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Recruitment of FC, SDM, CDM

SUMMER TRAINING REPORT

ON

Recruitments of financial consultant Sales Development manager,

& channel development manager of HDFC

Standard Life

SUBMITTED TO PUNJAB UNIVERSITY, CHANDIGARH

A Project Report submitted in partial fulfillment of the requirements for the

award of the degree

MASTER OF BUSINESS ADMINISTRATION COMMERCE

AND INFORMATION TECHNOLOGY

(2009-2010)

SUBMITTED BY

SIMRAN JEET KAUR

ROLL NO 625

MASTER TARA SINGH MEMORIAL COLLEGE 1

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AKNOWLEDGEMENT

The statistical analyses of survey responses in this study reveal interesting I would like to

start by praying the almighty; which has been always help me and will be the driving force of

this mankind to give all of us the strength to achieve our set goals and target. The

compilation of a report not only requires time, effort and energy but also valuable guidelines

from various people.

I have great pleasure and privilege in expressing my deep sense of gratitude to my

supervisor MR. GAURAV MALHOTRA (Regional H.R. Manager) & MR. RAJESH

SHARMA (Branch Manager) for his supervision, constant encouragement, constructive

criticism and valuable counsel.

Finally we also wish to thankMASTERTARA SINGH MEMORIAL COLLEGE FOR

WOMEN for making this experience of summer training in an esteemed organization like

HDFC STANDARD LIFEpossible. The learning from this experience has beenimmense

and would be cherished throughout life.

SIMRAN JEET

EXECUTIVE SUMMARY


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I have done my summer training HDFCSLIC STANDARD LIFE. In whole work of my

summer training I have contracted the existing as well as others customers and take their

view and perception towards Insurance Services. During my training I have tried to find out

the what are the inconveniences with HDFCSLIC STANDARD LIFE among the existing

customer and about INSURANCE services and how much they avail these facilities.

During my training I have also Recruitment of FC, SDM& CDM. The compression is

followed by the services and at the end the recommendation which could help HDFCSLIC

to be more effective in the field ofINSURANCE SECTOR.


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PREFACE

In todays technology driven and competitive business environment learning new skills and

upgrading to existing ones are very vital. Education should compromise not only book

learning but also proper training of mind acquisition of practical knowledge in the secret of

success. The challenges and opportunities emerging in the wake of globalization and

liberalization of economics world, calls for a through understanding of the various factors of

Management.

Perusing MBA inMASTER TARA SINGH MEMORIAL COLLEGE,LUDHIANA and

provides me the opportunities to develop my skill of managerial aspect. For my training

purpose I had the privilege to have been associated with the Indias leading HDFCSLIC

with a view to obtain practical exposure in corporate world.

:-


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CONTENTS

CHAPTER 1 INTRODUCTION ABOUT INSURANCE 6-81) BRIEF HISTORY OF INSURNCE SECTOR

2) WHAT IS INSURANCE

3) WHAT IS INSURANCE AND HOW IT W

4) BENEFITS OF INSURNACE SECTOR

CHAPTER 2 INTRODUCTION ABOUT RECRUITMENT 9-22

1) Meaning of Recruitment

2) Sources of Recruitment

3) Benefits of Recruitment

CHAPTER 3 INTRODUCTION ABOUT HDFCSLIC 23-1) Company profile of hdfc slic

2) Hdfc slic products

3) Objectives of hdfc slic

4) Vision and values of hdfc slic5) Awards and achievents

6) Organization structure

7) Directors of company

8) History of company

9) HR Roles and Procedures

10) Swot analysis

11) Uses of green page

12)Empower

13) Compensation management

CHAPTER 4 INTRODUCTION ABOUT FC ,SDM,CDM

1) DEFINITION OF FC

2) WHAT GOVERNS FC


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3) WHAT INSURANCE IS PROFESSION

4) LICENCING PROCESS OF FC

5) TRAINING REQUIREMENT OF FC

6) PRE RECRUITMENT OF TEST

7) PRE REQUIREMENT TEST

8) IRDA AUTHORITY

9) REWARDS AND RECOGNITION

Introduction of Sales Development Manager.

1) MEANING OF SDM2) ROLES OF SDM

3) Front line Assessment and growth of SDM

4) INCENTIVES OF SDM

Introduction of Channel Development Manager.

1) Meaning of Channel Development Manager..

2) CDM Roles and their Process

3) Incentives of cdm

CHAPTER 6 Research Methodology

1) Primary data

2) Secondary data

3) Sampling

CHAPTER 6 OBJECTIVE OF STUDY

CHAPTER 7 DATA ANALYSIS AND INTERPRETATION

1) Questionnaire

2) Analysis

3) Conclusion ..

4) Bibliography


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CHAPTER 1 INTRODUCTION ABOUT INSURANCE

WHAT IS INSURANCE?

Insurance is a legal agreement between two parties to secure the payment of a sum of

money in the event of loss or damage to property, life, a person etc. by regular payments or

premiums

BRIEF HISTORY OF HDFC SLIC

Insurance started with Marine Insurance

First Indian Insurance Co. was Bombay Mutual Assurance Society Ltd. Formed in

1870

Life Insurance was nationalized in 1956 by merging 245 companies

Insurance sector was opened again to private players in 1999

As on 31st March 2002, 11 Life Insurance Companies transact Life Insurance

business in India ( Now no.14)

WHAT IS INSURANCE & HOW IT WORKS?

. Insurance is primarily a risk sharing device

Contributions are many used to share losses of unfortunate few

Loss must be unbearable by one and bearable if shared by the community

Loss must occur accidentally, randomly


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Insurance compensates for the loss, that too not fully

Nobody should make gain out of Insurance

BENEFITS OF INSURANCE

Provides security to the family

Builds funds for retirement income

An instrument of compulsory saving guaranteeing target amount of saving Provides tax saving

Preserves human life value

Superior to other ordinary saving plans

Encourages savings and forces thrift

Provides protection against creditors

Easy settlement, easy encashment, quick borrowing

Above all, provides peace of mind


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Chapter 2 : INTRODUCTION ABOUT RECRUITMENT

General Information

Recruitment is an integral part of the process of finding a job. But with the growing number

of firms, companies and other potential employment institutes, the process of finding a job or

employment has been made very difficult for the potential employees. These potential

employees face several overlapping constraints like shortage of time to look out for

employment, too much of expenditure unnecessary and inadequate information about the

companies.

Approaching the potential employers with the prospect of securing a job does not work

well for the aspiring job seekers as the companies are not able to devote much of their time to

these job seeking candidates. The companies have so busy schedule that they are not able to

find time to look out for their own manpower requirement.

Hence, when the candidates seeking job approach them, the companies are not able to

interact with them well. And on the other hand, the prospective employee not being

acquainted of what is required of him/her fails to deliver the expected. This two-dimensional

problem is being faced by both the parties while talking about this aspect of the issue.


