SUMMER INTERNSHIP REPORT

ON
RECRUITMENT & SELECTION PROCESS IN ICICI
PRUDENTIAL

Towards the partial fulfillment of the requirement

for the award of the degree of

Master of Business Administration

Affilated to

DR. A.P.G. ABDUL KALAM TECHNICAL UNIVERSITY, LUCKNOW

Under the Supervision of Submitted By

Dr. Monika Agarwal Devesh Bajpai
(Director) MBA IIIrd Sem
Roll No. 2102030700020

RAMESHWARAM INSTITUTE OF TECHNOLOGY AND

MANAGEMENT, LUCKNOW
SESSION 2022-2023
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 DECLARATION

I, Devesh Bajpai student of Master of Business Administration (MBA)

from Rameshwaram Institute Of Technology And Management declare that
this project is my original work and it has not previously formed the basis of
award of any degree or similar other title.

Devesh Bajpai
Roll No. : 2102030700020
MBA IIIrd Sem

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 ACKNOWLEDGEMENT

With deep sense of gratitude, I want to acknowledgment my guide

Dr. Monika Agarwal , for her valuable guidance and timely suggestion offered to me
throughout the course of my project. I take an opportunity to acknowledge our heartiest
thanks to my director and all the staff of the MBA department for making available all
facilities in fulfilling the requirement for the reasonable work.

Last but not least, I am also very much thankful to my parents, my seniors,
my batch mates and friends especially for their continuous encouragement
and moral support in preparing this project.

(Devesh Bajapi)
Roll No. : 2102030700020
MBA IIIrd Sem

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 PREFACE

People are a company’s most important assets. They can make or break the fortunes of a business. In
today’s highly competitive business environment placing the right people in the right position is very
critical for the success of any organization.

The recruitment and selection decision is of prime importance as it is the vehicle for obtaining the best
possible person-to-job fit that will, contribute significantly towards the Company's effectiveness. It is
also becoming increasingly important, as the Company evolves and changes, that new recruits show a
willingness to learn, adaptability and ability to work as part of a team. The Recruitment & Selection
procedure ensures that these criteria are addressed  

In this project I have studied Recruitment and Selection process of ICICI Prudential Life Insurance and
attempted to provide some ways so as to make recruitment more effective and to reduce the cost of
hiring an employee.

I am privileged to be one of the students who got an opportunity to do my training with ICICI
Prudential Life Insurance.  My involvement in the project has been very challenging and has provided
me a platform to leverage my potential in the most constructive way.

ICICI Prudential Life insurance is one of India's leading financial institutions offering complete
financial solutions that encompass every sphere of life. In a short span of time ,ICICI has set an
example by having a steady and confident journey to growth and success.

During the training period I have studied deeply the process of hiring in ICICI Prudential Life insurance
and did a SWOT analysis of ICICI Prudential Life Insurance to find out the existing shortcomings and
potential threats and thereby recommended suggestions.

This project however is an attempt to share as best as possible my experience in corporate world with
all my colleagues and my faculty.

I would be delighted to receive reader’s comments which maybe valuable lessons for my future
projects.
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 Content
1) Introduction of the Study
2) Objective(s) of the Study
3) Literature Review
4) Research Methodology
5) Research Hypotheses
6) Research Model
7) Research Plan
8) Sampling Plan
9) Research Procedure
10) Data analysis & Interpretation
11) Results & Discussions
12) Suggestions/Recommendations
13) Limitations and Scope of Future Research
14) Conclusion
15) Bibliography

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 Project Synopsis
The project synopsis need to be prepared keeping in mind the following points.

a) Title of the project – “Recruitment and Selection Process of ICICI

Prudential”

b) Objectives of the Study - research objectives as falling into a number of following

broad groupings:

1. To gain familiarity with a phenomenon or to achieve new insights into it.

2. To portrays accurately the characteristics of the particular individual, situation or a

group.

3. To determine the frequency with which an event occurs or with which it is associated

with something else.

4. To test a hypothesis of casual relationship between variables studies are known as

research study.

Thus, it becomes clear that the main objective of Research Methodology is

a) To determine market penetration of company.

b) To determine the ratio of brand sales to the competitors products.

c) Problem Statement / Limitation – Every task is undertaken with an objective and

accomplishment of this objective determines our success

Task:

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The recruitment at ICICI Prudential Life Insurance involved a lot search from the database and

calling up candidates to check whether they fit the job specification.

Difficulties:
  Candidates were reluctant to talk at times;

 Candidates who were contacted were not interested in Insurance on many occasions;

 Candidates who were scheduled for interview would not turn up;

 Run out of database many times since most of them would have already been

contacted;

Task:

Candidates were to be searched from the job portals and called up to be scheduled for an

interview.

Difficulties:

 At times many people had for couple of hours to work on the computer;

 Since STD calls had to be made, the availability of phone was limited, so there was

greater coordination required with respect to its usage and maintains a time slot so that

other person has a chance to use.

d) Research Methodology –

RESEARCH METHODOLOGY is a way to systemically solve the research problem. It may

be understood as a science of studying how research is done.

In my summer training report I used descriptive research method. 7

RESEARCH PROCESS
Before embarking on the detail of research methodology and the techniques it seems

appropriate to present the brief overview of the research process. Research process consists of

series of action or steps necessary to effectively carried out the research and the desired

sequencing of these steps one should remember that the desired sequencing of these steps. One

should remember that various steps involve in a research process are not mutually exclusive

nor they are separate and distinct they do not necessarily follow each other. any specific order

and researcher have to be constantly anticipating at each steps in the research process however

the following order concerning various steps provide a useful procedural guideline regarding

the research process.

DEFINING THE PROBLEM :

The objective of my project was to undertake a study on the evaluation of recruitment &

selection program in the ICICI with a view to know the process and space for improvement in

the process of recruitment and selection program imparted by ICICI Prudential.

DEVELOP A RESEARCH DESIGN

Research design is a conceptual structure within which research is conducted; it is basically the

blue print for a collection of data, measurement and analysis of data. “A research design is the

arrangement of conditions for collection and analysis of data in manner that aims to

combine relevance to research purpose with economy in procedure”.

My research design is of descriptive type. A descriptive research design is focus on8the

discovery of new ideas. it is generally based on secondary data that are already available.
 My research design is of descriptive type because in my training I tried to judge a

relationship between different variables like interpersonal skills of employees, overall

recruitment of the candidates and recruit and select them in the organization. for that reason it

is a descriptive type of research design.

In my research design I took help of different phenomena's of the organization in hiring

the employees.

TYPES OF RESEARCH DESIGN :

There are 3 types of Research Design :

1. Exploratory Research 2. Descriptive Research 3. Experimental

1. Exploratory Research :

It is one to know why and how certain phenomenon occurs , how consumer evaluate

quality , tangible features , replacement policy warranty.

2. Descriptive Research :

It is carried out to describe a market characteristics to understand the consumer buyer

behavior.

3. Experimental Research:

It is done to establish cause and affect relationship. As - The influence of in come and life

style on purchase decision.

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METHODS OF STUDY

1. QUESTIONNAIRE METHOD
 In this method a detailed questionnaire is prepared by the job

analyst and is distributed among the workers. The workers answer

the questions to the best to their knowledge and belief. Employee’s

co-operation can more easily be achieved by explaining the entire

program fully in detail to the representatives of employees

Assistance of supervisors can also be sought.

2. PERSONAL INTERVIEW

Job analyst uses interview as a prime method of data collection. He

contacts the workers and the supervisor concerned and asks

questions regarding the various jobs performed by them for

collection the information.

3. DATA COLLECTION

TYPES OF DATA :

1. PRIMARY DATA 2. SECONDARY DATA

METHODS & TOOLS FOR DATA COLLCTION

Method : Survey

Tool : Questionnaire

Secondary data

Internet
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Books 0

Journal
 Manuals

Annual reports

4. TYPES OF ANALYSIS

1. DATA ANALYSIS 2. REPORT ANALYSIS

5. DATA INTERPRETATION AND DATA REPRESENTATION

Sample Survey: Employees.

Area of Survey: Lucknow

Time Period: 6 WEEKS.

Data Type: Primary Data.

Sample Selection: Convenience.

Sample size: 100 employees.

SAMPLING

Sampling procedure includes finite types of universe with random sampling which comes

under probability method of sampling because under this method every item of the universe

has a equal chance of being selected and no place for biases ness.

In my research use random sampling which is a part of random sampling with a systematic

design.

SAMPLING DESIGN
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A sampling design is a definite plan for obtaining a sample for a given population. 1
There are 150 employees in office of ICICI Prudential, I have chosen a sample size of the 100

employee.

TYPES OF SAMPLING :

There are 2 types of sampling :

1. Probability 2. Non - Probability

INTRODUCTION OF THE STUDY

OVERVIEW

The story of insurance is probably as old as the story of mankind. The same instinct that

prompts modern businessmen today to secure themselves against loss and disaster existed in

primitive men also. They too sought to avert the evil consequences of fire and flood and loss of

life and were willing to make some sort of sacrifice in order to achieve security. Though the

concept of insurance is largely a development of the recent past, particularly after the industrial

era – past few centuries – yet its beginnings date back almost 6000 years.

