chosen this is fed into the overall process at the end and again the best-fit candidate is offered the appointment. Even where the interview is structured, this does not mean that follow up questions cannot be asked to probe more deeply into a candidates skills and experience. An interview that does not do this, but instead sticks to a rigid list of questions, will not allow the interviewer to obtain the information required to make a proper decision. Also, sometimes these interviews are based on the technical test that the person has given. Officers and members who are involved in the interview process should be trained in interviewing skills and the sorts of questions they should or should not ask. PSYCHOMETRIC TESTING A range of attributes are best tested through psychometric testing. This term is often confusing but in essence, means that a mental measure is used. Therefore, psychometric testing covers ability testing, aptitude testing and personality profiling.

Proper psychometric testing can only be carried out by appropriately qualified staff. It is essential that applicants are offered feedback on their performance and that applicants understand how the test information is used during decisionmaking processes. Personality tests are usually considered in conjunction with other information, as the results can be unreliable. Ability tests can also be used in this way, but many organisations use cut-off marks so that all candidates who achieve less than a certain mark are rejected while the rest progress to the next stage. ABILITY AND APTITUDE TESTS The term ability tests is used broadly and in this context will encompass aptitude tests too. range of areas including: General intelligence; Verbal ability; Numerical ability; Spatial ability; Clerical ability; Diagrammatical ability; Mechanical ability; Sensory and motor abilities. Ability tests may cover a

PERSONALITY PROFILING An individual's personality may affect their suitability for some posts. However, personality profiling does not have a right or wrong answer and individuals may be sifted through identifying particular behaviours that are better suited to the job than others. It is therefore important for those undertaking the selection process to be clear on the characteristics required to perform well in the job. DECIDING WHICH SELECTION METHODS TO USE A significant amount of research has been done on how reliable various methods are. A summary of research on how well methods predict future job performance shows that, where perfect prediction is 1.0, the following selection methods score as follows: 51.Assessment centre promotion (0.68) 51.Assessment 52.Work samples (0.54) 52.Work 53.Ability tests (0.54) 53.Ability 54.Structured interviews (0.44) 54.Structured 55.Integrity tests (0.41) 55.Integrity 56.Assessment centre performance (0.41) 56.Assessment 57.Personality tests (0.38) 57.Personality 58.Unstructured interviews (0.33) 58.Unstructured

Which methods are suitable for a particular job? When determining which selection method is most

appropriate, it is necessary to consider the requirements of the job, through analysis of the job/role description and person specification, and what skills, experience and aptitudes are being sought. Some authorities make reference on the person specification as to how they will assess that requirement during the selection process, so that potential candidates are aware of the methods the authority will use. Of course, more than one selection method may be appropriate for a particular job. It is also important to evaluate the success of the selection method to ensure that it is effective. This can be done through seeking the views of candidates who have undertaken the selection process and/or analysing recruitment statistics and turnover rates. It is also helpful to review the selection methods that were used the last time that the job was vacant and check that they are still relevant and useful to the current selection process, particularly if there have been changes to the job or a requirement for new

skills.

COMPENSATION LEVELS It is one of the most important factors that decide the efficiency of the hiring process of any organisation. It is very important to know what different organisations are paying at to their employees at different levels. To be competitive and attract the best talent, it is very important to know what others are paying. TRACKING THE PERFORMANCE OF HIRING Quality is a journey and not the destination. Therefore it is always better to keep trying to achieve the best results. The word best is very relative in nature. It cant be absolute. Therefore it is very important to keep a track of the performance of the hiring as a function and also keep a check on the efficiency of various sources of recruitment and the recruiters. For this various metrics are used by different organisations in different manner. The data is captured in different forms and means by the organisations and

presented in a customized manner according to the needs of the organisation. It is dependent on what an organisation is trying to check and evaluate. Thus it is good to know what all things other organisations are keeping a track of. This can really help in making an organisation effective.

