A

PROJECT REPORT

ON

“STUDY AND ANALYSIS OF RECRUITMENT AND

SELECTION PROCEDURE”

UNDERTAKEN AT

“BHARTI AXA Life Insurance Company

Limited”

Project Guide: Submitted By:

Mr. R Sk

ACKNOWLEDGEMENT

If words are considered to be signs of gratitude then let these words convey the very same, my

sincere gratitude to Bharti AXA Life Insurance for providing me an opportunity to work with

Bharti AXA and giving necessary directions on doing this project to the best of my abilities.

I am highly indebted to Mr. N ( Sr. BRANCH SALES MANAGER) and company project guide

Mr. R (AGANCY MANAGER) , who has provided me the necessary information and also for

the support extended in the completion of this report and there valuable suggestion and

comments on bringing out this report in the best way possible.

S

DECLARATION

I hereby declare that this work entitled “STUDY AND ANALYSIS OF

RECRUITMENT AND SELECTION PROCEDURE” is my work carried out

under the guidance of Mr. R. This report neither full nor in part has ever been

submitted for award of any other degree of either this University or any other

University.

S

Table of Contents

EXECUTIVE SUMMARY.....................................................................................................0

INTRODUCTION...............................................................................................................2

OBJECTIVE OF STUDY………………………………………………………………………………………………………………………… 3

COMPANY PROFILE:.........................................................................................................4

CORPORATE PROFILE.....................................................................................................16

HRM POLICY..................................................................................................................20

PROMOTERS..................................................................................................................24

RESEARCH METHODOLOGY……………………………………………………………………………………………………………...31

SELECTION AND RECRUITMENT STEPS............................................................................34

RECRUITMENT PROCESS.................................................................................................35

SELECTION PROCESS......................................................................................................36

FINDINGS AND SUGGESTIONS........................................................................................45

RESEARCH ANALYSIS......................................................................................................56

CONCLUSION.................................................................................................................57

ANNEXURE.....................................................................................................................58

INTERVIEW EVALUATION FORM.....................................................................................59

OFFER CHECKLIST...........................................................................................................60

REFERENCE CHECK FORM...............................................................................................61

EMPLOYEE REFERRAL FORM...........................................................................................63

OFFER LETTER................................................................................................................65

BIBLIOGRAPHY...............................................................................................................66

PREFACE

This project was carried out in the HR department of BHARTI AXA Life

insurance co. Jammu. Bharti AXA Life insurance is only concern with life

insurance and General insurance.

The objective of this project is to study the entire Recruitment & Selection

processes at Bharti AXA Life insurance. The Human Resources Department of

Bharti AXA Life insurance carries out both these functions quite effectively.

Hence, the procedure of Recruitment is studied thoroughly and some inferences

accordingly. The data and information collected is with respect to working

procedure specifically regarding recruitment procedure, the data referred for this

study is for the year 2010-11. I have applied the concept and gained knowledge

learned during the course in at BHARTI AXA In practical business situation and

understood these concepts in better way. The research work really has poured of

immense learning for me. I would like to thank whole heartedly to Bharti AXA ,

for giving me this exposure.

1

INTRODUCTION TO PROJECT:

RECRUITMENT& SELECTION:

Recruitment and selection is the process of identifying the need for a job, defining the requirements of the position and the job holder, advertising the position and choosing the most appropriate person for the job. Retention means ensuring that once the best person has been recruited, they stay with the business and are not “poached” by rival companies.

Undertaking this process is one of the main objectives of management. Indeed, the success of any business depends to a large extent on the quality of its staff. Recruiting employees with the correct skills can add value to a business and recruiting workers at a wage or salary that the business can afford, will reduce costs.

The term ‘selection ‘denotes a choice of one or some from amongst many. The vital importance of making the right selection of staff for any enterprise cannot be overemphasized. While selecting employees, it should be borne in mind that they are the greatest source of an organization. Building and money are always secondary. The critical element is always the spirit, teamwork and the skill of the organization’s personnel. Everything can be bought or reproduced except skilled and dedicated service.

The process recruitment and selection of

employees is not easy, it is one of the most

important aspects for running any business. This is

meant to help for planning recruitment and selection of employees.

2

Objective to Study

The aim of the present study is accomplishing the following objective:

To understood labour turn over rate is more in insurance sector.

To understand the recruitment and selection procedure.

To know about the functions of HR other than recruitment.

Over all understanding and brief knowledge of life insurance industry.

To ensure all recruitment and selection procedures comply with the Council’s Equal Opportunity Policy.

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

3

Company profile:Bharti AXA Life Insurance is a joint venture between Bharti, one of India’s

leading business groups with interests in telecom, agro business and retail, and

AXA, world leader in financial protection and wealth management. The joint

venture company has a 74% stake from Bharti and 26% stake of AXA.

The company launched national operations in December 2006. Today, company

has over 5200 employees across over 12 states in the country. Our business

philosophy is built around the promise of making people "Life Confident".

50 MILLION (500 LAKHS CUSTOMERS)

130,000 EMPLOYEES

72 BILLION EUROS (RS. 4, 16,300. CRORE) REVENUE

869 BILLION EUROES (RS.50 24, 500.CRORE) ASSET UNDER

MANAGEMENT

Bharti AXA life insurance is advertising regularly and creating brand value for its

products and services. It has competitors like Aviva, ICICI, Max, Reliance, HDFC

standard life, and LIC

4

Why Insurance sector?

The service industry is one of the fastest growing sectors in India today. The

upcoming sectors which are really showing the graph towards upwards are -

Telecom, Banking, and Insurance. These sectors really have a lot of responsibility

towards the economy.

