Effectiveness of recruitment process and analysis of employess settlement

1

A PROJECT REPORT

ON

EFFECTIVENESS OF RECRUITMENT PROCESS

AND

ANALYSIS OF EMPLOYESS SETTLEMENT

AT

BAJAJ ALLIANZ

SUBMITTED TO

UNIVERSITY OF PUNE

IN PARTIAL FULFILLMENT OF

MASTER IN BUSINESS ADMINISTRATION

BY

MS. PALLAVI NARENDRA PATANKAR

M B A -II

(2004-2006)

VISHWAKARMA INSTITUTE OF MANAGEMENT

PUNE.

INDEX

2

Chapter

No.

Chapter Name Page no.

1 Executive summery 1

2 Introduction of subject 3

3

3.1

3.2

3.3

3.4

Introduction of Bajaj Allianz

In trodu ct ion of In s u ra n ce, p rodu cts a n d

benefits

National Network and Distribution

Channel

Organization grading structure

Introduction to Human Resource

Department

15

19

22

24

26

4 Introduction of objective of project

30

5 Research Methodology 32

6

7

Analysis and Interpretation of Data

Observation & Findings

35

63

8 Conclusion 66

9 Suggestions 68

10

11

Annexure

Bibliography

71

80

3

ACKNOWLEDGEMENT

It would be grateful on my part to go ahead with this report expressing my

gratitude to all those who have helped me in completion of my Project.

I heartily thank BAJAJ ALLIANZ. For giving me an opportunity to carry out

my summer project in well esteemed and diversified organization.

I owe a debt of gratitude to Shri D.R. Kurane (HEAD HR) and Mrs. Sanjot

Bhole (SR.Excetive) HR in head office pune.

I am also thankful to the entire staff of HRD Centre, for the wonderful work

environment and all those whose guidance and encouragement helped a lot in

the completion of my summer project.

I am also thankful to our director, Dr. Sharad Joshi and my project guide Dr.

Vandana Gote and Prof. Gandhe for helping me in completing the project.

4

CERTIFICATE

This is to certify that Ms. Pallavi N Patankar is bonafide student of our institute.

She has successfully carried out her Summer Project titled Effectiveness of

Recruitment Process and Analysis of Employees Settlement At Bajaj Allianz,

Pune.

This is the original study of Ms. Pallavi N Patankar, and an important source

used by her has been acknowledged in her report. The report is submitted in the

partial fulfillment of two-year full time course of Master in Business Administration

(2004-2006) as per rules of the Pune University.

Dr. Sharad L. Joshi Dr. Mrs. Vandana Gote

(Director) (Project Guide)

EXCECUTIVE SUMMARY

Bajaj Allianz Life Insurance Co.Ltd and Bajaj Allianz General Insurance is very

well known Insurance Co in Pune & in India also with its largest insurer in the

5

world had joined hands with famous Bajaj Auto one of the trusted name in

automobiles and house industry in India. This project is titled as Effectiveness of

Recruitment process and Analysis of Employees settlement in Baja Allianz Life

Insurance & tries to find out the different aspects of Recruitment process and

settlement analysis in company.

Different officials working in the HR department have provided very important

data in this respect. Formal and Informal interviews as well as the research

(through questionnaire) are the basic methods of data collection used in this

project work. Also secondary data provided by the company officials is of

immense importance. Every effort has been made to understand the long term

plans of company for implementing Recruitment process and Employees

settlement.

As the Insurance Co is a service industry; the employees serving in the company

are the most important elements and that is why recruitment process becomes

very important in the long run. The settlement analysis also gives the company

the final version of Exit process. Taking into consideration this aspect, the

effectiveness of recruitment program and analysis of employee s settlement.

recently being carried out is been observed.

From this project work; company officials will get new insights about Recruitment

process and Full and Final settlement of employee s analysis. I have also

acquired the knowledge of how the Recruitment process and Full and Final

settlement of employees is carried in Bajaj Allianz Life Insurance Head Office

Pune.

6

7

INTRODUCTION

OF

SUBJECT

8

2 INTRODUCTION TO SUBJECT

Any organization whether business or otherwise requires number of resource

for its effective and efficient resources and out of various resources used the

Human Resource constitute to be most important resource. Hence the

selection of the human resource meeting the objective the organization is one

of the important processes.

In these processes the various term related to HRM are outlined as under:

1. Recruitment Process.

2. Full and Final settlement of the employees.

9

RECRUITMENT

RECRUITMENT:

The term recruitment is an inseparable process in the world of globalization.

Today it has been a linking activity brining together those with job and those

seeking job. The recruitment process attracts potential employees to the

organization. The smooth recruitment process can be carried out by personnel

department or HR head in the organization. The recruitment process starts first

with manpower planning.

MANPOWER PLAN AND REQUISITION:

Every position to be recruited shall be on the basis of an approved Manpower

budget, which shall be sanctioned by the CEO of the company.

Recruited against budgeted position will be required to be raised by the

Department manager using the Manpower Requisition Form, the manpower

requisition form has to be approved by the functional head and CEO of the

Company in consultation with Head

HR. The approved manpower requisition

form shall form the basis for the commencement of the recruitment process.

10

Definition:

Recruitment defined by Flippo as a process of searching for prospective

employees and stimulating them to apply for job in the organization .

