madahava behara

8/19/2019 madahava behara

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INTRODUCTION OF HR

According to Leon C.Megginson , the term Human Resources can be thought o as,! The

tota" #no$"edge, s#i""s , creati%e abi"ities, ta"ents and a&titudes o an organi'ations $or#orce, as$e"" as the %a"ue, attitudes and be"ies o the indi%idua"s in%o"%ed!. The term Human Resources

can a"so be e(&"ained in the sense that it is a resource "i#e an) other natura" resource.

It does mean that the management can get and use the s#i"", #no$"edge, abi"it) etc.,

through the de%e"o&ment o s#i""s, ta&&ing and uti"i'ing them again and again. Thus, it is a "ong

term &ers&ecti%e $hereas a &ersonne" is a short term &ers&ecti%e. Human Resources are a"so

regarded as Human actor, human asset, human ca&ita" and the "i#e. The terms "abour and Man

&o$er had been used $ide") denoting most") the &h)sica" abi"ities and ca&acities o em&"o)ees.

The term &ersonne" had been used $ide") in the recent &ast to denote the &ersons em&"o)ed in

an) organisations.Thus, this term denotes the em&"o)ee as a $ho"e but it does not c"ear") denote

%arious com&onents o Human Resources "i#e s#i""s, #no$"edge, %a"ues,etc.

Human resources is a term used to describe the indi%idua"s $ho com&rise the $or#orce

o an organi'ation, a"though it is a"so a&&"ied in "abor economics to, or e(am&"e, business

sectors or e%en $ho"e nations. Human resources is a"so the name o the unction $ithin an

organi'ation charged $ith the o%era"" res&onsibi"it) or im&"ementing strategies and &o"icies

re"ating to the management o indi%idua"s *i.e. the human resources+. This unction tit"e is oten

abbre%iated to the initia"s HR .

Human resources is a re"ati%e") modern management term, coined in the -/0s. The

origins o the unction arose in organi'ations that introduced $e"are management &ractices and

a"so in those that ado&ted the &rinci&"es o scientiic management.

From these terms emerged a "arge") administrati%e management acti%it), co1ordinating a

range o $or#er re"ated &rocesses and becoming #no$n, in time as the &ersonne" unction.

Human resources &rogressi%e") became the more usua" name or this unction, in the irst

instance in the United 2tates as $e"" as mu"tinationa" cor&orations, re"ecting the ado&tion o a

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http://en.wikipedia.org/wiki/Human_resource_managementhttp://en.wikipedia.org/wiki/Human_resource_managementhttp://en.wikipedia.org/wiki/Human_resource_management


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more 3uantitati%e as $e"" as strategic a&&roach to $or#orce management, demanded b)

cor&orate management and the greater com&etiti%eness or "imited and high") s#i""ed $or#ers.

4e) unctions5

Human Resources ma) set strategies and de%e"o& &o"icies, standards, s)stems, and

&rocesses that im&"ement these strategies in a $ho"e range o areas. The o""o$ing are t)&ica" o

a $ide range o organi'ations5

• Recruitment, se"ection, and on boarding *resourcing+

• Organi'ationa" design and de%e"o&ment

• 6usiness transormation and change management

• 7erormance, conduct and beha%ior management

• Industria" and em&"o)ee re"ations

• Human resources *$or#orce+ ana")sis and $or#orce &ersonne" data

management

• Com&ensation, re$ards, and beneits management

• Training and de%e"o&ment *"earning management+

Im&"ementation o such &o"icies, &rocesses or standards ma) be direct") managed b)

the HR unction itse", or the unction ma) indirect") su&er%ise the im&"ementation o such

acti%ities b) managers, other business unctions or %ia third1&art) e(terna" &artner organi'ations.

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N99D FOR TH9 2TUD:

The main reason or stud)ing the Recruitment and 2e"ection ana")sis is to #no$ the

recruitment &ractices underta#en b) the organi'ations.

Recruitment &rocess in%o"%es "ot o $or# in getting &ositi%e &roi"es or &eo&"e.

The need o the &ro;ect is to ana")'e and ind the actors, $hich satis) the needs and

$ants o %arious c"ient organi'ations.

This stud) dea"s $ith the to&ic


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O6>9CTI?92 OF TH9 2TUD:

To understand the &rocess o recruitment and se"ection o agent in 6harti A@A "ie

insurance.

On The &ro;ect ga%e a &ractica" e(&osure and he"&s in ac3uiring the on road s#i""s.

Ho$ to recruits agent or 6harti1A@A "ie insurance.

To #no$ about the %ie$ o genera" &ub"ic about the ;ob o agent.

h) &eo&"e are not $i""ing to $or# $ith as an agent, es&ecia"") $ith &ri%ate &"a)er.

To introduce 6harti A@A to those &eo&"e $ho donBt ha%e an) #no$"edge about 6harti

A@A and its &roducts and ser%ices.


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Research Methodo"og)

Research Methodo"og) is the in%estigation o s&eciic &rob"em in detai". At irst &rob"em is

deined careu"") or conducting research. There shou"d be a good research &"an or conducting

research. No research can be done $ithout data co""ection. Ater a"" this ana")'e is made or

getting so"ution or &rob"em.

Deining the &rob"em

Deining the sam&"ing &"an

Co""ection o data

Ana")'e and inter&retation

Defining the problem

Deining the research &rob"em is irst necessar) ste& or an) research. This $or# shou"d be done

careu""). Here research &rob"em is to #no$ $i"iness o genera" &ub"ic to $or# as an agent $ith

&ri%ate &"a)er or 6harti1A@A "ie insurance.

Sampling plan

The sam&"ing &"an ca""s or three decisions.

A+ 2am&"ing Unit5 I ha%e com&"eted m) sur%e) in Ra;ahmundr)..

6+ 2am&"e 2i'e5 The se"ection o 80 res&ondents. The sam&"e $as dra$n rom Co""ege students.

The se"ection o the res&ondent $as done on the basis o sim&"e random sam&"ing.

C+ Contract methods


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I ha%e conducted the res&ondent through &ersona" inter%ie$s.

Research Instrument

A c"ose riend 3uestionnaire $as constructed or m) sur%e). Euestionnaire consisting o a set o

3uestions made to i""ed b) %arious res&ondents.

Collecting the Information

Ater this, I ha%e co""ected the inormation rom the res&ondent $ith the he"& o 3uestionnaire.

Analyze the Information

The ne(t ste& is to e(tract the &ertinent inding rom the co""ected data. I ha%e tabu"ated the

co""ected data de%e"o&ed re3uenc) distributions.

Thus the $ho"e data $as grou&ed as&ect $ise and $as &resented in tabu"ar rom. Thus,

re3uencies &ercentages $ere to render im&act o the stud).

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LIMITATION2

The &eriod o stud) ha%ing been %er) short.

As the mangers o the organi'ation are bus) $ith their $or# schedu"e. It $as

diicu"t to co""ect detai"ed data.

Most o the candidates not ha%e communication s#i""s and the) did not ha%e an) idea

about the recruitment and the conditions o the mar#et.

6harti A@A Lie Insurance Com&an) has "o$ mar#et in rura" areas.

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INDUSTRY PR!I"#

$%AT IS INSURANC#

The business o insurance is re"ated to the &rotection o the 9CONOMIC ?ALU92 OF A229T2.

9%er) asset has a %a"ue. The asset $ou"d ha%e been created through the eorts o the o$ner. The

asset $ou"d ha%e been created through the eorts o the o$ner. The asset is %a"uab"e to the

o$ner, because he e(&ects to get some beneits orm it. It is a beneit because it meets some o his needs. The beneit ma) be an income or in some other orm. In the case o a actor) or a co$,

the &roduct generated b) it is so"d and income is generated. In the case o a motor car, it &ro%ides

comort and con%enience in trans&ortation. There is no direct income. 6oth are assets and

&ro%ide beneits.

9%er) asset is e(&ected to "ast or a certain &eriod o time during $hich it $i"" &ro%ide the

beneits. Ater that, the beneit ma) not be a%ai"ab"e.

There is a "ie1time or a machine in actor) or a co$ or a motor car. None o them $i"" "ast

ore%er. The o$ner is a$are o this and he can so manage his aairs that b) the end o that &eriod

or "ie1time, a substitute is made a%ai"ab"e. Thus he ma#es sure that the beneit is not "ost.

Ho$e%er, the asset ma) get "ost ear"ier. An accident or some other unortunate e%ent ma) destro)

it or ma#e it inca&ab"e o gi%ing the beneits. An e&idemic ma) #i"" the co$ sudden"). In that

case, the o$ner and those en;o)ing the beneits thereore, $ou"d be de&ri%ed o the beneits. The

&"anned substitute $ou"d not ha%e been read). There is an ad%erse or un&"easant situation.

Insurance is a mechanism that he"&s to reduce the eects o such ad%erse situations. It &romises

to &a) to the o$ner or beneiciar) o the asset, a certain sum i the "oss occurs.

%ISTRY ! INSURANC#

Insurance has been #no$n to e(ist in some orm or other since =000 6C. The Chinese

traders, tra%e"ing treacherous ri%er ra&ids $ou"d distribute their goods among se%era"


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%esse"s, so that the "oss rom an) one %esse" being "ost, $ou"d be &artia" and shared, and

not tota". The 6ab)"onian traders $ou"d agree to &a) additiona" sums to "enders, as the

&rice or $riting o the "oans, in case o the shi&ment being sto"en. The inhabitants o

Rhodes ado&ted the &rinci&"e o genera" a%erage o genera" a%erageB, $hereb), i goods

are shi&&ed together, the o$ners $ou"d bear the "osses in &ro&ortion, i "oss occurs, due

to ;ettisoning during distress. JCa&tains o shi&s caught in storms, $ou"d thro$ a$a)

some o the cargo to reduce the $eight and restore ba"ance. 2uch thro$ing a$a) is ca""ed

;ettisoningK The ree#s had started bene%o"ent societies in the "ate G th centur) AD, to

ta#e care o the unera" and ami"ies o members $ho died. The great ire o London in

-///,in $hich more than -=000 house $ere "ost, ga%e a boost to insurance and the irst

ire insurance com&an), ca""ed the ire oice, $as started in -/0.