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A company or a firm in need of a limited number of manpower is bound to attract a huge

number of potential employees, especially in a country like India where there is an acute

shortage of jobs. The aspirants are well matched to each other in all the possible ways and

are talented enough to lock horns with the competing candidates to fight for the limited

number of jobs. For example, an advertisement by the firm to fill in two empty posts or jobs

may attract applications huge in number, as huge as two hundreds or even more than that.

Just to fill in those two empty posts the company has to go through the 200 applicants

resumes and other documents. This process is tedious in nature and consumes a lot of time

and monetary resources. The firm may not be in a position to devote so much of its time and

funds just to select two candidates. This in turn, has led to a demand for agents that could

work and select potential employees for the firm up to a particular level after which, the

company would itself control the selection process of the candidates. The company pays a

certain amount of fees for the services rendered by these recruitment firms.

Recruitment:

Recruitment is defined as a process to discover the sources of manpower to meet the

requirements of the staffing schedule and to employ effective measures for attracting that

manpower in adequate numbers to facilitate effective selection of an efficient workforce.

Edwin B.Flippo defined recruitment as the process of searching for prospective employees

and stimulating them to apply for jobs in the organization.

Recruitment Strategies:

1. Insourcing or Outsourcing : Companies recruit the candidates, employ them, train

and develop them and utilize the human resources of these candidates. This strategy

is called in-sourcing. Some organizations employ and develop the candidates with


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a view to provide the human resource to other companies which concentrate on

manufacturing, servicing and such other activities. Such manufacturing and service

companies depend for their human resource requirement on such external

organizations, whose core business is to provide human resource. This strategy is

called outsourcing.

2. Internet: The fast developing IT industry and high technology oriented industry

invariably require to get vast human resource through the Internet.

Process of Recruitment in HDFCSLIC

Recruitment process passes through the following stages:

1. Recruitment process begins when the personnel department receives requisitions for

recruitment from any department of the company. The personal requisitions contain

details about the position to be filled, number of persons to be recruited, the duties to be

performed, qualifications expected from the candidates, terms and conditions of

employment and the time by which the persons should be available for appointment etc.

2. Locating and developing the sources of required number and type of employees.

3. Identifying the prospective employees with required characteristics.

4. Developing the techniques to attract the desired candidates. The goodwill of an

organization in the market may be one technique. The publicity about the company being

a good employer may also help in stimulating candidates to apply.

5. Employing of techniques to attract candidates .There may be others of attractive salaries,

proper facilities for development etc.6. The next stage in the process is to stimulate as many candidates as possible and ask them

to apply for jobs. In order to increase the selection ratio, there is a need to attract more

candidates.


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7. Evaluating the effectiveness of recruitment process. It consists of five elements namely

recruitment policy, a recruitment organization, developing sources of recruitment techniques

used to tap these sources, and a method of assessing the recruitment programme.

The sources of recruitment:

TRADITIONAL SOURCES OF RECRUITMENT

INTERNAL SOURCES:

Present Permanent Employees:

Organizations consider the candidates from this source for higher level jobs due to

availability of most suitable candidates for jobs relatively or equally to the external source, to

meet the trade union demands and due to the policy of the organization to motivate the

present employees.

Present Temporary or Casual Employees:

Organizations find this source to fill the vacancies at the lower level owing to the availability

of suitable candidates or trade union pressures or in order to motivate them on the present

job.

Retrenched or Retired Employees:

Organization retrenches the employees due to lack of work. The organization takes the

candidates for employment from the retrenched employees due to the pressure from trade

unions, obligations and the like others. Sometimes, the organization prefers to re-employ the

employees as a token of their loyalty to the organization or to postpone some inter-personal

conflicts for promotion etc.

Dependents of Deceased, Disabled, Retired and Present Employees:


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Some organizations function with a view to developing the commitment and loyalty of not

only the employee but also his family members and to build up image and provide

employment to the dependents of deceased, disabled and present employees. Such

organizations find this source as an effective source of recruitment.

EXTERNAL SOURCES:

Campus Recruitment:

Inexperienced candidates can be recruited from various educational institutes like colleges

and universities imparting education in science, commerce, arts, engineering and technology,

agriculture, medicine, management studies etc.

Private Employment Agencies/Consultants:

Public employment agencies or consultants perform recruitment functions on behalf of a

client company by charging fees.

Public Employment Exchanges:

The Govt. set up public employment exchanges in the country to provide information about

vacancies to the candidates and to help the organization in finding out suitable candidates.

Professional Organizations:

These organizations maintain complete resumes of their members and provide the same toother organizations on requisition.

Data Banks:

The management can collect the resumes of the candidates from different sources like

employment exchanges, educational training institutes; candidates feed them in the


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computer. It will become another source were the company can get their particulars as and

when it needs to recruit.

Casual Applications:

Depending upon the image of the organization, its prompt response, participation of the

organization in the local activities, level of unemployment, candidates apply casually for jobs

through mail or hand over the applications in the Personnel Department. This would be a

suitable source for temporary and lower level jobs.

Trade Unions:

Trade Unions are a reliable source as the members had always shared a certain amount of

intimacy with the union. Hence persons seeking re-employment are backed by the trade

unions.

PRESS ADVERTISEMENTS :

Advertisements of the vacancy in newspapers and journals are a widely used source of

recruitment. The main advantage of this method is that it has a wide reach

MODERN SOURCES OF RECRUITMENT

INTERNAL SOURCES

Employee Referrals:

Present employees are well aware of the qualification, attitudes, experience and emotions of

their friends and relatives. They are also aware of the job requirements and organizational

culture of their company. As such, they can make preliminary judgment regarding the match

between the job and their friends or relatives.

EXTERNAL SOURCES


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Walk-in interview:

Some organizations advise the potential candidates to attend for an interview directly and

without a prior application on a specified date, time and at a specified place. This is called a

walk-in interview.

Consulting:

The busy and dynamic companies encourage the potential employees to approach them

personally and consult them regarding the jobs. The companies select the suitable candidates

from among such candidates through selection process.

Body Shopping:

Professional organizations and the hi-tech training institutes develop the pool of human

resources for the possible employment. The prospective employers contact these

organizations to recruit the candidates.

Mergers and Acquisitions:

Business alliances like acquisitions, mergers and take-over help in getting human resources.

Factors Affecting Recruitment

The recruitment function of the organizations is affected and governed by various internal

and external forces.

Internal forces or factors:-are the factors that can be controlled by the organisation.

External factors:-are those factors which cannot be controlled by the organisation.

Factors Affecting Recruitment

Internal Factors External Factors


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1. Recruitment Policy 1. Supply and Demand

2. Human Resource planning 2. Labor Market

3. Size of Firm 3. Image/Goodwill

4. Cost 4. Political-Social-Legal

Environment

5. Growth and Expansion 5.Unemployment Rate

Internal Factors Affecting Recruitment

The internal forces i.e. the factors which can be controlled by the organisation are:

1. RECRUITMENT POLICY:The recruitment policy of an organisation specifies the

objectives of recruitment and provides a framework for implementation of recruitment

programme. It may involve organizational system to be developed for implementing

recruitment programmes and procedures by filling up vacancies with best qualified people.