Review of Literature A research was undertaken by Employers' Organisation for local government (EO) to understand the perfect recruiting practices in an organisation. This research explained almost all the aspects of a successful & effective recruitment process. 59.Modernising the recruitment process 59.Modernising 60.The recruitment framework 60.The 61.Promoting diversity and avoiding discrimination in 61.Promoting recruitment 62.Attracting the right candidate 62.Attracting 63.Selection methods 63.Selection 64.Competency-based recruitment 64.Competency-based 65.Employment checks 65.Employment 66.Special recruitment issues for local government 66.Special The result of the research is available in the form of a recruitment guide on the following address: http://www.lg-employers.gov.uk/recruit/guide/ Although this research was not directly linked with this study. Nor in terms of industry, neither in terms of country. But this has helped in gaining necessary theoretical base before

carrying out the actual survey. Also this guide doesnt compare the best practices of different organisation. The result of this research i.e. the recruitment guide was just a mere compilation of best alternatives and decisions. It didnt take into care the specificity of different organisations. Heraty & Morley (1998) reviewed contemporary thinking on recruitment and selection in organisations. It Drew upon data from a 1992 and a 1995 survey to explore the nature of current recruitment and selection practices in Ireland with particular reference to managerial jobs. Policy decisions on recruitment were examined, recruitment methods were reviewed, and the influence of ownership, size, unionisation and sector on the methods chosen was presented. Selection techniques employed were identified and the situations in which they were most likely to be utilized were highlighted. Although this research was not entirely directly related to this study, but it definitely gave good grounding for this study. Galanaki (2002) reviewed online recruitment as a new tool, at the disposal of the HR departments, which has known a phenomenal success in very short time. This paper presented the findings of some descriptive research,

involving UK IT companies. The research tried to identify the effect that the perceived attributes of the practice have on the decision of companies to recruit through the Internet. The attributes tested were cost effectiveness; recruitment cycle time; response rate; quality of response; impact on the image of the company; targeting of specific niches; targeting of the passive job-seeker; worldwide coverage; necessary resources, time and effort to implement; attractiveness of the mean to the job seekers (especially IT professionals and young graduates); risk of overload of answers; and impact of the size and reputation of the company. The paper provided an insight on how the companies perceive and value online recruitment.

RESEARCH METHODOLOGY

Scope of the Study The Questionnaire 67.What is the structure of the Hiring team? 67.What 68.Locational strategy - is all recruiting centralized 68.Locational or de-centralized region-wise? 69.Do organizations ask candidates to apply for 69.Do positions through an online resume form or standardized offline rsums form mandatory? 70.Experience levels for technical employee grades 70.Experience - Programmer, Sr Programmer, Module Lead, Project Lead, Project Manager. 71.Educational qualifications of laterals hired: do 71.Educational organizations hire 15-year graduates (e.g. Bachelor of Science grads) through the lateral route. If so, how are they making such lateral resources travel-ready for US (where minimum

education should be 16 years for visa stamping) 72.Typically, what are the stages in the recruitment 72.Typically, process being followed? 73.For HR assessment, are aptitude/psychometric 73.For tests also being used? 74.Recruitment channel usage break-up analysis 74.Recruitment direct recruiting, consultants, press ads, job fairs, employee referrals, etc 75.What is 75.What level? 76.Which are the common staffing firms/placement 76.Which consultants being used, especially names of partners who have a national service footprint? 77.Popularity of third party contract staffing for 77.Popularity technical positions? Is the model working in this heated market, especially for difficult to get skills, or is this model being used for general skills like SAP ABAP programmers 78.Salary (hiring matrix) for technical employee 78.Salary grades - Programmer, Sr Programmer, Module Lead, Project Lead, Project Manager. 79.What 79.What are the innovative methods in the fee structure being paid to consultants - on the basis on years of exp/grade

compensation being used to attract good talent e.g. joining bonus, re-imbursements towards notice pay/relocation, etc. 80.Hot 80.Hot skills classifications being used by organisations today - are there premiums paid for such hot skills e.g. SAP SCM consultants, etc 81.Popularity 81.Popularity of outsourcing checks to of service background/reference

providers? Or is this being done by internal recruiters for all levels or only for Project Leads and above. 82.Is there any outsourcing of the task of initial 82.Is screening of resumes (whether online or offline applicants) to specialized service providers? What types of SLAs are followed for this practice? 83.Are recruiters actually using online/automated 83.Are systems for recruitment workflow? 84.What is the process of getting the panel to 84.What interview the candidates? 85.Candidate Experience What all practices are 85.Candidate followed to ensure an excellent candidate experience?

