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COMPANY PROFILE

HDFC STANDARD LIFE INSURANCE COMPANY LTD OBJECTIVE Focus on the productivity of each consultant, corporate or individual, while stressing on the quality of proposals Quick roll out of Products Efficiency of Operations Meet Social & Rural sector obligations VISION 'The most successful and admired life insurance company, which means that we are the most trusted company, the easiest to deal with, offer the best value for money, and set the standards in the industry. 'The most obvious choice for all'. VALUES Values that we observe while we work: Integrity. Innovation. Customer centric. People Care One for all and all for ones. Teamwork. Joy and Simplicity.

OBJECTIVES OF THE STUDY


1. Recruit high quality FC with the right skills on the appropriate contracts to deliver the

key objectives of the position and organization;


2. Ensure that equality of opportunity is considered as an integral part of recruitment practice, thus encouraging diversity;

RESEARCH METHODLOGY
Sources of data Data is collected from Primary as well as secondary source. For primary data FC were personally intervened and for secondary data, journals, Internet and books. PRIMARY DATA: Primary data was collected from the sample by a selfadministered questionnaire in presence of the interviewer. SECONDARY DATA: The chief sources of secondary data were magazines, newspapers, journals etc. Primary Objectives(s) The primary objective is to study, understand and analyze various aspects related to recruitment at Reliance Life Insurance. SAMPLE SIZE The survey is conducted among 30 respondents. Tools : Excel table and Graphs

DATA ANALYSIS
Q. 1 Motivating factor which affects FC of HDFC Life Insurance? Money Recognition Associations with an organization Influence by others success Had free time 12 6 2 8 2 From the graph it is evident that most of the agent advisors working with are motivated by the kind of money that they can make in the business. The other factors which motivate them are recognition and association with a multi national organization. There are few who motivate themselves by the success of the other agents. A handful of people do not actually have any thing to motivate them, they are working with HDFC Life to spare time.

Chart Title MOTIVATION FACTOR, Money, 12, 40%

MOTIVATION FACTOR, Influence by others success, 8, 27%

MOTIVATION FACTOR, Had free time, 2, 7%

MOTIVATION FACTOR, Associations with an organization, 2, 6%

MOTIVATION FACTOR, Recognition, 6, 20%

Q. 2 What factor should be considered while Selecting Financial advisor? Money Recognition Associations with an organization Influence by others success Had free time 12 6 2 8 2

The agents and advisors have also given some important feedback about the important characteristics which an HDFC Lifeagents advisor should possess. The results are shown with the help of a graph below.
Patience Communication Relation building

Persistence
Hardworking

Axis Title

The agents feel that communication is the most important characteristics that an advisor should possess, followed by patience and the ability to work hard. Therefore the management of HDFC Life should give emphasis on developing the communication skills of the agents. Also as an advisor makes most of his appointments over the phone, there should be greater emphasis on soft skill development in the training module.

Axis Title

Q. 4 What percentage of customers are influenced by the FC?

Influenced Not Influenced Did not attend

65 10 25

FC influenced

agent influenced, Did not attend, 25, 25%

Those there were mixed reaction about other things but a majority of the advisors had a similar opinion about the training program. This can be seen in the graph given below.
agent influenced, Influenced, 65, 65%

agent influenced, Not Influenced, 10, 10%

Q7.Does high fee of licensing has negative effect on advisor recruitment

Options 1. Yes No

Response 45% 55%

Chart Title

option, no, 12, 12%

yes no option, yes, 88, 88%

This graph shows that 55% manager thinks that there is no effect of fees for recruitment but 45% manager thinks that fees have a negative effect on recruitment of advisor. So there should be reduction in the fees . Give some relaxsation to the people who are not affordable

Q8.Give rank to inspirational factor to promote business for advisor?

Options 1)Commission & rewards 2)Joint field visits 3)Motivational session 4)Participation in contest
Chart Title

Response 40% 10% 30% 20%

option, no, 12, 12%

yes no option, yes, 88, 88%

This graph shows that 55% manager thinks that there is no effect of fees for recruitment but 45% manager thinks that fees have a negative effect on recruitment of advisor. So there should be reduction in the fees . Give some relaxsation to the people who are not affordable

Q8.Give rank to inspirational factor to promote business for advisor?

Options 1)Bank assurance 2)Direct marketing 3)Tide agency 4)corporate agents


Chart Title

Response 20% 35% 15% 30%

option, no, 12, 12%

yes no option, yes, 88, 88%

These are the some distribution channel of HDFC Life Which were described above.

Q8.Give rank to inspirational factor to promote business for advisor?

Options 1)Bank assurance 2)Direct marketing 3)Tide agency 4)corporate agents


Chart Title

Response 20% 35% 15% 30%

option, no, 12, 12%

yes no option, yes, 88, 88%

These are the some distribution channel of HDFC Life Which were described above.

FINDINGS

1. The greatest motivating factors for the agents and advisors are money followed by being a part of a Multi national organization.
2. Most of the agent advisors feel that good communication is important to be successful in this business and therefore the company should train them in 3. 4.

5. 6.

7.

developing good communication skills. The agents and advisors find that the career seminar is a very important tool in selling the agency as a career and most of them have been influenced by this. The agents and advisors are very satisfied with the training program at Reliance Life and believe that is it one of the reason for their success. A good number of agents feel that there should be more policies for the children A good number of agents are not satisfied with the facilities provided by the management. They would like the company to increase the number of telephone in the agent area and also make the camp shop more efficient The agent advisors also felt that the y are not given regular updates on the position of the application that they have submitted.

SUGGESTIONS 1. The survey has made it evident that the agents and advisors are by and large satisfied with the organization and are happy to be a part of this esteemed company. However there are few areas where the agent advisors feel that there is some scope of improvement. 2. Most of the agents and advisors feel that communication is the most important characteristics that an advisor should possess. And as the agents take most of their appointments over the phone, the training module should contain program which would train them on soft skills and telephone etiquette. 3. Most of the agents and advisors are not satisfied with the working of the camp shop, therefore some measures should be taken to make it more effective and spontaneous. 4. Since money is the most important motivating factor, the company should make regular updates in the reward and recognition program, as many agents and advisors feel that the rewards and recognition system are not enough remuneration for their hard work and commitment.

CONCLUSION
1. This study was a learning experience for me and I came to know the Recruitment of FC programs in HDFC LIFE 2. A competent workforce underpins the success of any organisation. It is crucial that staff possess the knowledge, skills and competencies required for optimum

performance.
3. Most organisations acknowledge the importance of developing their staff, but many will admit that their provision for staff development through training and learning could be improved. 4. Employees must work on certain as acts to increase the production as well as self motivation like

BIBLIOGRAPHY 1. Books Mishra.M.N ,Modern Concept of Insurance, Year 1999 IC-02, IC-33 Insurance Institute Of India Kothari C.R , Resarch Methodolgy Gupta.S.L, Marketing Service Life Insurance Volume 1 - ICFAI Press
2. Newspapers and magazines: Insurance Chronical by ICFAI, Edn. June-2008 Economic times, Edn. May-2008 Times of India, Edn. 23, June-2008

THANKS