copy of copy of copy of mba iv

130

Click here to load reader

Upload: ashwani-sharma

Post on 08-Nov-2014

34 views

Category:

Documents


2 download

TRANSCRIPT

Page 1: Copy of Copy of Copy of Mba IV

PART 1

BACKGROUND AND INTRODUCTION

1

Page 2: Copy of Copy of Copy of Mba IV

CHAPTER 1

BACKGROUND AND INTRODUCTION

1.1 BACKGROUND AND PERSENT STATUS OF THE COMPANY

The paid up capital of Rs. 807 crore. The insurance agents employed atfuture generali Life

Insurance Co Ltd are trained in-house with a rigorous training program of over 152 hrs, much

higher than the standard 100 hrs of mandatory training laid down by the IRDA. Around

345future generali Agent Advisors qualified for Million Dollar Round table (MDRT)

membership in 2006. It is an internationally renowned congregation of world's top insurance

agents.

Aboutfuture generali India Limited

Future generali Limited is a multi-business corporate, focused on the Knowledge, People, and

Service oriented businesses of Healthcare, Life Insurance, and Information Technology. Future

gererali also has business interests in Clinical Research, Telecom, Electronic Component

distribution, Bulk Pharmaceuticals, and Speciality Products businesses.

Future generali India is led by a skilled team of professional managers and is widely

acknowledged for its presence in commercially viable manufacturing and service delivery

businesses.future generali has been able to form and strengthen international alliances

2

Page 3: Copy of Copy of Copy of Mba IV

evaluating client needs rather than just selling. They are professionals who will thoroughly

understand client needs before recommending the policy tailored to fit their unique needs.

1. They endeavourer to offer the best products with Flexibility as their cornerstone, so the

customer can buy just what he needs. With their various Products and Riders & Options,

the customer has more than 200 product combinations to choose from.

2. They would like Transparency to be the bedrock of the way they do business. This is

why they customize a Personal Insurance Plan, which gives the customer a broad

overview of the details of his policy along with a year-on-year summary, even before he

buys. And with the free look option the client even has the unconditional right to return

the policy, if he so wishes, within 10 days of receiving it.

3. They offer multiple bonus options, which includes options such as annual bonus, bonus

accumulated and paid on maturity, bonus used to offset premiums, bonus utilized to buy

Paid up additions and bonus used to buy one-year term insurance. So the customer can

decide how he wants to use his bonus payments.

4. They take their social responsibility seriously. Every policy sold by them benefits a

needy child at SOS Children's Villages of India. They also provide life insurance to the

rural and socially underprivileged.

5. They have a national presence with a network in the 9 cities of Delhi, Mumbai, Kolkata,

Chennai, Bangalore, Hyderabad, Ahmedabad, Pune and Chandigarh.

3

Page 4: Copy of Copy of Copy of Mba IV

1.2 HR MANAGEMENT

Management of HR is known as a human resource management, it is the part of

management process which deals with the management of HR. the personnel management

is concerned with the human problem of an organization so that individual can make their

maximum contribution to accomplishment of common goals and at the same time attain

social satisfaction.

1.3 OBJECTIVES OF THE STUDY

1. To develop an understanding of H.R department and role of HR at future

generali life insurance india pvt ltd.

2. To know the respondents view point on organization structure (HR Deptt)

and role of HR manager

1.4 LIMITATIONS

Every scientific study has certain limitations and the present study is no more exception.

These are:-

1-Confidentially of the management is the strongest hindrance to the collection of data and

scientific analysis of the study.

2-Respondents were found hesitant in revealing opinion about supervisors and

management.

3-The respondents were unwilling to fill up the questionnaires.

In spite of all these limitations, the investigator has made a humble attempt to present an

analytical picture of the study with some suggestion for the long run implementation.

4

Page 5: Copy of Copy of Copy of Mba IV

1.5 RESEARCH METHODOLOGY

The researcher approached the company has study the functioning of HR dett and role of HR

managers .for the collection of primary data the researcher has used questionnaire as a tool ,the

collected data was than tabulated and analyzed with the help of the percentage method and Ms

Excel package. Which is than presented and interpreted to drive findings and recommend

suggestions.

5

Page 6: Copy of Copy of Copy of Mba IV

PART II

LITERATURE RIVIEW

6

Page 7: Copy of Copy of Copy of Mba IV

CHAPTER 2

FUTURE GENERALI LIFE INSURANCE PVT. LTD.

2.1 INTRODUCTION.

Future generali Life Insurance Company Ltd

future generali Life Insurance Company is a joint venture betweenfuture generali Life

International Inc., a Fortune 100 company and America's largest life insurance provider and FG

India Limited one of the leading multi-business corporations in India.future generali life

Insurance Co Ltd is a Rs. 250 crore joint venture

future generali INDIA

Company Profile

Future Generali is a joint venture between the India-based Future Group and the

Italy-based Generali Group.future generali is present in India in both the Life and

Non-Life businesses asfuture generali India Life Insurance Co. Ltd. andfuture

generali India Insurance Co. Ltd.

Future Group

Future Group , led by Mr. Kishore Biyani, is positioned to cater to the entire

Indian consumption space. The Future Group operates through six verticals: Future

Retail (encompassing all lines of retail business), Future Capital (financial

7

Page 8: Copy of Copy of Copy of Mba IV

products and services), Future Brands (all brands owned or managed by group

companies), Future Space (management of retail real estate), Future Logistics

(management of supply chain and distribution) and Future Media (development

and management of retail media spaces).

The group’s flagship enterprise, Pantaloon Retail, is India’s leading retail

company with presence in food, fashion and footwear, home solutions and

consumer electronics, books and music, health, wellness and beauty, general

merchandise, communication products, E-tailing and leisure and entertainment.

The company owns and manages multiple retail formats catering to a wide cross-

section of the Indian society and its width and depth of merchandise helps it

capture almost the entire consumption basket of the Indian consumer.

Headquartered in Mumbai (Bombay), the company operates through 4 million

square feet of retail space, has over 150 stores across 35 cities in India and

employs over 15,000 people. The company’s revenues for FY 05-06 were Rs.

2017 crore

Generali Group

Established in Trieste on December 26, 1831, Generali is an international group

present in more than 40 countries with insurance companies and companies mostly

operating in the financial and real estate sectors. Over the years, the Generali

8

Page 9: Copy of Copy of Copy of Mba IV

Group has reconstructed a significant presence in Central Eastern Europe and has

started to develop

MEANING OF INSURANCE

Insurance in its basic form is defined as “ A contract between two parties whereby one party

called insurer undertakes in exchange for a fixed sum called premiums, to pay the other party

called insured a fixed amount of money on the happening of a certain event."

In simple terms it is a contract between the person who buys Insurance and an Insurance

company who sold the Policy. By entering into contract the Insurance Company agrees to pay

the Policy holder or his family members a predetermined sum of money in case of any

unfortunate event for a predetermined fixed sum payable, which is in normal term called

Insurance Premiums.

Insurance is basically a protection against a financial loss, which can arise on the happening of

an unexpected event. Insurance companies collect premiums to provide for this protection. By

paying a very small sum of money a person can safeguard himself and his family financially

from an unfortunate event.

For Example if a person buys a Life Insurance Policy by paying a premium to the Insurance

Company, the family members of insured person receive a fixed compensation in case of any

unfortunate event like death.

9

Page 10: Copy of Copy of Copy of Mba IV

LIFE INSURANCE(LONG-TERM)

GENRAL INSURANCE(NON-LIFE INS.)

TYPES OF INSURANCE

10

Page 11: Copy of Copy of Copy of Mba IV

Insurance provides compensation to a person for an anticipated loss to his life, business or an

asset. Insurance is broadly classified into two parts covering different types of risks:

1. Long-term (Life Insurance)

2. General Insurance (Non-life Insurance)

11

Page 12: Copy of Copy of Copy of Mba IV

WHOLE LIFEASSURANCE

ENDOWMENTASSURANCE

CHILDREN’SASSURANCE

TERMASSURANCE

ANNUTIES

MONEY BACK POLICY

Long-term Insurance

Long term insurance is so called because it is meant for a long-term period which may stretch to

several years or whole life-time of the insured. Long-term insurance covers all life insurance

policies. Insurance against risk to one's life is covered under ordinary life assurance. Ordinary

life assurance can be further classified into following types:

TYPES OF LIFE INSURANCE

12

Page 13: Copy of Copy of Copy of Mba IV

FIRE INSURANCE

HEALTH INSURANCE

MOTOR INSURANCE

MONEY INSURANCE

MARINA INSURANCE

MISSLANIOUS

GENRAL INSURANCE

Also known as non-life insurance, general insurance is normally meant for a short-term period of

twelve months or less. Recently, longer-term insurance agreements have made an entry into the

business of general insurance but their term does not exceed five years. General insurance can be

classified as follows:

TYPES OF GENRAL INSURANCE

13

Page 14: Copy of Copy of Copy of Mba IV

MENANING OF LIFE INSURANCE

Life insurance is a contract providing for a payment of sum of money to the person assured or,

failing him, to the person entitled to receive the same, on the happening of a certain event.

