Project on Recruitment 03

8/6/2019 Project on Recruitment 03

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INTRODUCTION


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DEFINITION OF HUMAN RESOURCE MANAGEMENT:

According to D.Yoder and others

It is the phase of management which deals with the effective control and use of

manpower as distinguished from other sources of power.

The management of human resource is viewed as a system in which participants

seek to attain both individual and group goals.

Its objective is to understand what has happened and is happening and to be

prepared for what will happen in the area of the working relationships between the

managers and the managed.

HUMAN RESOURCE MANAGEMENT: AN OVERVIEW

HRM may be defined as the organized function of planning for human resource

need and recruitment, selection, development, compensation and evaluation of

performances to fill those needs. The HRM process is an on going function that

aims to keep the organization supplied with the right person, in the right position,

in the right time. The HRM process includes 5 basic activities:

Human resource planning.

Staffing.

Training and development.

Performance appraisal.

Compensation.


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Human resource activities like selection, promotion and placement come into focus

when there is high demand for the supply of man power in the organization.

Consecutively, efforts are made to match the available man power with

organisations needs. When the supply of human resource is low and the demand is

high, a different emphasis is required.

The company can go in for internal promotions and should place special emphasis

on training and development to enlarge and improve the internal pool of man

power. However, this takes time and planning. Recruitment is another option.

When there is high demand for man power within the enterprise, it is likely that

there is high demand for such man power in external environment as well.

Therefore, it is essential that the compensation offered be competitive. This is very

important for retaining individuals already employed by the enterprise, and also for

recruiting new man power.

Managers are responsible for optimizing of the resource available to them like

material, capital and human when it comes to managing people, however, all

managers must be concerned to some degree with the following 5 activities:

Staffing.

Retention.

Development.

Adjustment.


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Managing change.

However these activities can be carried out by the individuals, work team, or large

organizational unit level. Sometimes they are initiated by the organization and

sometimes they are initiated by the individuals or work team whatever the case, the

responsibilities for carrying out these activities are highly inter related. Together

these activities constitute the HRM system.

OBJECTIVES OF HUMAN RESOURCE:

The objective of human resource is to maximize the return on investment from the

organization human capital and minize financial risk. It is the responsibility ofhuman resousce manager to conduct these activities in an effective, legal, fair and

consistence manner. HRM serves these key functions:

1. Recruitment strategy planning

2. Hiring process.

3. Performance evaluation and management.

4. Promotion.5. Redundancy.

6. Industrial and employee relations.

7. Record keeping of all personal data.

8. Compensation, pension, bonuses, etc in liaison with payroll.


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9. Confidential advice to internal customers in relation to work.

RECRUITMENT

To recruit means to enlist, replenish or reinforce. It refers to the process of

bringing together prospective employees and employers with view to stimulate and

encourage the former to apply for a job with the later. The purpose of recruitment

is to prepare an inventory of people who meet the criteria laid down in the job

specifications so that the organization may choose those who are found most

suitable for the positions vacant.

OBJECTIVES OF RECRUITMENT:

To attract people with multi-dimensional skills ans experience thus suits the

present and future organizational strategy.

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

To infuse fresh blood at all levels of the organization.

To develop an organizational culture that attracts competent people of the

company.

To search or head hunt/ head pouch people whose skills fit the companys

values.

To device methodologies for accessing psychological traits.

To seek out non-conventional development grounds of talent.


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To search for talent globally and not just within the company.

To design entry pay that competes on quality but not in quantum.

TRADITIONAL METHOD OF RECRUITMENT:

The methods of recruitment are broadly divided into internal methods

and external methods. Internal methods are the sources within

organizational pursuit. External methods are sources of recruitment.

INTERNAL SOURCE INCLUDES:

Present permanent employee.

Present temporary/ casual employee.

Retrenched or retired employee &

Dependence of deceased, disabled, retired and present employees.

EXTERNAL SOURCE INCLUDES:

Campus recruitment.

Private employment agencies/ consultants.

Public employment exchanges.

Professional associations.


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Data bank.

Casual applicants.

Similar organization.

Trade unions.

Walk-in

Consult-in.


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RESEARCH DESIGN

TITLE: A study on Recruitment of financial consultants in HDFC

Standard Life Insurance.

STATEMENT OF PROBLEM: At HDFC Standard Life Insurance, the topic as

Recruitment of Financial Consultant or Recruitment consultant for my project

work. The selection of the topic was in order to know how do these companies

generates business through THE FINANCIAL CONSULTANTS and to know

what is the criteria candidates have to face.

Some criteria:


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He/she should have good personal contacts.

He/she should have good communication.