The first two decades of the twentieth century saw lot of growth in insurance business. From

44 companies with total business-in-force as Rs.22.44 crore, it rose to 176 companies with total

business-in-force as Rs.298 crore in 1938. The Insurance Act 1938 was the first legislation

governing not only life insurance but also non-life insurance to provide strict state control over

insurance business.  to nationalization and back to a liberalized market again. Tracing the
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developments in the Indian insurance sector reveals the 360 degree turn witnessed over a
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period of almost two centuries.

Present Scenario
The Government of India liberalized the insurance sector in March 2000 with the passage of

the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry restrictions

for private players and allowing foreign players to enter the market with some limits on direct

foreign ownership.

The opening up of the sector is likely to lead to greater spread and deepening of insurance in

India and this may also include restructuring and revitalizing of the public sector companies. In

the private sector 14 life insurance and 8 general insurance companies have been registered. A

host of private Insurance companies operating in both life and non-life segments have started

selling their insurance policies..

Life Insurance Market

The Life Insurance market in India is an underdeveloped market that was only tapped by the

state owned LIC till the entry of private insurers. The penetration of life insurance products

was 19 percent of the total 400 million of the insurable population. The state owned LIC sold

insurance as a tax instrument, not as a product giving protection. Most customers were under-

insured with no flexibility or transparency in the products. With the entry of the private

insurers the rules of the game have hanged.

The 12 private insurers in the life insurance market have already grabbed nearly 9 percent of

the market in terms of premium income. The new business premiums of the 12 private players

have tripled to Rs 1000 crore in 2002- 03 over last year. Innovative products, smart marketing

and aggressive distribution. The private insurers also seem to be scoring big in other ways-

they are persuading people to take out bigger policies. Buoyed by their quicker than expected
1
success, nearly all private insurers are fast- forwarding the second phase of their expansion
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plans.
Major Insurance Players

Licenses have been issued for the following companies

Ø      ICICI Prudential  Life Insurance Limited

Ø      ICICI Prudential Life Insurance Company Limited

Ø      HDFC Standard Life Insurance Company Limited

Ø      Birla Sun Life Insurance Company Limited

Ø      TATA AIG Life Insurance Company Limited

Ø      Max New York Life Insurance Company Limited

Ø      SBI – Cardiff Life Insurance Company Limited

Ø      ING Vysya Life Insurance Company Limited

Ø      Bajaj Allianz Life Insurance Company Limited

Ø      MetLife Life Insurance Company Limited

Ø      Aviva Life Insurance Company Limited

Ø      AMP Sanmar Life Insurance Company Limited

Ø      Sahara India Life Insurance Limited

Ø      Sri Ram Life Insurance Limited 1

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 Protection of the interests of policyholders:

IRDA has the responsibility of protecting the interest of insurance policyholders. Towards

achieving this objective, the Authority has taken the following steps:

i) IRDA has notified Protection of Policyholders Interest Regulations 2001 to provide for:

policy proposal documents in easily understandable language; claims procedure in both

life and non-life; setting up of grievance redressal machinery; speedy settlement of claims;

and policyholders' servicing. The Regulation also provides for payment of interest by

insurers for the delay in settlement of claim.ii)   The insurers are required to maintain

solvency margins so that they are in a position to meet their obligations towards

policyholders with regard to payment of claims.

iii)    It is obligatory on the part of the insurance companies to disclose clearly the benefits,

terms and conditions under the policy. The advertisements issued by the insurers should not

mislead the insuring public.

iv)   All insurers are required to set up proper grievance redress machinery in their head office

and at their other offices. The Authority takes up with the insurers any complaint received

from the policyholders in connection with services provided by them under the insurance

contract.

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OBJECTIVE OF THE STUDY
“What to researcher want to achieve is objective.” The purpose of research is to know the

answers to questions through the application of scientific procedures.

The main aim of research is to find out the truth which is hidden and which has not been

discovered as yet. Though each research study has its own specific purpose, we may think of

research objectives as falling into a number of following broad groupings:

5. To gain familiarity with a phenomenon or to achieve new insights into it.

6. To portrays accurately the characteristics of the particular individual, situation or a

group.

7. To determine the frequency with which an event occurs or with which it is associated

with something else.

8. To test a hypothesis of casual relationship between variables studies are known as

research study.

Thus, it becomes clear that the main objective of Research Methodology is

a) To determine market penetration of company.

b) To determine the ratio of brand sales to the competitors products.

LITERATURE REVIEW
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COMPANY HISTORY, STRENGTHS & ACTIVITES

ICICI Prudential Life Insurance

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier

financial powerhouse and Prudential plc, a leading international financial services group

headquartered in the United Kingdom.

ICICI was established in 1955 to lend money for industrial development. Today, it has

diversified into retail banking and is the largest private bank in the country. Prudential plc was

established in 1848 and is presently the largest life insurance company in UK.

ICICI Prudential is currently the No. 1 private life insurer in the country. For the financial

year ended March 31, 2005, the company garnered Rs 1584 crore of new business premium for

a total sum assured of Rs 13,780 crore and wrote nearly 615,000 policies.

The Company recognizes that the driving force for gaining sustainable competitive

advantage in this business is superior customer experience and investment behind the brand.

The Company aims to achieve this by striving to provide world class service levels through

constant innovation in products, distribution channels and technology based delivery. The

Company has already taken significant steps to achieve this goal.India's Number One private

life insurer, ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank-

one of India's foremost financial services companies-and Prudential plc- a leading international

financial services group headquartered in the United Kingdom. Total capital infusion stands at

Rs. 23.72 billion, with ICICI Bank holding a stake of 74% and Prudential plc holding 26%.

ICICI Prudential was the first life insurer in India to receive a National Insurer Financial

Strength rating of AAA (Ind) from Fitch ratings. For three years in a row, ICICI Prudential1has
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been voted as India's Most Trusted Private Life Insurer, by The Economic Times - AC Nielsen

ORG Marg survey of 'Most Trusted Brands'. As we grow our distribution, product range and
customer base, we continue to tirelessly uphold our commitment to deliver world-class

financial solutions to customers all over India.

FACT SHEET

THE COMPANY:

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a

premier financial powerhouse, and Prudential plc, a leading international financial services

group headquartered in the United Kingdom. ICICI Prudential was amongst the first private

sector insurance companies to begin operations in December 2000 after receiving approval

from Insurance Regulatory Development Authority (IRDA).

ICICI Prudential's capital stands at Rs. 23.72 billion with ICICI Bank and Prudential plc

holding 74% and 26% stake respectively. For the first quarter ended June 30, 2009, the

company garnered Rs. 1000 crore of weighted retail + group new business premiums and wrote

over 1 Million retail policies in the period. The company has assets held to the tune of over Rs.

18,400 crore.

ICICI Prudential is also the only private life insurer in India to receive a National Insurer

Financial Strength rating of AAA (Ind) from Fitch ratings. The AAA (Ind) rating is the highest

rating, and is a clear assurance of ICICI Prudential's ability to meet its obligations to customers

at the time of maturity or claims.

For the past six years, ICICI Prudential has retained its position as the No. 1 private life insurer

in the country, with a wide range of flexible products that meet the needs of the Indian
1
customer at every step in life. 
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Distribution

ICICI Prudential has one of the largest distribution networks amongst private life insurers in

India. It has a strong presence across India with over 680 branches and over 235,000 advisors.

The company has over 23 bancassurnace partners, having tie-ups with ICICI Bank, Federal

Bank, South Indian Bank, Bank of India, Lord Krishna Bank, Idukki District Co-operative

Bank, Jalgaon Peoples Co-operative Bank, Shamrao VitICICICo-op Bank, Ernakulam Bank, 9

Bank of India sponsored Regional Rural Banks (RRBs), Sangli Urban Co-operative Bank,

Baramati Co-operative Bank, Ballia Kshetriya Gramin Bank, The Haryana State Co-operative

Bank and ImpICICIUrban Cooperative Bank Limited.

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 products can be enhanced with up to 4

riders, to create a customized solution for each policy holder.

Savings Solutions

 Save’n’Protect is a traditional endowment savings plan that offers life protection

along with adequate returns.

 CashBak is an anticipated endowment policy ideal for meeting milestone expenses

like a child’s marriage, expenses for a child’s higher education or purchase of an

asset.

 LifeTimeSuper  offer customers the flexibility and control to customize the policy to

1
meet the changing needs at different life stages. Each offer 4 fund options —
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Preserver, Protector, Balancer and Maximiser.
  LifeLink Super is a single premium Unit Linked Insurance Plan which combines life

insurance cover with the opportunity to stay invested in the stock market.

 Premier Life Gold is a limited premium paying plan that offers customers life

insurance cover till the age of 75.

 InvestShield Life New is a unit linked plan that provides premium guarantee on the

invested premiums and ensures that the customer receives only the benefits of fund

appreciation without any of the risks of depreciation.

 InvestShield Cashbak is a unit linked plan that provides premium guarantee on the

invested premiums along with flexible liquidity options.

Protection Solutions

 LifeGuard is a protection plan, which offers life cover at very low cost. It is available in

3 options – level term assurance, level term assurance with return of premium and

single premium.

 HomeAssure is a mortgage reducing term assurance plan designed specifically to help

customers cover their home loans in a simple and cost-effective manner.