The origins o insurance business as in %ogue at &resent, is traced to the L"o)dBs Coee

House in London. Traders, $ho used to gather in the L"o)dBs coee house in London,

agreed to share the "osses to their goods $hi"e being carried b) shi&s. The "osses used to

occur because o &irates $ho robbed on the high seas o because o bad $eather s&oi"ing

the goods or sin#ing the shi&. In India, insurance began in -- $ith "ie insurance being

transacted b) an 9ng"ish com&an), the Orienta" Lie Insurance Co. in -G0 in Mumbai.

This $as o""o$ed b) the 6harat Insurance co. in -/ in De"hi, the 9m&ire o India in

-G in Mumbai, The United India in Chennai, the Nationa", the Nationa" Indian and

Hindustan Coo&erati%e in 4o"#ata.

Later, $ere estab"ished the coo&erati%e Assurance in Lahore, the 6omba) Lie *origina"")

ca""ed the s$adeshi "ie+, the India Mercanti"e, the ne$ India and the >u&iter in Mumbai

and the La#shmi in Ne$ De"hi. These $ere a"" Indian com&anies started as a resu"t o the


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s$adeshi mo%ement in the ear") -00s. 6) the )ear -/, $hen "ie insurance business

$as nationa"i'ed and the "ie Insurance Cor&oration o India *LIC+ $as ormed on-st

2e&tember -/, there $ere -G0 com&anies and G &ro%ident und societies transacting

"ie business in India. Ater the amendments to the re"e%ant "a$s in -, the L.I.C. did

not ha%e the e(c"usi%e &ri%i"ege o doing "ie insurance business in India. 6) =-..800G,

si(teen ne$ "ie insurers had been registered and $ere transacting "ie insurance business

in India.

The Histor) o Insurance in India

Some of the important milestones in the life insurance business in In&ia are'

--8 1 The Indian Lie Assurance Com&anies Act enacted as the irst statute to regu"ate

the "ie insurance business.

-8 1 The Indian Insurance Com&anies Act enacted to enab"e the go%ernment to co""ect

statistica" inormation about both "ie and non1"ie insurance businesses.

-= 1 9ar"ier "egis"ation conso"idated and amended to b) the Insurance Act $ith the

ob;ecti%e o &rotecting the interests o the insuring &ub"ic.

-/ 1 8 Indian and oreign insurers and &ro%ident societies ta#en o%er b) the centra"

go%ernment and nationa"i'ed. LIC ormed b) an Act o 7ar"iament, %i'. LIC Act, -/,

$ith a ca&ita" contribution o Rs. crore rom the o%ernment o India.

The enera" insurance business in India, on the other hand, can trace its roots to the

Triton Insurance Com&an) Ltd., the irst genera" insurance com&an) estab"ished in the

)ear -0 in Ca"cutta b) the 6ritish.

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-+ #asy settlement an& protection against cre&itors'

The "ie assured can name a &erson or &ersons to $hom the &o"ic) mone)s $ou"d be &a)ab"e in

the e%ent o his death. The &roceeds o a "ie insurance &o"ic) can be &rotected against. The

c"aims o the creditors o the "ie are assured b) eecting a %a"id assignment o the &o"ic). A

married $omenBs &ro&ert) act &o"ic) constitutes a trust in a%or o the $ie and chi"dren and no

se&arate assignment is necessar). The beneiciaries are u"") &rotected rom creditors e(ce&t to

the e(tent o an) interest in the &o"ic) retained b) the assured.

.+ A&ministering the legacy for beneficiaries'

It oten ha&&ens that a &ro%ision $hich a husband or ather has made through insurance is

3uic#") "ost through s&ecu"ati%e or un$ise in%estment or b) unnecessar) e(&enditure on

"u(uries. These contingencies can be &ro%ided against in the case o insurance. The &o"ic)ho"der

can arrange that in the in the e%ent o his death the beneiciar) shou"d recei%e, instead o a sing"e

sum *a+. &a)ment o the net c"aim amount b) e3ua" insta""ments o%er a s&eciied &eriod o )ears,

or *b+.&a)ment o the c"aim amount b) sma""er month") insta""ments o%er the se"ected &eriod

o""o$ed b) a "um& sum at the end thereo.

/+ Rea&y mar0etability an& suitability for 1uic0 borro(ings'

Ater an initia" &eriod, i the &o"ic) ho"der inds him unab"e to continue &a)ment o &remiums he

can surrender the &o"ic) or a cash sum. A"ternati%e") he can tide o%er a tem&orar) diicu"t) b)

ta#ing "oan on the so"e securit) o the &o"ic) $ithout de"a). Further a "ie insurance &o"ic) is

sometimes acce&tab"e as securit) or a commercia" "oan.

2+ Ta3 relief'

For com&uting income ta( *es&ecia"") in India the Indian income ta( act+ o""o$s deduction rom

income ta( &a)ab"e, a certain &ercentage o a &ortion o the ta(ab"e income o indi%idua"s $hich

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is di%erted to &a)ment o insurance &remiums. hen this ta( re"ie is ta#en into account it $i""

be ound that the assured is n eect &a)ing a "o$er &remium or his insurance.

%o( Insurance $or0s

The mechanism o insurance is %er) sim&"e. 7eo&"e $ho are e(&osed to the same ris#s come

together and agree that, i an) one o the members suers a "oss, the others $i"" share the "oss

and ma#e good to the &erson $ho "ost. A"" &eo&"e $ho send goods b) shi& are e(&osed to the

same ris# re"ated to $ater damage, shi& sin#ing, &irac), etc. those o$ning actories are not

e(&osed to these ris#s, but the) are e(&osed to dierent #inds o ris#s "i#e, ire, hai"storms,

earth3ua#es, "ightening, burg"ar), etc. "i#e this, dierent #inds o ris#s can be identiied and

se&arate grou&s, made inc"uding those e(&osed to such ris#s. 6) this method, the ris# is s&read

among the communit) and the "i#e") big im&act on one is reduced to sma""er manageab"e

im&acts on a"".I a >umbo >et $ith more than =0 &assengerBs crashes, the "oss $ou"d run into

se%era" crores o ru&ees. No air"ine $ou"d be ab"e to bear such a "oss. It is un"i#e") that man)

>umbo >ets $i"" crash at the same time. I -00 air"ine com&anies ")ing >umbo >ets, come

together into an insurance &oo", $hene%er one o the ;umbo ;ets in the &oo" crashes, the "oss to be

borne b) each air"ine $ou"d come do$n to a e$ "a#hs o ru&ees. Thus, insurance is a business

sharingB.

Ro"e o Insurance in 9conomic De%e"o&ment

For economic de%e"o&ment, in%estments are necessar). In%estments are made out o

sa%ings. A "ie insurance com&an) is a ma;or instrument or the mobi"i'ation o sa%ings

o &eo&"e, &articu"ar") rom the midd"e and "o$er income grou&s. These sa%ings are

channe"ed into in%estments or economic gro$th.

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An insurance com&an)Bs strength "ies in the act that huge amounts come b) $a) o

&remiums. 9%er) &remium re&resents a ris# that is co%ered b) that &remium. In eect,

thereore, these %ast amounts re&resent &oo"ing o ris#s. The unds are co""ected and he"d

in trust or the beneit o the &o"ic)ho"ders.

The management o insurance com&anies is re3uired to #ee& this as&ect in mind and

ma#e a"" its decisions in $a)s that beneit the communit). This a&&"ies a"so to its

in%estments. This is $h) successu" insurance com&anies $ou"d not be ound in%esting in

s&ecu"ati%e %entures. Their in%estments beneit the societ) at "arge.

The s)stem o insurance &ro%ides numerous direct and indirect beneits to the indi%idua"

and his ami") as $e"" as to industr) and commerce and to the communit) and the nation

as a $ho"e. Those $ho insure, both indi%idua"s and cor&orate, are direct") beneited

because the) are &rotected rom the conse3uences o the "oss that ma) be caused b) the

accident or ortuitous e%ent. Insurance, thus, in a sense &rotects the ca&ita" in industr) and

re"eases the ca&ita" or urther e(&ansion and de%e"o&ment o business and industr).

The %er) e(istence o ris# that is, uncertaint) concerning the uture, is a se%ere handica&s

in economic acti%ities. Insurance remo%es the ear, $orr) and an(iet) associated $ith this

uture uncertaint) and thus encourages ree in%estment o ca&ita" in business enter&rises

and &romotes eicient use o e(isting resources.

Thus insurance encourages commercia" and industria" de%e"o&ment and there b)

contributes to a %igorous econom) and increased nationa" &roducti%it).

7resent da) organi'ation o industr), commerce and trade de&end entire") on insurance

or their o&eration, ban#s and inancia" institutions "end mone) to industria" and

commercia" underta#ings on") on the basis o the co""atera" securit) o insurance. No

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ban# or inancia" institution $ou"d ad%ance "oans on &ro&ert) un"ess it is insured against

"oss or damage b) insurab"e &eri"s.

Insurers are c"ose") associated $ith se%era" agencies and institutions engaged in ire "oss

&re%ention, cargo "oss &re%ention, cargo "oss &re%ention, industria" saet) and road saet).

6eore acce&tance o a ris#, insurers arrange sur%e) and ins&ection o the &ro&ert) to be

insured, b) 3ua"iied engineers and other e(&erts.

The ob;ect o these sur%e)s is not on") to assess the ris# or rating &ur&oses but a"so to

suggest and recommend to the insured, %arious im&ro%ements in the ris#, $hich $i""

attract "o$er rates o &remium and $hat is more im&ortant , reduce the "oss &otentia". For

e(am&"e, burg"ar) sur%e)ors ma#e recommendation in regard to securit) measures such

as better "oc#ing s)stem, a&&ointment o atchman, etc. 9ngineering sur%e)s &"a) a most

useu" &art in accident &re%ention as %a"uab"e technica" ad%ice is &ro%ided in res&ect o

&"ant and machiner).