Amongst the above-mentioned areas insurance is one sector, which took a lot of

time in positioning itself. The insurance business of non-life companies was not

much in problems but the major problem was with life insurance. Life Insurance

Corporation of India had monopoly for more than 45 years, but the picture then

was completely different. Previously people felt that “Insurance is only for

classes not for masses” but now the picture is vice-versa.

The formation of IRDA, entrance of private life insurance companies into India

with one foreign partner, compulsory training of Insurance agents etc.

developments started to take place. And this was the time when these companies

started searching for proper channel partners who can help the organization in

expanding its network and business in India.

After the Insurance Regulatory and Development Authority Act have been passed

there has been establishment of many private insurance companies in India.

Previously there was a monopoly business for Life Insurance Corporation of India

(L.I.C.) who was the only life-insurance company for the people till 2000. L.I.C.

still holds 71.4% of the market share in 2006.

But after the introduction of private life insurance companies there is a great

competition in Indian market now. Everyone is trying to capture the fresh market

here and penetrate it with aggressive marketing strategies.

5

In India only 25% of the population has life insurance. So Indian life-insurance

market is the target market of all the companies who either want to extend or

diversify their business.

Insurance is such industry where labour turn over is the maximum than that of any

other industry hence there is lot of scope for HR to work in recruitment and

selection process.

On the whole Bharti AXA life insurance is a good place to work at. Every new recruit

is provided with extensive training on unit linked funds, financial instruments and the

products of Bharti AXA. This training enables an advisor/sales manager to market the

policies better. The company should try to create awareness about itself in India. In

the global market it is already very popular. With an improvement in the sales

techniques used, a fair bit of advertising and modifications to the existing product

portfolio, Bharti AXA would be all set to capture the insurance market in India as it

has around the globe.

6

Indian Insurance Industry History:

Life insurance came to India from England in 1818 when oriental life insurance

company started in Calcutta by Europeans. After this many insurance companies

had been started in India. But these companies were looking after only the needs of

European community established in India. Indian people were not being insured by

these companies. First Indian life insurance company came as Bombay mutual life

insurance assurance. Second company was Bharat insurance company came in

1896. After this the united India in madras, national Indian and national insurance

in Calcutta and the co-operative assurance in Lahore were established in 1906.

To regulate Indian insurance business first insurance act came in 1912 as life

insurance company act and provident fund act. These acts consist of premium rates

tables and periodical valuations of companies. In the first two decade of 20 th

century many life insurance companies were started. So the insurance act came in

1938 to governing life and non life insurance companies and to provide strict state

control. In 1956 the life insurance business in India was nationalized. In 1956 life

insurance corporation of India (LIC) was created to spreading life insurance much

more widely particularly in rural areas. In that year LIC had 5 zonal offices, 33

divisional offices and 212 branch offices. In 1957 the business of LIC of sum

assured of 200crores, 1000crores in 1970, and 7000 cores in 1986.

7

KEY MILESTONES

1912 : The Indian Life Assurance Companies Act enacted as the first statute to

regulate the life insurance business.

1928 : The Indian Insurance Companies Act enacted to enable the government to

collect statistical information about both life and non-life insurance businesses.

1938 : Earlier legislation consolidated and amended by the Insurance Act with the

objective of protecting the interests of the insuring public.

1956 : 245 Indian and foreign insurers along with provident societies were taken

over by the central government and nationalized. LIC was formed by an Act of

Parliament- LIC Act 1956-with a capital contribution of Rs. 5 crore from the

Government of India.

8

Indian regulatory development authority:

In 1999, the Insurance Regulatory and Development Authority (IRDA) were

constituted as an autonomous body to regulate and develop the insurance industry.

The IRDA was incorporated as a statutory body in April, 2000. The key objectives

of the IRDA include promotion of competition so as to enhance customer

satisfaction through increased consumer choice and lower premiums, while

ensuring the financial security of the insurance market. The IRDA opened up the

market in August 2000 with the invitation for application for registrations. Foreign

companies were allowed ownership of up to 26%. The Authority has the power to

frame regulations under Section 114A of the Insurance Act, 1938 and has from

2000 onwards framed various regulations ranging from registration of companies

for carrying on insurance business to protection of policyholders’ interests.

Role of IRDA:

Protecting the interests of policyholders.

Establishing guidelines for the operations of insurers, and brokers.

Specifying the code of conduct, qualifications, and training for insurance intermediaries and agents.

Promoting efficiency in the conduct of insurance business.

Regulating the investment of funds by insurance companies.

Specifying the percentage of business to be written by insurers in rural sectors.

Handling disputes between insurers and insurance intermediaries.

9

Changing perception of Indian customers:

Indian Insurance consumers are like Indian Voters, they are soft but when time is

right and ripe, they demand and seek necessary changes. De-tariff of many

Insurance Products are the reflection of changing aspirations and growing demand

of Indian consumers.

For historical years, Indian consumers were at receiving end. Insurance Product

was underwritten and was practically forced onto consumers on a “Take-it-As-it-

basis”. All that got changed with passage of IRDA act in 1999. New insurance

companies have come into existence leading to open competition and hence better

products for customers.

Indian customers have become very sensitive to Coverage/Premium as well as the

Products (read Risk Solution), that is given to them. There are not ready to accept

any product, no matter even if that is coming from the market leader, should that

product is not serving the purpose. A case in point is ULIP Product/Group Life and

Credit Life in Life Insurance segment and Travel/Family Floater Health and

Liability Insurance in the Non-life segment are new age Avatar. The new products

are constantly being demanded by Indian consumers, which is putting huge

pressures on Insurance companies (Read Risk Under-writers) and Brokers to

respond.

Customers are looking at Insurance for covering Pure Risk now which I have

covered in my next section. Another good reason why we are seeing quick changes

in the buying behavior of Insurance from mere Investment to risk mitigation is the

cost of Replacement of Goods (ROG) or Cost of Services (COS).

