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Recruitment and selection of Insurance Companies

PREFACE

People are a company’s most important assets. They can make or break the fortunes of a
business. In today’s highly competitive business environment placing the right people in the right
position is very critical for the success of any organization.

The recruitment and selection decision is of prime importance as it is the vehicle for obtaining the
best possible person-to-job fit that will, contribute significantly towards the Company's
effectiveness. It is also becoming increasingly important, as the Company evolves and changes,
that new recruits show a willingness to learn, adaptability and ability to work as part of a team.
The Recruitment & Selection procedure ensures that these criteria are addressed

In this project report I have studied Recruitment and Selection process of ICICI Prudential Life
Insurance and attempted to provide some ways so as to make recruitment more effective and to
reduce the cost of hiring an employee.

I am privileged to be one of the students who got an opportunity to do my training with ICICI
Prudential Life Insurance. My involvement in the project has been very challenging and has
provided me a platform to leverage my potential in the most constructive way.

ICICI Prudential Life insurance is one of India's leading financial institutions offering complete
financial solutions that encompass every sphere of life. In a short span of time,ICICI has set an
example by having a steady and confident journey to growth and success.

During the training period I have studied of Recruitment & Selection Process in ICICI Prudential
Life insurance Company and did a SWOT analysis of ICICI Prudential Life Insurance to find out
the existing shortcomings and potential threats and thereby recommended suggestions.

This project however is an attempt to share as best as possible my experience in corporate world
with all my colleagues and my faculty.

I would be delighted to receive reader’s comments which maybe valuable lessons for my future
projects.

EXECUTIVE SUMMARY

In today’s rapidly changing business environment, organizations have to respond quickly to

requirements for people. The Financial market has been witnessing growth which is manifold for
last few years. Many private players have entered the economy thereby increasing the level of
competition. In the competitive scenario it has become a challenge for each company to adopt
practices that would help the organization stand out in the market. The competitiveness of a
company of an organization is measured through the quality of products and services offered to
customers that are unique from others. Thus the best services offered to the consumers are
result of the genius brains working behind them. Human Resource in this regard has become an
important function in any organization. All practices of marketing and finances can be easily
emulated but the capability, the skills and talent of a person cannot be emulated. Hence, it is
important to have a well-defined recruitment policy in place, which can be executed effectively to
get the best fits for the vacant positions. Selecting the wrong candidate or rejecting the right
candidate could turn out to be costly mistakes for the organization. Therefore a recruitment
practice in an organization must be effective and efficient in attracting the best manpower.

Coverage –The extent and limitation

With largest number of life insurance policies in force in the world, insurance happens to be a
mega opportunity in India. Its business is growing at 15-20% annually and presently is of the
order of Rs. 450m. Together with banking sector it adds about 7% to the GDP.

Like in the case of BPO’s, Insurance sector too faces the problem of attrition. Thus, recruitment is
an ongoing process carried through out the year. The project is based on the study of recruitment
process. The various recommendations suggested have been the result of the study. The idea is
to generate ways of dealing with high attrition and making hiring process manageable and
efficient.

Data Used

There were mainly two sources of data collection

Ø Primary data:

Ø Survey method

Ø Personal interview with candidates

Ø In depth conversation with the placement agency

v Secondary data:

Ø Study of recruitment policy

Ø Websites

Ø Published articles
Research methodology used

v Study of recruitment and selection at ICICI Prudential Life Insurance by the manual provided
by the HR department;

v Web sites

v Journals

v Magazines

v Books

Findings

v Recruitment is done throughout the year more during the months of May-June and Oct-Nov;

v Huge investment of time;

v Huge recruitment cost;

To pursue these, I would be going through the recruitment policies of the company. By active
participation in the recruitment process, the areas where improvement can be bought about can
be identified.

Thus the whole research would be done under the guidance of external guide. It will also involve
recruitment and selection processes, reading the material provide internally by the organization,
information from the new employees.

Introduction

1.1 Introduction Of The Insurance Industry

Overview

The story of insurance is probably as old as the story of mankind. The same instinct that prompts
modern businessmen today to secure themselves against loss and disaster existed in primitive
men also. They too sought to avert the evil consequences of fire and flood and loss of life and
were willing to make some sort of sacrifice in order to achieve security. Though the concept of
insurance is largely a development of the recent past, particularly after the industrial era – past
few centuries – yet its beginnings date back almost 6000 years.

The first two decades of the twentieth century saw lot of growth in insurance business. From 44
companies with total business-in-force as Rs.22.44 crore, it rose to 176 companies with total
business-in-force as Rs.298 crore in 1938. The Insurance Act 1938 was the first legislation
governing not only life insurance but also non-life insurance to provide strict state control over
insurance business.

Some of the important milestones in the life insurance business in India are:

1818: Oriental Life Insurance Company, the first life insurance company on Indian soil started
functioning.

1870: Bombay Mutual Life Assurance Society, the first Indian life insurance company started its
business.

1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life
insurance business.

1928: The Indian Insurance Companies Act enacted to enable the government to collect
statistical information about both life and non-life insurance businesses.

1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of
protecting the interests of the insuring public.

1956: 245 Indian and foreign insurers and provident societies are taken over by the central
government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a
capital contribution of Rs. 5 crore from the Government of India.

The General insurance business in India, on the other hand, can trace its roots to the Triton
Insurance Company Ltd., the first general insurance company established in the year 1850 in
Calcutta by the British.

Some of the important milestones in the general insurance business in India are:

1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of
general insurance business.

1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of
conduct for ensuring fair conduct and sound business practices.

1968: The Insurance Act amended to regulate investments and set minimum solvency margins
and the Tariff Advisory Committee set up.

1972: The General Insurance Business (Nationalisation) Act, 1972 nationalised the

general insurance business in India with effect from 1st January 1973.

With largest number of life insurance policies in force in the world, Insurance happens to be a
mega opportunity in India. It’s a business growing at the rate of 15-20 per cent annually and
presently is of the order of Rs 450 billion. Together with banking services, it adds about 7 per cent
to the country’s GDP. Gross premium collection is nearly 2 per cent of GDP and funds available
with LIC for investments are 8 per cent of GDP.

Yet, nearly 80 per cent of Indian population is without life insurance cover while health insurance
and non-life insurance continues to be below international standards. And this part of the
population is also subject to weak social security and pension systems with hardly any old age
income security. This itself is an indicator that growth potential for the insurance sector is
immense.