Child Plans

 SmartKid education 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 child’s life. SmartKid

plans are also available in unit-linked form – both single premium and regular

premium.
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0
Education Insurance Plans
  Education insurance under the SmartKid brand provides 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 child's life. SmartKid plans are also available in unit-linked

form - both single premium and regular premium

Retirement Solutions

 ForeverLife is a retirement product targeted at individuals in their thirties.

 Market-linked retirement products

 LifeTime Super Pension  is a regular premium market-linked pension plan.

 Golden Years: is a limited premium paying retirement solution that offers tax

benefits up to Rs 100,000 u/s 80C, with flexibility in both the accumulation and

payout stages.

Health Solutions

 Health Assure and Health Assure Plus:  Health Assure is a regular premium plan

which provides long term cover against 6 critical illnesses by providing

policyholder with financial assistance, irrespective of the actual medical expenses.

Health Assure Plus offers the added advantage of an equivalent life insurance cover

 Cancer Care: is a regular premium plan that pays cash benefit on the diagnosis as

well as at different stages in the treatment of various cancer conditions.

 Diabetes Care and Diabetes Care Plus*: 1st ever critical illness insurance cover2for
1
diabetics.

 Hospital Care*: Hospital Care offers a Cashless hospitalization facility in more

then 3000 network hospitals

  Crisis Cover : is a 360-degree product that will provide long-term coverage against

35 critical illnesses, total and permanent disability, and death

Note (*) products Re-launched on 1st July 2006

Group Insurance Solutions

ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance

benefits to their employees.

ICICI Pru Group Gratuity Plan: ICICI Pru’s group gratuity plan helps employers fund their

statutory gratuity obligation in a scientific manner. The plan can also be customized to

structure schemes that can provide benefits beyond the statutory obligations.

ICICI Pru Group Superannuation Plan: ICICI Pru offers a flexible defined contribution

superannuation scheme to provide a retirement kitty for each member of the group. Employees

have the option of choosing from various annuity options or opting for a partial commutation

of the annuity at the time of retirement.

ICICI Pru Group Term Plan: ICICI Pru’s flexible group term solution helps provide affordable

cover to members of a group. The cover could be uniform or based on designation/rank or a

multiple of salary. The benefit under the policy is paid to the beneficiary nominated by the

member on his/her death.

Flexible Rider Options

ICICI Pru Life offers flexible riders, which can be added to the basic policy at a marginal cost,
2
depending on the specific needs of the customer. 2
1.      Accident Benefit: If death occurs as the result of an accident during the term of the policy,

the beneficiary receives an additional amount equal to the rider sum assured under the policy.

If the death occurs while traveling in an authorized mass transport vehicle, the beneficiary will

be entitled to twice the sum assured as additional benefit.

2.     Accident & Disability Benefit: This rider option pays 10% the sum assured under the rider

every year till next 10 years on Accidental Permanent Disability of 2 Organs.

3.    Critical Illness Benefit: protects the insured against financial loss in the event of 9

specified critical illnesses. Benefits are payable to the insured for medical expenses prior to

death.

4.      Income Benefit: This rider pays the 10% of the sum assured to the nominee every year,

till maturity, in the event of the death of the life assured. It is available on SmarKid, SecurePlus

and CashPlus

5.      Waiver of Premium: In case of total and permanent disability due to an accident, the

premiums are waived till maturity. This rider is available with SecurePlus and CashPlus.

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Choice of Six Investment Options:-

ICICI prudential offers you the opportunity of selecting between investment options to match

your investment priorities.

1)     Protector:-

An Investment Option with investment indebt and money market instruments.

2)     Maxi miser:-

 An investment option with investment in equity and equity related instruments.

3)     Balancer:-

An investment option with investment in a mix of equity and debt oriented instruments.

4)      Preserver:-

An investment option with investment in low-risk instruments like cash and call money

markets.

5)       Flexi Growth:-

New Fund (NFO) launched in March 2007, Long term returns from an equity portfolio

lare,mid and small cap companies.

6)       Flexi balanced:-

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4
Balance of capital appreciation and stable returns from an equity (large,mid & small

cap companies) & debt portfolio.

ICICI Prudential Edge - What makes us No.1

The ICICI Prudential edge comes from our commitment to our customers, in all that we do -

be it product development, distribution, the sales process or servicing. Here's a peek into what

makes us leaders.

1. Our products have been developed after a clear and thorough understanding of customers'

needs. It is this research that helps us develop Education plans that offer the ideal way to

truly guarantee your child's education, Retirement solutions that are a hedge against

inflation nd yet promise a fixed income after you retire, or Health insurance that arms you

with the funds you might need to recover from a dreaded disease.

2. Having the right products is the first step, but it's equally important to ensure that our

customers can access them easily and quickly. To this end, ICICI Prudential has an advisor

base across the length and breadth of the country, and also partners with leading banks,

corporate agents and brokers to distribute our products

3. Robust risk management and underwriting practices form the core of our business. With

clear guidelines in place, we ensure equitable costing of risks, and thereby ensure a smooth

and hassle-free claims process.

4. Entrusted with helping our customers meet their long-term goals, we adopt an investment

philosophy that aims to achieve risk adjusted returns over the long-term.

5. Last but definitely not the least, our 16,000 plus strong team is given the opportunity to learn

and grow, every day in a multitude of ways. We believe this keeps them engaged 2and
5
enthusiastic, so that they can deliver on our promise to cover you, at every step in life.

VISION AND MISSION

Their vision is to make ICICI Prudential Life Insurance Company the dominant new insurer in

the life insurance industry. This they hope to achieve through their commitment to excellence,

focus on service, speed and innovation, and leveraging our technological expertise.

The success of the organization will be founded on its strong focus on values and clarity of

purpose. These include:

 Understanding the needs of customers and offering them superior products and

service

 Building long lasting relationships with their partners

 Providing an enabling environment to foster growth and learning for their employees

And above all building transparency in all our dealings.

They believe that they can play a significant role in redefining and reshaping the sector. Given

the quality of their parentage and the commitment of their team, they feel that there will be no

limits to their growth.

DISTRIBUTION

ICICI Prudential has one of the largest distribution networks amongst private life insurers in

India, having commenced operations in 150 cities and towns in India, stretching from Buhl in

the west to Guwahati in the east, and Jammu in the north to Trivandrum in the south. 2
6
The company has 9 bank partnerships for distribution, having agreements with ICICI Bank,

Bank of India, Federal Bank, South Indian Bank, Lord Krishna Bank, and some co-operative
banks,  as well as over 300 corporate agents and brokers. It has also tied up with NGOs, MFIs

and corporate for the distribution of rural policies.

ICICI Prudential has recruited and trained more than 1, 90,000 insurance advisors to interface

with and advice customers. Further, it leverages its state-of-the-art IT infrastructure to provide

superior quality of service to customers

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 HUMAN RESOURCES FUNCTION

Human resource management has an important role to play in equipping institutions to meet

the challenges of an expanding and increasingly competitive sector. As noted, increases in staff

numbers, contractual diversification and changes in the demographic profile of academic staff

are reconfiguring the role and significance of human resource management. HR functions are

responsive to current staffing needs, but can be proactive in reshaping institutional

demographics and staff trends. The HR infrastructure and function in HEIs varies considerably

according to staffing requirements and institutional resources.

HR strategy

HR strategies are intended to shape the activities of the HR offices as well as set evidence-

based goals and targets that will facilitate the sustainability and support the progress of the

institution in relation to its workforce. It is widely accepted that an HR strategy should address

the following elements:

• Determining how many people are needed (numbers and profile), what they are required

to do (job design), how they should do it (work process/business model) and how they should

be grouped and managed (structure)

• Recruiting and retaining staff

• Identification of skills shortages – plus consideration of how those shortfalls will be met (e.g.

recruitment partnering/out-sourcing or in-house development)

• Performance management – clarifying what you want them to do and how you will measure
2
performance
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• How you will reward and acknowledge good performance

• Staff development and training

• Mechanisms for staff feedback and monitoring

• Other elements that need to be considered include: training and qualification upgrade

programmers, induction and exit programmers, issues around ethics in research, complaints

and grievance processes for both staff and students.

Employee consultations

A key mechanism for retaining academic staff is responding to the needs and concerns of staff

members. Employee consultations can serve to determine these needs as well as gauge levels

of satisfaction and motivation among staff. The majority of respondents (57%) indicate that

consultations with academic staff regarding areas of concern, career goals, and needs, occur on

an annual basis with an additional 19% reporting that consultations occur more frequently at

their institutions.

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HUMAN RESOURCE MANAGEMENT FUNCTIONS:-

Manpower planning

The penalties for not being correctly staffed are costly.

 Understaffing loses the business economies of scale and specialization, orders,

customers and profits.

 Overstaffing is wasteful and expensive, if sustained, and it is costly to eliminate

because of modern legislation in respect of redundancy payments, consultation,

minimum periods of notice, etc. Very importantly, overstaffing reduces the

competitive efficiency of the business.

Planning staff levels requires that an assessment of present and future needs of the organization

be compared with present resources and future predicted resources. Appropriate steps then be

planned to bring demand and supply into balance.

Thus the first step is to take a 'satellite picture' of the existing workforce profile (numbers,

skills, ages, flexibility, gender, experience, forecast capabilities, character, potential, etc. of

existing employees) and then to adjust this for 1, 3 and 10 years ahead by amendments for

normal turnover, planned staff movements, retirements, etc, in line with the business plan for

the corresponding time frames.

