CONTENTS

1. INTRODUCTION

2. INTRODUCTION TO HRM

3. PROFILE OF BAJAJ ALLIANZ

4. PROFILE OF THE ORGANISATION

5. SURVEY ANALYSIS AND INTERPRETATION

6. SUMMARY OF FINDINGS

ANNEXURES

QUESTIONNAIRE

BIBLIOGRAPHY

1

CHAPTER –1INTRODUCTION

Introduction Relevance of study Objectives Material and Methodology Scope of study Limitation

CHAPTER - 2INTRODUCTION TO HRM

General Introduction to the HRM Evolution of HRM Meaning and Definition Objectives Scope Importance

CHAPTER-3PROFILE OF BAJAJ ALLIANZ

Introduction History of Bajaj Allianz insurance company limited Achievements of Bajaj Allianz life insurance company limited Objectives of Bajaj Allianz life insurance company limited

CHAPTER-4PROFILE OF THE ORGANISATION

Introduction to the branch Span of Management Organization Structure of Personnel Department HRM in branch Benefits to Employees

2

CHAPTER – 5SURVEY ANALYSIS AND INTERPRETATION

CHAPTER-6SUMMARY OF FINDINGS

General objectives of the survey Suggestion Conclusion

ANNEXURES Questionnaire Bibliography

“Human Resource Management in Bajaj Allianz Life Insurance”, with Special Reference to Shimoga Branch.

3

CHAPTER –1

INTRODUCTION

Introduction Relevance of study Objectives Material and Methodology Scope of study Limitation

4

Introduction

Indian industry is facing the challenges of global

competition. In order to fee the emerging corporate.

The corporate sector should look after the need of

employees to that quality goods are produced of quality

services are rendered.

It is widely believed that only quality people

produce quality goods or service. Here fore the

corporate organisation should develop good quality

human resource4s who are committed to organizational

growth.

Here the physical and mental needs of the

employed are to be fulfilled. This change, presently

noticed in the Bajaj Allianz life insurance company

Limited. This concession about taking care of the

employees needs with socio, economic development

was studied under following chapter.

5

This project report is an human resource

management in Bajaj Allianz Life Insurance company

Limited. This report consults of at together six chapters.

Relevance of Study:

The study was under taken to know the

recruitment, selection, training, promotion and transfer

of the permanent in the Bajaj Allianz Life Insurance

Limited. Human resources is a one of the most

important sources in the word the Bajaj Allianz is

connected with use of those manpower for its

exponential growth, Human Resources and Bajaj Allianz

life insurance go hand in hand.

The project show the loopholes and problem of

power in proper utilization of the same the study give

the solution for the smooth running of services with

efficient are of man power resource on the Bajaj Allianz.

Particular the study is a who mode to know the human

relation in the Bajaj Allianz life insurance Company.

6

Objectives of Study

The prevent study aims at the following objectives.

1. To know about the effective utilization of man power

in Bajaj Allianz Life Insurance Companies.

2. To know the exponential growth of human resources

in connection with the wealth creation.

3. To see how the employees are recruited, selected

and trained.

4. To study the criteria followed in giving promotion and

circumstances under incentive schemes are given

5. To see the wage and salary administration of the self

employees and workers.

6. To study the motivation all schedules and schemes

adopted and implemented for the welfare of

employees of work.

7. To study the human resources development and area

of human resources development in Bajaj Allianz Life

Insurance Company Limited.

7

8. To study the relationship b/w management and

employees.

9. To study the role of higher rank employee in

development executive ranks.

Materials and Methodology:

To achieve the above objectives, data is collected

from the primary data and secondary source; the

secondary data were obtained from the monthly

magazine, spy bulletin, Internets. How the copy act

your way to wealth, most of the secondary data

collected from books published by different authors.

The higher rank manage view points about the some

excellent and wonderful creative idea regarding human

resources are included whenever available and

necessary.

8

COLLECTION OF DATA:

Primary data:

Primary data is one, which is original in nature and

pure in character. It is fresh data obtained by the

organization directly, primary data is collected by

personal interview of with manage. Senior manager and

branch incharge and questionnaire with employee of

the company and data is collected from the monthly

weekly meetings need at branch office some

conference also helps in getting information for the

preparation of the effective project report.

Secondary data:

Secondary data are those duties which are not

original in nature there duties are published someone

are published duties. Beside primary data, data is

conducted from secondary source like company

circulars, books, files, newspapers magazines and HRD

news net and al project reports.

9

Scope:

The project report collected the necessary

information and data the branch office shimoga and

head office Bangalore.

The study is mainly concentrate on the human

resources development ; the report also viewed the

proper utilization of man power.

Limitations:

The study had certain limitation, they are,

1. The study is based on the data’s given by the Bajaj

Allianz Life Insurance company.

2. Only indepth study about personnels recruitment,

selection and promotion, which bring fruitful results.

3. Non availability of some data also effected the

quality of project report.

