hdfc recruitment report

7/30/2019 Hdfc Recruitment Report

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A

PROJECT REPORT

ON

A STUDY OF SATISFACTION OF NEW RECRUITS

WITH RECRUITMENT AND INDUCTION AT

HDFC LIFE INSURANCE LTD

SUBMITTED BY

PRACHI.B. NARUTE

IN PARTIAL FULFILMENT OF POST GRADUATION

DIPLOMA IN MANAGEMENT

UNDER THE GUIDENCE OF

PROF ANAHAT HULYALKAR

CHETANA INSTITUTE OF MANAGEMENT &

RESEARCH

AUGUST 2012


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DECLARATION

I hereby declare that the project entitled

A STUDY OF SATISFACTION OF NEW RECRUITS

WITH RECRUITMENT AND INDUCTION PROCESS

AT HDFC LIFE INSURANCE LTD

Submitted in partial fulfillment of the requirements for the Degree of post

graduation diploma in Management is my original work and the project has not

formed the basis for the award of any degree, diploma, associate ship,

fellowship or similar other titles. It has not been submitted to any other

university or institution for the award of any degree or diploma.

Place: Mumbai Name: Prachi Narute

Date: 13/08/2012 Roll No.: Pg c 153


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ACKNOWLEDGEMENT

I express my sincere thanks to my project guide, Prof Anahat Hulyalkar,

Associate professor of Chetana Institute of Managment & Reasearch for

guiding me right form the inception till the successful completion of the project.

I sincerely acknowledge them for extending their valuable guidance, support for

literature, critical review of project and the report and above all the moral

support they had provided to me with all stages of this project.

I would like to express big thanks to Mr Rejoy Varghese my industry guide for

his all time support and time to time guidance. His experience, knowledge and

support lead me to complete my project timely and successfully.

My thanks are due to all those who have directly or indirectly helped me in

preparing this project report. However, I accept the sole responsibility for any

possible error of omission and would be extremely grateful to the readers of this

project report if they bring such mistakes to my notice.

Place: Mumbai Name: Prachi Narute

Date: 13/08/2012 Roll No.: pg c - 153


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EXECUTIVE SUMMARY

Human Resource Management (hrm) is a function within organization that focus on

recruitment of , management of and providing direction. of the people, who work in the

organization. Human resource management is the organizational functional that deal with the

people who work in the organization. Human resource Management deals with the issue

related to people such as compensation, hiring performance management organization

development safety welfare employee motivation, communication, administration and

training.

The role of HR is thus a intricate web of hiring, recruiting, promoting and mentoring italso

involves activity like performance appraisal layoffs employee disciplining.since human

resource has to do everything to do with people related issues , hr professional also conductbehavioural assessment, leadership development, talent management and knowledge

management

People differ in the abilities and their aptitude. There is always a difference between the

quality and quantity of the same work on the same job being done by two different people.

Managing human resource in todaysdynamic world has become more and more complex as

well as important, recognition of people as a valuable resource in the organisation has led to

increases trends in employee maintenance, job security etc.

Finding the people is a make or break factor for success in business today.recruitning the toptalent for jab takes time and you have to attract quality candidate who has a knowledge and

skill needed to help your company grow.

For every organisation it is important to have a right person on a right job. recruitment and

selection plays a very important role in this situation. Shortage o skills an use of new

technology are putting considerable pressure on how employer go about recruiting and

selecting staff. Talent acquisition is a process to discover the sources of manpower to meet

the requirements of the staffing schedule and to effective measure off attracting the

manpower in aadequate number to facilitate effective selection of efficient personnel

Right person for the right job is the basic principle of everyrecruitment and selection ever

organizationshould give attention to the selection of itsmanpower, especially its managers

The operative manpower is equally important and essential for the orderly working of an

enterprise. Every business unit need manpower to carry out routine business activities

smoothly and efficiently and for its recruitment and selection of suitable candidate are

essential. Human resource management in an organisation will not be possible if suitable

person are selected and employed in a business unit. Report also includes research

methodology with the help of questioinnare .sample size of 30 employees of hdfc life

insurance.