A family is generally dependent for its food, clothing and shelter on the income brought by the

family’s breadwinner. The family is secure so long as this breadwinner is alive and is capable of

earning his income. A sudden death (or inability) may leave this family in a financially difficult

situation. Uncertainty of death is inherent in human life. This uncernity makes it necessary to

have some protection against the financial loss raising from death. And life insurance exactly

offers this kind of protection.

Key Benefits of Life Insurance

Life insurance, especially tailored to meet financial needs.

Need for Life Insurance

Today, there is no shortage of investment options for a person to choose from. Modern day

investment include gold, property, fixed income statements, mutual funds and of course, life

insurance. Given the plethora of choices, it becomes imperative to make the right choice when

investing your hard-earned money. Life insurance is a unique investment that helps you to meet

your dual needs – saving for life’s important goals, and protecting your assets. That helps you to

meet your dual needs – saving for life’s important goals, and protecting your assets.

Let us look at these unique benefits of life insurance in details.

Assets Protection

14

Page 15: Copy of Copy of Copy of Mba IV

From an investor’s point of view, an investment can play two roles- assets appreciation or assets

protection. While most financial instruments have the underlying benefits of assets appreciation,

life insurance is unique in that it gives the customer the reassurance of asset protection, along

with a strong element of assets appreciation.

The core benefit of life insurance is that the financial interests of one’s family remain protected

from circumstances such as loss of income due to critical illness or death of the policyholder.

Simultaneously, insurance products also have a strong inbuilt wealth creation proposition. The

customer therefore benefits on two counts and insurance occupies a unique space in the

landscape of investment options available to a customer.

Goal based saving

Each of us has some goals in life for which we need to save. For a young, newly married couple,

it could be buying a house. Once, they decide to start a family, the goal changes to planning for

the education or marriage of their children. As one grows older, planning for one’s retirement

will begin to take precedence.

Clearly, as your life stages and therefore your financial goals change, the instrument in which

you invest should offer corresponding benefits pertinent to the new life stage.

Life insurance is not only a investment option that offers specific products tailor made for

different life stages. It thus ensures that the benefits offered to the customer reflect the needs of

15

Page 16: Copy of Copy of Copy of Mba IV

customer at the particular life stage, and hence ensures that the financial goals of that life stage

are met.

The table below gives a general guide to the plans that are appropriate for different life stages.

Life Stages Primary Need Life Insurance Products

Young &Single Assets Creation Wealth Creation Plans

Young&Just Married Assets Creation

&Protection

Wealth Creation &

mortgage protection plans

Married with kids Children’s education,

Asset creation and

protection

Education insurance.

Mortgage protection

&wealth creation plans

Middle aged with

grown up kids

Planning for retirement

& asset protection

Retirement solutions &

mortgage protection

Across all life-stages Health plans Health insurance

16

Page 17: Copy of Copy of Copy of Mba IV

Insurance Sector Reforms

In 1993, Malhotra Committee – headed by former Finance Secretary and RBI Governor R.N.

Malhotra- was formed to evaluate the Indian insurance industry and recommend its future

direction. The Malhotra committee was set up with the objective of complementing the reforms

initiated in the financial sector.

The reforms were aimed at creating a more efficient and competitive financial system suitable

for the requirement of the economy keeping in mind the structure changes currently underway

and recognized that insurance is an important part of the overall financial system where it was

necessary to address the need for similar reforms. In 1994, the committee submitted the report

and some of the key recommendations included.

Structure

Government stake in the insurance companies to be brought down to 50%. Government should

take over the holding of GIC and its subsidiaries so that these subsidiaries can act as independent

corporations. All the insurance companies should be given greater freedom to operate.

Competition

Private companies with a minimum paid up capital of Rs. 1bn should be allowed to enter the

sector. No company should deal in both Life and General Insurance through a single entity.

Foreign companies may be allowed to enter the industry in collaboration with the domestic

companies.

Postal Life Insurance should be allowed to operate the rural market. Only one State Level Life

Insurance Company should be allowed to operate in each state.

17

Page 18: Copy of Copy of Copy of Mba IV

Regulatory Body

The Insurance Act should be changed. An Insurance Regulatory body should be set

up. Controller of insurance – a part of Finance Ministry – should be made

independent.

Investments

Mandatory Investment of LIC Life Fund in government securities to be reduced from 75% to

50%. GIC and its subsidiaries are not to hold more than 5% in any company (there current

holding to be brought down to this level over a period of time).

PRODUCTS OFfuture generali

INDIVIDUAL -

Future Care

Future Assure

INSTAlife

Future Pension Plan

Future Pension Advantage Plan

Future Sanjeevani

Future Guarantee Plan

18

Page 19: Copy of Copy of Copy of Mba IV

Future Child Benefit Plan

Future Anand Plan

Riders

GROUP-

Group Term Life

Future Generali Group Credit Suraksha

Future Generali Group Gratuity Plan

OBJECTIVE OF THE COMPANY

To provide superior customer service through our knowledge-based business

partners and employees supported by innovative products and services.

CORE TEAM MEMBERS

MR. G. N. Bajpai

Chairman

Dr. Kim Chai Ooi

19

Page 20: Copy of Copy of Copy of Mba IV

Country Manager future generali

IMPORTANCE OFfuture generali AS AN ORGANIZATION

In an organization every employee is valuable and it is an employers responsibility to shoulder

some of their responsibilities they worry the most - savings and security of their loved ones.

Gratuity can act as a powerful tool to reward loyal employees and retain existing employees as

well. Gratuity payment is a statutory liability for an organization and tends to increase as the

salaries and tenure of employment increase annually. Employees who are employed in an

organization for at least 5 years can enjoy Gratuity. As an employer you can structure the

gratuity benefit in such a way that it is higher than the statutory requirements.

Future generali has made the Group Insurance portfolio more robust by launching the Unit

Linked Gratuity Plan. The Unit Linked Group Gratuity Plan facilitates steady funding and the

opportunity of increased returns on investment. It also has one of the most transparent charge

structures in the market currently and the fund management charges are extremely competitive.

Non-unit Linked or Traditional Group Gratuity Plan: which facilitates systematic and

steady funding of the liability?

20

Page 21: Copy of Copy of Copy of Mba IV

Unit Linked Group Gratuity Plan: which facilitates steady funding and the opportunity of

Increased returns on investment.

21

Page 22: Copy of Copy of Copy of Mba IV

22

Page 23: Copy of Copy of Copy of Mba IV

23

Page 24: Copy of Copy of Copy of Mba IV

24

Page 25: Copy of Copy of Copy of Mba IV

INDIVIDUAL INSURANCE

Protection Plans:

Whole Life

Level Term

Five Year Term R & C

Life Partner Plus

Savings:

o Life Gain Endowment

o Life Pay Money Back

o Life Gain Plus 20

o Life Gain Plus 25

o 20-Year Endowment

Unit Linked:

o Life Maker Premium

o Life Maker Gold

o Life Maker Platinum

o Life Maker Pension

o Life Invest

25

Page 26: Copy of Copy of Copy of Mba IV

GROUP INSURANCE

o Group Term Life

o Group Gratuity

o Employee Deposit Linked Insurance

o Credit Shield

o Unit Linked Group Gratuity

o Unit Linked Group Superannuation

RURAL INSURANCE

o Future Suraksha

o Easy Term

o Future Mangal Endowment

o Future Vriksha Money Back

FUTURE AMSURE

o Future Amsure Bonus Builder

o Future Amsure Business Builder

o Future Amsure Money Back

o Future Amsure Future Builder

o Future Amsure Secure Returns Builder

NAV

26

Page 27: Copy of Copy of Copy of Mba IV

Life Maker Investment Plan

Life Maker Pension Plan

Life Maker Premium

Smart Steps

Group Gratuity

Group Superannuation

Max Amsure Secure Returns Builder

OTHER PRODUCTS

Banc assurance Super Saver Bond

Mutual Fund

Besides the above-mentioned products and services also find insurance calculator, retirement

calculator, premium calculator and a plan finder that helps you decide the product best suited to

your needs on thefuture generali Insurance India Website. For long term care insurance, come

tofuture generali India and rest assured.

Many insurance companies provide medical insurance, general insurance, premium insurance,

company insurance and group insurance policies. But the qualities of a true leader shine out. The

annual report offuture generali Insurance Co. shows that they have achieved this by their sheer

dedication to their customers and the hard work of their insurance agents. The insurance plans

are well customized after understanding the needs of each customer by the insurance agent and

full assistance is ensured for the insurance claims.

