A

SUMMER TRAINING REPORT

On

RECRUITMENT
AT BAJAJ ALLIANZ LIFE INSURANCE COMPANY

Submitted For the Partial Fulfillment towards the Award of the Degree in Master Administration of G.B. Technical Uni ersit!" #uc$now

Submitted to
Mr. Amit Gu t!
%OD MBA De&artment

Submitted By S"i#!$i Gu t!
MBA 'nd semester

(oll no )'*+,*-)-'

DR. OM PRAKASH GUPTA INSTITUTE OF MANAGEMENT & TECHNOLOGY,

FARRUKHABAD

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ACKNOWLEDGEMENT

At the outset" . wish to e/&ress m! sincere gratitude to Mr. 0handrase$har" 1onal Manager of %uman (esource De&artment" BA2A2 A##.A31 #.F4 .3SU(A304 0OMPA35 #uc$now" for gi ing me an o&&ortunit! to undergo summer internshi& at BA2A2 A##.A31 #.F4 .3SU(A304 0OMPA35. Mr. 0handrase$har6s constant encouragement and guidance was the $e! moti ating factor in doing and com&leting this &ro7ect. . would li$e to e/&ress m! &rofound a&&reciation to m! guides

Mr. Amit Gu t!

for hel&ing me com&lete m! research re&ort

successfull! in all res&ect. The! deser e a s&ecial than$s for their guidance and suggestions on sub7ect matter with" whom . e/&lored ideations" organi8ation re9uirements and de elo&ment of m! &ro7ect. Finall! m! than$s to all of the team members of BA2A2 A##.A31 #.F4 .3SU(A304 0OMPA35" #uc$ now" and m! famil! and friends who hel&ed me directl! or indirectl! in com&leting m! research &ro7ect.

PREFACE Peo&le are a com&an!6s most im&ortant assets. The! can ma$e or brea$ the fortunes of a business. .n toda!6s highl! com&etiti e business en ironment &lacing the right &eo&le in the right &osition is er! critical for the success of an! organi8ation. The recruitment and selection decision is of &rime im&ortance as it is the ehicle for obtaining the best &ossible &erson<to<7ob fit that will" contribute significantl! towards the 0om&an!=s effecti eness. .t is also becoming increasingl! im&ortant" as the 0om&an! e ol es and changes" that new recruits show a willingness to learn" ada&tabilit! and abilit! to wor$ as &art of a team. The (ecruitment > Selection &rocedure ensures that these criteria are addressed .n this &ro7ect . ha e studied (ecruitment and Selection &rocess of Ba7a7 Allian8 #ife .nsurance 0om&an! and attem&ted to &ro ide some wa!s so as to ma$e recruitment more effecti e and to reduce the cost of hiring an em&lo!ee. . am &ri ileged to be one of the students who got an o&&ortunit! to do m! training with Ba7a7 Allian8 #ife .nsurance 0om&an!. M! in ol ement in the &ro7ect has been er! challenging and has &ro ided me a &latform to le erage m! &otential in the most constructi e wa!. Ba7a7 Allian8 #ife .nsurance 0om&an! is one of .ndia=s leading financial institutions offering com&lete financial solutions that encom&ass e er! s&here of life. .n a short s&an of time" BA#.0 has set an e/am&le b! ha ing a stead! and confident 7ourne! to growth an

CONTE%T
S.N O 1 2 % & ) . ( 2 1' 11 12 1% 1& 1) 1. 1( List of Table and Graphs Exec ti!e S ""ar# Introd ction of the Ins rance Ind str# Co"pan# Profile Co"pan# *ac+,ro nd /inancial 0eport Prod ct 0an,e Pro1ect Profile 0ecr it"ent3Process 4 5ethod6 5ethodolo,# Anal#sis S7OT Anal#sis /indin, Concl sion 0eco""endation 4 S ,,estion 8 estionnaire 4 Anal#sis of s r!e# *iblio,raph# 1 2$% &$1' 11$2( 2-$%& %)$%&&$&. &($&&2$))2$.. .($(( (-$-2 -'$-2 -%$-& -)$--2$2) 1'' TOPIC PAGE NO

LIST OF TABLES AN& GRAP'

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TOPIC Prod ct 0an,e Table *a1a1 Allian9 :istrib tion Net;or+ Internal Gradin, Str ct re /lo; Chart Generic O!er!ie; Chart /actor Affectin, 0ecr it"ent Pie Chart Anal#sis P#ra"id Location Chart Ind str# Pie chart Or,ani9ation Pie chart Experience <isto,ra" CTC <isto,ra" List of selected candidates $ $ $ $ $ $ $ $ $ $ $ $ $ $

PAGE NO %.$%2 &2 &% &. )' )2 )($).1 .% .& .) .( .()

E%ECUTI(E SUMMARY
.n toda!6s ra&idl! changing business en ironment" organi8ations ha e to res&ond 9uic$l! to re9uirements for &eo&le. The Financial mar$et has been witnessing growth which is manifold for last few !ears. Man! &ri ate &la!ers ha e entered the econom! thereb! increasing the le el of com&etition. .n the com&etiti e scenario it has become a challenge for each com&an! to ado&t &ractices that would hel& the organi8ation stand out in the mar$et. The com&etiti eness of a com&an! of an organi8ation is measured through the 9ualit! of &roducts and ser ices offered to customers that are uni9ue from others. Thus the best ser ices offered to the consumers are result of the genius brains wor$ing behind them. %uman (esource in this regard has become an im&ortant function in an! organi8ation. All &ractices of mar$eting and finances can be easil! emulated but the ca&abilit!" the s$ills and talent of a &erson cannot be emulated. %ence" it is im&ortant to ha e a well<defined recruitment &olic! in &lace" which can be e/ecuted effecti el! to get the best fits for the acant &ositions. Selecting the wrong candidate or re7ecting the right candidate could turn out to be costl! mista$es for the organi8ation. Therefore a recruitment &ractice in an organi8ation must be effecti e and efficient in attracting the best man&ower. 0o erage @The e/tent and limitation with largest number of life insurance &olicies in force in the world" insurance ha&&ens to be a mega o&&ortunit! in .ndia. .ts business is growing at )+<'-A annuall! and &resentl! is of the order of (s. ;+-m. Together with ban$ing sector it adds about *A to the GDP.

&!t! U)ed
There were mainl! two sources of data collection C C C C C C Primar! dataD Personal inter iew with candidates .n de&th con ersation with the &lacement agenc! Secondar! dataD Stud! of recruitment &olic! Eebsites

(esearch methodolog! used Stud! of recruitment and selection at Ba7a7 Allin8#ife .nsurance b! the manual &ro ided b! the %( de&artmentF Eeb sites 2ournals Boo$s Findings (ecruitment is done throughout the !ear more during the months of Ma!<2une and Oct<3o F %uge in estment of time %uge recruitment costF

Thus the whole research would be done under the guidance of e/ternal guide. .t will also in ol e recruitment and selection &rocesses" reading the material &ro ide internall! b! the organi8ation

I$trodu*tio$ o+ t"e I$)ur!$*e I$du)try

O#er#ie,
The stor! of insurance is &robabl! as old as the stor! of man$ind. The same instinct that &rom&ts modern businessmen toda! to secure themsel es against loss and disaster e/isted in &rimiti e men also. The! too sought to a ert the e il conse9uences of fire and flood and loss of life and were willing to ma$e some sort of sacrifice in order to achie e securit!. Though the conce&t of insurance is largel! a de elo&ment of the recent &ast" &articularl! after the industrial era @ &ast few centuries @ !et its beginnings date bac$ almost ?--- !ears. The first two decades of the twentieth centur! saw lot of growth in insurance business. From ;; com&anies with total business<in<force as (s.''.;; crore" it rose to )*? com&anies with total business<in<force as (s.',B crore in ),:B. The .nsurance Act ),:B was the first legislation go erning not onl! life insurance but also non<life insurance to &ro ide strict state control o er insurance business. Some of the im&ortant milestones in the life insurance business in .ndia areD

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)B)BD Oriental #ife .nsurance 0om&an!" the first life insurance com&an! on .ndian soil started functioning. )B*-D Bomba! Mutual #ife Assurance Societ!" the first .ndian life insurance com&an! started its business. ),)'D The .ndian #ife Assurance 0om&anies Act enacted as the first statute to regulate the life insurance business. ),'BD The .ndian .nsurance 0om&anies Act enacted to enable the go ernment to collect statistical information about both life and non<life insurance businesses. ),:BD 4arlier legislation consolidated and amended to b! the .nsurance Act with the ob7ecti e of &rotecting the interests of the insuring &ublic. ),+?D ';+ .ndian and foreign insurers and &ro ident societies are ta$en o er b! the central go ernment and nationali8ed. #.0 formed b! an Act of Parliament" i8. #.0 Act" ),+?" with a ca&ital contribution of (s. + crore from the Go ernment of .ndia. The General insurance business in .ndia" on the other hand" can trace its roots to the Triton .nsurance 0om&an! #td." the first general insurance com&an! established in the !ear )B+- in 0alcutta b! the British.

Pre)e$t S*e$!rio
The Go ernment of .ndia liberali8ed the insurance sector in March '--with the &assage of the .nsurance (egulator! and De elo&ment Authorit! G.(DAH Bill" lifting all entr! restrictions for &ri ate &la!ers and allowing

))

foreign &la!ers to enter the mar$et with some limits on direct foreign ownershi&. And dee&ening of insurance in .ndia and this ma! also include restructuring and re itali8ing of the &ublic sector com&anies. .n the The o&ening u& of the sector is li$el! to lead to greater s&read &ri ate sector ); life insurance and B general insurance com&anies ha e been registered. A host of &ri ate .nsurance com&anies o&erating in both life and non<life segments ha e started selling their insurance &olicies.. The #ife .nsurance mar$et in .ndia is an underde elo&ed mar$et that was onl! ta&&ed b! the state owned #.0 till the entr! of &ri ate insurers. The &enetration of life insurance &roducts was ), &ercent of the total ;-million of the insurable &o&ulation. The state owned #.0 sold insurance as a ta/ instrument" not as a &roduct gi ing &rotection.

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E#o-utio$ o+ I$)ur!$*e
.n the da!s of !ore insurance was in its crude form and was coo&erati e and oluntar! in nature. Ehen" where and how it originated is still a matter of research in one wa! or the other was &re alent in olden da!s. Ee can trace its histor! from the e olution societ! from hunting stage to the modern industrial age. A word I5AG0%%4MJ occurs in the world6s most ancient %indu Scri&ture (ig Keda. The word I5AG0%%4MJ means insurance. .t clearl! indicated that about four thousand !ears ago insurance was &re alent in its crude form. .t was coo&erati e and oluntar! in nature. Peo&le formed different grou&s of organi8ations to share the loss among themsel es incase of a &articular ris$. 4ach member contributed some amount to a common fund to meet the unforeseen losses. Sometimes the! also contributed e9uall! to com&ensate &erson as and when he suffered a loss. Traces of

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insurance in the ancient world are also found in the form of marino trade loans or carriers contracts which included an element of insurance. 4 idence is on records that arrangements embod!ing the idea of insurance were made in Bab!lonia and .ndia at 9uite an earl! &eriod. (eferences were made to the conce&t of insurance in Manu6s code IManu Smrit!J. .t was a$in to I5aga$shemoJ of (ig eda in which the well being and securit! of the communit! was aimed at. %owe er" there is no e idence that insurance in its &resent farm was &racticed &rior to twelfth centur!.

