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

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 Date: 13/08/2012

Name: Prachi Narute Roll No.: Pg c 153

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 Date: 13/08/2012

Name: Prachi Narute Roll No.: pg c - 153

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 conduct behavioural 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 top talent 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.

SR NO 1 1.1 1.2 1.3 1.4 2 2.1 3 3.1.1 3.1.2 3.1.3 3.1.4 3.1.5 3.1.6 3.1.7

CONTENTS Introduction Company profile Definition and purpose of the project Scope and objective of the project Salient contribution of the project Review of literature Theoretical framework, background history Research Methodology Research design Data Collection Source Data Collection Method Data Collection Instrument(Questionnaire) Sampling plan Sampling Data analysis technique

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SR NO 3.2 3.3 4 4.1 5 5.1 6 7 7.1 7.2

CONTENT Classification of data Processing and Analysis of Data Result and Interpretation Details about the outcome and interpretation of result Conclusion Salient conclusion from the work Limitation of the project Recommendation Guidelines for implementation based on conclusion 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 of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC), India's leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom. HDFC Ltd. holds 72.37% and Standard Life (Mauritius Holding) Ltd. holds 26.00% of equity in the joint venture, while the rest is held by others. HDFC Life's product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, Investment and Health. Customers have the added advantage 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 with 10 optional rider benefits catering to the savings, investment, protection and retirement needs 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.The company has also established a liaison office in Dubai. HDFC Life has a strong presence in its 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 the most trusted company, the easiest to deal with, offer the best value for money, and set the standards in the industry'. 'The most obvious choice for all'.

Our Values
Values that we observe while we work:

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

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. Being the first private player to be registered with the IRDA and the first to issue a policy on December 12, 2000, our differentiators are

AWARDS AND RECOGNITIONS

BestPrax Benchmark 2012 Award

HDFC Life received the BestPrax Benchmark Award 2012 for Leadership Governance in the Service category. BestPrax Benchmark is an annual award that recognizes organizations that have best managerial practices. HDFC Life has been adjudged the winner by an eminent panel for Scenario Planning, Assessment of Integrated Reality & risk (AIRr) and Vision & Values Communication- GOAL.
Best Product Innovation Award at Indian Insurance Award2012

Received the Best Product Innovation Award for its product - SampoornSamriddhi.The company has received Award for the second consecutive year. This award seeks to honour a life insurer that has launched an innovative product that has set the benchmark in terms of fulfilling an un-met customer need in the domain. The product innovation, besides being an industry first, should have been well-received by the target audience. The jury, through this award 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 Financial Leadership Awards 2012. Bloomberg UTV Financial Leadership Awards have been instituted 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 Model Insurer 2012, for the use of Enterprise Wide Learning via the Internet by Celent USA. HDFC Life 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. These awards recognize Customer loyalty efforts of Companies across various sectors. The Theme of this year's Summit was 'Driving Loyalty through Customer Experience Management'

Century International Quality ERA Award

Received the award in Gold Category. Century International Quality ERA is based on Excellence in Leadership and Business Management, Quality and Excellence, Business and Brandname 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 financial services sector. These Awards were decided by an eminent Jury comprising senior professionals. 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 Business Leaders. It recognizes and rewards their ability to steer their businesses through turbulent times, 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 by Economic 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 'Banking Financial & 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.

HR ORGANISATION STRUCTURE AT HDFC LIFE INSURANCE ( REGIONAL OFFICE )

ASSOCIATE VICE PRESIDENT HUMAN RESOURCES

HUMAN RESOURCE MANAGER

REGIONAL HUMANRESOURCES (VASHI)

REGIONAL HUMAN RESOURCES (DADAR)

REGIONAL HUMAN RESOURCES (ANDHERI)

1.2 OBJECTIVE OF THE PROJECT

To focus on the major element of recruitment process To understand the internal process recruitment and selection process at HDFC Life Insurance To understand the areas where there can be scope for improvement To give suitable recommendation to streamline the hiring process

1.3 SCOPE OF THE PROJECT

This project will help hdfc life insurance. This project try to give some outline about changing aspect of recruitment and selection process and some strategies organization should adapted to overcome attrition successfully.