Factors affecting recruitment process:

Organizational objectives

Personnel policies of the organization and its competitors

Government policies on reservations.

Preferred sources of recruitment.


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Need of the organization.

Recruitment costs and financial implications

2. HUMAN RESOURCE PLANNING: Effective human resource planning helps in

determining the gaps present in the existing manpower of the organization. It also

helps in determining the number of employees to be recruited and what qualification

they must possess.

3. SIZE OF THE FIRM:The size of the firm is an important factor in recruitment process.

If the organization is planning to increase its operations and expand its business, it will think

of hiring more personnel, which will handle its operations.

4. COST:Recruitment incur cost to the employer, therefore, organizations try to employ

that source of recruitment which will bear a lower cost of recruitment to the organization for

each candidate.

5. GROWTH AND EXPANSION:Organization will employ or think of employing more

personnel if it is expanding its operations

External Factors Affecting Recruitment

The external forces are the forces which cannot be controlled by the organisation.

1. SUPPLY AND DEMAND: The availability of manpower both within and outside the

organization is an important determinant in the recruitment process. If the company has a

demand for more professionals and there is limited supply in the market for the professionals


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demanded by the company, then the company will have to depend upon internal sources by

providing them special training and development programs.

2. LABOUR MARKET:Employment conditions in the community where the organization

is located will influence the recruiting efforts of the organization. If there is surplus of

manpower at the time of recruitment, even informal attempts at the time of recruiting like

notice boards display of the requisition or announcement in the meeting etc will attract more

than enough applicants.

3. IMAGE / GOODWILL: Image of the employer can work as a potential constraint for

recruitment. An organization with positive image and goodwill as an employer finds it easier

to attract and retain employees than an organization with negative image. Image of a

company is based on what organization does and affected by industry. For example finance

was taken up by fresher MBAs when many finance companies were coming up.

4. POLITICAL-SOCIAL- LEGAL ENVIRONMENT: Various government regulations

prohibiting discrimination in hiring and employment have direct impact on recruitment

practices. For example, Government of India has introduced legislation for reservation in

employment for scheduled castes, scheduled tribes, physically handicapped etc. Also, trade

unions play important role in recruitment. This restricts management freedom to select those

individuals who it believes would be the best performers. If the candidate cant meet criteria

stipulated by the union but union regulations can restrict recruitment sources.

5. UNEMPLOYMENT RATE: One of the factors that influence the availability of

applicants is the growth of the economy (whether economy is growing or not and its rate).

When the company is not creating new jobs, there is often oversupply of qualified labour

which in turn leads to unemployment.


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6. COMPETITORS:The recruitment policies of the competitors also affect the recruitment

function of the organisations. To face the competition, many times the organisations have to

change their recruitment policies according to the policies being followed by the competitors.

Objectives of Recruitment

To attract people with multi-dimensional skills and experiences that suits the present and

future organizational strategies.

1. To induct outsiders with a new perspective to lead the company.

2. To infuse fresh blood at all the levels of the organization.

3. To develop an organizational culture that attracts competent people to the

company.

4. To search or head hunt/head pouch people whose skills fit the companys values.5. To devise methodologies for assessing psychological traits.

6. To seek out non-conventional development grounds of talents.

7. To search out talent globally and not just within the company.

HR ROLES AND PROCEDURES


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A Centers HR group has a key role in developing, introducing and sustaining policies,

practices and services for accommodating spouses/partners. This role includes:

supporting management in the development of Center policy and practices for

accommodating spouses/partners;

advising job applicants and their spouses/partners about the availability and

application of these practices;

exercising initiative, as much as possible, to accommodate spouses/partners needs

prior to their move to the duty station;

ensuring that high-quality advice and assistance is available to spouses/partners

during their settling in to the duty station;

monitoring the needs of spouses/partners actively after they settle in, and acting

expeditiously to meet those needs where possible;

providing a range of support services to spouses/partners, particularly in publicizing

employment and consultancy opportunities;

providing support and guidance to spouse/partner committees;

reviewing the impact and effectiveness of the Centers policy and practices periodically, and

reporting to senior management with options for future refinements

HR ROLES

RECRUITMENT

1) 1.TEST

2) 2.INTERVIEW


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3) 3.SELECTION

4) 4.CHECK REFERENCE

5) 5.PREVIOUS CTC

6) 6.ENTERTAINING

7) 7.CHECK QUALIFICATION

8) 8.REPORTING TO THEIR BM/SDM/BDM

9) 9.FILL JOINING KITTS

10) 10.PREAPARING RECORD

11) PROCESS ADHERENCE

CHECK ATTENDANCE

1) PREPARING OF RECRUITMENT TRACKERS

2) MEDICLAIM UPDATION

3) INVITATION TO ALL BRANCHES

4) GROUP TERM INSURANCE

5) GIVE OFFER LETTER

6) PROVIDE BANK OPENING LETTER7) PROVIDE ACCEPTANCE LETTER

8) PROVIDE RELEIVING LATTER

9) RECORDS OF SALARY

GREIVANCE HANDLING

1) EMPLOYEES COMPLAINTS

2) PROVIDE SOLUTION

3) MAILS TO HO

4) PROVIDE INFORMATION ABOUT ANY PREVIOUS EMPLOYEES

5) UPDATE THE DATA

6) TAKING IMMEDIATE ACTION

7) RESOLVE THE PROBLEM


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EMPLOYEE ENGAGEMENT

1) ORGANISE FUN SESSION

2) FUNTOSH

3) SAMOSA DAY

4) FUN FLIPS DAY

5) CELEBRATE ON EVERY FESTIVAL

6) GIVE INFORMATION ABOUT NEW SCHEMES


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CHAPTER 3 I NTRODUCTION OF COMPANY

INTRODUCTION

HDFC Standard Life Insurance Company Limited. is one of India's leading private insurance

companies, which offers a range of individual and group insurance solutions. It is a joint

venture between Housing Development Finance Corporation Limited (HDFC Limited),

India's leading housing finance institution and a Group Company of the Standard Life Plc,

UK. As on February 28, 2009 HDFC Ltd. holds 74% and Standard Life (Mauritius Holding)

2006, Ltd. holds 26.00% of equity in the joint venture, while the rest is held by others.


