A PROJECT REPORT ON

EFFECTIVENESS OF RECRUITMENT PROCESS AND ANALYSIS OF EMPLOYESS SETTLEMENT

AT

BAJAJ ALLIANZ
SUBMITTED TO UNIVERSITY OF PUNE IN PARTIAL FULFILLMENT OF MASTER IN BUSINESS ADMINISTRATION

BY MS. PALLAVI NARENDRA PATANKAR M B A -II (2004-2006)

VISHWAKARMA MANAGEMENT

INSTITUTE PUNE .

OF

INDE X
1

Chapter No.

Chapter Name no.

Page

1 Executive summery 1 2 Introduction of subject 3 3 Introduction of Bajaj Allianz 3.1 In tr o d u ctio n o f In s u r a n ce , p r o d u cts and benefit s 3.2 National Network and Distribution Channe l 3.3 Organization grading structure 3.4 Introduction Resource Departmen t to Human

15 19

22

24 26

4 Introduction of objective of project 5 Research Methodology 32

30

Analysis and Interpretation of Data Observation & Findings Conclusion

35

7 8 66

63

9 Suggestions 68 10 11 Annexure Bibliography 71 80

ACKNOWLEDGEMENT

It would be grateful on my part to go ahead with this report expressing my gratitude to all those who have helped me in completion of my Project. I heartily thank BAJAJ ALLIANZ. For giving me an opportunity to carry out

my summer project in well organization.

esteemed and diversified

Iowe a debt of gratitude to Shri D.R. Kurane (HEAD HR) and Mrs. Sanjot Bhole (SR.Excetive) HR in head office pune. I am also thankful to the entire staff of HRD Centre, for the wonderful work environment and all those whose guidance and encouragement helped a lot in the completion of my summer project. I am also thankful to our director, Dr. Sharad Joshi and my project guide Dr. Vandana Gote and Prof. Gandhe for helping me in completing the project.

CERTIFICATE
This is to certify that Ms. Pallavi N Patankar is bonafide student of our institute. She has successfully Effectiveness of carried out her Summer Project titled

Recruitment Process and Analysis of Employees Settlement At Bajaj Allianz, Pune.

This is the original study of Ms. Pallavi N Patankar, and an important source used by her has been acknowledged in her report. The report is submitted in the partial fulfillment of two-year full time course of Master in Business Administration (2004-2006) as per rules of the Pune University.

Dr. Sharad L. Joshi Gote (Director) Guide)

Dr. Mrs. Vandana (Project

EXCECUTIVE SUMMARY
Bajaj Allianz Life Insurance Co.Ltd and Bajaj Allianz General Insurance is very well known Insurance Co in Pune & in India also with its largest insurer in the world had joined hands with famous Bajaj Auto one of the trusted nam e in automobiles and house industry in India. This project is titled as Effectiveness of Recruitment process and Analysis of Employees settlement in Baja Allianz Life Insurance & tries to find out the different aspects of Recruitment process and settlement company. analysis in

Different officials working in the HR department have provided very important data in this respect. Formal and Informal interviews as well as the research (through questionnaire) are the basic methods of data collection used in this project work. Also secondary data provided by the company officials is of immense importance. Every effort has been made to understand the long term plans of company for implementing Recruitment process and Employees settlemen t. As the Insurance Co is a service industry; the employees serving in the company are the most important elements and that is why recruitment process becomes very important in the long run. The settlement analysis also gives the company the final version of Exit process. Taking into consideration this aspect, the effectiveness of recruitment program and analysis of employ ee s settlement. recently being carried observed. out is been

From this project work; company officials will get new insights about Recruitment process and Full and Final settlement of employee s analysis. I have also acquired the knowledge of how the Recruitment process and Full and Final settlement of employees is car ried in Bajaj Allianz Life Insurance Head Office Pune.

INTRODUCTION OF SUBJECT

INTRODUCTION TO SUBJECT

Any organization whether business or otherwise requires number of resource for its effective and efficient resources and out of var ious resources used the Human Resource constitute to be most important resource. Hence the selection of the human resource meeting the objective the organization is one of the processes. important

In these processes the various term related to HRM are outlined as under: 1. Process. Recruitment

2. Full and Final settlement of the employees.

RECRUITMENT

RECRUITMEN T
The term recruitment globalization.

: is an inseparable process in the world of

Today it has been a linking activity brining together those with job and those seeking job. The recr uitment process attracts potential employees to the organization. The smooth recruitment process can be carried out by personnel department or HR head in the organization. The recruitment process starts first with planning. manpower

MANPOWER PLAN AND REQUISITION: Every position to be recruited shall be on the basis of an approved Manpower budget, which shall be sanctioned by the CEO of the company. Recruited against budgeted position will be required to be raised by the Department manager using the Manpower Requis ition Form, the manpower requisition form has to be approved by the functional head and CEO of the Company Head in consultation with HR. The requisition approved manpower

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

Definitio n: Recruitment defined by Flippo as a process of searching for prospective employees and stimulating them to apply for job in the organization . As per Yoder a process to discover the sources of manpower to meet the requirement of staffing schedule and to employ effective measure for attracting that manpower in adequate number to facilitate effective selection of an efficient working force , thus the purpose of recruitment is to locate sources of manpower to meet job specifications. requirement and job

OBJECTIVE: The objective of recruitment process helps the organization to identify whether the selected employee working capabilities are satisfying the companies targets.