86.Walk-ins tracker and process How is it 86.Walk-ins organized and planned? Is there any system to track the database? 87.Post recruitment joining system & induction plan 87.Post Is there any plan of getting the hired candidates join on one particular day? How do organisations deal with Off-cycle hires (joining other than the start day of induction program)? 88.Overall coordination with other functions viz. 88.Overall Staffing, Corporate HR etc. Is there any System? 89.What is the performance metrics used to 89.What evaluate recruiter's performance? 90.Various metrics related to recruitment what are 90.Various they. How are they captured, who uses them, what frequency?

ICICI Prudential LIC Ltd. is a leading business consulting and technology services firm that helps Global 2000 clients plan their investments in technology, design and implement projects that drive competitive advantage, and manage critical applications to improve business performance. Based in Cambridge, Massachusetts, they have locations in Canada, Germany, India, the United Kingdom, and the United States. What they do To improve the clients' business performance, they help them plan their investments in technology; design and implement projects that drive competitive advantage, and manage critical applications. Across their service areas, they use their unique model to help clients solve their most important business and technology challenges, providing greater certainty of success and better value than any other option.

Plan They align business, customer, and technology goals to create executable road maps that improve business performance through technology. 91.Business & IT planning 91.Business 92.E-business & web strategy 92.E-business 93.Industry business process consulting 93.Industry Create They use their expertise in business processes, enabling technologies and applications, and usercentered design to create solutions that achieve measurable business results. 94.Business intelligence 94.Business 95.Business process redesign 95.Business 96.Content management 96.Content 97.Customer relationship management 97.Customer 98.E-business & web solutions 98.E-business 99.Enterprise architecture & integration 99.Enterprise 100.Enterprise learning solutions 100.Enterprise 101.Industry-focused solutions 101.Industry-focused 102.Program management services 102.Program

103.Supply chain services 103.Supply 104.User research & design 104.User Manage & outsource They apply their deep expertise in industry packages and e-business applications to increase service levels, reduce costs, and maximize returns from existing systems. 105.Application management services 105.Application 106.Outsourcing services 106.Outsourcing 107.QA & testing services 107.QA

Findings with the help of the questionnaire Structure of the Hiring Team In ICICI Prudential LIC Ltd. there is a team of about 45 people in the recruitment function. These people are divided on the basis of tracks. The different tracks are: Trainee, Associate, Sr. Associate, Manager, GSS, Specialist & Research Track. These tracks are on the basis of levels existing in ICICI Prudential So every track hires for that particular level only. However GSS track hires for all the internal teams of ICICI Prudential for e.g. HR, Staffing, Learning and Development, IT etc. While the specialist track takes care of specific requirements. In ICICI Prudential the hiring is general and not BU specific. After the person his hired, his staffing is taken care of by the staffing team. The research track provides all the back end support to the recruiters. These can be headhunting, mapping the industry etc.

Locational Strategy Hiring is centralised from Mumbai. However, there is a small hiring team in Delhi as well. Application There is no provision of applying through hardcopy. People can apply through online resume format or in form of referrals or can send their profile after talking to any recruiter directly. Levels The organisational hierarchy looks like this-: It starts from Associate-Trainee after which person grows to become an Associate. As Associate there are 2 levels L1 & L2. L2 is basically a readiness program to grow to the next level in the hierarchy i.e. Sr. Associate. There are some changes in competencies and compensation levels between L1 & L2. Similar is the case with Sr. Associates. So as Associate L1 (1-4 yrs exp) will be a software engineer and L2 (3-5 yrs), as senior software engineer. Sr. Associate L1 (4-7 yrs exp) can be taken as a Team Lead/Module lead while a L2 (6-8 yrs exp) will be something like a