A well-developed and evolved insurance sector is needed for economic development as it

provides long term funds for infrastructure development and at the same time strengthens the risk
taking ability. It is estimated that over the next ten years India would require investments of the
order of one trillion US dollar. The Insurance sector, to some extent, can enable investments in
infrastructure development to sustain economic growth of the country.

India has come a full circle from being an open competitive market to nationalization and back to
a liberalized market again. Tracing the developments in the Indian insurance sector reveals the
360 degree turn witnessed over a period of almost two centuries.
Present Scenario

The Government of India liberalized the insurance sector in March 2000 with the passage of the
Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry restrictions for
private players and allowing foreign players to enter the market with some limits on direct foreign
ownership.

The opening up of the sector is likely to lead to greater spread and deepening of insurance in
India and this may also include restructuring and revitalizing of the public sector companies. In
the private sector 14 life insurance and 8 general insurance companies have been registered. A
host of private Insurance companies operating in both life and non-life segments have started
selling their insurance policies..

Life Insurance Market

The Life Insurance market in India is an underdeveloped market that was only tapped by the state
owned LIC till the entry of private insurers. The penetration of life insurance products was 19
percent of the total 400 million of the insurable population. The state owned LIC sold insurance as
a tax instrument, not as a product giving protection. Most customers were under- insured with no
flexibility or transparency in the products. With the entry of the private insurers the rules of the
game have changed.

The 12 private insurers in the life insurance market have already grabbed nearly 9 percent of the
market in terms of premium income. The new business premiums of the 12 private players has
tripled to Rs 1000 crore in 2002- 03 over last year. Innovative products, smart marketing and
aggressive distribution. That's the triple whammy combination that has enabled fledgling private
insurance companies to sign up Indian customers faster than anyone ever expected. Indians,
who have always seen life insurance as a tax saving device, are now suddenly turning to the
private sector and snapping up the new innovative products on offer.

The private insurers also seem to be scoring big in other ways- they are persuading people to
take out bigger policies. Buoyed by their quicker than expected success, nearly all private
insurers are fast- forwarding the second phase of their expansion plans.

Major Insurance Players

Licenses have been issued for the following companies

Ø ICICI Prudential Life Insurance Limited

Ø ICICI Prudential Life Insurance Company Limited

Ø HDFC Standard Life Insurance Company Limited

Ø Birla Sun Life Insurance Company Limited

Ø TATA AIG Life Insurance Company Limited

Ø Max New York Life Insurance Company Limited

Ø SBI – Cardiff Life Insurance Company Limited

Ø ING Vysya Life Insurance Company Limited

Ø Bajaj Allianz Life Insurance Company Limited

Ø MetLife Life Insurance Company Limited

Ø Aviva Life Insurance Company Limited

Ø AMP Sanmar Life Insurance Company Limited

Ø Sahara India Life Insurance Limited

Ø Sri Ram Life Insurance Limited

Protection of the interests of policyholders:

IRDA has the responsibility of protecting the interest of insurance policyholders. Towards
achieving this objective, the Authority has taken the following steps:

v IRDA has notified Protection of Policyholders Interest Regulations 2001 to provide for: policy
proposal documents in easily understandable language; claims procedure in both life and non-
life; setting up of grievance redressal machinery; speedy settlement of claims; and policyholders'
servicing. The Regulation also provides for payment of interest by insurers for the delay in
settlement of claim.

v The insurers are required to maintain solvency margins so that they are in a position to meet
their obligations towards policyholders with regard to payment of claims.

v It is obligatory on the part of the insurance companies to disclose clearly the benefits, terms
and conditions under the policy. The advertisements issued by the insurers should not mislead
the insuring public.

v All insurers are required to set up proper grievance redress machinery in their head office
and at their other offices.

The Authority takes up with the insurers any complaint received from the policyholders in
connection with services provided by them under the insurance contract.

1.2 COMPANY PROFILE

ICICI Prudential Life Insurance

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier
financial powerhouse and Prudential plc, a leading international financial services group
headquartered in the United Kingdom.

ICICI was established in 1955 to lend money for industrial development. Today, it has diversified
into retail banking and is the largest private bank in the country. Prudential plc was established in
1848 and is presently the largest life insurance company in UK.

ICICI Prudential is currently the No. 1 private life insurer in the country. For the financial year
ended March 31, 2005, the company garnered Rs 1584 crore of new business premium for a total
sum assured of Rs 13,780 crore and wrote nearly 615,000 policies.

The Company recognizes that the driving force for gaining sustainable competitive advantage in
this business is superior customer experience and investment behind the brand. The Company
aims to achieve this by striving to provide world class service levels through constant innovation
in products, distribution channels and technology based delivery. The Company has already
taken significant steps to achieve this goal.

India's Number One private life insurer, ICICI Prudential Life Insurance Company is a joint
venture between ICICI Bank-one of India's foremost financial services companies-and Prudential
plc- a leading international financial services group headquartered in the United Kingdom. Total
capital infusion stands at Rs. 23.72 billion, with ICICI Bank holding a stake of 74% and Prudential
plc holding 26%.

ICICI Prudential was the first life insurer in India to receive a National Insurer Financial Strength
rating of AAA (Ind) from Fitch ratings. For three years in a row, ICICI Prudential has been voted
as India's Most Trusted Private Life Insurer, by The Economic Times - AC Nielsen ORG Marg
survey of 'Most Trusted Brands'. As we grow our distribution, product range and customer base,
we continue to tirelessly uphold our commitment to deliver world-class financial solutions to
customers all over India.

FACT SHEET

THE COMPANY

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier
financial powerhouse, and Prudential plc, a leading international financial services group
headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector
insurance companies to begin operations in December 2000 after receiving approval from
Insurance Regulatory Development Authority (IRDA).

ICICI Prudential's capital stands at Rs. 23.72 billion with ICICI Bank and Prudential plc holding
74% and 26% stake respectively. For the first quarter ended June 30, 2007, the company
garnered Rs. 987 crore of weighted retail + group new business premiums and wrote over
450,000 retail policies in the period. The company has assets held to the tune of over Rs. 18,400
crore.