27

Page 28: Copy of Copy of Copy of Mba IV

FITS

Bonus Option:

If you own a Participating Policy, which entitles you to get Bonuses, you get a choice of options

on how you would want it paid to you:

Annual Bonus payment.

Bonus accumulated and paid on maturity.

Bonus used to off set Premiums.

Bonus used to buy one-year term Insurance.

Bonus used to buy paid - up additions.

28

Page 29: Copy of Copy of Copy of Mba IV

PRIVATE PLAYERS OF INSURANCE SECTOR

Bajaj Allianze Life Insurance

AMP Sanmer Life Insurance

Birla Sun Life Insurance

Future generali Life Insurance

HDFC Life Insurance

ICICI Prudential Life Insurance

Mellife India Insurance

Future generali Insurance

Reliance Life Insurance

Shiram Life Insurance

Tata AIG Life Insurance

SBI Life Insurance

Bharti AXA Life Insurance

ING Vysyv Life Insurance

Shara Life Insurance

Kotak Mahindra Life Insurance

Genral Insurance Corporation Of India

Royal Sundaram Insurance

29

Page 30: Copy of Copy of Copy of Mba IV

Canara HSBC OBC Life Insurance

30

Page 31: Copy of Copy of Copy of Mba IV

‘SWOT’ ANALYSIS OF FUTURE GENERALI LIFE

INSURANCE COMPANY LIMITED

STRENGTHS:

a) Impeccable brand name offuture generali Life Insurance.

b) Sound financial and infrastructure backup.

c) Real urge to become the leader in the market.

WEAKNESSES:

a) Unawareness among the people aboutfuture generali Life Insurance.

b) Recent split in the top management may have a bad impact on the general people who

believe in family bodings even in business matters.

c) As they have recently come to the insurance sector, not aware of the pros and cons of the

sector.

OPPORTUNITIES:

a) Many people now days are being aware of the benefits of insurance, so there is a vast

market to target by the company.

b) Any Life Insurance Policy does still not cover 80% of the total population in India, so

there is a vast market that can be tapped byfuture generali.

31

Page 32: Copy of Copy of Copy of Mba IV

THREATS:

a) ost of the people still believe on public players like LIC, so it is very hard to shift those

customers from LIC to other companies likefuture generali.

b) The number of players in the private insurance sector is increasing day by day,so the

competition is getting tough.

c) . The failure in one of the fields of FMG may affect adversely the business opportunities

offuture generali.

2.2 HR Department infuture generali

HUMAN RESOURCE DEPARTMENT IN ORGANISATION

32

Unit Head

Deputy Manager-HR

Additional General Manager-Corporate HR & IR

Senior

Executive - HR

Assistant HR Officer

Supervisor-Administration

Security

Housekeeping

General Administration

Executive Assistant-HR

Page 33: Copy of Copy of Copy of Mba IV

FUTURE GENERALI is a large organization and presently has a employee strength of

about 1.57 lacs. This includes executives and non-executives. Since inception of future

generali the need of Personnel Deptt. Were felt and all units of future generali having a

separate department for management of its manpower? This deptt. is responsible for all

aspects of man management. future generali being a unit of future generali has a

personnel and administration department since inception.

The role and functions of Personnel Department remains similar all over future generali.

The policy and procedures of future generali are uniformly applied. However, on same

instances the functions of personnel department differ from unit to unit. This difference

is dependent upon the nature of the job of respective unit of future generali.

P&A departments of all units of future generali perform a service & support function.

Their role is more of advisory to the line function. They act as facilitators and advisors of

different major functionaries in the organization. Personnel department is responsible to

formulate policies and procedures related to man management. These policies basically

guide the functioning of personnel deptt. The implementation of these policies is also

responsibility of personnel deptt. Personnel department basically caters to all needs of

its unit with regard to its Human resources. Its role starts from assessment of manpower

requirements, their recruitment, utilization and their separations from the company.

Maintenance of conducive environment for effective utilization of human resources is

the responsibility of this department. It is this department which is held responsible for

peaceful industrial relations. Adherence to statutes related to labor is the responsibility

of this department. This department also performs certain general administrative

33

Page 34: Copy of Copy of Copy of Mba IV

functions such security management, office administrations, liaison with various

agencies outside the organization etc

.ORGANISATION STRUCTURE OF FUTURE GENERALI

34

Page 35: Copy of Copy of Copy of Mba IV

2.3 ROLE OF HR MANAGER AT FUTURE

GENERALI

Manpower planning

Recruitment

Training & Development

Employee services

Establishment i.e. implementation of policies and procedures

related to service conditions

Appraisal

Motivation & Incentives

Growth of employees

Records management

Wage administration

Employee welfare

Separation

Industrial relations

Grievance handling

Workers participation in management

Statutory obligations

35

Page 36: Copy of Copy of Copy of Mba IV

Office communication

CHAPTER 3

HUMAN RESOURCE MANAGEMENT

3.1 HUMAN RESOURCE DEPTT IN FUTURE

GENERALI

Future generali is a large organization and presently has a employee strength of about

1.57 lacs. This includes executives and non-executives. Since inception offuture

generali the need of Personnel Deptt. Were felt and all units of future generali having a

separate department for management of its manpower? This deptt. is responsible for all

aspects of man management. future generali being a unit of future generali has a

personnel and administration department since inception.

The role and functions of Personnel Department remains similar all over future generali.

The policy and procedures of future generali are uniformly applied. However, on same

instances the functions of personnel department differ from unit to unit. This difference

is dependent upon the nature of the job of respective unit of future generali.

P&A departments of all units of future generali perform a service & support function.

Their role is more of advisory to the line function. They act as facilitators and advisors of

different major functionaries in the organization. Personnel department is responsible to

formulate policies and procedures related to man management. These policies basically

guide the functioning of personnel deptt. The implementation of these policies is also

responsibility of personnel deptt. Personnel department basically caters to all needs of

36

Page 37: Copy of Copy of Copy of Mba IV

its unit with regard to its Human resources. Its role starts from assessment of manpower

requirements, their recruitment, utilization and their separations from the company.

Maintenance of conducive environment for effective utilization of human resources is

the responsibility of this department. It is this department which is held responsible for

peaceful industrial relations. Adherence to statutes related to labor is the responsibility

of this department. This department also performs certain general administrative

functions such security management, office administrations, liaison with various

agencies outside the organization etc.

If one looks in detail to its functions, it can be broadly categories in the following.

Role of HRM

Service & support functions, advisory role

Formulation of policies and procedures related to man management

Implements the policies and monitors their effectiveness

Ensures conductive environment for better relation between employees an

management. Hence responsible for maintain peaceful and conducive IR section

Ensures adherence to statutory provision/ law of land related to labour.

Responsible for needs of manpower planning to separation from company

Performs administrative functions like security, office administrations

Manpower Planning

FUTURE GENERALI has a proper manpower planning system in place since very

beginning. During the days of inception offuture generali plants proper IED study was

37

Page 38: Copy of Copy of Copy of Mba IV

done and accordingly manpower planning was done. But later it was found thatfuture

generali has excess manpower compared to industrial standards. Hence a

comprehensive manpower planning policy was made which envisaged for reduction of

manpower. This policy tried to make a balance between company needs and welfare of

employees and the society in general.future generali started to reduce the number of

intake and allowed the separations to take place. Schemes like Voluntary retirement,

sabbatical leave where introduced. This resulted into considerable reduction in

manpower. The need for fresh recruitments has been reduced partly because help of

new technology was taken.

The detailed procedure for manpower is given below:-

Recruitment

At present, no recruitment for non-executives is done atfuture generali. The recruitment

of executives is done centrally by corporate office and then the recruited executives are

placed in respective units as per the requirement. But very few recruitments are taking

place in executive’s grade also. However, in units some recruitment of fresh critical

category non-executives is taking place, so as to maintain the availability of trained

manpower.

The policy for recruitment, which is followed by all units offuture generali, identifies two

sources of recruitment i.e. (i) Internal (ii) External

(i) Internal: In this category recruitment is done by identifying persons suitable

for particular post within unit or in other units, through internal circulation of

posts.

38

Page 39: Copy of Copy of Copy of Mba IV

(ii) External: Recruitments are done from open market through employment

exchange, advertisement in press, and from institutes of repute through

campus recruitment or through direct negotiations.

For all types of recruitments merit is the sole criteria. But good guidelines for

reservations to SC/ST/OBC etc. are followed.

There are different methodologies for recruitment in different levels. For intake in

executive grade all India level exams are conducted. The successful candidates are

then called for group discussions and interview. Then the successful candidates are

recruited.