FACTOR AFFECTING RECRUITMENT: 1. The size of organization 2. The employment organization is located. 3. The effect of past recruiting efforts which shows the organization ability to locate and keep good performing people. 4. The working condition, salary and benefits package offered by the organization. 5. The rate of growth of organization. 6. The level of seasonality of operation and future expansion and production programmes and the culture, economic and legal factors, etc. conditions in the community where the

10

DIFFERENCE BETWEEN RECRUITMENT AND SELECTION

Recruitment is the process of searching for prospective employees and stimulating them to apply for job in the organization. It s often term positive in that its objective is to increase the selection ratio, that is, the number of applicant per job opening. Maintains that hiring through selection. Selection is a process to eliminate applicants, leaving only the best to be placed in the organization.

SOURCES OF RECRUITMENT: When organization is needed to fill a vacant organizational position, the individual may come from inside or outside the organization. There are two source of follows: recruitment as

1. Internal sources 2. External sources. The Internal source of recruitment means promotion of worker or

employee from lower level to higher level. The recruitment process is carried within the organization. Mostly this process is used to fill vacancies of middle personnel. and top level of recruitment is used to fill vacancies at lowest level

The External source

or at the time of expansion of the organization of the firm or where job specification cannot meet by present employees. The commonly used outside sources are as follows: 1. Contact employees. through present

2. Former employees. 11

3. Intermediaries. 4. Recruitment at gate. 5. Application. 6. Advertisement. 7. School, College, University and Technical Institution. 8. Exchange. Employment Unsolicited

9. Private Agencies. 10. Professional Bodies. 11. Personnel Consultant. 12. Part employee. time

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RECRUITMENT PROCESS:

Manpower Plan

Position Description

Manpower Requisition Blank Application Preliminary Interview

Application Form

Personal Test: a) Intelligence test. b) test Aptitude

c) Personality test.

Employment Interview.

Selection

Medical Examination Appointment letter

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SELECTION PROCESS:
The selection process is essentially a series of method of securing pertinent information about the applicant. At each stage, facts may come to light and more is learned about the applicant. The information obtained can be compared with the job specification, the standard of personnel. If the applicant qualifies, he advances to the next step; otherwise he is rejected. Thus, the job specification and the job applicant are present at each step in the selection procedure. Each step constitutes the means by which the applicant s Qualification can be compared with the specification. The minim requirem ent established in the job

procedure may be compared to a series of successive hurdles or barriers which an applicant must cross. These are intended as screens, and they are designed to eliminate an unqualified applicant at any point in the process.

Definitio n: Having identified the potential applicant, the next s tep is to evaluate their experience and qualification and m ake a selection. It refers to the process of offering job to one or more applicant from the application. Great attention has to be paid to selection because it means establishing the best fit between Job requirements on the one hand, and the candidate Qualification on the other.

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INTRODUCTION TO SUBJECT

An organization is a combination of individual and groups. People in the organization work; perform with facilities necessary for its execution, that the duties performed provide the best channels for efficient, systematic, positive and co-ordinate application of available effort. But in an organization there are various problems like languages, sociopolitical, cultural background, lack of professional skill, miscommunication, and technology, no promotion, personal problems etc, which arises problem of Separatio n to employees organization. from an

SEPARATIO N:
Normally the company is interested in maintaining manpower and nourishing them. There are certain situation employee s leaves organizations due to various reasons above. as specified

The company wants to settle there dues and whatever are due to employees they should take it. The settlement of dues is known as Full and employees. Final Settlement of

15

FULL AND FINAL SETTLEMENT OF EMPLOYESS.

WHAT MEAN:

IT

The term Full and Final Settlement of employees means when an employees leaves ser vice of a particular organization and company wants to settle all there Dues and take all those monetary benefits which he has not received and some are received while leaving the organization only and the employee wants to settle that Finally. When an employee submits resignation letter, or is terminated, or has abandoned his services voluntary. The Full and Final settlement dues are calculated by HR person in the organization. The HR person finally prepares a statement of Full and Final settlement of employees. This process of calculation of amount payable and amount recoverable is called Full and Final employees. Settlement of

16

PROCESS OF FULL AND FINAL SETTLEMENT IN ALLIAN Z.

In Bajaj Allianz the Full and Final settlement of the employees who has left service there Full and Final statement is prepared by authorized executive in HR department. The Full and Final statement is prepared by Head office authorized executive in HR department only. The settlement is done as per following procedure. In Bajaj present scenario of settlement is as follows: The form of settlement i.e. Exit report is divided in 2 parts In first part Head of department / Branch head information like: Name of employee. Code, Designation, Branch, Type of exit, Notice pay to be recovered or not, last date attended, performance r ating, and hard copy of resigned letter etc. and forward to HR executive in Head Office for further action through channel. In secon d 1 st a) proper part consists of Head office clearance like: clearance whether bonus paid or recovery. fill s the form giving

BAJA J

of employee

Sales administration

b) If any other recovery. 2 nd a) Finance clearance housing loan a) Calculate EL and variable pay and ensure it is given or not. whether any amount to be recovered like travel

advance, etc.