Insurance ran#s $ith e(&ort trade, shi&&ing and ban#ing ser%ices as earner o oreign

e(change to the countr). It he"&s to earn oreign e(change and re&resent in%isib"e e(&orts.

List o Insurance Com&anies Listed in Dierent :ears

List o Lie Insurance Com&anies

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-= -08 8=.-0.8000

Ro)a" 2undaram A""iance InsuranceCom&an) Limited

- -0= 8=.-0.8000

Re"iance enera" Insurance Com&an)Limited.

- -0/ 0.-8.8000 IFFCO To#io enera" Insurance Co.Ltd

-/ -0 88.0-.800-

TATA AI enera" InsuranceCom&an) Ltd.

-G --= 08.0.800-

6a;a; A""ian' enera" InsuranceCom&an) Limited

- -- 0=.0.800-

ICICI Lombard enera" InsuranceCom&an) Limited.

- -=- 0=.0.80

0G

A&o""o D4? Insurance Com&an)

Limited

80 -=8 0.0.800G

Future enera"i India InsuranceCom&an) Limited

8- -= -/.--.800G

Uni%ersa" 2om&o enera" InsuranceCom&an) Ltd.

88 -8- 0=.0-.8008

Re"iance Lie Insurance com&an) Ltd.

8= -88 -.0.8008

A%i%a Lie Insurance Co. India 7%t.Ltd.

8 -8G 0/.08.800

2ahara India Insurance Com&an) Ltd.

8 -8 -G.--.800

2hriram Lie Insurance Com&an) Ltd.

8/ -=0 -.0G.800/

6harti A@A Lie Insurance Com&an)Ltd.

-/

2.No. Registration Number

Date o Reg. Name o theCom&an)

- -0- 8=.-0.8000

HDFC 2tandard Lie InsuranceCom&an) Ltd.

8 -0 -.--.8000

Ma( Ne$ :or# Lie Insurance Co.Ltd.

= -0 8.--.8000

ICICI 7rudentia" Lie InsuranceCom&an) Ltd.

-0G -0.0-.800-

4ota# Mahindra O"d Mutua" LieInsurance Limited

-0 =-.0-.800-

6ir"a 2un Lie Insurance Com&an)Ltd.

/ --0 -8.08.800-

Tata AI Lie Insurance Com&an)Ltd.

G --- =0.0=.800-

26I Lie Insurance Com&an)Limited .

-- 08.0.800-

IN ?)s)a Lie Insurance Com&an) 7ri%ateLimited

--/ 0=.0.800-

6a;a; A""ian' Lie InsuranceCom&an) Limited

-0 --G 0/.0.80

0-

Met"ie India Insurance Com&an) Ltd.

-- -== 0.0.800G

Future enera"i India Lie InsuranceCom&an) Limited

-8 -= -.-8.800G

ID6I Fortis Lie Insurance Com&an)Ltd.

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17/97

8G -== 0.0.800G

Future genera" Indai "ie InsuranceCo.Ltd

8 -= -.-8.800G

ID6I Fortis Lie Insurance Com&an)Ltd.

8 -=/ 0.0.800

Canara H26C Orienta" 6an# o Commerce Lie

Insurance Com&an) Ltd.

=0 -= 8G.0/.800

Aegon Re"igare Lie InsuranceCom&an) Ltd.

=- -0 8G.0/.800

DLF 7ramerica Lie InsuranceCom&an) Ltd.

List o enera" Insurance Com&anies

- -8= -.0G.8008

Cho"amanda"am enera" InsuranceCom&an) Ltd.

8. -8 8G.0.8008

9(&ort Credit uarantee Cor&oration Ltd.

=. -8 8G.0.8008

HDFC1Chubb enera" Insurance Co. Ltd.

- -= 8G.0/.800

6harti A(a enera" Insurance Com&an) Ltd.

8 -- -.-8.800

Rahe;a E69 enera" Insurance Co. Ltd

6rie histor) o Insurance Com&anies in India

There are so man) insurance com&anies $ere estab"ished in India.

-. Re"igare Lie Insurance5

A9ON Re"igare Lie Insurance Com&an) Ltd is a ;oint %enture o A9ON, Re"igare

and 6ennett, Co"eman Com&an). A9ON in one o the $or"ds "eading "ie insurance and

&ension grou&s. Re"igare is a &rominent &"a)er in the ie"d o integrated inancia" ser%ices in

India. On the other hand, 6ennett1 Co"eman Com&an) is IndiaBs "argest media house. The

-G

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18/97

insurance com&an) began its o&eration in >u") 800. ithin a short s&an o time, it has s&read

across India, b) o&ening o%er =0 branches in the countr).

A9ON Re"igare Lie Insurance oers mu"titude o beneits to its customers. It oers

&o"ic) ser%icing on the &hone %ia Interacti%e ?oice Res&onse 2)stem *I?R+. This is done b)

issuing the customer a T17in or authentication. It boasts o being the irst insurance com&an) in

India to inc"ude the customerBs medica" re&ort in the &o"ic) #it. Ta"#ing about the indi%idua"

sta#e ho"ders, A9ON ser%es o%er 0 mi""ion customers in as man) as 80 mar#ets s&read

throughout the Americas, Asia and 9uro&e. Head3uartered in The Hague, the Nether"ands,

A9ON carries out ma;or o&erations in the United 2tates, the Nether"ands and the United

4ingdom. Re"igare 9nter&rises Ltd is a signiicant &"a)er in the ie"d o Retai", Institutiona" and

ea"th s&ectrums. It has a di%erse and $ide base o c"iente"e. R9L ho"ds e3uit) in A9ON

Re"igare Lie Insurance Co Ltd. Ta"#ing about 6ennett, Co"eman Co. Ltd. it is a mammoth in

the ie"d o media, since it is associated $ith the Times rou&, Indias "argest media house. The

>oint ?enture o the three giants *o their res&ecti%e ie"ds+ has gi%en rise to A9ON Re"igare

Lie Insurance.

8. Future enera"i Lie Insurance5

Future enera"i India Lie Insurance Co. Ltd. is one o the ra&id") gro$ing Insurance

com&anies in India. The Com&an) is a ;oint %enture bet$een the India1based Future rou& and

the Ita")1based enera"i rou&. Future enera"i grou& is &resent in both the Lie and Non1Lie

businesses in India as Future enera"i India Lie Insurance Co. Ltd. and Future enera"i India

Insurance Co. Ltd.

Future rou& is one o IndiaBs "eading business houses $ith mu"ti&"e businesses s&anning

across the countr). Retai" is the main business acti%it) o Future rou&, but its &resence can a"so

be seen in consumer inance, ca&ita", insurance, "eisure and entertainment, brand de%e"o&ment,

retai" rea" estate de%e"o&ment, retai" media and "ogistics. Future rou& be"ie%es in de%e"o&ing

strong insights on Indian consumers and bui"ding businesses based on Indian ideas.

enera"i rou& $as estab"ished in Trieste on December 8/, -=-. It is an internationa"

grou& $or#ing in more than 0 countries $ith insurance com&anies, inancia" com&anies and rea"

estate sectors. Ater doing business in Centra" 9astern 9uro&e, enera"i rou& has started to

-


19/97

de%e"o& business in the &rinci&a" mar#ets o the Far 9ast, inc"uding China and India. enera"i

rou& ran#s among the to& three insurance grou&s in 9uro&e and the =0th "argest com&an) in the

Fortune 00 internationa" ran#ing.

=. 26I Lie Insurance5

26I Lie Insurance oers a s"e$ o &roducts designed or %arious segments o societ).

These inc"ude mone) bac# &roducts, &ension &roducts, &rotection cum sa%ings &roducts, and unit

"in#ed &roducts. A"" these &roducts cater to %arious re3uirements o its end users

. 6a;a; A""ian' Lie Insurance5

6a;a; A""ian' Lie Insurance Co. Ltd. is a ;oint %enture bet$een A""ian' 29, one o the

$or"ds "argest insurance com&anies, and 6a;a; Finser%. A""ian' 29 is a "eading insurance

cor&oration g"oba"") and one o the "argest asset managers in the $or"d, that manage assets $orth

o%er a Tri""ion. ith o%er -- )ears o inancia" e(&erience, A""ian' 29 is &resent in o%er G0

countries around the $or"d. 6a;a; A""ian' is into both "ie insurance and genera" insurance.

Toda), 6a;a; A""ian' is one o Indias "eading and astest gro$ing insurance com&anies.

Current"), it has &resence in more than 0 "ocations $ith o%er /0,000 Insurance Consu"tants.

In >une 800, 6a;a; A""ian' entered into &artnershi& $ith Thomas Coo# India to &ro%ide

tra%e" inance. 6a;a; A""ian' Lie Insurance ensures e(ce""ent insurance and in%estment so"utions

b) oering customi'ed &roducts, su&&orted b) the best techno"og). Mar#et share o the com&an)

in 800 is /..

. 6harti A(a Lie Insurance5

6harti A@A Lie Insurance Co. Ltd. is a ;oint %enture bet$een 6harti 1 one o IndiaBs

"eading business grou&s $ith interests in te"ecom, agri business and retai", and A@A 1 g"oba"

"eader in inancia" &rotection and $ea"th management. 6harti has recent") entered into the retai"

business under a com&an) ca""ed 6harti Retai" 7%t. Ltd. A@As o&erations are di%erse

geogra&hica""), $ith ma;or o&erations in estern 9uro&e, North America and the Asia7aciic

area. It a"so has o&erations in Austra"ia, Ne$ Pea"and, Hong 4ong, 2inga&ore, Indonesia,

7hi"i&&ines, Thai"and, and China

6harti A@A Lie Insurance has a G sta#e rom 6harti and 8/ sta#e o A@A in

the ;oint %enture. In December 800/, the Com&an) "aunched its o&erations in India. At &resent, it

has more than 800 em&"o)ees $or#ing o%er -8 states in the countr). ith the continuous

-

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20/97

e(&ansion, 6harti A@A Lie Insurance is ma#ing itse" &roacti%e to cater to insurance and $ea"th

management needs o &eo&"e.