N!ture o+ I$)ur!$*e
The insurance has the following characteristics which are obser ed in cases of life" marine" fire and general insurance. .. Sharing of ris$sD .nsurance is a coo&erati e de ice to share the financial losses which might befall on an indi idual or his facilit! on the occurrence of s&ecified e ent such as sudden death of the bread winner" marine &erils in marine insurance" fire in the fire insurance and theft insurance etc. in the case of general insurance. /. 0oo&erati e de iceD A large number of &ersons agree to share the loss arising sue to a &articular ris$. Thus" insurance is a coo&erati e de ice.

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0. Kalue of ris$D The ris$ is e aluated before insuring to charge the amount of share called &remium. 1. Pa!ment made at contingenc!D The &a!ment is made at a certain contingenc! insured. The 0ontingenc! ma! be death" fire" marine &erils etc. 2. Amount of &a!mentD The amount of &a!ment de&ends u&on &olic! insured.

Fu$*tio$) o+ I$)ur!$*e
A3Prim!ry Fu$*tio$)4
)H .nsurance &ro ides certaint!D .nsurance &ro ides certaint! of &a!ments at the uncertaint! of losses. The element of uncertaint! is reduced b! better &lanning and administration. 'H .nsurance &ro ides &rotectionD The ris$ will occur or not" when will occur and how much loss will be there. There are uncertainties of ha&&ening of time and amount of losses. The main function of the insurance is to &ro ide &rotection against the losses. :H (is$ sharingD (is$ is uncertain and therefore" the loss arising from the ris$ is also uncertain. All business concern faces the &roblem of the ris$ and if the concern is big enough the handling of ris$ becomes a s&eciali8ed function. .nsurance" as a de ice is the outcome of the e/istence of arious ris$s in our da! to da! life. .t s&reads the whole losses o er a large number of &ersons who are e/&osed b! a &articular ris$.

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B3 Se*o$d!ry Fu$*tio$)4
)H Pre ention of lossD Pre ention is alwa!s better than cure. Pre ention is b! far the best solution to the &roblem of ris$. .t is more effecti e and chea&est method to a oid the unfortunate conse9uence. But sometimes &re ention is not alwa!s &ossible and 4ffecti e. 'H Pro ides ca&italD .t &ro ides the ca&ital to the societ!. For &lan de elo&ment of countr! there is a great need for huge amount of ca&ital. 3ow da!s" the insurance com&anies are rendering &ositi e hel& in the de elo&ment of trade" commerce and industr! of the countr!.

Im ro#e) e++i*ie$*yD Achie ement of goals" it im&ro es not onl! his

efficienc! of the masses is also ad anced. The insurance eliminates worries and miseries of losses as death and destruction of &ro&ert! care free &erson can de ote his energies for better. :H 4nsures the welfare of societ!D I.nsurance is a saga of ser ice and securit!J to thee societ!. Securit! of the life and &ro&ert! gi en b! insurance bring &eace of mind to the insured. The in estment in #.0 in welfare schemes li$e electricit!" housing" water su&&l!" agro industr! estates are able to sol e man! &roblems in .ndia. ;H %el&s in economic &rogressD .nsurance &ro ides an initiati e to wor$ hard for the betterment of the masses. #ife insurance in ol es the element of sa ing in estment through small sa ings. And which has been growing in recent !ears at an annual rate of about (s. ;-- crs. #ife insurance is not a mere
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business organi8ationF it has nobler welfare res&onsibilities in the de elo&ment of the eco

M!5or I$)ur!$*e P-!yer)

#icenses ha e been issued for the following com&anies
C C C .0.0. Prudential #ife .nsurance #imited .0.0. Prudential #ife .nsurance 0om&an! #imited %DF0 Standard #ife .nsurance 0om&an! #imited

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C C C C C C C C C C C

Birla Sun #ife .nsurance 0om&an! #imited TATA A.G #ife .nsurance 0om&an! #imited Ma/ 3ew 5or$ #ife .nsurance 0om&an! #imited SB. @ 0ardiff #ife .nsurance 0om&an! #imited .3G K!s!a #ife .nsurance 0om&an! #imited Ba7a7 Allian8 #ife .nsurance 0om&an! #imited Met#ife #ife .nsurance 0om&an! #imited A i a #ife .nsurance 0om&an! #imited AMP Sanmar #ife .nsurance 0om&an! #imited Sahara .ndia #ife .nsurance #imited Sri (am #ife .nsurance #imited

COMPANY6S PROFILE
BAJAJ ALLIANZ LIFE INSURANCE COMPANY

)B

INTRO&UCTION
Ba7a7 Allian8 #ife .nsurance 0om&an! is a 7oint enture between Allian8 S4 of German! and .ndia based Ba7a7 Auto #imited. BA#.0 came into being on )'th March '--). .t is characteri8ed b! global &resence with a local focus and is dri en b! customer Orientation to establish high earning &otential and financial strength. The 0om&an! recei ed .(DA G.nsurance (egulator! > De elo&ment Authorit!H 0ertificate of (egistration G(:H 3o. ))? on :rd August '--) to conduct #ife .nsurance Business in .ndia. Mr. (ahul Ba7a7 is the owner of the 0om&an!. And Mr. Lamesh Go!al is the 04O of the com&an!.

BAJAJ ALLIANZ TOP MANAGEMENT TEAM

Mr. Lamesh Go!al 0hief 4/ecuti e Officer Mr. Anil Lumar Singh A&&ointed Actuar! > %ead Product De elo&ment

),

Mr. 402 Augustine %ead Sales > Strategic .nitiati es Mr. G B #addha .n estment 0onsultant Mr. 3eera7 Lumar %ead < Alternate 0hannel > 1onal %ead Agenc! GEestH Mr. (a7esh Kishwanathan 0hief Financial Officer Mr. Sashi Lrishnan 0hief .n estments Officer Mr. K Phili& %ead @ O&erations > 0ustomer Ser ices Mr. A$sha! Mehrotra %ead @ Mar$eting Mr. A S 3ara!anan %ead @ Bancassurance > 3(. Business Mr. J!ydee C"!ure 'e!d 7 'um!$ Re)our*e) Mr. 2 L Bhagat %ead @ 0or&orate Business Mr. Manish Dwi edi %ead @Direct Mar$eting Mr. Samir Ba$shi 0om&an! Secretar! > %ead #egal 0om&liances Mr. K Sriram %ead @ .nternal Audit Mr. 5ogesh Gu&ta %ead @Business Procurement

BOAR& MEMBERS

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.. Mr. R!"u- B!5!5 < 0hairman of the 0om&an!" an %onours Graduate in 4conomics > #aw and MBA from %ar ard Business School. %e is a member of (a7!a Sabha and 0hairman of Ba7a7 Auto #td.

/. &r. 8er$er Zede-iu) < Director of the 0om&an!" has a doctorate #w and is a member on the Board of Management of Allian8 S4.

0. Mr. S!$5i# B!5!5 < Director of the 0om&an!" he is B4 from Pune Uni ersit! and MBA from %ar ard Business School &resentl! and is an 4/ecuti e Director @ %ead of Finance and 0ontrol of Ba7a7 Auto #td.

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1. Mr. 'ei$9 &o--ber: < Director of the 0om&an!" has a Uni ersit! Degree of #aw and is 4/ecuti e Kice President < Asia Pacific Di ision of Allian8 S4.

2.

Mr. R!$5it Gu t! < Director of the 0om&an!" is M.M4" AM.P4

> F.44and is Kice President @ .nsurance of Ba7a7 Auto #td.

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Mr. Cr!i: E--i) < Director of the 0om&an! is a Bachelor of

0ommerceand 0hartered Accountant. %e is &resentl! Director of Allian8 .nsurance Management Asia Pacific PT4 #td.

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;. Mr. Sur!5 L!- Me"t! < Director of the 0om&an!" has %onours in 4conomics and is e/<04O of 3abil Ban$.

<.

Mr. S!$5!y A)"er < Director of the 0om&an!" is 0hartered

Accountantand Graduate in #aw and is a Partner in MMs 0rawford Ba!le! > 0o" Mumbai.

,. Mr. S. '. ="!$ < Director of the 0om&an!" has a Masters Degree in 0ommerce and is the Former 0hairman and Managing Director of .DB..

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.>.

Mr. Manu Tandon < Director of the 0om&an!" is a 0hartered

Accountant and &resentl! Managing Director of Bec$ .ndia #td.

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NATIONAL NET8OR=
BA#.0 has a Pan .ndia &resence with NOO The %ead Office located at Pune NOO )'--P branches NOO + 1onal Offices located at Lol$ata" #uc$now" 3ew Delhi" Ahmedabad" Bangalore NOO 'B (egionalM state Offices NOO O er )-"--- Sales Managers NOO O er :"--"--- .nsurance 0onsultants NOO More than )*- Bancassurance &artners across countr! NOO Strong alternate channel with o er '--- Franchisees" o er '-cor&orate agents" more than *- bro$ers and o er )-- Direct Mar$eting Branches to be launched this !ear.

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CULTURE
B!5!5 A--i!$9 ,i-- be:
NOO Be a winning team. NOO %a e a &assion for e/cellence and hate bureaucrac!. NOO Be em&owered" ha e the confidence to ta$e decisions 9uic$l! and be accountable. NOO Be dri en to achie e results" to deli er. NOO Be &rofessional and sociall! committed. NOO Be o&en to ideas" sharing" trans&arent > trusting NOO Focus e er!thing we do on our customers. NOO Ma$e BA#.0 a Igreat &lace to wor$J. NOO %a e a sense of humor.

T"e B!5!5 A--i!$9 8!y

NOO .n est in &eo&le @ Pa! M de elo& M career &lanning NOO Dominate !our mar$et @ be decisi e M communicate clear goals NOO 3e er sit still @ change continuall! M re olutioni8e NOO Thin$ ser iceF ser iceF ser ice @ continuous im&ro ement NOO #earn and lead @ be &re&ared to listen NOO Tell the facts as the! are @ clear communication NOO Lill bureaucrac! @ boundar! less M ideas not management la!ers M .nformalit! M s&eed

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NOOManage the business li$e a corner sho& @ customer satisfaction M em&lo!ee satisfaction M cash flow

BALIC? S!-ie$t Fe!ture)

NOO Decentrali8ed o&erations to ensure faster and smoother customer Ser ice NOO 0ustomers recei e ser ice from an! BA#.0 office" irres&ecti e of their own location o Online o An! of the BA#.0 offices o Bill<2unction and Bill Des$ o 0redit cards or direct debit for Standard 0hartered customers N O4fficient s!stems" &rocess6 > s&eed of res&onse has ensured lowest number of com&laints from customers to .(DA NOO (enewal &remium &ossible throughD

(i)io$

To be the first choice insurer for customers To be the &referred em&lo!er for staff in the insurance industr!. To be the number one insurer for creating shareholder alue

Mi))io$
As a res&onsible" customer focused mar$et leader" we will stri e to

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understand the insurance needs of the consumers and translate it into affordable &roducts that deli er alue for mone!. . A Partnershi& Based on S!nerg! Ba7a7 Allian8 General .nsurance %ealth .nsurance

offers technical e/cellence in all areas of General and Ba7a7

as well as (is$ Management. This &artnershi& successfull! combines

Finser =s in<de&th understanding of the local mar$et and e/tensi e distribution networ$ with the global e/&erience and technical e/&ertise of the Allian8 Grou&. As a registered .ndian .nsurance 0om&an! and a ca&ital base of (s. ))- crores" the com&an! is full! licensed to underwrite all lines of general insurance business including health insuran

Our A*"ie#eme$t)
Ba7a7 Allian8 has recei ed QiAAA rating" from .0(A #imited" an associate of Mood!=s .n estors Ser ices" for 0laims Pa!ing Abilit!. This rating indicates highest claims &a!ing abilit! and a fundamentall! strong &osition. Ba7a7 Allian8 General .nsurance has recei ed the &restigious com&an! was one of the IBusiness #eader in General .nsuranceJ" awarded b! 3DTK Profit Business #eadershi& Awards '--B. The

'B

to& three finalists for the !ear '--* and '--B in the General .nsurance 0om&an! of the 5ear award b! Asia .