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MASTER TARA SINGH MEMORIAL COLLEGE

Insurance Density

Country Life Non Life Total

United States 1611.4 1540.7 3152.1

Canada 757.2 759.6 1516.8

Sw itzerland 2583.3 1570.6 4153.9

United Kingdom 3028.5 730.7 3759.2

Japan 3165.1 808.2 3973.3

South Korea 935.6 298.5 1234.1

Hong Kong 892.9 269.1 1162

Malaysia 86.4 64.6 150.9

India 7.6 2.3 9.9

Prem iums per capita (USD)

for the ye ar 2000

Source - Swiss Res Sigma Report

Insurance penetration in India

(premium as a % of GDP)

24

Year Life Non Life Total

1996 1.29 0.55 1.84

1997 1.39 0.56 1.95

1999 1.39 0.53 1.93

2000 1.77 0.55 2.32

Penetration - India

80%InsuredUninsured

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HDFC PRODUCTS

. Customer base of over 2 million

Stable and experienced management

Indias largest housing finance institution

Asset base over Rs. 100 billion

International presence through service associates

Highest Corporate governance rating AAA

from CRISIL and ICRA


SECURITISATION

Future Activities

DISTRIBUTION HDFC CHUBBGENERAL INSURANCE

CO. LTD.

25

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Objectives

State the benefits of selecting the right company

Enlist the parameters of selecting a life insurance company

List strengths of HDFC, Standard Life & HDFCSL

Draw organization structure of HDFC SL as well as Retail Team

Describe your role as Sales Development Manager

HISTORY

HDFC STANDARD LIFE INSURANCE HOUSING DEVELOPMENT FINANCE

CORPORATION LIMITED (HDFC)

Founded in 1977, HDFC is today the market leader in housing finance in India and

has extended financial assistance to more than 15 lakh homes. HDFC has more than 110

offices in India presently. It also one international office in Dubai and 3 Service Associates

in Kuwait, Qatar, and the Sultanate of Oman. HDFCs asset base amounts to over Rs. 28,000

croes. Its financial strength is reflected in highest safety ratings of FAAA and MAAA

awarded by CRISIL and ICRA two of Indias leading credit rating agencies respectively,

for the last 6 years consequently. It has a depositor base of over 11 lakh customers and a

deposit agents force of over 46,000 of the total deposits, 73% are sourced from individual

and trust depositors. Which demonstrates the tremendous confidence that retail investors

have in the company.

Being an institution that is strongly committed to the highest standards of quality and

excellence, HDFC has won several accolades in the past few years such as Ramakrishna

Bajaj National Quality Award for the year 1999, this award was instituted to award

recognition to Indian companies for business excellence and qualify achievement HDFC is

the only company so far to receive this award.


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STANDARD LIFE ASSURANCE COMPANY

Founded in 1825, Standard life has been at the forefront of the UK insurance industry

for 176 years by combining sound financial judgment with integrity and reliability. The

largest Mutual life Company in Europe, it has operations in the United Kingdom, Ireland,

Spain, Germany, Austria and Canada with representative offices in Hong Kong and China.

One of its most recent successes was the launch of Standard Life Bank on 1 st January,

1998. The introduction of its innovative mortgage product in January 1999 has an immediate

impact on the UK market, accounting for 11% of all new lending within the first operational

year. The current loans understanding amount to Rs. 43,300 crore.

Standard Life has total assets of Rs. 5, 95000 crore and new premium income last

year of Rs. 30,000 crore. Its UK investment portfolio accounts for approx 2% of all shares

listed in the London Stock Exchange. It is one of the few insurance companies in the world

to receive AAA rating from two of the leading international credit rating agencies. Moodys

and Standard Z& Poors. The later described Standard Lifes ability to meet its claims

obligations as overwhelming under a variety of economic conditions.

Standard life is rated as one of the strongest companies of the world, in financial terms. The

companys reputation in the UK market remains unrivalled. Besides, being voted company

of the year for overall service, for the third consecutive year, Standard Life was recently

voted Company of the Decade by independent brokers.


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Incorporation of HDFC Standard Life Insurance Company Limited

The company was incorporated on 14 th August 2000 under the name of the HDFC

Standard Life Insurance Company Limited. On the 23rd of October 2000, HDFC Standard

Life was the only life company to be granted a certificate of registration.

HDFC are the main shareholders in HDFC Standard Life, with 74.4% while standard

Life owns 18.6%. Given standard Lifes existing investment in the HDFC Group, this is the

maximum investment allowed under current regulations.

VISION AND VALUES OF THE COMPANY

Vision Statement

The most successful and admired life insurance company,

which means that we are the most trusted company,

the easiest to deal with, offer the best value for money

and set the standards in the industry.

In short, The most obvious choice for all.

Integrity

Innovation

Values


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Customer Centric

Joy & Simplicity

Team Work

People Care

One for all & all for one

Achievements

Rated Best New Insurer 2003,

by Outlook Money

Declared bonusInitiated Anti-rebating issues with IRDA,

resulting in introduction of new guidelines

for 4 consecutive years since inception

Awards & Accolades

* Indias best managed company by Asia money magazine - 1995 and 1996

* Most competitive Indian company by Euromoney - 1997

* One of the 5 best Indian Boards by Business Today -1997

* Best presented accounts 1994-95 and 1996-97 (3rd place) - in the SAARC region by

the South Asian Federation of Accounts in the financial sector category

* Rated as one of the best companies in India for strategy & management and investor

relations by Asia money - 1998

* Excellence in service industry by the Indian Institute of Marketing Management &

Top Management Club (Pune) -1998


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* Shield for the best presented accounts for banks and financial institutions - over 11

times (8 years in a row)

* 1999 IMC Ramakrishna Bajaj National Quality Award in the service category

* CII-EXIM Bank Commendation Certificate for commitment to Total Quality

Management - 2000

* Asia money declared HDFC as the second best managed company in India - 2001

* Euro money identified HDFC as one of Asias top 10 best managed companies in the

finance sector - 2001

* Rated as the Best Non-Banking Financial Company in Asia by Institutional Investor

Research Group - 2002

The Retail sales Hierarchy of HDFC Standard Life Insurance

General Manager

Head Retail Sales

Regional Branch Manager

Business Development Managers

Certified Financial Consultants


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CEO OF THE COMPANY

Mr. Deepak S. Parekh

Is the Chairman of the Company. He is also the Executive Chairman of

Housing Development Finance Corporation Limited (HDFC Limited). He

joined HDFC Limited in a senior management position in 1978. He was

inducted as a whole-time director of HDFC Limited in 1985 and was

appointed as its Executive Chairman in 1993. He is the Chief Executive

Officer of HDFC Limited. Mr. Parekh is a Fellow of the Institute of

Chartered Accountants (England & Wales).


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Mr. Paresh Parasnis is the Principal Officer and Executive Director of the

company HDFC SL

LIST OF DIRECTORS

Sir Alexander M. Crombie

Mr. Keki M. Mistry

Ms. Marcia D. Campbell

Ms. Renu S. Karnad

Mr. Norman K. Skeoch

Mr. Gautam R. Divan

Mr. Ranjan Pant

Mr. Ravi Narain

Mr. Gerald E. Grimstone


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S WOT Analysis OF HDFC SLIC

STRENGTHS WEAKNESSES

Strong Brand Image

Dedicated sales team

Value added services.