3 rd HR clearance

b) To verify all other department has given clearance or not. c) To see Annual salary statement and verify other allowance like medical, telephone, etc are given or not.

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d) To see Annual salary statement and verify deduction has been done or not. Deduction like provident fund, professional tax, parivartan. Etc d) TO verify whether salary for last month is given or not. e) To deduct if Advance salary is given. f) Finally do the processing as per rules of Income Tax like: a) Deduction under u/s 16. b) Deduction chapterVI-A c) Tax income. on Total under

g) After the above process verified prepare a statement of Full and Final settlement with the details of employee who left the service and prepare Earning and Deduction head and calculate the dues of the left employee. h) Finally give letter of clearance and Issues cheque to the Employee. All the 55 branches of Bajaj Allianz has to submit the Exit report to HEAD office with detailed information specified as above as there is centralized process.

18

INTRODUCTION OF BAJAJ ALLIANZ

19

Bajaj Allianz Life Insurance Co.Ltd

Bajaj Allianz Life insurance Company Limited is a joint venture between AG of and Germany Bajaj Limited Auto .

Allian z

Characterized by global presence with a local focus and driven by customer Orientation to established high earning potential a financial strength, Bajaj Allianz Life Insurance Company was incorporated on 12
th

March 2001.

The company received the Insurance Regulatory and Development Authority (IRDA ) Certificate of Registration ( Life Insurance business in India. R3) NO116 on 3
rd

August 2001

to conduct

Allianz AG one of the largest insurer in the world had joined hands with Bajaj Auto one of the highly trusted name in the automobiles and household industry in India for a joint venture for their insurance operation and is one of the few Companies which is engaged in both Life and Non life Insurance Company banner Allianz Bajaj Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited. Allianz is 26:74. The Investment ratio between Bajaj and

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CORE VALUE OF BAJAJ ALLIANZ LIFE INSURANCE AND WHAT IT STANDS FOR

Core value Allianz

of

Bajaj

Understanding the customer s needs. Meeting the requirement. customer s

Ensuring optimal performance at lowest cost. Commitment excellence. to

What Bajaj Allianz Stands For

Dynamic organization. A socially enterprise. Business integrity.

and

successful valued

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VISION AND MISSION Bajaj Allianz Life Insurance Co.Ltd

Shared Vision

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

Shared Mission: 1. To be in the top 3 new Life Insurance company in India by new business and in force business by 2006.

2.

To have presence.

PAN

India

3.

To provide ensuring :

highest:

quality

service

by

o Highest customer retention in industry (90% first year) o Every customer will be contacted by us at least once per year. o We respond to customer/ agent within 48 hours o Embrace technology efficiencies. to optimize

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INTRODUCTION OF INSURANCE , PRODUCT AND BENIFITS

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3.1

INSURANCE

INTRODUCTION TO INSURANCE

Insurance is an instrument, which protect the financial loss arising out of an uncertain event contingent to human beings and is mechanism to share the financial loss of an individual or group of people due to an unforeseen event between the individual or group of people who are exposed to the same kind of risk.

PRODUCT :
Bajaj Life Insurance Company Limited offers the product as follows: 1. Gain Invest

2. Cash gain 3. Lifetime Gain 4. Care Child

5. Risk Care 6. Care Term

7. Save Care Economy Single Premium 8. Vishranti 9. Unit Gain Swarana

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BENEFITS:

1. Insurance protection to dependent, Thrift saving, tax Benefits. 2. A husband, for instance, may buy an insurance policy to ensure his wife and children are taken care of should anything happen to him. 3. Parents buy insurance for the future saving of their children education and social obligation. 4. Motor Insurance ensures the money back to CURE UR CAR .

5. Protects the financial loss of household articles by theft or natural calamities. 6. Protects the financial loss of buildings and other valuables by fire. 7. protects against medical bill for hospitalization due to unexpected diseases or acciden t 8. Accidental expenses. Insurance with hospital benefits eases with bill of medical

25

INTRODUCTION OF NATIONAL NETWORK AND DISTRIBUTION CHANNELS

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3.2

NATIONAL NETWORK

Bajaj Allianz Life Insurance Co.Ltd is a large and diversified organization. Bajaj Allianz Life Insurance Co has a national network. Bajaj Allianz has 55 branches all over India. The Head Office is located in PUNE.

DISTRIBUTION CHANNELS
The Distribution Channels of Bajaj Allianz is done all over India. The Channels is the vital process of the company. The Channels Description is as follows:

Channel
Individual Agencies Channel Individual

Description

Corporate Agency Channel Through corporates,large partnerships/private limited companies Bancassurance Banks Through

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INTRODUCTION TO ORGANISATION GRADING STRUCTURE

28

3.3

GRADING STRUCTURE

Bajaj Allianz Life Insurance Co.Ltd

The internal grading structure in the organization is done by Management & HR head. This grading system is followed by all 55 branches of Baja Allianz and Head office also. The grading system consists of following:

Description Level Department heads L5 Department heads/ sales head Managers/ functional heads L3 A B Assistant Manager supervisory role L2 A B Support staff A L1 B leadership role regional L4

heads/

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INTRODUCTION TO HIUMAN RESOURCES DEPARTMENT

30

3.4 HUMAN RESOURCE DEPARTMENT IN BAJAJ ALLIANZ. Policies:

In Multinational Company like Alliaz Bajaj HR planning and policies plays a major role in the growth of the organization. HR planning foreseen the man power requirement. The need like food, sanitation is the basic function of the HR planning. Motivation is the inseparable part of Allianz Bajaj`s HR policies, Cricket match between Allianz Bajaj recently proved the truth. The HR department should update the manual of the company. As these manual contains Govt made rules and regulation. The management can also make changes in the manual. The manual contains the rules & policies of the company. The manual is the internal document of the company. The other policies for HR department are that the company shall have Manpower planning for one-year period, based on the business plan for the year. There shall be no recruitment outside the manpower plan without prior approval of head HR and CEO.There is Joining Formalities , Internal grading structure, salary processing form alities, service condition, Additional HR policies, policies for Resignation/Termination. taken into Apart from the work the individual view is

consideration. Any problem in the organization to an of their team member personal consul ling is done & tries to satisfy their need i.e. (sociological & psychological needs). In this organization all decision are taken by Head office HR for all 55 branches. Even they take decision regarding Day to Day activity.

31

The ultimate objective of the co. is in the growth of organization. If policies are not made and implemented and proper care is not taken of human assets i.e. employees than there is no progress to the employees and organization. So policies are important as well their employees who are key per son who follows policies.

Objectives: The Human Resource objective consists of the following: 1. planning. Manpower and

2. Recruitment selection. 3. Development. 4. Appraisal.

Employee

Performance

5. Develop belongingness for work. 6. Excellence performance award every month. 7. To build organization with integration, honesty & Quality of work. 8. Planning development. future goals for career

9. Teamwork & cooperation with people in the organization. 10. To provide security for work. 11. Promotion.

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STRUCTURE OF HUMAN RESOURCE DEPARTMENT

HeadHR L4 B National Mgr.Corporate Hfgkfg Asst. Mgr- HR L2B Jr.Exce-HR L1B Dy. Mgr Hr L2B

Jr Exce-Hr L1B

Sr.Exce-HR L1A

Sr.Exce-HR L1A

Mgt.Trainee

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INTRODUCTION OF OBJETIVE OF PROJECT

34

OBJECTIVES OF THE PROJECT

Every project report is carried out with some specific OBJECTIVE in the mind. Objective is basically the purpose behind conducting a project and unless the objective is certain or specifically defined it is not understood what data has to be collected. Objectives of the pr oject are nothing but what is to be learned out of this project report. Specific objectives of this Project Report To understand: 1. Understand various HR tools used in handling Recruitment? 2 To have exposure to recruitment process? 3 To have exposure to employees dues settlement process? 4 Whether the recruitment process and settlement process are satisfactory? 5 To understand how effective the computer system or new technology is in the recruitment process? system& settlement

So in this project report I have made every effort to understand the above specified objectives keeping in mind the present scenario of the Recruitment and Full and Final Settlement of employee s process and collect data.

35

Research Methodology

36

Research Methodology.

Research Methodology is a systematic method of discovering new facts or verifying old facts, their sequenc e, inter-relationship, casual explanation and the natural them. laws which governs

Research Methodology explained by Redman and Mory are as follows systematized knowledge effort to gain new

Research Methodology is original contribution to the existing stock of knowledge making for its advancement. It is the purist of truth with the help of study. Observation, comparison and experiment. In short also covers the systematic method of finding solution to a problem is research. It also covers the systematic approach concerning generalization and the formulation of the theory. Different stages involved formulating a in research consists of enacting the problem,

hypothesis, collecting the facts or data, analyzing the facts and reaching certain conclusion either in the form of solution towards the concerned problem or in generalization formulation. for some theoretical

In Research Methodology mainly Data plays an important role. The Data is divided in two parts: a) Primary Data. b) Secondary Data. Primary Data is the data, which is collected directly by direct personal interview,

interview, indirect oral investigation, Information received through local agents, drafting a schedule, questionnaire. drafting a

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Secondary Data

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

magazine and material, reports, etc. The data which is stored in the organization and provide by the HR people are also information secondary data. The various

is taken out regarding that subject as well other subject from various sources and stored. The last years data stored can also be secondary data. This data is kept for the internal use of the organization. The HR manual is for the internal use of the organization they are secondary data which help people to gain information. In this report the data plays a very crucial role. For this report the data was provided to me by HR department and other departm ental head in the organization. The Primary and Secondar y data which is specified above was provided by: Manager HR-

a) Assistant Recruitment

b) Junior Executive HR- Full and Final. c) Other department head. Due to discussion with these people lot data as well latest information was known by these people which was very beneficial and was primary data to me. The questionnaires the primary data was the main key which help to analysis data.

This is the Research Methodology used in the project. The primary and secondary data method has been used in this project. Unless the data is collected no project can be complete. So both these data is very important in the project.