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B!5!5 A--i!$9 &i)tributio$ Net,or@

BA2A2 A##.A31 #.F4 .3SU(A304D Distribution 3etwor$

BAJAJ ALLIANZ LIFE INSURANCE : Distribution Network

Agency

Bancassurance

Alternate

Corporat e Divison

Direct Marketing

Area Offices

Standard Chartered Bank

Corporate Agents

Brokers

Branches

Branch Offices

Syndicate Bank

Franchises

Corporate Sales Associates Direct Business

BDMs

Over 2 lacs + Sales force

G Money

Brokers

!SOs

"r#an Co$op Banks Dist% Co$Op Bank &egional &ural Banks catering to 'ass ( rural 'arkets

:-

I$ter$!- Gr!di$: Stru*ture

GRA&E L2 &ESCRIPTION &e !rtme$t 'e!d)

L1 L0A L0 L0 B L/A L/ L/B L. A

&e !rtme$t 'e!d)ARe:io$!- 'e!d)A S!-e) 'e!d)

Fu$*tio$!- 'e!d)ASr. M!$!:er)

M!$!:er)ASu er#i)ory Ro-e)

L.

#) B

EBe*uti#e)ACu)tomer Su

ort EBe*uti#e)

:)

Bu)i$e)) 'R 'ier!r*"y

2aydeep Chaure -ead $ -& )ho'as Augustine A*+ , Business -& .onal -& Managers

State -& Managers

Sr /e0 /e , State 1ise

CS& , State 1ise

:'

'R Guide-i$e

NOO %(;U Portal NOO Salar! Processing Formalities NOO Ser ice 0onditions NOO Period of Probation NOO Performance Management NOO .m&ortant Policies NOO Pro ident Fund NOO 4m&lo!ee De elo&ment NOO 0om&an! 4/&ectations from 5ou

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ROLE OF BUSINESS 'R

0om&liments the %O %( team as re&resentation at the ground le el catering to the %( needs of the ast s&read of offices. 4/tended arm of the arious %( &roduct teams from %O One sto& for all %( needs across the countr! across all channels .m&lementation and feedbac$ of all initiati es underta$en b! %( Underta$es Branch isits" %( .nduction" Attendance &rocessing" em&lo!ee grie ance management" Polic! awareness" Talent Ac9uisition" Talent Management" Performance management among a host of other %( acti ities

'R O er!tio$) 7 =ey Are!)

Pa!roll 4m&lo!ee Benefits 0om&liance Full > Final Settlement .nternal Mo ements GTransferMPromotionsH %(.S %( Audit %( M.S 4m&lo!ee (elation %ub Single 4m&lo!ee Database
:;

Dear 0olleagues" Eelcome to the 4<Page of BA#.0< 0or&orate Training and De elo&ment . This is a com&rehensi e solution to all !our de elo&mental need

Com !$y i$trodu*tio$ C!-iber Te)t S!-e) C!-iber EB!m Per)o$!-ity Te)t Em -oyee S!ti)+!*tio$ Sur#ey M!$tr! />>< Tr!i$i$: Feedb!*@ Port!-

This is for new 7oinees to $now more about the organi8ation This is a recruitment test for 0S(s This is a recruitment test for STMs This is a &ersonalit! test 4SS for '--? is closed 0S( to 0S4 Test Feedbac$ corner for all em&lo!ees and for all channels.

Ser#i*e Co$ditio$)
O++i*e Timi$:)
:+

Monda! to Frida!D , am to ? &m

Saturda!D , am to ) &m Or Alternate Saturda!D , am to ? &m #unch TimingsD ) &m to ' &m

'o-id!y)
Eee$l! OffsD Sunda! Paid %olida!sD )- &er annum 4arned #ea esD ') &er annum Sic$ #ea esD + &er annum

Atte$d!$*e
Attendance is recorded through %(;U. 4ach em&lo!ee has a #ogin .D and &assword through which heMshe can access %(;U and regularl! u&date his attendance records. This is a&&licable for all em&lo!ees. A Muster Attendance (egister is a ailable in branches" in which 3on<%O em&lo!ees can mar$ their attendance.

:?

Prob!tio$ Period
The Probation Period is ? months for all em&lo!ees and can be e/tended at Management6s discretion. On com&letion of the &robation &eriod" the 0om&an! will inform !ou whether or not !ou ha e been confirmed in !our a&&ointment. The &robation &eriod is deemed to be a &art of !our total &eriod of ser ice.

Im ort!$t Po-i*ie)
Le!#e
All Team Members are eligible for ) 4arned #ea e &er )' wor$ing da!s" and + da!s of Sic$ #ea es in the !ear. 5ou can accumulate u& to a ma/imum of ?+ da!s of lea e and )- Sic$ #ea es" at an! &oint of time. On se&aration from the com&an!" ?+ 4arned #ea es can be encashed" howe er Sic$ #ea es are not encashable. Sunda!s and &aid holida!s are not included.

Lo*!- Co$#ey!$*e

:*

Team members can claim (s. +.+- &er $m as reimbursement of &etrol e/&enses for a four < wheeler used for official &ur&oses. The rate for two wheelers used for official &ur&oses is (s. ' &er $m. The same ma! be claimed in the &rescribed format.

(i)iti$: C!rd) C Em -oyee Ide$tity C!rd)

All Team members are eligible for isiting cards. After a member 7oins" the isiting card re9uisition must be filled u& in the &rescribed tem&late and gi en to Admin for &rinting. 4m&lo!ee .D 0ard Format is also a ailable with ADM.3. After getting the 4m& code" this form needs to be filled u& and the 4m& .D card is made a ailable in the ne/t ' wee$s.

Ad#!$*e !:!i$)t S!-!ry

Team members shifting from an outside location are eligible to claim Ad ance for house de&osit. This amount will be reco ered as &er the term of the #ea e and #icense agreement sub7ect to a ma/imum of :? installments Gde&ending u&on the #ease Agreement signedH. Submission of a co&! of the #ea e and #icense agreement is a &re re9uisite to a ail of this benefit.

:B

Bro@er!:e Reimbur)eme$t
The com&an! will &a! the %ouse Bro$erage fees for Team Members. This is a one time &a!ment and sub7ect to a ma/imum of one and a half months=(ental.

Pro#ide$t Fu$d
All Team Members are eligible for Pro ident Fund as &er statutor! &ro ision. The Team Member contributes )'A of his M her basic salar!" e er! month" to this fund" and the com&an! ma$es an e9ui alent contribution. The Pro ident Fund is regulated b! the (PF0" Pune. For more details" !ou can log onto htt&DMMe&findia.nic.inM

Gr!tuity
All team members are eligible for gratuit! as &er &ro isions under the Pa!ment of Gratuit! act" ),*' GR )+ da!s last drawn basic salar! for e er! com&leted !ear of ser iceH. Gratuit! &a!able to the limit of :.+ lacs is e/em&ted from ta/ deduction.

Noti*e o+ Termi$!tio$
O$ Prob!tio$
:,

During the &robation &eriod" the com&an! ma! terminate the ser ices of the em&lo!ee at an! time b! gi ing *da!s notice with or without assigning an! reason whatsoe er. Similarl! the em&lo!ee would also be at libert! to lea e the ser ices of the com&an! at an! time u&on gi ing *da!s &rescribed notice. O$ Co$+irm!tio$ During the confirmed &eriod" the com&an! ma! terminate the ser ices of the em&lo!ee at an! time b! gi ing one<month notice with or without assigning an! reason whatsoe er. Similarl! the em&lo!ee would also be at libert! to lea e. The ser ices of the com&an! at an! time gi ing one month=s &rescribed notice.

Fu-- !$d Fi$!- Sett-eme$t

.n case em&lo!ee decides to lea e the organi8ation he will ha e to submit his letter of resignation to the De&artmental head M re&orting manager. Once acce&ted he will fill in a clearance form > get it signed from his de&artmental head. The<relie ing letter would be issued. Onl! after the acce&tance of his resignation > when the clearance form reaches the %(P > &ersonnel de&t. The full > final settlement of dues would be initiated as soon as the relie ing letter is issued.

Li+e I$)ur!$*e
All Team Members are co ered for a sum assured of ?- times their

;-

monthl! basic salar!. This co er remains onl! as long as the! remain in the ser ice of the 0om&an!" sub7ect to the minimum limit of (s + lacs and the ma/imum of (s :- lacs.

Em -oyee &e o)itory Li$@ed I$)ur!$*e DE&LI3

This is an additional #ife .nsurance 0o erage e/tended on behalf of the com&an! in lieu of .nsurance co ered under 4m&lo!ees Pro ident Fund Act ),+'. This is to the ma/imum limit of ).+ lacs" &a!able onl! incase of em&lo!ee6s death" to the legal heir. The &remium for this &olic! is borne b! the com&an!.

Medi*!re
All Team Members are eligible to 7oin the Medicare %os&itali8ation &olic! entered into with Medicare Ser ices #td. Please u&date !our &ersonal and famil! details through %(;U. %(;US M! ProfileS Personal ProfileS Famil! DetailsS 4nter Famil! Details 4m&lo!ees ha e an o&tion to select a Famil! Floater 0o er for self" s&ouse" ' children and &arents for a floater amount of (s :" +" *.+" )or )+ lacs. 4nrollment into this scheme is done onl! through %r;U. .ncase an em&lo!ee fails to do his enrollment within )- da!s from the date of creation of his %(;U id" the com&an! gi es him default co erage of
;)

(s. : #acs for himself onl!. The co erage amount once selected or gi en b! default cannot be changed during the &olic! &eriod G)st Se&tember to :)st AugustH. %owe er" members can be added at an! time. There is a com&an! subsid! of (s.+"---M< towards Medicare &remium. An! &remium amount e/ceeding (s.+"---M< is reco ered from the em&lo!ee=s salar!. This is a one<time deduction. Details are u&loaded on %r;U on the following &athD %r;US MedicareSMedicare Details.