The result should be a series of crude supply situations as would be the outcome of present

planning if left unmodified. (This, clearly, requires a great deal of information accretion,
3
classification and statistical analysis as a subsidiary aspect of personnel management.)
0
What future demands will be is only influenced in part by the forecast of the personnel

manager, whose main task may well be to scrutinize and modify the crude predictions of other

managers. Future staffing needs will derive from:

 Sales and production forecasts

 The effects of technological change on task needs

 Variations in the efficiency, productivity, flexibility of labor as a result of training,

work study, organizational change, new motivations, etc.

 Changes in employment practices (e.g. use of subcontractors or agency staffs,

hiving-off tasks, buying in, substitution, etc.)

 Variations, which respond to new legislation, e.g. payroll taxes or their abolition,

new health and safety requirements

 Changes in Government policies (investment incentives, regional or trade grants,

etc.)

What should emerge from this 'blue sky gazing' is a 'thought out' and logical staffing demand

schedule for varying dates in the future which can then be compared with the crude supply

schedules. The comparisons will then indicate what steps must be taken to achieve a balance.

That, in turn, will involve the further planning of such recruitment, training, retraining, labor

reductions (early retirement/redundancy) or changes in workforce utilization as will bring

supply and demand into equilibrium, not just as a one–off but as a continuing workforce

planning exercise the inputs to which will need constant varying to reflect 'actual' as against

predicted experience on the supply side and changes in production actually achieved as against

forecast on the demand side. 3

1

Recruitment and selection of employees

Recruitment of staff should be preceded by:

An analysis of the job to be done (i.e. an analytical study of the tasks to be performed to

determine their essential factors) written into a job description so that the selectors know what

physical and mental characteristics applicants must possess, what qualities and attitudes are

desirable and what characteristics are a decided disadvantage;

 In the case of replacement staff a critical questioning of the need to recruit at all

(replacement should rarely be an automatic process).

 Effectively, selection is 'buying' an employee (the price being the wage or salary

multiplied by probable years of service) hence bad buys can be very expensive. For

that reason some firms (and some firms for particular jobs) use external expert

consultants for recruitment and selection.

 Equally some small organizations exist to 'head hunt', i.e. to attract staff with high

reputations from existing employers to the recruiting employee

 However, the 'cost' of poor selection is such that, even for the mundane day-to-day

jobs, those who recruit and select should be well trained to judge the suitability of

applicants.

The main sources of recruitment are:

 Internal promotion and internal introductions (at times desirable for morale

purposes)

 Careers officers (and careers masters at schools)

 University appointment boards

3
 Agencies for the unemployed 2
 Advertising (often via agents for specialist posts) or the use of other local media

(e.g. commercial radio)

Where the organization does its own printed advertising it is useful if it has some identifying

logo as its trade mark for rapid attraction and it must take care not to offend the sex, race, etc.

antidiscrimination legislation either directly or indirectly. The form on which the applicant is to

apply (personal appearance, letter of application, completion of a form) will vary according to

the posts vacant and numbers to be recruited.

It is very desirable in many jobs that claim about experience and statements about

qualifications are thoroughly checked and that applicants unfailingly complete a health

questionnaire (the latter is not necessarily injurious to the applicants’ chance of being

appointed as firms are required to employ a percentage of disabled people).Before letters of

appointment are sent any doubts about medical fitness or capacity (in employments where

hygiene considerations are dominant) should be resolved by requiring applicants to attend a

medical examination. This is especially so where, as for example in the case of apprentices, the

recruitment is for a contractual period or involves the firm in training costs. Interviewing can

be carried out by individuals (e.g. supervisor or departmental manager), by panels of

interviewers or in the form of sequential interviews by different experts and can vary from a

five minute 'chat' to a process of several days. Ultimately personal skills in judgment are

probably the most important, but techniques to aid judgment include selection testing for:

 Aptitudes (particularly useful for school leavers)

 Attainments

 General intelligence

(All of these need skilled testing and assessment.) In more senior posts other techniques are:

3
 Leaderless groups 3
 Command exercises

 Group problem solving

(These are some common techniques - professional selection organizations often use other

techniques to aid in selection.)

Training in interviewing and in appraising candidates is clearly essential to good recruitment.

Largely the former consists of teaching interviewers how to draw out the interviewee and the

latter how to rate the candidates. For consistency (and as an aid to checking that) rating often

consists of scoring candidates for experience, knowledge, physical/mental capabilities,

intellectual levels, motivation, prospective potential, leadership abilities etc. (according to the

needs of the post). Application of the normal curve of distribution to scoring eliminates freak

judgments.

Developing a HRM strategy

Faced with rapid change organizations need to develop a more focused and coherent approach

to managing people. In just the same way a business requires a marketing or information

technology strategy it also requires a human resource or people strategy.

In developing such a strategy two critical questions must be addressed.

 What kinds of people do you need to manage and run your business to meet your

strategic business objectives?

 What people programs and initiatives must be designed and implemented to attract,

develop and retain staff to compete effectively?

In order to answer these questions four key dimensions of an organization must be addressed.

These are:
3
4
 Culture: the beliefs, values, norms and management style of the organization

 Organization: the structure, job roles and reporting lines of the organization
  People: the skill levels, staff potential and management capability

 Human resources systems: the people focused mechanisms which deliver the

strategy - employee selection, communications, training, rewards, career

development, etc.

Frequently in managing the people element of their business senior managers will only focus

on one or two dimensions and neglect to deal with the others. Typically, companies reorganize

their structures to free managers from bureaucracy and drive for more entrepreneurial flair but

then fail to adjust their training or reward systems.

When the desired entrepreneurial behavior does not emerge managers frequently look confused

at the apparent failure of the changes to deliver results. The fact is that seldom can you focus

on only one area. What is required is a strategic perspective aimed at identifying the

relationship between all four dimensions.

If you require an organization which really values quality and service you not only have to

retrain staff, you must also review the organization, reward, appraisal and communications

systems.

Human Resource Management

Definition & Scope

HRM is a management function that helps managers’ recruit, select, train and develops

members for an organization .HRM is concerned with the people’s dimension in organizations.

The following three definitions collectively cover all the points: 3

5
 1. …a series of integrated decision that forms the employment relationship; their

quality contributes to the ability of the organization and employees to achieve their

objective.

2. …is concerned with his people dimension in management. Since every organization

is made up of people, acquiring their services , developing their skills, motivating them

to higher levels of performance and ensuring that they continue to maintain their

commitment to the organization are essential to achieving organizational objectives.

3. …management is the planning ,organizing , directing and controlling of the

procurement, development, compensation, integration ,maintenance and separation of

human resource to the end that individual organizational an social objectives are

accomplished .

Thus, HRM refers to a set of programmes, functions and activities designed and carried out in

order to maximize both employee as well as organizational effectiveness.

Scope of HRM

The scope of HRM is indeed vast .All major activities in the working life of the worker-from

the time of his or her entry into an organization until he or she leaves-come under the preview

of HRM .Specifically the activities included are- HR planning, job analysis and design ,

recruitment an selection , orientation and placement, training and development performance

appraisal and job evaluation , employee and executive remuneration , motivation and

communication ,welfare, safety and health , industrial relation and the like .For the sake of

convenience, we can categorize all these functions into seven sections :

3
6
1. Introduction to HRM.

2. Employee hiring.

3. Employee and executive remuneration.

4. Employee motivation.

5. Employee maintenance.

6. Industrial relation and

7. Prospects of HRM.

3
7
 Scope of HRM

3
8
Objectives of HRM
The primary objective of HRM is to ensure the availability of a competent and willing

workforce to an organization. Specifically objectives of HRM are four folded –

Societal, Organizational, functional and personal.

Objective of HRM

Societal Objectives: To be ethically and socially responsible to the need and challenges3 of
9
the society while minimizing the negative impact of such a demands upon the organization.
Organizational Objectives: To recognize the role of HRM in bringing about organizational

effectiveness .HRM is not an end in itself. It only means to assist the organization with its

primary objective.

Functional Objectives: To maintain his department’s contribution at a level appropriate to

the organization’s needs .The department’s level of service must be tailored to fit the

organization it serves.

Personal Objectives: To assist employees in achieving their personal goals, at least insofar

these goals enhance the individual’s performance and contribution to organization.

RECRUITMENT AND SELECTION

 “The art of choosing men is not nearly so difficult as the art of enabling those one has

chosen to attain their full worth”.

Recruitment is the process by which organizations locate and attract individuals to fill

job vacancies. Most organizations have a continuing need to recruit new employees to replace

those who leave or are promoted in order to acquire new skills and promote organizational

growth.

Recruitment follows HR planning and goes hand in hand with selection process by

which organizations evaluate the suitability of candidates. With successful recruiting to create

a sizeable pool of candidates, even the most accurate selection system is of little use

Recruiting begins when a vacancy occurs and the recruiter receives authorization to fill it. The

next step is careful examination of the job and enumeration of skills, abilities and experience
4
needed to perform the job successfully. Other steps follow: 0

     Creating an applicant pool using internal or external methods

     Evaluate candidates via selection

     Convince the candidate

     And finally make an offer

Scope: To define the process and flow of activities while recruiting, selecting and appointing

personnel on the permanent rolls of an organization.