Authority for appointment is well defined according to levels of recruitment. For

recruitment in grades of E6 and above chairmanfuture generali is authorized .For all

other recruitments, except for centrally by corporate office Director (Personnel) has

the authority to appoint.

Appointment procedures are mentioned as above. It varies as per the level of

recruitment.

Salary fixation is done as per the existing wage structure in the company .The new

entrant is given the salary structure corresponding to his grade of entry.The details

of wage structure are discussed ahead.

The entry into executive cadre is a trainee in technical stream and managerial

stream. Only executive for finance deptt. are not taken as trainee. The technical

stream trainees are called management trainee (administration).In both these

categories a comprehensive one year training is given before they are confirmed as

39

Page 40: Copy of Copy of Copy of Mba IV

junior mgrs. In non executive category also ITI qualified and Diploma holders are

taken as trainees. After successful completion of training they are regularized in their

respective grades.

FUTURE GENERALI has well identified levels of entry into the company. Executive

recruitment is done in broadly four levels:-

(i) Management Trainees in E-I grades

(ii) Junior Managers in E-I grades

(iii) Medical Officers in E-I grades

(iv) Senior specialists in E3 A/E-4 grades.

Non executive recruitment is done in broadly four

levels:-

(i) Semi skilled personnel in L-1 grade

(ii) Skilled personnel in L-3 grade

(iii) Highly skilled personnel in L-6 grade

(iv) Ministerial personnel in ML-1/ L-3 grade

Recruitment sources are identified above. No recruitment is done for Wards /

Sons of employees except in cases of accidental deaths.

Written test, group discussions, interviews, trade test etc. are used as tool for

selection according to the type and level of recruitment.

All the recruits are given a comprehensive induction training of their respective

units.

40

Page 41: Copy of Copy of Copy of Mba IV

3.1 ROLE OF HR MANAGER

41

Page 42: Copy of Copy of Copy of Mba IV

i) To Supervise:

Every manager has to supervise the work of subordinates while the latter are doing their work and offer necessary help. Supervision also needs to be undertaken to ensure that the subordinates do not waste their time during working hours.

(ii) To Attain Targets:

Managers may work under pressure most of the time as they have targets to achieve. This is particularly true in the case of production and sales managers who are the line managers.

(iii) To Delegate Authority:

Managers have to get done things by their subordinates. For this they have to delegate authority to the latter to enable them to perform the tasks assigned. The managers must ensure that the authority delegated is just sufficient to carry out the duties by the subordinates. If authority exceeds responsibility there may be misuse of authority. On the other hand, if authority is inadequate, the subordinates may not be able to carry out the task

v) To Hold Meetings:

Managers, often, may have to hold meetings to put forth their views before their subordinates. Such meetings are also necessary to get feedback information from the subordinates on the progress of their work. Managers of different departments also may have to meet at regular intervals to secure proper co-ordination and to review progress.

(vi) To Act as a Leader:

As a leader, the manager has to set an example to his subordinates. He must be sincere, honest and committed to his work. Only then, he will be able to guide and motivate the subordinates under him.

(vii) To Ensure Proper Use of Resources:

The manager has to ensure that the organizational resources such as men, machines, materials and money are optimally utilized.

(viii) To Resolve Conflicts:

Whenever there are conflicts between the employees over certain organizational matters, the manager is expected to resolve all such conflicts and arrive at an amicable solution.

(ix) To Undertake Trips:

Managers, particularly those in charge of sales, may have to undertake business trips frequently and as a result they may not be able to remain in hometown always. In the same manner, the

42

Page 43: Copy of Copy of Copy of Mba IV

managers cannot work strictly according to the working hours. They may have to work even beyond working hours sometimes in view of a higher quantum of work.

(x) To Make Decisions:

Managers also have to make certain routine decisions in connection with matters pertaining to the daily operations of the business. Purchase of raw materials, payment of wages, sanctioning leave to subordinate staff, etc., are examples of such routine decisions.

(xi) To Handle Crisis:

The manager is also expected to handle crisis that may arise in the organization. Strike-call by the workers, breakdown of machinery, fire accident in the godown or in the workplace are examples of critical situations that may arise in any organization at any time. In such a situation the manager has to act swiftly and wisely and find remedy.

INDUSTRIAL RELATION Meaning

The term industrial relation is used to denote the collective relationship between

management, employees and government in any form of industrial or non-industrial

organization. Individual relationships of workers with their management are thus

excluded from the scope of industrial relations and form part of personnel management.

Industrial Relation infuture generali

Ensuring that the working relationship between management and

employees and the job satisfaction of work opportunities for the company’s

personnel are developed and maintained in the best interests of the

company and its employees.

1.Collective Bargaining: Attaining accord with officially recognized and

legally established employee organizations in the manner best meeting the interests of

the company and its employee.

43

Page 44: Copy of Copy of Copy of Mba IV

a) Negotiate agreements

b) Interpret and administer agreements.

2.Employee Discipline : Developing and maintaining effective work

regulations and creating and promoting harmonious working relationships with

employees:

a) Establish rules and regulations for conduct.

b) Establish and administer disciplinary measures.

3.Personnel Research: Developing ways and means of improving

relationships and the caliber of company personnel.

a) Analyze personnel techniques and problems.

b) Recommend improved practices.

Significance of industrial relations

To help in the economic progress of a country. The problem of an increase in

productivity is essentially the problem of maintaining good industrial relations.

To help in establishing and maintaining true industrial democracy which is a

prerequisite for the establishing of a socialist society.

To help management both in the formulation of industrial democracy which is a

prerequisite for the establishment of a socialist society.

To help management both in the formulation of informed labor relations

policies and in their translation into action.

To encourage collective bargaining as a means of self-regulation.

44

Page 45: Copy of Copy of Copy of Mba IV

To help government in making laws forbidding unfair practices of unions and

employers.

Activities of Industrial Relation & Welfare

department

The Industrial Relation & Welfare Department handles many areas of activities, both

under statutory and non-statutory category. This section probably deals with maximum

number of activities under on umbrella. The list of activities is given below;

Non-Statutory

Group Insurance

Employees Family Benefit Schemes (EFBS)

Death Benefits Schemes (DBS)

FUTURE GENERALI Employee’s Superannuation Benefits Fund (SESBF)

Coordination in providing Medical Facilities to Regulate Employees under the

following categories:

a) Retainer Doctor (b) Homeopathy (c) Ayurvedic

Co-ordination in providing medical facilities to Retired Employees

Mediclaim

Farewell

Long Service Award

Service Dress

Reimbursement of Tuition Fee

45

Page 46: Copy of Copy of Copy of Mba IV

Report on Employees Deposit Linked Insurance (EDLI)-Quarterly and Annual

Report

Scholarship

Finalization of Holidays/Optional Holidays list

Report on ST/SC?OBC

Peripheral Development

Renewal of license under the Factories Act

Testing and Inspection of Equipment under the Factories Act

Renewal of license under the Shops and Establishment Act of

Bihar/Jharkhand

Report on Parliamentary questions

Issues related Employees Union/Association for Steel Executive-

Election ,membership in various committees, tour of Union and ASE

members

Sports Activities

Communal harmony and National Integrity functions

Celebration offuture generali Foundation Day

Liasioning with Govt. Officials

Security

(1) GROUP INSURANCE

Objective: To provide insurance in case of death and permanent

disablement.

Coverage: Rs 1 lakh in case of death or permanent disablement of the member.

46

Page 47: Copy of Copy of Copy of Mba IV

Eligibility: All regular employee offuture generali units at Meerut and who opt

for the scheme.

Scheme: It is an optional scheme. This scheme provides insurance coverage of Rs

1 lakh to its holders. In case of permanent disablement/death, whatever the case may

be the employee/his family members will receive Rs 1 lakh. Under the scheme, Rs 100

per month is deducted from the member’s salary. The policy has to be renewed every

year. Contribution period is 1st January to 31st December. If an employee wants to

withdraw from the policy, he can do so. In that case, he will receive 65% of his

contribution and the interest there on.

(2) EMPLOYEES’ FAMILY BENEFIT SCHEME

Objective: To provide monetary benefit of a respectable amount,

to the family members of a deceased employee, or to

an employee in case of permanent disablement.

Coverage: The last drawn basic and dearness allowance of the

employee.

Eligibility: Minimum one year continuous service in the company

and in case of death or permanent disablement. All

regular employees offuture generali.

47

Page 48: Copy of Copy of Copy of Mba IV

(3)DEATH BENEFIT SCHEME (DBS)

Objective: To provide monetary help to the family members of the deceased

employee.

Coverage: The regular employee who opt for this scheme.

Benefit: After the death of employees, Rs 20 /- is deducted from all the members

of this scheme and the total amount collected is handed-over to the family of the

deceased.