Pro#ide$t Fu$d
All Team Members are eligible for Pro ident Fund as &er statutor! &ro ision. The Team Member contributes )'A of his M her basic salar!" e er! month" to this fund" and the com&an! ma$es an e9ui alent contribution. The Pro ident Fund is regulated b! the (PF0" Pune. For more details" !ou can log onto htt&DMMe&findia.ni

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COMPANY BAC=GROUN&
Allian8 AG was founded in Ber-i$ i$ .<E> !$d )"i+ted it) "e!dFu!rter) to Mu$i*" i$ .E1E. T"e +ir)t )te to be*ome !$ i$ter$!tio$!- *om !$y )t!rted ,it" t"e o e$i$: o+ ! br!$*" o++i*e i$ Lo$do$ i$ t"e -!te .Et" *e$tury. A+ter 8or-d 8!r IIG :-ob!- bu)i$e)) !*ti#itie) ,ere :r!du!--y re)umed. A--i!$9 o e$ed !$ o++i*e i$ P!ri) i$ t"e -!te .E2>)G !$d ! m!$!:eme$t o++i*e +or It!-y i$ t"e .E;>). T"e)e eB !$)io$) ,ere +o--o,ed i$ t"e .EH>) by t"e e)t!b-i)"me$t o+ bu)i$e)) i$ Gre!t Brit!i$G t"e Net"er-!$d)G S !i$G Br!9i- !$d t"e U$ited

;:

St!te). I$ .E<;G A--i!$9 !*Fuired Cor$"i-- I$)ur!$*e PLCG Lo$do$G !$d t"e ur*"!)e o+ ! )t!@e i$ Reu$io$ Adri!ti* di Si*uritI DRAS3G Mi-!$G )tre$:t"e$ed it) re)e$*e i$ 8e)ter$ !$d Sout"er$ Euro e i$ t"e .E<>). Re*e$t-yG i$ Febru!ry <G />>;G RAS S"!re"o-der) ! ro#ed t"e mer:er) ,it" A--i!$9. I$ .EE>G A--i!$9 )t!rted !$ eB !$)io$ i$to ei:"t E!)ter$ Euro e!$ *ou$trie) ,it" e)t!b-i)"i$: ! re)e$*e i$ 'u$:!ry. I$ t"e )!me de*!deG A--i!$9 !-)o !*Fuired Firem!$6) Fu$dG !$ i$)urer i$ t"e U$ited St!te)G ,"i*" ,!) +o--o,ed by t"e ur*"!)e o+ A))ur!$*e) Ge$er!-) de Fr!$*e DAGF3G P!ri). T"e)e !*Fui)itio$) ,ere +o--o,ed by t"e eB !$)io$ i$to A)i! ,it" )e#er!- 5oi$t #e$ture) !$d !*Fui)itio$) i$ C"i$! !$d Sout" =ore!. Arou$d t"i) time A--i!$9 eB !$ded it) !))et m!$!:eme$t bu)i$e)) !) ,e-- by ur*"!)i$: +or eB!m -e !))et m!$!:eme$t *om !$ie) i$ C!-i+or$i!. .n '--)" Allian8 ac9uired &re)d$er B!$@G ! -!r:e Germ!$ b!$@. A--i!$9 Grou !$d &re)d$er B!$@ *ombi$ed t"eir !))et m!$!:eme$t !*ti#itie) by +ormi$: A--i!$9 G-ob!- I$#e)tor). I$ />>/ Mi*"!e- &ie@m!$$ )u**eeded 'e$$i$: S*"u-te4Noe--e !) CEO o+ A--i!$9 AG. T"e A--i!$9 Grou ,!) rei$*or or!ted u$der !

4uro&ean 0om&an! Statute and" as a result of the cross< border merger with (AS" Allian8 con erted into a Euro e!$ Com !$y DSE 7 So*iety !) Euro e!$3 i$ O*tober .0G />>;.

;;

Allian8 is now &resent in more than *- countries with o er )B-"--- em&lo!ees. At the to& of the international grou& is the holding com&an!" Allian8 S4" with its head office in Munich. Allian8 Grou& &ro ides its more than ?- million customers worldwide with a com&rehensi e range of ser ices in the areas of &ro&ert! and casualt! insuranceG life and health insurance" !))et

m!$!:eme$t !$d b!$@i$: %enning Schulte<3oelle was the first 04O of Allian8 who too$ u& the histor! in the Third (eich when he commissioned an Archi e for 0or&orate %istor! in ),,:" which was o&ened in ),,?. .n ),,* Schulte<3oelle as$ed Gerald D. Feldman" historian from the Ber$ele! Uni ersit! in 0alifornia" if he would underta$e a larger research &ro7ect on Allian8 &ast in the Third (eich. Feldman started the research in ),,B together with a team of !oung historians. A few month later 2ewish Eorld Ear .. sur i ors and their descendants too$ Allian8 and other 4uro&ean insurance com&anies to court" accusing them of un&aid insurance &olicies. Allian8 and four other insurers su&&orted the creation of the Q.nternational 0ommission on %olocaust era .nsurance 0laimsQ G.0%4.0H" furthermore Allian8 became a founding member of the German Foundation Q(emembrance" (es&onsibilit! and FutureQ. Both organi8ations too$ care of &a!ments for the ictims

;+

Feldman &ublished the com&rehensi e results of his research in Se&tember '--). Based on this result A--i!$9 e)t!b-i)"ed !$ eB"ibitio$ i$ t"e Ar*"i#e +or Cor or!te 'i)tory !$d i$ t"e i$ter$et. T"e re)e!r*" *o$*-uded t"!t A--i!$9G !) !$

or:!$i9!tio$ !$d t"rou:" it) *or or!te o++i*er)G ,!) +or*ed to *om -y ,it" t"e N!9i Re:ime !$d t"e T"ird Rei*"G )t!rti$: !) e!r-y !) t"e e!r-y .E0>) !$d *o$ti$ui$: !-- t"e ,!y t"rou:" to t"e *o--! )e o+ t"e T"ird Rei*" i$ .E12.

Amo$: t"e more $ot!b-e eB!m -e)? Allian8 managers held senior &ositions in the

administration of national socialist German!. Lurt Schmitt" director general of Allian8 until ),::" was %itler6s (eich 4conomics Minister from 2une ),:: until 2anuar! ),:+. %e became a member of both the 3a8i Part! and the SS in ),::. 4duard %ilgard" member of the board of Allian8" became head of the Q(eich Grou& for .nsuranceQ in ),:;. %e re&resented the insurance industr! in a conference summoned b! %ermann Goring after the 3o ember Pogrom of ),:B. %ilgard re&orted on the material damages caused during the 0r!stal 3ight Pogrom and the estimated amounts of mone! insurance

;?

com&anies had to co er. Subse9uentl! the 3a8i Administration drafted &rinci&les for the settlement of claims. According to these guidelines all claims of non< 2ewish claimants and 2ewish &olic!holders with foreign citi8enshi& had to be satisfied" all claims of 2ewish claimants with German citi8enshi& were abolished b! ministerial order. After long<lasting negotiations %ilgard and the 3a8i ministries agreed u&on a lum& sum &a!ment of ).: million mar$s to the state. T+U (esearch showed that Allian8 insured buildings owned b! the SS and staff of Auschwit8 e/termination cam&" as well as of the Dachau concentration cam&. Prior to issuing the insurance &olicies" ins&ectors of Allian86s local branch isited the cam&s. Professor Gerald Feldman6s stud! on the cor&orate histor! of Allian8 confirmed that the com&an! offered casualt! insurance to engineers wor$ing at the Auschwit8 &lant of .G Farben 0om&an!. GDegesch" a subsidiar! of .G Farben" manufactured 1!$lon B in factories in Dessau and Lolin. The &esticide was used at Auschwit8 and other cam&s to e/ecute *! ti#e).3. Fe-dm!$ )umm!ri9ed "i) +i$di$:) )t!ti$:? JIt ,!) 5u)t o$e more ie*e o+ bu)i$e)) i$ t"e T"ird Rei*"G but i) demo$)tr!ted t"!t )u*" ie*e) o$ !$y -!r:e )*!-e m!de *o$t!*t !t )ome oi$t ,it" !-t"!t i) re re)e$ted by t"e $!me KAu)*",it9L 7 +rom )-!#e -!bor to eBtermi$!tio$ 7 #irtu!--y i$e)*! !b-e.K M2N M2N Sour*e? Ger!-d &. Fe-dm!$? OA--i!$9 !$d t"e Germ!$ I$)ur!$*e Bu)i$e))G .E004.E12OG C!mbrid:e U$i#er)ity Pre))G

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Re*e$t m!$!:eme$t
04Os to dateD

'--: << D Michael Die$mann ),,)V'--:D %enning Schulte<3oelle

Au)tr!-i!

Allian8 around the world Allian8 Australia #imited GAB3 ') --- --? ''?H o&erates throughout Australia and 3ew 1ealand and through its subsidiaries offers a range of insurance and ris$ management &roducts and ser ices. Subsidiaries of Allian8 Australia include 0lub Marine" Allian8 #ife and %unter Premium Funding

Be-:ium
Allian8 o&erates through Allian8 Belgium" &re iousl! AGF Belgium which has been re<

;B

branded to Allian8 Belgium on the ', 3o ember '--*..

C!$!d!
Allian8 &ut a sudden halt to its 0anadian P>0 o&eration Allian8 0anada Gmar$et share 'AH in '--; after se eral !ears of unfa orable business results. Allian8 originall! entered the 0anadian mar$et in the earl! ),,-s through an ac9uisition of se eral 3orth American insurers" namel! the American Firemans Fund and the 0anadian Suret!. U&on the mar$et e/it the &ersonal and commercial lines unit was sold off to the mar$et leader .3G 0anada" whereas its industrial underwriting branch was bought b! Allian8 US" which has retained the Toronto office.

I$di!
.n .ndia Ba7a7 Allian8 General .nsurance 0om&an! #imited is a 7oint enture between Ba7a7 Finser #imited Grecentl! demerged from Ba7a7 Auto #imitedH and Allian8 S4.

;,

S-o#!@i!

+-

Allian8 < Slo ens$a &oisto na head9uarters" Bratisla a Allian8 started its life and Pro&ert! > 0asualt! GP>0H o&eration in Slo a$ia in ),,: but the local subsidiar! was ne er able to achie e a rele ant mar$et share. .n '--) Allian8 AG bought the ma7orit! ownershi& in then state< owned Slo ens$a &oisto na GSlo a$ .nsurance 0om&an!H" at the time suffering from &olitical mismanagement" asset<stri&&ing and dee& under< reser ing. Slo ens$a howe er held a mar$et share of &ri ati8ation target" where Allian8 had to com&ete with such insurers as AWA or Aegon. U&on the &urchase the local Allian8 o&eration was merged with Slo ens$a creating a new com&an! Allian8 < Slo ens$a &oisto na. .ts combined mar$et share Glife and P>0H &resentl! stands at 7ust below ;-A Gabout +-A in P>0 businessH" still ma$ing it b! far the mar$et leader.

U$ited =i$:dom

+)

Allian8

owns

British

insurance

com&an!

0ornhill .nsurance &lc" subse9uentl! renamed Allian8 0ornhill .nsurance &lc. This then sim&l! became Allian8 .nsurance &lc on :- A&ril '--* to directl! reflect its continental &arentage. Their .T ca&ti e unit in .ndia Allian8 0ornhill .nformation Ser ices &lc is located at Techno&ar$" Lerala. Allian8 owned Lleinwort Benson which it inherited when it bought Dresdner Ban$. The in estment ban$ has subse9uentl! been merged with the cor&orate ban$ of Dresdner Ban$ and rebranded as Dresdner Lleinwort . .t also owns the %igh 3et Eorth insurance bro$er %ome and #egac!.