He/she should have patience and convincing power.

He/she should be above 18 years.

SCOPE OF THE STUDY: Financial Consultants are those sources of a

company who have their own relations and personal contacts among common

public that they use to generate business through. Company has certain

criteria to recruit these Financial Consultants.

This is a good business opportunity offered by HDFC Standard Life to

become a business partner and earn a good amount of money.

STATEMENT OF RESEARCH OBJECTIVES:

Recruitment procedure of HDFCSL.

To study the various method of recruitment done in our company.

To study the different products provided.

To study about the needs and requirement of the company.

To offer suggestions based on findings.


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ADVANTAGES:

Join HDFC Standard Life Insurance as a Financial Consultant and

earn a rewarding career

Flexible work timings You can work whenever you like. You can

work full-time or part-time, depending on your convenience. However,

the time you invest will determine your success

Anyone can join - Young graduates, Housewives, Retired Personnel,

Self-employed or Working Professionals.

Zero Investment - There is no start-up capital required. Be your own

boss with flexible working environment, unlimited earning potential

and opportunities to be part of a world class sales team.

Attractive Remuneration - Company offers excellent commissions,

award and rewards for the performers.

You have unlimited earning potential. Commission structure is

pretty handsome and is 15-40% and renewal commission of 5% second

year onwards till the policy is in force.

Certificate by IRDA- You will get world class training free of cost

and certification by Insurance Regulatory Development Authority.

LIMITATIONS


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Every work has its own limitation. Limitations are extent to which the process

should not exceed. Limitations of this project are:-

The project was constrained by time limit of two months.

Mindset of people may vary depending upon their age, gender, income

etc.

Getting appointment from the concern person was very difficult.

People mind set about the survey was an obstacle in acquiring complete

information & positive interaction. Respondents were very busy in their schedule. So it was very time taken

in every

Questionnaire response by them.

RESEARCH DESIGN AND METHODOLOGY:


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The study is based on survey technique. The study consists of analysis of

recruitment procedure of HDFC standard life. For the purpose of the study 50

candidates were picked up and their views were solicited on different parameters.

Personal interviews of the candidates to ascertain the different method procedure

of recruitment of FCs in HDFC standard life . Further applying simple statistical

techniques have processed the data collected.

SOURCES OF DATA:

Primary data: Questionnaire

Secondary data: Published materials such as periodicals,books and website.

SAMPLING PLAN:


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Since it is not possible to study whole universe, it becomes necessary to take

sample from the universe to know about its characteristics.

Sampling Units: trainees, interns, employees.

Sample Technique: Random Sampling.

Research Instrument: Structured Questionnaire.

Contact Method: Personal Interview.

Sampling size: A sample of 50candidates of HDFC standard life was chosen for

the purpose of the study. Sample considers of student, regular employee and job

seekers.

Sampling Methods: Probability sampling requires complete knowledge about

all sampling units in the universe. Since due to time constraint non-probability

sampling was chosen for the study.

Sampling procedure: From large number of candidates of HDFC standard life

candidates were randomly picked up.

Field Study: the respondents were directly approached.


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CHAPTER-3

COMPANY

PROFILE


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DEFINITIONS OF INSURANCE:

GENERAL INSURANCE:

A contract in which one party agrees to pay for another parts financial

loss resulting from a specific event (for example, a collision, theft, or storm

damage). Lease agreement generally requires that you maintain vehicle collision

and comprehensive insurance as well as liability insurance for bodily injury and

property damage.

LIFE INSURANCE:

A system of protection against loss in which a number of Individuals agree to

pay certain sums of money, called premiums, to create a pool of money which will

guarantee that the individuals will be compensated for losses caused by events

such as fire, accident, illness, or death.


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Benefits of Insurance:

Insurance is the instrument of security, savings and peace of mind. It

provides several benefits by paying a small amount of premium to an insurance

company as: -

Safeguard oneself and ones family for future requirements.

Peace of mind-in-case of financial loss.

Encourage savings.

Tax rebate.

Protection from the claim by creditors.

Security against a personal loan or other type of loan.

Provide a protection cover to industries, agriculture, women

and child.

Provide good returns on investments.

ORIGIN OF THE ORGANISATION:

HDFC was incorporated in1977 with the primary objective of meeting a social

need- that of promoting home ownership by providing long-term finance to


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households for their housing needs. HDFC was promoted with an initial share

capital of Rs. 100 million.

ABOUT HDFC:

HDFC is Indias leading housing finance institution and has helped build

more than 23, 00,000 houses since its incorporation in 1977.

Rated AAA by CRISIL and ICRA for the 10th consecutive year.