Authorization:

S.No. Authorized Signatory

1 Head- Human resource

2 Managing director

Amendments and deviations:

Any amendments to and deviations from this policy can only be authorized by the Head-human

Resources and the Managing Director.

Exclusions:

The policy does not cover the detailed formalities involved after the candidate joins the

organization.

4
1
Sourcing Structure

4
2
 Sourcing Factory

West Rural & Health

South East North 1 North 2

AP WEST BENGAL PUNJAB MP

MUMBAI NORTH EAST UP & UTTARANCHAL CHATTISGARH
MAHARASHTRA TAMIL KARNATAKA & GOA NADU BIHAR HARAYANA RAJASTHAN
PAN India
KERALA JHARKHAND J&K GUJURAT

Tied Agency Direct Marketing BANCA PC

Health Assurance
B & Health
Retail Pharmacy
Rural Agency
Rural SA

4
3
HIRING AND YIELD
SOURCE MIX – ALL FRONTLINES

4
4
 200
180
160
140
120
100
80
60
40
20
0
L T
ST RA ST TH T TH TH th
AS TH TH T
A U A R EAS R R or E O
R R AS
E R E O - O O - N N O E
Y A N -N N e Y N E
C C
Y
N
C A ER R DM nc AC C
Y
LE IT
EN E N A N C
T N E r a M A C K S
AG G B
BA R TN su AR M IR R
\A PA AR As P H AR Y
C
W
O
H S P th PH IT
RT ES S e al L TH H R Campus
O N E S H A T I O Direct Application \ Advertisement
L
N SI I N HE
EA P R PGPMI
C
Y BU S H
N BU Pinnacle \ BP \ RO
E Recruitment Consultant
AG Talent@hunt

PINNACLE

This program is run within the organization and this program is only followed by ICICI

Prudential. As the word pinnacle itself means peak so it makes a very clear sense that the

program is for the employees in the sales sector i.e. Advisors. An agent is one who acts on

behalf of another. The ‘another’ on whose behalf the agent acts, is called the principal. This

is the simple definition. The lawyer is the agent of the client, when he argues the case in

court. An ambassador is an agent of his country. It is the function, which determines the

relationship of agency, not the designation.

The recruited advisors have to undergo group discussion, interview with Line manager as

well as have to give a presentation on a given topic.

If the candidate is selected, he /she have the profile of Unit Manager. The minimum

qualification of the advisor should be Graduation.

4
This is a kind of stepping Stone Program. 5
SOURCE MIX – AGENCY NORTH

250

200

150
AGENCY EAST \ BP North

AGENCY NORTH \ AGENCY RURAL\

100 BP North \ PC North

50

0
Direct PGPMI Pinnacle \ BP \ Recruitment Talent@hunt
Application \ RO Consultant
Advertisement

SOUCE MIX – ALTERNATE CHANNEL

4
6
25

20

15 Campus
Direct Application
PGPMI
10 Recruitment Consultant
Talent@hunt

0
BANCA EAST BANCA DM NORTH Health HEALTH HEALTH WORKSITE
NORTH Assurance - PHARMACY PHARMACY EAST
North EAST NORTH

RECRUITMENT PROCESS

4
7
 Proces s Flow

Applicant / Consultant Schedule Interview

creates Profile
Dedup
Proces s Interview Evaluation Form

Applicant / Consultant
applies for a Job Admin

Offer Letter Generation

Initial Screening by HR /
TAM
Offer Acceptance
Appointment Letter
Generation
Forward Filtered Profiles to
Transfer data to Pace
Line Mgrs

Shortlisting of Profiles Employee id generation

in Pace

Manual Test
Transfer Employee id to
Portal

ACTIVITY FLOW
4
8
The organization philosophy should be kept in mind while formulating the recruitment

procedure.
 The HR department would set the recruitment norms for the organization. However, the

onus of effective implementation and compliance with the process rests with the heads of the

respective functions and departments who are involved in the recruitment and selection

process.

The process is aimed at defining the series of activities that needs to be performed by

different persons involved in the process of recruitment, the checks and control measures to be

adopted and information that has to be captured.

Recruitment and Selection is conducted by:

 HR & Branch Manager

 Functional Head

 RECRUITMENT PLANNING

Recruitment planning on the basis of budget

A. The manpower planning process for the year would commence with the

company’s budgeting activity. The respective

Functional heads would submit the manpower requirements of their respective

functions/ departments to the board of Directors as part of the annual business plan

after detailed discussion  with the head of human Resource Function along with

detailed notes in support of the projected numbers assumptions regarding the direct

and indirect salary costs for each position.

4
B. A copy of the duly approved manpower plan would be forwarded by the 9HR

department for their further actions during the course of the year. The annual
 budget would specify the manpower requirement of the entire organization, at

different levels, in various

C. functions/departments, at different geographical locations and the timing of the

individual requirements. It would also specify the requirement budget, which is

the cost allotted towards the recruitment of the budgeted staff and the

replacement of the existing employees. The manpower plan would also clearly

indicate the exact time at which the incumbent should be on board in such a way

that the Regional HR has adequate notice for the time lapses involved in

sourcing any other activities.

C. The Regional HR’s would undertake the planning activity and necessary

preparations in advance of the anticipated requirements, as monthly and

quarterly activities on the basis of the approved budget, estimated separations

and replacements therefore.

D. The vacancies sought to be filled or being filled shall always be within the

approved annual manpower budget and no recruitment process shall be initiated

without the formal concurrence of the Head of the Regional HR under any

circumstance. Head of the Regional HR shall also have the responsibility to

monitor the appointments being considered at any point of time with specific

respect to the duly approved manpower budgets.

Review of Manpower Plans and Additional Manpower

A. Review of manpower budgets shall take place on a quarterly basis. In the event of any
5
new position or any deviations to the original plans, details of the positions maybe
0
forwarded to the VP-HR along with the adequate supporting information. The

recommendations would normally require a formal approval of the Managing Director.

 Alternately, VP-HR may record the summary of his discussion with the Managing

Director and the MD’s approval on the recommendations, to signify the final decision

taken regarding the recommendations.

SOURCING OF SUITABLE CANDIDATES

Selection of Sources

Regional HR would tap various sources/channels for getting the right candidate.

Depending on the nature of the position/grade, volumes of recruitment and any other relevant

factors, the Regional HR would use any one multiple sources such as:

 Existing database (active application data bank);

 Employee referral as per any company scheme that may be approved from time to time;

 Advertisement in the internet/newspapers/magazines/company’s sites/job sites or any

other media;

 Placement Agencies (particularly for positions of Managers and above);

 Headhunting firms particularly for senior positions, specialist positions and critical

positions;

 Direct recruitment from campuses/academic institutes;

 Job websites and

 Any other appropriate sources.

The norms for using any of the sources are not water tight. Number of positions,

criticality of positions and the urgency of the positions, confidentiality requirements, relative

efficacy and cost considerations would play a role in the choice of the appropriate sourcing
5
1
mechanism.

ADVERTISEMENTS
  All recruitment advertisements (in any form and any medium) shall always conform to

the KLI compliance norms and would not be released by any department or

branchwithout the approval of the VP-HR. depending on the specifics of each position

for which recruitment advertisements are to be released, Regional HR may obtain

assistance from the company’s marketing department and/or any external advertising

agencies for the preparation of the contents. Key features of the positions as notified by

the Functional Heads would normally form a part of the advertisement text.

 The media for releasing advertisement would depend on the level of the position being

considered and the urgency of the requirements.

 The advertisement mode that could be broadly specified as newspapers (local or

mainline depending on requirements), internet sites and business magazines.

Placement Agencies/Headhunting Agencies

 Depending upon the vacancies, fresher fitting different description listed above may be

recruited from time to time, from academic institutes of appropriate

standards/reputation/grade, in the requisite numbers and at the compensation/stipend

amounts to be formally approved of the VP-HR. Plans for such recruitment need

specific special approval of VP-HR. norms regarding the identification of the

appropriate institutes, constitution of the selection panels, timings of the recruitment,

number of candidates to be recruited into different positions, choice of the appropriate

selection process and the tools thereof shall be decided by the

Head of the Regional HR in consultation with the VP-HR, depending on the specific features

of the position. 5
2
Screening the candidates
 The Candidates would be screened by the HR Manager/Branch Manager for the

respective locations. Screening would be on the basis of the profile of the candidate and the

departmental requirements.

This assessment will be with respect to:

a. The general profile of the candidate,

b. Personality fit of the candidate into the profile,

c. Aptitude/attitude of the candidate,

d. Motives of the person to join the company and whether focus is in the short

term or is a long term player,

e. Basic skill level on our set of requirements, say numerically ability, networking

ability, etc

f. Establish the annual guaranteed cash compensation of the individual and check

whether the person would fit into the system.

g. Explain the role of Sales manager to the applicant and check the acceptance of

the candidate for the same.

In case of need, the Regional HR may take a Tele interview of the candidate for further

assessment process.

General Norms regarding interview Process:

A. Interviews should consider the entire data provided by the candidate either

through the formal CV or otherwise before coming to a conclusion about the

candidate. They may insist on seeing the proof of the claims made by 5the
3
candidate regarding qualifications, experience and other achievements. They

may, at their discretion, decide to meet the candidate on more than one occasion

or to refer the candidate to another panel.