S ort)
Allian8 &ro ided naming rights for the Allian8 Arena" a football stadium in the north of Munich" German!" which is s&onsored b! Allian8. The two &rofessional Munich football clubs Ba!ern Munich and TSK )B?- MXnchen ha e &la!ed their home games at Allian8 Arena since the start of the '--+@-? season. Both clubs had &re iousl! &la!ed their home games at the Munich Ol!m&ic StadiumF Ba!ern Munich since ),*' and )B?- MXnchen since the ),,-s.
+'

Allian8 owns the Polish football team Gorni$ 1abr8e. Allian8 had been in negotiations with the 3ew 5or$ 2ets and the Giants to bu! naming rights to the Meadowlands Stadium in 4ast (utherford" 32 " but those tal$s ended due to o&&osition from 2ewish grou&s and holocaust sur i ors. T;U

Allian8 has been a s&onsor of the AT>T EilliamsF) Team since '---.

Ba7a7 Allian8 General .nsurance 0om&an! #imited is a 7oint enture between Ba7a7

+:

Finser #imited Grecentl! demerged from Ba7a7 Auto #imitedH and Allian8 S4. Both en7o! a re&utation of e/&ertise" stabilit! and strength. Ba7a7 Allian8 General .nsurance recei ed the .nsurance (egulator! and De elo&ment Authorit! G.(DAH certificate of (egistration on 'nd Ma!" '--) to conduct General .nsurance business Gincluding %ealth .nsurance businessH in .ndia. The 0om&an! has an authori8ed and &aid u& ca&ital of (s ))- crores. Ba7a7 Finser #imited holds *;A and the remaining '?A is held b! Allian8" S4. As on :)st March '-)-" Ba7a7 Allian8 General .nsurance maintained its &remier &osition in the industr! b! achie ing growth as well as &rofitabilit!. The com&an! garnered a &remium income of (s. '*'; crore. Ba7a7 Allian8 has made a &rofit before ta/ of (s. )B- crore" an increase of ')A o er the &re ious !ear and has become the onl! &ri ate insurer to cross the (s.)-- crore mar$ in &rofit before ta/ in the last four !ears. The &rofit after ta/ was (s. )') crores" '*A higher than the &re ious !ear" which is one of the highest b! an! &ri ate insurer. Ba7a7 Allian8 toda! has a countr!wide networ$ connected through the latest technolog! for

+;

9uic$ communication and res&onse in o er '-towns s&read across the length and breadth of the countr!. From Surat to Siliguri and 2ammu to Thiru anantha&uram" all the offices are interconnected with the %ead Office at Pune.

Our A*"ie#eme$t)
Ba7a7 Allian8 has recei ed QiAAA rating" from .0(A #imited" an associate of Mood!=s .n estors Ser ices" for 0laims Pa!ing Abilit!. This rating indicates highest claims &a!ing abilit! and a fundamentall! strong &osition. Ba7a7 Allian8 General .nsurance has recei ed the &restigious IBusiness #eader in General .nsuranceJ" awarded b! 3DTK Profit Business #eadershi& Awards '--B. The com&an! was one of the to& three finalists for the !ear '--* and '--B in the General .nsurance 0om&an! of the 5ear award b! Asia .

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PRO&UCT RANGE

Unit #in$ed Plans

Pension Plans

Traditional Pla

+?

U#.Ps are life insurance solutions that &ro ide the dual benefit of &rotection and fle/ibilit! in in estment 0hoose from our wide arra! of (egular and" Single &remium &roducts. Start in esting nowY

The right time to &lan for !our old age is now. 4/&lore our Annuit! and (etirement &lans below and start sa ing for !our

#oo$ing for b Sa ingsZ Our

#ife .nsurance

range of 4ndo

and Mone! Ba

&olicies can he

get a life co e

with an assure

golden !ears now. return on matu

(egular Premium iGain .. 3ew Famil!Gain .. 3ew UnitGain .. Famil! Assure .. 0entur!Plus ... UnitGain Protection Plus .. Smart .n estment Plan .. Assured Gain

Annuit!

4ndowment .n estGain Sa e0are 4conom! SP #ife Time 0areSu&er Sa .n est Plus .n est Plus Premier

+*

Single Premium Shield Plus Eealth Gain

(etirement Futue.ncome Generator Swarna Kishranti (etirement Ad antage Preretirement Pension Guarantee Future Secure ..

Mone! Bac$ 0ash Gain

+B

Eomen .nsurance Plans To cater to women=s s&ecial needs we offer inno ati e women s&ecific &lans which &ro ide in estment benefits" sa ings" retirement solutions and medical insurance. Pure life ris$ o ers for those who are loo$ing for onl! insurance and not in estments or sa ings. 0hoose from our &lans from below. Protector Term 0are

0hild Plan

Secure the fu needs of !ou children toda Ehat=s more small amoun from e er! & &urchased go towards educ an under&ri ileg child through aseema foundation.

Products for %ouse Ei es

4/&lore our 0are Plans n

3ew (is$ 0are ..

+,

Project Prof !e

E! " # ! t$ For Recr% t&e't of (' I')%r('ce A"e't

4 er! &erson who has cleared higher secondar! e/amination can become an agent other than a minor or the &erson who is con icted in an! court for crime or an! legal &roceedings. Men and women both can wor$ as an Agent. A single &erson can be associated with other life insurance com&anies. A training &rogram is there to train a &erson who wants to become an Agent. There is )-- %rs. training &rogram which can be done either with the &h!sical a&&earance in the class room or the interest basis. .n the classroom training the trainee has to be &h!sicall! &resent in the training session. There are difference sessions of training &rogram. A trainee can attend an! session according to his comfort. The training &eriod is of '+ da!s a&&ro/. .f the

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trainee does not ha e enough time to de ote in the classroom training" then there is another o&tion left that is training on .nternet. On the basis of .nternet the trainee has &ro ided a login number along with the &assword through which he o&erated his login and com&leted his training as con enient. 4ach and e er! hour &ass on the net under his login head will be count on his account. The test for the training &rogram is also on line. This is onl! &rocedure to be an .nsurance Agent.

S*o e o+ I$)ur!$*e A:e$t

.n the &resent scenario the li ing standard is becoming higher and higher e er! da!. 4 er! &erson who has a famil! to sur i e wants to &ro ide his famil! each and e er! &ossible comfortable thing. %e wants his children to be a well dressed" to be higher 9ualified in a well recogni8ed school" colleges" institutes and wants his children to go abroad for higher education. %e wants to li e a lu/ur! life full of &leasure. To fulfill all of his needs he has to earn more and more. An! &erson can be on a 7ob at a
?)

time or can be on a business can6t fulfill his &leasure re9uirement. There is a source through which he can ma$e mone! in a legal wa! that is insurance sector. Becoming an insurance Agent &ro ides him the legal source b! which he can earn mone! with his current status. .t is the business in which !ou deal with !ou &ersonal contacts and can gain e/tra income. This business needs low in estment and not of much effort. .t6s all de&ending on !our social contacts and !our s$ills to con ince &eo&le b! hel&ing them to suggest the &roduct which suited them the most. As due to critical diseases" growing &ercentage of accident and fear of financial crisis e er!one wants to secure his or her future. .nsurance sector &la!s a ital role in assuring &eo&le about their future. As the sco&e of insurance enhancing" the need of an insurance Agent who can guide the &otential customers is growing. Being an insurance agent of Ba7a7 Allian8 #ife .nsurance &ro ides a legal mean to earn mone! which &rotects a &erson from earning through an illegal source which is harmful for societ! as well as him.

?'

For the !oungsters it &ro ides great &latform to &ro e them. On the basis of their &erformance the! can be recruited as unit manager.

8'AT IS RECRUITM ENTP

Re*ruitme$t refers to the &rocess of attracting" screening" and selecting 9ualified &eo&le for a 7ob at an organi8ation or firm. For some com&onents of the recruitment &rocess" mid< and large<si8e organi8ations often retain &rofessional recruiters or outsource some of the &rocess to recruitment agencies.

?:

The insurance is

recruitment

&rocedure

of

life

er! eas!. A &erson with high

educating and well e/&erience can be recruited after a &ersonal inter iew and grou& discussion. After the training &rogram is com&leted the .nsurance Agent has to a&&ear for the &re< e/amination conducted b! .(DA. As he clear the e/am he &ro ides a license" which is the
?;

&roof of a legali8ed insurance Agent" which &ermits him to deal in his insurance business.

Ste )

i$

re*ruitme$t

o+

I$)ur!$*e A:e$t)
A&&roach to the li$el! &erson A&&ointment as &er condition Discuss the to&ic Gi e the documents which includesD< ). Pros&ectus of the com&an! '. Brochure :. 0om&an!6s &lan ;. [uestionnaire 0ollect the document after its com&letion Forward it to &ro7ect manager Feed it in the com&uter as the database Follow u& as &er conditions

Mode) o+ Co$t!*t
Personal 0ontacts (eferences Phone 0alls Guidance as &er Unit Manager

?+

 E4Re*ruitme$t
Man! big life insurance organi8ations use .nternet as a source of The! recruitment. ad ertise 4< 7ob (ecruitment is the use of technolog! to assist the recruitment &rocess. acancies through worldwide web. The 7ob see$ers send their a&&lications or curriculum itae i.e. 0K through e mail using the .nternet. Alternati el! 7ob see$ers &lace their 0K6s in worldwide web" which can be drawn b! &ros&ecti e em&lo!ees de&ending u&on their re9uirements. Ad antages of e<recruitment areD #ow cost. 3o intermediaries (eduction in time for recruitment. (ecruitment of right t!&e of &eo&le. 4fficienc! of recruitment &rocess. The bu88word and the latest trends in recruitment is the I4<(ecruitmentJ. Also $nown as IOnline recruitmentJ" it is the use of technolog! or the web based tools to assist the recruitment &rocess. The tool can be either a 7ob
??

website li$e nau$ri.com" the organi8ation6s cor&orate web site or its own intranet. Man! big and small organi8ations are using .nternet as a source of recruitment. The! ad ertise 7ob acancies through worldwide web. The 7ob see$ers send their a&&lications or curriculum itae G0KH through an e<mail using the .nternet. Alternati el! 7ob see$ers &lace their 0K6s in worldwide web" which can be drawn b! &ros&ecti e em&lo!ees de&ending u&on their re9uirements. The two $inds of e< recruitment that an organi8ation can use is @ 2ob &ortals @ i.e. &osting the &osition with the 7ob descri&tion and the 7ob s&ecification on the 7ob &ortal and also searching for the suitable resumes &osted on the site corres&onding to the o&ening in the organi8ation. 0reating a com&lete online recruitmentMa&&lication section in the com&an!6s own website. 0om&anies ha e added an a&&lication s!stem to its website" where the \&assi e6 7ob see$ers can submit their resumes into the database of the organi8ation for consideration in future" as and when the roles become a ailable.

?*

 (esume ScannersD (esume scanner is one ma7or benefit &ro ided b! the 7ob &ortals to the organi8ations. .t enables the em&lo!ees to screen and filter the resumes through &re<defined Gs$ills" criteria6s and re9uirements 9ualifications"

e/&erience" &a!roll etc.H of the 7ob. 2ob sites &ro ide a ';]* access to the database of the resumes to the em&lo!ees facilitating the 7ust<in<time hiring b! the organi8ations. Also" the 7obs can be &osted on the site almost immediatel! and is also chea&er than ad ertising in the em&lo!ment news&a&ers. Sometimes com&anies can get aluable references through the I&assers<b!J a&&licants. Online recruitment hel&s the organi8ations to automate the recruitment &rocess" sa e their time and costs on recruitments.