10

Now Indian customers are aware of insurance industry and insurance products

provided by companies. They have become more sensitive. They would not accept

any type of insurance product unless it fulfills their requirements and needs. In

historic day’s customers looking at insurance products as a life cover which can

provide security against any unacceptable events, but now customers look at

insurance products as an investment as well as life cover. So today’s customers

wants good return from the insurance companies. The Indian customer’s forms the

pivot of each company’s strategy.

Investment of Indian Household Savings

(As a % in different sector)

BANK DEPOSITS 39%

CORP. BANKS 2%

SHARES AND DEBENTURES 1%

MUTUAL FUNDS 2%

NBFC’S 3%

GOVT. BONDS 13%

INSURANCE 13%

PF/ RETIRE FUNDS 21%

CURRENCY 6%

11

12

Changing Face of Indian Insurance Industry:

After the Insurance Regulatory and Development Authority Act have been passed

there has been establishment of many private insurance companies in India.

Previously there was a monopoly business for Life Insurance Corporation of India

(L.I.C.) who was the only life-insurance company for the people till 2000. L.I.C.

still holds 71.4% of the market share in 2006. But after the introduction of private

life insurance companies there is a great competition in Indian market now.

Everyone is trying to capture the fresh market here and penetrate it with aggressive

marketing strategies. Today life-insurance is not only limited up to just life risk

cover and maturity period bonuses but changed to greater return from the

investments. With the introduction of the unit linked insurance policies these

companies are investing the money in different investment instruments like shares,

bonds, debentures, government and other securities. People are demanding for

higher returns with the life risk cover and private companies are giving 30-40%

average growth per annum. These life-insurance companies have every kind of

policies suiting every need right from financial needs of, marriage, giving birth and

rearing up a child, his education, meeting daily financial needs of life, pension

solutions after retirement. These companies have every aspects and needs of our

life covered along with the death-benefit.

In India only 25% of the population has life insurance. So Indian life-insurance

market is the target market of all the companies who either want to extend or

diversify their business. To tap the Indian market there has been tie-ups between

the major Indian companies with other International insurance companies to start

up their business. The government of India has set up rules that no foreign

13

insurance company can set up their business individually here and they have to tie

up with an Indian company and this foreign insurance company can have an

investment of only 24% of the total start-up investment.

Indian insurance industry can be featured by:

Low market penetration.

Ever growing middle class component in population.

Growth of customer’s interest with an increasing demand for better

insurance products.

Application of information technology for business.

Rebate from government in the form of tax incentives to be insured.

Today, the Indian life insurance industry has a dozen private players, each of

which are making strides in raising awareness levels, introducing innovative

products and increasing the penetration of life insurance in the vastly underinsured

country. Several of private insurers have introduced attractive products to meet the

needs of their target customers and in line with their business objectives. The

success of their effort is that they have captured over 28% of premium income in

five years.

The biggest beneficiary of the competition among life insurers has been the

customer. A wide range of products, customer focused service and professional

advice has become the mainstay of the industry, and the Indian customer’s forms

the pivot of each company’s strategy. Penetration of life insurance is beginning to

cut across socio-economic classes and attract people who have never purchased

insurance before.

14

Life insurance is also now being regarded as a versatile financial planning tool.

Apart from the traditional term and saving insurance policies, industry has seen the

entry and growth of unit linked products. This provides market linked returns and

is among the most flexible policies available today for investment. Now products

are priced, flexible, and realistic and sustain so people in better position to

understand the risk and benefits of the product and they are accepting these

innovative products.

So it is clear that the face of life insurance in India is changing, but with the

changes come a host of challenges and it is only the credible players with a long

term vision and a robust business strategy that will survive. Whatever the

developments, the future and the opportunities in this industry will surely be

exciting.

There are 12 private players in Indian life insurance market.

6 bank owned insurers - HDFC standard life, ICICI prudential, ING Vysya,

MetLife, OM Kotak, SBI life

6 independent insurers - Aviva, ANP sanmar, Birla sun life, Bajaj Allianz, Max

New York life, Tata AIG, Bharti AXA

Major international insurers are- Prudential and Standard life from UK, Sun life of

Canada, AIG, MetLife and New York life of the US.

15

Increasing growth since liberalization:

YEAR LIC (in bn rs.) PRIVATE PLAYER

FY03 110 10

FY04 120 20

FY05 130 40

FY06 140 60

FY07 240 160

Source: - Insurance Industry (ICFAI publication book)

16

Corporate Profile

Bharti AXA Life Insurance is joint ventures between Bharti, one of India’s leading business groups with interests in telecom, agree business and retail, and AXA, world leader in financial protection and wealth management. The joint venture company has a 74% stake from Bharti and 26% stake of AXA.

The company launched national operations in December 2006. Today, company has over 5200 employees across over 12 states in the country. Our business philosophy is built around the promise of making people "Life Confident".

As company expand our presence across the country to cater to your insurance and wealth management needs with our product and service offerings, company continue to bring 'life confidence' to customers spread across India. Whatever your plans in life, you can be confident that Bharti AXA Life will offer the right financial solutions to help you achieve them. Company is working on the base of five core values-

Professionalism

Innovation

Team Spirit

Pragmatism

Integrity

17

BHARTI ENTERPRISES

BHARTITELETECH

BHARTITELECOM

BHARTIFOOD

BHARTISEYCHELLES

BHARTITELESOFT

TELETECHSERVICES

BHARTITELEVENTURE

.

50 Million (500 Lakhes Customers)

130,000 Employees

72 Billion Euros (Rs. 4, 16,300. Crores) Revenue

869 Billion Euros (Rs.50 24, 500.Crore) Asset Under Management

Key features:

Using multi-distribution, multi product platform techniques.