 B. Ratings on various attributes of the candidates shall be recorded in the interview

evaluation sheet, soon after the interview is over. Along with these numerical

ratings, qualitative observations about the candidate and overall decision

regarding selection or otherwise (including a decision to defer the induction,

referral to another panel, considering for another position) shall be forwarded to

the associated Recruitment Manager/ Head of Regional HR. Individual panel

members have the option of appending their additional remarks/observations.

No selection will be treated as final unless the IES form is filled

comprehensively. Suitably appropriate IES formats may be created for specific

positions.

C. Any discrepancies noticed by the panel members regarding the authenticity of

the data provided by the candidate should be specifically and formally recorded

on the IES form and suitably high lightened.

D. Specific points to be probed during the reference check process, if any,

must also be clearly recorded and high lightened on the IES forms.

Administrative Actions Regarding Interviews

A. Scheduling and the venue of the interviews would be handled by the recruitment

team in consultation with the short listed candidate and the selection panel

members, after taking mutual convenience into account. For field positions,

respective branch/regional heads would undertake this co-ordination.

B. After the final round, if the candidate is selected, the complete set of papers

Personal Data Form, CV, job requisition no., Interview evaluation

5
sheet ,reference check details, educational details, along with the interviewer’s
4
recommendations and Reference check form should be forwarded by the

recruitment managers to recruitment head. Fitment of the candidate into a grade

 and compensation fitment shall be on the assumption of authenticity of the

information provided in the CV/application form.

C. An appropriate formal communication shall be sent to the candidate whose

candidature is not being taken forward, or

details of the verbal/telephonic communications provided to the candidate shall be

recorded on the candidates papers, by the recruitment team/associated line

managers. In the case of interviews taking place at the branch/regional levels,

similar noting should be recorded on the individual candidate’s papers.

Key tasks of Regional HR Head

Regional HR Head will have the authority and responsibility to administer/implement

the recruitment and selection process as outlined. An illustrative list of the key deliverables of

these incumbents is listed below.

 Ensuring inductions as per quality, numbers, time and cost consideration of the

company in accordance with the approved manpower budget.

 Creation of appropriate sourcing mechanism along with tracking the performance of

these mechanisms.

 Creation of quarterly and monthly recruitment plans

   Effective coordination with external parties such as candidates, placement agencies,

consultants, academic/professional institutes and any other including the custody of the

formal agreements , tracking timely payments and adjusted thereto.

 Creation of comprehensive and appropriate tools, linkages, documents, templates and

5
any other mechanisms to ensure smooth execution of the process requirement, along
5
with timely improvements thereto
  Assistance to user department and line managers including in interviewing/selection

support, scheduling etc.

 Effective internal communication with user departments and line managers including

making the standard recruitment formats and other templates easily available to such

users and notifying the modifications to such formats and templates.

 Creation and maintenance of qualitative information base regarding candidates,

placement agencies, campuses, institutes, and any other employment-market

information.

 Creation and maintenance of appropriate and high-quality MIS for current and future

needs of the organization, including publication/circulation of appropriate reports

there from to the relevant users in the company.

 Monitoring recruitment costs

 Complete documentation for the entire recruitment and selection process for easy and

quick retrieval in a readily auditable format

 Timely and effective communication with all internal and external parties including the

candidates

 Tracking the progress of the selected candidates including resignation, extensions of

probation periods/training period, etc for the purpose of improvement to recruitment

and selection process.

 effective coordination with the post recruitment arm of the Human Resource function

 Documentation and creating MIS regarding waiver, deviation, etc and identifying the

key areas for improvement in the formal recruitment and selection process document. 

5
6
Common selection problems

Achieving the three goals- accuracy, equity, buy -in –hinges on your ability to overcome the
following selection problems. Review these problems:

Interviewers miss important information. Interviewers focus only a few of the areas of

critical to job success, overlooking many others. Therefore, they fail to develop a complete

picture of an applicant.

Interviewers overlook job fit and organization fit. Interviewers tend to focus on the skill

aspects of the job and overlook candidates’ likes and dislikes. Failure to job fit and

organization fit can lead to poor performance and early turnover .

Interviewers ask illegal non -job related questions. These questions expose the organization

to lawsuits and might good candidates from protected groups of disadvantage.

Interviewers’ coverage overlaps. Too much overlap is a waste of valuable time.

As a result, candidates here the same question repeatedly, and the important areas receive no

coverage.

Interviewers have not organized selection elements into a system. Without an organized

approach, different selection elements often are used in different applicants, putting some at

disadvantage.

Candidates are turned off by the selection process. When interviewers talk too much or are

redundant, rude, or disorganized, there job offers are rejected, candidates seek employment

elsewhere, and this effects the reputation of an organization.

Biases and stereotypes affect judgment. Some interviewers classify people into “stereotypes”

. Because they often are unaware of these prejudicial tendencies, interviewers fail to realize the
5
effect these have on the decisions.
7

Interviewers take insufficient notes. Many interviewers never write down anything, on their

memory, which can be inaccurate.

Interviewers misinterpret applicant information. Interviewers often misinterpret data

when they play ‘amateur psychologist’ by guessing at the meaning behind an applicant’s

response. This leads them to attribute incorrect characteristics to candidates.

Interviewers make snap decisions about applicants. Some interviewers make selection

decisions on the basis of hand shake on the initial meeting or after asking only a few questions.

Here a problem is, these early decisions influence subsequent data gathering. Research

indicates that organizations make better decisions when they delay selection decisions while

continuing to collect data.

Organizations rely exclusively on interviews. Interviews are excellent tool in selection

system interviewers can obtain other critical information from sources such as “Paper and

Pencil test, Simulations, and Reference check”.

Interviewers’ hiring discussions are not systematic. Interviewers who meet to make the final

decisions often share candidate data randomly critical information for decision making is lost,

relationships between information never surface, and gaps in information about the person are

never discovered.

Interviewers allow one characteristics to influence their judgment. Interviewers

occasionally fall victim to the “Hallo Effect”. This is when one particularly strong or weak

candidate characteristic can influence an interviewer’s judgment about the person as whole.

Pressure to fill the position affects judgment. As there are many pressures on interviewer s

to make selection decisions too often result in lower standards. They rationalize their decisions
5
by saying they can train people or offset their limitation through close supervision. 8

The accuracy and fairness of the targeted Selection systems are based on six components. They

are as follows:
 1. Focus interviews and selection procedures on job related information.

2. Organize the elements of your selection process into an efficient system.

3. Obtain specific Behavioral Information that can be used accurately to predict future

behavior.

4. Assess the motivational fit of candidates.

5. Systematically share information about candidates in an organized data integration

session.

6. Make Legally Credible hiring decision.

1. Dimensions.

Dimensions describe the knowledge, motivations, and Behaviors associated with success

or failure in a job.

The responsibility as targeted Selection Interviewer is to collect information about a

candidate’s:

1 Knowledge

2 Behaviors

3 Motivations

During Interviews these three dimensions help in collecting data. A dimension –based

interviewing format focuses Questions on a particular knowledge, motivation and behaviors

important in the target job and eliminates unrelated questions.

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9
Sales Team Member

 Sales ability/persuasiveness  Building strategic Working

 Communication Relationships

 Job Fit  Job Fit

 Planning and Organizing  Applied Learning

 Energy  Decision Making

 Decision Making  Quality Orientation

 Tenacity  Initiating Action

 Negotiation  Contributing to Team

 Initiating Action Success

 Impact  Stress Tolerance

 Communication

 ork Standards

Professional/Knowledge Leader

Worker  Gaining Commitment

 Planning and Organizing

 Technical/Professional
 Decision Making
Knowledge and Skills
 Aligning Performance for
 Planning and Organizing
Success
 Adaptability
 Job Fit
 Initiating Action
 Stress Tolerance
 Job Fit
 Communication
 Gaining Commitment
 Delegating Responsibility 6
 Decision Making 0
 Meeting Leadership
 Applied Learning
 Information Monitoring
 Building Strategic Working
 Relationship  Building Successful Team

 Continuous Learning  Leading Through Vision and

Values

2. The Selection System

A Structured approach of the Information collected from interviews, simulations, and reference

checks leads to an accurate hiring decision .The missing ingredient is a Selection System, a set

of rules and procedures for taking applicant through the selection process.

In targeted selection, “system” refers to the uniformly applied, step by step procedure for

collecting and evaluating information and making hiring decisions. This system provides an

efficient method of collecting the necessary information about an applicant. It also ensures that

hiring and rejection decision are fair for all applicants.

The Selection Funnel

6
The figure represents a situation common in hiring organizations. The no. of applicants 1will

exceed the no. of job openings. A good selection system—one that uses less expensive and

faster methods early in the selection process and in depth , more expensive methods later
when only the most promising candidate remains –allows an organization to evaluate a

large no. of applicants efficiently and economically. Using this selection funnel maximizes

the time spent and ensures fairness to all applicants. The selection system “flow “for the

position “BANK ACCOUNT OFFICER”.

Campus Interview (recruiter)

Targeted selection Interview (HR department)

Targeted selection Interview (Regional mgr.)

Targeted selection Interview (Branch mgr.)