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

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 General Insurance 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 from new 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.

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.

2.3 MEANING OF RECRUITMENT

Recruitment is the process of searching the candidates for employment and stimulating them to apply for jobs in the organisation. Recruitment is the activity that links the employers and the job seekers. A few definitions of recruitment are: A process of finding and attracting capable applicants for employment. The process begins when new recruits are sought and ends when their applications are submitted. The result is a pool of applications from which new employees are selected. It is the process to discover sources of manpower to meet the requirement of staffing schedule and to employ effective measures for attracting that manpower in adequate numbers to facilitate effective selection of an efficient working force. Recruitment of candidates is the function preceding the selection, which helps create a pool of prospective employees for the organisation so that the management can select the right candidate for the right job from this pool. The main objective of the recruitment process is to expedite the selection process. Recruitment is a continuous process whereby the firm attempts to develop a pool of qualified applicants for the future human resources needs even though specific vacancies do not exist. Usually, the recruitment process starts when a manger initiates an employee requisition for a specific vacancy or an anticipated vacancy.

PURPOSE AND IMPORTANCE OF RECRUITMENT

Attract and encourage more and more candidates to apply in the organisation. Create a talent pool of candidates to enable the selection of best candidates for the organisation. Determine present and future requirements of the organization in conjunction with its personnel planning and job analysis activities. Recruitment is the process which links the employers with the employees. Increase the pool of job candidates at minimum cost. Help increase the success rate of selection process by decreasing number of visibly under qualified or overqualified job applicants.

 Help reduce the probability that job applicants once recruited and selected will leave the organization only after a short period of time. Meet the organizations legal and social obligations regarding the composition of its workforce. Begin identifying and preparing potential job applicants who will be appropriate candidates. Increase organization and individual effectiveness of various recruiting techniques and sources for all types of job applicants

Importance of selection
Employee Selection is the process of putting right men on right job. It is a procedure of matching organizational requirements with the skills and qualifications of people. Effective selection can be done only when there is effective matching. By selecting best candidate for the required job, the organization will get quality performance of employees. Moreover, organization will face less of absenteeism and employee turnover problems. By selecting right candidate for the required job, organization will also save time and money. Proper screening of candidates takes place during selection procedure. All the potential candidates who apply for the given job are tested. But selection must be differentiated from recruitment, though these are two phases of employment process. Recruitment is considered to be a positive process as it motivates more of candidates to apply for the job. It creates a pool of applicants. It is just sourcing of data. While selection is a negative process as the inappropriate candidates are rejected here. Recruitment precedes selection in staffing process. Selection involves choosing the best candidate with best abilities, skills and knowledge for the required job.

2.4 RECRUITMENT PROCESS AT HDFC LIFE INSURANCE

FILLING THE VACANCY

FINDING THE RIGHT SOURCE

HDFC APTITUDE TEST (HAT)

INTERVIEW ROUND

OFFER LETTER PROCESSING

JOINING FORMALITIES

INDUCTION

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. 2. 3. 4. 5. Employee referral policy (PARICHAY) Job portals Campus recruitment Consultancy Walk ins

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 their social 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 short listed through this job portals . HDFC create an job description on the this portals based on vacancy to be filled.. Candidate are suppose to mail there resume in the link which is specified in the job description.

3)CAMPUS RECRUITMENT
Campus recruitmentare the good source of hiring the candidate.Campus Recruitmnet is done where by candidates fromvarious colleges of Mumbai were short listed by HDFC for the designation of Sales Development Managers.most preference where given to young freshers for this designation.

