ACKNOWLEDGEMENTA DESSERTATION is an integral part of a Post Graduation Diploma inManagement curriculum. It helps the student to undergo a simulation test of whatthe student is going to face in his/her future job sphere and a taste of practicality. Ithelps the student to understand how an organization works. The competitiveatmosphere, the ups and downs in the cycle of the organization, the enthusiasm ofinteracting with newer people and gaining vast practical knowledge is what asummer trainee goes through during his /her months in the organization.My project in Metlife India Insurance is an experience worth sharing.First and foremost I would like to thank Dr.Zeeshan Amir (Dean of faculty of Management and Research(MBA), INTEGRAL UNIVERSITY,LUCKNOW for her great support and guidance .I would also like to thank my guide Mr. Habibuddin (Assistant Proffessor) Faculty of Manageement And Research for his patience , continuous help and guidance and it was great privileged working under his.
PREFACEPeople are a company‘s most important assets. They can make or break thefortunes of a business. In today‘s highly competitive business environment placingthe right people in the right position is very critical for the success of anyorganization.The recruitment and selection decision is of prime importance as it is the vehiclefor obtaining the best possible person-to-job fit that will, contribute significantlytowards the Companys effectiveness. It is also becoming increasingly important,as the Company evolves and changes, that new recruits show a willingness tolearn, adaptability and ability to work as part of a team. The Recruitment &Selection procedure ensures that these criteria are addressed.In this project I have studied Recruitment and Selection process of Metlife IndiaInsurance and attempted to provide some ways so as to make recruitment moreeffective and to reduce the cost of hiring an employee.This project however is an attempt to share as best as possible my experience incorporate world with all my colleagues and my faculty.I would be delighted to receive reader‘s comments which maybe valuable lessonsfor my future projects.
EXECUTIVE SUMMARYIn today‘s rapidly changing business environment, organizations have to respondquickly to requirements for people. The Financial market has been witnessinggrowth which is manifold for last few years. Many private players have entered theeconomy thereby increasing the level of competition. In the competitive scenario ithas become a challenge for each company to adopt practices that would help theorganization stand out in the market. The competitiveness of a company of anorganization is measured through the quality of products and services offered tocustomers that are unique from others. Thus the best services offered to theconsumers are result of the genius brains working behind them. Human Resourcein this regard has become an important function in any organization. All practicesof marketing and finances can be easily emulated but the capability, the skills andtalent of a person cannot be emulated. Hence, it is important to have a well-definedrecruitment policy in place, which can be executed effectively to get the best fitsfor the vacant positions. Selecting the wrong candidate or rejecting the rightcandidate could turn out to be costly mistakes for the organization. Therefore arecruitment practice in an organization must be effective and efficient in attractingthe best manpower.
OBJECTIVES OF THE PROJECTEvery task is undertaken with an objective. Without any objective a task isrendered meaningless. The main objectives for undertaking this project are: To understand the internal Recruitment process at Metlife India Insurance. To identify areas where there can be scope for improvement To give suitable recommendation to streamline the hiring process
S C O P E O F S T UD Y :T h e c o v e r a g e o f t h e e x t e n d s o f t h e p r a c t i c e o f R e c r u i t me n t &selection policy in the organization. It can influence over allw e l l b e i n g o f t h e o r g a n i z a t i o n b y s a t i s fy i n g b o t h e mp l o y e r a n de mp l o y e e s n e e d s .I t a l s o i n c l u d e s s o me c l u e s a n d s u g g e s t i o n s t o l i g h t t h e w a y t of u r t h e r p r o g r e s s a n d i mp r o v e me n t fo r g o o d fu n c t i o n i n g .
D A T A CO L L E CT I O N TYPES OF DATA : 1. PRIMARY DATA 2. SECONDARY DATA METHODS & TOOLS FOR DATA COLLCTION Method : Survey Tool : QuestionnaireSecondary data Internet Books Journal Manuals Annual reportsPRIMARY DATA COLLECTION:Data for the project is collected from the secondary sources .Sources used werelike PACE Tracker (information provider, employee update), Excel sheets ofmonth hiring. Month of informal interview from selected employees was also usedfor the purpose of data collection.