Targeted simulation

Data integration and decision making

6
2

Reference check
 Job offer

Selection Funnel 6
3
SWOT Analysis of ICICI Prudential Life Insurance’s Recruitment Process

                  Strengths                Weaknesses

 Brand equity of Kotak Mahindra Bank.  Pre assessment tests are costly.

 Rigorous Pre-Hiring assessment tests to  Conversion of footfalls is low.

understand aptitude and personality of

 Lengthy pre-offer formalities.
candidates.

 Huge employee turnover.

 Proper reference checks to ensure that only

bonafide candidates are appointed.  

 Adequate number of channel partners to

generate footfalls for each location.

 Footfall MIS being maintained at each

branch locally by Admin.

6
4
                       Threats

            Opportunities
 Increasing number of private players in

 Campus recruitments have huge potential insurance sector creates ample choices,

for fulfilling manpower requirements cost frequent a+d easy mobility for employees.

effective ely.
   Same channel partners are handling all

 Tie up with recruitment age ncies on insurance companies. This leads to same

supplying fixed number o - pool of candidates being circulated to all

f footfalls week on week. partners.

 Develop exclusive contract with channel   Increasing spill over as a candidate has

partners to meet the manpower more than one offer at the time of making a

requirements. job shift.

 Make blue form brief and to the point.   As the insurance industry is small, senior

level candidates hesitate to meet HR of

 Reduce turn around time of making an
other companies for the fear of grapevine.
offer.

6
Recruitment source May-June 5

Advertisement 0
Campus 55

Direct Applications 58

PGPMI 9

Pinnacle 164

Pinnacle BP 4

Pinnacle RO 2

Consultants 171

Talent@Hunt 211

Total 674

May-June

Advertisement
Campus
Direct Applications
PGPMI
Pinnacle
Pinnacle BP
Pinnacle RO
Consultants
Talent@Hunt

Recruitment source June-July

6
Advertisement 21 6

Campus 18
 Direct Applications 88

PGPMI 43

Pinnacle 129

Pinnacle BP 5

Pinnacle RO 5

Consultants 264

Talent@Hunt 200

Total 773

June-July

Advertisement
Campus
Direct Applications
PGPMI
Pinnacle
Pinnacle BP
Pinnacle RO
Consultants
Talent@Hunt

RESEARCH METHODOLOGY

6
RESEARCH METHODOLOGY is a way to systemically solve the research problem. It may
7

be understood as a science of studying how research is done.

In my summer training report I used descriptive research method.

RESEARCH PROCESS

Before embarking on the detail of research methodology and the techniques it seems

appropriate to present the brief overview of the research process. Research process consists of

series of action or steps necessary to effectively carried out the research and the desired

sequencing of these steps one should remember that the desired sequencing of these steps. One

should remember that various steps involve in a research process are not mutually exclusive

nor they are separate and distinct they do not necessarily follow each other. any specific order

and researcher have to be constantly anticipating at each steps in the research process however

the following order concerning various steps provide a useful procedural guideline regarding

the research process.

Research is a search for knowledge through objective and systematic method of finding

solution to a problem.

Marketing Research is a part of business research. It comprises a form of applied sociological

study, which concentrates on understanding the behavior, whims and preferences, mainly

current and future of consumers in a market based economy.

Methodology in common parlance refers to a search for knowledge. One can also define

research as a scientific and systematic search for pertinent information on a specific topic. In

act research is an art of scientific investigation. In fact research is an art of scientific

investigation. The advance learner's Dictionary of current English lies down the meaning of

research as “A careful investigation or enquiry specially through each for new facts in any

branch of knowledge." Some people consider research as a movement from known to

6
unknown. It is actually a voyage of discovery. 8
DEFINING THE PROBLEM :

The objective of my project was to undertake a study on the evaluation of recruitment &

selection program in the ICICI with a view to know the process and space for improvement in

the process of recruitment and selection program imparted by ICICI Prudential.

DEVELOP A RESEARCH DESIGN

Research design is a conceptual structure within which research is conducted; it is basically the

blue print for a collection of data, measurement and analysis of data. “A research design is the

arrangement of conditions for collection and analysis of data in manner that aims to

combine relevance to research purpose with economy in procedure”.

My research design is of descriptive type. A descriptive research design is focus on the

discovery of new ideas. it is generally based on secondary data that are already available.

My research design is of descriptive type because in my training I tried to judge a

relationship between different variables like interpersonal skills of employees, overall

recruitment of the candidates and recruit and select them in the organization. for that reason it

is a descriptive type of research design.

In my research design I took help of different phenomena's of the organization in hiring

the employees.

SCOPE OF STUDY:

The coverage of the extends of the practice of Recruitment &

6
s e l e c t i o n p o l i c y i n t h e o r g a n i z a t i o n . I t c a n i n f l u e n c e o v e r a l l w e l l b e 9i n g

of the organization by satisfying both employer and employees needs.

 It also includes some clues and suggestions to light the way to

further progress and improvement for good functioning.

 To identify areas where there can be scope for improvement.

 To give suitable recommendation to streamline the hiring process.

 Criteria of Good Research

One expects scientific research to satisfy the following criteria:

1.The Purpose of the research should be clearly defined and common concepts are used.

2. The Research procedure used should be described in sufficient detail to permit another

researcher to repeat the research for furthered advancement, keeping the continuity of what

has already been attained.

In other words, qualities of a good research as under:

i) Good research is Systematic.

ii) Good research is Logical.

iii) Good research is Empirical

.iv) Good research is Replicable.

Research Design

The frame work of conducting research is known as the 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 economy7 in
0
procedure.”
 The main purpose of research design has two basic purposes:

i) To provide answers to research -questions as validity , objectively, accurately and

economically as possible , and

ii) To bring empirical evidence to bear on the research problem by controlling variance.

There are three types of Research Design.

TYPES OF RESEARCH DESIGN :

There are 3 types of Research Design :

1. Exploratory Research 2. Descriptive Research 3. Experimental

1. Exploratory Research :

It is one to know why and how certain phenomenon occurs , how consumer evaluate

quality , tangible features , replacement policy warranty.

2. Descriptive Research :

It is carried out to describe a market characteristics to understand the consumer buyer

behavior.

3. Experimental Research:

It is done to establish cause and affect relationship. As - The influence of in come and life

style on purchase decision.

METHODS OF STUDY
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1

6. QUESTIONNAIRE METHOD
 In this method a detailed questionnaire is prepared by the job

analyst and is distributed among the workers. The workers answer

the questions to the best to their knowledge and belief. Employee’s

co-operation can more easily be achieved by explaining the entire

program fully in detail to the representatives of employees

Assistance of supervisors can also be sought.

7. PERSONAL INTERVIEW

Job analyst uses interview as a prime method of data collection. He

contacts the workers and the supervisor concerned and asks

questions regarding the various jobs performed by them for

collection the information.

8. DATA COLLECTION

TYPES OF DATA :

1. PRIMARY DATA 2. SECONDARY DATA

METHODS & TOOLS FOR DATA COLLCTION

Method : Survey
7
Tool : Questionnaire 2

Secondary data
 Internet

Books

Journal

Manuals

Annual reports

9. TYPES OF ANALYSIS

1. DATA ANALYSIS 2. REPORT ANALYSIS

10. DATA INTERPRETATION AND DATA

REPRESENTATION

Sample Survey: Employees.

Area of Survey: Lucknow

Time Period: 6 WEEKS.

Data Type: Primary Data.

Sample Selection: Convenience.

Sample size: 100 employees.

SAMPLING

Sampling procedure includes finite types of universe with random sampling which comes

under probability method of sampling because under this method every item of the universe
7
has a equal chance of being selected and no place for biases ness. 3
In my research use random sampling which is a part of random sampling with a systematic

design.

SAMPLING DESIGN

A sampling design is a definite plan for obtaining a sample for a given population.

There are 150 employees in office of ICICI Prudential, I have chosen a sample size of the 100

employee.

TYPES OF SAMPLING :

There are 2 types of sampling :

1. Probability 2. Non - Probability

Probability sampling

A probability sampling method is any method of sampling that utilizes some form of random

selection. In order to have a random selection method, you must set up some process or

procedure that assures that the different units in your population have equal probabilities of

being chosen. Humans have long practiced various forms of random selection, such as picking

a name out of a hat, or choosing the short straw. These days, we tend to use computers as the

mechanism for generating random numbers as the basis for random selection.

TYPES OF PROBABILITY SAMPLING:

 Simple random sampling

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 Systematic sampling (interval random sampling)
4
 Stratified sampling (may be proportionate or disproportionate)

 Cluster sampling/one-stage
NON-PROBABILITY SAMPLING:

A sample of units where the selected units in the sample have an unknown probability of being

selected and where some units of the target population may even have no chance at all of being

in the sample.

Forms of non-probability sampling are numerous, such as voluntary samples (only responses of

volunteers are used), quota samples, expert samples.

Types of Non-probability Sampling

Quota Sampling

Purposive Sampling

Dimensional Sampling

Snowball Sampling

DEVELOP A RESEARCH DESIGN

Research design is a conceptual structure within which research is conducted; it is basically the

blue print for a collection of data, measurement and analysis of data. “A research design is the

arrangement of conditions for collection and analysis of data in manner that aims to

combine relevance to research purpose with economy in procedure”.