Adapting AXA's best practices as a sound platform for profitable growth.

Leveraging Bharti's local knowledge, infrastructure and customer base.

Delivering high levels of shareholder return.

Building long term value with business partners by enhancing the

proposition to their customers.

Retaining the best talent in India.

18

Vision

To be a leader and the preferred company for financial protection and wealth

management in India.

Promoter's Strength:

Bharti Enterprises is one of India’s leading business groups with interests in

telecom; agree business, insurance and retail. Its flagship telecom brand 'Airtel',

has over 60 million customers across the length and breadth of India.

AXA Group is worldwide leader in Financial Protection. AXA is among Fortune

Global 15 companies having 120,000 employees and is represented in over 60

countries worldwide.

Largest Insurer

AXA Group has 120,000 employees and is represented in over 60 countries

worldwide

Service Excellence

Company stand by three main commitments to our customers and agents, effective

local service, professional expertise, and professional code of ethics. Company aim

to build close and lasting relationships by offering expert advice, providing a

supportive environment and a full range of adapted solutions.

19

Information Technology Driven

Our commitment and continuous investment in Information Technology enables

the Company to provide unparalleled customer service.

Bharti AXA Club Member

Become a Bharti AXA Club Member and enjoy additional benefits.

Bharti AXA's Support for Our Agents

Company is looking for bright, self-motivated people who want to build a

successful career in insurance sales and consultancy. We offer good financial

rewards and recognition, comprehensive training, excellent back-up and the full

support of a world-class organization.

Strategy

To achieve a top 5 market position in India through a multi-distribution,

multi-product platform

To adapt AXA's best practice blueprints as a sound platform for profitable

growth

To leverage Bharti's local knowledge, infrastructure and customer base

To deliver high levels of shareholder return

To build long term value with our business partners by enhancing the

proposition to their customers

To be the employer of choice to attract and retain the best talent in India

To be recognized as being close and qualified by our customers

20

Strategic differentiators

Strong partner Bharti - provides access to customer base of more than 20

million

Multi channel execution capability

Current Asia product range which is a strong match to products sold to the

mass and mass affluent

Global scale providing cost effective and speedy re-use of systems, products

and business capability

Strong AXA and Bharti brands which can be leveraged to attract and retain a

high quality management team.

HRM POLICY

The guiding Human Resources principles at Bharti AXA are:

Clearly define scope of responsibilities and empower people to deliver

Provide people with the means to develop their competencies

Consider individual training and development a priority investment

Build organizations that are conducive to teamwork and that involve

everyone

Promote ongoing dialogue between managers and the people who report to

them

Make cultural difference a key source of strength.

Bharti AXA recognizes its employees as most important asset for its continued

growth. HRM in Bharti AXA strives hard to ensure continuous organizational

21

growth by nurturing strength of its employees and providing the environment &

opportunity for every individual to raise his/her highest potential identity and

achieve his/her personal goal, within organizational, societal, and national

objective. It shall endeavor to upload dignity of individuals by recognizing their

worthy contribution and making them feel proud partners in progress through

following measures:-

Ensuring high degree of selectivity in the recruitment of employees/trainees

explicitly on criteria of knowledge, skills and attitudes so as to secure super

achievers and nurture them to excel in their performance.

Impart such induction, orientation and training so as to match the individual

to taste and inculcate high sense of organizational loyalty, with continues

improved performance for betterment of company.

SOME OTHER IMPORTANT POLICIES:

Data recording and preservation

Communication policy

Free and healthy working environment

1) Data recording and preservation policy –

Data of each department is recorded and preserved by responsible person of each

department, and most important record of HR Department in Bharti AXA is

“WALK IN TRACKER.”

22

2) Communication policy-

We recognize the importance of the communication to anticipate, understand and

fulfill the needs and expectations of the employees. Therefore a strong emphasis is

laid on communication as a process of sharing information, creating awareness,

seeking suggestions and involving them for improvements in the business related

process so as to achieve the state of excellence.

The purposes and objectives of our communication policy are as under.

Collect, store and manage information & knowledge.

Communicate organization’s goals & objectives, policies & strategies to all

employees.

Foster close working relationships across the divisions and teamwork

throughout the organization.

Develop & deploy systematically top-down, bottom-up and horizontal

channels of communication.

Share best practices and knowledge freely and provide easy access to

relevant information.

23

3) Free and healthy working environment-

Provide facilities for all round growth of individual by training in and

outside the organization, re-orientation, talent, mobility and self-

development through self-motivation.

Groom every individual to realize his/her potential in all facets while

contributing to attempt higher organizational & personal goals.

Build teams and foster teamwork as primary instrument in all activities.

Recognitive worthy contribution is time and appropriately so as to maintain

a high level of employee motivation and morale.

Appraisals of promotion shall be ethical and impartial.

Implement equitable, scientific and objective system of rewards, incentives

and control.

Contribute towards health & welfare of employees.

HR specialists contribute to the goals and mission of the firm.

HRM uses performance appraisal techniques to measure and evaluate the

performance of the employees and then suggest them how to improve it.

HRM helps in proper recruitment and selection of the desired talent who can

prove beneficial to the sector.

HR department takes care of the work environment and maintains a quality work

culture in the organization.

