akash chatterjee

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A PROJECT REPORT

On

Study of Talent Acquisition Process

AT

BAJAJ ALLIANZ LIFE INSURANCE COMPANY

HUMAN RESOURCE

By

SWATI SOOD

SINHGAD INSTITUTE OF MANAGEMENT

S.NO.44/1, VADGAON (BK), PUNE -41

* 2011 *

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ACKNOWLEDGEMENT

Any accomplishment requires the effort of many people and this work is no different. It has been my proud

privilege to be attached withBAJAJ ALLIANZ, a highly professional Insurance company with a modern

outlook.

The experience I gained out of learning new things, the zeal during the project and the satisfaction of

making this report is incomplete without mentioning a few names.

I take this opportunity to express my deep gratitude to Mrs. Kirti Sehgal, Senior Executive HR; Miss Sonal

Sood {HR} atBALIC Head Office,Pune for accommodating me as a project trainee. Her valuable

guidance and support in providing information throughout the project work was unforgettable and will help

me in my future endeavors as well.

I would like to extend my deepest regards to the entire Talent Acquisition Team and all the managers and

AVPs of BALIC.

I am highly indebted to my project guide Mr. John Peter for his guidance, constant supervision an

valuable inputs.

Finally I thank my family, friends and co-interns at BALIC who have contributed a lot to make this project

a success.

Aakash Chatterjee

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PREFACE

In todays competitive world, people are a companys most important asset and placing the right person in

the right position is very critical for the success of the organization.

Recruitment represents the first contact that a company makes with the personnel having potential to b

employed. Recruitment and selection is a multifaceted concept. Recruitment is the next step in th

procurement function, the first being manpower planning. The HR proceeds with the identification o

sources of recruitment and finding suitable candidates for employment. Both internal and external source

of manpower are used depending upon the types of personnel needed.

In this project I have encapsulated Recruitment and Selectionprocess of BAJAJ ALLIANZ LIFINSURANCE COMPANY. My involvement in this project has been challenging and has provided me

platform to leverage my potential in the most constructive way.

Bajaj Allianz Life Insurance Company is one of Indias leading financial institutions. It has achieved

steady and confident growth to success in a short span of 10 years.

This project is an honest effort aimed at understanding the process of Recruitment and Selection at Baja

Allianz Life Insurance Company.

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CONTENTS

Sr. No. Description Page No.

LIST OF TABLES

Table No. Table Name Page No.

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LIST OF GRAPHS/CHARTS

Chart No. Chart Title Page No.

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1. PROJECT PROFILE

1.1 OBJECTIVES

To study the

entire process of recruitment and selection at Bajaj Allianz Life Insurance Company.

1. To understand and analyze the various functions of the Talent Acquisition team at Bajaj Allianz.

2. To study the various sources of recruitment followed in Bajaj Allianz.

3. To headhunt personnel whose skill fits in the companys values.

4. Take an overview of the recruitment challenges faced by the company.

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5. To find out the shortcomings in the recruitment process if any.

1.2 RESEARCH METHODOLOGY

1.1.1 Research Methodology

Research is a structured enquiry that utilizes acceptable scientific methodology to solve

problems and create new knowledge that is generally applicable.

Scientific methods consist of systematic observation, classification and interpretation of data.

It is the science of dealing with principles of procedure in research and study

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Research was carried out at Bajaj Allianz Life Insurance Company to find out the process of

Recruitment and Selection.

1.2.2 Research Design

Research Designs are concerned with turning the research question into a testing project.

The research design can be considered as a blueprint prepared by the researcher before the

actual research work.

The best design depends on the research questions. It includes:

1. What questions to study?

2. What data are relevant?

3. What data to collect?

4. How to analyze the results?

1.2.3 Sample Size

The sample size is an important feature of any empirical study in which the goal is to mak

inferences about a population from a sample.

The sample size for this research was 12 employees of the Talent Acquisition Team who ar

directly involved in the Recruitment process.

1.2.4 Sources of Data Collection

The task of data collection is the actual first step in the process of carrying out the research.

In this particular report two types of sources of data have been used :

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1.2.4.1 Primary Data

This type of data is collected afresh and for the first time and thus happens to b

original in character.