Rigid Eligibility Criteria

Weak Customer Relations

Management

Centralized Structure

Less motivated to fcs

OPPORTUNITIES

THREATS

Large Untapped Market.

Distinguishable product (children

plan).

More demand for insurance

Presence of very strong competitors.

Aggressive marketing by

competitors.

Various investment Schemes


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ROLE OF GREEN PAGE

GREEN PAGEGreen page is the important document of the company. On a green page you can access the

different tools. Green page is very important because employees of the organization can takeany type of information through the green page. Green page is the connected through the

intranet in the organization. You can check anything related to the employees like fc,sdm can

mark their attendance in empower. Every employees can check their salary details.

EXAMPLES

EMPOWER

USER NAME :YOUR EMPLOYEE NO.

PASSWORD : Default password for first time users is adnet 2003

Your problem period will be of three months from the date of joining the services .

Post that you will be assessed for confirmation by your immediate superior.your

IN EMPOWER

Mark you attendance/attendance regularization.


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View your attendance record for the current year.

Give your leave request.

Take a record of your leaves taken in the past.

Mark your appraisal for the year.

You can avail three types of leaves during the year post your confirmation.

.CL : Casual leave 8 leaves per calendar year

.SL: Sick leave 15 leaves per calendar year

PL: Previlege 30 leaves per calendar year

CASUAL leaves lapse at the end of each calendar year and will not be reward for

accumulations.

MY COMPENSATION MANAGEMENT

Under this head you can a-----View your pay slips for previous months.

Update your salary account no with specified

Bank of the organization.

View your pf statement

Declare your tax saving options for the current financial year.

View your tax deduction done so far the previous year.

View and download form 16 for previous year after spending at least one year in

organization.

View your eligibilities on leave travel allowance as well as domiciliary mediclaim

allowance.


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INTRODUCTION ABOUT FINANCIAL CONSULTANT

DEFINITION OF AN FINANCIAL CONSULTANT

Section 182 of Indian Contract Act 1872 defines an FC as under

person employed to do any act for another or to represent another in

dealing with a third person


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The person on whose behalf the FC works is called Principal

. Principal is bound by the actions of the FC

WHAT GOVERNS INSURANCE FC?


Contract act 1872

Insurance act 1938

IRDA ACT

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WHY INSURANCE IS A PROFESSION?


Agency appointment

letter issued by thecompany

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Mr. Paresh Parasnis is the Principal

Officer and Executive Director of the company


EXPERT

KNOWLEDGE

NOBLE

PROFESSION

CODE OF

CONDUCT

41

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BENEFITS OF INSURANCE AGENCY

INSURER AS THE AGENTS SPONSOR

The Insurer:

Develops agency by sponsoring training of agents whom he wants to license


Agent ishis own

paymas

ter

Independentwork

Economic

security

No fixed

rules ofwork

No investment

No

forwarding

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Issues license through a designated person

Designated Person:

An officer normally in charge of marketing operations as specified by an insurer, and

authorized by IRDA to issue or renews licenses

LICENSING OF FC

Covered under IRDA (licensing of Insurance Agents) Regulations, 2000

Criteria to become an agent laid down

Training requirements specified

Licensing & renewals by designated person only

To be composite insurance agent, two separate applications required

CRITERIA FOR BECOMING AN INSURANCE

FINANCIAL CONSUTANT

Age > 18 years


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Educational Qualification

At least 10th standard (population of 5000)

Sound Mental Health

TRAINING REQUIREMENT FOR FC

IRDA Specifications:

50 hours in life / General Insurance

For Composite Agent, at least 100 hours of practical training in life and general

insurance business combined

Training to be conducted by an Institute approved and notified by IRDA

Training requirement reduced to 50% for those with qualification such as CA, MBA,

Associate/Fellow of Insurance Institute of India etc.

PRE-RECRUITMENT TEST

To become an FC, the person


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Must qualify Pre-Recruitment Test conducted by body recognized by IRDA

Permitted to take test only if he has completed required number of hours of training

Must obtain at least 50% marks to pass the Pre Recruitment Test

LICENSING PROCES

. Designated person issues license along with identity card valid for three years

license fee is Rs. 250

For renewal of license, agent must undergo additional training for 25 hours

Designated person takes decision to renew license or not

Application for renewal of license to be made at least 30 days before expiry of license

otherwise additional fee of Rs. 100 payable

CORPORATE FINANCIAL CONSULTANT

A Firm, a Company, Co-operative society, Panchayat, or Local Authority can be

Corporate Agent and work for one Insurance Company

Designated partner or Director or any Officer designated as Corporate Insurance Executive to

undergo training and pass the test

INSURANCE BROKERS

Broker is a new channel of distribution of insurance products.


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While agent represents insurer, broker represents the client

Broker to meet certain Capital criteria

Broker can recommend to their clients product ofany Insurance Company

Brokers have to undergo 100 hours training and pass the test

License to insurance brokers issued by IRDA

Three types of brokers Direct Broker , Re-insurance Broker, Composite Broker

TERMINATION OF AGENCY

Agency can also be terminated if Agent acquires any legal disqualification

such as -

- Found to be minor

- Found to be of unsound mind

- Conviction for criminal misappropriation

- Criminal breach of trust

- Cheating or forgery

ROLE OF CONSULTANT IN UNDERWRITING

He submits a confidential report with each proposal form about health habit and income of

the proposer

CODE OF CONDUCT FOR FC

- Not to interfere the proposal introduced by other agent

-Not to demand or receive a share in claim amountThe Regulations prescribe a Code

of Conduct for Agents

The Code states that Agent shall identify himself and the insurer he represents


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Dos for Agents as per Code of Conduct

Show the licence if prospect demands

Explain all the options available to the client

Recommend a plan suitable for clients needs

Disclose the commission he gets if enquired by the client

Explain the nature & importance of information in the Proposal Form. Impress upon the

client to disclose all information fully & truthfully

Make all enquires about the prospect

Inform insurer about anything material or habits which can affect underwriting decision

Inform the client about acceptance / rejection of risk

Help clients to comply with the requirements asked for by the insurer

Advise policyholder to effect nomination / change etc.

Ensure remittance of premium by the policyholder on due dates by notice orally or in writing

Donts for Fc as per Code of Conduct

- Not to induce the client to give wrong information

-Not to ask the policyholder to discontinue existing policy and to take new one.

WHY WAS IRDA ESTABLISHED?

TO REGULATE, PROMOTE & ENSURE

ORDERLY GROWTH OF LIFE

&

GENERAL INSURANCE INDUSTRY

IRDA MEMBERS

Members are appointed by Central Govt.

CHAIRPERSON


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WHOLETIME MEMBERS TENURE 5 YEARS

PART TIME MEMBERS

Why CFC and not an FC

Certifiedbecause - a governing body of the insurance segment

called the IRDA certifies you Financial consultantbecause

We believe you need to advice and recommend

the best solution to meet a clients financial requirement.