4) PLACEMENT AGENCY
Hdfcgives more preference to consultancy for hiring employees.HDFC has tie up with more than 35 consultancy for sourcing the candidate.ofdiferrent designations like sales development managers, sales development nanager-corporate agency, corporate agency manager, senior corporate agency managers,hdfc gets minimum 15 candidates from each consultancy. The rate which the consultancy charge there commission is 8.33% of the ctcof the employee plus 12.36 % service tax. The consultancy charge there commission after one week of joining of the employee.

5) WALK INS
A walk-in interview occurs when an individual can interview for a job position without having a pre-scheduled appointment. In some cases, attending a job fair may qualify for this type of interview HDFC has its 3 hr region i.eVashi, Dadar, Andheri..Each region conduct various walk in drives for various designation. Its the responsibility of the particular regionalhr to conduct the 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. Candidate is 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 of interview.

1ST ROUND INTERVIEW

This process is very important as it gives the first hand information of the candidate, The 1st 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.

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 reporting relationship, 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 email id of the hr department

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 entire details 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 to meet 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.

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.

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 it proceeds, 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 SOURCESThe data required for the study has been collected from-

QUESTIONNAIRE survey among the officials employees.

PERSONAL INTERVIEWS with regarding Recruitment and Selection.

the

company

employees

SECONDARY SOURCESThe secondary data has been collected from: Internet, websites Business magazines Books

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.

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

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

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

20 YES 80 NO

Q2. Does the Job Responsibilities and Job Description are clearly defined to the candidates appearing for selection process ? a. Yes b. No

30 YES 70 NO

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

30 NO 70 YES

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

17 YES 83 NO

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

3 33 6 3 30

KNOWLEDGE DISCIPLINE PAST EXPERIENCE 23 OPTIMISTIC NATURE TEAM WORK OTHERS

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

Q6. Do you think organization is using satisfactory methods of interview? a. Yes b. No

17 YES 83 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

10 10 GOOD AVERAGE 80 POOR

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.

8) Do you think there hr need to improve the interview process a) yes b) no

20 YES 80 NO

80% of the employees says that their should be a improvement in the interview process, interview as well as joining schedule should be properly planed by the HR department

9) How do you find the behaviour of the regional hr at the time of recruitment process a. good b. average c. poor

23

33

good average

44

poor

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 counsuling round should be given more importance by the HR department.

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.

5. CONCLUSION

Recruitment and selection is a day to day process is carried out in hdfc life insurance as there is high amount of attrition in this industry It is a great responsibility 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 selecting talent 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 has been misplace of lot of documents due to which the joining of the candidate is delayed

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

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

Candidate do proper observation o the HR department behaviour.

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

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

LIMITATION

As every project has its own limitations , the limitation to my research were as follows

Project was limited only to do research with middle level managers,since high attrition is also due to the pressure of the line managers proper interaction with the line managers was not possible.

Most of the candidate were relectent to give proper feedback against the hr department

As time was the constraint proper interview was not possible with the sales development managers as they very busy with their training process

Reasons for the pressure from the line managers were not able to find out due to their availability

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, HR should see to it that the respective manager is available at that point of time to carry out the second round of interview

A good impression should be created by the hr on the mind of the candidate As first impression is the last impression, if the candidate is rejected he should fill that he 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 documentation should not be misplaced by the hr department due to which there is an delay in the interview as well as joining process Competency based interview round should be made the regional hr, by which it would 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 given on employee motivation, exit interviews and more consulting should be given by the hr department

There should be more friendly environment should be created b the line managers with 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 motivate the newly joined candidates, especially fresher who do not have sales experience, by which attrition will reduced to some extend.

7.2 SCOPE FOR FUTURE WORK

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

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

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

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

If proper motivation is given to the employees at the time of induction by HR as well as by the 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 of hfdc life will reduce to a large extend

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/outlookforinsurance-sector2012_661546.html http://www.citehr.com/ Times of India (ascent)