In the case of this report, ways of collecting primary data were :

Questionnaire to Talent Acquisition Team

Formal and Informal Interaction

Observation

1.2.4.2 Secondary Data

It is the data which has been collected by individual or someone else for the purpos

of other than those of a particular research study. Or in other words we can say tha

secondary data is the data used previously for the analysis and the results ar

undertaken for the next process.

In the case of this report, ways of collecting secondary data were:

Books & Journals

Magazines

Websites

Records of the organization

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1.3 SCOPE

1.3 SCOPE

The scope of the project covers the Recruitment and Selection process carried out by the Talen

Acquisition Team of Bajaj Allianz Life Insurance Company, Head Office; Pune.

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The project encompasses the working of the Talent Acquisition Team comprising of 1

members including the TA Head.

It also considers the responses from the Talent Acquisition Department members who wer

asked to give their opinions.

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1.4 LIMITATIONS

1.4 LIMITATIONS

There were some constraints during the project because of which perfection cannot be ensured

out of total findings.

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Limitations:

1. Time constraint: The time period of 2 months was too short to understand the Recruitment

and Selection of different levels of employees.

2. Confidential information was not revealed according to the rules and conditions of the

organization.

3. The interaction was limited to the Talent Acquisition Team in the Head Office, Pune.

2. INTRODUCTION

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2. THEORETICAL BACKGROUND

RECRUITMENT AND SELECTION:

Human Resource is a basic need of any work to be done. According to ARTHUR LEWIS:

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There are great differences in development between countries which seem to have roughly equal

resources, so it is necessary to enquire into the difference in human behaviors

After the identification of need for the number and types of personnel as indicated by human resource

planning and the types of jobs that personnel will perform and the qualities that these personnel should

have as indicated by job analysis, the process of undertaking such personnel should be undertaken by the

organization.

This acquisition involves:

Location of these personnel

Attracting them to offer them for selection

Making selection of the suitable personnel who may be able to perform the assigned jobs

effectively.

Thus, there are two distinct activities involved in acquisition process

Recruitment and Selection.

The total process of acquiring and placing human resources in the organization can be shown as follows:

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Human resource

planning

Job analysis


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FIGURE 1: Linkage of recruitment and selection to human resource acquisition

2.1 Concept of Recruitment

Recruitment is the process concerned with the identification of sources from where the personnel can b

employed and motivated to offer themselves for employment.

Werther and Davis have defined this as follows

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Placement

Selection

Recruitment


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Recruitment is the process of finding and attracting capable applicants for employment. The proces

begins when new recruits are sought and ends when their applications are submitted. The result is a poo

of applicants from which new employees are selected.

Purpose and Importance

Recruitment represents the first contact that the company makes with the personnel having potential to b

employed. From the point of view of the potential candidates, recruitment is the process through which they

come to know about the company and nature of jobs that are being offered.

Therefore, if recruitment process is carried on successfully, it serves the following purposes :

It determines the present and future human resource requirements of the organization in conjunctio

with human resource planning activities and job analysis activities.

It helps to increase the pool of potential personnel and the organization has a number of options t

choose from.

It helps in increasing the success rate of the selection process by filtering the number of unde

qualified or overqualified job applicants

It helps in evaluating the effectiveness of various recruitment techniques and sources of recruitment

It helps to meet the organizations legal and social obligations regarding composition of i

workforce.

2.1.1 Recruitment Policy

Recruitment policy spells out the objectives and principles of the recruitment and provides

framework for implementation of the recruitment programs in the form of procedures.

Recruitment policy covers the following areas:

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1. To prescribe whether the recruitment would be centralized or decentralized at unit levels.

2.To prescribe the degree of emphasis that would be placed on recruiting from inside the

organization or outside the organization and different outside sources.

3. To provide the weightage that would be given to certain categories of people such as local

population, schedule caste etc.

4. To specify the degree of flexibility with regards to age, qualifications, compensation structure

and other service conditions.

5.To prescribe the personnel who would be involved in recruitment process and the role of HR

department in this regard.

6.To specify the budget for meeting the expenditures incurred in completing the recruitment

process.

2.1.2 Factors Affecting Recruitment

Several factors affect the recruitment policy .These factors can be either external or internal to th

organization.

EXTERNAL FACTORS

i) Nature of competition for Human Resources

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ii) Legal factors

iii) Socio cultural Factors

iv) External influences

INTERNAL FACTORS

i) Organizational image

ii) Recruitment policy of organization

iii) Size of organization

iv) Type of personnel to be recruited

v) Past practices

2.1.3 Recruitment Process

This process includes recruitment planning, identification of recruitment sources, contacting thos

sources and receiving applications from prospective employees. These applications are then passed o

to the selection process.