Project Lead close to Project Manager. After Sr. Associate a person will grow to become a Manager (7-14 yrs exp) and then Sr. Manager (12-18 yrs) and then Director. Although there is an indicative years of experience at every level, but the exceptions are always taken care of. Fast trackers are always recognized and exceptions are made. Educational Qualification of laterals hired There are no specific preferences to hire engineers etc. as lateral hire. Even simple graduates are hired, but never such problem has occurred. Even though a person is a just a simple graduate but he is good enough to be hired then normally he might have done some course or the other to complete that 16 yrs of education. So normally such problems are not faced. But even then if something like this do occur then companies use their Cab system wherein theyre given authority to send certain no. of people to a particular country for work purpose.

Stages in the Recruitment Process The process starts with the phone-screen done by the recruiter on the phone with the help of the phone-screen document provided to the recruiter for a particular position. It contains the answers etc. After the phonescreen, the candidate is invited for 6 hour long process to the organisation normally to be finished in a go. It starts with a Technical Test, followed by a technical review. This technical test and technical review combined together makes Domain Skills Round. After Domain, comes the Core Skills. According to the competency model of ICICI Prudential, there are 6 core skills like Business Development, Task Management, Industry Knowledge, Communication Skills etc. These 6 core skills are required in different composition according to a particular role. After Core Skills comes the Core Values. Its more like an HR round but HR people do not take it. The only HR person involved in the process if recruiter. Even he is not involved in the evaluation of the candidate. He is just a coordinator. This process is based on competency based interview concept. The people who are on the panel have to be certified by internal learning and development team that

theyre certified and trained to take interview, and then only they can. After Core Values the last round is Director Sell wherein a director meets the person and finally recruiter closes the candidate and gives him the offer letter after salary negotiations.

Use of Aptitude/Psychometric Tests ICICI Prudential also use to take different kinds of Aptitude or Psychometric Test. Recruitment channel usage break-up analysis Job boards 12% Employee Referrals 40% Consultants 10% Others (Walk-ins, direct, networking, contractor conversion) 8% Research Track 30%

Fee Structure Paid to the Consultants Its on the basis of level. For Associates & Sr. Associates its 8.33%. For Managers its 12.33 %. Contract Staffing Yes, they do have third party contract staffing for technical positions. These are for those needs that have come up as urgent and immediate with the changing needs of the business. So these people are hired on contract and then later on converted or not converted into permanent employees according to the situation and the need. In Q1 of 2005 they 62 such requirements from the delivery team which they were able to meet successfully.

ICICI Prudential Salary (Hiring Matrix) for Technical

Employee Grades ICICI Prudential has a hiring matrix in place that shows ranges of salary for different roles and different levels. The approximate ranges are like this: Associate - Trainee : 15,000 p.m. Associate (Including both L1 & L2) : 2.8 lacs 5.4 lacs p.a. Sr. Associate (Including both L1 &L2) -: 5.4 lacs 9.5 lacs p.a. Manager (Technology & Program Management both) -: 10.0 lacs 16.0 lacs p.a. Sr. Manager -: 16.0 lacs 24.0 lacs p.a. Director -: 28.0 lacs 36.0 lacs p.a. ICICI Prudential has these ranges that decide at what penetration in the range a person should be paid. These ranges are decided after the process of the person is over and all the interviewers sit together for a debrief process. Till 25% range penetration, a recruiter need not ask anyone. For 25%-50% range penetration, a recruiter needs to take permission from the delivery team. For 50%-70% range penetration, a recruiter needs to take permission from the managing director of Indian operations of ICICI Prudential. For 70%-100% range

penetration, a recruiter needs to take permission from Mr. K.V. Kamath or Ms. Shikha Sharma (Co-CEOs). Innovative Compensation Practices Yes, ICICI Prudential do have some innovative compensation schemes. They do provide joining bonus, either to make the person join early or to buy his notice period. They also provide relocation expenses where needed. Hot Skills Classifications There is no hot skills classification in ICICI Pudential. Reference Check Although reference check is not mandatory at all the levels. But when it is done, it is done by the internal recruiters and not outsourced to any outside agency.