T Y PE S O F AN AL YS I S 1 . D AT A A N AL Y S I S 2 . RE PO RT A NA L YS I S1. DATA I NT E R P RE T AT I O N AND DATA R E P R E SE NT A T I O N Sample Survey: Employees. Area of Survey: Lucknow Time Period: 8 WEEKS. Data Type: Primary Data.Sample Selection: Convenience.Sample size: 100 employees.
SAMPLINGSampling procedure includes finite types of universe with random sampling whichcomes under probability method of sampling because under this method every itemof the universe has a equal chance of being selected and no place for biasesness.In my research use random sampling which is a part of random sampling with asystematic design.SAMPLING DESIGNA sampling design is a definite plan for obtaining a sample for a given population.There are 150 employees in office of Metlife India Insurance, I have chosen asample size of the 100 employee.SAMPLE DESIGNType of Universe: - The type of universe selected in sample design by researcheris finite to the city of Lucknow.Sampling Unit: - City of LUCKNOW.Sampling Elements: - selected candidates, (who are finally selected byinterviewers through different sources)Sample Size: - The sample size taken here and covered the no. of candidates whowere collected for an interview through different sources.
DEVELOP A RESEARCH DESIGNResearch design is a conceptual structure within which research is conducted; it isbasically the blue print for a collection of data, measurement and analysis of data.“A research design is the arrangement of conditions for collection and analysisof data in manner that aims to combine relevance to research purpose witheconomy in procedure”.My research design is of descriptive type. A descriptive research design is focus onthe discovery of new ideas. it is generally based on secondary data that are alreadyavailable.My research design is of descriptive type because in my training I tried to judge arelationship between different variables like interpersonal skills of employees,overall development of the employees and the training and development to them inthe organization. for that reason it is a descriptive type of research design.In my research design I took help of different phenomenas of the organization.
ResearchThe insurance sector is marked with a high level of attrition and thereforerecruitment process becomes a crucial function of the organization. At MetlifeIndia Insurance, The attrition is high among the sales managers, unit mangersmostly in the sales profile. The recruitment is high during these months due to thefact that March and September are half year closing and business is high duringJan-Mar. Thus it is only after March that people move out of the companies.My area of focus was the recruitment and selection particularly at Metlife IndiaInsurance. I was directly involved with the recruitment of candidates for the salesprofile. I was particularly involved with the sourcing of candidates for the regionsUttar Pradesh and Uttaranchal.Before any task was undertaken, we were asked to go through the HR policies ofMetlife India Insurance so that we get a better understanding of the processfollowed by them.I was involved in coordinating the interviews and making the application id anddoing the documentation as well as Portal of the candidates. The first task was to understand the various job profiles for which recruitment was to be done. The next step was to explore the various job portals to search for suitable candidates for the job profile. Once the search criteria were put, candidates went through a telephonic interview to validate the information mentioned in their resume. A candidate matching the desired profile was then lined for the first round of Face to Face interview in their respective cities. Firstly the candidate had to fill up the Personal Data Form(pdf). I had the responsibility to make sure that candidates complete all the formalities. 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.
Once the candidate completed his first assessment, his scores were checked. The cut-off score is 7 out of 20. The external guide maintained a regular updating of the database. 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 and giving feedback to the consultancies about their candidates.
Introduction of The Insurance IndustryOverviewThe story of insurance is probably as old as the story of mankind. The sameinstinct that prompts modern businessmen today to secure themselves against lossand disaster existed in primitive men also. They too sought to avert the evilconsequences of fire and flood and loss of life and were willing to make some sortof sacrifice in order to achieve security. Though the concept of insurance is largelya development of the recent past, particularly after the industrial era – past fewcenturies – yet its beginnings date back almost 6000 years.The first two decades of the twentieth century saw lot of growth in insurancebusiness. From 44 companies with total business-in-force as Rs.22.44 crore, it roseto 176 companies with total business-in-force as Rs.298 crore in 1938. TheInsurance Act 1938 was the first legislation governing not only life insurance butalso non-life insurance to provide strict state control over insurance business.LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government ofIndia.The General insurance business in India, on the other hand, can trace its roots tothe Triton Insurance Company Ltd., the first general insurance companyestablished in the year 1850 in Calcutta by the British.Some of the important milestones in the general insurance business in India:1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact allclasses 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 minimumsolvency margins and the Tariff Advisory Committee set up.