24

Promoters

Bharti Enterprises

Bharti Enterprises is one of India’s leading business groups with interests in

telecom, agro business, insurance and retail. Bharti has been a pioneering force in

the telecom sector with many firsts and innovations to its credit. Bharti Airtel

Limited, a group company, is one of India’s leading private sector providers of

telecommunications services with an aggregate of 60 million customers, spanning

mobile, fixed line, broadband and enterprise services. Bharti Airtel was ranked

amongst the best performing companies in the world in the Business Week IT 100

list 2007. Bharti Teletech is the country’s largest manufacturer and exporter of

telephone terminals. Bharti has a joint venture with ‘Field Fresh Foods Pvt. Ltd’ -

for global distribution of fresh fruits and vegetables. Bharti also has a joint venture

- ‘Bharti AXA Life Insurance Company Ltd.’ - with AXA, world leader in

financial protection and wealth management. Bharti has recently forayed into the

retail business under a company called Bharti Retail Pvt. Ltd. It also has a joint

venture – ‘Bharti Wal-Mart Private Limited’ – with Wal-Mart, for wholesale cash-

and-carry and back-end supply chain management operations.

AXA Group

AXA Group is a worldwide leader in Financial Protection. AXA's operations

are diverse geographically, with major operations in Western Europe, North

America and the Asia/Pacific area. AXA had Euro 1,315 billion in assets under

management as of December 31, 2006. For full year 2006, IFRS revenues

amounted to Euro 79 billion, IFRS underlying earnings amounted to Euro

4,010 million and IFRS adjusted earnings to Euro 5,140 million.

25

The AXA ordinary share is listed and trades under the symbol AXA on the

Paris Stock Exchange. The AXA American Depository Share is also listed on

the NYSE under the ticker symbol AXA.

Bharti AXA General Insurance is a joint venture between Bharti, one of India’s

leading business groups with interests

in Telecom, Agri Business and Retail; and AXA, world leader in Financial

Protection and Wealth Management. Bharti Group holds 74% of equity and AXA

holds 26% of the equity.

The company was incorporate 13th July 2007 and plans to commence national

operations in August 2008. Headquartered in Bangalore, the company currently

has offices in 7 cities- Bangalore, Mumbai, Delhi, Ahmadabad, and Hyderabad,

Ludhiana and Chennai- and plans to grow to a total strength of 29 branches by the

end of the first year of operations. With a vision to become the leader and preferred

company for financial protection in India, Bharti AXA General Insurance offers its

customers - individuals and businesses- a wide range of products and services that

meet their insurance needs.

The company will leverage the Bharti Group’s large customer pool and develop a

strong multi channel distribution network in both urban and rural markets.

With a customer commitment to provide Fast, Fair & Friendly service in all

aspects of business, the company offers transparency, structured customer support

and trained manpower, backed by a robust IT platform. The company’s claims

philosophy is to offer prompt and hassle free claims service that deals with the

claims process with empathy.

The Management team at Bharti AXA consists of experienced leaders who are

passionate about their company’s vision and goals and are committed to the

26

development of Bharti AXA General Insurance as the preferred company for

Financial Protection in India.

The HR Research Process

A Research Design is the framework or plan for a study which is used as a guide in

collecting and analyzing the data collected. It is the blue print that is followed in

completing the study. The basic objective of research cannot be attained without a

proper research design. It specifies the methods and procedures for acquiring the

information needed to conduct the research effectively. It is the overall operational

pattern of the project that stipulates what information needs to be collected, from

which sources and by what methods.

As HR research is a systemic and formalized process, it follows a certain sequence

of research action. The marketing process has the following steps:

Formulating the problems

Exploration of the situation

Developing objectives of the research

Designing an effective research plan

Data collection techniques

Analysis of the collected data

Evaluating the data and preparing a research report

27

Organization Structure

Works through many channels marketing, human resource, finance, information

technology,

Marketing wing is divided in to -

1) DIRECT SALES FORCE – Have two tired salaried adviser force to target

the large and diverse Bharti Airtel customer base.

2) AGENCY-focus on building a highly productive agency force. This wing

needs high quality of training, and high quality recruitment.

3) BANK ASSURANCE- planes for developing strategic partnership with

quality banks.

4) CORPORATE AGENCY AND BROKING-CHANNEL- planes for

developing strategic partnership.

28

Direct Sales Force

HOM – Head of Marketing ZSM – Zonal Sales Manager RSM – Regional Sales Manager ARSM – Associate Regional Sales Manager AAM – Associate Area Manager SM – Sales Manager FO – Financial Officer FE – Financial Executive

29

HOM

ZSM

RSM

ARSM

AAM

SR.SM

SM SM-G SM-D

FO FO-G FO-D

FE FE-G FE-D

FA

SM

AM

Agency Structure

MOA – Agency Manager

BSM – Branch Sales Manger

30

Agency Head

RSM

ARSM

BSM

MOA

Advisor

Human Resource Structure

RHR – Regional HR

BDHR – Branch Development HR

31

Head HR

Organization

Development

HR

Compensation

BenefitHR

Recruitment

Staffing

Dypt. HeadHR

BDHR (10-12)

HR Executive

RHR WEST RHR SOUTHRHR NORTHRHR EAST

BDHR (10-12) BDHR (10-12) BDHR (10-12)

HR Executive

HR Executive

HR Executive

RESEARCH

METHODOLOGY

32

TYPES OF DATA

DATA COLLECTION

After the research methodology, research problem in HR has been identified and

selected; the next step is to gather the requisite data. There are two types of data

collection method – primary data and secondary data.

Primary data collection method for observing working of company and

approaching various persons of the HR Department and asking them

questions and notes written down while observing and assisting HR persons

in their work.

Secondary data collection method was used by referring to company

records, files, and journals, broachers various websites, books, magazines,

journals and daily newspapers for collecting information regarding project

under study.

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Recruitment and Selection Policy

Purpose

To hire the right candidate for the right job with the right skill set, within the

agreed time period, at optimum cost while following processes and complying with

frame work towards providing equal opportunity to applicants based on merit.