O$-i$e re*ruitme$t te*"$iFue)

Gi ing a detailed 7ob descri&tion and 7ob s&ecifications in the 7ob &ostings to attract

?B

candidates with the right s$ill sets and 9ualifications at the first stage. 4<recruitment should be incor&orated into the o erall recruitment strateg! of the organi8ation. A well defined and structured a&&licant trac$ing s!stem should be integrated and the s!stem should ha e a bac$<end su&&ort. Along with the bac$<office su&&ort a com&rehensi e website to recei e and &rocess 7ob a&&lications Gthrough direct or online ad ertisingH should be de elo&ed.

?,

*-

MET'O&S OF RECRUITMENT

I$ter$!- re*ruitme$t
e/isting wor$force.

is when the

business loo$s to fill the acanc! from within its

Ad#!$t!:e)?
0hea&er and 9uic$er to recruit Peo&le alread! familiar with the business and how it o&erates Pro ides o&&ortunities for &romotion with in the business @ can be moti ating

&i)!d#!$t!:e)?
#imits the number of &otential a&&licants Ma! cause resentment amongst candidates not a&&ointed 3o new ideas can be introduced from outside the business

*)

EBter$!- re*ruitme$t
business loo$s to fill the

is when the

acanc! from an!

suitable a&&licant outside the business.

Ad#!$t!:e)?
Outside &eo&le bring in new ideas #arger &ool of wor$ers from which to find the best candidate Peo&le ha e a wider range of e/&erience.

&i)!d#!$t!:e)?
#onger &rocess more e/&ensi e &rocess due to ad ertisements and inter iews re9uire. Selection &rocess ma! not be effecti e enough to re eal the best can candiate

F!*tor) A++e*ti$: Re*ruitme$t

*'

S%AP4 ^] M4(G4FO(MAT

*:

Need +or Ne, Re*ruitme$t Str!te:ie)

0onsidering the abo e realities" there is a dire need for a com&letel! new recruiting strateg! to ensure that that the industr!6s aggressi e growth targets are not cho$ed b! these challenges. This recruiting strateg! must ta$e into account the following realities. ..

A::re))i#e :ro,t" -!$). The entire

oil and gas industr! is &oised for ma7or growth" &articularl! in the Middle 4astM3orth Africa region" (ussiaM0.S countries" and the Asia Pacific region. This calls for aggressi e &eo&le< &lanning strategies for both the short< and long term. /.

Rete$tio$.

The oil and gas industr! is

bleeding from high attrition. .n the ser ice sector" the a erage attrition rate for '--? was ':A. There are se eral &roblems which cro& u& if attrition is not addressed &ro&erl!.

*;

0.

Re*ruitme$t *o)t).

.t is estimated that

the cost for an oilfield ser ices com&an! to re&lace an em&lo!ee is USD ?-"---. For an organi8ation with '+"--- em&lo!ees and a '-A attrition rate that would come to the astronomical figure of USD :-- million. (ecruitment costs are not alwa!s a&&arent but" if not curtailed" can ha e a huge im&act on a com&an!6s bottom line.

1. Time +!*tor. Attrition results in huge

e/&enditures of time for management" su&er isor!" and administrati e &ersonnel" not to mention lost &roducti it!.

KA UNI(ERSE OF =NO8LE&GE IS JUST 8AITING TO BE E%PLORE&L

*+

MET'O&OLOGY

Tit-e o+ t"e Study

I(ecruitment Process in .nsurance 0om&an!J. The stud! is showing recruitment

*?

&rocess of an! candidate in insurance com&an!. This stud! also shows wh! &eo&le 7oin insurance sector.

&ur!tio$ o+ t"e Pro5e*t

.n 2une'- to 2ul! '+" . ha e been assigned a &ro7ect on recruiting &rocess in insurance com&an! with s&ecial reference to Ba7a7 Allin8 #ife .nsurance as a &art of our course curriculum. The duration of the research is a&&ro/ :+ da!s.

Ob5e*ti#e o+ Study
The ob7ecti e of the recruitment &rocess is to obtain the number and 9ualit! of em&lo!ees that can be selected in order to hel& the organi8ation to achie e its goals and ob7ecti es. Following are other ob7ecti es of recruitment &rocess< ). Su&&ort the organi8ation abilit! to ac9uire" retain and de elo& the best talent and s$ills. '. .ncrease the effecti eness of arious recruiting techni9ues

**

Ty e) o+ Re)e!r*"
. used a descri&ti e t!&e of research. .t is one which includes sur e!s and fact finding" en9uiries of different $inds. The ma7or &ur&ose of such research is descri&tion of the state of affairs" as it e/ists at &resent. Methodolog! or &rocess in ol ing in the research followed during the course of summer training is as follows @

Co--e*tio$ o+ d!t!?
This is an im&ortant as&ect in formulating the ob7ecti e of research &rocess where the data is collected i. ia two &rocessD GiH Primar! Sources and GiiH Secondar! sources Primar! sources< Ehere the data is collected &rimaril! b! inter iewing and &ersonal obser ation and is original in nature and accurate to the considerable e/tent. ii. Secondar! sources< Ehere the data is obtained from some &ublished and &rinted
*B

sources

such

as

news&a&er"

maga8ines"

and

websites and so on. The stud! started with the attem&t to $now and get 9uenched with $nowledge of the entire organi8ation and its structure through a thorough .nduction Program &ro ided b! the organi8ation. 3e/t was the ste& to get the idea of the %ierarch! followed in the organi8ation" which would also be followed during the final selection of the candidate ia .nter iews. Mo ing with this a&&roach and getting streamlined with our ob7ecti e of recruiting the sales managers we went through a detailed document of 2ob Descri&tion in order to $now the arious tas$" duties and res&onsibilities that a sales manager is re9uired to hold and also that would hel& us in our &rocess of sourcing and short listing the candidates more effecti el! The methodolog! ado&ted during the recruitment acti it! included following ste&s Sourcing Screening Short listing Final .nter iew

SOURCING
*,

The initial ste& for the &rocess was Sourcing or collecting data as &er the re9uirements of a TASM. Sourcing" in case of recruitment of sales managers" from s&ecificall! means randoml! gathering data G0Ks and (esumes of candidatesH arious sources" which suit the 7ob descri&tion of a TASM in an! manner.

SOURCING STRATEGIES
The strategies ado&ted b! us during the acti it! had its ma7or focus on e/&loring the arious sourcing areas and assessing the rele ance of each. The arious sourcing areas e/&lored wereD

B-

 2ob Portal Gwww.nau$ri.comH Eal$<ins (eferrals 2ob Fair The e/act distribution of the arious sourcing areas in order of rele ance is as underD < 2ob Portal < ?;-B Mailing < +?'B 0alling < *B Eal$ .ns < + (eferrals < * 2ob Fair < ::

12% 88% Mail Cailing

SCREENING

B)

The ne/t ste& is of screening that would cr!stalli8e the &rocess of recruitment ia the actual e/amination of the candidates and their resumes and aligning the whole &rocess of e/amination with our re9uirement. During the &rocess we thoroughl! anal!8ed the resumes of candidates Gifit came ia mailsH or did a &reliminar! round of tele&honic inter iew with the candidate in order to get abreast with their ca&abilities in regard of meeting our ob7ecti es. The o erall screening was done on )-'+0Ks and the brea$u& wasD < Mail (es&onses< '- 0alls< *B Eal$ .ns and (eferrals<)' 2ob Fair< ::

B'

Mail Calls 1% 20% 76% 3% walk Ins and Referrals Job Fair

S'ORTLISTING

The ne/t ste& of short listing incor&orates m it the selecti it! in the recruitment &rocess with res&ect to two factors" the interest le el of the candidate and their suited $nowledge and e/&ertise. The short listed candidates distributed in each categor! are as underD < Mai. (es&onses<B' 0alls<;,

B:

 2ob Fair<.S Eal$<.ns and (eferrals<.'

8%

Mail Res!onses 52% 31% Calls

FINAL INTER(IE8
The last !et the most im&ortant ste& of the recruitment &rocess is that of the Final .nter iew. .t is after the com&letion of this round of selection that the candidate is finall! selected

B;

or re7ected based on the 7udgmental anal!sis of the selection &anel. .n Ba7a7 A)lian8 the final round of inter iew is done in arious stages that are usuall! in the hierarchical manner i.e. to sa! the first round is done b! the res&ecti e Branch Managers GBM=sH of that &articular location followed b! the second round at the le el of Di isional Managers GDM=sH. The final round is done b! the (egional Manager who confirms the selection of the candidate. After this the candidate is deemed to go through the assessment &rocess done at the le el of %( Managers in order to erif! the documents and the concerned details as &ro ided b! the candidate till the time of inter iew. .f the candidate is &assed through this &rocess heMshe is re9uired to submit some more documents as &rescribed in the chec$list &ro ided b! the %( de&artment. As soon as all these formalities are done the candidate is offered its A&&ointment #etter GAP#H and is allotted its Date of 2oining and the 4m&lo!ee code as s&ecified b! the norms of the organi8ation. The anal!sis done after the com&letion of the stud! can be bifurcated into two categories

B+

GENERAL QUESTIONS 8'IC' ARE AS=E& AT T'E TIME OF INTER(IE8

.. Te-- me )omet"i$: !bout your)e-+.

/ You -e+t your re#iou) 5obA,!$t to -e!#e your *urre$t 5ob be*!u)eP

0. 8"!t !re your be)t )@i--)P

1 8"!t i) your m!5or ,e!@$e))P

2. &o you re+er to ,or@ by your)e-+ or ,it" ot"er)P

;. C!reer A) ir!tio$)P H. 8"!t !re your i$tere)t) ot"er t"!$ ,or@PP

<. S!-!ry EB e*t!tio$P

B?

E. 8"y )"ou-d ,e "ire you r!t"er t"!$ ot"er *!$did!te)P O .> .'o, +!)t *!$ you ty eP ... '!#e For:otte$ To A)@ YouPO

ANALYSIS

):

*?

SELECT ION

FINAL INTERVIEW B

S-O&)!3G

4!S)!3G

,B-

SC&

3!3G

B*

SO"&C!3G

?-;B

5ield (atios Anal!tical Factors

YIEL& RATIOS

.n order to calculate and conce&tuall! anal!8e effecti el! each ste& of the &rocess of recruitment" we need to a&&l! some ratios that are called 5ield ratios that &ro ide us the filtering fre9uencies in form of figures of the latter stage in accordance with the earller one. Some of the ratios calculated are as underD <

Sour*i$: A S*ree$i$: R!tio< This

will &ro ide us the ratio of the total

BB

numbers of 0K=S screened to the total number of Sourced 0K=S. Total 3o. Of Sourced 0K=S< ?-;B Total 3o. Of Screened 0K=S< ,BR!tio- ,B-M?-;B _ ?D ) i.e. )?.'A

'.

S*ree$ed A S"ort -i)ted R!tio<

This ratio gi es us the filtration done during the Short listing of candidates from the Screened 0K=S. Total 3o. Of Screened 0K=S< ,BTotal 3o. Of Short listed 0andidates< )+B Ratio- )+BM,B_?D ) i.e. )?.)'A

:.

S"ort-i)tedAFi$!--y I$ter#ie,ed< This ratio re&resents the

e/tent to which the shortlist candidates meet all criteria in order to get into the &rocess of final inter iew.