1972: The General Insurance Business (Nationalisation) Act, 1972 nationalised thegeneral insurance business in India with effect from 1st January 1973.With largest number of life insurance policies in force in the world, Insurancehappens to be a mega opportunity in India. It‘s a business growing at the rate of15-20 per cent annually and presently is of the order of Rs 450 billion. Togetherwith banking services, it adds about 7 per cent to the country‘s GDP. Grosspremium collection is nearly 2 per cent of GDP and funds available with LIC forinvestments are 8 per cent of GDP.Yet, nearly 80 per cent of Indian population is without life insurance cover whilehealth insurance and non-life insurance continues to be below internationalstandards. And this part of the population is also subject to weak social securityand pension systems with hardly any old age income security. This itself is anindicator that growth potential for the insurance sector is immense.A well-developed and evolved insurance sector is needed for economicdevelopment as it provides long term funds for infrastructure development and atthe same time strengthens the risk taking ability. It is estimated that over the nextten years India would require investments of the order of one trillion US dollar.The Insurance sector, to some extent, can enable investments in infrastructuredevelopment to sustain economic growth of the country.India has come a full circle from being an open competitive market tonationalization and back to a liberalized market again. Tracing the developments inthe Indian insurance sector reveals the 360 degree turn witnessed over a period ofalmost two centuries.
Present ScenarioThe Government of India liberalized the insurance sector in March 2000 with thepassage of the Insurance Regulatory and Development Authority (IRDA) Bill,lifting all entry restrictions for private players and allowing foreign players to enterthe market with some limits on direct foreign ownership.The opening up of the sector is likely to lead to greater spread and deepening ofinsurance in India and this may also include restructuring and revitalizing of thepublic sector companies. In the private sector 14 life insurance and 8 generalinsurance companies have been registered. A host of private Insurance companiesoperating in both life and non-life segments have started selling their insurancepolicies.Life Insurance MarketThe Life Insurance market in India is an underdeveloped market that was onlytapped by the state owned LIC till the entry of private insurers. The penetration oflife insurance products was 19 percent of the total 400 million of the insurablepopulation. The state owned LIC sold insurance as a tax instrument, not as aproduct giving protection. Most customers were under- insured with no flexibilityor transparency in the products. With the entry of the private insurers the rules ofthe game have changed.The 12 private insurers in the life insurance market have already grabbed nearly 9percent of the market in terms of premium income. The new business premiums ofthe 12 private players has tripled to Rs 1000 cr. in 2002- 03 over last year.Innovative products, smart marketing and aggressive distribution. Thats the triplewhammy combination that has enabled fledgling private insurance companies tosign up Indian customers faster than anyone ever expected. Indians, who havealways seen life insurance as a tax saving device, are now suddenly turning to theprivate sector and snapping up the new innovative products on offer.The private insurers also seem to be scoring big in other ways- they are persuadingpeople to take out bigger policies. Buoyed by their quicker than expected success,nearly all private insurers are fast- forwarding the second phase of their expansionplans.