4. The time and Money containers have also affected

quality of the project

10

CHAPTER - 2

INTRODUCTION TO HRM

GENERAL INTRODUCTION TO THE HRMEVOLUTION OF HRM MEANING AND DEFINITIONOBJECTIVESSCOPEIMPORTANCE

11

INTRODUCTION TO HRM

General Introduction

Taking a Look at the world of human beings is a

rewarding experience. Contracts abound in this world.

Beauty is juxtaposed with ugliness, mercy with cruelty,

compassion with indifference, health with disease,

happiness with misery, industriousness with laziness,

and affluence with poverty. There contracts remain so,

despite the passage of time, sweeping political &

economic changes, and cultural differences. Contrasts

not withstanding, one thing is certain- it is the people

who make an organization a success or allow it to be

handed over to the Board for Industrial & Financial

Reconstruction (BIFR). Who are these so called patrons?

How to attract them? How to retain them? How to

motivate them? These and other such questions need

an in-depth study. The present book makes an attempt

to study these questions.

12

Evolution of HRM

As a part of introduction to the subject, it is useful

to study the evolution of HRM. HRM, a relatively new

term, emerged during the 1970’s. Many people

continue to refer to the discipline by its older, more

traditional titles, such as personnel management or

personnel administration.

The trend is changing. The term nowadays used in

industry circles is HRM. Coming to the evolution of HRM

as a subject, it may be stated that concern for the

welfare of workers in the management of business

enterprises has been in existence since ages. Kautilya’s

Arthashastra states that there existed a sound base for

systematic management of resources during as early as

the 4th century BC. The government then took an active

interest in the operation of public & private sector

enterprises and provided systematic procedures for

regulating employer-employee relationships.

13

Elsewhere, human resources in organizations

received the management’s attention much earlier. As

early as in 1800 BC itself, ‘minimum wage rate’ and

‘incentive wage plan’ were included in the Babylonian

Code of Hammurabi.

Experts of HRM in our country have tried to

chronicle the growth of the subject only since the

1920’s. This was the period when state intervention to

protect the interests of workers was felt necessary

because of the difficult conditions which followed the

First World War, and the emergence of trade unions.

The Royal Commissions (1931) recommended the

appointment of Labour-welfare officers to deal with the

selection of workers and to settle their grievances. The

Factories Act, 1948, made appointment of welfare

officers compulsory in industrial establishments

employing 500 crores more workers each.

In course of time, two professional bodies, the

Indian Institute of Personnel Management (IIPM) and

14

the National Institute of Labour Management (NILM),

were set up. IIPM had its headquarters at Calcutta and

NILM at Mumbai. These two places were the premier

centers of traditional industry (jute and cotton

respectively) in pre- independent India.

The aftermath of the Second World War and the

country’s political independence witnessed increased

awareness and expectations of workers. During the

1960’s, the personnel function began to expand beyond

the welfare aspect, with labour welfare, IR and

personnel administration integrating into the emerging

profession called personnel management (PM).

Simultaneously, the massive thrust given to the heavy

industry in the context of planned economic

development, particularly since the Second Five-Year

Plan and the accelerated growth of the public sector in

the national economy resulted in a shift in focus

towards professionalization of management.

15

By the 1970s, a shift in professional values was

discernible. It shifted from a concern for welfare to a

focus on efficiency. In the 1980’s professionals began to

talk about new technologies, HRM challenges and HRD.

The two professional bodies, IIPM and NILM, merged in

1980 to form the National Institute of Personnel

Management (NIPM).

In the 1990’s the emphasis shifted to human

values and productivity through people. Reflecting this

trend, the American Society for Personnel

Administration (ASPA) was renamed as the Society for

Human Resources Management (SHRM). Thus,

beginning in the 1920’s the subject of HRM has grown

into a matured profession. The below table shows the

evolution of HRM

16

Evolution of H.R.M. In India.

Period Development Status

Outlook Emphasis Status

1920s-1930s

Beginning Pragmatism of capitalists

Statutory welfare, paternalism

Clerical

1940s-1960s

Struggling for recognition

Technical, legalistic

Introduction of technical

Administrative

1970s-1980s

Achieving sophistication

Professional, Legalistic, Impersonal

Regulatory, conforming, imposition of standards on other functions

Managerial

1990s Promising Philosophical Human values, productivity through people

Executive

(Source: C.S. Venkataratnam and B.K Srivastava, Personnel Management and Human Resources page 5)

17

MEANING AND DEFINITIONS OF HRM

Meaning:

Human Resource Management is concerned with

managing people at work. It covers all levels in the

organizations. It applies to workers, supervisors,

officers, managers and other types of personnel.

HRM is concerned with employees as individuals

as well as groups. It is the task of dealing with human

relationship within an organization. It is the process of

achieving the best fit between individuals, jobs,

organizations and the environment. It is the process of

bringing people and organizations together so that the

goals of each are met.

Definitions:

According to National Institute of Personnel

Management of India, “HRM is that part of management

concerned with people at work and with their

18

relationship within the organization. It seeks to bring

together men and women who make up an enterprise,

enabling each to make his own best contribution to its

success both as an individual and as a member of a

working group”.

In the words of Flippo- personnel management or

human resource management is “the planning,

organizing, directing and controlling of the

procurement, development, compensation, integration,

maintenance and reproduction of human resource to

the end that individual, organizational and societal

objectives are accomplished.