ANALYTICAL FACTORS
Ehile doing the &rocess of anal!sis there were certain factors that had their rele ance in long
B,

term basis i.e to sa! that these factors can be targeted for future reference while doing the &rocess of recruitment at later &oint of time. This is with reference to the fact that the outcome or result generated out of the anal!sis of these factors can be of greater hel& in the Talent Ac9uisition &rocess as a whole. The factors in &icture are discussed as underD<

LOCATION

,-

This factor ta$es into account arious locations in order of rele ance &ertaining to the fact that which location carne u& with ma/imum number of res&onses and also in our &rocess of recruitment which location was targeted most of the times. The chart re&resents the e/act distribution of the ma7or location that did ca&ture most of the &ortion of the recruitment acti it!

13% "2% 33% 12% #anda $%&know 'an!%r ()*ers

.n the chart it can be clearl! obser ed that the ma7or &ortion of the candidates and res&onses were from #uc$now followed b! Banda and then Lan&ur. The categor! Others includes a random blend of man! locations li$e Sita&ur " (aibareil! " Fai8abad" Gonda" Mahoba" Orai" Mani&uri " Agra" %athras" Tundla" #a$him&ur" Behraich " Shah7ahan&ur etc.

,)

E&UCATION

The 4ducation factor ta$es into account the educational 9ualification of the short listed candidates and also the rele ance of the ma7or 9ualification degree among the short listed candidates. This was done on two rounds " firstl! we bifurcated the Under graduates from the Post graduates and then did the distribution on both the le els so as to get the clear idea of the ma7or degree that the candidates ac9uired hold. The distribution of the Under Graduates and Post graduates is gi en in the chart below where we can see that the ma7or &ortion of the candidates short listed were Post Graduates.

,'

IN&USTRY

The industr! factor includes the e/&osure in terms of industr! that the short listed candidates had with them. The anal!sis of this factor did hel& us in understanding the significance of industries other than .nsurance that can be the basis of our recruitment &rocess and from where the candidates can be targeted.

,:

+*e dis)rib%)ion of )*e ,ario%s Ind%s)ries III order of rele,an&e is s*own wi)* )*e *el! of a !ie &*ar) as %nder

17%

5%

7%

#anking-F ./ 36% +ele&o0 ()*ers

Ins%ran&e

35%

The stud! of the chart abo e can show that besides .nsurance that to&s the hiring list" among the other industries Telecom and Finance sector do ha e a decent share and so can be an area of targeting candidates from there. The categor! 3A de&icts the lot of candidates that either ha e not a&&lied in the industr! criteria or do not actuall! ha e the e/&erience of an! industr! as such

ORGANIZATIONS
The factor incor&orates in it the stud! of arious organi8ations from where the candidates can be

,;

directed

towards

our

organi8ation.

The

$nowledge of this factor would be of hel& in future in res&ect of the sourcing of candidates in a wa! that through the result of this factor we would come to $now the organi8ations from where the ma/imum number of candidates ha e res&onded and showed interest. .n future these organi8ations can be targeted s&ecificall! .n order to gather more streamlined and focused candidates for hiring.

5%

6% 11% Relian&e life ICICI 1r%den)ial ()*er Ins%ran&e Co. ()*ers

78%

,+

E%PERIENCE

This factor will anal!8e u&on the amount of e/&erience the short listed candidates ha e in terms of their wor$ing &eriod in their current or &re ious organi8ation. Ee also got to $now the a erage e/&erience e er! short listed candidate holds" which would again be of hel& for formulating the e/act s&ecifications for the &ost aft ASM Gin terms of e/&erienceH in future. The a erage e/&erience anal!8ed was :.; !ears. .n all around ,? candidates were ha ing e/&erience in an! organi8ation and the rest were either not currentl! em&lo!ed an!where or were fresher. The e/act distribution is de&icted through the following chart which shows that the ma/imum number of candidates lie in the range of '<; !ears of e/&erience. Tn the categor! + !ears and abo e" there was no consistenc! found in an! &articular range of !ears rather a random distribution of the number of !ears at arious le els was noticed and ma/imum e/&erience being of )+ !ears.

,?

E*PERIENCE
30 25 20 Fre+%e'c$ 15 10 5 0 021 3r 122 3rs 223 3rs 32"3rs "253rs 5 and abo,e 4rs 8 12 25 1 10

22

N%&#er of Ye(r)

,*

CTC
The #ast factor includes the range of 0T0 that the short listed candidates were getting in their &re ious organi8ation. This factor would be of hel& in terms of formulating and fi/ing the 0T0 in our organi8ation with res&ect to the current Mar$et scenario for the &ost of TASM. The 0T0 at an! &oint should be such that for the candidates it acts as a dri e to be associated with the organi8ation and should not ha e a negati e im&act on them" if the! com&are it with the current mar$et situation. The a erage 0T0 that was calculated was of ) .'? la$h &er annum that the ma7or &ortions of the short listed candidates were getting with one outlier of :.'+ la$h &er annum as well. The actual segregation of the 0T0 in arious ranges or salaries is gi en underD<

CTC
30 25 20 Fre+%e'c$ 15 10 5 0 021 lak*s 122 lak*s R%,ee) ' !(-.) 2 and abo,e lak*s 6 1 25

S*o e o+ Study
4 er! research is conducted to fulfill certain ob7ecti es and this ob7ecti e in turn fulfill some &ur&ose and is of significance for one or more then one &art!. This research is significant forD

To t"e )tude$t4
This stud! &ro ides the student a &ractical insight of arious acti ities and functions of the com&an!. The will also be able to de elo& in de&th $nowledge of %uman (esearch sector. The stud! is also re9uired for the &artial fulfillment of the re9uirement for the degree of M.B.A. as &er the curriculum.

To t"e *om !$y 4

The stud! would hel& SB. to $now the 4m&lo!ee`s attitude towards the com&an!. To $now the latest trend of the com&an!.

Limit!tio$ o+ Study
The research area was restricted onl! within the Si$ar cit!. This ma! not reflect the e/act &osition of the total mar$et. Sam&le si8e was also so less" limitation of time means and resource forced for small si8e.

[uestionnaire includes )? 9uestions" which affects the mentalit! of res&ondents that is time consuming.

S/OT
Stre'"t.)0
Ba7a7 Allian8 #ife has a uni9ue multi<distribution model encom&assing Bancassurance" Agenc! and Grou& 0or&orate. Ba7a7 #ife e/tensi el! le erages the State Ban$ Grou& as a &latform for cross<selling insurance &roducts. At &resent Ba7a7 #ife has o er ;-- branch offices in .ndia. Ee ta$e &ride in our trac$ record of growth" financial solidit!" ethical &ractices" domain e/&ertise and meritocratic culture. 2oin us for a rewarding and an enriching career.

8e!@$e))?

). #.0 is &re alent and sustains e en toda! a ma7or source of

&o&ulation.
'. #ow number of offices and networ$ and number of life insurance

agents.

:. #ac$ of $nowledge and e/&ertise.

ortu$itie)?
). #ife insurance has ca&tured its mere)+ @ '-A growth therefore a wide o&en unta&&ed mar$et is o&en to the com&an! to de elo&" grow and measure its success. '. Still the numbers of com&anies are few and com&an! has e er! ca&abilit! to grow and forward its &erformance areas to the widest.

T"re!t)?
). Peo&le are hesitant to in est and &ut their hard earned mone! to the &ri ate life insurance com&an! with the fear of getting lost. '. Belief towards #.0 as it is a go ernment cor&oration &hobia is continue to surmount the &eo&le of .ndia des&ite lots of flaws and de elo&ment and liberali8ation of life insurance.

:. Alternati e financial ser ices such as mutual fund" ban$ing ser ices" share and securities also &ose &roblems and threats to the wor$ing of the life insurance sector. ;. .lliterac! and unem&lo!ment also &ose threat.

+. (ising real estate industr! also &ose threat as &eo&le are in esting a bul$ of their mone! o er to that industr!.

FIN&INGS
The answers of the following 9uestions re&resent the results of the findingsD 'o, doe) t"e re*ruitme$t ro*e)) ,or@ !t A--i!$9 Grou P Some of our Allian8 com&anies are managed globall! and others locall!. For this reason" the recruitment &rocess ma! ar! according to

the Allian8 com&an!. There are two main ste&sD The a&&lication &rocess and the assessment &rocess. The e/act details of the &rocess ma! differ slightl! de&ending u&on the Allian8 com&an! offering the 7ob and an! local" regional or national considerations. &oe) A--i!$9 +o--o, R:ree$ re*ruitme$t6 ri$*i -e)P As global ris$ managers" we care about climate change. Ee belie e in and &ractice \green recruitment6 &olicies. This means that we ma$e e er! effort to encourage a &a&er<free recruitment &rocess with a minimal en ironmental im&act. 5our a&&lication is in ited through online mediums li$e e<mail" online a&&lication forms or the Global Talent Pool. .f &ossible" tele&hone or ideo<based inter iews are conducted to minimi8e an! tra el<related en ironmental im&act. 'o, doe) A--i!$9 !))e)) *!$did!te) ,it"i$ re*ruiti$:P At Allian8 Grou&" we ha e defined ten core com&etencies G(esults Orientation" 4ntre&reneurial Orientation" Strategic Orientation" Mar$et .nsight" Dri ing 0hange and .nno ation" 0ustomer Focus" Dri ing Di ersit!" Fostering (elationshi&s" #eading Peo&le" De elo&ing 0a&abilit!H as the essential building bloc$s for success. 4ach &osition" function and le el re9uires different s&ecifications. During the assessment &hase" !ou will be as$ed 9uestions about !our functional s$ills and &ast e/&eriences that relate directl! to the essential com&etencies re9uired for the s&ecific &osition.

T"u) t"e M!5or Fi$di$:) o+ t"e ,"o-e )tudy *!$ be )umm!ri9ed !) u$der: The ma7or targeting 8one or location for recruitment was #uc$now and Banda with res&ect to the interested candidates and the e/tent of res&onses gathered from each &lace. Pertaining to the 4ducational bac$ground the ma7or &ortion of the candidates were Post Graduates with MBAMPGDM as their highest 9ualification. 0oming to the .ndustr! a&art from .nsurance" Telecom and Financial sector can be targeted for recruitment as man! res&onses ha e come u& from candidates from these sectors. The ma7or Organi8ation that can be focused u&on for the recruitment of sales manager in future are (eliance #ife and .0.0. &rudential as the ma7orit! of candidates were from these organi8ations. The 2ob descri&tion of the Sales Managers can include the 4/&erience of the candidates ranging from ' to + !rs as obser ed from the anal!sis of the short listed candidates in terms of their e/&erience.