(3)FUTURE GENERALI EMPLOYEES

SUPERANNUATON BENEFIT

FUND (SESBF)

Objective: To provide financial support and security to the employee after

Superannuation. With this objective a fund was created in which 2% of the basic and

dearness allowance by both employee and company has to be deposited. This fund will

be utilized for creating a pension scheme, which may come in future.

(5) MEDICAL FACILITIES

48

Page 49: Copy of Copy of Copy of Mba IV

Objective: To provide medical facilities to the employees and their dependent family

members and the retired employees.

Coverage: The medical facilities are available to the regular employees both outdoor

and indoor along with the dependent family members, consisting of dependent

wife/husband, children, brothers, sisters and parents. However, the retired employees

get outdoors medical facilities only.

Benefit: In case the specialized medical treatment is not available with the

company, the patient may be referred to any outside hospital

concluding company’s hospital at other locations.

Reimbursement of medical expenditure

The Reimbursement of the claims towards cost of medical treatment as

charged by the hospital concerned may be reimbursed in full except

inadmissible items such as diet, tonics etc.

In case of treatment outside the city, the to and fro journey and lodging

expenses towards patient and one attendant is also reimbursed.

The Reimbursement of expenses on medical treatments taken by

employees or his\her wards by a Homeopathy or Ayurved doctor is also

reimbursed.

(6) MEDICLAIM

49

Page 50: Copy of Copy of Copy of Mba IV

Objective: To provide medical benefit to the retired employees offuture generali and

their spouses.

Coverage:

a) Retired employees offuture generali and their spouses.

b) The employees who have taken voluntary retirement and spouse.

c) The employees who are separated from the company because of permanent

disablement.

d) The spouse of an employee who dies in service.

The scheme is optional and those who opt for this scheme will hereinafter referred to as

members.

Scheme: The members are covered under a group insurance policy of insurance

company. United India Insurance Co. Ltd. presently operates them.

Benefits: Medical particular specialized treatment benefit to retired employees and

spouse.

OPD Facilities

The insured person can avail medical facilities in out patient department in government

hospital,future generali HOSPITAL,future generali approved hospital/nursing homes or

the hospital approved by Mediclaim. The limit of reimbursement is Rs 4000/- per

member.

50

Page 51: Copy of Copy of Copy of Mba IV

Indoor Facilities:

Reimbursement of actual charges up to Rs. 85,000/- per member per policy spent on

room, IC unit, nursing expenses, surgeon, anesthesia, medical practioner, consultant,

specialist fees, blood, oxygen, operation theatre charges, surgical appliances,

medicines, and drugs, diagnostics materials-ray, dialysis, chemotherapy, radio therapy,

artificial limbs, and cost of organs and similar other expenses. The limit of Rs 85000 /-

includes domiciliary hospitalization of Rs 11,500 /- per member.

(7) FAREWELL

Objective:The bid farewell to an employee superannuating or voluntarily retiring from

the service of the company.

Coverage: The scheme covers all the regular employee of the company.

Scheme: A function is organized by the company on the last day of the service of the

retiring employee, in which senior officers including the Director/Chief Executive are

present. The contribution of the concerned employee during his service period is

recalled and people present express their feelings and sentiments on the occasions.

The company gives a gift to the retiring employee which isfuture generali made steel

dinner set along with a service certificate. A high tea is organized on the occasion

followed by a group photograph.

(8) LONG SERVICE AWARD

Objective: To recognize the service provided the employee and who

has served the company for 25 years.

51

Page 52: Copy of Copy of Copy of Mba IV

Coverage: Regular employees, who have covered 25 years of un-

interrupted service.

Scheme: Employee, who puts in 25 years of the service in the company, is

conferred with a Long Service Award. This award is given in the form offuture generali

stainless steel dinner set and a certificate. This ceremony is organized during the

Republic Day celebration by the company.

(9) SERVICE DRESS

Objective: To create a feeling of equality amongst the different grades

of employees.

Coverage: All regular employees offuture generali units at Ranchi.

Scheme: The service dress, which was introduced in the year 1988,

provided for shirts, trousers, blazer, woolen pant, shoes and

shocks of the male employees and sarees/ salwar suits,

blouse, sandals to the female employees. This is a highly

subsidized facility. The executives have to bear the 30% of

the cost, whereas the non-executives pay 15% of that

(10) REIMBURSEMENT OF THE TUTION FEE

Objective: To provide free education to the wards of the employees.

Coverage: This scheme covers all the regular employees.

52

Page 53: Copy of Copy of Copy of Mba IV

Benefit: These wards of the employees get the free education in

company run schools i.e. DAV Jawahar Vidya Mandir,

Shyamali and Delhi Public School (DPS). However, the

company bears subsidy on them. In case the children are

studying outside these schools, they get reimbursement of

tuition and examination fees. In addition, the company

reimburses a maximum of Rs. 800/- each ward the

employee in every session to cover miscellaneous

educational expenses.

(11) EMPLOYEE DEPOSIT LINKED INSURANCE

(EDLI)

SCHEME

The company is an exempted organization from EDLI, since it has taken insurance

policy, which is a better scheme. The employee get coverage of the Rs.62,000/-

(12) GRANT OF SCHOLARSHIPS

Objective: To provide encouragement and to facilitate higher education to meritorious

wards of employees.

Coverage: All regular employees.

Amount of scholarship-

Scholarship of Rs 250 per month is granted to the students who join degree courses in

engineering/architecture, medical, veterinary and agricultural sciences.

53

Page 54: Copy of Copy of Copy of Mba IV

1) Scholarship of Rs 200 per month is awarded to the

students, who join postgraduate course in environment management and

pollution control.

2) Scholarship of Rs 150 per month is awarded to students

who joined diploma courses in pure science, social science, commerce business

and personal administration.

Jawahar Lal Nehru Science and Technology Scholarship:

The amount of scholarship is Rs 500/- pe month. Top ten wards of the employee

receive this scholarship for competing in the Joint Entrance Examination for IIT and join

the course (20 % of the scholarship reserved for the SC/ST candidates).

Scholarship for SC/ST Wards:

14 scholarships are given under this head. For joining the engineering courses in Civil,

Electrical, Mechanical, Metallurgical, Mining, Ceramics, Chemical and Computer

Science/Electronics, etc. at any of the Indian Institute of Technologies, Regional

Engineering College, Banaras Hindu University or any of the recognized institutions.

(13) HOLIDAYS

FUTURE GENERALI finalizes the list of closed holidays and optional holidays in

consultation with the employees’ representatives. However, the total number of holidays

and leave remain same thoughtfuture generali. There are 17 closed and 4 optional

holidays provided to the employees in a year.

(14) REPORT ON SC/ST

54

Page 55: Copy of Copy of Copy of Mba IV

FUTURE GENERALI sends the report on SC\ST employees to the corporate office,

which compiles the data thoughtfuture generali and forwards to SC\ST commission.

(15) SPORTS ACTIVITIEES

FUTURE GENERALI conducts various sports activities both for its employees and for

their wards. They include cricket, volleyball, table tennis, football, badminton, carom,

chess, etc. The annual sports meet is also organized. The department also conducts

adventure sports.

( 16) COMPLIANCE UNDER THE SHOPS AND

ESTABLISHMENT ACT

FUTURE GENERALI is registered under the shops and Establishment Act,.1953. The

renewal of the license under this Act is done in the month of November every year. The

renewal fee is Rs100/-

(17) REPORT ON PARLIAMENTARY QUESTION

The IR & welfare group is responsible for collecting and sending the replies of questions

raised by the Hon’ble Members of Parliament to Corporate Office.

(20) PERIPHERAL DEVELOPMENT

FUTURE GENARLI organizes some peripheral development programme in its vicinity,

including village development, education, medical facility, etc.

(21) CELEBRATION OFfuture generali

FOUNDATION DAY

55

Page 56: Copy of Copy of Copy of Mba IV

The foundation day of future generali is celebrated of 24 th January every year, across

the company. A future generali run for 5KM cross country is organized and winners are

distributed the prizes. The employees and their wards participate in this programme.

(22) LIASIONING WITH GOVT. OFFICIALS

It is one of the most important roles of the IR & W activities. The officials of IR&W

maintains good relations with the government officials, such as RPFC,employees

department, companies Office, ESI, Employment Exchange, etc.

(23) SECURITY

This department looks after all the security aspects of future generali Satellite Township,

the bungalows of VIPs.future generali Hanger, etc, the group looks after the fire-fighting

measures at future genarali, they work towards preventive vigilance. They also do the

Liasioning with police officials.

STATUTORy ; Industrial Relation & Welfare section of future generali have

multiple facets of activities. All major activities have been discussed briefly previously.

To give main emphasis on some of the most important aspects, the concentration was

made on the following two activities:

1. Implementation of companies Act.

2. Implementation of Employees State Insurance Act.

56

Page 57: Copy of Copy of Copy of Mba IV

2. IMPLEMENTATION OF EMPLOYEES

STATE

INSURANCE ACT, 1948.