Support and Recognition

Top quality training initially by the company

Support of a dedicated Sales Development Manager


First year 2nd year 3rd Year+ Bonus

Endowment 25% 5% 5% 15%

Money Back 25% 5% 5% 15%Term Assurance (RP) 20% 5% 5% 15%

Loan Cover Term (RP) 20% 5% 5% 15%

PPP (RP) 7.50% 2% 2% NIL

SPWLP/ PPP (SP) 2% - -

ULEP 12.50% 4% 1% NIL

ULPP (RP) 7.50% 2% 1% NIL

ULPP (SP) 1%

Type of Plan

Rate of commision

Commission Structure of finanacial

consultant

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First class pre and post sales support

Lead Generation Support

Marketing Support

Recognition Programs - MDRT, Top Achievers Section

Reward Programs

Online Support

Star Performers Club

Level 1: Star Centurion Club (upto 10% extra commission)

Level 2: Gold Star Performers Club (5% extra commission)

Level 3: Silver Star Performers Club (2.5% extra commission)

Club members are eligible for various privileges depending upon levels.

They can choose from an assortment of gifts ranging from mobile phones, wrist watches,

telephone answering machines, electronic diaries,

palmtops, PCs, two wheelers, ACS, holiday packages etc,

subject to maximum limit applicable to him/her.

Quizzes & Contests

Periodic Branch Level Contests

National Level Contests

Prizes ranging from Foreign Trips, Consumer Durables, Mobile phones, Laptops,

Palmtops, Handy-cams, Gold Coins etc.

All Financial Consultants who qualify for National Level gets Certificate of

Achievement from the Head - Retail Sales

Monthly Quizzes in In Touch with Life an in-house magazine


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Subscription to Insurance Monthly Insurance Watch

Who are we looking for ?

Committed, have the drive, determination and openness to learn.

Professional Outloo

Ability to sell a range of financial products

Looks forward to meeting & interacting with people

Have the zeal to perform & excel

Want to be a winner in life

Are you ready for the challenge

Of any approximate Rs. 50, 000 crore

by way of premium income in the next 5 years

at least Rs 10,000 crore is available

by way of commission only.

The pie is huge; the challenge is of to get maximum

of this pie for you.


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All figures in rupees

Endowment/Money Back Type Plan


SALE DEVELOMENT MANAGER

MEANING OF SDM

These are sales developing manager. The main purpose of sdm is to recruit ,train & create

high performing fcs to achieve salse target.

ROLES OF SDM


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SDM/BM to monitor daily progress of Trainees

Weekly status report to be submitted by SM to the CD team

Trainees to submit filled-up FC application forms

Seminars for the fc

Going with fc for increasing the business

Give script for talking more and more business

FC application forms to be validated by SDM/BM

Recruitment Log-in Day

Trainees to submit validated application forms

Candidate ids of FCs to be captured

SAM OF SDM

Sam is a major and most important tool to get registered your day to day activities done in

the field.

Through sam your performance will be reviewed and taken on daily basis.

NEED OF KEY POINTS

Activities performed on fc recruitment

Activities performed on business calls

FC Visit review

FC Team meetings /building

Training of FC

SDM OBJECTIVES AND STRATEGY FOR SALES FORCE


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The days when all the sales force did was "sell, sell, and sel1" are long gone. Sales reps need

to mow how to diagnose a customer's problem and propose a solution. Salespeople show a

customer-prospect how their company can help a customer improve profitability.

Companies need to define the specific objectives they want their sales force to achieve, For

example, a company might want its sales representatives to spend 80 percent of their time

with current customers and 20 percent with prospects, and 85 percent of their time on

established products and 15 percent on new products. The specific allocation scheme

depends on the kind of products and customers, but regardless of the selling context, sales-

people will have one or more of the following specific tasks to perform:

Prospecting. Searching for prospects, or leads.

Targeting. Deciding how to allocate their time among prospects and customers.

Communicating. Communicating information about the company's products and

services. .

Selling. Approaching, presenting, answering questions, overcoming objections, and

closing sales.

Servicing. Providing various services to the customers consulting on problems,

rendering technical assistance, arranging financing, expediting delivery.

Information gathering. Conducting market research and doing intelligence work.

Allocating. Deciding which customers will get scarce products during product

shortages.

Because of the expense, most companies are moving to the concept of a leveraged sales

force. A sales force focuses on selling the company's more complex and customized

products to large accounts, while low-end selling is done by inside salespeople and

through Web ordering. Tasks such as lead generation, proposal writing, orderfulfillment, and postsale support are turned over to others. Salespeople handle fewer

accounts, and are rewarded for key account growth. This is far different from expecting

salespeople to selling every possible account, which is usually the weakness of

geographically based sales forces.


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FLAG OF SDM

FAQ for Launch of FLAG 0607 1/6 FLAG 0676

FLAG 0607

FAQ and Guideline Sheet

1. From when FLAG 0607 is effective

A FLAG 0607 is effective April 06

2. What does the program offers to the front line sales

A An opportunity toScale up in the sales hierarchy

Increase in CTC

Get recognized for his achievements

3. What are the new features of the program?

a) Target cycles of 9 month

b) 4 Cycles of targets thus 4 opportunity months

c) Early achievers will be rewarded early Faster the better

d) Higher reward to high performers

e) LEAP targets included in the program

4. Which are the Measure of performance for which the targets are been incorporated in

the program?

A The program focuses on three business targets:

- RNEP

- Active FC count

- Team size of FC

5. How is RNEP calculated

A RNEP calculation rules would be similar to the one applied for RNEP calculations of

sales incentive scheme

6. What is Active FC for the FLAG program


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A An FC would be considered active once he has one new conversion (new business) in

the month.

FAQ for Launch of FLAG 0607 2/6 FLAG 0676

7. When does the program starts and ends?

A The program starts with 1st target cycle. The duration of the target cycle is nine

months.

If any of the FLS has achieved all the MOPs then we would be taking a waiting period

of one month for reconciling possible look ins / Cancellations happening of the policies.

CHANNEL DEVELOPMENTMANAGER

Objective

Primary To leverage the Trainees resource for Financial Consultant Recruitment and thereby

beefing up the sales force

Secondary


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To provide the trainees with valuable On-Jobtraining with an opportunity to Earn

while you Learnwith regular stipend and an Incentive Scheme

Promoting their communication/networking /convincing skills equipping them with

experience pre-requisite for any sales related job

The Process

Channel Development to select Project / Management Tainees from Business schoolsor referred by SMs

CD team will give basic training / handholding to the trainees on recruitment and give

each trainee a weekly target for Project reports

Arrange training Seminar with Training Team for product Knowledge

The Project trainees will pitch an opportunity for a Business Partner

Weekly review on problems / feed back session with Branch Manager / CD Team

Role and Responsibilities of

CD Manager

Role Profile - CD Manager

KRAs CD Manager

Targets per CD Manager

Confirmation Grid 6 months

Recruitment Activity Monitor (RAM)

Daily-Weekly-Monthly Work Check-List


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Support Functions

1. Role Profile CD Manager

Direct Responsibilities

1.Team Building

Resources Recruitment (RC,PT,E2E Vendor,RP)

2.Training & Induction

Training Program for Your Resources

Joint Field Work with Resources

3.Planning & Implementation of Lead Generation Activities .