CONCLUSION
The Process of (ecruitment as discussed in the re&ort incor&orated some ma7or ste&s that if done in ade9uate manner ends with the e/&ected outcome" in this case with the actual ac9uisition of the TASMs. The (ecruitment &rocess ended with either of the following status of the inter iewed candidatesD Selected (e7ected Eithdrawn Out of the )+B short listed candidates the distribution of all in the abo e categories is as under

% 27%

5ele&)ed Re6e&)ed 7i)*drawn

6"%

The Figure wise descri&tion is gi en below Selected (e7ected < < ): ;) ,*

Eithdrawn <

&et!i-ed Li)t o+ t"e Se-e*ted C!$did!te)

S. No. ) San7ee Singh ' (ahul Singh Senger : Durgendra Bahadur ; Shailendra Singh + .mti!a8 Ahmed ? Manish L Shu$la * B , ))) )' ): Abhishe$ (ai 'B<A&r<)Ashish Gu&ta )<Ma!<)Sushil Lumar ?<Ma!<)Puneet Gaur Anil ,:B,)*,--B ,::?')-+,+ #uc$now . .nter iewed Lan&ur : Lan&ur . Lan&ur . (aibareil! .nter iewed .nter iewed .nter iewed .nter iewed Selected Selected Selected Selected Selected Selected Selected '*<A&r<)#uc$now . .nter iewed Selected '*<A&r<)B-B),**)*' #uc$now . .nter iewed Selected :<Ma!<)B--;';);:? Banda .nter iewed Selected '?<A&r<),,)B,-'';B 0how$ .nter iewed Selected ),<A&r<),:-*;)*)'B Lan&ur . .nter iewed Selected N!me &!te o+ I$ter#ie, ),<A&r<),*,',:B:+; #uc$now . .nter iewed Selected Co$t!*t No. Lo*!tio$ St!tu) St!tu) I

)-<Ma!<)- ,B:,)--?-' ))<Ma!<)- ,::+-++;;B

Mohit Lumar )'<Ma!<)- ,:)-:;++-* (ohit Bharadwa7 )*<Ma!<)- B--??B:));

#uc$now . .nter iewed Agra . .nter iewed

RECOMMEN&ATIONS
The (ecommendations are done and gi en with the &ur&ose of eliminating an! loo&holes that e/isted in the &rocess that .n some manner deteriorated the end results. This also incor&orates in it the arious authorities and all the &eo&le that in an! manner are in ol ed in the &rocess of (ecruitment. Eith due res&ect to the Organi8ation and its &eo&le there are some set of (ecommendations &ut forth with the earnest attem&t of benefiting the organi8ationD< Prior .nformation to the concerned authorit! GTrainees or the %( de&artmentH regarding the alidit! of the inter iew date and also which dates are not a&&licable for the .nter iews. This would reduce the withdrawn ratio that mostl! arises due to this &henomenon. 0lear .m&lementation of Guidelines. G.t is clearl! s&ecified .n the guidelines that An! inter iewing authorit! does not en7o! the right of gi ing an! tas$s to the inter iewee before the final confirmation of selection" still ma7orit! of the authorities do not abide b! this guideline and the result is that the inter iewee does not turn u& again and in some manner gets a negati e image about the Organi8ation.H .nacti e &artici&ation from the 0oncerned .nter iewing Authorities of 0ertain locales.G There is a need to ma$e the BMs" DMs and (Ms aware of the fact that this &rocess of recruitment is done for the benefit of the organi8ation and so it is re9uired of the &eo&le of the organi8ation to wor$ in a coordinated manner in order to achie e the end results more effecti el!H

#ac$ of .nteraction among the concerned %( authorit! for ecruitment &ur&ose and the Selection Authorit!. G This can be made better in order toactuall! align the goals of the organi8ation and the descri&tion formulated b! the %( de&artment as &erfectl! as &ossibleH 0lear Guidelines in terms of actual figure and facts should be formulated with res&ect to the e/&ectation of the organi8ation from the candidate in terms of 4ducation" 4/&erience etc. .f in future these &oints can be ta$en into consideration then the ratio of the Eithdrawn 0andidates that occurred mostl! due to some of these factors would surel! get reduced and the organi8ation would onl! get benefited out of this. Process and the wa! in which it is done in Ba7a7 Allian8 #ife .nsurance 0o GBA#.0H. %owe er the re&ort s&ecificall! focuses on the recruitment of Trainee Assistant Sales Managers GTASMH for the regions UP l " UP:" and Uttaranchal with ma7or orientations towards the former two regions. The ma7or ste&s in the Sourcing Screening Short listing Final .nter iew

SUGGESTIONS
Following are suggestions made for the benefits and augmentation of the sound wor$ing of the com&an! @Ba7a7 Allian8 life insuranceD ). 3eed to train and de elo& life insurance agents with more com&rehensi e $nowledge and s$ills to counter e er! 9ueries of the customer. '. .t is suggested that com&an! should not left an! stone unturned towards sound ad ertisement and &romotional measures on e er! section whether it is &rinted" media or air ia radio. :. The ad isors should be made aware and educated so that the! can e/tend their ser ices not onl! in terms of collection of &remium chec$s from the customer but also to educate them about the insurance and the latest nontraditional &lans. ;. All the com&an! should come out of a unit lin$ &roduct that should aid e er! selection of the societ!. +. .t is also suggested that s$illed management graduates need to be &laces on sales and mar$eting of financial ser ices who

can render their best ideas for the accom&lishment of the com&an! goals and ob7ecti es to the best e/tent. ?. Also" care need to be ta$en that e er! customer6s grie ance should be met with delight whether before &urchase or after sales. *. There should be an e/&ansion measure for more offices and location of more centers for offices of the com&an! be established so& that com&an! ma! grow its networ$. B. #ife insurance Products should be made fle/ible so as to suit e er! section of societ!.

Li)t o+ P-!*e) #i)ited +or *o$du*ti$: )ur#ey

Ba7a7 Allian8 %a8ratgan7 office. Other Branches of Ba7a7 Allian8G#uc$nowH Mar$et sur e! Other com&an! office

1UESTIONNAIRE
1.2. /.(t 3o $o% &e(' #$ ! fe ')%r('ce4 a8 1ro)e&)ion of *%0an asse) ,al%e agains) %n&er)ain)4 b8 / s%0 re&ei,ed af)er dea)* &8 #o)*

1.5. Do $o% t. '- ! fe ')%r('ce ) e))e't (! for e6er$ o'e4 a8 3es b8 .o

1.7. /.(t ) $o%r +%(! f c(t o'4 a8 1os) grad%a)e b8 9rad%a)e &8 5enior se&ondar4 1.8. Do $o% co&e %'3er: a8 18225 age gro%! b8 25 ; 35 age gro%! &8 35 ; "5 age gro%! d8 /bo,e "5 age gro%!

1.9. /o%!3 $o% ! -e to -'o: (#o%t ( c(reer ' ! fe ')%r('ce (36 )or ). , :.ere $o% c(' f%!f !! e6er$ 3e) re of $o%r ! fe4 a8 3es b8 .o

1.;. Do $o% ,erce 6e t.(t ! fe ')%r('ce #%) 'e)) ) ( 'o#!e )er6 ce or e'te3 #%) 'e))4 a8 3es b8 .o

1.<. /o%!3 $o% ! -e to #eco&e or o,t for ! fe ')%r('ce (36 )or %'3er e)tee&e3 ('3 ,ro),er '" or"(' =(t o' SBI L fe ')%r('ce4 a8 3es b8 .o

1.>. Do $o% ("ree t.(t t.e ! fe ')%r('ce #%) 'e)) ) ( "ro: '" '3%)tr$ ('3 : !! "ro: ('3 r(, 3 ,(ce ' f%t%re4 a8 3es b8 .o

1.?. Do $o% f(6or t.e ,r 6(t =(t o' of ! fe ')%r('ce #$ t.e Go6er'&e't :.ere ( ) "' f c('t '%&#er of co&,(' e) 'o: ' t.e &(r-et for ! fe ')%r('ce to t.e c%)to&er) : t. t.e (!! ('ce of &%!t '(t o'(!)4 a8 3es b8 .o 1. 2. 3. <<<<<<<<<<<<<<<<<<<<<<< <<<<<<<<<<<<<<<<<<<<<<< <<<<<<<<<<<<<<<<<<<<<<<

SUGGESTION0

PERSONAL INFORMATION0 N(&e0 @ <<<<<<<<<<<<<<<<<<<<<<<<

Loc(t o'0 @ <<<<<<<<<<<<<<<<<<<<<< Occ%,(t o'0 @ <<<<<<<<<<<<<<<<<<<<<<

ANALYSIS OF SURAEY

A$!-y9i$: o+ *o--e*ted d!t!?4

The data collected through mar$et sur e! and &ublished sources are then &rocessed to obtained necessar! inferences and findings for the &ur&ose of achie ing the ob7ecti e as well as to deri e necessar! conclusion. A considerable s$ill and $nowledge is in ol ed in anal!8ing the data for the &ur&ose of inter&reting thereof.

I$ter reti$: o+ d!t!?4

.t is the significant ste& where the data collected and anal!8ed is inter&reted in the forms of gra&hs and figures is de&icted in the re&ort called &ro7ect re&ort.

Summ!ri9i$: o+ d!t!?4

Thereb! necessar! summar! is &re&ared which is essential in the &ro7ect re&ort of the summer training being done under an organi8ation

M!r@et Sur#ey Re ort

C!te:ory o+ -i+e i$)ur!$*e

Protection of human asset alue against uncertaint! Ta/ benefit de ice Both

+) :B )?

From the sur e! it was drawn that life insurance is more a &rotection of human asset alue against uncertaint! Gconferred b! +) res&ondentsH where it is a ta/ sa ing o&tion Gbeing acce&ted b! :B res&ondentsH. #ife insurance is a ser ice in ol ing both these &rere9uisites as de&icted b! remaining )? res&ondents.

 E))e$ti!-ity o+ -i+e i$)ur!$*e

5es 3o

*B '*

.t has been obser ed and a&&lied as a #ife insurance is an essential ser ice and should be a&&licable to e er! one" as fa ored b! considerable *B res&ondents where it is not essential to an e/tent b! '* res&ondents from the summer training &ro7ect sur e! b! &utting forth the set 9uestionnaire.

Qu!-i+i*!tio$ +or -i+e i$)ur!$*e

Post graduate Graduate Senior secondar!

:+ +, ))

Ehen further en9uired about the 9ualification of res&ondents" it was found that +*A of the res&ondents were graduates" ::A were &ost graduates and remaining )-A were of higher secondar! out of total )-+ res&ondents.

 A:e Fu!-i+i*!tio$ +or -i+e i$)ur!$*e

)B<'+ age grou& '+ @ :+ age grou& :+ @ ;+ age grou& Abo e ;+ age grou&

;) :* ') ?

Further" the age 9ualification for agenc! recruitment" it was found that :,A res&ondents were belonging to )B @ '+ age grou&" :+A were belonging to '+ @ :+ age grou& where as '-A to :+ < ;+ age grou& and remaining ?A to abo e ;+ age grou&. C!u)e) o+ di))!ti)+!*tio$ (es&ondents had different iews about the dissatisfaction from the &resent status of wor$ing or occu&ation. Dissatisfaction has been de&icted in a table below and gra&hicall! abo e<

#ow earning #ow em&lo!ment #ow status '; )B All of the abo e

: ? ) %uge ca&ital in estment )*

C!reer i$ -i+e i$)ur!$*eP

5es 3o

+, ;?

Ehen as$ed about whether the! would li$e to $now about a glorified career in life insurance agenc! where the! can fulfill an! and e er! desire of their life" +, res&ondents agreed while ;? res&ondents said 3o and will see later sometime in future. .t has been de&icted that life insurance sector should be &romoted at the wide e/tent as it contribute to the econom! as a useful source beneficial for both nation as well as its citi8ens. Li+e i$)ur!$*e i) $ob-e )er#i*e or $otP

5es 3o

B? ),

BIBLIOGRAPHY

BOO=S
Managing %uman (esourcesD T3 0habra %uman (esource and Personnel ManagementD Ashwatha&a

MAGAZINES? .ndia Toda! Business Eorld Business 4conomics

REFERENCE
Ba7a7allian8.co.inGweb siteH www.google.co.in