ICICI Prudential is also the only private life insurer in India to receive a National Insurer Financial
Strength rating of AAA (Ind) from Fitch ratings. The AAA (Ind) rating is the highest rating, and is a
clear assurance of ICICI Prudential's ability to meet its obligations to customers at the time of
maturity or claims.

For the past six years, ICICI Prudential has retained its position as the No. 1 private life insurer in
the country, with a wide range of flexible products that meet the needs of the Indian customer at
every step in life.

Distribution

ICICI Prudential has one of the largest distribution networks amongst private life insurers in India.
It has a strong presence across India with over 680 branches and over 235,000 advisors.

The company has over 23 bancassurnace partners, having tie-ups with ICICI Bank, Federal
Bank, South Indian Bank, Bank of India, Lord Krishna Bank, Idukki District Co-operative Bank,
Jalgaon Peoples Co-operative Bank, Shamrao Vithal Co-op Bank, Ernakulam Bank, 9 Bank of
India sponsored Regional Rural Banks (RRBs), Sangli Urban Co-operative Bank, Baramati Co-
operative Bank, Ballia Kshetriya Gramin Bank, The Haryana State Co-operative Bank and Imphal
Urban Cooperative Bank Limited.

Products Insurance Solutions For Individuals

ICICI Prudential Life Insurance offers a range of innovative, customer-centric products that meet
the needs of customers at every life stage. Its products can be enhanced with up to 4 riders, to
create a customized solution for each policy holder.

Savings Solutions

Save’n’Protect is a traditional endowment savings plan that offers life protection along with
adequate returns.
CashBak is an anticipated endowment policy ideal for meeting milestone expenses like a child’s
marriage, expenses for a child’s higher education or purchase of an asset.
LifeTimeSuper offer customers the flexibility and control to customize the policy to meet the
changing needs at different life stages. Each offer 4 fund options — Preserver, Protector,
Balancer and Maximiser.
LifeLink Super is a single premium Unit Linked Insurance Plan which combines life insurance
cover with the opportunity to stay invested in the stock market.
Premier Life Gold is a limited premium paying plan that offers customers life insurance cover till
the age of 75.
InvestShield Life New is a unit linked plan that provides premium guarantee on the invested
premiums and ensures that the customer receives only the benefits of fund appreciation without
any of the risks of depreciation.
· InvestShield Cashbak is a unit linked plan that provides premium guarantee on the invested
premiums along with flexible liquidity options.

Protection Solutions

LifeGuard is a protection plan, which offers life cover at very low cost. It is available in 3 options –
level term assurance, level term assurance with return of premium and single premium.
HomeAssure is a mortgage reducing term assurance plan designed specifically to help customers
cover their home loans in a simple and cost-effective manner.
Child Plans

· SmartKid education plans provide guaranteed educational benefits to a child along with life
insurance cover for the parent who purchases the policy. The policy is designed to provide money
at important milestones in the child’s life. SmartKid plans are also available in unit-linked form –
both single premium and regular premium.
Education Insurance Plans

· Education insurance under the SmartKid brand provides guaranteed educational benefits
to a child along with life insurance cover for the parent who purchases the policy. The policy is
designed to provide money at important milestones in the child's life. SmartKid plans are also
available in unit-linked form - both single premium and regular premium
Retirement Solutions

ForeverLife is a retirement product targeted at individuals in their thirties.

Market-linked retirement products
LifeTime Super Pension is a regular premium market-linked pension plan.
Golden Years: is a limited premium paying retirement solution that offers tax benefits up to Rs
100,000 u/s 80C, with flexibility in both the accumulation and payout stages.
Health Solution

Health Assure and Health Assure Plus: Health Assure is a regular premium plan which provides
long term cover against 6 critical illnesses by providing policyholder with financial assistance,
irrespective of the actual medical expenses. Health Assure Plus offers the added advantage of an
equivalent life insurance cover
· Cancer Care: is a regular premium plan that pays cash benefit on the diagnosis as well as
at different stages in the treatment of various cancer conditions.
· Diabetes Care and Diabetes Care Plus*: 1st ever critical illness insurance cover for
diabetics.

· Hospital Care*: Hospital Care offers a Cashless hospitalization facility in more then 3000
network hospitals

· Crisis Cover : is a 360-degree product that will provide long-term coverage against 35
critical illnesses, total and permanent disability, and death

Note (*) products Re-launched on 1st July 2006

Group Insurance Solutions

ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance
benefits to their employees.

ICICI Pru Group Gratuity Plan: ICICI Pru’s group gratuity plan helps employers fund their
statutory gratuity obligation in a scientific manner. The plan can also be customized to structure
schemes that can provide benefits beyond the statutory obligations.

ICICI Pru Group Superannuation Plan: ICICI Pru offers a flexible defined contribution
superannuation scheme to provide a retirement kitty for each member of the group. Employees
have the option of choosing from various annuity options or opting for a partial commutation of
the annuity at the time of retirement.

ICICI Pru Group Term Plan: ICICI Pru’s flexible group term solution helps provide affordable
cover to members of a group. The cover could be uniform or based on designation/rank or a
multiple of salary. The benefit under the policy is paid to the beneficiary nominated by the
member on his/her death.

Flexible Rider Options

ICICI Pru Life offers flexible riders, which can be added to the basic policy at a marginal cost,
depending on the specific needs of the customer.
1. Accident Benefit: If death occurs as the result of an accident during the term of the policy,
the beneficiary receives an additional amount equal to the rider sum assured under the policy. If
the death occurs while traveling in an authorized mass transport vehicle, the beneficiary will be
entitled to twice the sum assured as additional benefit.

2. Accident & Disability Benefit: This rider option pays 10% the sum assured under the rider
every year till next 10 years on Accidental Permanent Disability of 2 Organs.

3. Critical Illness Benefit: protects the insured against financial loss in the event of 9 specified
critical illnesses. Benefits are payable to the insured for medical expenses prior to death.

4. Income Benefit: This rider pays the 10% of the sum assured to the nominee every year, till
maturity, in the event of the death of the life assured. It is available on SmarKid, SecurePlus and
CashPlus
5. Waiver of Premium: In case of total and permanent disability due to an accident, the
premiums are waived till maturity. This rider is available with SecurePlus and CashPlus.
Choice of Six Investment Options :-

ICICI prudential offers you the opportunity of selecting between investment options to match your
investment priorities.