The Employees State Insurance Act, 1948 has been implemented atfuture generali

Though the total emoluments drawn by any of its regular employees, working in this

organization, is above Rs6500/- per month, which is the basic requirement for being

covered, the application of the Act in this organization is mandatory. Atfuture generali

there are many contract labours, whose emoluments are below Rs6500/-. The coverage

of such labour is mandatory under the ESI Act.

Though all the regular employees offuture generali are drawing Rs6500/- and above,

they are not be covered under the ESI Act. In any case, the better facilities compared to

that of ESI exist for the employees. But future generali should take an exemption from

the ESI Act.

However the contractors labour, who are working here are drawing less than Rs6500/-

per month and get the benefit less than that of ESI. Hence these labours are covered

under the Act. Future genarali has the responsibility, as principle Employer, to ensure

compliance under this Act by the concerned contractors.

Inspite of the above fact, the management of future genarali has not been able to force

the concerned contractors to make compliance under the ESI Act. Many efforts have

been made in past and still being done in this direction. Unfortunately, the workmen

concerned themselves do not want to go to ESI. As per them, the facilities provided by

57

Page 58: Copy of Copy of Copy of Mba IV

them are very poor and distantly located. They also fear that once they go there, they

would be out Ispat Hospital facilities, which they were getting earlier. Another reason

they have in their mind that they don not want a separate identity than the future

genarali employees. Whenever any pressure was created on them, they resorted to

agitation path.

The management of future genarali is fully aware of the penal provisions, as also the

accumulation of contribution and interest thereon, which is supported to be deposited

with the ESI authorities.

HR – ACTIVITIES IN FUTURE GENERALI.

OTHER SIGNIFICANT OUTPUT

Future generali pursue several other important activities which , though not

quantifiable(like CAB),make significant contribution to the knowledgebase of the centre.

Notable among these are activities towards technology Dissemination and Operating

committee meetings. Besides these future generali renders valuable technical services

to future generali units from time to time and pursues several generic activities, such as

testing of contributions towards energy and technology management.

CUSTOMER SATISFACTION

58

Page 59: Copy of Copy of Copy of Mba IV

The customer satisfaction level of PPI and ICA projects is determined using an

established m an objectives criteria and is expressed in terms of a dimensionless

parameter,called customer satisfaction index(CSI).The CSI for 2003-04 was 3.7 on a

scale of 4, which is compared with the figures in the previousn two years.

59

Page 60: Copy of Copy of Copy of Mba IV

OrganisationalPriorities

Training needs(I) Individual needs(II) Organisational needs

Prepare annual training plan after consulting with differerent HOD/HOG/HOF

Approval of Head of P&A

Identity Course Co-ordinator

Designing/Redesigning the programme as per objective

Select faculty members

Obtain nomination from HOD/HOG/HOF

Finalise the nomination & issue office order

Organize Infrastructure

Distribute course material & conduct training

Collect feedback

Submit the report to chief

Prouss all payments

STEPS FOR ORGANISING IN-HOUSE TRAINING OF

EMPLOYEES

60

Page 61: Copy of Copy of Copy of Mba IV

STEPS FOR ORGANISING EXTERNAL TRAINING

OF EMPLOYEES WITHIN INDIA

61

Initiate proposal for participation of employees

Send to HOG (HRD)

Scrutinize the proposal based on previous 2 years records

Submit to chief for approval

Finalise the nomination & issue office order

Send copies of office order to concerned individual of HOD (PC), Finance, Controlling Officer

For any modification obtain approval from HOA/GM

Final approval by Chief Executives

Distribute course material & conduct training

Issue office order

Distribute copies

Page 62: Copy of Copy of Copy of Mba IV

STEPS FOR ORGANISING EXTERNAL TRAININGOF EMPLOYEES OUTSIDE INDIA

62

Initiate proposal of visit of executive abroad

Approval of concerned HOA

Examine eligibility criteria

Scrutinize the proposal based on previous records

Submit to chief for approval

Prepare proposals in formals

Submit three copies of trip report to HOG (HRD)

Issue office order

Arrangements

Process all payments

Examine the TA bills submitted by the concerned executive

Process for getting refund

Keep records in computer

Travel tickets

Foreign exchange

Medical insurance

Visa

Other allowances

Page 63: Copy of Copy of Copy of Mba IV

.

RESEARCH

METHODOLOGY

63

Page 64: Copy of Copy of Copy of Mba IV

CHAPTER-4

RESEARCH METHODOLOGY

4.1 RESEARCH APPROACH

The term research is defined as the systemic methods consisting of identification of problem,

formulating a hypothesis, collection the facts or data analysis of facts & reaching certain

conclusion either in the form of solutions towards the concerned problems or in certain

generalization for some theoretical formulation.

It may also be defined as systematic design, collection, and analysis & reporting of data &

findings with respect to a particular market situation facing a company.

The purpose of research is to discover answers to questions through the application of scientific

procedures. The main aim of research is to unravel the truth which is hidden and which has not

been discovered as yet. Research means search for knowledge. Increased account of research

makes progress possible. Research has its special significance in solving the various operational

& planning problems of business & marketing.

Logical and systematized applications of the fundamental of science to the general and overall

question of a study, and scientific techniques which provide precise tools, specific procedure and

technical, rather than philosophical means for getting and ordering the data prior to their logical

and manipulation.

64

Page 65: Copy of Copy of Copy of Mba IV

According to redman and mory,” Research is a systematized effort to gain new knowledge” The

research is made with following objectives:

EXPLANATION

There are many events and issues which we do not fully or partly understand. The objective of

providing an explanation of particular phenomena has been a common one in many forms of

research.

PREDICTION

On the basis of an explanation of phenomena it is often possible to make a prediction of future

events related to it. In the natural science these predictions are often made in the form of abstract

statement example .

More readily understood are predictions made in text form example If a person disagrees with a

friend about his attitude towards an object, then a state of psychological tension is produce.

SENSE OF UNDERSTANDING

Whilst explanation and predication can reveal the inner working of phenomena i.e. what happens

and when, they do not always provide a sense of understanding of phenomena – How or why the

happen. A complete explanation of a phenomenon will require a wider study of a process which

surrounds the phenomena and influence it or cause it to happen.

CONTROL

65

Page 66: Copy of Copy of Copy of Mba IV

A good label of understanding of a phenomenon might lead to the possibility of finding a way to

control it. Obviously, not all phenomena lend themselves to this, example it is difficult to

imagine how the disciplines of astronomy or geological could include a element of control.

But all of technology is independent on the ability to control the behavior, movement or stability

of things.

EVALUATION

Evaluation is making judgment about the qualities of objects or events.

Quality can be measured either in an absolute sense or on a comparative basis. To be useful the

methods or evaluation must be relevant to the context and intention of the research.

TYPES OF RESEARCH

Applied Research

It is undertaken with the aim of uncovering data to solve an existing problem the driving force of

this research is finding solution to a problem. Applied research aims at application of science to a

singular situation

The researcher has used the following research approach.

1. Problem oriented research – It is concerned with a class of issues or problems in

which several firms may be interested. Research of these type is usually concerned with a conceptual

as aspects but a oriented towards applied problems

2. Descriptive research – A descriptive study may be simple or complex. It determines how,

what, when, where and how of a topic. It is concern with describing the characteristic

66

Page 67: Copy of Copy of Copy of Mba IV

(Example – The extent to which library are used) estimating the proportionate of the people in

a specified population who holds certain views or attitudes (ex how many favor the abolition

of capital punishments?) predictions specifically (ex how many will cash their govt. bounds

during a given period?) and discovering or tasting weather certain variables are associated (eg

people who spend good deal of time for reading, go to movies often with each other)

3. EXPLORATORY RESEARCH – When the purpose of research is to gain familiarity

with a phenomenon or acquire new insights into it in order to format a more precise problem

or develop hypothesis, exploratory studies come in handy.

4. Experimental research – Although it is primarily possible in areas of physical sciences

with the happens to be too general or to specific a hypothesis cannot be formulated. therefore

a need for an exploratory research is felt to gain experience that will be helpful is formulating

relevant hypothesis for more definite investigation

The following are the three approaches to the exploratory studies

(i) Survey of Literature

(ii) Experience survey

(iii) Case study

5. Help of hypothesis may also be carried out a social science if such research enables us to

quantify the findings, to apply the statistical and mathematically tools and to measure the

results thus quantified. It is also classified under conclusive research

7. Quantitative versus Qualitative – Qualitative research is based on measurement quantity

or amount. It is applicable to phenomenon that can be expressed in term of quantity. Qualitative

67

Page 68: Copy of Copy of Copy of Mba IV

research, on the other hand is concerned with qualitative phenomenon that is phenomenon

related to or involving quality or kind. For instance, when we are interested in investigating the

reasons for human behavior (i.e. why people think or do certain things), we quite often talks of

Motivation Research’s, an imp. Type of qualitative research .other techniques of such research

are word association test, story completion and similar other projective technique

6. Conceptual versus Empirical - It is related to some abstract ideas or theory. It is

generally use by philosophers and thinkers to develop new concepts or to re interpret existing

ones. On the other hand, empirical research relies on observation alone, often without due

regards for system and theory. It is data based research,

RESEARCH PROCESS

Research pertaining to any field of study cannot be conducted abruptly. The researcher has to

proceed systematically in a planned direction following a number of steps in sequence. This

gives rise to a research process.