As per Yoder a process to discover the sources of manpower to meet the

requirement of staffing schedule and to employ effective measure for attracting

that manpower in adequate number to facilitate effective selection of an efficient

working force , thus the purpose of recruitment is to locate sources of manpower

to meet job requirement and job specifications.

OBJECTIVE:

The objective of recruitment process helps the organization to identify whether

the selected employee working capabilities are satisfying the companies targets.

FACTOR AFFECTING RECRUITMENT:

1. The size of organization

2. The employment conditions in the community where the organization is

located.

3. The effect of past recruiting efforts which shows the organization ability to

locate and keep good performing people.

4. The working condition, salary and benefits package offered by the

organization.

5. The rate of growth of organization.

6. The level of seasonality of operation and future expansion and production

programmes and the culture, economic and legal factors, etc.

11

DIFFERENCE BETWEEN RECRUITMENT AND SELECTION

Recruitment is the process of searching for prospective employees and

stimulating them to apply for job in the organization. It s often term positive in

that its objective is to increase the selection ratio, that is, the number of

applicant per job opening. Maintains that hiring through selection. Selection is

a process to eliminate applicants, leaving only the best to be placed in the

organization.

SOURCES OF RECRUITMENT:

When organization is needed to fill a vacant organizational position, the

individual may come from inside or outside the organization. There are two

source of recruitment as follows:

1. Internal sources

2. External sources.

The Internal source of recruitment means promotion of worker or

employee from lower level to higher level. The recruitment process is

carried within the organization. Mostly this process is used to fill vacancies

of middle and top level personnel.

The External source of recruitment is used to fill vacancies at lowest level

or at the time of expansion of the organization of the firm or where job

specification cannot meet by present employees. The commonly used

outside sources are as follows:

1. Contact through present employees.

2. Former employees.

12

3. Intermediaries.

4. Recruitment at gate.

5. Unsolicited Application.

6. Advertisement.

7. School, College, University and Technical Institution.

8. Employment Exchange.

9. Private Agencies.

10. Professional Bodies.

11. Personnel Consultant.

12. Part time employee.

13

RECRUITMENT PROCESS:

Manpower Plan

Position Description

Manpower Requisition

Blank Application

Preliminary Interview

Application Form

Personal Test: a) Intelligence test.

b) Aptitude test

c) Personality test.

Employment Interview.

Selection

Medical Examination

Appointment letter

14

SELECTION PROCESS:

The selection process is essentially a series of method of securing pertinent

information about the applicant. At each stage, facts may come to light and more

is learned about the applicant. The information obtained can be compared with

the job specification, the standard of personnel. If the applicant qualifies, he

advances to the next step; otherwise he is rejected. Thus, the job specification

and the job applicant are present at each step in the selection procedure. Each

step constitutes the means by which the applicant s Qualification can be

compared with the minim requirement established in the job specification. The

procedure may be compared to a series of successive hurdles or barriers which

an applicant must cross. These are intended as screens, and they are designed

to eliminate an unqualified applicant at any point in the process.

Definition:

Having identified the potential applicant, the next step is to evaluate their

experience and qualification and make a selection. It refers to the process of

offering job to one or more applicant from the application. Great attention has to

be paid to selection because it means establishing the best fit between Job

requirements on the one hand, and the candidate Qualification on the other.

15

INTRODUCTION TO SUBJECT

An organization is a combination of individual and groups. People in the

organization work; perform with facilities necessary for its execution, that the

duties performed provide the best channels for efficient, systematic, positive and

co-ordinate application of available effort.

But in an organization there are various problems like languages, socio-political,

cultural background, lack of professional skill, miscommunication, and

technology, no promotion, personal problems etc, which arises problem of

Separation to employees from an organization.

SEPARATION:

Normally the company is interested in maintaining manpower and nourishing

them. There are certain situation employee s leaves organizations due to various

reasons as specified above.

The company wants to settle there dues and whatever are due to employees

they should take it.

The settlement of dues is known as Full and Final Settlement of employees.

16

FULL AND FINAL SETTLEMENT OF EMPLOYESS.

WHAT IT MEAN:

The term Full and Final Settlement of employees means when an employees

leaves service of a particular organization and company wants to settle all there

Dues and take all those monetary benefits which he has not received and some

are received while leaving the organization only and the employee wants to settle

that Finally.

When an employee submits resignation letter, or is terminated, or has

abandoned his services voluntary. The Full and Final settlement dues are

calculated by HR person in the organization. The HR person finally prepares a

statement of Full and Final settlement of employees.

This process of calculation of amount payable and amount recoverable is called

Full and Final Settlement of employees.

17

PROCESS OF FULL AND FINAL SETTLEMENT IN BAJAJ

ALLIANZ.

In Bajaj Allianz the Full and Final settlement of the employees who has left

service there Full and Final statement is prepared by authorized executive in HR

department. The Full and Final statement is prepared by Head office authorized

executive in HR department only. The settlement is done as per following

procedure.

In Bajaj present scenario of settlement is as follows:

The form of settlement i.e. Exit report is divided in 2 parts

In first part Head of department / Branch head fills the form of employee giving

information like:

Name of employee. Code, Designation, Branch, Type of exit, Notice pay to

be recovered or not, last date attended, performance rating, and hard copy of

resigned letter etc. and forward to HR executive in Head Office for further action

through proper channel.

In second part consists of Head office clearance like:

1st a) Sales administration clearance whether bonus paid or recovery.

b) If any other recovery.