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Recruitment

Planning

Sources of

Recruitment

ContactingSources

To SelectionProcess

ApplicationPool


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FIGURE 2: Recruitment Process

2.1.4 Sources of Recruitment

An organization can look for filling the vacancies through either Internal or External sources.

INTERNAL SOURCES

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o Present Personnel (Promotions and Transfers)

o Employee Referrals

EXTERNAL SOURCES

o Advertisements

o Campus Interview

o Management Consultants

o Government and Private Employment Exchanges

o Labor or Trade Unions

o Professional Organizations

o Casual Applicants

o Job Fairs

o Poaching and Raiding

o Walk in Interviews

o Recruiting on internet (Job Portals)

2.2 Concept of Selection

Selection is the most crucial stage in the process of acquiring human resources in an organization. Afterbuilding the application pool through the process of recruitment, the next step is the selection of the

personnel who can fit the overall job requirements in the light of job description, role analysis and job

specification.

It can be conceptualized in terms of either choosing the fit candidates or rejecting the unfit candidates, or a

combination of both.

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A more formal definition of selection is as follows:

Selection is the process of differentiating between applicants in order to identify (and hire) those with a

greater likelihood of success in the job.

2.2.1 Need for Scientific Selection Methods

To reduce Margin of Errors

To minimize cost of personnel

To meet environmental requirements

2.2.2 Selection Process

A selection process involves a number of steps screening of application forms, selection tests, selection

interviews, checking of references , Physical examination , approval by appropriate authority and handing

over the selected candidates to orientation and placement section.

However, it is not necessary that all these steps are involved in every selection process.

The basic idea is to solicit maximum possible information about the candidates to ascertain their suitability

for employment.

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Application Pool from

Recruitment Process

Screening of Application

Forms

Selection Tests


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FIGURE 3: Steps In Selection Process

2.2.3 Selection Tests

Selection tests have gained popularity in selection process because of their positive contribution to this.

They are popularly known as psychological tests as they measure the psychological characteristics of a

person.

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Employment Contract

Selection Interviews

Final Selection

Approval by Appropriate

Authorit

Physical Examination

Checking of References

Evaluation


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It is essentially an objective and standardized measure of a sample of behavior.

TYPES OF TESTS

Ability Test

Achievement Test

Intelligence Test

Aptitude Test

Personality Test

Thematic Apperception Test

Mayers-Briggs Type Indicator

Interest Test

2.2.4 Selection Interview

Selection interview, also known as employment interview, is a formal, in-depth conversation conducted to

evaluate the acceptability of candidates for employment.

Its aim is to discover those aspects of an applicant which may not be disclosed by other methods.

Interview can be used as tool for giving information about the organization , its policies , nature of job to b

performed , salary and other benefits to be offered etc.

TYPES OF INTERVIEW

ON THE BASIS OF CONTACT

One-to-One Interview

Panel Interview

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ON THE BASIS OF INTERACTION PATTERN

Structured Interview

Unstructured Interview

Depth Interview

Stress Interview

3. ORGANIZATIONAL PROFILE

Bajaj Allianz Life Insurance Company Limited

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Bajaj Allianz Life Insurance Company Limited is a joint venture between Allianz SE of Germany, one of

the worlds largest Life Insurance companies and Bajaj Fincer Limited.

BALIC came into being on 12th March 2001.

The company received IRDA (Insurance Regulatory & Development Authority) Certificate of Registration

on 3rd August 2001 to conduct Life Insurance Business in India.

Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world

managing assets worth over a Trillion Euros (Over R. 55,00,000 crores). Allianz SE has over 115 years of

financial experience in over 70 countries. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the

offices are interconnected with the Head Office at Pune.

Bajaj Auto is one of the most trusted name is Indian auto for over 55 years.

At Bajaj Allianz customer delight is the guiding principle.Ensuring world-class solutions by offering customized products with transparent benefits, supported by

best technology is the business philosophy.

Specialties

One of the market leaders in terms of customer satisfaction and quality processing.

Today Bajaj Allianz is one of the Indias Leading and Fastest Growing Insurance Companies. Currently it

has presence over 550 locations with over 60,000 Insurance Consultants.