Scott and others have defined as follows:

Human Resource management is that branch of

management which is responsible on a staff basis for

concentrating on those aspects of relationship of

management to employees and employees to

19

employees and with the development of the individual

and the group. The objective is to attain maximum

individual development, desirable working relationship

between employers and employees and employees,

and effective moulding of human resources as

contrasted with physical resources”.

OBJECTIVES OF HRM

Every organization has some objectives and every

part of it should contribute directly or indirectly to the

attainment of desired objectives. Objectives determine

the character of an organization and serve as the basis

for voluntary co-operation and co-ordination among

employees. In this light the objectives of human

resource management may be summarized as follows.

(i) To help the organization attain its goals by

providing well trained and well motivated

employees.

20

(ii) To employ the skills and knowledge of employees

efficiently and effectively, i.e. to utilize human

resource effectively.

(iii) To enhance job satisfaction and self-actualization

of employees by encouraging and assisting every

employee to realize his/her full potential.

(iv) To establish and maintain productive, self

respecting and internally satisfying working

relationships among all the members of the

organization.

(v) To bring about maximum individual development

of members of the organization by providing

opportunities for training and advancement.

(vi) To ensure the integration of all the individuals and

group with the organization by reconciling

individual /group goals with those of an

organization.

(vii) To develop and maintain a quality of Work Life

(QWL) which makes employment in the

21

organization a desirable personal and social

situation.

(viii) To maintain high morale and good human

relations within the organization.

(ix) To help maintain ethical policies and behavior

inside and outside the organization.

(x) To manage change to the mutual advantage of

individuals, groups, the organization and the

society.

(xi) To recognize and satisfy individual needs and

group goals by offering appropriate monetary and

non-monetary incentives.

SCOPE OF HRM

The scope of personnel management has

expanded considerably in recent decades. Now

techniques and styles of managing human resources,

research in behavioral science, establishment of

22

training institutions, etc, have contributed to the

expansion of personnel function.

The Indian Institution of Personnel Management

has described the scope of human resource

management in to the following aspects:

1. The Labour or Personnel aspect:

It is concerned with man power planning,

recruitment, selection, placement, induction, transfer,

promotion, demotion, termination, training and

development, lay off and retrenchment, wage and

salary administration (remuneration), incentives,

productivity, etc.

2. The Welfare Aspect:

This aspect of concerned with working conditions

and amenities such as canteens, crèches, rest rooms,

lunch rooms, housing, transport, education, medical

help, health and safety, washing facilities, recreation

and cultural facilities, etc.

23

3. The Industrial Relations Aspect:

This is concerned with the company’s relations

with the employees. It includes union-management

relations, joint consultation, negotiating, collective

bargaining, grievance handling, disciplinary actions,

settlement of industrial disputes, etc.

24

IMPORTANCE OF HUMAN RESOURCE

MANAGEMENT

The significance of human resource management

can be discussed at four levels corporate, professional,

social and national.

1. Significance for an Enterprise:

Human Resource Management can help an

enterprise in achieving its goals more efficiently in the

attracting and retaining the required talent through

effective human resource planning, recruitment,

selection, placement, orientation, compensation and

promotion policies.

2. Professional significance:

Effective management of human resources helps

to improve the quality of work life. It permits team work

among employees by providing a healthy working

environment.

3. Social Significance:

25

Sound human resource management has a great

significance for the society. It helps to enhance the

dignity of labour in providing suitable employment that

provides social and psychological satisfaction to people.

4. National Significance:

Countries are underdeveloped because their

people are backward. The level of development in a

country depends primarily on the skills, attitudes and

values of its human resources. Effective management

of human resources helps to speed up the process of

economic growth which in turn leads to higher

standards of living and fuller employment

26

CHAPTER-3

PROFILE OF BAJAJ ALLIANZ

Introduction

History of Bajaj Allianz insurance company limited

Achievements of Bajaj Allianz life insurance company limited

Objectives of Bajaj Allianz life insurance company limited

27

PROFILE OF BAJAJ ALLIANZ

INTRODUCTION:

Bajaj Allianz Life Insurance Company is a 74:26

joint venture between Bajaj Auto Limited and Allianz

AG, Germany (formerly Allianz Bajaj Life Insurance

Company Limited). It is the fastest growing private life

insurance company in India. Allianz AG is a leading

insurance conglomerate globally and the largest asset

manager in the world, managing assets worth over 996

billion Euros (Rs. 53, 64,456 crores). At Bajaj Allianz,

‘customer delight’ is their guild line principle. It is

ensuring world class solutions by offering people

customized products with transparent benefits

supported by the best technology is their business

philosophy.

28

HISTORY OF BAJAJ ALLIANZ INSURANCE COMPANY

LIMITED:

Henry Little would hardly recognize the insurance

company he started in 1896 as North American

Casualty, Henry’s dream grew to become Allianz Life

Insurance Company of North America (Allianz Life®)

after being acquired by Allianz AG of Munich, Germany

in 1979, and become a company of Allianz AG. Allianz

Later Allianz AG is merged with Bajaj Auto Limited of

India, which is the flagship company of the Rs. 8000

crore & which is the largest manufacturer of two-

wheeler and three wheelers in India and one of the

largest in the world .Allianz AG is now one of the world’s

largest integrated financial services organization with

operations in 70 countries around the globe.