Stable and experienced management.

High service standards.

Awarded The Economic Times Corporate Citizen of the year Award for its

long-standing commitment to community development.

Presented the Dream Home award for the best housing

finance provider in 2004 at the third Annual Outlook Money

Awards.


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o HDFC Mutual fund.

o HDFC Securities.

o HDFC Chubb General Insurance Company Limited.

HDFC STANDARD LIFE INSURANCE:

HDFC Standard Life Insurance Company Ltd. is one of India's

leading private insurance companies, which offers a range of individual and group

insurance solutions. It is a joint venture between Housing Development Finance

Corporation Limited (HDFC Ltd.), India's leading housing finance institution and a

Group Company of the Standard Life, UK. HDFC as on March 31, 2007 holds

81.9 per cent of equity in the joint venture.

ABOUT LIFE INSURANCE:

The Standard Life group has been looking after the

financial needs of customers for over 180 years

It currently has a customer base of around 7 million

people who rely on the company for their

insurance, pension, investment, banking

and health-care needs


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Its investment manager currently administers 125

billion in assets

It is a leading pensions provider in the UK, and is rated

by Standard & Poor's as 'strong' with a rating of A+ and as

'good' with a rating of A1 by Moody's

Standard Life was awarded the 'Best Pension Provider' in

2004, 2005 and 2006 at the Money Marketing Awards, and it

was voted a 5 star life and pensions provider at the

Financial Adviser Service Awards for the last 10 years

running. The '5 Star' accolade has also been awarded to

Standard Life Investments for the last 10 years, and to

Standard Life Bank since its inception in 1998. Standard Life

Bank was awarded the 'Best Flexible Mortgage Lender' at

the Mortgage Magazine Awards in 2006

Its business operates within six areas: UK Life &

pensions, Bank, Healthcare, Investments, Canada and

International.


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THE PARTNERSHIP:

HDFC and standard life insurance first came together for a

possible joint venture, to enter life insurance market, in

January 1995. It was clear from the outset both companies

shared values and beliefs and a strong relationship quickly

formed. In October 1995 the companies signed a 3-year joint

venture agreement.

Around this time standard life purchased a 5% stake in

HDF, further strengthening the relationship.

The next three years were filled with uncertainty, due to

changes in government and ongoing delays in getting the

IRDA (Insurance Regulatory and Development Authority) Act

passed in parliament. Despite this both companies remained

firmly committed to the venture.

In October 1998, the joint venture agreement was renewed

and additional resource made available. Around this time

standard life purchased 2%of Infrastructure Development


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Finance Company Ltd. (IDFC) standard Life also started to use

the services of the HDFC Treasury department to advise them

upon their investment in India.

Towards the end of 1999, the opening of the market

looked very promising and both companies agreed the time

was right to moves the operation to the next level. Therefore

in January 2000 an export team from the UK joined pocked

team from HDFC to r\from the core project team, based in

Mumbai. Around this time standard life purchased a further

5% stake in HDFC and 5% stake in HDFC Bank.

In a further development standard life agreed to

participates in the Asset Management Company promoted by

HDFC to enter the mutual fund market. The mutual fund was

launched on 20th July 2000.


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Incorporation of HDFC Standard Life Insurance

Company Limited:

The company was incorporated on 14th August 2000

under the name of HDFC Standard Life Insurance Company

Limited. Companys ambition from as far back as October

1995, was to be first private company to re-enter the life

insurance market in India. On the 23rd of October 2000, this

ambition was realized when HDFC Standard Life Insurance

was the only life company to be granted a certificate of

registration.

HDFC are the main shareholders HDFC Standard Life,

with 81.4%while standard Life owns 18.6% Given Standard

Lifes existing investment in the HDFC Group, this is the

maximum investment under current regulations.

HDFC and standard life have a long and relationship built

upon shared values and trust. The ambition of HDFC Standard

Life is to mirror the success of the parent companies and be


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the yardstick by which all other insurance companies in India

are measured.

HDFC Standard Life Insurance Company Limited. is one of

India's leading private insurance companies, which offers a

range of individual and group insurance solutions. It is a joint

venture between Housing Development Finance Corporation

Limited (HDFC Limited), India's leading housing finance

institution and a Group Company of the Standard Life Plc, UK.

As on February 28, 2009 HDFC Ltd . holds 72.43% and

Standard Life (Mauritius Holding) 2006, Ltd. holds 26.00% of

equity in the joint venture, while the rest is held by others.

KEY STRENGTHS:

Financial Expertise:As a joint venture of leading

financial services groups, HDFC Standard Life has the

financial expertise required to manage your long-term

investments safely and efficiently.