In June 2008 Bajaj Allianz entered into partnership with Thomas Cook India to provide travel Finance.

Bajaj Alliance Life insurance ensures excellent insurance and investment solutions, by providing

customized Products, supported by best technology.

NATIONAL NETWORK

BALIC has a Pan India presence with The Corporate Office located at Pune

8 Zonal Offices located at Delhi , Bhilwara , Kolkatta , Indore , Pune , Bangalore and Chennai

700+ branches

6 hubs Pune , Chandigarh , Bhilwara , Kolkata , Salem and Coimbatore

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Over 10,000 Sales Managers

Over 3,00,000 Insurance Consultants

More than 10 Banc assurance partners across country

Strong Alternate Channel with about 1900+ Franchisees , over 250 corporate agents , more than 35

brokers , and 6 co op banks

Over 80 Direct Marketing Branches operating nationwide.

Vision

To be the BEST Life Insurance Company in India

To Buy From,

Work For &

Invest In

Mission

As a responsible, customer focused market leader, BALIC will strive to understand the insurance needs of

the consumers and translate it into affordable products that deliver value for money.

Culture at Bajaj Allianz

Bajaj Allianz will be:

A winning team

Have passion for excellence and hate bureaucracy

Be empowered , have the confidence to take decisions quickly and be accountable

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Be driven to achieve results , to deliver

Be professional and socially commited

Be open to ideas , sharing , transparent and trusting

Make BALIC a great place to work

Have a sense of humor

The Bajaj Allianz Way

Invest in people Pay/develop/career planning

Dominate your market Be decisive/communicate clear goals

Never sit still change continually/revolutionize

Think service ; service ; service continuous improvement

Learn and lead be prepared to listen

Tell the facts as they are clear communication

Kill bureaucracy boundary less/ideas not management layers/informality/speed

Manage the business like a corner shop customer satisfaction/employee satisfaction/cash flow.

INTERNAL GRADING STRUCTURE

GRADE DESCRIPTION

L5 Department Heads

L4

L4 A

Department Heads / AVPsL4 B

L3

L3 A

Sr. Managers / AVPsL3 B

L2

L2 A

Managers / Supervisory RolesL2 B

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L1

L1 A

Executives / Customer Support ExecutivesL1 B

TABLE 1: Internal Grading Structure of BALIC

PRODUCTS OFFERED BY BALIC -

A comprehensive list of policies and product offered by Bajaj Allianz insurance company is limited is as

follows.

Unit Gain Plan

New unit gain super

Unit gain plus gold

New unit gain plus

New unit gain

Young care

Young care plus

New family gain-R

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Single premium

Unit gain premium SP

New unit gain SP

Pension plans

Annuity

Pension guarantee

Retirement

Future income generator

Swarna vishranti

New unit gain easy pension plus RP

New unit gain easy pension plus SP

Future secure

Traditional plans

Endowment

Invest gain

Save care economy SP

Life time Car

Super saver

Cash gain

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Term plans

Protector

Term care

New risk care

Women insurance plans

House wife

Working women

Health plan

Care first

Health care

Family care first

Children plans

Child gain

Non employer employee

Credit shield

Group term life (Non employer employee)

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Group sureksha

Swayam Shakti suraksha

Group income protection

Employer Employee

Group term life (employer employee)

New group gratuity care

New group annuation care

Group save plus

Group term life in lieu of EDLI

Group leave encashment scheme

Group annuity

Group super annuation gold

Group gratuity gold

Micro insurance

Alp Nivesh Yogana

Jana Vikas Yojana

Saral Sureksha Yogana

Other plans

Family assure

Fortune plus

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Capital shield

Century plus II

HIERARCHY OF SALES DEPARTMENT

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Head of Sales

Regional Manager

Zonal Manager

Divisional Manager

Branch Manager


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FIGURE 5: Organizational structure

STRUCTURE OF TALENT ACQUISITION DEPARTMENT IN BALIC

HEAD OF DEPARTMENT

Training & Development Operations Business HRs Performance Management

(AVP) (AVP) (AVP) (AVP)

Asst.Managers Asst.Managers Asst.Managers

Deputy Manager Deputy Talent Acquisition Deputy Manager

Manager (HEAD)

Asst. Manager

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Insurance Consultants

Sales Manager


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Sr.Executive

Executive

Jr.Executive

FIGURE 4: Structure of HR Department in BALIC HO

4. REVIEW OF LITERATURE

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Meaning of HUMAN RESORCE MANAGEMENT

Human Resource plays a crucial role in the development process of the modern economics. ARTHUR

LEWIS observed

There are great differences in development between countries which seem to have roughly equal

resources, so it is necessary to enquire into the difference in human behaviors.