Policy

Delivering the total resource requirement is the first step in the staffing process and

comprising of the following steps:

1) Based on the business plan for the company, function wise headcount strength

required will be calculated for each quarter/ year, by the respective CEO. Once

approved by the CXO and CLT. Then this would be business operating plan.

2) Based on operation plan and skill set available internally respective recruitment

is planed keeping in mind the attrition rate detailing numbers to be recruited and

the sourcing strategy?

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SELECTION AND RECRUITMENT STEPS

Manpower planning:

This process involves identification of actual number of vacancies and kind of

vacancies, setting the target of total number of persons to be recruited in particular

department.

Job analysis:

Setting up the prescribed qualification, work skill, and experience for particular job

or post in a particular department.

Sourcing strategy:

- Internal sourcing- it may be promoting existing employee to upper post, or

may be selecting the candidates of employee reference.

- External sourcing -it involves the selecting candidates from placement

agencies, private consultancies, employee exchange.

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Recruitment Process

HIRING NEW POSITIONS (BUDGETING)

For all planed positions Resource Request Form (RRF) will be raised by the hiring

manager and set to HR.

Hiring new positions (non budgeted)

For any non budgeted recruitment that is over and above the Operational plan approval

from CEO is required.

Resource request form will be raised by the hiring manager and set to HR after the

required approvals.

Hiring against the replacement :

The same process is required for hiring new position that are budgeted needs to be

followed for hiring against a replacement.

Hiring lead time :

The normal lead time to fill up a requirement against the RRF is 8 weeks (56) days. This is

calculated from the date of receipt of RRF by HR with due approvals to the date selected

candidate joint Bharti AXA Life insurance company ltd.

Rehire :

Bharti AXA life insurance company ltd. Allows rehiring of ex employees subjected to

availability of suitable vacancy/opening and past performance of the employee.

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Selection process

Bharti-Axa Life Insurance Company has different functions. So it required different eligibility criteria for selection of the candidate.

Bharti-Axa takes care of interview as well as takes care of the payroll of selected candidates as it believes in permanent recruitment only.

The Assessment (Evaluation sheet) is used at Bharti-Axa to assess the candidates, who came for the interview.

The interview done with respect to

Qualification Communication skills

Experience

Job knowledge and personality

Details of current salary and current employer                     

Recruitment Trackers

The tracker is a tool to find out the status of line-up done by the consultant, personal sourcing by Human Resource Department, Employee reference and walk-in with respect to names of candidates lined up.

It is sent to HR (RO) of the company after every 15 days.

Advantages

1. It gives firm database for the user. 2. It allows user to check how many candidates are lined-up.

3. It also helps the user to keep tracks of the line-up(means how many candidates come from BFSI and Non-BFSI sector)

Recruitment and Selection process at Bharti-Axa Life Insurance.

Once the candidates lined up .Human Resource Department looks the following process

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a) Defining the job description: a job description is a list of general tasks ,or function and responsibilities of position.

b) Screening of resumes: once the candidates are outsourced they are called as for a screening round where HR assesses the candidates in areas of interpersonal skills, communication skills and general attitude of candidates as a whole.  SAT (Sales Aptitude Test)

Aptitude test is the next part of the process. it consist of three section. It is usually done to check candidates’ logical reasoning skills, analytical thinking and decision making.

Part 1

Decision making: background is given and on that basis they have to solve. This is to check the candidate’s decision making power as well as how they handle in certain situation.

Part 2

Logical Reasoning: In this section reasoning ability of the candidates is being tested where they have to opt the most feasible option.

Part 3

Numerical Ability: In the last section numerical ability of the candidates is tested.

Candidates who have qualified the test is short listed for personal interview to respective function (higher authority).

Interviews are taken by the respective functions manager and the best candidates are selected as per the requirements and perception.

The function reporting manager then informs the HRD as to which candidates are selected. Here negotiation of the salary is being discussed and if he feel comfortable to the said amount he becomes the part of Bharti- Axa.

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Completing formalities by HR section

For completion of formalities candidates has to fill up the following two kits.

1 Prejoining kits:This is done to release the offer letter where candidates has to submit the following details

Experience

a. CV b.2 reference number

c. CTC details (three months salary slip/six months bank statement).If the candidates is on off role it is necessary for them to produce the offer letter of previous company.

Fresher

a. CV b.2 reference number (Reporting manager number where the candidates has

done project report and college placement coordinator or faculty members number)

Offer acceptance and reporting

When joining formalities is completed Bharti Axa issues two copies of offer letter of appointment which should be duly signed and one copy has to be returned to HR department.

Signing of the offer letter would imply that the candidate has accepted the job offer.The reporting date and time is communicated to the candidate. So here the recruitment and selection process is completed once the offer letter is issued and accepted

Joining kits

As soon as the offer letter is being release the final process of joining formalities is joining kits.

1.Letter of appointment and acceptance from the candidates

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2.Associate manual

3.PF Form

4. IT declaration

5.6 passport size photograph

6.10th, 12th graduation certificates and mark sheets(photocopy +original)

7.Address proof

8.Birth proof

9.PAN card/Driving licence

10.Birth details of the family members

11.Blood group of the applicant

The documents cited above are to be duly signed and handed over to BhartiAxa Life Insurance Company 

Basic norms:

Qualification – minimum graduation

For fresher hiring – 60% and above in all exams starting from the class 10 th for

any change / modification in percentage requirement special approval would be

required from HR.

Reference check - External reference (minimum 2) is carried out for each selected

candidate. Reference check is done with prior consent of the candidate and needs

to be done with someone who the candidate has to be done with is at level of

manager and above is not a relative.

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Incase selected candidate is from the insurance industry one internal reference

check has to be conducted and appropriately documented.