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Range of Solutions:We have a range of individual and

group solutions, which can be easily customized to specific

needs. Our group solutions have been designed to offer you

complete flexibility combined with a low charging structure.

OUR VISION & VALUES:

Our Vision: 'The most successful and admired life

insurance company, which means that we are the most

trusted company, the easiest to deal with, offer the best

value for money, and set the standards in the industry'.

'The most obvious choice for all'.

Our Values while we work:

Integrity


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Innovation

Customer centric

People Care One for all and all for one

Team work

Joy and Simplicity

PRODUCT PROFILE:

HDFC offers products as per the life stages of the customers

and their respective needs.


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Your insurance need will change as your life does, from

starting to work to enjoying your golden years and all the stages

in between. Each one of these stages may pose a different

insurance need/cover for you. In this section, we have drawn up


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the basic life stages and help you analyze various insurance

needs accordingly.

INDIVIDUAL PRODUCT:

We at HDFC Standard Life realize that not everyone has

the same kind of needs. Keeping this in mind, we have a

varied range of Products that you can choose from to suit all

your needs. These will help secure your future as well as the

future of your family.

PROTECTION PLANS:

You can protect your family against the loss of your income or

the burden of a loan in the event of your unfortunate demise,

disability or sickness. These plans offer valuable peace of

mind at a small price.

Term Assurance Plan

Loan Cover Term

Assurance Plan

INVESTMENT PLANS:


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fulfilling your childrens immediate and future needs. Our

Savings range includes

Endowment Assurance Plan

Unit Linked Endowment

Unit Linked Endowment Plus

Money Back Plan

Children's Plan

Unit Linked Young star

Unit Linked Young star Plus

HEALTH PLANS:

Our health plans provides you with timely support in case of

any health related emergencies and helps you and your

family to remain financially independent in difficult times

Critical care plan

Surqi care plan


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GROUP PRODUCTS:

One-stop shop for employee-benefit solutions

HDFC Standard Life has the most comprehensive list of

products for progressive employers who wish to provide the

best and most innovative employee benefit solutions to their

employees. We offer different products for different needs of

employers ranging from term insurance plans for pure

protection to voluntary plans such as superannuation and

leave encashment.

We now offer the following group products to our esteemed

corporate clients

Group Term Insurance

Group Variable Term Insurance

Group Unit-Linked Plan

SOCIAL PRODUCT:
http://www.hdfcinsurance.com/products/grp_gtistdprop.aspxhttp://www.hdfcinsurance.com/products/grp_gvti.aspxhttp://www.hdfcinsurance.com/products/grp_gtistdprop.aspxhttp://www.hdfcinsurance.com/products/grp_gvti.aspx


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Development Insurance plan is an insurance plan which

provides life cover to members of a Development Agency for

a term of one year. On the death of any member of the group

insured during the year of cover, a lump sum is paid to that

members beneficiaries to help meet some of the immediate

financial needs following their loss.

OTHER PRODUCTS:

Rural products

Tax benefits

PRODUCT ANALYSIS:

Endowment Assurance Plan:

You have given your family the very best. And there is no

reason why they shouldn't get the very best in the future too.

As a judicious family man, your priority is to secure the well-

being of those who depend on you. Not just for today, but

also in the long term. More importantly, you have to guard


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your loved ones against any eventuality. How will they sustain

their way of life, so lovingly built by you, in your absence?

With our HDFC Endowment Assurance Plan, you can ensure

that your family remains financially independent, even if you

are not around. You can ensure that they live a life of respect

and dignity always.

The HDFC Endowment Assurance Plan gives you:

An ideal way to secure your long-term financial goals

Valuable protection to your family by way of lump sum

payment in case of your unfortunate demise within policy

term

Lump sum payment (basic Sum Assured plus any bonus

additions) on survival up to maturity date

Very flexible benefit options and payment options

Unit linked endowment assurance:


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In this policy, the investment risk in investment portfolio

is borne by the policy-holder. You have given your family the

very best. And there is no reason why they should not get the

very best in the future too. With HDFC Unit Linked

Endowment plus II, you can ensure that your family remains

financially independent, even if you are not around. You can

ensure that they live a life of respect and dignity, Always.

The HDFC Unit Linked Endowment plus II gives:

Valuable protection to your family in case you are not

around

An outstanding investment opportunity by providing a

choice of thoroughly researched and selected investments

Regular Loyalty Units to boost your fund value every

year

Flexible benefit combinations and premium payment

options

Flexible additional benefit options such as critical illness

cover


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Multiple options for multiple benefits

Unit linked young star plan:

As a parent, your priority is your childrens future and

being able to meet their dreams and aspirations. Today,

providing a good education, establishing a professional career

or even a modest wedding is expensive. Costs are increasing

fast. Just imagine how much you will need when your children

take these important steps in life.