Human resource management is the management of employees skill, knowledge abilities, talent, aptitude,

creativity, ability etc.

Different terms are used for denoting Human Resource Management.

They are labor management, labor administration, labor management relationship, employee employer

relationship, industrial relationship, human capital management, human assent management etc.

Though these terms can be used differently , the basic nature of distinction lies in the scope or coverage

and evolutionary stage.

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In simple sense, human resource management means employing people, developing their resources,

utilizing, maintaining and compensating their services in tune with the job and organizational requirements

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Functions of HUMAN RESOURCE MANAGEMENT

Administration:

Strategic planning, organizational evaluation, County Board relations, policy recommendations,

supervision of department staff

Benefits:

Health insurance, dental insurance, life insurance, disability insurance, retirement benefits, vacation, sick

leave, paid holidays, section 125 plan, donor program, educational incentive, uniform allowance, and

others.

Compensation:

Salary and benefit surveys, job evaluation, job descriptions evaluation, job descriptions

Employee relations:

Disciplinary processes, incident investigations, complaint/grievance procedures, labor-management

relations.

Employee services:

Enrollment in benefits, employee discounts for recreational spots, resolution of enrollment or claim

problems, employee newsletter. Educational assistance, employee service awards

Fiscal:

Staffing budgets, departmental budget, accounts payable, insurance receivables, insurance fund

management, total package costing. Insurance receivables, insurance fund management, total package

costing.

Health and safety:

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Employee assistance, workers compensation claims, drug testing, safety compliance and training.

Leaves of absence:

State and/or Federal Family and Medical Leave rights, County approved leaves of absence, rights upon

return to work, light duty assignments for temporary periods.

Payroll administration:

Computer-based or manual evaluation systems, supervisory training, compliance with timeliness standards

Performance appraisal:

Employee files, litigation files, payroll records, safety records and other administrative files

Record-keeping:

Job posting, advertising, testing administration, employment interviews, background investigations, post-

offer employment testing.

Recruitment:

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

staffing schedule and to employ effective measures fir meet the requirement of the staffing schedule and to

employ to employ effective measures for attracting the manpower in adequate numbers to facilitate

effective selection of an effective workforce.

Selection:

After identifying the sources of human resources, searching for prospective employees and stimulation

helps to apply for jobs in an organization, the management has to perform the function of selecting the righ

man at right job and at the right time.

Separations and terminations:

Rights upon termination of employment, severance benefits, unemployment compensation, exit interviews

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Training and development:

County-wide needs assessment, development of supervisory and management skills, employee training and

workshops. Benefits orientations for new and transferring employees, Supervisory newsletter.

Salary and benefits:

Salary/wage plans, employee benefits

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Importance of Human Resource Management -

1: Attract highly qualified and competent people

2: Ensure that the selected candidate stays longer with the company

3: Make sure that there is match between cost and benefit

4: Helps the organization to create more culturally diverse workforce

Whereas, the poor quality of selection means extra cost on training and supervision. Furthermore, when

recruitment fails to meet organizational needs for talent, a typical response is to raise entry level pay scales

This can distort traditional wages and salary relationship in organization, resulting in unavoidable

consequences. Thus the effectiveness of the recruitment process can play a major role in determining the

resources that must be expended on other HR activates and their ultimate success.

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5. ANALYSIS OF DATA

Questionnaire for Talent Acquisition Team

Q.1.Which recruitment channel does Bajaj Allianz use for recruitment process?

a. Employee referral

b. Campus recruitment

c. Advertising

d. Recruitment agencies

e. Job portals

f. Other, please specify

Options Respondents

Employee referral 2

Campus recruitment 1

Advertising 1

Recruitment agencies 0

Job portals 8

Other 0

Q.2. How do you come to know about vacancy in company?

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Through the requisitions received by the concerned departments.

Q.3. How many stages are involved in selecting the candidate?

a. 1

b. 2

c. 3

d. 4

e. More

Options Respondents

1 0

2 0

3 10

4 2

More 0

Q.4.Potential Candidates in the Organization are generated through which of the following

recruitment sources:

(Tick and rank them based on the number and quality of candidates generated. Also roughly specify the

percentage mix of each of the following sources adopted.)