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SR NO CONTENTS PG NO

1 Introduction

1.1 Company profile

1.2 Definition and purpose of the project

1.3 Scope and objective of the project

1.4 Salient contribution of the project

2 Review of literature

2.1 Theoretical framework, backgroundhistory

3 Research Methodology

3.1.1 Research design

3.1.2 Data Collection Source

3.1.3 Data Collection Method

3.1.4 Data CollectionInstrument(Questionnaire)

3.1.5 Sampling plan

3.1.6 Sampling

3.1.7 Data analysis technique


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SRNO

CONTENT PG NO

3.2 Classification of data

3.3 Processing and Analysis of Data

4 Result and Interpretation

4.1 Details about the outcome andinterpretation of result

5 Conclusion

5.1 Salient conclusion from the work

6 Limitation of the project

7 Recommendation

7.1 Guidelines for implementation based onconclusion

7.2 Scope for future work

Bibliography


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1. INTRODUCTION

1.1 INTRODUCTION TO HDFC LIFE INSURANCE

HDFC Life, one of India's leading private life insurance companies, offers a range ofindividual and group insurance solutions. It is a joint venture between HousingDevelopment Finance Corporation Limited (HDFC), India's leading housing financeinstitution and Standard Life plc, the leading provider of financial services in the UnitedKingdom.

HDFC Ltd. holds 72.37% and Standard Life (Mauritius Holding) Ltd. holds 26.00% ofequity in the joint venture, while the rest is held by others.

HDFC Life's product portfolio comprises solutions, which meet various customer needssuch as Protection, Pension, Savings, Investment and Health. Customers have the addedadvantage of customizing the plans, by adding optional benefits called riders, at a nominal

price. The company currently has 25 retail and 9 group products in its portfolio, along with10 optional rider benefits catering to the savings, investment, protection and retirementneeds of customers.

HDFC Life continues to have one of the widest reaches among new insurance companies

with about 500 branches in India touching customers in over 900 cities and towns.Thecompany has also established a liaison office in Dubai. HDFC Life has a strong presence inits existing markets with a strong base of Financial Consultants.

Our Vision & Values

Our Vision

'The most successful and admired life insurance company, which means that we are themost 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'.

Our Values

Values that we observe while we work:

Integrity Innovation Customer centric People Care "One for all and all for one"


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Team work Joy and Simplicity

HDFC Life believes that establishing a strong and ethical foundation is an essential

prerequisite for long-term sustainable growth. To ensure this, we have concentrated our

focus on expansion of branch network, organising an efficient and well trained sales force,

and setting up appropriate systems and processes with optimum use of technology. As all

these areas form the basic infrastructure for establishing the highest possible customer

service standards.

Our core values are drilled down to all levels of employees, as these are inviolable. We

continue to promote high integrity in business practices and shun short cuts and unethical

practices, as we wish to be perceived as an institution with high moral standing. Since our

inception in 2000, when the Indian insurance space was opened for private participation, we

have consistently focused on setting benchmarks in all aspect on insurance business. Beingthe first private player to be registered with the IRDA and the first to issue a policy on

December 12, 2000, our differentiators are


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AWARDS AND RECOGNITIONS

BestPrax Benchmark 2012 Award

HDFC Life received the BestPrax Benchmark Award 2012 for Leadership Governance in theService category. BestPrax Benchmark is an annual award that recognizes organizations thathave best managerial practices. HDFC Life has been adjudged the winner by an eminent

panel for Scenario Planning, Assessment of Integrated Reality & risk (AIRr) andVision & Values Communication- GOAL.