ACHIEVEMENTS OF BAJAJ ALLIANZ LIFE

INSURANCE COMPANY LIMITED:

Bajaj Allianz Insurance Company has the second

position in the Indian private Insurance Sector having

29

steered the Rs. 480 crores. Bajaj Allianz Life (premium

income Rs. 220 crore) has jumped three paces to

occupy the fourth slot in the 13 strong life insurance

industry. Today the company is in the midst of pursuing

its twin corporate ‘dream’ goals- to close this fiscal with

a premium income of Rs. 750 crore and occupy the

number three slot displacing the incumbent Birla Sun

Life Insurance Company Limited. Given the daily

collections- over Rs. 1 crore-and its month-on-month

growth, the second may come true sooner.

According to the Insurance Regulatory and

Development Authority (IRDA) figures, the new

premium difference between Bajaj Allianz Life and Birla

Sun Life at the end of August 2004 was Rs. 37.5 Crore.

Looking at the sales mix, Bajaj Allianz Life is

logging impressive sales in the individual single

premium segment. For the period April-August 2004,

the company earned Rs. 50.35 crore selling 5,657

single premiums averaging around Rs 89,004 per

30

policy. The individual non-single premium policies

accounted for Rs. 92.59 crore. Last year the company

had to transfer Rs. 40 crores from the shareholders

account to policy holders account to declare bonus to

its ‘with profit’ policy holders.

OBJECTIVES OF BAJAJ ALLIANZ LIFE INSURANCE COMPANY

LIMITED:

Bajaj Allianz, one of the fastest growing insurance

company in Private Sector with over 300 percent

growth in the last two years, has targeted to increase

its volume of business to Rs. 7000 crores by next year

from Rs. 1680 crores no “in fact by the end of the

current financial year (March 2006), it plans to increase

its business to Rs. 3000 crores, including Rs. 2500

crores as the premium income”, said Mr. Sam Ghosh,

Country Manager Allianz and CEO Bajaj Allianz.

During the next one year (2006-07) it is planed to

double the number of officers and branches from the

31

present around 500 to at least 1000 with 20 percent of

them coming up in rural India. It is planned to make a

deeper dent in India rural market not only with its

increased presence, but also by hiking its share of

business there (rural market) from around 15 to 18%

how to over 22% by December next year.

The following are the Important objectives of

Bajaj Allianz Ltd:

1. To develop the necessary skills and right attitudes

among the employees through training, development

performance appraises.

2. To secure willing cooperation of employees through

motivation grievance handling etc.,

3. To provide maximum opportunities for personal

developments.

4. To provide insurance cover and financial security to

every insurable person.

5. To build cordial relationship among employees.

6. To improve the quality of training.

32

7. To facilitate the basic necessitates of canteen,

restroom etc.,

8. To meet the needs of expansion and diversification

programmes

9. To improve the performance of managers at all levels

in their present job.

FUNCTIONS :

The following are the important functions of Bajaj Allianz life

insurance Co. Ltd,

1. Obtaining detailed information of the clients business

and risk management philosophy.

2. Rendering advice and appropriate insurance could

and terms.

3. Maintaining detailed knowledge of insurance markets

as may be applicable

4. Submitting quotation received from insurers for

consideration of a clients

33

5. Providing requisites underwriting information as

required by an insurer in assessing the risk

to decide price in terms and condition for loses.

6. Providing services related to insurance consultancy

and risk management.

7. Assisting in the negotiation of the clients.

8. Maintaing proper records of clients.

9. Given instructions from clients and providing him

written acknowledgement and progress report.

34

CHAPTER-4

PROFILE OF THE ORGANISATION

INTRODUCTION TO THE BRANCH

SPAN OF MANAGEMENT

ORGANISATON STRUCTURE OF PERSONNEL

DEPARTMENT

HRM IN BRANCH

BENEFITS TO EMPLOYEES

35

INTRODUCTION TO THE SHIMOGA SATELLITE

BRANCH

Shimoga city is one of the important centers of

insurance industry. The branch was opened on 1.4.2004

and started its functioning at M.G. Palace, 1st floor

Nehru Road, under the branch management of Mr.

Shantilal and since then it has been running business

successfully.

The branch started its operation with only 48

members including a branch manager. Then there were

no proper ventilation systems and separate cabins. All

the works were going very simple. With in a half year, it

got progress by spreading its popularity to all local

cities and within the Shimoga city also. Now, within a

span of two years it has become one of the leading life

insurance companies in Shimoga city.

The central office of Bajaj Allianz Life Insurance

Company Limited is at Pune and the South Central

36

Office is at Bangalore which is having control of 12

branches all over Karnataka including its main branch

of Bangalore. The Shimoga branch is technically known

as Shimoga Satellite Branch under the Bajaj Allianz Co.