1) Protector:-
 An Investment Option with investment indebt and money market instruments.

2) Maximiser :-

An investment option with investment in equity and equity related instruments.

3) Balancer :-

An investment option with investment in a mix of equity and debt oriented instruments.

4) Preserver :-

An investment option with investment in low-risk instruments like cash and call

money markets.

5) Flexi Growth:-

New Fund (NFO) launched in March 2007, Long term returns from an equity portfolio lare,mid
and small cap companies.

6) Flexi balanced:-

Balance of capital appreciation and stable returns from an equity (large,mid & small cap
companies) & debt portfolio.

Vision and Mission

Their vision is to make ICICI Prudential Life Insurance Company the dominant new insurer in the
life insurance industry. This they hope to achieve through their commitment to excellence, focus
on service, speed and innovation, and leveraging our technological expertise.

The success of the organisation will be founded on its strong focus on values and clarity of
purpose. These include:

· Understanding the needs of customers and offering them superior products and service
· Building long lasting relationships with their partners
· Providing an enabling environment to foster growth and learning for their employees

And above all building transparency in all our dealings.

They believe that they can play a significant role in redefining and reshaping the sector. Given the
quality of their parentage and the commitment of their team, they feel that tere will be no limits to
their growth.

DISTRIBUTION

ICICI Prudential has one of the largest distribution networks amongst private life insurers in India,
having commenced operations in 150 cities and towns in India, stretching from Bhuj in the west to
Guwahati in the east, and Jammu in the north to Trivandrum in the south.

The company has 9 bank partnerships for distribution, having agreements with ICICI Bank, Bank
of India, Federal Bank, South Indian Bank, Lord Krishna Bank, and some co-operative banks, as
well as over 300 corporate agents and brokers. It has also tied up with NGOs, MFIs and
corporates for the distribution of rural policies.

ICICI Prudential has recruited and trained more than 1, 90,000 insurance advisors to interface
with and advise customers. Further, it leverages its state-of-the-art IT infrastructure to provide
superior quality of service to customers

RegisteredOffice :

ICICI Towers 9thfloor, Bandra-Kurla Complex

Mumbai - 400 051.
Tel: 494 3232

Regional Office :
8th floor EROS Coorporate Tower,Nehru place,

New Delhi-110011.Tel:46554405

Delhi office :

3rd floor
Videocon Towers
E-1, Rani Jhansi Road
New Delhi - 110055. Tel: 601 3232

ICICI Prudential Life Insurance opens office in Dubai

In a move to consolidate its position in the Gulf region, ICICI Prudential Life Insurance (ICICI
Prudential), India's No. 1 private life insurance company, today opened its representative office in
Dubai, becoming the first private life insurer from India to open an office in the Emirate.

At ICICI Prudential we offer pragmatic, world-class solutions. Put simply, solutions with a lot of
common sense. Solutions that take care of your four basic financial needs - Earning, Saving,
Investing and Spending. So you live your life to the fullest, sans worries.

The Project Report on Recruitment and Selection Process - Recommendations, Conclusions,

Learning Process are in the next chapter.

Find the Next Chapter - OBJECTIVES RESEARCH METHODOLOGY, Limitations,

RECRUITMENT AND SELECTION RECOMMENDATIONS conclusion, learning .........

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Project Report Recruitment-Selection Process Insurance Companies

OBJECTIVES OF THE PROJECT

Every task is undertaken with an objective. Without any objective a task is rendered meaningless.
The main objectives for undertaking this project are:

v To understand the internal Recruitment process at ICICI Prudential Life Insurance

v To identify areas where there can be scope for improvement

v To give suitable recommendation to streamline the hiring process

METHODOLOGY

The insurance sector is marked with a high level of attrition and therefore recruitment process
becomes a crucial function of the organization. At ICICI Prudential Life Insurance, recruitment is
all time high during May-June and Oct-Nov. The attrition is high among the sales managers, unit
mangers mostly in the sales profile. The recruitment is high during these months due to the fact
that March and September are half year closing and business is high during Jan-Mar. Thus it is
only after March that people move out of the companies.

Since my summer training was in the months of May-June, it gave me the opportunity of involving
myself directly with the recruitment process and analyzing the process so that suitable
recommendations can be given. This project is centered on identifying best hiring practices in the
insurance industries. It therefore requires great amount of research work. The methodology
adopted was planned in advance so as to collect data in the most organized way.

My area of focus was the recruitment and selection particularly at ICICI Prudential Life Insurance.
I was directly involved with the recruitment for candidates for the sales profile. I was particularly
involved with the sourcing of candidates for the regions outside Delhi such as M.P, U.P and
Rajasthan.

Before any task was undertaken, we were asked to go through the HR policies of ICICI Prudential
Life Insurance so that we get a better understanding of the process followed by them.

v The first task was to understand the various job profiles for which recruitment was to be
done.

v The next step was to explore the various job portals to search for suitable candidates for the
job profile.

v Once the search criteria were put, candidates went through a telephonic interview to validate
the information mentioned in their resume.

v A candidate matching the desired profile was then lined for the first round of Face to Face
interview in their respective cities.

v Firstly the candidate had filled up the personal data form(pdf).

v Then the candidates INTERVIEW EVALUATION SHEET which is provided by interviewer

was crosschecked by the HR team. If they think that the candidate was good to hire or not.

v When a candidate cleared his first round, he is then made to take an online aptitude test. We
created the online aptitude test. It the HR department, which has the exclusive rights to assign
test, codes to the candidates. Each code was unique and could be used only once by a
candidate.

v I was involved in assigning codes and administering the test

v Once the candidate completed his first assessment, his scores were checked. If he cleared
his cut-off he was given another test.

v I had the responsibility to make sure that candidates complete all formalities and had to
regularly follow up with them.

v Since we received many resumes, it was essential that a database be maintained to keep a
track. It was convenient method than to stock up piles of papers. ICICI has their own database
named as “PACE”, I update all the records of the new joinees in that tracker. PACE containes all
the information of a candidate such as name, contact number, location etc.

v The external guide maintained a regular updating of the database.

v Understanding what kinds of database are maintained and how they help in keeping a
record.

v I was also involved in maintaining a track of test codes given, the database for employee
referrals, Database for the resumes received through mails and response of advertisement.