Min One BOP per Week

Canopy

Road Shows

BTL Activity

4.Resource Motivation and Drive.

One Vendor Review meet per Week ( Channel Development Manager to Review)

One Vendor Meet per Month( AM-CD to Address)

Felicitation & Rewards to top performers

5.IRDA Training & Examination

FC 50 Hrs Training Tracking through LC & RCs.

IRDA Examination Tracking through LC & RCs and increasing I/O Ratio.


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6.MIS & Documentation

Documentation Contracts & Payment Modes of Vendor

MIS on Recruitment & Licensing Of FC BM/TM wise

Keeping an Eye on first Business track,activisation through LC and HO Biz Update.

7.Relationship Management at Local Level

Regular Branch Visits

Relationship Management( RM,TM,BM,SDM & Ops)

Allocation of FCs through TM/BM Retail

FC Recruitment, Licensing & Business Updates to Retail functions

Updating Ops-Agency Coordinator on Process Changes

8.Checking Quality Parameters

Q Score

Q Score >3 is not allowed

FC Pre Login Interview Sheet

Fulfillment of RI documents

9.Recruitment Activity Monitor


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Ensure you update RAM daily

100 % adherence

2. KRAs CD Manager

CHAPTER 6 OBJECTIVE OF STUDY

To know the recruitment process

To study various sources of recruitment


Weightages

Outp

Inpu

Base

CDM

1 FC Recruitment 50% Outp

2 FC Licensing 25% Outp

3 I/O Ratio 15% Outp

4 Following Recruitment Activity Monitor (RAM) 10% Inpu

TOTAL 100%

KRA Weightages for Channel Development Manager

SN KRA / Sub - KRAs

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To know the selection criteria

To study the sources and process of recruitment

To study the advantage and disadvantage of internal and external recruitment according to

the employee of hdfcslic

To study the satisfaction of employee regarding the company s recruitment

CHAPTER 6 RESEARCH METHODOLOGY

RESEARCHResearch means a search for knowledge or gain some new knowledge and methodology can

properly refer to the theoretical analysis of the methods appropriate to a field of study or to

the body of methods and principles particular to a branch of knowledge . A research

methodology has a specified framework for collecting the data in an effective manner.

Research methodology means defining a problem, defining the research objectives,


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developing the research plan, collecting the information analysing the information and

presentation of findings. Such framework is called Research Design.

The research methodology used by me for the purpose of this project is as follows:-

Research Design:- The research design here for this project is a combination of exploratory

and explanatory designs.

The very first step is the reorganization of various type of information which is necessary for

the study of performance system. Then a personal interaction with the people concerned is

made to figure out the results.

Data collection method:-According to this project, I pursed primary and secondary data

collection method.

a) Primary Data

b) Secondary Data

Primary Data

Primary data is a data which did not exist earlier and is being collected by the researcher first

time for its specific objectives. In other words, direct collection of data from the source of

information, technology including personal interview, telephonic interviews ,observation,

Questionnaire and through schedules.

Secondary data

Any data which have been collected earlier for some purpose are the secondary data. Indirect

collection of data from sources containing past or recent past information like banks

broachers, annual publication, books etc.

Secondary sources are:

Text books


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Internet sites

News papers articles

Broachers

I have used web sites, some publications on the net, human resource manuals of Sebiz

Infotech, text books for secondary data collection

SAMPLING

1. Sampling

Sample is a group of few items which represents the population or universe from where it has

been taken. The sampling plan calls for three decisions;

a) Sample unit

b) Sample size

c) Contact methods

Sample Unit- who is to be surveyed?

It is necessary so as to develop a sample frame so that everyone in the target population has

an equal chance of being sampled . I have completed my survey in HDFCSLIC

Sample Size how many people have to be surveyed?

Generally, large sample size given more reliable results than small samples. The samples

consisted of 30 respondents.

Contact methods


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Once the sampling plan has been determined by the contact i.e.by the telephone interview ,

personal interview ,observation, mail etc.

My sampling design is based on simple random sampling because each element gets

probability to be included 7 all choices made are independent of each other.

After this I have collected the information from the respondents with the help of

Questionnaire.

Data analysis & Interpretation:-

Questionnaire:- the questionnaires are given to respondents and he/she is free to provide the

information whatever the concern is. One thing that is important that is it is not included the

name, address etc,

Direct interview: - the direct interviews are one up against all the data collection tools just

because one can judge that what a person is telling to the surveyor. It is time consuming.

Tools and Techniques of analysis:-

The data collected from different sources has been classified and arranged in tables in one or

more forms according to the requirements of analysis. For the analysis of results the

following techniques has been applied.

Tools and Techniques:-

Tabular Analysis.

Simple Statistical Techniques.

Graphical Representation.


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Trend Percentage.


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CHAPTER 7 INTRODUCTION

ABOQUESTIONNAIRE,SUGGESTION,CONCLUSION

,LIMITATION

Recruitment Questionnaire

The information supplied will be kept confidential and used for correct purpose only. Please tick the

answer which you find best.

Name Education Qualification

Age .... Designation ..

1. What do you understand by recruitment?

The process of searching for prospective employees and stimulating and encouraging them to

apply for job in the organization

Recruitment is a linkage activity bring together those with jobs and seeking jobs

The process of developing suitable techniques for attracting more and more candidates.

2. Which Sources of recruitment is followed?

Internal External

3. Do think test take during recruitment process match with your Job Profile

Yes No Not applicable

4. Do you think the test is the only Soul or Core basis of selection?


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Yes No

5. What type of behavior of interviewer?

Positive Negative

6. What attracted you the most initially?

Content of Job Hours of work

Promotion opportunity Salary

Size of organisation Location

Others (Please state)

7. If you were considering relocation to Chandigarh, what factors attracted you?

Opportunities for family members Low Crime rate

Cost of Living Housing

Others (Please state)

8. Which Types of interview Process is followed during your interview?

Informal interview Formal interview

Group interview Panel Interview


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9. Time within which feed back received?

On the Support

In 24 Hours

Within week

10. Are you place on right Job?

Yes No

11. How the sources of information are known to you?

By internet

By Newspaper

By Television advertisement

By Employees of company

12. What are the criteria for placement?

High Scores in Academic career Communication skills

Job experience All of the above

13. Are you satisfied with recruitment Procedure?

Yes No NO


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5.1 What do you understand by recruitment?

This question is framed to know the meaning of recruitment according to the companys

employees. For this purpose three statements are given to the respondents and they have to

select one of them which show a better meaning of recruitment according to them. The

results of the respondents are shown following with the help of table no 5.1 and figure.