Law. The Satellite branch is under the control of Hub

branch which is situated at Mangalore. With in two or

three months Shimoga Satellite Branch is going to

become Hub branch. Then it will have the control over

all satellite branches which would be opened at taluk

levels.

With its day to day expansion the needs of proper

working conditions were also increased. To overcome

this problem, it has opened a separate office at 1st floor

of M.G. Palace itself exclusively for staff for handling

customer grievances.

37

SPAN OF MANAGEMENT

ORGANISATION OF HR DEPARTMENT

Two issues become relevant in a discussion on organization of a HR department. They are (i) place of

38

WORKERS

MANAGING DIRETOR

BRANCH MANAGER

SALES TEAM MANAGER

INSURANCE SERVICE CONSULTANT

the HR department in the overall set-up, and (ii) composition of the HR department itself.

Status of the HR department in the total organizational structure depends on whether a unit is small or large. In most of the small organizations, there is no separate department to co-ordinate the activities relating to personnel. In fact, there may not be any personnel manager at all. Services of outsiders who specialize in maintaining accounts and records relating to provident fund, pension and other statutory requirements are retained for a fee. The following figure shows the structure of this type.

Owner /manager

Production Sales Office Personnel

AccountantManager Manager Manager Assistant

HRM in a small scale unit

A large scale unit will have a Manager/ Director

heading the HR department. His or her status will be

equal to that of any executive. The bellowed figure

39

shows this structure. This arrangement holds well when

the company has a single unit. Where the company has

multiple plants located in different parts of the country,

there may be a centralized HR/ personnel department

at the main or registered office and early plant will have

separate HR/personnel departments. Routine activities

relating to each plant are handled by the HR/personnel

department attached to the work, where as the broad

policies, matters concerning executives, and the like

are handled by the central department. This is the case

with conglomerates as BHEL. ITL and L & T

40

Chairman and Managing Director

Production Finance Personnel/HRM Marketing R & DDirector Director Director Director Director

HRM in a large scale unit.

Coming to the composition of the HR department,

it may be stated that it depends on the scale of

operations and attitude of the top management

towards its personnel. However, a typical HR

department is headed by a Director, under who are

Manager-Personnel, Manager-Administration, Manager-

HRD and Manager- Industrial Relations. The department

will grow in size and importance when new demands

are placed on it by the top management.

41

ORGANISATIONAL STRUCTURE

CHIEF EXECUTIVE

PERSONNEL MANAGER

Employment Training Wage and Salary WelfareOfficer Officer Officer Officer

Clerks Clerks Clerks Clerks

Under this organizations structure authority flows

from top to the bottom of the organization. Every

superior has direct command over his immediate

subordinate. Every employee is accountable to one

superior i.e. three is unity of command. The authority

relationships are clear and there is strict discipline. But

there is lack of specialization and flexibility.

42

MANAGEMENT STRUCTURE

BRACH MANAGER

ADMINISTRATIVE OFFICERS

Assistant Branch Manger Assistant Administrative officer

Development Officer Higher Grade Assistant

Assistant Typist Record Clerks

Sub Staff

43

HRM MODEL

NATURE OF HRM

HUMAN RESOURCE PLANNINGJOB ANALYSISRECRUITMENTSELECTIONPLACEMENTTRAINING AND DEVELOPMENT REMUERATIONMOTIVATIONPARTICIPATIVE MANAGEMENTCOMMUNICATIONSAFETY AND HEALTHWELFAREPROMOTIONS, etcINDUSTRIAL RELATIONSTRADE UNIONSMDISPUTESAND THEIR SETTLEMENT

FUTURE OF HRM

As seen from the figure, the model contains all HR

activities. When these activities are discharged

effectively, they will result in a competent and willing

workforce who will help realize organizational goals.

There is another variable in the model-environment. It

may be stated that the HR function does not operate in

44

ENVIRONMENT

COMPETENT AND WILLING WORK-FORCE

OrganizationalGoals

vacuum. It is influenced by several external and

internal forces like economic, technological, political,

legal, organizational and professional conditions

HRM IN THE SHIMOGA SATELLITE BRANCH

RECRUITMENT:

Recruitment is a process to discover the sources of

manpower to meet the requirements of the staffing

schedule and to employ effective measure for

attracting that manpower in adequate numbers to

facilitate effective selection of an efficient working

force. The process recruitment in the branch is dividend

into two. 1. Internal sources and 2. External sources.

Internal sources are most obvious sources. These

include personnel already on the pay role of an

organization i.e. its present working force whenever any

vacancy occurs somebody from within the organization

is upgraded, promoted.

45

External sources include advertisement, casual

callers, employment exchanges,

recruitment agencies, etc.

SELECTION:

Selection is the process of evaluating the capacity

of the potential employees in the light of job

satisfaction. The selection process is intended to

measure the individuals’ capacity against the job

requirements. The object is to ascertain clearly, the

type of person required and to secure an appropriate

candidate for filling that position.

The used steps involved in selection process are as

below.

1. Preliminary interview

2. Blank application

3. Tests

4. Interview

5. Medical examination

46

6. Final selection.

TRAINING:

After an employee has been selected placed and

inducted, it becomes necessary to arrange for his

training. While education improves the knowledge &

understanding of employees in a general way, training

aims at increasing the skills & abilities of workers to

perform specific jobs.