Best Product Innovation Award at Indian Insurance Award2012

Received the Best Product Innovation Award for its product - SampoornSamriddhi.Thecompany has received Award for the second consecutive year. This award seeks to honour alife insurer that has launched an innovative product that has set the benchmark in terms offulfilling an un-met customer need in the domain. The product innovation, besides being anindustry first, should have been well-received by the target audience. The jury, through thisaward compliments the product development thought-leadership of the recipient.

Bloomberg UTV Financial Leadership Awards

Conferred with the 'Life Insurer of the Year' Award at the Bloomberg UTV FinancialLeadership Awards 2012. Bloomberg UTV Financial Leadership Awards have beeninstituted to acknowledge extraordinary contribution of Indias financial leaders and

visionaries.

Celent Model Insurer Global Award

HDFC Life has been selected, among the 23 Insurance Companies Worldwide, as a ModelInsurer 2012, for the use of Enterprise Wide Learning via the Internet by Celent USA. HDFCLife has also won the Celent Model Insurer Asia 2012 award.

5th Loyalty Awards 2012 - Insurance Sector (Life)

Declared as the winner for Customer & Brand Loyalty in 'Insurance Sector - Life. Theseawards recognize Customer loyalty efforts of Companies across various sectors. The Themeof this year's Summit was 'Driving Loyalty through Customer Experience Management'


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Century International Quality ERA Award

Received the award in Gold Category. Century International Quality ERA is based onExcellence in Leadership and Business Management, Quality and Excellence, Business andBrandname Prestige, and Technology, Innovation and Expansion.

My FM Star of the Industry Awards Excellence in Life Insurance

HDFC Life won the Silver award for Excellence in Life Insurance.The Stars of the Industry

Awards recognises individual and corporate excellence across the banking and financialservices sector. These Awards were decided by an eminent Jury comprising seniorprofessionals. The Awards were given away in 17 categories.

CFO100 Roll of Honour

A tribute to exceptional contribution to corporate finance

Best Marketing Strategy - Asian Leadership Awards

The Asian Leadership Awards is about Achievers, Super Achievers and Future BusinessLeaders. It recognizes and rewards their ability to steer their businesses through turbulenttimes, applying the best of business modules to manage and keep their missions afloat.

India's Most Trusted Service Brand 2011

Ranked India's Most Trusted Private Life Insurance Brand in 2011 in a survey conducted byEconomic Times-Brand Equity and the Nielsen Company.

Golden Peacock HR Excellence Award

Received the Golden Peacock HR Excellence Award for the year 2011 in the 'BankingFinancial & Insurance Sector. This award acknowledges HDFC Lifes efforts towards

innovative people management processes and talent engagement and development initiatives

in the highly dynamic Indian life insurance industry.


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HR ORGANISATION STRUCTURE AT HDFC LIFE INSURANCE

( REGIONAL OFFICE )

ASSOCIATE VICE PRESIDENT

HUMAN RESOURCES

HUMAN RESOURCE MANAGER

REGIONAL HUMAN RESOURCES

(DADAR)

REGIONAL HUMANRESOURCES

(VASHI)

REGIONAL HUMAN RESOURCES

(ANDHERI)


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1.3 SALIENT CONTRIBUTION OF PROJECT

The information used in this project is collected from employees . So this project

describes various hidden views of what employees think of the HR recruitment and selection

process Following are some contribution of the project.

1. Overview of recruitment and selection process adapted by HDFC LIFE

2. Identify the factors which affect the organization reputation and How to deal

With them.

3. Employees feedback about interview process and what changes they need it.

4. New method that company should adapted inorder to save the time of candidate


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2. REVIEW OF LITERATURE

2.1 INSURANCE INDUSTRY IN INDIA

Indian Insurance Industry is one of the booming Industries of the economy and is growing at

the rate of 15-20 % per annum. Insurance is being a federal subject in India and which is

governed by Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and GeneralInsurance Business (Nationalization) Act, 1972, Insurance Regulatory and Development

Authority (IRDA) Act, 1999 and other related Acts.