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Options Respondents Ranking

Direct Applicants 2

Placement Consultants 7

Job portals 1

Employee Referral 3

Temporary Staffing 6

Campus Recruitment 4

Advertising 5

Q.5. Are you happy with your current online recruitment channel?

a.Yes

b.No

If No. Why?

Options Respondents

Yes 12

No 0

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Sr. No. Sources Ranking Percentages

1 Direct applicants

2 Placement Consultants

3 Job portals

4 Employee referral

5 Through temporary staffing

6 Campus recruitment

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Q.6.How is the performance of Online Recruitment over all return on investment?

Cost Time Technology Search Response Support

Number of Respondents

Very

Good

0 2 4 1 1 1

Good 9 7 8 2 7 8

Ok 3 3 0 9 4 3

Bad 0 0 0 0 0 0

Very Bad 0 0 0 0 0 0

Performance of online recruitment on overall investment

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Q.7.Do you think Bajaj Alliance should outsource the recruitment needs?

a.Yes

b.No

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If Yes / No. Why?

Options Respondents

Yes 2

No 10

Q.8.Would you like to increase or decrease the use of onlinerecruitment channel?

a.Yes

b.No

If Yes / No Why?

Options Respondents

Increase 8Decrease 4

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Q.9.Do you use any of the following tests during the process of recruitment?

a. Written

b. Aptitude

c. Group Discussiond. Personal Interview

e. Psychometric test


(Multiple Selection)

Options Respondents

Written 7

Aptitude 10

Group Discussion 1

Personal interview 12Psychometric test 0

Other 2

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10. How do you track the source of candidate?

a. Manual

b. Software

c. Online

d. Windows. Xls


Options Respondents

Manual 0

Software 10

Online 12

Windows.Xls 1

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Q.11.What is the average time spent by HR dept. during recruitment (each candidate)?

a. 10 to 20mins.

b. 20 to 30mins.

c. More than 30 mins.

Options Respondents

10 to 20 mins 0

20 to 30 mins 2

More than 30 mins 10

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Q.12.Do you follow different recruitment process for different grades of employees?

a. No

b. Yes

Options Respondents

Yes 12

No 0

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12

0

Different Recruitment process for different

grades of employees

Yes

No


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Q.13. What is the back out percentage of candidates after being offered?

a.1%-5%b.5%-10%

c.10%-15%

d. 15%-20%

Options Respondents

1%-5% 1

5%-10% 6

10%-15% 2

15%-20% 3

Q.14. Out of total recruitment in a year, what is the percentage of internal recruitment?

a.0% - 5%

b.5% - 10%

c.10% - 15%

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d.15% - 20%

e.20% - 25%

f.More than 25%

g. Not at all

Options Respondents

0% - 5% 1

5% - 10% 0

10% - 15% 0

15% - 20% 020% - 25% 9

More than 25% 2

Not at all 0

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Q.15. Do you take any technological support for the process of recruiting?

a. Telephone

b. Video conferencing

c. Online supportd. Other, pls specify


Q.16. In how much time does the whole process generate results?

(Time taken in the whole process i.e. from tests, personal interviews to final list of selected

candidates)

5 6 hours

Q.17. Do you do the Employment Eligibility Verification? Yes/No

If yes, then, what method you take up to perform it?

a. Internally

b. Through agencies

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Options Respondents

Telephone 12

Video conferencing 12

Online support 1

Other 0

Options Respondents

Internally 0

Through agencies 12


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Q.18. What kind of verifications you do?

a. Educational qualifications

b. Legal background check

c. Professional background check

d. Reference check

e. Family background check


Options Respondents

Educational qualifications 12

Legal background check 12

Professional background check 12

Reference check 12

Family background check 12

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19. What source has provided you with highest performers?

(Both quantity wise and quality wise)

The top sources found are

1. Job Portals

2.Employee Referrals

Options Respondents

Job Portals 7

Employee Referrals 5

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20. Have you outsourced any of the recruitment activities? Yes/No

If yes, then pls specify which one?