/. 6ir"a 2un1Lie Insurance5

6ir"a 2un Lie Insurance Co. Ltd. is a ;oint %enture bet$een Adit)a 6ir"a rou&, an

Indian mu"tinationa" cor&oration, and 2un Lie Financia" Inc, a "eading g"oba" insurance

com&an). 6ir"a 2un Lie Insurance is distinguished as the irst com&an) in the sector o inancia"

so"utions to begin 6usiness Continuit) 7"an. This insurance com&an) has &ioneered the uni3ue

Unit Lin#ed Lie Insurance 2o"utions in India. ithin )ears o its "aunch, 62LI became one o

the "eading &"a)ers in the industr) o 7ri%ate Lie Insurance 2cheme. Mar#et share o the

com&an) in 800 is 8.--. 6ir"a 2un Lie Insurance be"ie%es in &assion, integrit), s&eed,

commitment and seam"essness. The mission o the com&an) is to he"& &eo&"e $ith ris#

management. It a"so he"&s in managing the inancia" situation o irms as $e"" as indi%idua"s.

G. HDFC 2tandard Lie Insurance5

9stab"ished on -th August 8000, HDFC 2tandard Lie Insurance Co. Ltd. is a ;oint

%enture bet$een Housing De%e"o&ment Finance Cor&oration Limited *HDFC Limited+ 1 Indias

"eading housing inance institution, and a rou& Com&an) o the 2tandard Lie 7"c, U4. The

Com&an) is one o "eading &ri%ate insurance com&anies, oering a range o indi%idua" and grou&

insurance so"utions, in India. 6eing a ;oint %enture o to& inancia" ser%ices grou&s, HDFC

2tandard Lie has ade3uate inancia" e(&ertise to manage "ong1term in%estments sae") and

resourceu"").

HDFC 2tandard Lie Insurance oers a range o indi%idua" and grou& so"utions, $hich

can be easi") &ersona"i'ed to s&eciic needs. Its grou& so"utions ha%e been &"anned to oer

com&"ete "e(ibi"it), together $ith a "o$ charging structure. As o =- December, 800, the

Com&an)s ne$ business &remium income stood at Rs.-,=.G0 Crores it has co%ered o%er

-8,-- "i%es so ar. Mar#et share o the com&an) in 800 is 8..

. IFFCO1To#io enera" Insurance

Initiated in December , 8000, IFFCO1To#io enera" Insurance *ITI+ Com&an) is a

coo&erati%e underta#ing b) the Indian Farmers Ferti"i'er Co1o&erati%e *IFFCO+ and its associate

80

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21/97

and To#io Marine and Nichido Fire rou& *the "argest "isted insurance grou& in >a&an+, to dea" in

the insurance sector o India. ith a $ide net$or# o - 2trategic 6usiness Units and --0

oices a"" o%er India, the com&an) ser%es its customers and &otentia" customers, $ith an arra) o

uni3ue") customi'ed &o"icies. It co%ers each stratum o the societ), right rom armers to Indias

"argest automobi"e manuacturers.

hi"e ITI gets its technica" su&&ort or under$riting and reinsurance rom To#io

Marine, the ris# management is sourced rom To#io Ris# Consu"ting *TRC+. A&art rom dea"ing

$ith the con%entiona" insurance schemes, the com&an) has a"so come u& $ith niche &roducts

"i#e credit insurance, ine arts insurance, 7 I insurance, errors omissions &o"ic) or the IT

2ector and so on. ITI has a"so centered its acti%ities #ee&ing into mind the rura" segment. It has

commenced %arious &roducts such as 2an#at Haran 6ima :o;ana, Mausam 6ima :o;ana, Mahi"a

2ura#sha 6ima :o;ana and >anata 6ima :o;ana or the masses. ITI is a"so credited $ith being

the irst com&an) to under$rite mega &o"icies or a erti"i'er and an automobi"e com&an).

. A%i%a Lie Insurance5

A%i%a Lie Insurance Com&an) India Ltd estab"ished in the )ear 800. It is a &ri%ate

insurance com&an), ormed b) a ;oint %enture bet$een the A%i%a insurance grou& o U4 and the

Dabur grou& o India. In reerence to the go%ernment regu"ations, A%i%a ho"ds 8/ &ercent sta#e

and the Dabur grou& ho"ds the ba"ance G &ercent share in the ;oint %enture. Not on") "argest in

the U4, A%i%a is a"so #no$n as the ith "argest insurance grou& in the $or"d. 2ince -=, A%i%a

is ensuring the "i%es o Indians. At the time o nationa"i'ation, A%i%a $as the "argest oreign

insurer in India in terms o the com&ensation &aid b) the o%ernment o India.

A%i%a is distinguished or being the irst oreign insurance com&an) to set u& its

re&resentati%e oice in India, in -. A%i%a Lie Insurance Com&an) estab"ished the conce&t o

6ancassurance in India, and has "e%eraged its g"oba" e(&ertise in 6ancassurance successu"")

here. The com&an) boasts o 88= branches in India, su&&orting its %ast distribution net$or#.

A%i%a oers %arious &roducts that are meant to &ro%ide customers "e(ibi"it), trans&arenc) and

%a"ue or the mone).

-0. Agricu"ture Insurance Com&an) o India5

8-

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22/97

Agricu"ture Insurance Com&an) o India Limited *AIC+ is an Insurance com&an) ormed

in order to ser%e the needs o armers and other &eo&"e in%o"%ed in agricu"ture. It a"so aims to

ma#e rura" India ste& or$ard to$ards a sustainab"e actuaria" management. AIC $as

incor&orated a"ong $ith enera" 6udget o the F.:. 800810=. AIC has no$ ta#en o%er Nationa"

Agricu"tura" Insurance 2cheme and a"so aims to transact other insurance businesses direct") or

indirect") re"ated $ith agricu"ture or agricu"tura" aided acti%ities in uture.

4ranches an& 4usiness

AIC is a &ub"ic underta#ing catering to the needs o 80 mi""ion armers throughout the

countr). It current") &ro%ides an area and $eather based cro& insurance &rograms to a"most 00

districts o India. AIC has -G regiona" oices throughout the countr) $ith their head3uarters

"ocated at Ne$ De"hi. The Agricu"ture Insurance Com&an) o India Limited aims to accentuate

the economic gro$th rate o the countr) b) bringing inancia" stabi"it) in the rura" &art o the

countr). It is a"so entit"ed to &ro%ide inno%ati%e rura" oriented and armer riend") &o"icies in

order to ensure &rotection rom natura" &eri"s and ris#s in agricu"ture re"ated business.

--. IN ?)s)a Lie Insurance5

9stab"ished in India in 2e&tember 800-, IN ?)s)a Lie Insurance Com&an) Limited is a

;oint %enture bet$een ?)s)a 6an#, $hich is one o the "argest &ri%ate sector ban#s in India, and

IN Insurance Co., $hich is the $or"ds second "argest "ie insurance com&an). This &ri%ate "ie

insurance com&an) has around -0 branches a"" o%er India, $ith head oice in 6anga"ore.

IN ?)s)a Lie Insurance Co. has around =000 em&"o)ees $ith o%er 8-,000 sa"es

insurance agents and bro#ers. IN ?)s)a Lie &resent") has around . "a#h customers, and is

ma#ing a tota" income o Rs. 00 crore.

IN ?)s)a Lie Insurance gi%es )ou an o&&ortunit) to u"i"" )our res&onsibi"ities

to$ards )our ami"). The IN ?)s)a Lie &rotection &"ans &ro%ide inancia" securit) to )our

ami") in )our absence. This com&an) a"so &ro%ides s&ecia" &o"icies, such as, Chi"drens 7"ans

Retirement 7"ans In%estment 7"ans and 2a%ings 7"ans, $hich he"& )ou to secure )our uture

inancia""). It a"so &ro%ides Lie Insurance, Medica" Insurance, enera" Insurance, Long1Term

Care Insurance, rou& Insurance, Com&an) Insurance and Financia" 2er%ices Insurance

7roducts.

88


23/97

-8. TATA AI Lie Insurance5

Tata AI Lie Insurance Com&an) Limited, $hich is a ;oint %enture bet$een Tata rou&

and American Internationa" rou&, Inc. *AI+, oers a number o standard and custom1made "ie

insurance &o"icies. Tata is one o the o"dest and "eading business grou&s o India. Tata rou& has

had a "ong association $ith Indias insurance sector being the "argest insurance com&an) in India

&rior to the nationa"isation. American Internationa" rou&, Inc *AI+ is the "eading U.2. based

internationa" insurance and inancia" ser%ices organi'ation.

-=. Met Lie Insurance5

MetLie India Insurance Co. 7%t. Ltd is a ;oint %enture bet$een MetLie rou& and its

Indian &artners, inc"uding >4 6an#, Dhana"a#shmi 6an#, 4arnata#a 6an#, 4ar%) Consu"tants,

eo;it 2ecurities, a)8ea"th, and Mini Muthoothu. MetLie is insuring the "i%es o the &eo&"e

or around -0 )ears. MetLie is o the to& one1hundred FORTUN9 00 com&anies. MetLie

entered Indian insurance sector in 800-.

MetLie $as the irst insurance com&an) $hich estab"ished a inancia" ho"ding com&an)

$ith a nationa"") chartered ban#. In 800, or#ing Mother Maga'ine honored MetLie Insurance

Co. as one o the Q-00 6est Com&anies or or#ing MothersQ. In 800, the com&an) $as "isted

among the To& 0 Com&anies or Di%ersit). In 800/, MetLie $as named to the Nationa"

Association or Fema"e 9(ecuti%es annua" "ist o To& =0 Com&anies or 9(ecuti%e omen.

Toda), $hen &eo&"e are ee"ing a greater inancia" burden than e%er beore, MetLie is he"&ing

mi""ions o its customers in creating their o$n &ersona" saet) net b) ta#ing insurance &"ans.