Recruitment and selection of employeesRecruitment of staff should be preceded by:An analysis of the job to be done (i.e. an analytical study of the tasks to beperformed to determine their essential factors) written into a job description so thatthe selectors know what physical and mental characteristics applicants mustpossess, what qualities and attitudes are desirable and what characteristics are adecided disadvantage; 80 70 60 50 40 Series1 30 20 10 0 A TA R D ET R IG AH VA SA SA J A IAL SU NZ E RK FE DE IC AN E DR A IF ST LIF NE A A L NM A I DA A LI YO NT AV NL IN AM VY RL LLI T FC SBI W M G RU M IN P A JA K IP AX BA TA BI IC HD M KOIC OM In the case of replacement staff a critical questioning of the need to recruit at all (replacement should rarely be an automatic process). Effectively, selection is buying an employee (the price being the wage or salary multiplied by probable years of service) hence bad buys can be very expensive. For that reason some firms (and some firms for particular jobs) use external expert consultants for recruitment and selection. Equally some small organizations exist to head hunt, i.e. to attract staff with high reputations from existing employers to the recruiting employer. However, the cost of poor selection is such that, even for the mundane day- to-day jobs, those who recruit and select should be well trained to judge the suitability of applicants.The main sources of recruitment are:
Internal promotion and internal introductions (at times desirable for morale purposes) Careers officers (and careers masters at schools) University appointment boards Agencies for the unemployed Advertising (often via agents for specialist posts) or the use of other local media (e.g. commercial radio)Where the organization does its own printed advertising it is useful if it has someidentifying logo as its trade mark for rapid attraction and it must take care not tooffend the sex, race, etc. antidiscrimination legislation either directly or indirectly.The form on which the applicant is to apply (personal appearance, letter ofapplication, completion of a form) will vary according to the posts vacant andnumbers to be recruited.It is very desirable in many jobs that claim about experience and statements aboutqualifications are thoroughly checked and that applicants unfailingly complete ahealth questionnaire (the latter is not necessarily injurious to the applicants‘ chanceof being appointed as firms are required to employ a percentage of disabledpeople).Before letters of appointment are sent any doubts about medical fitness or capacity(in employments where hygiene considerations are dominant) should be resolvedby requiring applicants to attend a medical examination. This is especially sowhere, as for example in the case of apprentices, the recruitment is for acontractual period or involves the firm in training costs.Interview can be carried out by individuals (e.g. supervisor or departmentalmanager), by panels of interviewers or in the form of sequential interviews bydifferent experts and can vary from a five minute chat to a process of several days.Ultimately personal skills in judgment are probably the most important, buttechniques to aid judgment include selection testing for: Aptitudes (particularly useful for school leavers) Attainments General intelligence(All of these need skilled testing and assessment.) In more senior posts othertechniques are: Leaderless groups Command exercises Group problem solving
(These are some common techniques - professional selection organizations oftenuse other techniques to aid in selection.)Training in interviewing and in appraising candidates is clearly essential to goodrecruitment. Largely the former consists of teaching interviewers how to draw outthe interviewee and the latter how to rate the candidates. For consistency (and as anaid to checking that) rating often consists of scoring candidates for experience,knowledge, physical/mental capabilities, intellectual levels, motivation,prospective potential, leadership abilities etc. (according to the needs of the post).Application of the normal curve of distribution to scoring eliminates freakjudgments.
RECRUITMENT ―The art of choosing men is not nearly as difficult as the art of enablingthose one has chosen to attain their full worth‖. Recruitment is the process by which organizations locate and attractindividuals to fill job vacancies. Most organizations have a continuing need torecruit new employees to replace those who leave or are promoted in order toacquire new skills and promote organizational growth. Recruitment follows HR planning and goes hand in hand with selectionprocess by which organizations evaluate the suitability of candidates. Withsuccessful recruiting to create a sizeable pool of candidates, even the most accurateselection system is of little useRecruiting begins when a vacancy occurs and the recruiter receives authorizationto 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: Creating an applicant pool using internal or external methods Evaluate candidates via selection Convince the candidate And finally make an offerScope: To define the process and flow of activities while recruiting, selecting andappointing personnel on the permanent rolls of an organization.Authorization:S.No. Authorized Signatory1 Head- Human resource2 Managing director
Amendments and deviations:Any amendments to and deviations from this policy can only be authorized by theHead-Human Resources and the Managing Director.Exclusions:The policy does not cover the detailed formalities involved after the candidatejoins the organization.