Options RespondentsYes 0

No 12

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21.What is the percentage of NO SHOWS? (Scheduled candidates not turning up for joining the job)

a.0% - 5%

b. 5% - 10%

c.10% - 15%

d.More than 15%

e.Not at all

Options Respondents

0% - 5% 0

5% - 10% 8

10% - 15% 3

More than 15% 1Not at all 0

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22. How do you plan and avoid NO SHOWS. (Scheduled candidates not turning up for joining the

job)

Response

1. Constant communication with the candidate

2. Transparency between the employer and proposed employee

3. Empathetic nature

Response Respondents

Constant communication 10

Transparency 1

Empathetic nature 1

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23. Which is the biggest challenge that you face in the whole process of recruitment?

Response

1. Retaining Candidates

2. Documentation

3. Sourcing

Response Respondents

Retaining Candidates 4

Documentation 3Sourcing 5

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6. OBSERVATIONS & FINDINGS

6 Observations and Findings of the Study

6.1 Findings from Questionnare :

After analyzing the questionnaires filled by the Talent Acquisition Team of Bajaj Allianz Head Office,

Pune , it appears that :

1. Bajaj Allianz uses job portals, employee referrals, campus recruitments and Advertising as channel

for the recruitment process.

2. Job portals and Employee referral are the most preferred sources of recruitment.

3. During the Recruitment and Selection process, generally three rounds of interviews are held

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4. The TA team is satisfied with the current online recruitment channel.

5. Performance of online recruitment over return on investment is GOOD with regards to Cost, Time,

Technology, Search, Response and support.

6. Bajaj Allianz does not outsource their recruitment needs. The reasons being :

Availability of talented and skilled HR recruiters who continuously map the need of all the

departments and current market conditions.

Reduction of costs.

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7. The use of online recruitment channels is preferred to be increased since it increases the pool of

applicants who can be tapped irrespective of the geographical boundaries, with minimum cost and

less time.

8. Source of candidates are tracked through software and online resources.

9. Written and Aptitude tests are conducted during the process of recruitment.

10. Generally, the average time spent by the HR department during Recruitment of each candidate is

more than 30 minutes.

11. Different recruitment processes are followed for different grades of employees.

12. The back out percentage of candidates after being offered ranges between 5% to 10%.

13.Out of the total recruitment in a year, the percentage of Internal Recruitment ranges between 20% t

25%.

14. Telephones and Video conferencing are mainly used for recruitment process.

15.Time taken in the whole process i.e. from tests, personal interviews to final list of selected

candidates is about 5 to 6 hours.

16. Bajaj Allianz conducts Employment Eligibility Verification for all its employees.

This verification is done through an external vendor and the report is got in 15 days.

17. Type of verifications done include

a. Educational Qualifications


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c. Professional background check

d. Reference check


18. The percentage of scheduled candidates not turning up for the job is in the range from 5% to 10 %.

19. The methods followed to avoid NO SHOWS include :

Constant communication with the candidate

Empathetic nature more than behaving professionally

Transparency between the employer and the proposed employee

20.The challenges faced by the TA team include retaining the candidates and making them join the

organization, sourcing and documentation.

6.2 Behavior of candidates :

1. Candidates were reluctant to talk at times

2. Candidates who were contacted were not interested in insurance on many occasions

3. Candidates who were scheduled for interviews would not turn up

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4. Mostly freshers were willing to take up the job in this project (recruitment of sales managers)

5. Female candidates were reluctant to attend interview because of sales profile

6. Experienced candidates refused to attend interview as they did not find the pay package satisfactory.

CONCLUSION

Insurance is confronted with high attrition rate. Therefore, it makes recruitment a critical function in the

organization.

In order to grow and sustain in the competitive environment it is important for an organization to

continuously develop and bring out innovations in all its activities.

It is only when organization is recognized for its quality that it can build a stability with its customers .An

organization must be able to stand out in the crowd.

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The first step in this direction is to ensure competitive people come in the organization .Therefore,

recruitment in this regard becomes an important function . The organization must constantly improvise in

its recruitment process so that it is able to attract best in the industry in order to serve the best.

The search or headhunt of people should be of those whose skill fits into the companys values.

Most of the employees were satisfied but changes are required according to the changing scenario as

recruitment process has a great impact on the working of the company and as a fresh blood enters, newideas enter in the company.

Selection process is good but it should also be modified according to the requirements and the job profile s

that the main objective of selecting the candidate can be achieved.