-. 2ahara India Lie Insurance Com&an) Limited5

The 2ahara 7ari$ar, &o&u"ar") #no$n as the $or"ds "argest ami") $ith di%ersiied

business interests, is a recent entrant in the ie"d o "ie insurance. Its insurance com&an) 1 2ahara

India Lie Insurance Com&an) Ltd. $as granted "icense b) the insurance regu"ator 1 the IRDA,

on / Februar) 800. ith this a&&ro%a", 2ahara Lie Insurance becomes the irst $ho"") Indian1

o$ned com&an) in the Indian "ie insurance mar#et $ithout an) co""aboration $ith the

organi'ations abroad. The &aid u& ca&ita" o the insurance com&an) at the time o its

commencement $as Rs -G Crore. The Chairman o 2ahara 7ari$ar, 2ubrata Ro) 2ahara, is a"so

8=

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24/97

the chair&erson o 2ahara Lie Insurance Com&an) Limited.

The insurance &"ans oered b) 2ahara India Lie Insurance Com&an) Limited are uni3ue

in their o$n terms. The com&an) oers both indi%idua" and grou& insurance &roducts. Through

the dierent insurance &"ans, the com&an) aims to cater to the dierent needs o the Indian

societ). For instance, the 2ahara >an 4a")an grou& scheme is ormu"ated to address the "ie

insurance needs o the inancia"") $ea#er sections o the Indian &o&u"ation. One o the

high"ighting &oints o the scheme is accident beneit. A&art rom the $or#ing and the de&endent

&o&u"ation, the insurance &"ans ormu"ated b) 2ahara India Lie Insurance Com&an) Limited are

beneicia" or the retired &eo&"e as $e"". The &ension &"ans o the com&an) *such as 2ahara Amar

>ee%an+ he"& the &o"ic) ho"der to "i%e a ri%o"ous and re"a(ed "ie ater retirement. As &er the

&"an, the &erson ho"ding the &o"ic) is sub;ected to do monetar) sa%ings in "itt"e amounts &er

month. Ta"#ing about the indi%idua" &"ans, 2ahara 2ancha) 1 R scheme and 2ahara 2amarth are

a"so beneicia" in man) $a)s.

-. 4ota# Mahindra O"d Mutua" Lie Insurance5

Founded in 800-, 4ota# Mahindra O"d Mutua" Lie Insurance Ltd. is a ;oint %enture

bet$een 4ota# Mahindra 6an# Ltd. *4M6L+, and O"d Mutua" &"c. 4ota# Mahindra is one o

Indias "eading inancia" institutions $hich oer a range o inancia" ser%ices, such as,

commercia" ban#ing, stoc# bro#ing, mutua" unds, "ie insurance, and in%estment ban#ing. And,

O"d Mutua" is an internationa" insurance and in%estment management com&an) based in London,

oering a di%erse range o inancia" ser%ices in 2outh Arica, the United 2tates and the United

4ingdom since more than -0 )ears.

4ota# Mahindra O"d Mutua" Lie Insurance Ltd. is a com&an) $hich oers Lie

Insurance &roducts. It is one o Indias most ra&id") gro$ing insurance com&anies, em&"o)ing

o%er -000 &eo&"e, across %arious oices in India.

-/. Lie Insurance Cor&oration o India5

The "ife Insurance Corporation of In&ia *LIC+ *Hindi5 भरतय जवन बम नगम + is the

"argest state1o$ned "ie insurance com&an) in India, and a"so the countr)s "argest in%estor. It is

u"") o$ned b) the o%ernment o India. It a"so unds c"ose to 8./ o the Indian o%ernments

e(&enses. It has assets estimated o .=- tri""ion *U2808.0= bi""ion+. It $as ounded in -/.

8

http://en.wikipedia.org/wiki/Hindi_languagehttp://en.wikipedia.org/wiki/Life_insurancehttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/United_States_dollarhttp://en.wikipedia.org/wiki/Hindi_languagehttp://en.wikipedia.org/wiki/Life_insurancehttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/United_States_dollar


25/97

Head3uartered in Mumbai, inancia" and commercia" ca&ita" o India the Lie Insurance

Cor&oration o India current") has 'ona" Oices and -0- di%isiona" oices "ocated in dierent

&arts o India, at "east 80 branches "ocated in dierent cities and to$ns o India a"ong $ith

sate""ite Oices attached to about some 0 6ranches, and has a net$or# o around -.8 mi""ion

agents or so"iciting "ie insurance business rom the &ub"ic.

The Cor&oration, $hich started its business $ith around =00 oices, ./ mi""ion &o"icies

and a cor&us o INR mi""ion *U2 8 mi""ion as &er the - e(change rate o rough") Rs.

or a U2 , has gro$n to 8000 ser%icing around -0 mi""ion &o"icies and a cor&us o o%er

tri""ion *U2-G=./ bi""ion.

Lie Insurance Cor&oration o India *LIC+ is a o%ernment o India enter&rise, and is saidto be the "argest "ie insurance com&an) and a"so the "argest in%estor o the countr). LIC had

been estab"ished on the -st o 2e&tember, -/, ater the Lie Insurance Cor&oration Act had

been &assed b) the 7ar"iament o India in the same )ear. The cor&oration is aimed at &ro%iding

"ie insurance ser%ices &rimari") to the rura" masses and the socia"") economica"") bac#$ard

sections o the Indian societ). It a"so aims at &romoting the &eo&"e or sa%ing their mone), and

oers attracti%e sa%ings eatures a"ong $ith %arious insurance &o"icies.

5ital Details'

The head3uarters o Lie Insurance Cor&oration o India are "ocated in Mumbai, and as o

A&ri" 800 it has 'ona" oices, -0- di%isiona" oices and 80 branches "ocated in dierent

to$ns and cities o India. A"ong $ith a $or#orce o --8,- em&"o)ees ser%ing the institution,

more than - Mi""ion agents o the Lie Insurance Cor&oration o India are he"&ing the &eo&"e

nation$ide in ado&ting the %arious "ie insurance &o"icies being oered b) the cor&oration. A&art

rom India, LIC is a"so &resent in -8 other countries current"), u"i""ing the "ie insurance needs

o its o%erseas customers most o $hich are Non Resident Indians *NRIs+.

During the inancia" )ear 800/10G, the tota" number o Lie Insurance Cor&oration

o India &o"ic) ho"ders $ere more than 800 Mi""ion, $hich $as e3ua" to the &o&u"ation o ourth

"argest &o&u"ous countr) in the $or"d at that time.

8

http://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/United_States_dollarhttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/United_States_dollar


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27/97

Toda), it is amongst IndiaBs most amous commercia" ban#s $hich &ro%ide a $ide range o

inno%ati%e &roducts and ser%ices. ID6I 6an# has around 0 branches and more than /00 ATMs

a"" o%er India. ID6I is a a"so a &art o de%e"o&ment acti%ities, as it has been instrumenta" in

s&onsoring the de%e"o&ment o #e) institutions in%o"%ed in IndiaBs inancia" sector, such as, the

2ecurities and 9(change 6oard o India *296I+, Nationa" 2toc# 9(change o India Limited

*N29+ and Nationa" 2ecurities De&ositor) Ltd *N2DL+.

-. Ma( Ne$ :or# Lie Insurance5

Ma( Ne$ :or# Lie Insurance Com&an) Limited is a ;oint %enture bet$een Ma( India

Limited, $hich is a one o Indias "eading mu"ti1business cor&orate, and Ne$ :or# Lie

Internationa", $hich is a Fortune -00 com&an) g"oba" e(&ert in "ie insurance. Ma( Ne$ :or#

Lie Insurance started its commercia" o&erations in India in 800-. It is the irst "ie insurance

com&an) in India to be a$arded the I20 00-58000 certiication. The com&an) has around -==

oices a"" o%er the countr).

Ma( Ne$ :or# Lie oers a %ariet) o "e(ib"e &roducts co%ering both "ie and hea"th insurance

inc"uding riders that can be customi'ed to o%er 00 combinations $hich enab"e the customers

to choose the &o"ic) that suits their needs. Ma( Ne$ :or# Lie a"so oers / &roducts and G riders

in grou& insurance business. The com&an) has a &"an or e%er) need, designed as to meet )our

"ong term inancia" goa"s as&irations. The) he"& )ou u"i""ing )our dreams commitments.

Mar#et share is G.=. in 800.

80. United India Insurance5

United India Insurance Com&an) Limited is a "eader in the business o enera"

Insurance in India. It came into being on - Februar) -=. Ho$e%er, the enera" Insurance

business $as nationa"i'ed in the countr) in -G8, the United India Insurance $as then merged

$ith -8 Indian Insurance Com&anies, Coo&erati%e Insurance 2ocieties, Indian o&erations o

Foreign Insurers, and the enera" Insurance o&erations o southern region o Lie Insurance

Cor&oration o India. The com&an) has &rogressed tremendous") since nationa"i'ation and toda)

stands as one o the most trust$orth) name in the Insurance sector.

8G

http://business.mapsofindia.com/insurance/max-life-insurance-india.htmlhttp://www.iloveindia.com/finance/insurance/companies/united-india-insurance.htmlhttp://business.mapsofindia.com/insurance/max-life-insurance-india.htmlhttp://www.iloveindia.com/finance/insurance/companies/united-india-insurance.html


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C6PANYPR!I"#

%istory of 4harti A7A "ife Insurance

4harti A7A "ife Insurance is a ;oint %enture bet$een 6harti, one o IndiaBs "eading business

grou&s $ith interests in te"ecom, agri1business and retai", and A@A, $or"d "eader in inancia"

&rotection and $ea"th management. The ;oint %enture com&an) has a G sta#e rom 6harti and

8/sta#e o [email protected] com&an) "aunched nationa" o&erations in December 800/. Toda),com&an) ha%e o%er 000 em&"o)ees across o%er -8 states in the countr) and a nationa" oot&rint

o distributors trained to &ro%ide 3ua"it) inancia" ad%ice and insurance so"utions to the "arge

Indian customer base. O&en irst branch oice in H)derabad. Introduces 8 unit "in#ed &roducts1


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4o"#ata

Chennai

Ahmedabad

Ludhiana

Luc#no$

2urat 4ochi

Indoor

Chandigarh

?adodra

6hubnesh$ar

>ai&ur

Moha"i

u$ahati

?isionTo be a "eader and the &reerred com&an) or inancia" &rotection and $ea"th management in

India

8

7roessiona"ism

Team 2&irit Inno%ation

?a"ues

Integrit)7ragmatism


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Strategy

To achie%e a to& mar#et &osition in India through a mu"ti1distribution, mu"ti1&roduct

&"atorm

To ada&t A@As best &ractice b"ue&rints as a sound &"atorm or &roitab"e gro$th

To "e%erage 6hartis "oca" #no$"edge, inrastructure and customer base

To de"i%er high "e%e"s o shareho"der return

To bui"d "ong term %a"ue $ith our business &artners b) enhancing the &ro&osition to their

customers

To be the em&"o)er o choice to attract and retain the best ta"ent in India

To be recogni'ed as being c"ose and 3ua"iied b) our customers

4harti 9roup

4harti Airtel "t&

6harti Airte" Ltd is one o Asias "eading te"ecommunications ser%ice &ro%iders. The Com&an) is

IndiaBs "argest integrated te"ecom com&an) in terms o customer base and oers Mobi"e

=0

http://www.airtel.in/http://www.airtel.in/


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2er%ices, Fi(ed Line ser%ices, 6roadband I7T?, DTH, Long Distance and 9nter&rise ser%ices.

