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HRP, RECRUITMENT

AND SELECTION
IN FINANCIAL SECTOR

FUTURE GENERALI LIFE INSURANCE


LTD.
HUMAN RESOURCE
PLANNING
HRP PROCESS
 At the beginning of the year the HR sits and
decides to identify the needed manpower of
the company. It comprises of :
 DATA COLLECTION
 WORKFORCE ANALYSIS
 INVENTORY BUILDING
 GAP ANALYSIS
 FORMULATION OF HR PLANS
DATA ANALYSIS
The HR collects the data regarding the current
manpower situation across the North zone.
Data is collected regarding who is employed at what
level and the individuals skill level.

WORKFORCE ANALYSIS
The strength of the current workforce will not remain
the same as employees can be lost due to:
Death
Resignation
Dismissal
Retirement
Promotion
Transfer
A note is made of all the employees who are coming
up for retirement , promotion or transfer.
INVENTORY BUILDING
 After the analysis is done a record is made of all the
available employees and the what skills they posses.
 This gives the HR a fair idea of available employees
and their skill set.

Once the inventory is build it gives the HR a good


GAP ANALYSIS

understanding of how the workforce is spread and


what is the current level of the employee skillset.
 Hence it helps identify the VACANT POSITIONS and the
employees who are lacking in some skills that are
required for the effective and efficient performance of
their job hence identifying the SKILL GAP.
FORMULATION OF HR PLANS
Once the gaps are identified the HR
moves on to formulate the plans to fill the
gap that are present.
GAP IN SKILL SET: The gap in skill set
can be filled through training so the HR
identifies the gap and recommends the
names of the respective employees for
the required training
GAP IN MANPOWER: To fill the gap the
HR either-
1.Hires fresh talent (external recruitment)
2.Fills position by promotions or transfers
(internal recruitment)
Better recruitment and selection strategies result in
improved
organizational outcomes. The more effectively
organizations recruit
and select candidates, the more likely they are to
hire and retain
satisfied employees.
RECRUITMENT
Company tailor its recruitment strategies to the
specific positions they are seeking to fill. These
strategies might differ depending on the level of
the position. Different strategies are used to recruit
for two types of
positions: managerial/professional and non
management.

RECRUITMENT PRACTICE

Company use decentralized recruitment practice


for non management position. Recruitment is done
at the office level
For the management post recruitment is done at
head office that is centralized practice.
RECRUITMENT SOURCES
Company fill positions with external candidates
more often than internal candidates.
Although internal candidates typically stay in
positions and are more successful than external
candidates, organizations fill positions with external
candidates, on average, 13 percent more
often than internal candidates.
44 percent of positions are filled with internal
candidates, with an approximate success rate
(people who stay in the positions and are successful)
of 86 percent.
57 percent of positions are filled with external
candidates, with an approximate success rate of 78
percent.
RECRUITMENT METHODS
The Internet is the most popular advertising medium to
recruit for managerial/ professional positions.
The Internet allows organizations to reach a large number of
candidates easily and efficiently. Although the World Wide Web is
becoming the hot new recruiting tool, traditional methods, such
as newspaper advertising, are not yet obsolete. Local newspapers
are the preferred advertising medium for non-management
positions, and national newspapers are widely used to recruit
managerial/professional candidates.

Company utilize internal resources when recruiting both


internal and external candidates.
Company use internal job postings and employee referrals to
recruit candidates
for both managerial and non-managerial positions. company also
place job postings on their company web site to attract
candidates. These are relatively easy, inexpensive ways to
identify candidates both inside and outside the company. Internal
job-posting programs are also an excellent method of providing
promotion opportunities for employees and minimizing employee
complaints of unfair treatment and discrimination.
Different kinds of agencies are used to recruit for
positions at different levels.
Company regularly use both temporary and government
agencies to recruit non-management candidates. These kinds of
agencies typically provide listings of individuals who have
general, applicable skills and backgrounds for nonmanagerial
work. When company look for candidates with specialized skills,
abilities, or knowledge to fill managerial/professional jobs, it
uses employment agencies ,colleges, and professional
organizations.
SELECTION
Selection
The process of choosing individuals who have
needed qualities to fill jobs in an organization.
Organizations need qualified employees to
succeed
“Good training will not make up for bad
selection.”
“Hire hard, manage easy.”
SELECTION PROCESS AT
FUTURE GENERALI
THANK YOU

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