RESEARCH METHODOLOGY

Date Source

Primary :- Through Questionnaires

Secondary :- Through Internet, Journals, News papers and Misc.

Data Collection Procedure :- Survey

Research Instrument :- Structured Questionnaire.

Sample Size : - 80

Sample Area : - work done in Delhi regional Office.

Sample procedure :- Random sampling.

PROJECT SCHEDULE :-

First 1 week :-Training program from the company.

Second week :-Collecting the primary and secondary data.

Third Fourth week :- Study Recruitment & Selection Process

Fifth week :-Designing the questionnaire .

Sixth week :-Conducting the survey in RO.

Seventh week :-Analysis of Data Collection.

Eighth week :-Final Report preparation and presentation.

Limitations of the study

Every task is undertaken with an objective and accomplishment of this objective determines our
success.

Task:
The recruitment at ICICI Prudential Life Insurance involved a lot search from the database and
calling up candidates to check whether they fit the job specification.

Difficulties:

v Candidates were reluctant to talk at times;

v Candidates who were contacted were not interested in Insurance on many occasions;

v Candidates who were scheduled for interview would not turn up;

v Run out of database many times since most of them would have already been contacted;

Task:

Candidates were to be searched from the job portals and called up to be scheduled for an
interview.

Difficulties:

v A summer trainees we could not separate systems to work on;

v At times many people had for couple of hours to work on the computer;

v Since STD calls had to be made, the availability of phone was limited, so there was greater
coordination required with respect to its usage and maintains a time slot so that other person has
a chance to use.

Task:

Inter company analysis through survey and questionnaire filling.

Difficulties:

v Did not secure cooperation easily;

v People asked lot of counter question so convincing them was a major task;

v People did not disclose much about their employee details.

Topic Information

RECRUITMENT AND SELECTION

“The art of choosing men is not nearly so difficult as the art of enabling those one has chosen to
attain their full worth”.

Recruitment is the process by which organizations locate and attract individuals to fill job
vacancies. Most organizations have a continuing need to recruit new employees to replace those
who leave or are promoted in order to acquire new skills and promote organizational growth.

Recruitment follows HR planning and goes hand in hand with selection process by which
organizations evaluate the suitability of candidates. With successful recruiting to create a sizeable
pool of candidates, even the most accurate selection system is of little use

Recruiting begins when a vacancy occurs and the recruiter receives authorization to fill it. The
next step is careful examination of the job and enumeration of skills, abilities and experience
needed to perform the job successfully. Other steps follow:

v Creating an applicant pool using internal or external methods

v Evaluate candidates via selection

v Convince the candidate

v And finally make an offer

Scope: To define the process and flow of activities while recruiting, selecting and appointing
personnel on the permanent rolls of an organization.

Authorization:

S.No.

Authorized Signatory

Head- Human resource

Managing director

Amendments and deviations:

Any amendments to and deviations from this policy can only be authorized by the Head-human
Resources and the Managing Director.

Exclusions:

The policy does not cover the detailed formalities involved after the candidate joins the
organization.

ACTIVITY FLOW

The organization philosophy should be kept in mind while formulating the recruitment procedure.

The HR department would set the recruitment norms for the organization. However, the onus of
effective implementation and compliance with the process rests with the heads of the respective
functions and departments who are involved in the recruitment and selection process.

The process is aimed at defining the series of activities that needs to be performed by different
persons involved in the process of recruitment, the checks and control measures to be adopted
and information that has to be captured.

Recruitment and Selection is conducted by:

v HR & Branch Manager

v Functional Head

RECRUITMENT PLANNING

Recruitment planning on the basis of budget

The manpower planning process for the year would commence with the company’s budgeting
activity. The respective Functional heads would submit the manpower requirements of their
respective functions/ departments to the board of Directors as part of the annual business plan
after detailed discussion with the head of human Resource Function along with detailed notes in
support of the projected numbers assumptions regarding the direct and indirect salary costs for
each position.
A copy of the duly approved manpower plan would be forwarded by the HR department for their
further actions during the course of the year. The annual budget would specify the manpower
requirement of the entire organization, at different levels, in various functions/departments, at
different geographical locations and the timing of the individual requirements. It would also
specify the requirement budget, which is the cost allotted towards the recruitment of the budgeted
staff and the replacement of the existing employees. The manpower plan would also clearly
indicate the exact time at which the incumbent should be on board in such a way that the
Regional HR has adequate notice for the time lapses involved in sourcing any other activities.
The Regional HR’s would undertake the planning activity and necessary preparations in advance
of the anticipated requirements, as monthly and quarterly activities on the basis of the approved
budget, estimated separations and replacements therefore.
The vacancies sought to be filled or being filled shall always be within the approved annual
manpower budget and no recruitment process shall be initiated without the formal concurrence of
the Head of the Regional HR under any circumstance. Head of the Regional HR shall also have
the responsibility to monitor the appointments being considered at any point of time with specific
respect to the duly approved manpower budgets.
Review of Manpower Plans and Additional Manpower

A. Review of manpower budgets shall take place on a quarterly basis. In the event of any new
position or any deviations to the original plans, details of the positions maybe forwarded to the
VP-HR along with the adequate supporting information. The recommendations would normally
require a formal approval of the Managing Director. Alternately, VP-HR may record the summary
of his discussion with the Managing Director and the MD’s approval on the recommendations, to
signify the final decision taken regarding the recommendations.

SOURCING OF SUITABLE CANDIDATES

Selection of Sources

Regional HR would tap various sources/channels for getting the right candidate. Depending on
the nature of the position/grade, volumes of recruitment and any other relevant factors, the
Regional HR would use any one multiple sources such as:

v Existing database (active application data bank);

v Employee referral as per any company scheme that may be approved from time to time;

v Advertisement in the internet/newspapers/magazines/company’s sites/job sites or any other

media;

v Placement Agencies (particularly for positions of Managers and above);

v Headhunting firms particularly for senior positions, specialist positions and critical positions;

v Direct recruitment from campuses/academic institutes;

v Job websites and

v Any other appropriate sources.

The norms for using any of the sources are not water tight. Number of positions, criticality of
positions and the urgency of the positions, confidentiality requirements, relative efficacy and cost
considerations would play a role in the choice of the appropriate sourcing mechanism.