Outsourcing of Initial Screening of Resumes

No outsourcing of initial screening of resumes. Use of Online/Automated system for Recruitment Workflow There is an application tool called Sharepoint which is used by all the internal team of ICICI Prudential including Hiring, HR, and Staffing etc. It contains all the information of the hired candidates. As soon as a person is hired his details will go to Sharepoint. These details will include each and every thing like his joining date, his interviewers, his feedback, his salary details, his profile etc. When his name is added there, the learning and development team will automatically pick up his details and will prepare for his joining and will plan for his induction process. Also the corporate HR i.e. People Strategy Organisation (PSO) will send a Quality Start mail to the concerned people to take care of his joining. Quality start will take care of IT formalities, learning and development formalities, and finance deptt. formalities. This is to

ensure that each and every persons detail is updated and every necessary preparation is done before a person joins in the organisation. Also there is another tool called Microsoft Visual Source Safe which is used as a common repository for all the documentations regarding Hiring Schedule, Offer letters, Salary Ranges Model, Quarter Plan, Interview Schedules, Forms, Exercises etc., feedback of the panel and the feedback of the interviewee, Hiring Presentation. Also monster is also used in the hiring process. Every profile submitted on the intranet or website goes to the monster. A person is there who takes care of these profiles that comes to monster and sends them to POC of the relevant track. All the information that is saved in Sharepoint, goes in monster as well. Process of getting the panel There is a separate person in every track to take care of all this. It is with the help of meeting request that this person sends to different people. Whosoever accepts is signed in for the process or for the day or weekend.

Hiring being very important and well taken care of by leadership team, the recruiting culture is great. Therefore, there is always 100% support from the delivery people towards hiring. Candidate Experience Office tours, no wait time, lunch and sacks are some of the common ways of making an impression on the minds of the candidate. Feedback is taken from him and is always acted upon. Walk-ins Tracker and process There are normally scheduled walk-ins with the help of consultants or through yahoo e-groups, recruiters calling etc. every person who comes into the organisation, his details are entered in applicant tracking system (ATS). This also helps in keeping a check that a person doesnt apply to the organisation before 6 months again.

Post-Recruitment Joining & Induction

There is no system of off-cycle hires in ICICI Prudential. There are some days in every quarter decided as the Sap Start days at the start of the quarter. The people can join the organisation on these days only so that there is a regular and planned induction batch is in place. This helps in making and maintaining the impression on the persons mind. Overall Coordination with other HR Functions like staffing etc. With the help of Sharepoint it is taken care of. Recruiters Performance Metrics Recruiters performance is judged on the basis of no. of hires & starts in a quarter. Apart from that the no. of candidates a recruiter lined up in the quarter, no show ratio among those, no. of hire loss and no. of offer loss, panels feedback are also taken care of when evaluating a recruiters performance. There are daily, weekly and quarterly recruiters. Various Metrics Related to Recruitment checkpoints at different levels for the

With the help of Sharepoint, various automated reports can be generated. There is a separate person in the hiring team who is taking care of these operations and strategic issues related to recruitment with the help of director hiring. Various reports that are generated are 108.Target Vs. Actual Hires 108.Target 109.Hire Vs. Losses 109.Hire 110.Reason for losses 110.Reason 111.Percentage performance of each source of 111.Percentage recruitment 112.Cost per hire 112.Cost 113.Analysis of most effective source of recruitment 113.Analysis 114.Cost of each source of recruitment 114.Cost 115.Consultant Performance report 115.Consultant 116.Track-wise performance on all the same criteria to 116.Track-wise judge the Star track 117.Conversion ratio in terms of Candidates Invited 117.Conversion Vs Hired 118.Review of weekly target in the weekly meeting on 118.Review all these areas. 119.Candidates lined up Vs No Shows 119.Candidates

CONCLUSION

This research study examines the recruitment process and systems of ICICI PRUDENTIAL LIC Company Ltd in detail. The objective of this research was to comprehensively study the recruitment systems and practices ICICI PRUDENTIAL LIC Company Ltd. This study sheds light on how ICICI PRUDENTIAL LIC Company Ltd have different recruitment strategies and different ways of achieving the goal. For e.g. some organisations have BU specific recruitment team and they hire on requisition basis, while on the other hand some organisations have general hiring and one single hiring team hiring for all the BUs. Some organisations have centralised hiring while others have location wise hiring. Also, different organisations have different hierarchies. Although most of the organisations now have broad banding in place but some organisations structure are more flatter than others that helps them in attracting right talent. The recruitment and selection process of different organisations also tends to be different. This what

decides

the

culture

of

the

organisation.