Plan today to ensure a bright future for your children. Start

building savings today with our HDFC Unit Linked Young Star

Champion so that your child is able to lead a life of respect

and dignity with a secured financial future.

The HDFC Unit Linked Young Star Champion gives:

Valuable protection to your child in case you are not around

An outstanding investment opportunity by providing a choice of

thoroughly researched and selected investments

Bumper Addition to the fund value at maturity

Flexible premium payment options


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No need to go for medicals. Just filling a Short Medical Questionnaire

will do!

Money Back Plan:

You have always believed in living life on your own terms. So why let

the changing realities of everyday life overwhelm you and make your

aspirations take a back seat? You can plan now to ensure that you have the

necessary funds to meet your future financial needs.

The HDFC Money Back Plan is a With Profit Plan that gives you:

A proportion of the basic Sum Assured as Cash lump sums at regular 5-

year intervals within the policy term (see the table given below) an ideal way

to secure your long- term as well as short-term financial goals.

A lump sum payment on survival up to maturity date.

Valuable protection to your family by way of lump sum payment in

case of your unfortunate death within the policy term

Single premium whole life insurance plan:


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The well-informed rightly said and proves how important investments

are in todays date and age. The question that we all fear is What about the

risks attached?

HDFC Standard Life Insurance brings to you a safe investment plan that

would take care of your savings and nurture your earnings

HDFC Single Premium Whole of Life Insurance Plan is a tailor-made plan

well suited to meet your long-term investment needs. This participating plan

offers you the following benefits:

Whole of life plan aimed at providing long-term real growth of your

money

Single premium investment plan

In case of your unfortunate demise during the policy term, this

participating (With Profits) insurance plan will pay your family the Sum

Assured and compound Reversionary Bonuses, which are usually added

annually. An additional Terminal Bonus may be paid depending on the

performance of the underlying investments

During Guaranteed Surrender Periods you get the Sum

Assured and all bonuses vested as at the date of surrender


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Term assurance plan:

The HDFC Term Assurance Plan is an insurance policy that is designed to

help secure your family's financial needs. The plan does this by providing a

lump sum to the family of the life assured in case of death or critical illness (if

option is chosen) of the life assured during the term of the contract. One can

choose the lump sum that would replace the income lost to one's family in the

unfortunate event of one's death

Loan Cover Term Assurance Plan:

This Plan provides a lump sum on the unfortunate death of the life assured

within the policy term. If you are taking a loan to buy a house for your family,

this plan can help you ensure that life's uncertainties do not affect their

shelter. It is an affordable plan that has been designed to help your family

repay the outstanding loan in case of your unfortunate death.


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Future:

HDFC has always been market-oriented and dynamic

with respect to resource mobilization as wall its lending

programmed. This renders it more than capable to meet the

new challenges that have emerged. Over the years, HDFC has

developed a vast client base of borrowers, depositors,

shareholders and agents, it hopes of capitalize on this loyal

and satisfied client base for future growth. Internal systems

have been development to be robust and agile, to account

changes in the volatile external environment.

HDFC has developed a network of institutional through

partnerships with some of the best institutions in the world,

for providing specialized financial services. Each institution is

being fine and service.


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ANALYSIS

AND

INTERPRETATION


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TABLE 1:

Can you please tell me your age?

Sl no. Category No. of respondents percentage

1. 18 - 24 30 60%

2. 25 - 35 10 20%

3. 35 - 40 5 10%

4. 40 & above 5 10%

total 50 100%


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GRAPH 1:

ANALYSIS:

Out of 50 respondents 60% are aged between 18 - 24 years, 20% between 25 35

years, 10% are aged between 35 40 and 10% are of 40 years and above.

INTERPRETATION:


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From the above table and graph its understood that majority, i.e. 60%, are

between 18 24 years and very less respondents, i.e. 10% of them are between 35-

40 years & 10% are above 40 years.

TABLE 2:

Gender.

Sl no Category No of respondents Percentage

1. Female 20 40%

2. Male 30 60%

Total 50 100%


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GRAPH 2:

ANALYSIS:


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Out of 50 respondents 40% were females and 60% were male.

INTERPRETATION:

From the above table and graph it can be understood that majority of respondents

are male.

TABLE 3:

Qualification?