Training is the art of doing the job in a correct

effective and efficient manner. Under the Bajaj Allianz

training is given only by personnel staff & specialists.

During the period of training the trainee will be paid

remuneration at the minimum of scale applicable to

their post.

PROMOTION AND TRANSFERS:

Promotion refers to advancement of an employee

to a higher post carrying greater responsibilities, higher

47

status and better salary. It is the upward movement of

an employee in the organization’s hierarchy.

Under the Bajaj Allianz promotions can be made

only on the basis of seniority or merit or a combination

of both.

WAGES AND SALARY ADMINISTRTION:

Employee compensation is a vital part of human

resource management. Wages, salaries and other forms

of employee compensation constitute a very large

component of operating costs. One of the biggest

factors affecting industrial relations is the salary or

wage- the compensation on employee receives for a

fair day’s work.

Objectives of wage & salary administration under

Bajaj Allianz Shimoga Satellite Branch are as follows.

1. To establish a fair & equitable remuneration.

2. To attract competent personnel.

48

3. To retain the present employees.

4. To improve productivity.

5. To control costs.

6. To establish job sequences & lines of promotion.

7. To improve union management relations.

8. To improve public image of the company.

BENEFITS TO EMPLOYEES

They provide insurance cover and financial security

to every insurable person.

They provide transportation charges to its sales

executives so as to increase sales.

They provide educational facilities to all the children

of their employees.

They also help in providing medical help either to his

family or on his own health.

Recreation, health and safety facilities are also

providing.

49

Special benefits like provident fund, gratuity,

accident relief, health & group insurance also

providing.

They provides perquisites like company car, club

membership, paid holidays, furnished house and

stock option schemes to his employees.

They help in providing good method of training to

increase technological changes in the work.

They handling the grievances & make the settlement

of disputes between employees.

They will act as trustees of their employees’ funds &

invest the funds to their best advantage.

They build & maintain cordial relationship between

employees.

50

BENEFITS TO ITS CLUB MEMBERS FOR

2009-10

CLUB REQUIRED PREMIUM BENEFITS CONVENTIONSILVER 5 lacs of first year premium*

with minimum of 25 lives OR50 lives with an average premium size of Rs. 7000 per policy

Benefits worth 6000

Branch head Convention

GOLD 10 lacs of first year premium* with minimum of 50 lives OR100 lives with an average premium size of Rs. 7000/policy

Benefits worth 15,000

Zonal level Convention

PLATINUM 50 Lacs of first year premium* with minimum of 50 lives OR300 lives with an average premium size of Rs. 7000/policy

Benefits worthy 3,00,000

Invitation to international convention along with a companion

MDRT 22 lacs of first year premium* Benefits worth Invitation to

51

1,50,000 International convention

COT 66 lacs of first year premium* Benefits worth 4,00,000

Invitation to International convention along with companion

TOT 132lacs of first year premium* Benefits worth 8,00,000

Invitation to International convention along with 3 companion

52

NOTE:

1) All the regular premiums will be having a crore of

100% & all single premiums will be having a crore of

10%.

2) All regular premiums will be having a crore of 100%

& single premiums will be having a crore of 6%.

3). Conditions applying: The minimum persistency

levels expected for all company clubs is 80%,

53

CHAPTER – 5

SURVEY ANALYSIS AND INTERPRETATION

54

Analysis of collected data

After getting the information from all sources

analysis is made. It involves examination and

verification of collected data & information. Analysis

implies critical examinations and evaluation and

policies, programs and procedure in the area of human

resource management. The primary aim of analysis of

collected data is to determine whether the personnel

policies and practices are consistent with organizational

objectives. However, the analysis is explained under

the following tables, graphs and diagrams.

55

1) Table showing employees age group:

Age Group No of Employee In percentage

18 – 25 25 – 30 30 – 40 40 - above

7 12 6 5

23.34 40.00 20.00 16.66

Total 30 100.00

Graph showing employees age group

56

2. Table showing the educational qualification of

employees.

EducationalQualifications

No. of employee In percentage

Up to PUC 3 10Graduate 10 33.34Post graduate 10 33.34MBA holder 7 23.33Total 30 100.00

Result the regarding educational of the of the

employees shown in the above tabulation analysis can

be made 10% of the employee have passed PUC and

33.34% of the employee have passed graduate, 33.34%

of passed post graduate and 22.33% of employee

passed MBA.

57

Graph showing the educational qualification of

employees

58

3. Table showing employees working under different

levels:

Level of working

No. of employee

In percentag

e

Employees

AdministrativeAssistance

6 20 72

Development offices

14 46.67 108

Business executive

7 23.33 83

Manager 3 10 36Total 30 100 360

From the above table shows employee working

under different level of area as follows 72% of

administration and 108% of Development officers and

36% bank employees manager of the employee in Bajaj

Allianz Life insurance company.