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Acceptance Of Resume

Walk-in HR Consultancy Reference

Call for Interview

DSF Agency BancaAssurance

HR Screening HR Screening HR Screening

*(SM) Sales Interview

*(BSM) Sales Interview

*(ARM) Sales Interview

3rd RoundArea Manager *(ARSM)

1st Round

2nd Round

EVALUATION FORM :

The form which is to be filled by interviewers, which contains the remarks

given by them to the candidates on various criteria such as previous

experience, confidence level, communication skill, personality, etc.

Job experience of only banking, financial services, insurance, retail, FMCG,

pharmacy, telecom, direct selling, is counted.

This form is to be filled by line manager (interviewer), and he has to sign that

form with date.

Then interviewer judges the candidate with overall rating–

Excellent

Very good

Good

Average

Bellow average

*(specimen copy of evaluation form is attached with annexure)

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PROCESS TO GENERATE THE OFFER LETTER

After the interview short listed candidates are asked to submit following

documents:

1) A copy of resume

2) Salary proof

(For the candidates who were working previously.)

3) Offer letter of the previous company.

(For the candidates who were working previously.)

4) Reference numbers.

For the fresher –

Project guide

College professors

For the experience holder -

Previous employer

Reporting manager

Colleague

(No reference number of relative and friends is allowed.)

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Pre-joining Process

First step:

Second step:

Candidate has to sign and accept the offer letter and copy of his offer letter has submitted to HR,

and one copy he can retain with him.

On the date of joining candidates are required to submit remaining documents.

1) All educational details

(10th, 12th, graduation certificates.)

2) Address proof

3) Id proof

(PHOTO COPY OF PAN CARD, DRIVING LICENSE, ETC.)

After submission of all these documents, Head Office will generate candidates Employee Code.

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Resume + evaluation sheet + salary proof + Reference check form + Pass port size photo

Pre joining kit + resume + salary proof + resignation letter (of previous company)

To send all these documents to Regional Office

Regional Office will Generate the Offer Letter

When candidate gets the employee code, he becomes the employee of the company. Then after

that he gets company “ID card”, and company ‘e-mail id’.

Training

Training for sales persons, FE, FO, MOA (Financial executive, financial officers, agency

manager.) is compulsory.

Each newly joined such candidate has to undergo training program.

Company has team of trainers, and such trainer gives training to such new employee for 7 days.

Such training program includes:

- Company knowledge

- Norms and etiquettes of the company.

- Product knowledge.

Campus recruitment process:

Placement coordinator to approach HR manager.

HR Manager to fill the response form if interested.

Area manager and HR manager visits institute for recruitment, during campus placement.

There is no sales interview during campus, just HR and Area manager conducts interview

at once and selects the candidates.

Remaining procedure for recruitment is same.

Generally there are three rounds for the candidates to crack the selection procedure, but here

there is just one interview.

Company generally prefer the campus recruitment because :

1) Company can cut down the commission of placement consultancy.

2) Company can put their own bargaining for salary and can select next alternative candidate on

that spot only without time and monetary expenses.

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FINDINGS AND SUGGESTIONS

Questionnaire

1) What are the sources of getting maximum and good quality profiles? Kindly rate

them in scale of 1-5 (1- Average, 2- Good, 3-Very good, 4-Excellent, 5-

Outstanding) Internal reference

a) Portals

b) Advertisement

c) Consultancy

d) Headhunting

e) Internal reference

f) Campus

Inrepretation out of 30 samples:1]77% people referring consultancy is good source for getting good profiles.2] 14% people referring internal reference is good for getting good profiles.

3]3% are referring job portal, campus and advertisement as good source.

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2) What is the conversion ratio of the consultancy in Bharti Axa life insurance Company?

a) Below 50

b) Between 50 and 100

c) Above 100

Interpretation:

1] 10% people saying conversion ratio at BAL is Below 50.

2] 30% people saying conversion ratio at BALis in Between 50 and 100.

3] 40% people saying conversion ratio at BAL is Above 100.

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3). Does your organization plan the Recruitment Policy?

Interpretation:

1] 40% people saying that our organization is planning the Recruitment Policy.

2] 60% people saying that our organization is not planning the recruitment policy.

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4) After selection of candidates what is the TAT (Turn around time) for offer release?

a) Same day

b) Between 2 and 3 days.

c) Above 3 days.

Interpretation

1] 25% people saying BAL releases offer on same day.

2] 35% people saying BAL releases offer in between 2 and 3 days.

3] 40% people saying BAL releases offer in Above 3 days.

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5) Which are the major sectors BHARTI AXA LIFE INSURANCE target for hiring?

a) BFSI

b) Non BFSI

c) None of the Above

Interpretation :-

1] 45% people saying our major sector is BFSI .

2] 35% people saying our major sector is Non BFSI .

3] 20% people saying our major sector is None of the Above.

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6) What criteria’s do you consider while screening a profile?

Age

Qualification

Work Experience

References if any

Interpretation :-

1] 10% people saying while screening a profile, Age is our major consideration.

2] 50% people saying while screening a profile, Qualification is our major consideration.

3] 25% people saying while screening a profile, Work Experience is our major consideration.

4] 15% people saying while screening a profile, Work Experience is our major consideration.

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7) What is the percentage of candidates who clear the Aptitude Test?

a) Between 10% and 50%

b) Between 50% and 90%

c) Above 90%

Interpretation :-

1] 10% people saying the percentage of candidates who clear the aptitude test is Between 10% and 50% .

2] 70% people saying the percentage of candidates who clear the aptitude test is Between 50% and 90%.

3] 20% people saying the percentage of candidates who clear the aptitude test is Above 90%.

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8) How do Insurance Companies evaluate a candidate in his/ her HR interview?

a) Personality.

b) Communication Skills

c) Salary Negotiation.

d) Work Experience.

Interpretation:-

1] 25% Companies saying our evaluation of Candidates is based on personality.