Sourcing Factory Rural & West Health South East North 1 North 2 AP WEST BENGAL PUNJAB MP MUMBAI NORTH EAST UP & UTTARANCHAL CHATTISGARH PAN India TAMIL KARNATAKA &MAHARASHTRA BIHAR HARAYANA RAJASTHAN GOA NADU JHARKHAND J&K GUJURAT KERALA Tied Agency Direct Marketing BANCA PC Health Assurance B & Health Retail Pharmacy Rural Agency Rural SA
AG EN C Y N O AG R EN TH C Y 0 20 40 60 80 100 120 140 160 180 200 A G EA EN ST C Y R U BA R N AL BU C SI A N BA EA ES N BU S C ST SI A N PA N R O ES S TN R TH PA ER R -E TN ER AS T -N H O ea R D TH lth M H As N EA su O LT ra R TH H H nc EA PH e LT AR -N H M or th PH AC PR Y SOURCE MIX – ALL FRONTLINES AR IO M EA R AC ST IT Y Y C N IR O C R LE TH W N O O R R KS THPGPMI ITCampus E EATalent@huntPinnacle BP RO STRecruitment ConsultantDirect Application Advertisement
RECRUITMENT PROCESSCV ScreeningCV screening checklist Age Educational Qualification Professional Experience Tenure Industrial Type Is the company from the certified list Nature of role DomicileJudgmental Scoring Model (JSM)Focuses on screening the job fit of a prospective candidate with past demographicanalysis: Age Educational Qualification Experience (tenure) Experience (industry) Source of recruitmentAgency Manager profile – JSM qualifying criteria : >7 (on a max. score of 20)
The organization philosophy should be kept in mind while formulating therecruitment procedure.The HR department would set the recruitment norms for the organization.However, the bonus of effective implementation and compliance with the processrests with the heads of the respective functions and departments who are involvedin the recruitment and selection process.The process is aimed at defining the series of activities that needs to be performedby different persons involved in the process of recruitment, the checks and controlmeasures to be adopted and information that has to be captured.Recruitment and Selection is conducted by: HR & Branch Manager Functional Head
RECRUITMENT PLANNINGRecruitment planning on the basis of budget A. 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. B. 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. C. 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.
D. 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 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: Existing database (active application data bank); Employee referral as per any company scheme that may be approved from time to time; Advertisement in the internet/newspapers/magazines/company‘s sites/job sites or any other media; Placement Agencies (particularly for positions of Managers and above); Headhunting firms particularly for senior positions, specialist positions and critical positions; Direct recruitment from campuses/academic institutes; Job websites and Any other appropriate sources. The norms for using any of the sources are not water tight. Number ofpositions, criticality of positions and the urgency of the positions, confidentialityrequirements, relative efficacy and cost considerations would play a role in thechoice of the appropriate sourcing mechanism.
ADVERTISEMENTS 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. The media for releasing advertisement would depend on the level of the position being considered and the urgency of the requirements. 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 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 candidatesFirst level screening The Candidates would be screened by the HR Manager/Branch Manager forthe respective locations. Screening would be on the basis of the profile of thecandidate and the departmental requirements.This assessment will be with respect to: a. The general profile of the candidate, b. Personality fit of the candidate into the profile, c. Aptitude/attitude of the candidate, d. Motives of the person to join the company and whether focus is in the short term or is a long term player, e. Basic skill level on our set of requirements, say numerically ability, networking ability, etc f. Establish the annual guaranteed cash compensation of the individual and check whether the person would fit into the system. g. 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 forfurther assessment process.Tied Agency Sales Manager candidates short listed by the BM appear for the finalselection. The regional Manager (Business Heads for HO) will meet the candidatesshort listed by the branch manager/VP. The chart specifying the Minimumapproval level for each level of recruitment is specified below:
Category Branch Area Business Managing Manager/Chief Manager/AVP/VP Heads Director ManagerCSE/ADVISORS Yes No No NoBIC Yes Yes No NoBM/CM Yes Yes Yes NoSM Yes Yes Yes YesGeneral Norms regarding interview Process: A. 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. B. 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.
C. 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. D. 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 A. 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. B. 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. C. 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 A. 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. B. 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 A. 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. Personal Data form Employee requisition form duly filled by the regional Head/Branch Manager Interview evaluation sheet filled by the regional head/Branch manager/interviewer with his/her comments. Latest and updated resume of the candidate Photocopy of the appointment letter of the last employer or latest salary slip. Employment details. Two Professional references. Language Proficiency.
B. Document check list for every grade is as follows: Authorization Release Form. Background check Form. Highest Education certificates. Highest Education marksheets. 12 Months Salary Slip of Current Employer. 2 Month Salary Slip of Last Employer. Relieving Letter of last Employment. Proof of Residence Photo Identification Proof 2 Passport Size Photograph.C. 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.D. 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.E. 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 fulfil 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.