Sr.No Statements No of respondent Pe

1

The process of searching for prospective employees and stimulating andencouraging them to apply for job in the organization 16 53%

2 Recruitment is a linkage activity bring together those with jobs and

seeking jobs10

35%

3 The process of developing suitable techniques for attracting more

and more candidates

4 12%


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Findings: as inferred from the above table 53% of the respondents consider the process of

searching for prospective employees and stimulating and encouraging them to apply for job in the

organization and 35% of respondents consider the recruitment is a linkage activity bring together

those with jobs and seeking jobs and 12% consider it as the process of developing suitable

techniques for attracting more and more candidates.

Analysis: Most of the respondent consider the recruitment as the Process of searching for the

Prospective employees and stimulating and encouraging them to apply for jobs in the organization

5.2 Sources of Recruitment : Recruitment means to search the prospective employees for

the organization and stimulate them to apply for job. It is observed from the table 5.2 that

Q. Which Sources of recruitment is followed?

Sources of Recruitment- Respondents View

Sr.no Nature of response No of respondents Percentage

1 Internal 11 18.92

2 External 19 81.08

3 Total 30 100


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5.2. Test take during recruitment process match with your Job Profile: Table and fig 5.2 depicts

that 15 employees are satisfied that test taken during recruitment process match with job profile and 5

are not satisfied

Q. Do think test take during recruitment process match with your Job Profile

Table 5.2

Sr.no Nature of Respondents No of Respondents Percentage

1 Yes 15 47.34

2 No 5 17.66

3 Not applicable 10 35.00

4 Total 30 100


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5.3 Selection It is evident from the table and fig 5.3 that 30 respondents i.e. 100% thinkthat test is not the core basis of selection.

Q.Do you think the test is the only Soul or Core basis of selection

Table 5.3


1 Yes 0 0

2 No 30 100

3 Total 30 100


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5.4 Behavior of Interviewer

Q. What type of behavior of interviewer?

Table 5.4


1 Positive 24 80

2 Negative 6 20

3 Total 30 100


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5.5 Initial attraction Table and fig 5.5 depicts that contents of job attracts most of persons

initially

Q. What attracted you the most initially

Table 5.5

Sr.no Nature of Respondents No. of Respondents Percentage

1 Content of Job 19 62.5

2 Hours of work - -

3 Promotion opportunity - -

4 Salary 8 25

5 Size of Organization - -

6 Location 3 12.5

7 Other - -


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5.7Interview: Candidates who have successfully cleared the test are called for an interview.

The entire responsibility for conducting the interview lies with the HR department i.e. they

look after the panel of interviewers, refreshments, informing candidates etc.

Q Which Types of interview Process is followed during your interview?

5.7Table

Sr.no Nature of Respondents No. of Respondents Percentage

1 Informal Interview 0 0

2 Formal Interview 15 50.0

3 Group Interview 7 23.3

4 Panel Interview 8 26.7

5 Total 30 100


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5.8Time within which feed back is received

Table5.8


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Sr.No. Nature of Respondents No.of respondents Percentage

1. On the Spot 15 50

2. Within week 5 20

3. In 24 hours 10 30

79

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Q. Are you place in right job?

Table5.9

Sr.No. Nature of respondents No. Of respondents Percentage

1 Yes 21 70

2 No 9 30

3 Total 30 100


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Q. How the sources of information are known about the vacancy of the company?

Table5.10


1 Internet 19 62.5

2 Word of mouth 8 25

3 Newspaper 3 12.5

4 Total 30 100


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Q. What are the criteria for Placement?

Table5.11


1 High score in academic O 0

2 Job experience O 0

3 Communication skills O 0

4 All of the above 30 100


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5.12 Recruitment Policies : Recruitment polices are clearly communicated in the

organization

Table5.12


1 Yes 30 100

2 No 0 0

3 Total 30 100


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5.13 Satisfaction regarding recruitment procedure: Recruitment means to search

prospective

Employees for the organization and to stimulate them to apply for job . It is evident from

table

and figure5.13 that 27 respondents i.e. 92.5 % showed their satisfaction over the recruitment

Procedure

Table 5.13


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1 Yes 27 92.5

2 No 3 7.5

3 Total 30 100

Conclusions

Most of the respondents considers the recruitment as the processof

searching for the prospective employees and stimulating and encouraging

them to apply for jobs in the organisation.

Most recruitment is done as and when required by the company.

Interview is the most important technique followed by the company for

selecting the employees followed by the skill test and reference checks.

Interview should be main criteria for selection besides checking the

qualification and most past experience.

Most of the respondents consider that external sources of recruitment lead to

insecurity among the existing employees besides demotivating them.

Most of the respondents consider promotions as the most important sources


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of recruitment .

Most of respondents consider advertisement as the ,most popular external

sources of recruitment available with their company and internet is least

popular.

Most respondents consider internal sources of recruitment act as a

motivational technique and are economical.

Most of the responpondents consider flow of new talent , skill , and

Knowledge as the main advantage of external sources of recruitment.

Most of the respondents consider cost as the most important factor forrecruiting the candidates.

Mostly Intelligence and aptitude test are conducted while recruiting the

candidates where as interest test and achievement tests are not very

common.

Most of respondents are satisfied with the recruitment policy.

Mostly Recruitment Policy is amended as and when the need arises.

Limitations of study

The study suffer from certain limitations, which are given below, so that the

finding of the study may be concluded in the right perspective.

The overall sample was restricted to the staff members.

Bias on the part of respondents to provide the informantion.

Sample size is too small.

Time factor was one of the constraints in conducting the research


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FC SDM CDM

Financial consultant of the

company

Sales developing manager

Of the company

Channel

developing

manager of

the company

Lower than sdm & cdm Higher than the fc &lower

than cdm

Higher than

fc & sdm

Apponted by cdm/bm Appointed by hr Appointed by

bm/hr/tm

Main purpose more and

more sales

Main purpose is to motivate to

taking the sale

More and

more fc

recruitment

Commission+incentives Salary+incentives+bonuses Salary

+incentives+

bonuses

88

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Suggesion


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A recruitment policy should integrate organizational needs and employee needs

A recruitment policy should be flexible enough to meet the changing needs of the

organization

Recruitment policy treats all employees fairly and equitably in all employee relationships

Recruitment procedure selected should be cost and time benefiting

The interview procedure should be satisfying. Their should be a friendly

Atmosphere while taking the interview and far as possible there

Should be no bias in the mind of interviewer

Tests should be conducted as they help to reduce bias in recruitment

And in a better maching of candidate and the job


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BIBLIOGRAPHY

1-www.hdfcslic.com

2-www.hdfc.com

BOOKS

Gupta CB Human resources management

Bratton john, gold Jeffery; Human resource management

Venkataratnam C.S.and srivastava B.K;Human resource

management


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