Every

organisation has some requirements that a candidate needs to fulfill. So every organisation judges a candidate on its own requirement. When there is a match, the person gets hired. Also the various sources of recruitment are present in different percentage performance in different organisations. Some have high percentage hires from referrals while others have to depend upon consultants for that. It is the case with the compensation packages as well, paid to these people. ICICI PRUDENTIAL LIC Company Ltd have different approaches to find out the amount of package a candidate needs to be offered. Some have the inbuilt nature of taking care of equity aspect of the organisation while others are very flexible and pay what a person is worth in the market. Although the above-mentioned policies and conditions are very specific from organisation to organisation, there can be certain policies and practices that are worth implementing in an organisation as well after tailoring it according to the needs of the organisation.

But there are certain practices & systems that can be applied in any organisation depending upon what is suitable for that organisation in the minds of the decision makers. This is where this research is different as with the help of this project the ways in which various firms handle recruitment have been identified. How do they make their job easy with the help of certain automated tools and systems. What are those best practices that leave a mark on the minds of the candidate. How do successful organisation having smooth recruitment process keep maintaining their smoothness system. How exactly the organisations keep a track of the entire recruitment process about each and every candidate, day-in-day-out. All these questions have been answered in this project report. This report can be of immense use to streamline any organisations recruitment process. Also it is a result of comprehensive industry survey and gives a clear and true picture of whats happening in the with efficient tracking and reporting

industry. Every organisation has its own way of working and recruiting. It is very hard to copy each other when the organisational set up is completely different in different organisations. But it always helps to know what competitors are doing and to try and improve an organisation so that its always just a step ahead of the competition. This report can surely help in that.

The researcher has done an exploratory research to figure out the effectiveness of the distribution channel network of ICICI Prudential, Safdar Jung branch. He had a sample size of 25 from among the advisors in the organization. The date collected was analyzed qualitatively to figure out the factors leading to higher sales by the advisors and recommending the same to increase the effectiveness of the channel network. The researcher also conducted a test of learned helplessness on the advisors to study the same on their job profile.

FINDINGS
120.The female advisor are selling more policy than 120.The the male advisor 121.The advisor who are married performing well and 121.The selling more policy than the advisor who are unmarried . 122.The aged advisor (31 40years) are able to sell 122.The more policy than the younger (19 25years) advisors. 123.Commission, incentive and reward structure of 123.Commission, ICICI Prudential Life Insurance Co. Ltd. And join field visit. 124.The rating of the inspirational factor:124.The 125.Commission, incentive 125.Commission, structure 126.Motivational session 126.Motivational 127.Joint field visit 127.Joint and reward

From the learned helplessness it is seen 2 out of 10 advisors have obtained high level where as the rest are in the moderate level.

RECOMMENDATION
128.To increase the increase the job satisfaction level 128.To of the advisors the company should concentrate mainly on the commission, incentive and reward structure rather than the motivational session and joint field visit. 129.Ideal advisor should be married male of the age 129.Ideal group 31 to 40 or single female of the age group 26 to 30 years. 130.ICICI Prudential should try to allure experienced 130.ICICI insurance agents to sell their product. 131.Educational qualification is not factor of being an 131.Educational effective advisor.

BIBILIOGRAPHY

132.www.iciciprulife.com 132.www.iciciprulife.com 133.www.icicipruuniverse.com 133.www.icicipruuniverse.com 134.Human Resource Management By T. H. 134.Human Chhabra 135.Human Resource Management By Arun 135.Human Monappa