2nd a) Finance clearance whether any amount to be recovered like travel

advance, housing loan etc.

3rd HR clearance a) Calculate EL and variable pay and ensure it is given or not.

b) To verify all other department has given clearance or not.

c) To see Annual salary statement and verify other allowance like medical,

telephone, etc are given or not.

18

d) To see Annual salary statement and verify deduction has been done or not.

Deduction like provident fund, professional tax, parivartan. Etc

d) TO verify whether salary for last month is given or not.

e) To deduct if Advance salary is given.

f) Finally do the processing as per rules of Income Tax like:

a) Deduction under u/s 16.

b) Deduction under chapterVI-A

c) Tax on Total income.

g) After the above process verified prepare a statement of Full and Final

settlement with the details of employee who left the service and prepare Earning

and Deduction head and calculate the dues of the left employee.

h) Finally give letter of clearance and Issues cheque to the

Employee.

All the 55 branches of Bajaj Allianz has to submit the Exit report to HEAD office

with detailed information specified as above as there is centralized process.

19

INTRODUCTION

OF

BAJAJ ALLIANZ

20

3 Bajaj Allianz Life Insurance Co.Ltd

Bajaj Allianz Life insurance Company Limited is a joint venture between Allianz

AG of Germany and Bajaj Auto Limited.

Characterized by global presence with a local focus and driven by customer

Orientation to established high earning potential a financial strength, Bajaj Allianz

Life Insurance Company was incorporated on 12th March 2001.

The company received the Insurance Regulatory and Development Authority

(IRDA) Certificate of Registration (R3) NO116 on 3rd August 2001 to conduct

Life Insurance business in India.

Allianz AG one of the largest insurer in the world had joined hands with Bajaj

Auto one of the highly trusted name in the automobiles and household industry in

India for a joint venture for their insurance operation and is one of the few

Companies which is engaged in both Life and Non life Insurance Company

banner Allianz Bajaj Life Insurance Company Limited and Bajaj Allianz General

Insurance Company Limited. The Investment ratio between Bajaj and Allianz is

26:74.

21

CORE VALUE OF BAJAJ ALLIANZ LIFE INSURANCE

AND WHAT IT STANDS FOR

Core value of Bajaj Allianz

Understanding the customer s needs.

Meeting the customer s requirement.

Ensuring optimal performance at lowest cost.

Commitment to excellence.

What Bajaj Allianz Stands For

Dynamic and successful organization.

A socially valued enterprise.

Business integrity.

22

VISION AND MISSION

Bajaj Allianz Life Insurance Co.Ltd

Shared Vision:

To be the best Life Insurance Company in India to buy from, work for invest in.

Shared Mission:

1. To be in the top 3 new Life Insurance company in India by new business and

in force business by 2006.

2. To have PAN India presence.

3. To provide highest: quality service by ensuring :

o Highest customer retention in industry (90% first year)

o Every customer will be contacted by us at least once per

year.

o We respond to customer/ agent within 48 hours

o Embrace technology to optimize efficiencies.

23

INTRODUCTION

OF

INSURANCE , PRODUCT AND

BENIFITS

24

3.1 INSURANCE

INTRODUCTION TO INSURANCE:

Insurance is an instrument, which protect the financial loss arising out of an

uncertain event contingent to human beings and is mechanism to share the

financial loss of an individual or group of people due to an unforeseen event

between the individual or group of people who are exposed to the same kind

of risk.

PRODUCT:

Bajaj Life Insurance Company Limited offers the product as follows:

1. Invest Gain

2. Cash gain

3. Lifetime Gain

4. Child Care

5. Risk Care

6. Term Care

7. Save Care Economy Single Premium

8. Swarana Vishranti

9. Unit Gain

25

BENEFITS:

1. Insurance protection to dependent, Thrift saving, tax Benefits.

2. A husband, for instance, may buy an insurance policy to ensure his wife and

children are taken care of should anything happen to him.

3. Parents buy insurance for the future saving of their children education and

social obligation.

4. Motor Insurance ensures the money back to CURE UR CAR.

5. Protects the financial loss of household articles by theft or natural calamities.

6. Protects the financial loss of buildings and other valuables by fire.

7. protects against medical bill for hospitalization due to unexpected diseases or

accident

8. Accidental

Insurance with hospital benefits eases with bill of medical

expenses.

26

INTRODUCTION

OF

NATIONAL NETWORK

AND

DISTRIBUTION CHANNELS

27

3.2 NATIONAL NETWORK

Bajaj Allianz Life Insurance Co.Ltd is a large and diversified organization.

Bajaj Allianz Life Insurance Co has a national network. Bajaj Allianz has 55

branches all over India. The Head Office is located in PUNE.

DISTRIBUTION CHANNELS

The Distribution Channels of Bajaj Allianz is done all over India. The Channels is

the vital process of the company. The Channels Description is as follows:

Channel Description

Individual Channel Individual Agencies

Corporate Agency Channel Through corporates,large

partnerships/private limited

companies

Bancassurance Through Banks

28

INTRODUCTION

TO

ORGANISATION GRADING STRUCTURE

29

3.3 GRADING STRUCTURE

Bajaj Allianz Life Insurance Co.Ltd

The internal grading structure in the organization is done by Management & HR

head. This grading system is followed by all 55 branches of Baja Allianz and

Head office also. The grading system consists of following:

Description Level

Department heads leadership role L5

Department heads/ regional heads/

sales head

L4

Managers/ functional heads L3 A

B

Assistant Manager supervisory role L2 A

B

Support staff L1 A

B

30

INTRODUCTION

TO

HIUMAN RESOURCES DEPARTMENT

31

3.4 HUMAN RESOURCE DEPARTMENT IN

BAJAJ ALLIANZ.