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ANALYSIS DATA

AND INTERPRETATION OF

39

ANALYSIS AND INTERPRETATION OF DATA

Since Recruitment and Full and Final system is important activity in any organization. The emphasis was lead employees on findings of views of various

about the Recruitment process and Full and Final settlement followed in Bajaj Allianz. Because in origination there are written and unwritten process related to Recruitment and Full and Final Settlement of Employees on which employees view are important as a good policy of HRM. Accordingly, the survey which was carried out was an eye opener and details analyses of my survey are explained in forth coming Para. A Research was conducted in Head office Pune of various departments including HR department. Sample sizes of 10 people were taken for effectiveness of Recruitment. Sample sizes of 10 people were taken for Full and Final Settlement

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

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ANALYSIS AND INTERPRETATION OF DATA

Effectiveness Recruitment. Q.1. Are you satisfied with Recruitment system in Bajaj Allianz? a) Not at all Good e) Excellent. b) satisfied c) Totally Satisfied d) Totally of

Options Total

Response 3 3 4 10 % 30 30 40 100

50 40 30 20 10 0 a b c d e Response Response Percentage

Interpretatio n: From the above response it is seen that most of the employ ees are overall satisfied by the recruitment system in the company. They have clarity of the process.

41

Q.2. Whether documented? a) Yes No Option Total a

the b) b

Recruitment

process

is

Response 6 4 10 % 60 40 100

70 60 50 40 30 20 10 0 ab response response %

Interpretatio n: From the above response it is seen that majority of the employees feel that Recruitment process is documented in the company. However they can access when ever they want. 40% of the people don t have knowledge about it.

42

Q.3. Whether the Recruitment process is documented if YES than the substances level of its knowledge to others is: a) Clear Vague. b)

Option Total

Response 4 2 6 % 66 33 100

70 60 50 40 30 20 10 0 ab response response %

Interpretatio n: From the above response it is seen that 66% employees are having only clear and under stable knowledge of the documented process recruitment. The other employees are finding it vague. of the

43

Q.4. Whether the Recruitment system is transparent at all level? a) Not at all extent. b) To some extent c) To great

Option Total

Response 2 6 2 10 % 20 60 20 100

70 60 50 40 30 20 10 0 abc response response %

Interpretatio n: From the above response it is seen that employees of the company has some doubts about the transparency of the Recruitment system. The company should investigate further.

44

Q.5. Is the Recruitment process uniform at all level? a) Yes department. b) No c) varies as per

Option Total

Response 3 7 10 % 30 70 100

80 70 60 50 40 30 20 10 0 abc Response Response Percentage

Interpretatio n: From the above responses it is seen that recruitment process varies many of the times from department to department so it helps the department heads to select the right person for the job as per his requirement and needs.

45

Q.6. Whether the other department head is constitutes in the interview of the recruitment process? a) Totally linked at all. b) partially linked c) Not

Options Total

Response 3 4 3 10 % 30 40 30 100

50 40 30 20 10 0 abc response respons e %

Interpretatio n: From the above responses it is seen that only few department head s are considered during the interview process and majority of the time they are partially linked i.e. they only have to set paper and decided the package.

46

Q.7. Whether the response of HR department or person on vacancy is? a) Not slow Excellent. b) slow c) Quick d) Very responsive e)

Options Total

Response 3 5 2 10 % 30 50 20 100

60 50 40 30 20 10 0 a b c d e Response Response Percentage

Interpretatio n: From the above response it is seen that more than 50% the employee fells that the response is quick. But in few cases it is slow.

47

Q.8. Whether the written test design gives real advantage or satisfaction? a) Not at all good e) Excellent. b) satisfaction c) Total Satisfaction d) Totally

Option Total

Response 8 2 10 % 80 20 100

100 80 60 40 20 0 a b c d e Response Response Percentage

Interpretatio n: From the above response it is seen that majority of the employees find the written test are not at all beneficial or advantage as it is time consuming. Only few agree to the test design.

48

Q.9. Whether the duration of the written is? a) Too short b) Not long c) Long d) Too long.

Options Total

Response 1 4 5 10 % 10 40 50 100

60 50 40 30 20 10 0 a b c d

Response Response Percentage

Interpretatio n: From the above response it is seen that many times the duration of the test is long and the employees find it time consuming. The instant like Insurance test for junior and new entry finds it long and time consuming.

49

Q.10. How is the test evaluation of the recruitment process? a) Fair justified. b) Justified c) Not

Option Total

Response 2 8 10 % 20 80 100

100 80 60 40 20 0 abc Re sponse Response Percentage

Interpretatio n: From the above response it is seen that the test evaluation is not done properly. There is bias is opinion while evaluating the paper.

50

Q.11. what is the criteria of selection in Bajaj Allianz of the requirement process if Knowledge percentage. a) 20-30% considered b) 31-50% rate c) 51-70% in d) 71-80% e) 81-100%

Options Total

Response 2 5 3 10 % 20 50 30 100

60 50 40 30 20 10 0 a b c d e

Response Response Percentage

Interpretatio n: From the above response it is seen that 51-71% weight is given on knowledge. If the criteria selection. is only knowledge for

51

Q.12. what is the criteria of selection in Bajaj Allianz of the requirement process if Knowledge percentage. a) 20-30% + Experience considered rated in e) 81-100%

b) 31-50%

c) 51-70%

d) 71-80%

Option Total

Response 7 3 10 % 70 30 100

80 70 60 50 40 30 20 10 0 a b c d e

Response Res ponse Perc entage

Interpretatio n: From the above response it is seen that if Knowledge + Experience considered. Than majority of the employee gives weight on 7180%.