Airte" a"so oers mobi"e ser%ices in 2ri Lan#a on a state1o1the art =. net$or#.

6harti Te"eTech Ltd

6harti Te"etech is IndiaBs "eading te"ecom a""ied 7roducts Com&an). It is one o the "argest

manuacturers o "and"ine te"e&hones in the $or"d. ith a strong distribution net$or# across the

countr), the com&an) is a"so the &rimar) distributor o IT and Te"ecom &roducts rom

internationa" brands such as Motoro"a, 6"ac#berr), Thomson, 7o")com, Transcend, and

Logitech.

Te"ecom 2e)che""es Ltd

A subsidiar) o 6harti, Te"ecom 2e)che""es Ltd &ro%ides com&rehensi%e te"ecom ser%ices

inc"uding = mobi"e ser%ices in 2e)che""es, under the Airte"B brand.

=-

http://www.bharti-teletech.net/http://www.airtel.sc/http://www.bharti-teletech.net/http://www.airtel.sc/


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Com%i%a Techno"ogies Ltd

Com%i%a is the "eading &ro%ider o integrated ?A2 so"utions or mobi"e o&erators in emerging

mar#ets. Among the to& = g"oba" &ro%iders o integrated ?A2 so"utions in ra&id") gro$ing

mar#ets, Com%i%a has de&"o)ed so"utions or o%er -00 mobi"e o&erator customers in o%er 0

countries $or"d$ide.

Fie"dFresh Foods 7%t. Ltd.

Fie"dFresh Foods 7%t. Ltd., is a %enture bet$een 6harti 9nter&rises and De" Monte 7aciic

Limited, to oer resh and &rocessed ruits and %egetab"es in the domestic as $e"" as

internationa" mar#ets, inc"uding 9uro&e and the Midd"e 9ast.

6harti Retai" 7%t Ltd

6harti Retai" is a $ho"") o$ned subsidiar) o 6harti 9nter&rises. 6harti Retai" o&erates a chain

o mu"ti&"e ormat stores that oer consumers aordab"e &rices, great 3ua"it) and $ider choice.

The com&an)Bs neighbourhood ormat stores o&erate under the Q9as)da)Q brand and the com&act

h)&ermar#et ormat under the


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6harti A@A enera" Insurance Com&an)

6harti A@A enera" Insurance is a ;oint %enture bet$een 6harti 9nter&rises and A@A, $or"d

"eader in inancia" &rotection and $ea"th management. The com&an) $as incor&orated in >u")

800G and oers a u"" suite o genera" insurance so"utions to meet the needs o businesses and

indi%idua"s a"i#e.

6harti A@A Lie Insurance Com&an)

6harti A@A Lie Insurance Com&an) Ltd is a ;oint %enture bet$een 6harti 9nter&rises and A@A,

$or"d "eader in inancia" &rotection and $ea"th management. The com&an) oers a range o "ie

insurance and $ea"th management &roducts $ith an endea%our to he"& customers "ead a

conident "ie.

==

http://www.bharti-axagi.co.in/http://www.bharti.com/http://www.bharti-axagi.co.in/http://www.bharti.com/


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6harti A@A In%estment Managers 7%t. Ltd.

6harti A@A In%estment Managers 7%t. Ltd., an asset management com&an) in India, is a ;oint

%enture bet$een 6harti 9nter&rises, A@A In%estment Managers *A@A IM+ and A@A Asia

7aciic Ho"dings *A@A A7H+.

Centum Learning Limited

Centum Learning Limited &ro%ides end1to1end "earning and s#i""1bui"ding so"utions to se%era"

"arge cor&orate. It &ro%ides so"utions that im&act business &erormance through enhanced

em&"o)ee &roducti%it), customer &roitabi"it) and eecti%e ta"ent transormation.

>erse) Airte" Ltd

>erse) Airte", a subsidiar) o 6harti, oers $or"d1c"ass mobi"e ser%ices in >erse) *Channe"

Is"ands+ o%er its u"" 8, = and H2D7A enhanced net$or#. The Com&an) brings mar#et1

"eading &roducts and ser%ices to its customers under Airte"1?odaone brand.

=

http://www.bhartiaxa-im.com/http://www.bhartiresources.com/http://www.bharti.com/http://www.bhartiaxa-im.com/http://www.bhartiresources.com/http://www.bharti.com/


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6harti Foundation

6harti Foundation $as set u& in 8000, $ith the %ision,


36/97

6harti Inrate"

6harti Inrate", a $ho"") o$ned subsidiar) o 6harti Airte", &ro%ides &assi%e inrastructure

ser%ices on a non1discriminator) basis to a"" te"ecom o&erators in India. 6harti Inrate" a"so ho"ds

a&&ro(imate") 8 sta#e in Indus To$ers, a ;oint %enture bet$een 6harti, ?odaone and Idea to

oer &assi%e inrastructure ser%ices.

4harti #nterprises

4harti Airtel "t&'

6harti Airte" Ltd is IndiaBs "eading &ro%ider o te"ecommunications ser%ice. The com&an) has

distinct 6usiness di%isions1 mobi"e and te"e&hone ser%ices, broadband ser%ices, "ong distance

ser%ices and enter&rise ser%ices,

4harti Teletech "t&

6harti Te"etech Ltd manuactures and e(&orts $or"d1c"ass te"ecom e3ui&ment under the brand

6eete"B.

Telecom Seychelles "t&

Te"ecom 2e)che""es "td &ro%ides te"ecom ser%ices in 2e)che""es, under the brand Airte"B.

4harti A7A "ife Insurance

6harti A@A Lie Insurance is a ;oint %enture bet$een 6harti, one o IndiaBs "eading business

grou&s $ith interests in te"ecom, agri business and retai", and A@A, $or"d "eader in inancia"

&rotection and $ea"th management. The ;oint %enture com&an) has a G sta#e rom 6harti and

8/sta#e o A@A.

4harti Telesoft "t&

=/

https://www.bharti-infratel.com/https://www.bharti-infratel.com/


37/97

6harti Te"esot Ltd de"i%ers best1in1c"ass,

Re%enue1critica" ?as &roducts and ser%ice to te"ecom carriers,

Tele Tech Ser)ice "t&

Te"e Tech 2er%ice *India+ Ltd is >oint %enture $ith Te"e Tech Inc., U.2.A. It oers a range o

Customer Management 2er%ices.

!iel& !resh !oo&s P)t "t&

Fie"d Fresh Foods 7%t Ltd is 6hartiBs ?enture $ith 9L Rothschi"d rou& o$ned 9LRO ho"ding

India Ltd., to e(&ort resh Agricu"tura" &roducts e(c"usi%e") to mar#ets in 9uro&e and U2A.

A7A

A@A rou& is a $or"d$ide "eader in Financia" 7rotection. A@As o&erations are di%erse

geogra&hica""), $ith ma;or o&erations in estern 9uro&e, North America and the Asia7aciic

area. A@A had 9uro -,=- bi""ion in assets under management as o December =-, 800/. For u""

)ear 800/, IFR2 re%enues amounted to 9uro G bi""ion, IFR2 under")ing earnings amounted to

9uro ,0-0 mi""ion and IFR2 ad;usted earnings to 9uro ,-0 mi""ion.

The A@A ordinar) share is "isted and trades under the s)mbo" A@A on the 7aris 2toc# 9(change.

The A@A American De&ositor) 2hare is a"so "isted on the N:29 under the tic#er s)mbo" A@A.

A7A Asia Pacific %ol&ings

A@A Asia 7aciic Ho"dings Ltd *A@A A7H+ is "isted on the Austra"ian stoc# e(change and is

8.= o$ned b) A@A 2A. A@A A7H is res&onsib"e or A@A 2ABs "ie insurance and $ea"th

management businesses in the Asia17aciic region. It has o&erations in Austra"ia, Ne$ Pea"and,

=G


38/97

Hong 4ong, 2inga&ore, Indonesia, 7hi"i&&ines, Thai"and, China, India and Ma"a)sia. A@A A7H

had A-0/. bi""ion in tota" unds under management and administration at =0 >une 800G and

re&orted a &roit ater ta( beore non1recurring items o A=G.0 mi""ion or the si( months

ended =0 >une 800G.

Pro&ucts of 4harti8A7A "ife Insurance

4right stars

This is a regu"ar &remium unit1"in#ed insurance &o"ic), $hich, $hich oers )ou the t$in

beneits o &rotecting )our "o%ed ones and creating $ea"th or them o%er the desired &eriod.