Policies:

In Multinational Company like Alliaz Bajaj HR planning and policies plays

a major role in the growth of the organization.

HR planning foreseen the man power requirement. The need like food, sanitation

is the basic function of the HR planning.

Motivation is the inseparable part of Allianz Bajaj`s HR policies, Cricket match

between Allianz Bajaj recently proved the truth.

The HR department should update the manual of the company. As these manual

contains Govt made rules and regulation. The management can also make

changes in the manual. The manual contains the rules & policies of the company.

The manual is the internal document of the company.

The other policies for HR department are that the company shall have Manpower

planning for one-year period, based on the business plan for the year. There

shall be no recruitment outside the manpower plan without prior approval of head

HR and CEO.There is Joining Formalities, Internal grading structure, salary

processing formalities, service condition, Additional HR policies, policies for

Resignation/Termination. Apart from the work the individual view is taken into

consideration. Any problem in the organization to an of their team member

personal consul ling is done & tries to satisfy their need i.e. (sociological &

psychological needs). In this organization all decision are taken by Head office

HR for all 55 branches. Even they take decision regarding Day to Day activity.

32

The ultimate objective of the co. is in the growth of organization. If policies

are not made and implemented and proper care is not taken of human assets i.e.

employees than there is no progress to the employees and organization. So

policies are important as well their employees who are key person who follows

policies.

Objectives:

The Human Resource objective consists of the following:

1. Manpower planning.

2. Recruitment and selection.

3. Employee Development.

4. Performance Appraisal.

5. Develop belongingness for work.

6. Excellence performance award every month.

7. To build organization with integration, honesty & Quality of work.

8. Planning future goals for career development.

9. Teamwork & cooperation with people in the organization.

10. To provide security for work.

11. Promotion.

33

STRUCTURE OF HUMAN RESOURCE DEPARTMENT

Head-HR L4B

National Mgr.Corporate

Hfgkfg

Asst. Mgr- HR

L2B Dy. Mgr Hr

L2B

Jr Exce-Hr L1B

Jr.Exce-HR L1B

Sr.Exce-HR L1A

Sr.Exce-HR L1A

Mgt.Trainee

34

INTRODUCTION

OF

OBJETIVE OF PROJECT

35

4 OBJECTIVES OF THE PROJECT

Every project report is carried out with some specific OBJECTIVE in the

mind. Objective is basically the purpose behind conducting a project and unless

the objective is certain or specifically defined it is not understood what data has

to be collected. Objectives of the project are nothing but what is to be learned

out of this project report.

Specific objectives of this Project Report

To understand:

1. Understand various HR tools used in handling Recruitment?

2 To have exposure to recruitment process?

3 To have exposure to employees dues settlement process?

4 Whether the recruitment process and settlement process are

satisfactory?

5 To understand how effective the computer system or new technology is in

the recruitment system& settlement process?

So in this project report I have made every effort to understand the above

specified objectives keeping in mind the present scenario of the Recruitment and

Full and Final Settlement of employee s process and collect data.

36

Research Methodology

37

5 Research Methodology.

Research Methodology is a systematic method of discovering new facts or

verifying old facts, their sequence, inter-relationship, casual explanation and the

natural laws which governs them.

Research Methodology explained by Redman and Mory are as follows

systematized effort to gain new knowledge

Research Methodology is original contribution to the existing stock of knowledge

making for its advancement. It is the purist of truth with the help of study.

Observation, comparison and experiment. In short also covers the systematic

method of finding solution to a problem is research. It also covers the systematic

approach concerning generalization and the formulation of the theory. Different

stages involved in research consists of enacting the problem, formulating a

hypothesis, collecting the facts or data, analyzing the facts and reaching certain

conclusion either in the form of solution towards the concerned problem or in

generalization for some theoretical formulation.

In Research Methodology mainly Data plays an important role.

The Data is divided in two parts:

a) Primary Data.

b) Secondary Data.

Primary Data is the data, which is collected directly by direct personal interview,

interview, indirect oral investigation, Information received through local agents,

drafting a schedule, drafting a questionnaire.

38

Secondary Data is the data, which is collected from the various books,

magazine and material, reports, etc. The data which is stored in the organization

and provide by the HR people are also secondary data. The various information

is taken out regarding that subject as well other subject from various sources and

stored.

The last years data stored can also be secondary data. This data is kept for the

internal use of the organization. The HR manual is for the internal use of the

organization they are secondary data which help people to gain information.

In this report the data plays a very crucial role. For this report the data was

provided to me by HR department and other departmental head in the

organization.

The Primary and Secondary data which is specified above was provided by:

a) Assistant Manager HR- Recruitment

b) Junior Executive HR- Full and Final.

c) Other department head.

Due to discussion with these people lot data as well latest information was known

by these people which was very beneficial and was primary data to me. The

questionnaires the primary data was the main key which help to analysis data.

This is the Research Methodology used in the project. The primary and

secondary data method has been used in this project. Unless the data is

collected no project can be complete. So both these data is very important in the

project.