According to the Life Insurance Council, the Indian life insurance industry is considered the

fifth largest life insurance market with US$ 41-billion & growing at a rapid pace of 32-34%

annually. In March 2010 the Life Insurance Corporation of India (LIC) registered an 83%

increase in new business income, while private players posted a 47% growth in new business

premium. According to IRDA, the insurers in the year 2009-2010 sold 10.55 million new

policies with LIC selling 8.52 million and private companies 2.03 million policies. In the year

March 2010, LIC held 65% market share in terms of new business income collection with the

private sector contributing the remaining 35% share in 2009-10.

The life insurance industry in India grew by an impressive 36%, with premium income fromnew business at Rs. 253.43 billion during the fiscal year 2004-2005, braving stiff

competition from private insurers. RNCOSs report, Indian Insurance Industry:

NewAvenues for Growth 2012, finds that the market share of the state behemoth, LIC, has

clocked 21.87% growth in business at Rs.197.86 billion by selling 2.4 billion new policies

in 2004-05. But this was still not enough to arrest the fall in its market share, as private

players grew by 129% to mop up Rs. 55.57 billion in 2004-05 from Rs. 24.29 billion in

2003-04.


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Though the total volume of LIC's business increased in the last fiscal year (2004-2005)

compared to the previous one, its market share came down from 87.04 to 78.07%. The 14

private insurers increased their market share from about 13% to about 22% in a year's time.The figures for the first two months of the fiscal year 2005-06 also speak of the growing

share of the private insurers. The share of LIC for this period has further come down to 75

percent, while the private players have grabbed over 24 percent.

There are presently 12 general insurance companies with four public sector companies and

eight private insurers. According to estimates, private insurance companies collectively have

a 10% share of the non-life insurance market.

Though the focus of this market research report is on the potential growth on the Indian

Insurance Sector, it also talks about the market size, market segmentation, and key

developments in the market after 1999. The report gives an instant overview of the Indian

non-life insurance market, and covers fire, marine, and other non-life insurance.


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RECRUITMENT PROCESS AT HDFC LIFE INSURANCE

The insurance sector is marked with a high level of attrition and therefore recruitment

process becomes a crucial function of the organization. At HFDC Life Insurance,

recruitment is all time high during May-June and Oct-Nov. The attrition is high among the

sales managers, mostly in the sales profile. The recruitment is high during these months

due to the fact that March and September are half year closing and business is high during

Jan-Mar. Thus it is only after March that people move out of the companies.

NEED IDENTIFICATION

The 1st step toward the recruitment process is the regional HR gets an man power budget

related to how much number of employee is to be filled for a given month. Man power

budget is based on the number of requirement , the number of attrition rate.

The another way of filling the vacancy is through the L1 managers, Every L1 manager

handles 10 sales development manager, as in case if there is any absconding related to this

sales development managers, the L1 manger can directly report it to the regional managers

in order to the the vacancy for the same.

FINDING THE RIGHT SOURCE

Major sourcing of the candidate at HDFC is done through

1. Employee referral policy (PARICHAY)2. Job portals3. Campus recruitment4. Consultancy5. Walk ins


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EMPLOYEE REFERRAL

Employee referral is an internal recruitment method employed by organizations to identify

potential candidates from their existing employees' social networks. An employee referral scheme

encourages a company's existing employees to select and recruit the suitable candidates from theirsocial networks. As a reward, the employer typically pays the referring employee a referral bonus.

Recruiting candidates using employee referral is widely acknowledged as being the most cost

effective and efficient recruitment method to recruit candidates and as such, employers of all sizes,

across all industries are trying to increases the volumes they recruit through this channel.