2] 35% Companies saying our evaluation of Candidates is based on Communication Skills.

3] 30% Companies saying our evaluation of Candidates is based on Salary Negotiation.

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9) What is the percentage of abort level (Decline) of candidate who has been offered by you?

a) Below 10%

b) Between 20% and 50%

c) Above 50 %

Interpretation :

1] 20 people saying the Decline Ratio is Below 10%.

2] 45 people saying the Decline Ratio is Between 20% and 50%.

3] 35 people saying the Decline Ratio is Above 50%.

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10) General reason candidate do not join?

a) Counter offer

b) Retention by current employer

c) Do not want to relocate

d) No reason communicated

Interpretation :-

1] 10% people saying the reason for candidate who don’t join is Counter Offer.

2] 30% people saying the reason for candidate who don’t join is Retention by Current Employer.

3] 20% people saying the reason for candidate who don’t join is they don’t want to relocate.

4] 40% people saying the reason for candidate who don’t join is No reason communicated.

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11) Do you think the present Recruitment Policy is helpful in achieving the Goals of the Company?

a) YES.

b) NO.

c) TO SOME EXTENT

Interpretation :-

1] 40% people saying our Recruitment Policy is helpful in achieving our

Goals.

2] 35% people saying our Recruitment Policy is helpful in achieving our

Goals.

3] 25% people saying our recruitment policy is helpful to some extent in

achieving our Goals

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Research Analysis

Bharti AXA recruited maximum candidates from the placement consultancies; proportion of walk In and employee referral candidates is very small.

Experienced candidates (from the same field) were given preference, rather than fresher, but the post for which the candidate is to be recruited was also making difference.

Interview procedure is bit lengthy, instead of having three different rounds by three different

persons it can be a single panel interview three such persons. Hence we can save time and can

make working bit faster.

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LIMITATIONS:

Organization did not disclose full information.

Data collected in this field are not sufficient

Time limitation

Some of the respondents were not forthcoming with information as they thought it to be a waste of time.

Convenience sampling has been used, so the data may not be of that quality level as obtained by complete enumeration.

Respondent’s lack of time to give information and their casual attitude was a big hindrance in the study

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Conclusion

The objective of the project of studying the “Recruitment & Selection Process” has been

achieved during the course of time. It was found that the recruitment and selection process of

Bharti AXA is efficient and effective in recruitment of the Financial Executive, Financial

Officer, and Agency Manager etc.

The entire process is crucial and of vital importance for the recruitment of candidates.

It was also found that placement agencies are the preferred source of recruitment in Bharti

AXA.

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Annexure

1) Interview evaluation form

2) Offer checklist

3) Reference check form

4) Employee referral form

5) Offer letter

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Interview Evaluation Form

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Offer ChecklistOffer Checklist

Name of the Employee :

Designation :

Request for Offer Form

CV

Interview Evaluation Form

Reference Check Form – (2nos)

CTC Details & Salary Slip

Tracker Update

CV Database/Tracker

MIS Tracker

MPower Contact Id.

Offer Letter No.

RRF No.

Document Made by Document Checked by

Location :

DOJ :

E – Code :

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Reference Check Form

F#/HRR/07/03/v1

EMPLOYMENT REFERENCE CHECK

Applicant’s Name:

Department & Function:

Position Applied For:

Location

 

      Ref Check done with:  Currently with:

Duration of professional acquaintance:

      Nature of acquaintance:

Name of the Company:

      What are the key professional accomplishments of the applicant, according to your

knowledge of the person?

 

      In your opinion, what is the applicant’s significant strength? (Please highlight)

 

      How would you rate his/her professional and personal competencies for the position applied for?

 

      What do you think are the areas of improvement for the applicant?

 

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      Any other information, which you would like to share, that will help us in taking a

decision to employ the applicant

 

In your view, what do you think was the reason of his/her leaving the job?

 

      Would you consider re-employing this person? If not, why?

 

       How would you rate the applicant on:

Interpersonal relations & Low Med High

ability to work in team

Integrity Low Med High

Name & Signature: Date:

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Employee Referral Form

EMPLOYEE REFERRAL FORM

 

NAME __________________________ Date_________________

 

ECODE __________________________ DOJ _________________

 

I am referring (please fill all information)

 

Name _____________________________ Phone No.:_________________

Position Applied For_____________________ Current Organization_________________

Current Designation ______________________

Please comment on the following for your referral:

Significant Strengths - _______________________________________________________

Professional & Personal Competencies - ________________________________________

Areas of Improvement - ______________________________________________________

 

I understand that:

 

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If I am the first to refer this person and he/she is hired, I will receive this employee referral bonus;

For all entry level sales positions at Executive and Senior Executive level (FE, FO, MOA, SM etc) across all sales channels, a one-time payout is made through payroll after the new joinee completes 6 months with Bharti-AXA Life

For all other positions, a one-time payout is made through payroll after the new joinee completes 3 months with Bharti-AXA Life

The bonus will be paid through payroll and will attract applicable taxes.

I hereby agree that the Employee Referral Policy and Guidelines would be applicable for bonus payouts.

 

Encl: Resume

Signature_______________________________

 

Human Resources Use Only:

Date Received___________________________ Resume Shortlisted: Yes No

Interview Date ___________________________ Status: Selected / Rejected / Hold:

 

If Selected, Date of Hiring __________________

Approved for Payment ______________________(Yes / No)

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Offer Letter

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Bibliography

Reference to a book: R.S. Dwivedi, Managing human resources Personnel management, 2nd edition. K. Ashwathapa, Human resource and personal management.

Reference to Websites:- www.bharti-axalife.com - www.avivaindia.com- www.google.co.in - www.irda.org.in

OtherBharti AXA manuals.

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