39

ANALYSIS AND INTERPRETATION OF DATA

40

6 ANALYSIS AND INTERPRETATION OF DATA

Since Recruitment and Full and Final system is important activity in any

organization. The emphasis was lead on findings of views of various employees

about the Recruitment process and Full and Final settlement followed in Bajaj

Allianz.

Because in origination there are written and unwritten process related to

Recruitment and Full and Final Settlement of Employees on which employees

view are important as a good policy of HRM.

Accordingly, the survey which was carried out was an eye opener and details

analyses of my survey are explained in forth coming Para.

A Research was conducted in Head office Pune of various departments including

HR department.

Sample sizes of 10 people were taken for effectiveness of Recruitment.

Sample sizes of 10 people were taken for Full and Final Settlement

Data was collected on the basis of Questionnaire and Informal discussion.

41

ANALYSIS AND INTERPRETATION OF DATA

Effectiveness of Recruitment.

Q.1. Are you satisfied with Recruitment system in Bajaj Allianz?

a) Not at all b) satisfied c) Totally Satisfied d) Totally Good

e) Excellent.

Options b d e Total

Response 3 3 4 10

% 30 30 40 100

0

10

20

30

40

50

a b c d e

Response

Per

centa

ge

Response Percentage

Interpretation:

From the above response it is seen that most of the employees are overall

satisfied by the recruitment system in the company. They have clarity of the

process.

42

Q.2. Whether the Recruitment process is documented?

a) Yes b) No

Option a b Total

Response 6 4 10

% 60 40 100

0

10

20

30

40

50

60

70

a b

response

per

centa

ge

response %

Interpretation:

From the above response it is seen that majority of the employees feel that

Recruitment process is documented in the company. However they can access

when ever they want. 40% of the people don t have knowledge about it.

43

Q.3. Whether the Recruitment process is documented if YES than the

substances level of its knowledge to others is:

a) Clear b) Vague.

Option a b Total

Response 4 2 6

% 66 33 100

0

10

20

30

40

50

60

70

a b

response

per

cen

tag

e

response %

Interpretation:

From the above response it is seen that 66% employees are having only clear

and under stable knowledge of the documented process of the recruitment. The

other employees are finding it vague.

44

Q.4. Whether the Recruitment system is transparent at all level?

a) Not at all b) To some extent c) To great extent.

Option a b c Total

Response 2 6 2 10

% 20 60 20 100

0

10

20

30

40

50

60

70

a b c

response

per

cen

tag

e

response %

Interpretation:

From the above response it is seen that employees of the company has some

doubts about the transparency of the Recruitment system. The company should

investigate further.

45

Q.5. Is the Recruitment process uniform at all level?

a) Yes b) No c) varies as per department.

Option a c Total

Response 3 7 10

% 30 70 100

01020304050607080

a b c

Response

Per

cen

tag

e

Response Percentage

Interpretation:

From the above responses it is seen that recruitment process varies many of the

times from department to department so it helps the department heads to select

the right person for the job as per his requirement and needs.

46

Q.6. Whether the other department head is constitutes in the interview of the

recruitment process?

a) Totally linked b) partially linked c) Not at all.

Options a b c Total

Response 3 4 3 10

% 30 40 30 100

0

10

20

30

40

50

a b c

response

per

centa

ge

response %

Interpretation:

From the above responses it is seen that only few department head s are

considered during the interview process and majority of the time they are partially

linked i.e. they only have to set paper and decided the package.

47

Q.7. Whether the response of HR department or person on vacancy is?

a) Not slow b) slow c) Quick d) Very responsive e) Excellent.

Options b c e Total

Response 3 5 2 10

% 30 50 20 100

0

10

20

30

40

50

60

a b c d e

Response

Per

centa

ge

Response Percentage

Interpretation:

From the above response it is seen that more than 50% the employee fells that

the response is quick. But in few cases it is slow.

48

Q.8. Whether the written test design gives real advantage or satisfaction?

a) Not at all b) satisfaction c) Total Satisfaction d) Totally good

e) Excellent.

Option a c Total

Response 8 2 10

% 80 20 100

0

20

40

60

80

100

a b c d e

Response

Per

centa

ge

Response Percentage

Interpretation:

From the above response it is seen that majority of the employees find the

written test are not at all beneficial or advantage as it is time consuming. Only

few agree to the test design.

49

Q.9. Whether the duration of the written is?

a) Too short b) Not long c) Long d) Too long.

Options a c d Total

Response 1 4 5 10

% 10 40 50 100

0

10

20

30

40

50

60

a b c d

Response

Per

cen

tag

e

Response Percentage

Interpretation:

From the above response it is seen that many times the duration of the test is

long and the employees find it time consuming. The instant like Insurance test for

junior and new entry finds it long and time consuming.

50

Q.10. How is the test evaluation of the recruitment process?

a) Fair b) Justified c) Not justified.

Option a b Total

Response 2 8 10

% 20 80 100

0

20

40

60

80

100

a b c

Response

Per

centa

ge

Response Percentage

Interpretation:

From the above response it is seen that the test evaluation is not done properly.

There is bias is opinion while evaluating the paper.

51

Q.11. what is the criteria of selection in Bajaj Allianz of the requirement process if

Knowledge considered rate in percentage.

a) 20-30% b) 31-50% c) 51-70% d) 71-80% e) 81-100%

Options b c d Total

Response 2 5 3 10

% 20 50 30 100

0

10

20

30

40

50

60

a b c d e

Response

Per

cen

tag

e

Response Percentage

Interpretation:

From the above response it is seen that 51-71% weight is given on knowledge. If

the criteria is only knowledge for selection.