F. 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.G. 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.H. 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 HeadRegional HR Head will have the authority and responsibility toadminister/implement the recruitment and selection process as outlined. Anillustrative list of the key deliverables of these incumbents is listed below. Ensuring inductions as per quality, numbers, time and cost consideration of the company in accordance with the approved manpower budget. Creation of appropriate sourcing mechanism along with tracking the performance of these mechanisms. Creation of quarterly and monthly recruitment plans 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 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 Assistance to user department and line managers including in interviewing/selection support, scheduling etc. 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. Creation and maintenance of qualitative information base regarding candidates, placement agencies, campuses, institutes, and any other employment-market information. 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.
Monitoring recruitment costs Complete documentation for the entire recruitment and selection process for easy and quick retrieval in a readily auditable format Timely and effective communication with all internal and external parties including the candidates 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. Effective coordination with the post recruitment arm of the Human Resource function Documentation and creating MIS regarding waiver, deviation, etc and identifying the key areas for improvement in the formal recruitment and selection process document.
Common selectionproblemsAchieving the three goals- accuracy, equity, buy -in –hinges on your ability toovercome the following selection problems. Review these problems:Interviewers miss important information. Interviewers focus only a few of theareas of critical to job success, overlooking many others. Therefore, they fail todevelop a complete picture of an applicant.Interviewers overlook job fit and organization fit. Interviewers tend to focus onthe skill aspects of the job and overlook candidates‘ likes and dislikes. Failure tojob fit and organization fit can lead to poor performance and early turnover .Interviewers ask illegal non -job related questions. These questions expose theorganization to lawsuits and might good candidates from protected groups ofdisadvantage.Interviewers’ coverage overlaps. Too much overlap is a waste of valuable time.As a result, candidates here the same question repeatedly, and the important areasreceive no coverage.Interviewers have not organized selection elements into a system. Without anorganized approach, different selection elements often are used in differentapplicants, putting some at disadvantage.Candidates are turned off by the selection process. When interviewers talk toomuch or are redundant, rude, or disorganized, there job offers are rejected,candidates seek employment elsewhere, and this effects the reputation of anorganization.Biases and stereotypes affect judgment. Some interviewers classify people into―stereotypes‖ . Because they often are unaware of these prejudicial tendencies,interviewers fail to realize the effect these have on the decisions.Interviewers take insufficient notes. Many interviewers never write downanything, on their memory, which can be inaccurate.
Interviewers misinterpret applicant information. Interviewers oftenmisinterpret data when they play ‗amateur psychologist‘ by guessing at themeaning behind an applicant‘s response. This leads them to attribute incorrectcharacteristics to candidates.Interviewers make snap decisions about applicants. Some interviewers makeselection decisions on the basis of hand shake on the initial meeting or after askingonly a few questions. Here a problem is, these early decisions influence subsequentdata gathering. Research indicates that organizations make better decisions whenthey delay selection decisions while continuing to collect data.Organizations rely exclusively on interviews. Interviews are excellent tool inselection system interviewers can obtain other critical information from sourcessuch as ―Paper and Pencil test, Simulations, and Reference check‖.Interviewers’ hiring discussions are not systematic. Interviewers who meet tomake the final decisions often share candidate data randomly critical informationfor decision making is lost, relationships between information never surface, andgaps in information about the person are never discovered.Interviewers allow one characteristics to influence their judgment.Interviewers occasionally fall victim to the ―Hallo Effect‖. This is when oneparticularly strong or weak candidate characteristic can influence an interviewer‘sjudgment about the person as whole.Pressure to fill the position affects judgment. As there are many pressures oninterviewer s to make selection decisions too often result in lower standards. Theyrationalize their decisions by saying they can train people or offset their limitationthrough close supervision.The accuracy and fairness of the targeted Selection systems are based on sixcomponents. They are as follows: 1. Focus interviews and selection procedures on job related information. 2. Organize the elements of your selection process into an efficient system. 3. Obtain specific Behavioural Information that can be used accurately to predict future behaviour .
4. Assess the motivational fit of candidates.5. Systematically share information about candidates in an organized data integration session.6. Make Legally Credible hiring decision.