Sl no. Category No. of respondents percentage

1. 2nd

PUC 25 50%

2. Graduation 10 20%

3. PG 5 10%

4. Others(including 2nd PUC) 10 20%

Total 50 100%


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GRAPH 3:

ANALYSIS:

Out of 50 respondents 50% of them are qualified with 2nd PUC, 20% are graduates,

10% are post graduates and 20% are qualified with others including 2nd PUC.


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INTERPRETATION:

From the above table and graph it can be understood that majority are qualifiedwith 2nd PUC and very less respondents are post graduates.

TABLE 4

Are you a,

Sl no Category No of respondents percentage

1. Student 25 50%

2. Professional/agent 15 30%

3. Housewife 5 10%

4. Retired 5 10%

Total 50 100%


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GRAPH 4:

ANALYSIS:


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Out of 50 respondents 50% of them are students, 30% are professional/ agents,

10% are housewives and 10% are retired.

INTERPRETATION:

From the above table and graph it can be understood that majority of the

respondents, i.e. 50% are students and housewives and retired respondents form

less and equal percentage, i.e. 10% each.

TABLE 5

Pursuing any other course/program?

Sl no. Category No of respondents Percentage

1. Yes 25 50%

2. No 25 50%

Total 50 100%


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GRAPH 5


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ANALYSIS:

Out of 50 respondents 50% of them are pursuing additional course and 50% ofthem are not pursuing any other course.

INTERPRETATION:

From the above table and graph 50% of the respondents are pursuing other

courses/ programs.

TABLE 6

Did you know about HDFC SLIC before?


1. Yes 35 70%

2. No 15 30%

total 50 100%


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GRAPH 6:


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ANALYSIS:

Out of 50 respondents 70% of them knew about HDFCSLIC and 30% of them dint

know about HDFCSLIC.

INTERPRETATION:

From the above table and graph majority, i.e. 70% of the respondents knew about

HDFCSLIC.

TABLE 7


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How did you get to know about the job in HDFC SLIC?


1. Ads in newspaper 5 10%

2. Internet 10 20%

3. Agency 5 10%

4. others 30 60%

total 50 100%

GRAPH 7:


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ANALYSIS:

Out of 50 respondents 10% of the respondents got to know about HDFC SLIC

through ads in news paper, 20% through internet,10% through agency and 60%

through other sources.

INTERPRETATION:

From the above table and graph majority, i.e. 60% of the respondents got to know

about HDFCSLIC through other sources and 10% each trough agency and ads in

newspaper.


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TABLE 8

Perception about insurance sector?


1. Hard & lucrative 10 20%

2. Hard but not rewarding 15 30%

3. Smooth & rewarding 5 10%

4. No idea 20 40%

total 50 100%


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GRAPH 8:

ANALYSIS:

Out of 50 respondents 20% think insurance sector is hard and lucrative, 30% thinkit is hard but not rewarding, 10% think it is smooth and rewarding and 40% have

no idea about the sector.

INTERPRETATION:

From the above table and graph majority, i.e. 40% of them have no idea about the

insurance sector and only 10% think it is smooth and rewarding.


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TABLE 9

Do you hold license from any other company?


1. Yes 5 10%

2. No 45 90%

Total 50 100%


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GRAPH 9:

ANALYSIS:

Out of 50 respondents 10% of them hold license from other company and 90% of

them dont hold license from other company.

INTERPRETATION:

From the above table and graph majority, i.e. 90% of the respondents do not hold

license from other companies.


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TABLE 10:

Why HDFC standard life insurance?


1. Pay scale 5 10%

2. Location 10 20%

3. Working hours 20 40%

4. others 15 30%

total 50 100%


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GRAPH 10:

ANALYSIS:

Out of 50 respondents 10% of them chose HDFCSLIC for its pay scale, 20% for its

location, 40% for working hours and 30% for other reasons.

INTERPRETATION:

From the above table and graph majority, i.e. 40% of the respondents chose

HDFCSLIC for its working hours and only 10% of them chose for its pay scale.


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TABLE 11:

What do you prefer?


1. Part time job 40 80%

2. Full time job 10 20%

Total 50 100%


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TABLE 12:

If you prefer part time job, please tell me the reasons for this priority.


1. Working elsewhere 4 10%

2. Studying/ plan to pursue other course 16 40%

3. For more income 8 20%

4. Others 12 30%

Total 40 100%


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GRAPH 12:

ANALYSIS:

Out of 40 part time job seekers 10% prefer part time as they are working

elsewhere, 40% as they are studying or planning to pursue other course, 20% for

more income and 30% for other reasons.

INTERPRETATION:

From the above table and graph majority, i.e. 40% prefer part time job as they are

studying or wanting to pursue other course and very less respondents are working

elsewhere.


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TABLE 13:

Which training do you prefer for obtaining the license?