52


Knowledge + Experience considered rated in percentage.

a) 20-30% b) 31-50% c) 51-70% d) 71-80% e) 81-100%

Option d e Total

Response 7 3 10

% 70 30 100

01020304050607080

a b c d e

Response

Per

cen

tag

e

Response Percentage

Interpretation:

From the above response it is seen that if Knowledge + Experience considered.

Than majority of the employee gives weight on 71-80%.

53


Experience considered rated in percentage.

a) 20-30% b) 31-50% c) 51-70% d) 71-80% e) 81-100%

Options b c d Total

Response 3 6 1 10

% 30 60 10 100

0

10

20

30

40

50

60

70

a b c d e

Response

Per

cen

tag

e

Response Percentage

Interpretation:

From the above response it is seen that if Experience considered. Than majority

of the people have rated in between 70% as experience is relevant criteria and

other 30% case experience is not given importance i.e. experience is major

criteria.

54

Q.14. Whether the middle level i.e. executive is aware of the recruitment

Process?

a) Not at all b) To some extent c) Thoroughly known

Options a b c Total

Response 4 3 3 10

% 40 30 30 100

0

10

20

30

40

50

a b c

response

per

centa

ge

response %

Interpretation:

From the above response it is seen that information of standard Recruitment

process is not communicated to middle level executive.

55

Q.15. The major Man power source in Bajaj Allianz of recruitment process is?

a) Newspaper b) Internal recruitment c) Campus interview d) Firm or

Agencies on contract basis.

Option a b c d Total

Response 1 3 2 4 10

% 10 30 20 40 100

0

10

20

30

40

50

a b c d

Response

Per

cen

tag

e

response %

Interpretation:

From the above response it is seen that majority of the employees are employed

from the agencies and later from the internal process. The least preference is

given to the campus and newspaper.

56

Q.16. Which is the most powerful method of the interviewing the candidate and

selecting the candidate in Bajaj Allianz?

a) Telephonic Interview b) Personal interview c) Video conference interview.

Options a b c Total

Response 3 4 3 10

% 30 40 30 100

0

10

20

30

40

50

a b c

Response

Per

cen

tag

e

response %

Interpretation:

From the above response it is seen that the most powerful method of selection is

personal interview and than telephonic interview and video conference interview

beneficial in case of long distance.

57

Q.17. Whether the selection in Bajaj Allianz is done on the basis of the merit?

a) Yes b) No c) Can t say

Options a b c Total

Response 6 1 3 10

% 60 10 30 100

0

10

20

30

40

50

60

70

a b c

Response

Per

cen

tag

e

response %

Interpretation:

From the above response it is clear that majority of the selection are based on

merit.

58

ANALYSIS & INTERPRETATION OF DATA

Full and Final Settlement

Q.1. How is Full and Final Settlement System in Bajaj Allianz?

a) Poor b) Average c) Satisfactory d) Good e) Excellent

Options b c d Total

Response 2 6 2 10

% 20 60 20 100

0

10

20

30

40

50

60

70

a b c d e

Response

Per

centa

ge

Response Percentage

Interpretation:

From the above response it is seen that many left employees are satisfactory

about the Full and Final system in Bajaj Allianz. Few people it average and good.

59

Q.2. The content of Full and Final settlement is uniform at all level?

a) Yes b) No c) Various as per Grades or Position in the company.

Option a c Total

Response 7 3 10

% 70 30 100

01020304050607080

a b c

Response

Per

cen

tag

e

Response Percentage

Interpretation:

From the above response it is seen that Full and Final system content is uniform

most of the time. But in some cases it differs due to higher grades in the

company.

60

Q.3. The duration taken for the Full and Final Clarence system is?

a) 1-2 days b) 3-5 days c) 5-7 days d) 7-15 days

e) More than 15 days.

Options c d e Total

Response 4 2 4 10

% 40 20 40 100

0

10

20

30

40

50

a b c d e

Response

Per

cen

tag

e

Response Percentage

Interpretation:

From the above response it is seen that Full and Final process takes time to

complete the settlement. Many times it takes 3-5 and 7-15 days to complete it.

61

Q.4. The process of the Full and Final settlement is?

a) Small process b) Lengthy process c) Time consuming process.

Options a b c Total

Response 3 5 2 10

% 30 50 20 100

0

10

20

30

40

50

60

a b c

Response

Per

cen

tag

e

response %

Interpretation:

From the above response it is seen that many left employee find process lengthy

i.e. 50%. The rest of the employee fined it time consuming and 30% find it small

process.

62

Q.5. How is the dispatch system of document from all over India branches to

Head office of HR department for the process and calculation of the Full and

Final settlement are?


Options b c d Total

Response 5 3 2 10

% 50 30 20 100

0

10

20

30

40

50

60

a b c d e

Response

Per

centa

ge

Response Percentage

Interpretation:

From the above response it is seen that dispatched of the documents to head

office is average. Most of the employees are not satisfied with the dispatched

system is not satisfied.

63

Q.6. The data provided to Head office HR department from other Branches are

always correct for Full and Final process?

a) Yes b) No

Option a b Total

Response 6 4 10

% 60 40 100

0

10

20

30

40

50

60

70

a b

Response

Per

cen

tag

e

response %

Interpretation:

From the above response it is seen that many times the data provide to HR

department are write. Only in certain cases it is incorrect due to technical

problem and due to clerical work.