52

Q.13. what is the criteria of selection in Bajaj Allianz of the requirement process if Experience percentage. a) 20-30% considered b) 31-50% rated c) 51-70% in d) 71-80% e) 81-100%

Options Total

Response 3 6 1 10 % 30 60 10 100

70 60 50 40 30 20 10 0 a b c d e Response Response P erc entage

Interpretatio n: From the above response it is seen that if Experience considered. Than majority of the people have rated in between 70% as experience is relevant criteria and other 30% case experience is not given importance i.e. experience is major criteria.

53

Q.14. Whether the middle level i.e. executive is aware of the recruitment Process? a) Not at all known b) To some extent c) Thoroughly

Options Total

Response 4 3 3 10 % 40 30 30 100

50 40 30 20 10 0 abc response response %

Interpretatio n: From the above response it is seen that information of standard Recruitment process is not communicated to middle level executive.

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Q.15. The major Man power source in Bajaj Allianz of recruitment process is? a) Newspaper Firm or b) Internal recruitment c) Campus interview d)

Agencies on contract basis.

Option Total

b c d

Response 1 3 2 4 10 % 10 30 20 40 100

50 40 30 20 10 0 a b c d

Re sponse respons e %

Interpretatio n: From the above response it is seen that majority of the employees are employed from the agencies and later from the internal process. The least preference is given to newspaper. the campus and

55

Q.16. Which is the most powerful method of the interviewing the candidate and selecting the candidate in Bajaj Allianz? a) Telephonic Interview interview. b) Personal interview c) Video conference

Options Total

Response 3 4 3 10 % 30 40 30 100

50 40 30 20 10 0 abc Response response %

Interpretatio n: From the above response it is seen that the most powerful method of selection is personal interview and than telephonic interview and video conference interview beneficial in case of long distance.

56

Q.17. Whether the selection in Bajaj Allianz is done on the basis of the merit? a) Yes say b) No c) Can t

Options Total

Response 6 1 3 10 % 60 10 30 100

70 60 50 40 30 20 10 0 abc Response response %

Interpretatio n: From the above response it is clear that majority of the selection are based on merit.

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ANALYSIS & INTERPRETATION OF DATA

Full and Settlement Final

Q.1. How is Full and Final Settlement System in Bajaj Allianz? a) Poor b) Average c) Satisfactory d) Good e) Excellent

Options Total

Response 2 6 2 10 % 20 60 20 100

70 60 50 40 30 20 10 0 a b c d e

Re sponse Response Percentage

Interpretatio n: From the above response it is seen that many left employees are satisfactory about the Full and Final system in Bajaj Allianz. Few people it average and good.

58

Q.2. The content of Full and Final settlement is uniform at all level? a) Yes company. b) No c) Various as per Grades or Position in the

Option Total

Response 7 3 10 % 70 30 100

80 70 60 50 40 30 20 10 0 abc Re sponse Response Percentage

Interpretatio n: From the above response it is seen that Full and Final system content is uniform most of the time. But in some cases it differs due to higher grades in the company.

59

Q.3. The duration taken for the Full and Final Clarence system is? a) 1-2 days days b) 3-5 days c) 5-7 days d) 7-15

e) More than 15 days.

Options Total

Response 4 2 4 10 % 40 20 40 100

50 40 30 20 10 0 a b c d e

Response Response P ercentage

Interpretatio n: From the above response it is seen that Full and Final process takes time to complete the settlement. Many times it takes 3-5 and 7-15 days to complete it.

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Q.4. The process of the Full and Final settlement is? a) Small process process. b) Lengthy process c) Time consuming

Options Total

Response 3 5 2 10 % 30 50 20 100

60 50 40 30 20 10 0 abc Response response %

Interpretatio n: From the above response it is seen that many left employee find process lengthy i.e. 50%. The rest of the employee fined it time consuming and 30% find it small process.

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Q.5. How is the dispatch system of document from all over India branches to Head office of HR department for the process and calculation of the Full and Final are? a) Poor settlement b) Average c) Satisfactory d) Good e) Excellent

Options Total

Response 5 3 2 10 % 50 30 20 100

60 50 40 30 20 10 0 a b c d e

Response Response Percentage

Interpretatio n: From the above response it is seen that dispatched of the documents to head office is average. Most of the employees are not satisfied with the dispatched system satisfied. is not

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Q.6. The data provided to Head office HR department from other Branches are always correct for Full and Final process? a) Yes No b)

Option Total

Response 6 4 10 % 60 40 100

70 60 50 40 30 20 10 0 ab Response response %

Interpretatio n: From the above response it is seen that many times the data provide to HR department are write. Only in certain cases it is incorrect due to technical problem and due to clerical work.

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Q.7. How is the process of giving clearance by sales admin and finance department after documents reaching and verified by HR department? a) Small process process. b) Lengthy process c) Time consuming

Option Total

Response 3 7 10 % 30 70 100

80 70 60 50 40 30 20 10 0 abc Response Response Percentage

Interpretatio n: From the above response it is seen that most of the time the left employees find the process time consuming. Though some find it lengthy.