ADVERTISEMENTS

v All recruitment advertisements (in any form and any medium) shall always conform to the KLI
compliance norms and would not be released by any department or branch without the approval
of the VP-HR. depending on the specifics of each position for which recruitment advertisements
are to be released, Regional HR may obtain assistance from the company’s marketing
department and/or any external advertising agencies for the preparation of the contents. Key
features of the positions as notified by the Functional Heads would normally form a part of the
advertisement text.

v The media for releasing advertisement would depend on the level of the position being
considered and the urgency of the requirements.

v The advertisement mode that could be broadly specified as newspapers (local or mainline
depending on requirements), internet sites and business magazines.

Placement Agencies/Headhunting Agencies

v Depending upon the vacancies, fresher fitting different description listed above may be
recruited from time to time, from academic institutes of appropriate standards/reputation/grade, in
the requisite numbers and at the compensation/stipend amounts to be formally approved of the
VP-HR. Plans for such recruitment need specific special approval of VP-HR. norms regarding the
identification of the appropriate institutes, constitution of the selection panels, timings of the
recruitment, number of candidates to be recruited into different positions, choice of the
appropriate selection process and the tools thereof shall be decided by the Head of the Regional
HR in consultation with the VP-HR, depending on the specific features of the position.

Screening the candidates

First level screening

The Candidates would be screened by the HR Manager/Branch Manager for the respective
locations. Screening would be on the basis of the profile of the candidate and the departmental
requirements.

This assessment will be with respect to:

The general profile of the candidate,

Personality fit of the candidate into the profile,
Aptitude/attitude of the candidate,
Motives of the person to join the company and whether focus is in the short term or is a long term
player,
Basic skill level on our set of requirements, say numerically ability, networking ability, etc
Establish the annual guaranteed cash compensation of the individual and check whether the
person would fit into the system.
Explain the role of Sales manager to the applicant and check the acceptance of the candidate for
the same.
In case of need, the Regional HR may take a Tele interview of the candidate for further
assessment process.

Second Level Screening

Aptitude Test

If the first assessment is positive, the candidates will give the aptitude test, once such test is
selected approved by the company. The scoring, interpretation and the generation of interview
probes from that test will also be done at this time. People who qualify the minimum criteria on
this test will be put up on to the Functional Head (VP’s in case of HO) for functional assessment
and suitability into the role.

Tied Agency Sales Manager candidates short listed by the BM have will then take sales Aptitude
test, once such a test is finalized. For the final selection, the regional Manager (Business Heads
for HO) will meet the candidates short listed by the branch manager/VP. The chart specifying the
Minimum approval level for each level of recruitment is specified below:

Category

Branch Manager/Chief Manager

Area Manager/AVP/VP

Business Heads

Managing Director

CSE/ADVISORS

Yes

No

No

No

BIC

Yes

Yes

No

No

BM/CM

Yes
Yes

Yes

No

SM

Yes

Yes

Yes

Yes

General Norms regarding interview Process:

Interviews should consider the entire data provided by the candidate either through the formal CV
or otherwise before coming to a conclusion about the candidate. They may insist on seeing the
proof of the claims made by the candidate regarding qualifications, experience and other
achievements. They may, at their discretion, decide to meet the candidate on more than one
occasion or to refer the candidate to another panel.
Ratings on various attributes of the candidates shall be recorded in the interview evaluation
sheet, soon after the interview is over. Along with these numerical ratings, qualitative
observations about the candidate and overall decision regarding selection or otherwise (including
a decision to defer the induction, referral to another panel, considering for another position) shall
be forwarded to the associated Recruitment Manager/ Head of Regional HR. Individual panel
members have the option of appending their additional remarks/observations. No selection will be
treated as final unless the IES form is filled comprehensively. Suitably appropriate IES formats
may be created for specific positions.
Any discrepancies noticed by the panel members regarding the authenticity of the data provided
by the candidate should be specifically and formally recorded on the IES form and suitably high
lightened.
Specific points to be probed during the reference check process, if any, must also be clearly
recorded and high lightened on the IES forms.
Administrative Actions Regarding Interviews

Scheduling and the venue of the interviews would be handled by the recruitment team in
consultation with the short listed candidate and the selection panel members, after taking mutual
convenience into account. For field positions, respective branch/regional heads would undertake
this co-ordination.
After the final round, if the candidate is selected, the complete set of papers Personal Data Form,
CV, job requisition no., Interview evaluation sheet ,reference check details, educational details,
along with the interviewer’s recommendations and Reference check form should be forwarded by
the recruitment managers to recruitment head. Fitment of the candidate into a grade and
compensation fitment shall be on the assumption of authenticity of the information provided in the
CV/application form.
An appropriate formal communication shall be sent to the candidate whose candidature is not
being taken forward, or details of the verbal/telephonic communications provided to the candidate
shall be recorded on the candidates papers, by the recruitment team/associated line managers.
In the case of interviews taking place at the branch/regional levels, similar noting should be
recorded on the individual candidate’s papers.
Negotiations of the terms and conditions and other pre-appointment formalities

In the case of sales-Tied Agency functions, the branch managers will be allowed to fix the salary
and grade of the incoming sales manager, provided the compensation does not exceed 20% of
the candidates current cash salary. Any fitment beyond this norms will need the approval of
Head-HR. HR will forward a worksheet to support the BM’s to evaluate the appropriate cash CTC
of the incumbent. For all other functions, the compensation and grade would be fixed post a
discussion between the Head of the Regional HR and the associated AVP/VP. Any candidate
being offered a CTC of more than 4lacs will need the sign off from HEAD-HR. In appropriate
cases, at the discretion of the VP-HR, a deviation may be referred to the Managing Director, for
the MD’s formal approval.
Responsibility for negotiations and finalization of the terms shall rest with the best Branch
Manager/Associated Manager. They may seek the assistance of the recruitment managers,
whenever required. Reference checks process should not normally be initiated unless the
candidate has indicated his firm acceptance of the offer being made by us.
Reference checks

A. Normal, reference checks should be undertaken with at least one reference. A second
reference check will be done if considered necessary. Responsible officials from the former
employers, academic institutes and/or any other eminent personalities can be considered as
appropriate references. Close relatives and friends cannot be considered as references.
Wherever feasible and considered appropriate, a reference should be made with a senior official
of the candidate’s current employer. In case the candidate is currently un-employed, reference
should be made with the latest employer. The format of reference check is to be used as a
framework for conducting the process.