To carry out project effectively whole process is divided into several steps as under:

RESEARCH DESIGN

1. Problem Definition

2. Research Plan

Sampling plan.

Data Collection Methods.

Field Work.

Analysis & Interpretation.

Research Design is the first step in the research process. A research design is purely and simply

the framework or plan for the study that guides the collection and analysis of data. It is the blue

68

Page 69: Copy of Copy of Copy of Mba IV

print that is followed in completing the study. It is a basic framework, which provides guidelines

for the rest of research process by specifying the methods for data collection and data analysis.

The research project carried out is Exploratory in nature. Exploratory research is taken in order

to obtain the proper definition of problem at hand.

Research design is divided into the following parts:

1. FORMULATION OF RESEARCH PROBLEM

The formulation of problem is done after deciding the nature of research design. It is the first &

foremost step in any research process is the definition of the problem chosen for investigation in

a clear and concise manner.

2. DEVELOPING THE RESEARCH PLAN

After formulating the research problem an efficient prepared so that it yields the desired results

with minimal expenditure of effort, time & money. The information needed in the project could

only be provided by companies.

4.2 SAMPLING METHOD AND SAMPLE

SAMPLING PLAN

All the items under the consideration in any field of enquiry constitute a universe or population.

The unit selected from the population constitutes the research sample. For the purpose of present

study the sample was selected through simple random sampling (lottery method) .The

respondents were than contacted for the collection of responses. For the collection of primary

data the researcher has used questionnaire as a tool, the collected data was than tabulated and

analyzed with the help of the percentage method and Ms Excel package. This is then presented

and interpreted to drive findings and recommend suggestions.

69

Page 70: Copy of Copy of Copy of Mba IV

4.3 DATA, ITS TYPE AND COLLECTION

Primary data can be collected in various ways: through observation, focused group, surveys,

behavioral data, and experiments. During this research data have been collected using survey

method. Survey method is best suited for descriptive research. Companies undertake surveys to

learn about people’s knowledge, beliefs, preferences, and satisfaction, and to measure these

magnitudes in the general population.

DATA COLLECTIONThere are two important sources of collection of data:

Census data

Sample data

TYPES OF DATA

There are two types of data

Primary data

Secondary data

PRIMARY DATA

We collect primary data during the course of doing experiment research but in case we do

research of the descriptive type and perform surveys whether sample survey or census

surveys .The objective of primary data are formulated o the basis of research objective. We can

obtain primary data either through observation or through direct communication.

70

Page 71: Copy of Copy of Copy of Mba IV

METHOD FOR COLLECTING PRIMARY DATA

Questionnaire

Interviews

Telephone

Observation method

Schedules

SECONDARY DATA

Secondary data are those data which have been already collected and analyzed by some earlier

agencies for its own use and later the same data are used by a different agency.

METHOD FOR COLLECTING SECONDRY DATA

Internal secondary data

External secondary data

METHOD RESEACHER USED

An empirical study has been undertaken to understand and study the process of Recruitment and

Selection process atfuture generali Meerut.

Primary data was collected for the project report.

PRIMARY DATA:

First hand information was collected by personally visiting the Hyundai electronics

71

Page 72: Copy of Copy of Copy of Mba IV

Information regarding the Recruitment and Selection process was obtained through personal

discussion with personnel assistant of HR Department. Questionnaire was administered and

based on the analysis of those questionnaires the research has been carried forward 100

employees.

METHODOLGY FOR COLLECTING THE DATA

Defining the problem: The role and functions of Personnel Department remains

similar all overfuture generali. The policy and procedures of future generali are

uniformly applied. However, on same instances the functions of personnel

department differ from unit to unit. This difference is dependent upon the nature of

the job of respective unit of future generali

The HR procedure for Future generali has been evolved with a view of meeting the individual

and organizational needs

The current HR procedure in future generali has been studied. With the help of questionnaires,

executive’s opinions, their priorities and their expectations were studied.

Planning the sample:

The total population i.e. some of the executives, managers, and some people from the middle and

lower level management was the sample of the research study.

Sampling Technique:

Simple random sampling technique was used in order to get the data. To facilitate easy

availability of the data, respondents were the executives of the top management and of various

other divisions were approached.

Tools of Data collection:

72

Page 73: Copy of Copy of Copy of Mba IV

The tools of collecting data included questionnaires, interviews and personal observation

4.4 STATISTICAL TOOLS

Excel package

Data is tabulated than analyzed with the the help of percentage method(% method)

Pie diagram is used

FORMULA= X/N * 100Here in present study N is 100

73

Page 74: Copy of Copy of Copy of Mba IV

DATA

ANALYSIS

AND

INTERPERTATION

74

Page 75: Copy of Copy of Copy of Mba IV

DATA ANALYSES

(1) Are you fully aware about the functions of Personnel and

Industrial Relation Department?

TABLE-5.1 THE RESPONDENT VIEWS ON INDUSTRIAL RELATION DEPTT

Response No. of respondents Percentage

YES 100 100

NO 0 0

TOTAL 100 100

75

Page 76: Copy of Copy of Copy of Mba IV

FIG-5.1 THE RESPONDENT VIEWS ON INDUSTRIAL RELATION DEPTT

INTERPRETATION: employees are fully aware about the functions of personnel

and industrial Relation Dept.

76

Page 77: Copy of Copy of Copy of Mba IV

(2) Does Personnel Department functions well in its concern area

like Promotion, Transfer, Grievance Handling, etc?

TABLE-5.2 RESPONDENT VIEW ON FUNCTIONS OF FUTURE GENERLI

CONCERN AREA LIKE PROMOTION, TRANSFER & GRIEVACE HANDILING

Response No. of respondents Percentage

YES 25 25

NO 75 75

TOTAL 100 100

FIG-5.2VIEW ON RESPONDENT VIEW ON FUNCTIONS OF FUTURE GENERLI

CONCERN AREA LIKE PROMOTION, TRANSFER & GRIEVACE HANDILING.

INTERPRETATION: 25% employees says that HR deptt functions well in its concern

areas like Promotion, Transfer, Grievances Handling etc

77

Page 78: Copy of Copy of Copy of Mba IV

(3) Does employees grievance are take care of by the

organization ?

TABLE-5.3 RESPONDENT VIEW ON GRIEVANCE HANDLING

Response No. of respondents Percentage

YES 45 45

NO 55 55

TOTAL 100 100

FIG-5.3 RESPONDENT VIEW RESPONDENT VIEW ON GRIEVANCE HANDLING

INTERPRETATION: 45% employees agree on the statement that HR Dept. takes

proper care to redress the genuine Grievances of employees & rest 55% feels that

there is the need of improvement.

78

Page 79: Copy of Copy of Copy of Mba IV

(4) Are you aware of grievance redressal process at future

generali ?

TABLE-5.4 RESPONDENT VIEW ABOUT REDESSAL PROCESS

Response No. of respondents Percentage

YES 80 80

NO 20 20

TOTAL 100 100

FIG-5.4 RESPONDENT VIEW ABOUT REDESSAL PROCESS

INTERPRETATION: 80% employees are fully aware about grievance redressal

process at future generali.

79

Page 80: Copy of Copy of Copy of Mba IV

(5)Any suggestions to improve the present Grievance redressal

system in your Organisation.

………………………………………………………………………………………………………………………………………………………………………………………………………………………

INTERPRETATION:

The employee more focus is towards the routine meeting at a certain interval of time

for improving the present Grievances system in organization.

80

Page 81: Copy of Copy of Copy of Mba IV

(6)If you were head of HRD Department, what creative changes will

be introduced by you to make it more effective?

………………………………………………………………………………………………………………………………………………………………………………………………………………………

INTERPRETATION:

80% of the employees think that an organization HRD intervention may bring creative

changes in various department of an organization.20% of employees think, it not bring

Creative changes

81

Page 82: Copy of Copy of Copy of Mba IV

(7) Do you think that an appropriate HRD intervention may bring

creative changes in various Departments of an Organization ?