As a caring &arent, )ou $ant on") the best or )our chi"d. As )our chi"d gro$s, his as&irations

$i"" gro$ too and so $i"" )our res&onsibi"ities. hether itBs higher studies abroad, a grand

$edding or a comortab"e home S )ou can no$ ensure that )our chi"d is a"$a)s one ste&

ahead

:ou can u"i"" a"" the dreams )ou ha%e or )our chi"d, and gi%e him $hat he deser%es. A bright

uture

The &"an a"so oers the "e(ibi"it) to ma#e modiications, de&ending on the changing needs o

)our chi"d. As his dreams gro$, the &"an $i"" gro$ tooS so inancia" hurd"es $i"" ne%er come

in the $a) o his gro$ing dreams ith 6harti A@A Lie 6right 2tars,

=


39/97

Spot

Sura0sha

Intro&uction

2&ot 2ura#sha is a unit "i#ed insurance &roduct, $hich oers )ou an instant insurance &rotection

and beneit o $ea"th creation in the "ong1term.

6ain A&)antages of Spot Sura0sha

Understand the &roduct5*Read and understand the &roduct brochure+

Ans$ering the sim&"e hea"th re"ated 3uestions, 2ign u& the sim&"e a&&"ication orm, submit

&hotogra&h, &roos or identit), address and age.

A co%er note is issued to &o"ic) ho"der and insurance co%er starts instant").

-00 a""ocation o &remium1 Fu"" a""ocation o &remium to the In%estment Fund, according to

&o"ic) ho"der choice rom 8nd )ear on$ards.

A guaranteed s&ecia" addition e3ua" to -=0 o annua"i'ed &remium in the irst &o"ic) )ear is

added in the &o"ic) und at maturit) or death, $hich is ear"ier.

PARA6#T#R #"I9I4I"ITY

=

Parameter #ligibility

6inimum age at entry *: years

6a3imum age at entry ;< years minus policy benefit perio& chosen+

#+9' for policy benefit perio& of *; years= the

ma3imum age at entry is /- years+

6a3imum age at maturity ;< years

6inimum premium Rs+*/=


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6inimum age at entry / years

6a3imum age at entry // years

6a3imum age at maturity ;< years

6inimum premium Rs+ *,=ust ta#e a moment and thin#.

The 6harti A@A Lie Dream "ie &ension gi%es )ou5

A &ost retirement income or "ie.

7o"ic) ho"der choose the age at $hich heshe $ou"d "i#e to retire *%esting age+, $hich

determines )our &remium &a)ing term. A"ternati%e") )ou can o&t or sing"e &remium

&a)ment.

PARA6#T#R #"I9I4I"ITY

6inimum age at entry *: years

6a3imum age at entry ;< years

6inimum age at )esting

6a3imum age at )esting

./ years

:< years

Premium mo&es Single pay= yearly= %alf8yearly =?uarterly

an& monthly

0


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6inimum premium Annual Regular Premium'

Rs+*,=


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Premium payable perio& Yearly= %alf8Yearly An& 6onthly

6inimum premium Rs+*


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Premium payable perio&

Yearly= %alf8Yearly= 1uarterly an&

6onthly

6inimum premium

Rs+*


44/97

TH9OR9TICAL FRAM9 OR4

Recruitment

Once the re3uired number and #ind o human resources are determined, the

management has to ind the &"aces $here re3uired human resources are$i"" be a%ai"ab"e and a"so

ind the means o attracting them to$ards the organisation beore se"ecting suitab"e candidates

or ;obs. A"" this &rocess is genera"") #no$n as recruitment. 2ome &eo&"e use the term

recruitment or em&"o)ment. These t$o are not one and the same. Recruitment is on") one o the

ste&s in the entire em&"o)ment &rocess. 2ome others use the term recruitment and se"ection.

These t$o terms are not one and the same either. Technica"") s&ea#ing the unction o

recruitment &recedes the se"ection unction and it inc"udes on") inding , de%e"o&ing the sources

o &ros&ecti%e em&"o)ees and attracting them to a&&") or ;obs in an organi'ation, $hereas the

se"ection is the &rocess o inding out the most suitab"e candidate to the ;ob out o the candidates

attracted *i.e.,recruited+. Forma" deinition o recruitment $ou"d gi%e c"ear cut idea about the

unction o recruitment.

Meaning o Recruitment

According to 9d$in 6. F"i&&o,


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46/97

. 6egin identi)ing and &re&aring &otentia" ;ob a&&"icants $ho $i"" be a&&ro&riate candidates.

-0. Increase organi'ation and indi%idua" eecti%eness o %arious recruiting techni3ues and

sources or a"" t)&es o ;ob a&&"icants

Recruitment strategies

The recruitment strategies ormu"ated b) the com&anies inc"ude5

-. In sourcing or Outsourcing

Com&anies recruit the candidates, em&"o) them, train and de%e"o& them and uti"i'e the

human resources o these com&anies. This strateg) is ca""ed In1sourcing. 2ome organi'ations

em&"o) and de%e"o& the candidates $ith a %ie$ to &ro%ide the human resources to other

com&anies $hich concentrate on manuacturing, ser%icing and such other acti%ities

8. ?ast and Fast 2ource5

The ast de%e"o&ing IT industr) and high techno"og) oriented industr) in%ariab") re3uire

%ast human resources $ithin the short s&an o time. The best strateg) to get %ast human resources

immediate") is Internet.

Factors Aecting Recruitment

The recruitment unction o the organisations is aected and go%erned b) a mi( o

%arious interna" and e(terna" orces. The interna" orces or actors are the actors that can be

contro""ed b) the organisation. And the e(terna" actor s are those actors $hich cannot be

contro""ed b) the organisation. The internal and external forces affecting recruitment unction

o an organisation are sho$n be"o$.

!ACTRS A!!#CTIN9 R#CRUIT6#NT

/

http://recruitment.naukrihub.com/recruitment-vs-selection.htmlhttp://recruitment.naukrihub.com/recruitment-vs-selection.htmlhttp://recruitment.naukrihub.com/http://recruitment.naukrihub.com/external-factors.htmlhttp://recruitment.naukrihub.com/external-factors.htmlhttp://recruitment.naukrihub.com/recruitment-vs-selection.htmlhttp://recruitment.naukrihub.com/http://recruitment.naukrihub.com/external-factors.html


47/97

The external factors which affecting recruitment are the orces $hich cannot be contro""ed b)

the organisation. The ma;or e(terna" orces are5

-. 2u&&") and Demand5

The a%ai"abi"it) o man&o$er both $ithin and outside the organi'ation is an im&ortant

determinant in the recruitment &rocess. I the com&an) has a demand or more &roessiona"s and

there is "imited su&&") in the mar#et or the &roessiona"s demanded b) the com&an), then the

com&an) $i"" ha%e to de&end u&on interna" sources b) &ro%iding them s&ecia" training and

de%e"o&ment &rograms.

8. Labor Mar#et5

9m&"o)ment conditions in the communit) $here the organi'ation is "ocated $i""

in"uence the recruiting eorts o the organi'ation. I there is sur&"us o man&o$er at the time o

recruitment, e%en inorma" attem&ts at the time o recruiting "i#e notice boards dis&"a) o the

re3uisition or announcement in the meeting etc $i"" attract more than enough a&&"icants.

=. Image ood$i""5

Image o the em&"o)er can $or# as a &otentia" constraint or recruitment. An organi'ation

$ith &ositi%e image and good$i"" as an em&"o)er inds it easier to attract and retain em&"o)ees

than an organi'ation $ith negati%e image. Image o a com&an) is based on $hat organi'ation

does and aected b) industr). For e(am&"e inance $as ta#en u& b) resher M6ABs $hen man)

inance com&anies $ere coming u&.

G

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. 7o"itica"12ocia"19n%ironment5

?arious go%ernment regu"ations &rohibiting discrimination in hiring and em&"o)ment

ha%e direct im&act on recruitment &ractices. For e(am&"e, o%ernment o India has introduced

"egis"ation or reser%ation in em&"o)ment or schedu"ed castes, schedu"ed tribes, &h)sica"")

handica&&ed etc. A"so, trade unions &"a) im&ortant ro"e in recruitment. This restricts

management reedom to se"ect those indi%idua"s $ho it be"ie%es $ou"d be the best &erormers. I

the candidate canBt meet criteria sti&u"ated b) the union but union regu"ations can restrict

recruitment sources.

. 9m&"o)ment Rate5

One o the actors that in"uence the a%ai"abi"it) o a&&"icants is the gro$th o the

econom) *$hether econom) is gro$ing or not and its rate+. hen the com&an) is not creating

ne$ ;obs, there is oten o%ersu&&") o 3ua"iied "abour $hich in turn "eads to unem&"o)ment.

/. Com&etitors5

The recruitment &o"icies o the com&etitors a"so eect the recruitment unction o the

organisations. To ace the com&etition, man) a times the organisations ha%e to change their

recruitment &o"icies according to the &o"icies being o""o$ed b) the com&etitors.

The internal factors or forces which affecting recruitment and can be contro""ed b) the

organisation are

-. Recruitment 7o"ic)5

The recruitment &o"ic) o an organisation s&eciies the ob;ecti%es o recruitment and

&ro%ides a rame$or# or im&"ementation o recruitment &rogramme. It ma) in%o"%e

organi'ationa" s)stem to be de%e"o&ed or im&"ementing recruitment &rogrammes and &rocedures

b) i""ing u& %acancies $ith best 3ua"iied &eo&"e.

Factors eecting recruitment &o"ic)

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o%ernment &o"icies on reser%ations.

7reerred sources o recruitment.

Need o the organi'ation.

Recruitment costs and inancia" im&"ications.

8. Human Resource &"an5

9ecti%e human resource &"anning he"&s in determining the ga&s &resent in the e(isting

man&o$er o the organi'ation. It a"so he"&s in determining the number o em&"o)ees to be

recruited and $hat 3ua"iication the) must &ossess.

=. 2i'e o the irm5

The si'e o the irm is an im&ortant actor in recruitment &rocess. I the organi'ation is

&"anning to increase its o&erations and e(&and its business, it $i"" thin# o hiring more &ersonne",

$hich $i"" hand"e its o&erations.

. Cost5

Recruitment incur cost to the em&"o)er, thereore, organi'ations tr) to em&"o) that source

o recruitment $hich $i"" bear a "o$er cost o recruitment to the organi'ation or each candidate.

. ro$th and 9(&ansion5

Organi'ation $i"" em&"o) or thin# o em&"o)ing more &ersonne" i it is e(&anding itBs

o&erations.