B. Where the minimum two reference checks are not possible (particularly with the current
employer) or where there is a mixed response from different sources, the matter may be to the
VP-HR for a final decision. Depending on the seniority and any other considerations about the
positions, VP-HR would normally consult the functional head concerned, before coming to
conclusions. Any candidate whose credentials are doubtful shall not be recruited.

C. In case of recruitment of Management trainees, fresher and life advisors as sales Managers
no reference checks will be required.

Employment offer letter

When a recruitment Manager is fully satisfied about the selection of the right candidate and about
completion of all the formalities connected with the appointment of candidate including requisite
documentation, satisfactory reference check reports and medical fitness, he/she would forward
the relevant papers listed below to the head of recruitment.
Ø Personal Data form

Ø Employee requisition form duly filled by the regional Head/Branch Manager

Ø Interview evaluation sheet filled by the regional head/Branch manager/interviewer with

his/her comments.

Ø Latest and updated resume of the candidate

Ø Photocopy of the appointment letter of the last employer or latest salary slip.

Ø Employment details.

Ø Two Professional references.

Ø Language Proficiency.
Document check list for every grade is as follows:
Ø Authorization Release Form.

Ø Background check Form.

Ø Highest Education certificate.

Ø Highest Education marksheet.

Ø 1 Month Salary Slip of Current Employer.

Ø 1 Month Salary Slip of Last Employer.

Ø Relieving Letter of last Employment.

Ø Proof of Residence.

Ø 2 Passport Size Photograph.

Regional HR manager will take the signature of Head-HR on the employee requisition form and
forward the papers to the employee service team for issuance of the offer letter.
Employee services team will issue offer letter, to be signed by the National Recruitment Manager
or Chief Manager-HR, and send the same to the concerned Branch Manager/ HR Manager.
It would be the responsibility of the Branch Manager/HR Manager to ensure that the accepted
copy of the offer letter is forwarded to the employee service team within a week of receipt of the
offer letter. Till this letter is issued, the ‘offer’ has not taken place in formal sense. A copy of the
offer letter shall be duly signed and returned to the candidate. Candidate would be expected to
fulfill various joining formalities, which are also formally communicated to him/her in the form of a
checklist that is attached to the letter of offer. The Regional HR head shall have the overall
responsibility and accountability to maintain the templates of the offer letters and also for drafting
of suitable non-standard terms to any specific candidate.
The employee service team will follow up Branch Manager/Regional HR Manager for the joining
of the candidate and will collect all relevant documents from the candidate including the joining
report, before issuing the appointment letter. The employee service team may enlist the help of
the Branch Manager to ensure that all necessary documents within ten days o the person joining.
After the of all necessary documents, the employee service team will send the appointment letter
to the new joinee.
Once the documentation is complete for the new joinee (including the accepted appointment
letter), people who may have joined before 20th of the month but have not been included in the
payroll for the month because of delay in receipt of papers will be given ad-hoc salary advance
(up to maximum of 65% of the pro rated salary). This advance will be adjusted once the person
gets included in the subsequent month’s payroll.
If the person does not submit the relieving letter from the previous organization, where required to
be submitted as per the table given above, within three months of joining, the employee service
manager can put their salary on hold till such time as the said documents are received.
Key tasks of Regional HR Head

Regional HR Head will have the authority and responsibility to administer/implement the
recruitment and selection process as outlined. An illustrative list of the key deliverables of these
incumbents is listed below.

v Ensuring inductions as per quality, numbers, time and cost consideration of the company in
accordance with the approved manpower budget.
v Creation of appropriate sourcing mechanism along with tracking the performance of these
mechanisms.

v Creation of quarterly and monthly recruitment plans

v Effective coordination with external parties such as candidates, placement agencies,

consultants, academic/professional institutes and any other including the custody of the formal
agreements , tracking timely payments and adjusted thereto

v Creation of comprehensive and appropriate tools, linkages, documents, templates and any
other mechanisms to ensure smooth execution of the process requirement, along with timely
improvements thereto

v Assistance to user department and line managers including in interviewing/selection support,

scheduling etc.

v Effective internal communication with user departments and line managers including making
the standard recruitment formats and other templates easily available to such users and notifying
the modifications to such formats and templates.

v Creation and maintenance of qualitative information base regarding candidates, placement

agencies, campuses, institutes, and any other employment-market information.

v Creation and maintenance of appropriate and high-quality MIS for current and future needs of
the organization, including publication/circulation of appropriate reports there from to the relevant
users within the company.

v Monitoring recruitment costs

v Complete documentation for the entire recruitment and selection process for easy and quick
retrieval in a readily auditable format

v Timely and effective communication with all internal and external parties including the
candidates

v Tracking the progress of the selected candidates including resignation, extensions of

probation periods/training period, etc for the purpose of improvement to recruitment and selection
process.

v Effective coordination with the post recruitment arm of the Human Resource function

v Documentation and creating MIS regarding waiver, deviation, etc and identifying the key
areas for improvement in the formal recruitment and selection process document.

SWOT Analysis of ICICI Prudential Life Insurance’s Recruitment Process

Strengths

Brand equity of Kotak Mahindra Bank.

Rigorous Pre-Hiring assessment tests to understand aptitude and personality of candidates.

Proper reference checks to ensure that only bonafide candidates are appointed.

Adequate number of channel partners to generate footfalls for each location.

Footfall MIS being maintained at each branch locally by Admin.

Weaknesses

Pre assessment tests are costly.

Conversion of footfalls is low.

Lengthy pre-offer formalities.

Huge employee turnover.

Opportunities

Campus recruitments have huge potential for fulfilling manpower requirements cost effectively.

Tie up with recruitment agencies on supplying fixed number of footfalls week on week.

Develop exclusive contract with channel partners to meet the manpower requirements.

Make blue form brief and to the point.

Reduce turn around time of making an offer.

Threats

Increasing number of private players in insurance sector creates ample choices, frequent and
easy mobility for employees.

Same channel partners are handling all insurance companies. This leads to same pool of
candidates being circulated to all partners.

Increasing spill over as a candidate has more than one offer at the time of making a job shift.

As the insurance industry is small, senior level candidates hesitate to meet HR of other
companies for the fear of grapevine.