1. Online 35 70%

2. Offline 15 30%

total 50 100%


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GRAPH 13:

ANALYSIS:

Out of 50 respondents 70% of them prefer online training and 30% of them prefer

offline training.

INTERPRETATION:

From the above table and graph it is understood that majority, i.e. 70% of the

respondents prefer online training.


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TABLE 14:

Opinion about recruitment process?


1. Excellent 10 20%

2. Good 25 50%

3. Average 15 30%

4. Below average 0 0%

Total 50 100%


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GRAPH 14:

ANALYSIS:

Out of 50 respondents 20% of them tell that the recruitment process was excellent.

50% of them tell it was good 30% of them tell it was average and none say it was

below average.

INTERPRETATION:

From the above table and graph it can be understood that majority, i.e. 50% of the

respondents say that the recruitment process was good and none of them said it

was below average.


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TABLE 15:

What of the below information was not informed during the pre-placement talks?


1. Company profile 30 60%

2. Job profile 5 10%

3. Job salary 10 20%

4. All the above 5 10%

Total 50 100%


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GRAPH 15:

ANALYSIS:

Out of 50 respondents 60% of the respondents say that they were not informed

about the company profile, 10% say that they were not informed about the job

profile, 20% say that they were not informed about the job salary and 10% of the

respondents say that they were not informed about all the above.

INTERPRETATION:

From the above table and graph majority, i.e. 60% of the respondents were not

informed the company profile and 10% each about the job salary and all the above.


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TABLE 16:

How would you rate the place and environment of the office during recruitment?


1. Excellent 10 20%

2. Good 35 70%

3. Average 5 10%

4. Below average 0 0

total 50 100%


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GRAPH 16:

ANALYSIS:

Out of 50 respondents 20% of them said that the office environment was excellent

during recruitment, 70% said it was good, 10% said it was average and none said it

was below average.

INTERPRETATION:


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From the above table and graph it can be understood that majority, i.e. 70% of

them said that the office environment was good during recruitment and none said it

was below average.

TABLE 17:

Where do you want to make your career?


1. Working for Indian banks 10 20%

2. Working for MNC banks 30 60%

3. Working for investment banks 5 10%

4. Working for BPOs 5 10%

Total 50 100%


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GRAPHS 17:

ANALYSIS:


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Out of 50 respondents 20% of them want to make their career in Indian banks,

60% in MNC banks, 10% in Investment banks and another 10% in BPOs.

INTERPRETATION:


respondents want to make their career in MNC banks and 10% each in investment

banks and BPOs.

TABLE 18:

Do you think you can make a career in HDFC SLIC?


1. Yes 40 80%

2. No 10 20%

Total 50 100%


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GRAPH 18:

ANALYSIS:


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Out of 50 respondents 80% have an opinion that they can make a career in

HDFCSLIC and 20% have an opinion that they cannot make a career in HDFC

SLIC.

INTERPRETATION:


respondents have an opinion of making their careers in HDFCSLIC.

SUMMARY

OF FINDINGS


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SUMMARY:

Out of 50 respondents majority, i.e. 60%, are between 18 24 years and

very less respondents, i.e. 10% of them are between 35-40 years & 10% are

above 40 years.

Out of 50 respondents majority of them were male.

Out of 50 respondents majority are qualified with 2nd PUC and very less

respondents are post graduates.


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Out of 50 respondents majority of the respondents, i.e. 50% are students and

housewives and retired respondents form less and equal percentage, i.e. 10%

each.

Out of 50 respondents 50% of the respondents are pursuing other courses/

programs.

Out of 50 respondents majority, i.e. 70% of the respondents knew about

HDFCSLIC.

Out of 50 respondents majority, i.e. 60% of the respondents got to know

about HDFCSLIC through other sources and 10% each trough agency and

ads in newspaper.

Out of 50 respondents majority, i.e. 40% of them have no idea about the

insurance sector and only 10% think it is smooth and rewarding.

Out of 50 respondents majority, i.e. 90% of the respondents do not hold

license from other companies.

Out of 50 respondents majority, i.e. 40% of the respondents chose

HDFCSLIC for its working hours and only 10% of them chose for its pay

scale.


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Out of 50 respondents majority of the respondents, i.e. 80% prefer part time

job.

Out of 50 respondents majority, i.e. 40% prefer part time job as they are

studying or wanting to pursue other course and very less respondents are

working elsewhere.

Out of 50 respondents majority, i.e. 70% of the respondents prefer online

training.

Out of 50 respondents majority, i.e. 50% of the respondents say that the

recruitment process was good and none of them said it was below average.

