RECRUITMENT AND SELECTION

AT
HDFC LIFE INSURANCE

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

MBA III SEMESTER

PENDEKANTI INSTITUTE OF MANAGEMENT
INTRODUCTION

 Recruitment is the process of searching for prospective employees and

simulating them to apply for the job in the organization where as selection is
the process of finding out the most suitable candidate to the job out of the
candidates attracted. Recruitment forms the first stage in the process which
continues with the selection and ceases with the placement of the candidate.
It is the next step in the procurement function, the first being the man
power planning. Recruiting is the discovering of potential applicants for
actual or anticipated organizational vacancies.
  
 Once the required number and the kind of human resources are determined,
the management has to find places where required human resources are/will
be available and also work out strategies for attracting them towards the
organization before selecting suitable candidates for jobs. This process is
generally known as recruitment. Some people use recruitment for
employment. These two are not one and the same. Recruitment is only one
of the steps in entire employment process. Some others use the term
recruitment for selection. These two terms are different.
NEED OF THE STUDY

 The purpose of study is to learn the practical applicability of

the theoretical knowledge gained about recruitment &selection
process.
 To gain knowledge about, the process of recruitment
&selection as well as to know the effectiveness or
ineffectiveness of the process of recruitment &selection in Hdfc
Life Insurane to provide suggestions if any for having an
effective recruitment &selection process of Hdfc Life Insurane .
 To Increase the effectiveness of different recruiting techniques
and sources for all types of job applicants in the organization.
 To identify the various sources of recruitment.
 To obtain the number and quality of employees that can be
selected in order to help the organization to achieve its goals
and objectives.
OBJECTIVES OF THE STUDY

 To study recruitment and selection process at Hdfc

Life Insurance .
 To analyze the effectiveness of recruitment and

selection process at Hdfc Life Insurance.

 To ensure that all appointments are made on merit

to attract sufficient applications from potential

candidates for appointment with the skills, qualities,
abilities, experience and competencies deemed as
being necessary to the job.
 To develop and maintain procedures which will

assist in ensuring the appointment of the most

suitable candidate.
SCOPE OF THE STUDY

 The study was conducted to have an insight into the

recruitment and selection process.
 The scope of the study was to identify various
techniques used in the recruitment and selection.
 To understand the various sources of recruitment
provided in the organization.
 It helps to analyze the recruitment policy of the
organization.
 It enables us to evaluate the effectiveness of different
recruiting techniques and sources for all types of job
applicants in the organization.process and how
effective it is done.
RESEARCH METHODOLOGY
 Research is a common parlance refers to search for knowledge. Research is
an academic activity and as such term should be used in a technical sense.
Methodology is a way to systematically solve the research problem. It may be
understood as a science of study how research is done scientifically.
 Research design:
 “A research Design is the arrangement of conditions for collection and
analysis of data in a manner that aims to combine relevance to the research
purpose with economy in procedure”. The research design adopted in the
study is descriptive.
 Sample size:
 For the present study exactly 45 employees will be selected from the
company out of 100 employees.
 Sample Method:
 Convenience sampling is used in the study and sampling units are chosen
primarily in accordance to the convenience.
 Period of survey:
 The survey will be conducted for the period of 45 days.
 Tools used for Analysis:
 A simple percentage method is used to analyse the data.
 DATA COLLECTION:
 The data collection from secondary data.
 Secondary data:
 The secondary data and the extensive literature on selection procedure will
be collected from books, magazines and various websites. Information was
also collected from company records, company data base.
 Data Analysis:
 Data analysis can be described through.


Bar charts & pie charts:

 The questionnaire is given to the employees in the organization.
 The respondent to this questionnaire can be analyzed in percentages and
represented through bar & pie charts to know the importance of Performance
Appraisal
LIMITATIONS OF THE STUDY
 The domestic market is the focus of this study.
 We have not studied the international recruitment
process here.
 Sample size is limited due to the limited period
allocated for the survey
 The analysis is completely based on the information
provided by the employees and hence could be
biased.
 Taking appointment of the respondents became a
little difficult. Only.
 You will have to replace the person who has been
promoted
 INDUSTRY PROFILE

 The Indian Insurance Sector is basically divided into two categories – Life
Insurance and Non-life Insurance. The Non-life Insurance sector is also termed as
General Insurance. Both the Life Insurance and the Non-life Insurance is governed
by the IRDAI (Insurance Regulatory and Development Authority of India).
 The role of IRDA is to thoroughly monitor the entire insurance sector in India and
also act like a custodian of all the insurance consumer rights. This is the reason
all the insurers have to abide by the rules and regulations of the IRDAI.
 The Insurance sector in India consists of total 57 insurance companies. Out of
which 24 companies are the life insurance providers and the remaining 33 are
non-life insurers. Out which there are seven public sector companies.
 Life insurance companies offer coverage to the life of the individuals, whereas the
non-life insurance companies offer coverage with our day-to-day living like
travel, health insurance, our car and bikes, and home insurance. Not only this, but
the non-life insurance companies provide coverage for our industrial equipment’s
as well. Crop insurance for our farmers, gadget insurance for mobiles, pet
insurance etc. are some more insurance products being made available by the
general insurance companies in India.
COMPANY PROFILE

 HDFC Life Insurance Company Limited is a joint venture between HDFC Ltd.,
one of India’s leading housing finance institution and Standard Life
Aberdeen, a global investment company.
 Established in 2000, HDFC Life is a leading long-term life insurance
solutions provider in India, offering a range of individual and group
insurance solutions that meet various customer needs such as Protection,
Pension, Savings, Investment, Annuity and Health. As on March 31, 2020
the Company had 37 individual and 11 group products in its portfolio,
along with 6 optional rider benefits, catering to a diverse range of customer
needs.
 HDFC Life continues to benefit from its presence across the country with
421 branches and additional distribution touchpoints through several
partnerships. The partnerships comprise 270 bancassurance partners
including NBFCs (Non-Banking Financial Companies), MFIs (Micro Finance
Institutions), SFBs (Small Finance Banks), etc. and more than 40 new
ecosystem partners. The Company is also strengthened by a strong base of
financial consultants.