2ources o Recruitment

9%er) organisation has the o&tion o choosing the candidates or its recruitment

processes rom t$o #inds o sources5 interna" and e(terna" sources. The sources $ithin the

organisation itse" *"i#e transer o em&"o)ees rom one de&artment to other, &romotions+ to i"" a

&osition are #no$n as the interna" sources of recruitment . Recruitment candidates rom a"" the

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other sources *"i#e outsourcing agencies etc.+ are #no$n as the e(terna" sources o the

recruitment.

SURC#S ! R#CRUIT6#NT

-. Transers5

The em&"o)ees are transerred rom one de&artment to another according to their

eicienc) and e(&erience.

,+ 7romotions5

The em&"o)ees are &romoted rom one de&artment to another $ith more beneits and

greater res&onsibi"it) based on eicienc) and e(&erience.

=. U&grading and Demotion5

Others are U&grading and Demotion o &resent em&"o)ees according to their

&erormance.

. Retired and retrenched em&"o)ees'

Retired and Retrenched em&"o)ees ma) a"so be recruited once again in case o shortage

o 3ua"iied &ersonne" or increase in "oad o $or#. Recruitment such &eo&"e sa%e time and costs

o the organisations as the &eo&"e are a"read) a$are o the organisationa" cu"ture and the &o"icies

and &rocedures.

. De&endents and Re"ati%es o diseased em&"o)ees5

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The de&endents and re"ati%es o Deceased em&"o)ees and Disab"ed em&"o)ees are a"so

done b) man) com&anies so that the members o the ami") do not become de&endent on the

merc) o others.

#3ternal sources

-. 7ress ad%ertisements'

Ad%ertisements o the %acanc) in ne$s&a&ers and ;ourna"s are a $ide") used source o

recruitment. The main ad%antage o this method is that it has a $ide reach.

8. 9ducationa" Institutes5

?arious management institutes, engineering co""eges, medica" Co""eges etc. are a good source o

recruiting $e"" 3ua"iied e(ecuti%es, engineers, medica" sta etc. The) &ro%ide aci"ities or

cam&us inter%ie$s and &"acements. This source is #no$n as Cam&us Recruitment.

=. 7"acement Agencies5

2e%era" &ri%ate consu"tanc) irms &erorm recruitment unctions on beha" o c"ient

com&anies b) charging a ee. These agencies are &articu"ar") suitab"e or recruitment o

e(ecuti%es and s&ecia"ists. It is a"so #no$n as R7O *Recruitment 7rocess Outsourcing+.

. 9m&"o)ment 9(changes5

o%ernment estab"ishes &ub"ic em&"o)ment e(changes throughout the countr). These

e(changes &ro%ide ;ob inormation to ;ob see#ers and he"& em&"o)ers in identi)ing suitab"e

candidates.

. Labour contractors5

Manua" $or#ers can be recruited through contractors $ho maintain c"ose contacts $ith

the sources o such $or#ers. This source is used to recruit "abour or construction ;obs.

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/. Unso"icited A&&"ications5

Man) ;ob see#ers %isit the oice o $e""1#no$n com&anies on their o$n. 2uch ca""ers are

considered nuisance to the dai") $or# routine o the enter&rise. 6ut can he"& in creating the ta"ent

&oo" or the database o the &robab"e candidates or the organisation.

G. 9m&"o)ee reerra"s Recommendations5

Man) organisations ha%e structured s)stem $here the current em&"o)ees o the

organisation can reer their riends and re"ati%es or some &osition in their organisation. A"so, the

oice bearers o trade unions are oten a$are o the suitabi"it) o candidates. Recruitment

Management can in3uire these "eaders or suitab"e ;obs. In some organi'ations these are orma"

agreements to gi%e &riorit) in recruitment to the candidates recommended b) the trade union.

. Recruitment at actor) gate5

Uns#i""ed $or#ers ma) be recruited at the actor) gate these ma) be em&"o)ed $hene%er

a &ermanent $or#er is absent. More eicient among these ma) be recruited to i"" &ermanent

%acancies.

Recruitment techni3ues

Recruitment techni3ues are the means or media b) $hich management contracts

&ros&ecti%e em&"o)ees or &ro%ides necessar) inormation or e(changes ideas or stimu"ates them

to a&&") or ;obs. Management uses dierent t)&es o techni3ues to stimu"ate interna" and

e(terna" candidates.

-. 7romotions

8. Transers

=. 7resent em&"o)ees

8

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. 2couting

. Ad%ertising

-. 7romotions5

Most o the interna" candidates $ou"d be stimu"ated to ta#e u& higher res&onsibi"ities and

e(&ress their $i""ingness to be engaged in the higher "e%e" ;obs i management gi%es them the

assurance that the) $i"" be &romoted to the ne(t higher "e%e".

8. Transers5

9m&"o)ees $i"" be stimu"ated to $or# in the ne$ sections or &"aces i management

$ishes to transer them to the &"aces o their choice.

=. Recommendations o the &resent em&"o)ees5

Management can contact, &ersuade the outsiders to a&&") or ;ob in the organisation

through the recommendations to the candidates b) the &resent em&"o)ees, trade union "eaders

etc.

. 2couting 5

2couting means sending the re&resentation o the organi'ations to %arious sources o

recruitment $ith a %ie$ to &ersuading or stimu"ating the candidates to a&&") or ;obs. The

re&resentati%es &ro%ide inormation about the com&an) and e(change inormation and ideas

and c"ari) the doubts o the candidates

. Ad%ertising 5

Ad%ertising is $ide") acce&ted techni3ues o recruitment, through it most") &ro%ides one

$a) communication. It &ro%ides the candidate in dierent sources, the inormation about the ;ob

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and com&an) and stimu"ates them to a&&") or ;obs. It inc"udes ad%ertising through dierent

media "i#e ne$s&a&ers, maga'ines o a"" #inds, radio, te"e%ision etc.

/. 92O7s5

Com&anies recent") started stimu"ating the em&"o)ees b) oering stoc# o$nershi& to the

em&"o)ees through their 9m&"o)ees 2toc# O$nershi& 7rograms *92O7s+.

Modern Techni3ues

A number o modern recruitment sources and techni3ues are being used b) the cor&orate

sector in addition to traditiona" sources and techni3ues. These sources and techni3ues inc"ude

$a"# in and consu"t in, head1hunting, bod) Vsho&&ing, business a""iances, and te"e1recruitment.

-. a"#1In5

The bus) organisations and the ra&id changing com&anies do not ind time to &erorm

%arious unctions o recruitment. Thereore, the) ad%ise the &otentia" candidates to attend or an

inter%ie$ direct") and $ithout a &rior a&&"ication on a s&eciied date, time and at a s&eciied

&"ace. The suitab"e candidates rom among the inter%ie$s $i"" be se"ected or a&&ointment ater

screening the candidates through tests and inter%ie$.

8. Consu"t1In5

The bus) and d)namic com&anies encourage the &otentia" ;ob see#ers to a&&roach them

&ersona"") and consu"t them regarding the ;obs. The com&anies se"ect the suitab"e candidates

through the se"ection &rocess.

=. Head1hunting5


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The com&anies re3uest the &roessiona" organi'ations to search or the best candidates or

the senior e(ecuti%e &ositions. The &roessiona" organisatins search or the most suitab"e

candidates and ad%ise the com&an) regarding the i""ing u& o the &ositions. Head1hunters are

a"so ca""ed search consu"tants.

. 6od) sho&&ing5

7roessiona" organi'ations and the hi1tech training institutes de%e"o& the &oo" o human

resources or the &ossib"e em&"o)ment. The &ros&ecti%e em&"o)ers contact these organi'ations to

recruit the candidates. Other$ise, the organi'ations themse"%es a&&roach the &ros&ecti%e

em&"o)ees to &"ace their human resources. These &roessiona" and training institutions are ca""ed

bod) sho&&ers and these acti%ities are #no$n as bod) sho&&ing. The bod) sho&&ing is used

most") or com&uter &roessiona"s.

. 6usiness a""iances5

6usiness a""iances "i#e ac3uisitions mergers and ta#eo%ers he"& in getting humanresources. In addition, the com&anies do a"so ha%e a""iances in sharing their human resources on

ad1hoc basis.

It does mean that, the com&an) $ith sur&"us human resources oers the ser%ices o their

em&"o)ees to other need) organi'ations.

/. Te"e1Recruitment

The techno"ogica" re%o"ution in te"ecommunication he"&ed the organi'ations the use

internet as a source o recruitment. Organi'ations ad%ertise the ;ob %acancies through the or"d

ide eb *$$$+ internet. The ;ob see#ers send their a&&"ications through e1mai" or internet.

A"ternati%e"), ;ob see#ers &"ace their C?s in the or"d ide eb, $hich can be dra$n b) the

&ros&ecti%e em&"o)ers de&ending u&on their re3uirements.


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2e"ection

9m&"o)ee 2e"ection is the &rocess o &utting right men on right ;ob. It is a &rocedure o

matching organi'ationa" re3uirements $ith the s#i""s and 3ua"iications o &eo&"e. 9ecti%e

se"ection can be done on") $hen there is eecti%e matching. 6) se"ecting best candidate or the

re3uired ;ob, the organi'ation $i"" get 3ua"it) &erormance o em&"o)ees. Moreo%er, organi'ation

$i"" ace "ess o absenteeism and em&"o)ee turno%er &rob"ems. 6) se"ecting right candidate or

the re3uired ;ob, organi'ation $i"" a"so sa%e time and mone). 7ro&er screening o candidates

ta#es &"ace during se"ection &rocedure. A"" the &otentia" candidates $ho a&&") or the gi%en ;ob

are tested.

6ut se"ection must be dierentiated rom recruitment, though these are t$o &hases o

em&"o)ment &rocess. Recruitment is considered to be a &ositi%e &rocess as it moti%ates more o

candidates to a&&") or the ;ob. It creates a &oo" o a&&"icants. It is ;ust sourcing o data. hi"e

se"ection is a negati%e &rocess as the ina&&ro&riate candidates are re;ected here

madahava behara

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