Rewards is given to the referring employee based on the designation of the referred

employeeDuring the month of May, June and July, candidates are majorly recruited through

employee referral

2) JOB PORTALS

HDFC recruit candidate through job portal like naukri .com, monster.com. Candidates are shortlisted through this job portals . HDFC create an job description on the this portals based onvacancy to be filled.. Candidate are suppose to mail there resume in the link which is specified inthe job description.

3)CAMPUS RECRUITMENT

Campus recruitmentare the good source of hiring the candidate.Campus Recruitmnet isdone where by candidates fromvarious colleges of Mumbai were short listed by HDFC forthe designation of Sales Development Managers.most preference where given to youngfreshers for this designation.

4) PLACEMENT AGENCY

Hdfcgives more preference to consultancy for hiring employees.HDFC has tie up withmore than 35 consultancy for sourcing the candidate.ofdiferrent designations like salesdevelopment managers, sales development nanager-corporate agency, corporate agencymanager, senior corporate agency managers,hdfc gets minimum 15 candidates from eachconsultancy. The rate which the consultancy charge there commission is 8.33% of the ctcofthe employee plus 12.36 % service tax. The consultancy charge there commission afterone week of joining of the employee.


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5) WALK INS

A walk-in interview occurs when an individual can interview for a job position withouthaving a pre-scheduled appointment. In some cases, attending a job fair may qualify forthis type of interview

HDFC has its 3 hr region i.eVashi, Dadar, Andheri..Each region conduct various walk indrives for various designation. Its the responsibility of the particular regionalhr to conductthe hr round of interview

STEP 2

HDFC LIFE APTITUDE TEST (HAT)

Candidate has to undergo and aptitude test in order to clear for the basic round. Candidateis judged in different parameter like Analytical test, Reasoning ability and mathematics.Once the candidate is clear in the aptitude test than only he is eligible for the hr round ofinterview.

1ST

ROUND INTERVIEW

This process is very important as it gives the first hand information of the candidate, The1st round of interview is conduction by the regional hr where by initial screening of the

candidate is done , where in potential of the candidate is observed . Being an insurance

industry the HR judge how much potential does the candidate has in order to perform the

sales job.The regional hr goes through the resume and ask general questions like

The qualification of the candidate

The interest in the sales profile of the candidate

Other areas of interest

Hobbies, skills

The rounds of interview is different for different designation

For eg : For sales development managers the there are 3 three rounds of interview

For trainers there are 4 round including one presentation of 10-15 minutes infront of the

HR manager and the company trainers.


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Second round of interview for SDM is conducted by the circle manager wherein the

potential of the candidate is judged E.g. is the candidate is comfortable for the sales job,

different parameter are judged, the third round is conducted by the branch manager. But the

1st hr round has to be conducted in the regional office.

Rounds of interview For the designation of trainers,

1st round is of hr round where initial screening of the candidate is done,

2ndround by Hr manager

3rd round by trainer of hdfclife

4th round the candidate has to give the presentation on the topic like contribution of

insurance sector to the Indian economy, the presentation will for 10-15 min which will be

judged by the regional hr , hr manager and trainer.

In the interview round trainer judged how knowledge the candidate has regarding the

insurance industry and insurance product, doest he/she has an experience as a trainer, or

he/she has an sales experience, how well he can give training to the newly recruited

candidates of hdfc life regarding how to generate sales for hdfc.

Once the candidate is selected he will receive an email regarding his selection and

informationregarding documents which he is supposes to submit for the processing of the

offer letter.