59

Graph showing employees working under

different levels

60

4. Table showing employees earning different amount of salaries.

Salaries No. of Employees

In % In degree

Below 10000

4 13.34 48.02

10000-15000

13 43.33 156.00

15000-20000

4 13.33 47.98

20000-25000

9 30.00 108.00

Above 25000

- - -

Total 30 100.00 360.00

Graph showing employees earning different

amount of salaries

61

5. Table showing number of employees recruited through different sources.

Source of Recruitment

No. of employees

%

Recruiting Agencies 10 33.34Employment exchange

7 23.34

Casual callers 3 10.00Recommendations 2 6.66Press Advertisement

8 26.66

Total 30 100.00

Graph showing the employees recruited through

different sources

62

6. Table showing employees transferred , promoted ,

demoted.

Particulars No. of Employees

In percentage

In degree

Transferred 10 33.34 120.02Promoted 9 30.00 108.00Denoted - - -Not Changed 11 36.06 130.00Total 30 100.00 360.00

From the above table showing the employees transfer

of 33.34% and 30% of employees promoted, 36.06% of

the employees not changes.

63

Graph showing employees transferred , promoted

, demoted.

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7.1 Table showing number of employees having life

insurance policy under Bajaj Allianz.

Particular No. of

employees

In % In degrees

Having

insurance

policy

21 70 252.00

Not having 9 30 108.00

Total 30 100.00 360.00

From the above table showing numbers of employees

having life insurance policy under Bajaj Allianz life

insurance company Ltd.,

65

Graph showing number of employees having life insurance policy under Bajaj Allianz

66

8. Table showing employees having different policies

under Bajaj Allianz.

Type of plan No. of employees In percentage

Unit gain plan

6 28.57

Pure term plan

7 33.34

Term plan with premium

8 38.09

Whole Life plan

- -

Total 30 100.00

From the above table showing employees having

different policies under Bajaj Allianz are as follows.

28.57% of unit gain plan, 33.34% of pure term plan and

38.09% of perm plan with premium policy.

67

Graph showing employees having different

policies under Bajaj Allianz.

68

9. Relationship between employee & employer

satisfaction

Particular No. of employees

Percentage

Satisfaction 21 70Not satisfactory 9 30Total 30 100.00

From the above table showing employees having satisfaction level under Bajaj Allianz are as follows. 7o% of employees are satisfy and remaining 30% are not satisfied.

69

10. Training given through

Particular No. of employees

Percentage

Conference 15 50Audio visuals 8 35Management 7 15Total 30 100.00

70

ANALYSIS AND INTERPRETATION:

From the all tables, graphs and diagrams it is clear

to understand from the statistical studies. It states how

the personnel activities are to be carried out. It helps to

reveal how well the personnel policies are

implemented. Analysis and Interpretation of graph,

tables, includes the calculation of ratios and

percentages from personnel statistics. Such

measurement will reveal useful trends in manpower

utilization.

In the first table 1.1 one can know how many

employees have how much of educational knowledge.

In this graph, there is lack of M.B.A holders but the

number of graduate employees is abundant.

Coming to next graph (2.1.) which shows the office

is good at personnel placement. Here, all the personnel

are placed at first level of job.

In the table correlation (no.3) employees at

different levels are placed with different educational

71

qualification. It reveals how many, graduates, post

graduates & MBA holders are working as administrative

assistant, development officer, business executive and

as manger.

Table no. 4 shows number of employees earning

different amount of salaries. Except 4 managers no one

is getting more than Rs. 25000 salary per monthly.

Correlation Table No.5 shows the employees

earning different amount of salaries with different level

of work. Under this graph only 4 managers earning

more than Rs. 25000 and 3 M.B.A holders earning more

Rs. 20000. Rests of all are earning less than manger’s

level of amount.

In the graph (6.2) employees recruited through

various sources. Only a few were recruited through

recommendation and maximum numbers of employees

were recruited through Recruiting agencies.

Under the branch 25 employees were transferred,

17 were promoted and no one demoted and 166

72

employees were remained with no change, which is

shown under graph7.2.

Table no. 8 shows the number of employees

having life insurance policy under Bajaj Allianz. Under

this graph number of employees not having policy is

higher than those whose are having.

And the graph no.9.2 shows employees having

different policies under Bajaj Allianz. Under this graph

highest number of employees interested to have policy

under term plan with return of premium.

Thus, it is clear to determine the efficiency of

Shimoga Satellite branch in personnel department is

not so poor and not yet too good, before the

challenging world of competition.

73

CHAPTER-6

SUMMARY OF FINDINGS

GENERAL OBJECTIVES OF THE

SURVEY

SUGGESTION

CONCLUSION

74

SUMMARY OF FINDINGS

The depth and complete study of the employees attitudes and their

behaviour towards the “Bajaj Allianz life insurance company ”, gives

the full and detailed information about Bajaj insurance company.

For the purpose of conducting the survey, I have prepared

questionnaire and the same copy has submitted to employees to take

their opinion. I have adopted the test method survey to collect

information I have surveyed nearly 30 employees to take opinion. The

survey has been conducted of different topics they are: Education,

Annual Income and different Age Groups etc.,

OBJECTIVES OF THE SURVEY:

1. To know the general opinion of the employees with regards to

Bajaj Allianz life insurance company.