64

Q.7. How is the process of giving clearance by sales admin and finance

department after documents reaching and verified by HR department?


Option b c Total

Response 3 7 10

% 30 70 100

01020304050607080

a b c

Response

Per

centa

ge

Response Percentage

Interpretation:

From the above response it is seen that most of the time the left employees find

the process time consuming. Though some find it lengthy.

65

Q.8. The calculations and amount of the Full and Final settlement in Bajaj Allianz

done by HR of head office after getting clearance from 2 department are?

a) Always right b) Sometimes perfect c) Not at all right.

Option a b Total

Response 8 2 10

% 80 20 100

0

20

40

60

80

100

a b c

Response

Per

cen

tag

e

Response Percentage

Interpretation:

From the above response it is seen that the calculation of the Full and Final

settlement is always right. The left employees are satisfied about the calculation

and the amount received to them.

66

Q.9. After the Clearance is over the Cheque issued in the name of the left

employees are received in how many days?


Option a b c Total

Response 3 5 2 10

% 30 50 20 100

0

10

20

30

40

50

60

a b c d

Response

Per

cen

tag

e

Response Percentage

Interpretation:

From the above response it is seen that it takes maximum 3-5 days for a cheque

to reach a Left employee place. The some employees are satisfied about cheque

process receiving and some employees are not satisfied.

67

OBSERVATIONS AND FINDINGS

68

7 OBSERVATION AND FINDINGS

Bajaj Allianz Life Insurance Co.Ltd and Bajaj Allianz General Insurance is leading

Company in the marker today. The HR department is having very strong base

and while doing project in the company the observation and findings found by me

are as follows.

1) The company has clarity of the recruitment process and they are doing

well and recruiting correct candidates.

2) The recruitment process is centralized in the company.

3) The test duration for the senior level officer and fresher is too long.

Though is beneficial but time consuming.

4) The tests provided are online test and the evaluation of the test is also

done by the Head office HR.

5) The evaluation takes time as they take print out of test paper and gives

marks.

6) The department head are not considered most of the time during the

interview. The role of the head was to inform about vacancy to HR.

7) Most of the time the criteria of selection are on the basis of the Knowledge

+ Experience. This is good for the company.

8) The company provides a good basis for the FRESHER. Which is a

positive side for the both the concern.

9) The middle level employees of the Head office and the other branches are

not aware of the recruitment process.

10) The personal interview is more beneficial than other method of the

interview.

69

11) The company concentrates more on recuirtment firm for the need of man

power.

12) The video camera is used for the interview as the time is less for

interviewing the person.

13) Sometimes candidate selection is not as per the profile for the junior level

staff. E.g. A HR executive is given assistance who is doing CA or B.com

But not MBA or MPM students.

14) The other branches have to give 15 days notice for the place vacancy.

15) The candidate selected for the job from all over India are not given

training at there work place but at Head office and bare their expense.

16) The selection of the candidate in Bajaj Allianz is done up to the mark.

There is no bias s view for other.

17) The Full and Final settlement of employee s process is centralized in the

Bajaj Allianz.

18) The company is having only single authorized executive HR person to do

the Full and Final settlement employee s process since 3yrs for the 55

branches.

19) The left employees

documents are to be send to the Head office from the

other branches in India.

20) The data provided by other branches in the form papers are slow in

speed.

21) The sales department and finance department their clearances process is

also slow.

70

CONCLUSION

71

CONCLUSION

The overall Recruitment process in Bajaj Aliianz is satisfactory. There are certain

organization objectives

both in short term and long term should be taken into

consideration as a basic parameter for recruitment decision and need of the

personnel area which will be beneficial to everyone in organization.

There are minor modifications in the areas like documentation of recruitment

process, other department head participation in interview, written test, evaluation

of return test and use of latest equipment for interview etc to be made for which

suggestions are given in the following paragraphs.

As a matter of good HR practices leaving of employees should be prevented. But

the company should carry out exit interview and take correct action to retain the

employees in the organization. Once the employees leaves the organization

process of Full and Final Settlement of employees should be completed quickly.

The company should make the process of employee s settlement fast as the

documents reach the sales department and finance department.

72

SUGGESTIONS

73

9 SUGGESTIONS

RECRUITMENT PROCESS SYSTEM

1) The recruitment process in Bajaj Allianz should be decentralized as per the 4

region. The branch manager and HR person of that region should have rights

to carry out the recruitment process and must inform the head office and

should get it approval.

2) The middle level employees should have knowledge of the recruitment

process and the non HR employees should be given a HR manual.

3) The other department head should be involved in the interview process as he

knows right person for the job of his department.

4) The selected candidates should bee given training at their work place by the

the trainer of the department.

5) The test duration should be kept short for the senior level employees so that

more time is not taken and they can concentrate on the work.

6) The company should develop or provide software which should provide a test

score as the test is over. So the time is saved in evaluation.

7) The company should concentrate on the personal interview as video

conference interview cost more money and the candidate is more nervous.

SUGGESTION : FULL AND FINAL SETTLEMENT

8) In Baja Allianz there is only single authorized HR executive in HR department

for doing Full and Final settlement of employees and the company should

provide assistance so the work is completed fast.