OFFER LETTER PROCESSING

A job offer is given by the hr manager and it is a document that confirms the detail of an

offer of employment .The job offer letter includes details such as job description reportingrelationship, salary , provident fund detail, gratuity details and more. The job offer letter

generally confirms the term the employer and the candidate have agreed to for this

employment during negotiation

Offer letter is send to the candidates respective email id along with details of document

which is required for joining, candidate mail the required document to the respective e-

mail id of the hr department


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JOINING FORMALITIES

Once he offer letter is given to and accepted by the applicant thejoing formalities are

explain to him. The candidate has to fill the joining kit, wherein has to fill the entiredetails mentioned in that joining kit He has given a list of document which he has to

submit to the hr department who then maintain a file with his record in it and allots him an

employee code, the list of document is as follows

Copies of educational qualification Copies of pan card Address proof Leave certificate from the prior employer

Photo identity proof Experience certificate if any 6 passport size photos

Once the joining of the candidate is done hr maintain the joining traker wherein the details

to the joined candidate is maintained, this tracker contain the personal details of candidate

Eg: name, address, contact details email id etc.

After the joining, very next day the andidate gets his employee code, which will help hi to

mark his attendance.

INDUCTION

AFTER the joining of the candidate ,he has to undergo for training for seven days, wherein

various information of the product is give by the trainer, how to boost up the sales, how tomeet the targets, within this seven days, the regional hr gives induction,wherein he explain

all the rules and regulation, its policies to employees where in regional hr tries to motivates

the newly joined candidates through his presentation. Candidates ae made aware of evry

small aspects and rule of the organisation.


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CONFIRMATION POLICY

For the designation of sales development managers After the joining of the employee, he

gets confirm after six month in hdfc, during this six month he has to achieve the target

stated by hdfc life.


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3. RESEARCH METHODOLOGY

The study will be conducted to achieve the aforesaid objectives including both exploratory

and descriptive in nature and involve personal interviews that will be based on the

questionnaire format. A Research Methodology defines the purpose of the research, how itproceeds, how to measure progress and what constitute success with respect to the objectives

determined for carrying out the research study.

The research process that will be adopted in the present study consists of the following

stages:-

3.1.1 RESEARCH DESIGN

A research design is the specification of methods and procedures for acquiring the

information needed to structure or solve the problem. It is the overall operational pattern or

framework of the project that stimulates what information is to be collected from which

source and by what procedure. On the basis of major purpose of our investigation the

EXPLORATORY RESEARCH was found to be most suitable. This kind of research has the

primary objective of development of insights into the problem. It studies the main area where

the problem lies and also tries to evaluate some appropriate courses of action.

3.1.2 DATA COLLECTION SOURCES:

PRIMARY SOURCES-The data required for the study has been collected from-

QUESTIONNAIRE survey among the officials employees.

PERSONAL INTERVIEWS with the company employees

regarding Recruitment and Selection.

SECONDARY SOURCES-The secondary data has been collected from:

Internet, websites Business magazines Books


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3.1.4 SAMPLING METHOD

Survey was done by random sampling method.

3.1.5 SAMPLE SIZE

Sample size can be 30.

3.1.6 SAMPLE AREA

HDFC LIFE INSURANCE REGIONAL OFFICE

3.1.7 MODE OF ANALYSIS

The instrument used for data collection was in the form of questionnaire. The questionnaire

was used as it facilitates the tabulation and analysis of the data to be collected. The data

collected was subjected to simple frequency distribution and percentage analysis.


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DATA COLLECTION INSTRUMENT (QUESTIONNAIRE)

Q1) . Does the Job Responsibilities and Job Description are clearly defined to the candidates

appearing for selection process ?

a. Yes

b. No

Q2) Is the organization doing timeliness recruitment and Selection process.

a. Yes

b. No

Q3) . Does the HR team act as a consultant to enhance the quality of the newly joined employees?

a. Yes

b. No

Q4) Which is the most important quality the organization looks for in a candidate?

a. Knowledge

b. Past Experience

c. Optimistic Nature

d. Discipline

e. Team Work Ability

f. Other

Q5) Do you think organization is using satisfactory methods of interview?

a. yes

b. no


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Q6) How will you rate the selection policy of the human resouces

a) Good

b) Average

c) Poor

Q7) Do you think there hr need to improve the interview process

a) yes

b) no

Q8. Does the organization do proper Job Analysis before Selection Process begins?