2. To know whether the survey rendered by the firms improving in

recent year.

3. To know the good relationship with employers and employees.

4. To know the effective of the scurvies provided by the customers.

75

5. To know cooperation of employees through motivation, grievance

handling etc.,

SUGGESTONS

When there are a lot of demerits at the branch,

some suggestions are collected to reimburse the

drawbacks, they are as follows.

1. Adequate trainings like management games should

be given to employees.

2. Separate channel should be made for managing the

personnel.

3. Proper steps should be taken for the appraisal of the

employees.

4. If all the branches are computerized the employees

would not be affected.

5. Transfer of employees should be made frequently so

as to increase their efficiency and their working

knowledge.

76

6. The facilities such as rest room, crèches may be

established for employees during working hours.

7. Education scholarship of employees’ children may be

provided.

8. Company records must maintain regularly to

reducing the confusions while making balance sheet.

9. Organization must know that reducing organizational

stress is as important as motivating employee.

10. Promotion policy should be in writing and should

be communicative.

11. Wage policy & program should be reviewed and

revised periodically in conformity with changing

needs.

12. Required information about working conditions,

promotion, and demotion must be given when

needed.

77

CONCLUSION

From the whole survey, it is clear that the services

given by Bajaj Allianz Shimoga Satellite Branch are

better when compared to other insurance companies.

Here, human resources are well utilized and well

benefited. The facilities like transportation, education,

health, and group insurance except crèches and rest

room, are given under the branch which motivates the

employees to work hard. The allowances and

perquisites given under the branch are more beneficial

for the employees. Though it has all benefits, it yet has

to improve its personnel for well doing the job. If it

utilizes the manpower in right way and give personnel

appraisal, it will get more reputation in later years.

78

ANNEXURES

o QUESTIONNAIRE

o BIBLIOGRAPHY

79

QUESTIONAIRE

Dear Sir/Madam,

I am a student of MBA, IV semester, studying at

Directorate of Distance Education, Kuvempu University,

Jnana Sahyadri, Shankaraghatta. I have undertaken a

project Report of “Human Resource Management in

Bajaj Allianz Life Insurance”, with special

reference to Shimoga Branch, M.G. Palace, Gopi

circle, Shimoga. Kindly fill up my questionnaire and give

valuable suggestions for the study. The data that is

given by you will be used only for academic purpose.

Faithfully

Nagaraj

Padiyar

1. Name :

2. Address _________________________________

3. Sex: Male ( ) Female ( )

80

4. Age

a) 18-20 b) 25-30

c) 30-40 d) 40 and above

5. Educational qualification

a) Up to PUC ( ) b) Graduate ( )

c) Post Graduate ( ) d) M.B.A holder ( )

6. Level of workinga) Administrative Assistant ( )b) Development Officer ( )c) Business Executive ( )d) Manager ( )

7. Monthly SalaryBelow 10,000 ( ) Below 15,000 ( )Below 20,000 ( ) Bellow 25,000 ( )Above 25,000 ( )

8. Recruited throughRecruiting Agencies ( )Employment Exchange( )Casual callers ( )Recommendations ( )Press Advertisement ( )

81

9. Have you been?

Transferred ( )Promoted ( )Demoted ( )

10. Benefits receiving

Provident Fund (P.F) ( )Club Membership ( )Paid Holidays ( )Furnished House ( )Stock option schemes ( )

11. Relationship between employee & employer

satisfaction

Satisfaction ( )

Not satisfactory ( )

12. Training given through

Lectures ( )

Conference ( )

Audio visuals ( )

Management games( )

82

13. Training given

Good ( )

Poor ( )

Too Good ( )

14. Are you policyholder of Bajaj Allianz Life

Insurance?

Yes ( ) No ( )

15. If yes, which type of plan you have

Unit Gain Plan ( )

Pure Term Plan ( )

Term Plan with Return of Premium ( )

Whole Life plan ( )

16. What are the plus points you see at your Office___________________________________

17. Suggestion to improve the qualities of your office ____________________________________Thanking you for your kind co-operationDate: SignaturePlace:

83

BIBLIOGRAPHY

BOOKS Author Publishers

Human Resource Management

Dr. C.B. Gupta Sultan Chand & Sons

Human Resource & Personnel Management

K. Aswathappa

Tata MC Graw HillPublishing Co. Ltd.

Principles of Insurance Law

M.N.Mishra Himalaya Publishing House, Bombay

JOURNALS:

Catalogues & advertisement copies of Bajaj Allianz Life Insurance.www.bajaj.co.inwww.bajajallianzlife.co.inwww.bajajallianz.co.in

84

INDEX

ASPA American Society for Personnel

Administration

BIFR Board for Industrial& Financial

Reconstruction

Co. Company

FY Financial Year

HRD Human Resource Department

IIPM Indian Institute of Labor Management

IRDA Insurance Regulatory& Development

Authority

Ltd. Limited

NILM National Institute of Labor Management

NIPM National Institute for Personnel

Administration

PF Provident Fund

PM Personnel Management

85

QWL Quality of Work Control

SHRM Society for Human Resources

management

86