TABLE-5.7 RESPONDENT VIEW ABOUT HR INTERVENTION MAY BRING

CREATIVE CHANGES IN VARIOUS DEPTT

Response No. of respondents Percentage

YES 80 80

NO 20 20

TOTAL 100 100

FIG-5.7 RESPONDENT VIEW ABOUT HR INTERVENTION MAY BRING

CREATIVE CHANGES IN VARIOUS DEPTT.

INTERPRETATION: 80% of the employees think that an organization HRD intervention

may bring creative changes in various department of an organization.20% of employees

think, it not bring Creative changes.

82

Page 83: Copy of Copy of Copy of Mba IV

(8)How would you rate the present procedure of Training at Future

generali?

Response No. of respondents Percentage

EXCELLANT 45 45

VERY GOOD 25 25

GOOD 30 30

TOTAL 100 100

TABLE-5.7 RESPONDANT VIEW ABOUT PRESENT TRAINING

PROCEDUERE IN FUTURE GENERALI

FIG-5.7 RESPONDANT VIEW ABOUT PRESENT TRAINING

PROCEDUERE IN FUTURE GENERALI

83

Page 84: Copy of Copy of Copy of Mba IV

INTERPRETATION: The present Procedures of Training at future generali, 45%% of the employees said it is excellant, 25% said very good & rest of the employees said it is Good.

84

Page 85: Copy of Copy of Copy of Mba IV

(9) Any suggestions for improving the functions of HRD atfuture

generali.

(a)………………………………………………………………………

(b)………………………………………………………………………

INTERPRETATION:

For improving the function of HRD at future generali, the employees reply as:

i)Better Customer Relations.

ii)Need to be Proactive & Responsive.

iii)Strengthing the Department.

85

Page 86: Copy of Copy of Copy of Mba IV

(10)Name four welfare schemes provided to the employees by future generali.

(a)…………………………………(b)………………………………… (c)…………………………………(d)

…………………………………

INTERPRETATION:

When asked about the naming four welfare Schemes provided to future

generali employees, Majority of employees said-Housing ,Canteen, Group

Insurance & Free education.

86

Page 87: Copy of Copy of Copy of Mba IV

(11)Do you know any employee who has served the company for

whole his career and is properly taken care after his retirement?

TABLE-5.6 RESPONDENT VIEWS TAKEN CARE AFTER HIS RETIRMENT

Response No. of respondents Percentage

YES 45 45

NO 25 25

CAN’T SAY 30 30

TOTAL 100 100

FIG-5.5 RESPONDENT VIEWS TAKEN CARE AFTER HIS RETIRMENT

INTERPRETATION: the retiring employees, who has served in the company for whole of his career in the organization, taken care properly. On this question, 70% of the employees were satisfied. However 10% said No while the remaining 20% could not say anything

87

Page 88: Copy of Copy of Copy of Mba IV

(12) Is does future generali awards scholarship ?

TABLE-5.7 RESPONDENT VIEW ABOUT FUTURE GENERALI AWARDS

SCHOLRSHIP

Response No. of respondents Percentage

YES 70 70

NO 30 30

TOTAL 100 100

FIG-5.7 RESPONDENT VIEW ABOUT FUTURE GENERALI AWARDS

SCHOLRSHIP

INTERPRETATION: 70% employees says that future generali awards

scholrship

88

Page 89: Copy of Copy of Copy of Mba IV

CHAPTER 6

6.1 THE FINDINGS

FINDINGS

(1) Employees are fully aware about the functions of personnel and industrial Relation Dept

(2) 25% employees says that HR deptt functions well in its concern areas like Promotion,

Transfer, Grievances Handling etc

(3) 45% employees agree on the statement that HR Dept. takes proper care to redress the

genuine Grievances of employees & rest 55% feels that there is the need of

improvement.

(4) 80% employees are fully aware about grievance redressal process at future generali.

(5) The employee more focus is towards the routine meeting at a certain interval of time

for improving the present Grievances system in organization.

(6) 80% of the employees think that an organization HRD intervention may bring creative changes in various department of an organization.20% of employees think, it not bring Creative changes.

(7) 80% of the employees think that an organization HRD intervention may bring creative

changes in various department of an organization.20% of employees think, it not bring

Creative changes.

(8) The present Procedures of Training at future generali, 45%% of the employees said it is excellant, 25% said very good & rest of the employees said it is Good.

(9) For improving the function of HRD at future generali, the employees reply as:

i)Better Customer Relations.

89

Page 90: Copy of Copy of Copy of Mba IV

ii)Need to be Proactive & Responsive.

iii)Strengthing the Department.

(10) When asked about the naming four welfare Schemes provided to future generali employees, Majority of employees said-Housing ,Canteen, GroupInsurance & Free education.

(11) The retiring employees, who has served in the company for whole of his career in the organization, taken care properly. On this question, 70% of the employees were satisfied. However 10% said No while the remaining 20% could not say anything

(12) 70% employees says that future generali awards scholrship

90

Page 91: Copy of Copy of Copy of Mba IV

6.2 SUGGESTIONS

SUGGESTIONS

FUTURE GENERALI needs Human Resource Planning and To meet the demand of

changing Job requirements due to a rapidly changing Technology.

Certain new type of Human Resource may be required due to changes in / Introduction

of new legislative measures.

Personnel Department need to be pro-active and responsive.

Optimum utilization of Man Power.

Placing current Employee in Position who Utilise their capabilities better.

All basic policies and procedures relating to Industrial Relation should be clear to every

Employee in the Organisation and to the Union leaders.

91

Page 92: Copy of Copy of Copy of Mba IV

CONCLUSIONS

The main strength of an organization lies with its human resource one can say that the

employee build the organization. A good organization takes care of its human resource

at its priority. Unless the welfare and other facilities of the employees are properly taken

care of, they cannot contribute fully towards the organization with this, in view future

generali involves many welfare schemes.

The personnel management and industrial Relation department offuture generali looks

after the various human resource activities of the organization. The department

formulate the policies and procedures related to man management, ensures condusive

environment for better relation between employee and management, ensures

adherence to statutary provision related to employee, they also perform administrative

functions like security, office administration and takes of the welfare of the employees

and also takes care on the implementation of campanies Act and Employee State

Insurance Act in the organization.

The Human Resource Development section of future generali basically deals with the

training of employees and also the various inputs and outputs like human resources,

productivity, manpower position, projects, presentations, patents, copyrights, arranging

different programmes such as, programmes for awards & recognition etc. Training

programmes are basically of three types : In-house training of employees, external

92

Page 93: Copy of Copy of Copy of Mba IV

training of employees within India, and external training of employees outside India

(Foreign training).

Questionnaire

(1) Are you fully aware about the functions of Personnel and

Industrial Relation Department?

Yes No

(2) Does Personnel Department functions well in its concern area

like Promotion, Transfer, Grievance Handling, etc?

Yes No

(3) Does employees grievance are take care of by the organization?

Yes No

(4) are you aware of grievance redressal process at future

generali ?

Yes No

93

Page 94: Copy of Copy of Copy of Mba IV

(5) Any suggestions to improve the present Grievance redressal

system in your Organisation.

……………………………………………………………………………

……………………………………………………………………………

……………………………………………………………

(6) If you were head of HRD Department, what creative changes will

be introduced by you to make it more effective?

……………………………………………………………………………

……………………………………………………………………………

……………………………………………………………

(7) Do you think that an appropriate HRD intervention may bring

creative changes in various Departments of an Organisation?

Yes No

(8) If the answer to the above question is yes, will you kindly list,

what are the HRD interventions?

(a)………………………………………………………………..

(b)………………………………………………………………..

94

Page 95: Copy of Copy of Copy of Mba IV

(c)………………………………………………………………..

(9) How would you rate the present procedure of Training atfuture

generali?

Excellent Very Good Good

(10) Any suggestions for improving the functions of HRD atfuture

generali.

(a)………………………………………………………………………

(b)………………………………………………………………………

(11) Name four welfare schemes provided to the employees by future generali.

(a)…………………………………(b)………………………………… (c)…………………………………(d)…………………………………

(12) you know any employee who has served the company for

whole his career and is properly taken care after his retirement?

Yes No Can’t Say

(13) Is does future generali awards scholarship ?

Yes No

95

Page 96: Copy of Copy of Copy of Mba IV

96

Page 97: Copy of Copy of Copy of Mba IV

BIBLIOGRAPHY

S.No REFERENCES

1.C. R. Kothari “Research Methodology” Second Edition, Wishwa Prakashan.

2. Human Resource Management by Gary Dressler

3. Dcenzo & Robbins Human Resource Management, Prentice-Hall

International

4.Gupta, C. B.,‘Human Resource Management’, Sultan Chand & Sons, New Delhi

5. www.google.com.in

6. www.lgi.org/recruitment/purpose.htm

7. www.gla.ac.uk/services/humanresources/policiesandprocedures.

97