a. Yes

b. No

Q9) How do you find the behaviour of the regional hr at the time of recruitment process

a. good

b. average

c. poor


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3.2 CLASSIFICATION OF DATA

Sample size- 30 employees

Q1. Does the organization do proper Job Analysis before Selection Process begins?

a. Yes

b. No

Yes the organization do proper job analysis before selection process, as during the time of interview

they have to be very clear about the job profile

Q2. Does the Job Responsibilities and Job Description are clearly defined to the candidates

appearing for selection process ?

a. Yes

b. No

80

20

YES

NO


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Majority of the candidate says that at the timeof interview candidates are not given complete

information of the job profile at the time of interview, and because of which there is high level of

attrition in this industry

Q3. Is the organization doing timeliness recruitment and Selection process.

a. Yes

b. No

Majority of the candidate says that they have been called at a particular date and time for the

interview process, the only days on which they are not called is Saturday

Q4. Should the HR team act as a consultant to enhance the quality of the newly joined employees?

a. Yes

b. No

70

30

YES

NO

30

70

NO

YES


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Majority of the candidate says yes, hr should give motivation at the time of induction, so thenew employee in order to work hard and achieve the targets

Q5. Which is the most important quality the organization looks for in a candidate?

a. Knowledge

b. Past Experience

c. Optimistic Nature

d. Discipline

e. Team Work Ability

f. Other

Hr gives more importance to team work as sales development managers has to work in team andknowledge because candidate of sales profile have to have knowledge of sales and also of discipline

because he is representing hdfc life

83

17

YES

NO

30

236

3

33

3KNOWLEDGE

DISCIPLINE

PAST EXPERIENCE

OPTIMISTIC NATURE

TEAM WORK

OTHERS


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Q6. Do you think organization is using satisfactory methods of interview?

a. Yes

b. No

Yes hdfc uses satisfactory level of interview, as there are total three round of interview

1st human resources round

2nd and 3rd with circle manger and branch manager

Q7) How will you rate the selection policy of the human resources

a) Good

b) Average

c) Poor

83

17

YES

NO

10

80

10

GOOD

AVERAGE

POOR


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4. RESULTS AND INTERPRETATION

4.1 DETAILS ABOUT THE OUTCOME AND INTERPRETAION OF

THE RESEARCH

The out come of the research are as follows

The organization do proper job analysis before selection process, as during the time of

interview they have to be very clear about the job profile yet there is a high level of

attriton.and more over still Majority of the candidate says that at the time of interview

candidates are not given complete information of the job profile at the time of interview,

and because of which there is high level of attrition in this industry

Majority of the candidate says yes, hr should give motivation at the time of induction, to

the new employee in order to work hard and achieve the targets

Hr gives more importance to team work as sales development managers has to work in

team and knowledge because candidate of sales profile have to have knowledge of sales

and also of discipline because he is representing hdfc life

Majority of the candidates says hr should give more importance to the selection process,

they should not be keep waiting or a long time at the time of interview.

44% of the employees says the behaviour of the hrs is average, because hr should give

more importance to the candidate valuable time, more over competency round of

interview round should be given more importance by the HR department.eg hr should

give more importance to the exit interview

Hr gives more importance to team work as sales development managers has to work in

team and knowledge because candidate of sales profile have to have knowledge of sales

and also of discipline because he is representing hdfc life.


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5. CONCLUSION

Recruitment and selection is a day to day process is carried out in hdfc lifeinsurance as there is high amount of attrition in this industry It is a greatresponsibility of the regional hr to hire right person for the right designation

Recruitment and selection is a strategic and long term policy that focus on selectingtalent the best talent that is available

Regional hr has to be very particular regarding the hiring of an candidate

Due to attrition the opening are available in a large number, do to which there hasbeen misplace of lot of documents due to which the joining of the candidate isdelayed

During the time of interview proper time should be allotted to the candidate, due towhich the crucial time of the candidate may get wasted

A proper excel tracker is maintained by the hr of the candidate who are rejected inthe interview round

Candidate do proper observation o the HR department behaviour.