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Q.8. The calculations and amount of the Full and Final settlement in Bajaj Allianz done by HR of head office after getting clearance from 2 department are? a) Always right right. b) Sometimes perfect c) Not at all

Option Total

Response 8 2 10 % 80 20 100

100 80 60 40 20 0 abc Response Respons e Percentage

Interpretatio n: From the above response it is seen that the calculation of the Full and Final settlement is always right. The left employees are satisfied about the calculation and the amount received to them.

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Q.9. After the Clearance is over the Cheque issued in the name of the left employees are received in how many days? a) 1-2 days days b) 3-5 days c) 5-7 days d) 7-15

Option Total

Response 3 5 2 10 % 30 50 20 100

60 50 40 30 20 10 0 a b c d

Response Response Percentage

Interpretatio n: From the above response it is seen that it takes maximum 3-5 days for a cheque to reach a Left employee place. The some employees are satisfied about cheque process receiving and some employees are not satisfied.

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OBSERVATIONS AND FINDINGS

67

OBSERVATION AND FINDINGS

Bajaj Allianz Life Insurance Co.Ltd and Bajaj Allianz General Insurance is leading Company in the marker today. The HR department is having very strong base and while doing project in the company the observation and findings found by me are as follows. 1) The company has clarity of the recruitment process and they are doing well and candidates. recruiting correct

2) The recruitment process is centralized in the company. 3) The test duration for the senior level officer and fresher is too long. Though is consuming. beneficial but time

4) The tests provided are online test and the evaluation of the test is also done by the Head office HR. 5) The evaluation takes time as they take print out of test paper and gives marks. 6) The department head are not considered most of the time during the interview. The role of the head was to inform about vacancy to HR. 7) Most of the time the criteria of selection are on the basis of the Knowledge + Experience. This is good for the company. 8) The company provides a good basis for the FRESHER. Which is a positive side for the both the concern. 9) The middle level employees of the Head office and the other branches are not aware process. of the recruitment

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

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11) The company concentrates more on recuirtment firm for the need of man power. 12) The video camera is used for the interview as the time is less for interviewing the person. 13) Sometimes candidate selection is not as per the profile for the junior level staff. E.g. A HR executive is given assistance who is doing CA or B.com But not students. MBA or MPM

14) The other branches have to give 15 days notice for the place vacancy. 15) The candidate selected for the job from all over India are not given training at there work place but at Head office and bare their expense. 16) The selection of the candidate in Bajaj Allianz is done up to the mark. There is no bias s view for other. 17) The Full and Final settlement of employee s process is centralized in the Bajaj Allianz. 18) The company is having only single authorized executive HR person to do the Full and Final settlement employee s process since 3yrs for the 55 branches. 19) The employees other India. branches left in documents are to be send to the Head office from the

20) The data provided by other branches in the form papers are slow in speed. 21) The sales department and finance department their clearances process is also slow.

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CONCLUSION

70

CONCLUSION

The overall Recruitment process in Bajaj Aliianz is satisfactory. There are certain organization objectives both in short term and long term should be taken into

consideration as a basic parameter for recruitment decision and need of the personnel area which will be beneficial to everyone in organization. There are minor modifications in the areas like doc umentation of recruitment process, other department head participation in interview, written test, evaluation of return test and use of latest equipment for interview etc to be made for which suggestions are given in the following paragraphs. As a matter of good HR practices leaving of employees should be prevented. But the company should carry out exit interview and take correct action to retain the employees in the organization organization. Once the employees leaves the

process of Full and Final Settlement of employees should be completed quickly. The company should make the process of em ployee s settlement fast as the documents reach the sales department and finance department.

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SUGGESTIONS

72

SUGGESTIONS
RECRUITMENT PROCESS SYSTEM

1) The recruitment process in Bajaj Allianz should be decentralized as per the 4 region. The branch manager and HR person of that region should have rights to carry out the recruitment process and must inform the head office and should approval. get it

2) The middle level employees should have knowledge of the recruitment process and the non HR employees should be given a HR manual. 3) The other department head should be involved in the interview process as he knows right person for the job of his department. 4) The selected candidates should bee given training at their work place by the the trainer department. of the

5) The test duration should be kept short for the senior level employees so that more time is not taken and they can concentrate on the work. 6) The company should develop or provide software which should provide a test score as the test is over. So the time is saved in evaluation. 7) The company should concentrate on the personal interview as video conference interview cost more money and the candidate is more nervous. SUGGESTION : FULL AND FINAL SETTLEMENT 8) In Baja Allianz there is only single authorized HR executive in HR department for doing Full and Final settlement of employees and the company should provide assistance so the work is completed fast. OR

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9) The Full and Final settlement should be decentralized as per the 4 region and process should be completed by region authorized HR person and Cheque should be singed by Head office HR. 10) The Full and Final system is done by head office HR person and documents provided to Head office is slow in speed so the speed post service or courier service should be changed or tell them to provide better service. 11) The sales administration and Finance department of head office must Increase the assistance on speed of the clearances by providing them

contract basis. So the speed will increase calculation fast and process can be short and not too long.