RECOMMENDATIONS & SUGGESTIONS

Compress the "white space" in your hiring process.

White Spaces are delays in hiring process that are unproductive, waste time, and virtually assure
you'll lose talented candidates. Often the longest delays occur between critical selection events.
For example, a recruiter may need several weeks to screen a few hundred resumes from the
Web job boards, or candidates who make it through screening may wait weeks to interview with a
hiring manager.

Here at ICICI Prudential Life Insurance, the delays occur when the outstation candidates are
called for interviews at Regional branches like Delhi and Mumbai. Sometimes, because of busy
schedule of senior managers and sometimes because of tight schedule of candidate, the
interview has to be postponed. This delay could be minimized by scheduling interviews in the
regional locations. It is recommended to reduce the turnaround time for the recruitment and
selection process. It must be made mandatory for the candidates to take the test, filling up forms
etc within the stipulated time, this will make sure that the candidates do not hold casual attitude
and take the recruitment process more seriously. Additionally it can send across a positive image
about the company. White space in recruitment can be compressed by the use of IT also.
Technology (such as automated or Web-based tracking) is ideal for eliminating unnecessary
steps and reducing delays.

Tie up with more & more consultants from multiple segments

Since the limited placement agencies are sourcing candidates to all insurance companies, there
often comes the problem of duplication of data. Therefore it is recommended that more and more
consultants should be tied up from multiple segments to attract large pool of new and fresh talent.

Know what you're looking for in candidates.

It is observed that the candidates sourced by placement agencies and send for further rounds of
interviews are rarely found suitable by the hiring managers. Therefore, in case there is need to
utilize the service of a placement agency, then it is recommended that these placement agencies
be given a well drafted job description and job specification. This can also be circulated to internal
employees under the employee referral scheme. This will help people to get a clearer picture and
provide for most suitable candidates. Thus making efficient utilization of the existing resources.

Reduce the pre offer formalities:

Pre-offer documentation includes filling of a lengthy Blue form which includes all personal,
educational and professional details of candidate. This is very time consuming and even after
taking these details from candidate its not sure that offer will be made or not. This also becomes
frustrating for the candidate sometimes. So, it is recommended that unnecessary details should
not be asked before we make the final offer to the candidate. Blue form should be made consise.

One size doesn’t fits all

An effort must be made to study local condition, education levels. Since applying common test for
all candidates across entire country can overshadow a candidates capabilities. This factor must
be given importance since Indian society is divided on various parameters such as education,
language, infrastructure etc. A test with high level of English and complicated sentence structure
can be a hurdle in areas where language itself is barrier. An option is to have different tests for
different regions.

Blend technology into every aspect of your recruiting and hiring process.

Web-based technology lets you increase hiring speed and quality while reducing costs. Currently,
job boards constitute the biggest use of the Web, offering access to thousands of resumes within
hours. But the Web can also be a powerful tool for screening and qualifying that flood of resumes.
Companies have begun to use the Web to collect and instantly match data on candidate skills,
motivations, and experiences against job criteria. Other uses of Web-based technology include
online interviewing, candidate assessment and testing, applicant self-scheduling, and tracking.
Work the Web wisely and you save time for recruiters and hiring managers and nab top
candidates before your competitors can.

v It is recommended that apart from the person-job fit, method must be devised to check for
person-organization fit. A person-organization helps to assess how well a candidate is suited the
organization. Whether the attitude he/she carries will promote both organizational as well
personal goals. This takes a great importance especially when attrition is high. It will help the
organization to retain its employees for a longer period of time and less burden on recruitment
staff.

Build and manage your candidate pool as a precious resource.

A "candidate pool" is a group of individuals who have shown interest in working for your company
and are qualified for and ready to fill certain positions. Rather than undertaking the time-
consuming process of filling one job at a time, you draw on the candidate pool and fill jobs as they
become available. How do you keep a pool active? Some companies send their newsletters to
pool candidates, give them product coupons, and keep in touch through e-mail. Pool
management is not easy in a tight labor market --good candidates often go elsewhere. But many
organizations, especially those with a reputation as a great place to work, are able to fill positions
quickly using the pool concept.

Create winning impression even on those who are not selected

Its very important to create a favorable impression of your organization on all those who come for
interview. Those who are not selected in the first round of personal interview should also carry
this impression that they have missed the opportunity to work in a great company. For this, there
must a proper coordination of the interview of the candidate and greater degree of
professionalism. A candidate when invited for a interview must be attended as soon as possible
and should be made to wait for hours together. Interviews conducted on a scheduled time leave a
good impression on the candidate. Even if he is not selected, a good impression about the will
make him recommend the name to his people.

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 it activities. It is only when
organization is recognized for its quality that it can build a stability with its customers. Thus an
organization must be able to stand out in the crowd.

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. Thus the organization must look out for methods that can enable it to adopt best
recruitment practices.

LEARNINGS

Every endeavor undertaken to accomplish challenging goals, can only be successful under the
experienced and encouraging guidance. I am privileged to have undergone training at ICICI
Prudential Life Insurance. As learning never stops, my learning at Kotak has come from a lot of
exposure, on the job training and close interaction with the corporate. In brief my learning and
achievements can be summarized as under:

Understanding of person and profile fit.

Convince people about the job profile and to sell the job to the prospective candidate;
Following up with the candidates during the entire selection process;
Learned to convince candidates about the offer rolled out and making them accept the offer
through effective communication;
Learning about salary fitments.
Communicating with the corporate;
Performance appraisals, its various types, implications and significance;
Handling queries received from various quarters;
Managing HR department in the absence of HR manager;
Reply to official mails;
Prioritize issues according to their importance;
Field work exposure to tap candidates that further strengthened the learning.

http://www.allprojectsmba.com/RECRUITMENT%20AND%20SELECTION%20PROCESS%20OF
%20ICICI%20PRUDENTIAL%20LIFE/recruitment%20and%20selection,%20summary,
%20introduction%20of%20insurance%20 16/5/2011

http://www.citehr.com/research.php?q=Free-downlod-MBA-Project-on-Recruitment-and-
Selection&pag=10 16/5/2011

http://www.citehr.com/research.php?q=Free-downlod-MBA-Project-on-Recruitment-and-
Selection&pag=10(IMP 16/5/11)