8. RECOMMENDATIONS

RECOMMENDATIONS

Time management is very essential and it should not be ignored at any level of the process. The

delays in the hiring process should be minimized.

Though the Background verification is very essential, it is a cause of delay sometimes and it needs

to be modified so that these processes do not increase the cycle time.

Create winning impression even on those who are not selected .A candidate when invited for an

interview must be attended as soon as possible and not made to wait for hours together .Interviews

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conducted on a the scheduled time leave a good impression on the candidate. Even if the candidate

is not selected , a good impression will make him recommend the name to others. They should

carry the impression that they have missed the opportunity to work in a great company.

The candidate pool should be built and managed as a precious resource.

9. BIBILOGRAPHY

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BIBLIOGRAPHY

9.1 Books Referred:-

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9.2 Websites:

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10. ANNEXSURES

ANNEXURES

Questionnaire for Recruitment Team

PLEASE FILL FOLLOWING DETAILS:

1.Organization Name:

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2. Strength of the Organization (Less than 50, 50-100, More than 100):

3. Address of the Organization:

4. Name of the Respondent:

5. Designation of the Respondent:

6. Total number of people in HR department:

7. Total number of people involved in Recruitment and Selection:

Note Please tick the appropriate option.

1. Which recruitment channel does Bajaj Allianz use for recruitment process?

a. Employee referral

b. Campus recruitment

c. Advertising

d. Recruitment agencies

e. Job portals

f. Other, pls specify

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2. How do you come to know about vacancy in company?

3. How many stages are involved in selecting the candidate?a. 1

b. 2

c. 3

d. 4

e. More

4. Potential Candidates in the Organization are generated through which of the following

recruitment sources:

(Tick and rank them based on the number and quality of candidates generated. Also roughly specify the

percentage mix of each of the following sources adopted.)

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Sr. No. Sources Ranking Percentages

1 Direct applicants

2 Placement Consultants

3 Job portals

4 Employee referral

5 Through temporary staffing

6 Campus recruitment

7 Advertising


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5. Are you happy with your current online recruitment channel?

a.Yes

b.No

If No. Why?

6. How is the performance of Online Recruitment on over all return on investment ?

Cost Time Technology Search Response Support

Very

Good

Good

Ok

Bad

Very Bad

7. Do you think Bajaj Alliance should outsource the recruitment needs?

a. Yes

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b. No

If Yes / No. Why?

8. Would you like to increase or decrease the use of online recruitment channel?

a. Yes

b. No

If Yes / No Why?

9. Do you use any of the following tests during the process of recruitment?

a. Written

b. Aptitude

c. Group Discussion

d. Personal Interview

e. Psychometric test


10. How do you track the source of candidate?

a. Manual

b. Software

c. Online

d. Windows. Xls

11. What is the average time spent by HR dept. during recruitment (each candidate)?a. 10 to 20mins.

b. 20 to 30mins.

c. More than 30mins.

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12. Do you follow different recruitment process for different grades of employees?

a. No

b. Yes

13. What is the back out percentage of candidates after being offered?

a. 1%-5%

b. 5%-10 %

c.10%-15%

d. 15%-20 %

14. Out of total recruitment in a year, what is the percentage of internal recruitment?

a. 0% - 5%

b. 5% - 10%

c. 10% - 15%

d. 15% - 20%

e. 20% - 25%

f. More than 25%

g. Not at all

15. Do you take any technological support for the process of recruiting?

a. Telephone

b. Video conferencing

c. online support

d. Other, please specify

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16. In how much time does the whole process generate results?

(Time taken in the whole process i.e. from tests, personal interviews to final list of selected

candidates)

17. Do you do the Employment Eligibility Verification? Yes/No

If yes, then, what method you take up to perform it?

a. Internally

b. Through agencies

18. What kind of verifications you do?

a. Educational qualifications


c. Professional background check d. Reference check


19. What source has provided you with highest performers?

(Both quantity wise and quality wise)

20. Have you outsourced any of the recruitment activities? Yes/No

If yes, then pls specify which one?

21. What is the percentage of NO SHOWS? (Scheduled candidates not turning up for joining the job

a.0% - 5% b. 5% - 10%

c.10% - 15%

d. More than 15%

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e. Not at all

22. How do you plan and avoid NO SHOWS. (Scheduled candidates not turning up for joining the

job)

23. Which is the biggest challenge that you face in the whole process of recruitment?

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akash chatterjee

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