Out of 50 respondents majority, i.e. 60% of the respondents were not

informed the company profile and 10% each about the job salary and all the

above.

Out of 50 respondents majority, i.e. 70% of them said that the office

environment was good during recruitment and none said it was below

average.

Out of 50 respondents majority, i.e. 60% of the respondents want to make

their career in MNC banks and 10% each in investment banks and BPOs.


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Out of 50 respondents majority, i.e. 80% of the respondents have an opinion

of making their careers in HDFCSLIC.


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SUGGESTIONS

AND CONCLUSION

SUGGESTIONS:


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Company can 1st of all make efforts to tell their existence.

Company should make different slots to housewives, student and retired.

Company should have unique profiles for married women, students and

retired considering their routine.

Company should promise more benefits to attract more people towards the

job of financial consultants.

Company can make people aware of the existence of financial consultant job

through:

(i) Print media

(ii) Banners

(iii) Can recruit sales promoters to explain job profile.

Company can recruit people who are really efficient in making business

irrespective of their qualification.

All financial consultants might not be good in communication skills. Hence

company can include communication session during recruitment.


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Company must make people understand the activities authorizations and

validity of IRDA.

Company can place stalls in trade fares to make people aware of the

opportunities in the company.

Company can 1st give clear picture about the insurance sector and its benefit

as it is actually the most beneficial to the everyone.

Company can develop benefits or support to those seeking education and

attract more people.

Company can avail additional benefits to the financial consultants.

Company can announce more rewards and fixed monthly salary to financial

consultants who reach the target. This can bring confidence in people &

attract them towards the job.

Company can give free life cover or discount on life cover to active financial

consultants.

Company can avail discount rate premium for the family members of the

financial consultants.


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Company can show additional and alternative source of income for the

financial consultants so as to be able to recruit more people to the job.

People get attracted when there is a word mentioned FREE. Hence company

can give a free policies if certain fixed policies or plans are taken. Thus

lessening the burden for the financial consultants and encouraging people

especially the unemployed to take up the job.

Company can assure a career to the people who want to make career in this

particular company by helping them reach targets.

It should not only be an assurance but the management must also give a

helping hand to the the aspiring candidates.

Company can open branches in rural areas, as there are many aspiring and

efficient candidates in rural areas.

CONCLUSION:


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ANNEXURES

&

QUESTIONNAIRE


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QUESTIONNAIRE:

Name: _________________________

Address: _________________________

Phone number: _________________________

1. Can you please tell me your age?

18-22 [ ] 23-27 [ ]

27-35 [ ] 40 & above [ ]

2. Gender?


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Male [ ] Female[ ]

3. What is your qualification?

II PUC [ ] Graduation [ ]

PG [ ] Others [ ]

4. Are you a

Student [ ] Professional/An agent [ ]

House wife [ ] Retired [ ]

5. Are you pursuing any additional course /program currently?

Yes [ ] No[ ]

6. Did you know about HDFC SLIC before?

Yes [ ] No[ ]

7. How did you get to know about the job in HDFC Standard Life Insurance?

Ads in Newspapers [ ] Internet [ ]

Agency [ ] Others [ ]

8. What is your perception about insurance sector?

Hard and lucrative [ ]

Hard but not rewarding [ ]


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Smooth and rewarding [ ]

No idea [ ]

9. Do you hold license from any other insurance company?

Yes [ ] No [ ]

10. Why did you choose HDFC Standard Life Insurance?

Pay Scale [ ] Location [ ]

Working hours [ ] Others [ ]

11. What do you prefer?

Part time job [ ] Full time job [ ]

12. If your priority is part time, please tell me the reason for this preference.

Working elsewhere [ ]

Studying/ plan to pursue other course [ ]

For more income [ ]

Others [ ]

13. Can I know the training you preferred for obtaining license?

Online [ ] Offline [ ]


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14. What is your opinion about the recruitment process?

Excellent [ ] Good [ ]

Average [ ] Below average [ ]

15. What of the below information was NOT informed during the pre-placement

talks?

Company profile [ ] Job profile [ ]

Job salary [ ] All the above [ ]

16. How would you rate the place and environment of the office during

Recruitment?Excellent [ ] Good [ ]

Average [ ] Below average[ ]

17. Where do you want to make your career?

Working for Indian banks [ ]

Working for MNC Banks [ ]

Working for Investment banks [ ]

Working for BPOs [ ]

18. Do you think you can make a career in HDFC Standard Life Insurance ?


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Yes [ ] No [ ]

BIBLIOGRAPY

WEBSITES:

www.google.com
http://www.google.com/http://www.google.com/

Documents

Project on Recruitment 03