OR

74

9) The Full and Final settlement should be decentralized as per the 4 region and

process should be completed by region authorized HR person and Cheque

should be singed by Head office HR.

10) The Full and Final system is done by head office HR person and

documents provided to Head office is slow in speed so the speed post service or

courier service should be changed or tell them to provide better service.

11) The sales administration and Finance department of head office must

Increase the speed of the clearances by providing them assistance on

contract basis. So the speed will increase and HR person can do calculation

fast and process can be short and not too long.

12) The branch manager should provide correct information of the left employees

so that calculation can be done perfectly and HR person should not be always

asking the branch manager for correct information.

13) To avoid the incorrect information by branch manager the company should

have proper MIS system. So that when time needed both the person can

access it. Proper Software should be develop and training must be given to

them regarding it use.

75

ANNEXURE

76

ANNEXURE 1

The Questionnaire of Recruitment Processes System

Q.1. Are you satisfied with Recruitment system in Bajaj Allianz?

a) Not at all b) satisfied c) Totally Satisfied d) Totally Good

e) Excellent.

a)

b)

c) d)

e)

Q.2. Whether the Recruitment process is documented?

a) Yes b) No

a)

b)

Q.3. Whether the Recruitment process is documented if YES than the

substances level of its knowledge to others is:

a) Clear b) Vague.

a)

b)

NAME:

DEPARTMENT CODE:

EMPLOYEE CODE:

EMPLOYEE GRADE:

77

Q.4. Whether the Recruitment system is transparent at all level?

a) Not at all b) To some extent c) To great extent.

a)

b) c)

Q.5. Is the Recruitment process uniform at all level?

a) Yes b) No c) varies as per department.

a)

b)

c)

Q.6. Whether the department head is constitutes in the interview of the

recruitment process?

a) Totally linked b) partially linked c) Not at all.

a)

b)

c)

Q.7. Whether the response of HR department or person on vacancy is?

a) Not slow b) slow c) Quick d) Very responsive d) Excellent

a)

b)

c)

d)

e)

Q.8. Whether the written test design gives real advantage or satisfaction?

a) Not at all b) satisfaction c) Total Satisfaction d) Totally good

e) Excellent.

a)

b)

c)

d)

e)

Q.9. Whether the duration of the written is?

a) Too short b) Not long c) Long d) Too long.

a)

b) c)

d)

78

Q.10. How is the test evaluation of the recruitment process?

a) Fair b) Justified c) Not justified.

a)

b)

c)


Knowledge considered rate in percentage.

a) 20-30% b) 31-50% c) 51-70% d) 71-80% e) 81-100%

a)

b)

c)

d)

e)


Knowledge + Experience considered rated in percentage.

a) 20-30% b) 31-50% c) 51-70% d) 71-80% e) 81-100%

a)

b)

c)

d)

e)


Experience considered rated in percentage.

a) 20-30% b) 31-50% c) 51-70% d) 71-80% e) 81-100%

a)

b)

c)

d)

e)

Q.14. Whether the middle level i.e. executive are well know of the recruitment

Process?

a) Not at all b) To some extent c) Thoroughly known

a)

b)

c)

79

Q.15. The major Man power source in Bajaj Allianz of recruitment process is?

a) Newspaper b) Internal recruitment c) Campus interview d) Firm or

Agencies on contract basis.

a)

b) c)

d)

Q.16. Which is the most powerful method of the interviewing the candidate and

selecting the candidate in Bajaj Allianz?

a) Telephonic Interview b) Personal interview c) Video conference interview.

a)

b)

c)

Q.17. Whether the selection in Bajaj Allianz is done on the basis of the merit?

a) Yes b) No c) Can t say

a)

b)

c)

80

ANNEXURE 2

The Questionnaire Full and Final System

Q.1. How is Full and Final Settlement System in Bajaj Allianz?


a)

b)

c)

d)

e)

Q.2. The content of Full and Final settlement is uniform at all level?

a) Yes b) No c) Various as per Grades or Position in the company

a)

b)

c)

Q.3. The duration taken for the Full and Final Clarence system is?


e) More than 15 days.

a)

b)

c)

d)

e)

NAME:

DEPARTMENT CODE:

EMPLOYEE CODE:

EMPLOYEE GRADE:

81

Q.4. The process of the Full and Final settlement is?


a)

b)

c)

Q.5. How is the dispatch system of document from all over India branches to

Head office of HR department for the process and calculation of the Full and

Final settlement are?


a)

b)

c)

d)

e)

Q.6. The data provided to Head office HR department from other Branches are

always correct for Full and Final process?

a) Yes b) No

a)

b)

Q.7. How is the process of giving clearance by sales admin and finance

department after documents reaching and verified by HR department?

a) Small process b) Lengthy process c) Time consuming process

a)

b)

c)

Q.8. The calculations and amount of the Full and Final settlement in Bajaj Allianz

done by HR of head office after getting clearance from 2 department are?

a) Always right b) Sometimes perfect c) Not at all right.

a)

b)

c)

82

Q.9. After the Clearance is over the DD issued in the name of the left employees

are received in how many days?


a)

b) c)

d)

83

ANNEXURE 3

84

BIBLIOGRAPHY

85

BIBLIOGRAPHY

Books

Human Resource Management

- Anjali Ghanekar

Manual

HRD Manual of Bajaj Allianz.

Websites

www.google.com

www.bajaj allianz. com

http://www.google.com

http://www.bajaj

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