My research design is of descriptive type. A descriptive research design is focus on the

discovery of new ideas. it is generally based on secondary data that are already available.
7
My research design is of descriptive type because in my training I tried to judge
5 a

relationship between different variables like interpersonal skills of employees, overall

development of the employees and the training and development to them in the organization.

for that reason it is a descriptive type of research design.

In my research design I took help of different phenomena's of the organization.

DATA ANALYSIS
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6
Table 1.1 For most liking of your job

S.No. Training Programs Percentage (%)

1 Growth 50%

2 Job environment 20%

3 Compensation 20%

4 Empowerment 10%

10%

20%

50%

20%

Growth Job environment Compensation Empowerment

INTRPRETATION:

Growth for most of the employees is 50%, Job environment for most of the employees 20%,

Compensation for the employees is 20% and Empowerment for the employees is 10%

Table 1.2 : For the answer of Is there is any freedom given in decision making and problem

solving

7
S.No. Training Programs Percentage (%)
7

1 Yes 20%

2 No 10%
3 Sometimes 50%

4 Just as formality 20%

20% 20%

10%

50%

Yes No Sometimes Just as formality

INTRPRETATION:

Training programs freedom for decision making and problem solving for most of the

employees is yes 20% no is 10%, sometimes is 50% and just a formality 20%.

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8
Table1.3 of the company provide performance related incentive to employees ?

S.No. Training Programs Percentage (%)

1 Excellent 50%

2 Fair 10%

3 Average 20%

4 Good 20%

20%

50%

20%

10%

Excellent Fair Average Good

INTERPRETATION:

Company provide performance related incentives to the employees for excellent 50%, faie

10%, average 20% and good 20%.

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Table 1.4 for the idea about the benefits provided by the company such as vocation, paid
9
holidays, medical, retirement

S.No. Training Programs Percentage (%)

1 Excellent 60%

2 Good 20%

3 Fair 10%

4 Poor 10%

10%

10%

20% 60%

Excellent Good Fair Poor

INTERPRETATION:

Idea for the benefits provided by the company such as vocation, paid holidays, medical and

retirement is excellent for 60%, good for 20%,

Fair for 10% and poor for 20%.

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0
Table 1.5 for work load is there in your company

S.No. Training Programs Percentage (%)

1 Heavy 60%

2 Normal 20%

3 Good 10%

4 Over 10%

10%

10%

20% 60%

Heavy Normal Good Over

INTERPRETATION :

The workload is heavy in your company is 60%, Normal is 20%, Good is 10% and over is

10%.

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1
Table 1.6 for organization is sensitive to employee's need

S.No. Training Programs Percentage (%)

1 Always 10%

2 Usually 50%

3 Sometimes 30%

4 Never 10%

10% 10%

30%

50%

Always Usually Sometimes Never

INTERPRETATION :

10% Always organization is sensitive to employee's need, 50% Usually, sometimes 30% and

10% never.

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2

Table No. 1.7 for telling you the working environment of company

S.No. Training Programs Percentage (%)

1 Excellent 15%

2 Poor 10%

3 Good 15%

4 Fair 60%

15%

10%

60%
15%

Excellent Poor Good Fair

INTERPRETATION :

During the training, the working environment of company was excellent 15%, Poor 10%, Good

15% and Fair is 60%.

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3
Table 1.8 for the growth related polices in your organization

S.No. Training Programs Percentage (%)

1 Excellent 30%

2 Poor 10%

3 Good 10%

4 Fair 50%

10%

30%

50% 10%

Excellent Poor Fair Good

INTERPRETATION :

Excellent growth related polices in your organization is 30%

Poor growth related polices in your organization is 10%

Fair growth related polices in your organization is 50%

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4
Good growth related polices in your organization is 10%
 Table 1.9 for the most likely reasons for leaving the job

S.No. Training Programs Percentage (%)

1 Work Load 20%

2 Unsatisfactory Compensation 10%

3 Working environment 60%

4 Slow Growth 10%

10%
20%

10%

60%

Work load Unsatisfactory Compensation

Working environment Slow growth

INTERPRETATION :

The most likely reasons for leaving the job workload 20%, Unsatisfactory compensation is

60% and slow growth is 10%.

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5
Table 1.10 for your views on culture of your organization

S.No. Training Programs Percentage (%)

1 Friendly 60%

2 Non Friendly 10%

3 Competitive 20%

4 Don't know 10%

10%

20%

60%
10%

Friendly Non friendly Competitive Don't know

INTERPRETATION :

Friendly culture of your organization is 60%, Non-Friendly is 10%, Competitive is 20%

8
and Unknown 10%.
6

FINDINGS
 We find ICICI Prudential market is very good in India.

 We find the channel of distribution is good.

 Maintain working Efficiency and Increase policies of organization.

 Policies and service of ICICI is very good.

 Maintain the quality standard.

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7
 SUGGESTIONS

Some of the main sources of the recruitment & selection policy in the organization are-

DIRECT SOURCES

By campus interview.

By seminar

By walking

Graduate engineer trained.

INDIRECT SOURCES

By advertisement in newspaper.

By advertisement in business magazine.

By employment exchange.

PARTY SOURCES

By union

By head hunters (employment bureau)

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8
By contracts through factories employee.
I think that in these cases it may be possible that unqualified workers get appointed and

suitable persons are lift.

I think that in these cases, it is compulsion, to recruit & select HRD manager should

provide training program for the employees. After training program, we can get better

employees moral & product.

There is new selection technique in the organization use of different psychological tests,

aptitude tests, knowledge test, personality, interest & last employment interview are made

many, to select the personnel at management levels. In think that same to workers level.

There is no scientific procedures of selection is adopted for hiring the worker at lower levels.

We should at least prefer candidates who are recommended by the existing employee’s relative

or friend etc.

At last, I want to say, if we keep those points in the mind then we can make a sound good

recruitment & selection policy.

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9
 RECOMMENDATIONS

 Employers should be less biased about the recruitment of employees through

employee referrals.

 More awareness should be provided to employees through awareness programs

conducted about R&S.

 New Recruitment can be more popular among employees by giving proper training

to

 The deduction of 40% from salary as HR should be decreased.

 employees once in a month.

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0
 LIMITATIONS

Every task is undertaken with an objective and accomplishment of this objective determines

our success

Task:

The recruitment at ICICI Prudential Life Insurance involved a lot search from the database and

calling up candidates to check whether they fit the job specification.

Difficulties:

 Candidates were reluctant to talk at times;

 Candidates who were contacted were not interested in Insurance on many occasions;

 Candidates who were scheduled for interview would not turn up;

 Run out of database many times since most of them would have already been

contacted;

Task:

Candidates were to be searched from the job portals and called up to be scheduled for an

interview.

Difficulties:

 At times many people had for couple of hours to work on the computer; 9
1
  Since STD calls had to be made, the availability of phone was limited, so there was

greater coordination required with respect to its usage and maintains a time slot so that

other person has a chance to use.

LEARNINGS
Every endeavor undertaken to accomplish challenging goals, can only be successful under the

experienced and encouraging guidance. I am privileged to have undergone training at ICICI

Prudential Life Insurance. As learning never stops, my learning at ICICI Prudencial has come

from a lot of exposure, on the job training and close interaction with the corporate. In brief my

learning and achievements can be summarized as under:

 Understanding of person and profile fit.

 Convince people about the job profile and to sell the job to the prospective candidate;

 Following up with the candidates during the entire selection process;

 Learned to convince candidates about the offer rolled out and making them accept the

offer through effective communication;

 Learning about salary fitments.

 Communicating with the corporate;

 Performance appraisals, its various types, implications and significance;

 Handling queries received from various quarters;

 Managing HR department in the absence of HR manager;

 Prioritize issues according to their importance.

9
CONCLUSION 2
I find that generally all employees of the organization like the Recruitment and Selection

policy. The workers representation in management in the organization is quite good.

Employees are satisfied with their work so we can say employee’s moral is high in the

organization. High moral assists in the management to overcome several problems such as

labour turnover, a absenteeism, indiscipline, grievances etc. it also helps seek co-operative of

the workers in the running of the organization and thus getting higher production at minimum

possible cost by reducing the wastage of time, man, machines and materials. It is in other

sense, and index of good industrial relations.

There is proper selection in the organization, proper selection of the personnel reduces

personnel problems in the organization as employee turnover, absenteeism etc. employee

relations are also better because customer are full satisfied by their work.

At last, we can say, there is Recruitment & Selection Policy is sound in the organization.

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3
 QUESTIONNAIRE

Name

Age

Position

Rules of recruitment

Rigid

Flexible

Sources of recruitment

Advertisment

Consultacy

Pinnacle

Others

Rounds kept for selecting candidates.

Types of candidates preferred by the organ.

Fresher

Experience

Both

9
Minimum qualification of candidate/. 4
Intermediate

Graduation
Below or above it.

Minimum age of worker

18 to 22

22 to 28

28 to 32

How many year experince is needed for grade 1.

1 Year

1-2 Year

More Than 2 Years

Orientation Program.

Excellent

Good

Average

Trade union involved any level in recruitment program.

Yes

No

How much time given to candidate to present her\his documents recuirment for the profile ich
he is selected.

1 Week

15 Days

15-20 Days

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5
BIBLIOGRAPHY
Internet sites: www.google.com

www.iciciprulife.com

Books: Human Resource Management

K. Ashwatthapa

L. M. PRASAD.

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