and HR person can do

12) The branch manager should provide correct information of the left employees so that calculation can be done perfectly and HR person should not be always asking the information. branch manager for correct

13) To avoid the incorrect infor mation by branc h manager the company should have proper MIS system. So that when time needed both the person can access it. Proper Software should be develop and training must be given to them use. regarding it

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ANNEXURE

75

ANNEXURE 1
The Questionnaire of Recruitment Processes System

NAME: DEPARTMENT CODE EMPLOYEE CODE: EMPLOYEE GRADE: :

Q.1. Are you satisfied with Recruitment system in Bajaj Allianz? a) Not at all Good e) Excellent. a) b) c) d) e) b) satisfied c) Totally Satisfied d) Totally

Q.2. Whether documented? a) Yes No a)

the b)

Recruitment

process

is

b)

Q.3. Whether the Recruitment process is documented if YES than the substances level of its knowledge to others is: a) Clear Vague. a) b) b)

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Q.4. Whether the Recruitment system is transparent at all level? a) Not at all extent. a) b) To some extent b) c) c) To great

Q.5. Is the Recruitment process uniform at all level? a) Yes department. a) b) b) No c) varies as per c)

Q.6. Whether the department head is constitutes in the interview of the recruitment process? a) Totally linked at all. a) b) b) partially linked c) c) Not

Q.7. Whether the response of HR department or person on vacancy is? a) Not slow Excellent a) b) b) slow c) Quick c) d) Very responsive d) d) e)

Q.8. Whether the written test design gives real advantage or satisfaction? a) Not at all good e) Excellent. a) b) c) d) e) b) satisfaction c) Total Satisfaction d) Totally

Q.9. Whether the duration of the written is? a) Too short a) b) c) 77 b) Not long c) Long d) Too long. d)

Q.10. How is the test evaluation of the recruitment process? a) Fair justified. a) b) b) Justified c) c) Not

Q.11. what is the criteria of selection in Bajaj Allianz of the requirement process if Knowledge percentage. a) 20-30% a) considered b) 31-50% b) rate c) 51-70% c) in d) 71-80% e) 81-100% d) e)

Q.12. what is the criteria of selection in Bajaj Allianz of the requirement process if Knowledge percentage. a) 20-30% a) + Experience considered rated in e) 81-100% d) e)

b) 31-50% b)

c) 51-70% c)

d) 71-80%

Q.13. what is the criteria of selection in Bajaj Allianz of the requirement process if Experience percentage. a) 20-30% a) considered b) 31-50% b) rated c) 51-70% c) in d) 71-80% e) 81-100% d) e)

Q.14. Whether the middle level i.e. executive are well know of the recruitment Process? a) Not at all known a) b) To some extent b) c) Thoroughly c)

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Q.15. The major Man power source in Bajaj Allianz of recruitment process is? a) Newspaper Firm or b) Internal recruitment c) Campus interview d)

Agencies on contract basis. a) b) c) d)

Q.16. Which is the most powerful method of the interviewing the candidate and selecting the candidate in Bajaj Allianz? a) Telephonic Interview interview. a) b) b) Personal interview c) c) Video conference

Q.17. Whether the selection in Bajaj Allianz is done on the basis of the merit? a) Yes say a) b) b) No c) Can t c)

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ANNEXURE 2

The Questionnaire Full and Final System

NAME: DEPARTMENT CODE EMPLOYEE CODE: EMPLOYEE GRADE: :

Q.1. How is Full and Final Settlement System in Bajaj Allianz? a) Poor a) b) Average b) c) Satisfactory c) d) Good e) Excellent d) e)

Q.2. The content of Full and Final settlement is uniform at all level? a) Yes company a) b) No b) c) Various as per Grades or Position in the c)

Q.3. The duration taken for the Full and Final Clarence system is? a) 1-2 days days b) 3-5 days c) 5-7 days d) 7-15

e) More than 15 days. a) b) c) d) 80 e)

Q.4. The process of the Full and Final settlement is? a) Small process process. a) b) b) Lengthy process c) c) Time consuming

Q.5. How is the dispatch system of document from all over India branches to Head office of HR department for the process and calculation of the Full and Final are? a) Poor a) settlement b) Average b) c) Satisfactory c) d) Good e) Excellent d) e)

Q.6. The data provided to Head office HR department from other Branches are always correct for Full and Final process? a) Yes No a) b) b)

Q.7. How is the process of giving clearance by sales admin and finance department after documents reaching and verified by HR department? a) Small process process a) b) b) Lengthy process c) Time consuming c)

Q.8. The calculations and amount of the Full and Final settlement in Bajaj Allianz done by HR of head office after getting clearance from 2 department are? a) Always right right. a) b) b) Sometimes perfect c) c) Not at all

81

Q.9. After the Clearance is over the DD issued in the name of the left employees are received in how many days? a) 1-2 days days b) 3-5 days c) 5-7 days d) 7-15

a)

b) c)

d)

82

ANNEXURE 3

83

BIBLIOGRAPHY

84

BIBLIOGRAPH Y
Books
Human Management Anjali Ghanekar Resource

Manua l
HRD Manual Allianz. of Bajaj

Website s
www.google.com www.bajaj allianz. com

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