hrm in tata aig

Role of Human ResourceIN Human Resource Management

By- Naynesh Desai 02Faheem Gire 10 Preeti Parab 30Shraddha Sawant 49Sai Joshi 56Koyal Shedge 71

Rukhsar Faruqui 91

IN TATA AIG LIFE INSURANCE

Human resource management is a function of management concern with hiring, motivating and maintaining people an organization.

It focuses on people in the organization. Human Resource Management includes: Recruiting the right people for the job. Orienting and training. Managing wages and salaries. Providing benefits and incentives. Evaluating performance. Resolving disputes.

What is HRM ?

The human resources management department strategically manage people as business resources.

This includes managing recruiting and hiring employees, coordinating employee benefits and suggesting employee training and development strategies.

HR managers solve many issues related to employees.

Role of HRM in organization

Cost saving. Managing performance. Help companies manage their staff fairly. Help avoid employment issues. Training & development. Recruitment. Employee engagement. Help with reward.

Why we need HR in a company?

Recruitment & selection Motivation Training & development Employee welfare Performance appraisal Compensation Separation Human Resource Information System(HRIS)

HRM involves following contents:

The recruitment and selection process is important for new and established businesses.

Recruitment refers to the overall process of attracting, selecting and appointing suitable candidates for jobs within an organization, either permanent or temporary.

Selection is the process of picking individuals (out of the pool of job applicants) with requisite qualifications and competence to fill jobs in the organization.

Recruitment & selection

Placement Agencies and Consultants

Campus Recruitments Off-campus

Recruitments Internal Job Postings Promotions(existing

employees) Moving across

verticals(existing employees)

Sources of Recruitment

Preliminary interview: This is done to eliminate the candidates who are not found to be appropriate for the job.

Interview: Once the capable candidates are selected amongst all, they are called for a interview.

Selection Decision: The person is analyzed by the manager on the basis of the above stages and is then finally selected for the job.

Selection Procedure

WHAT IS MOTIVATION ?

Motivation is a desire to achieve a goal, combined with the energy to work toward that goals.

Motivation = value of outcome * Expectation of achieving it.

Motivation

Providing Incentives

Recognition to employees

Providing sponsored holidays for employees and their family

Motivation in TATA AIG

Friday Movie Mania Recharge zone Sports Club Annual Theme Party Celebration Week Town Hall World of Work(WOW)

Special Motivational Programs

Training: The act of increasing the skills of an employee for doing a particular job, and thus it’s a process of learning a sequence of programmed behavior to do that particular job.

Development: It refers broadly to the nature and direction of change induced in employees, through the process of training and educative process.

Training and Development

Training Company conducts on-the-job training(OJT)

programs for its employees.

Functional programs- for expertise in respective domain.

Talent Acceleration programs- improving soft skills

Duration: Monthly or Quarterly or Weekly depending upon product and requirement.

E-learning courses

Career progression programs.

Leadership Development ladder.

Development

Welfare means the physical, mental, moral and emotional well-being of an individual.

Employee welfare is concerned with the welfare facilities provided by an organization to its employees.

It is done for the comfort of employees and is provided apart from wages.

Employee welfare

It improves the loyalty and morale of the employee.

Helps to improve the goodwill and public image of the enterprise.

It helps to improve industrial relation and industrial peace.

It helps to improve employee productivity.

Objectives of employee welfare in TATA AIG

Employee welfare in TATA AIG Welfare facilities can be broadly classified into two

groups: 1. These are provided within the organization :-› Canteen› Rest room

2. These are provided outside the organization:-› Leave travel facilities

Performance Appraisal is the systematic evaluation of the performance of employees and to understand the abilities of a person for further growth and development.

Performance appraisal is generally done in systematic ways which are as follows:› The supervisors measure the pay of employees

and compare it with targets and plans.› The supervisor analyses the factors behind work

performances of employees.› The employers are in position to guide the

employees for a better performance.

Performance appraisal

The checklist method is a behaviorally based approach to performance appraisal that requires raters to observe rater’s behavior and record performance related judgments about these ‐behaviors.

In this approach to performance appraisal, a list of job relevant behaviors is developed. ‐

Raters are asked to record (a) whether or not each behavior has been performed by the rater or (b) the degree to which each item describes the person being evaluated.

Several important characteristics of the checklist can help us to appreciate this method.

Performance Appraisal done in TATA AIG

Examples

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Compensation is the reward earned by employees.

Basic- 30% of annual salary Bonus(yearly): is given to the employee

yearly basis for some occasion like Diwali so that employee performance is increase.

HRA: house rent allowance is provided by company to employee if the employee is away from his home, so that travelling distance from his place to organization decrease.

Compensation

Medical Allowance: Organization give medical allowance. If employee hurt due to any medical then immediately medical provided to him.

Other Allowance(Food, mobile phone bills, etc.): Company provide other allowance like lunch mobile bill if he is using phone calls for company etc.

Mediclaim: Mediclaim policy covers benefits if one suffer illness/disease or constrict injury through accident either in India or foreign, if this occurred then organization provide all cost of repair.

Superannuation: These savings are one of the most tax effective ways of saving for the long time.

Incentive: Incentive depends on employee if employee achieve target within given period and work for company then they provide bonus.

Performance bonus: Organization give bonus salary or reward so that the performance of employee improve.

Benefits Apart From Salary

Separation occurs when an employee leaves the organization.

Separations can be either voluntary or involuntary.

The entire separation process should be handled smoothly without separating employees feeling harassed.

Employee separation needs to be handled with sensitivity, discretion and speed so that exit can happens smoothly and on good terms.

Separation

Types of separation

Voluntary separation: Resignation/Quits Retirements

Involuntary separation: Dismissal or Discharge Layoff Retrenchment VRS Downsizing

It is an intersection between HRM and IT.

It is a tool used to access HR-related information and perform functions like acquiring, storing, manipulating, analysing and retrieving information.

It helps HR managers perform HR functions in a more effective and systematic way using technology.

Human Resource Information System(HRIS)

Advantages & Disadvantages

Advantages Disadvantages

Faster information processHuman error during information input

Greater information accuracyCostly technology to update your system

Automated reminders: Systems can schedule events, such as performance appraisals and benefit deadlines Specialized Knowledge

Benefits administration. This could include enrollment, notices, changes, and reporting. Fear of loss of confidential data

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