Time factor is not taken into consideration by the HR department, due to whichcandidates are getting frustrated

Candidates are getting more pressure from the line managers, due to which there islot of attrition from the middle level employees


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7. RECOMMENDATIONS

7.1 GUIDELINES FOR THE IMPLEMENTATION FOR FUTURE

WORK

Candidate should not be kept waiting for a long time during the time of interview,more importance should be given for candidate valuable time.

During the time of walk-ins candidate should not be called at the same time, HRshould see to it that the respective manager is available at that point of time to carryout the second round of interview

A good impression should be created by the hr on the mind of the candidate Asfirst impression is the last impression, if the candidate is rejected he should fill thathe has missed an important opportunity of not been selection in the interview round

During the time of walk in and processing the offer letter, proper documentationshould not be misplaced by the hr department due to which there is an delay inthe interview as well as joining process

Competency based interview round should be made the regional hr, by which itwould be easier for the manager to conduct the second round of interview

HR should give clear idea of the profile for the which the candidate has applied

As there is lot of attrition going on in hfdc life, more importance should be givenon employee motivation, exit interviews and more consulting should be given bythe hr department

There should be more friendly environment should be created b the line managerswith the candidate, by which the employee will fill motivated to work in the sales

job.

Hr should give more importance to induction session by which he could motivatethe newly joined candidates, especially fresher who do not have sales experience,

by which attrition will reduced to some extend.


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7.2 SCOPE FOR FUTURE WORK

Insurance industry has a high amount of attrition rate, especially in the middle levelmanagers, in that case, human resources has to be very particular regarding therecruitment and selection process,

HR should see to it that more competency based interview round should be conducted atthe time of interview

At the time of Walk ins proper time should be allotted by the hr, candidates should not bekept waiting for long period of time

HR should see to it that wrong impression is not being created in the mind of thecandidates

If proper motivation is given to the employees at the time of induction by HR as well as bythe line managers than attrition will be reduced to a large extend

If such above things are taken into consideration by the hr department then attrition rate ofhfdc life will reduce to a large extend


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BIBLIOGRAPHY

http://recruitment.naukrihub.com/meaning-of-recruitment.html http://www.hdfclife.com/ http://www.rncos.com/Report/FM033.htm http://www.moneycontrol.com/news/insurance/outlook-

forinsurance-sector2012_661546.html

http://www.citehr.com/ Times of India (ascent)
http://recruitment.naukrihub.com/meaning-of-recruitment.htmlhttp://recruitment.naukrihub.com/meaning-of-recruitment.htmlhttp://www.hdfclife.com/http://www.hdfclife.com/http://www.rncos.com/Report/FM033.htmhttp://www.rncos.com/Report/FM033.htmhttp://www.moneycontrol.com/news/insurance/outlook-forinsurance-sector2012_661546.htmlhttp://www.moneycontrol.com/news/insurance/outlook-forinsurance-sector2012_661546.htmlhttp://www.moneycontrol.com/news/insurance/outlook-forinsurance-sector2012_661546.htmlhttp://www.moneycontrol.com/news/insurance/outlook-forinsurance-sector2012_661546.htmlhttp://www.moneycontrol.com/news/insurance/outlook-forinsurance-sector2012_661546.htmlhttp://www.citehr.com/http://www.citehr.com/http://www.citehr.com/http://www.moneycontrol.com/news/insurance/outlook-forinsurance-sector2012_661546.htmlhttp://www.moneycontrol.com/news/insurance/outlook-forinsurance-sector2012_661546.htmlhttp://www.rncos.com/Report/FM033.htmhttp://www.hdfclife.com/http://recruitment.naukrihub.com/meaning-of-recruitment.html

hdfc recruitment report

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