1. Dimensions. Dimensions describe the knowledge, motivations, and Behaviors associated with success or failure in a job. The responsibility as targeted Selection Interviewer is to collect information about a candidate‘s: 1. Knowledge 2. Behaviors 3. MotivationsDuring Interviews these three dimensions help in collecting data. A dimension –basedInterviewing format focuses Questions on a particular knowledge, motivation andbehaviors important in the target job and eliminates unrelated questions.
Sales Team Member o Sales ability/persuasiveness Building strategic Working Relationships o Communication Job Fit o Job Fit Applied Learning o Planning and Organizing Decision Making o Energy Quality Orientation o Decision Making Initiating Action o Tenacity Contributing to Team Success o Negotiation Stress Tolerance o Initiating Action Communication o Impact Work StandardsProfessional/Knowledge Leader o Gaining CommitmentWorker o Planning and Organizing o Decision Making Technical/Professional o Aligning Performance for Success Knowledge and Skills o Job Fit o Stress Tolerance Planning and Organizing o Communication Adaptability o Delegating Responsibility Initiating Action o Meeting Leadership Job Fit o Information Monitoring Gaining Commitment o Building Successful Team Decision Making o Leading Through Vision and Values Applied Learning Building Strategic Working Relationship Continous Learning
2. The Selection SystemA Structured approach of the Information collected from interviews, simulations,and reference checks leads to an accurate hiring decision .The missing ingredient isa Selection System, a set of rules and procedures for taking applicant through theselection process.In targeted selection, ―system‖ refers to the uniformly applied, step by stepprocedure for collecting and evaluating information and making hiring decisions.This system provides an efficient method of collecting the necessary informationabout an applicant. It also ensures that hiring and rejection decision are fair for allapplicants.The Selection Funnel The figure represents a situation common in hiring organizations. The no. of applicants will exceed the no. of job openings. A good selection system—one that uses less expensive and faster methods early in the selection process and in depth , more expensive methods later when only the most promising candidate remains –allows an organization to evaluate a large no. of applicants efficiently and economically. Using this selection funnel maximizes the time spent and ensures fairness to all applicants. The selection system ―flow ―for the position ―BANK ACCOUNT OFFICER‖.
DATA ANALYSISTable 1.1 For most liking of your jobS.No. Training Programs Percentage (%)1 Growth 50%2 Job environment 20%3 Compensation 20%4 Empowerment 10% 10% 20% 50% 20% Growth Job environment Compensation EmpowermentINTRPRETATION:Growth for most of the employees is 50%, Job environment for most of the employees 20%,Compensation for the employees is 20% and Empowerment for the employees is 10%
Table 1.2 : For the answer of Is there is any freedom given in decision making and problem solvingS.No. Training Programs Percentage (%)1 Yes 20%2 No 10%3 Sometimes 50%4 Just as formality 20% 20% 20% 10% 50% Yes No Sometimes Just as formalityINTRPRETATION:Training programs freedom for decision making and problem solving for most of the employees isyes 20% no is 10%, sometimes is 50% and just a formality 20%.
Table1.3 of the company provide performance related incentive to employees ?S.No. Training Programs Percentage (%)1 Excellent 50%2 Fair 10%3 Average 20%4 Good 20% 20% 50% 20% 10% Excellent Fair Average Good INTERPRETATION: Company provide performance related incentives to the employees for excellent 50%, faie 10%, average 20% and good 20%.
Table 1.4 for the idea about the benefits provided by the company such as vocation, paid holidays, medical, retirementS.No. Training Programs Percentage (%)1 Excellent 60%2 Good 20%3 Fair 10%4 Poor 10% 10% 10% 20% 60% Excellent Good Fair PoorINTERPRETATION:Idea for the benefits provided by the company such as vocation, paid holidays, medical andretirement is excellent for 60%, good for 20%,Fair for 10% and poor for 20%.
Table 1.5 for work load is there in your company S.No. Training Programs Percentage (%) 1 Heavy 60% 2 Normal 20% 3 Good 10% 4 Over 10% 10% 10% 20% 60% Heavy Normal Good OverINTERPRETATION :The workload is heavy in your company is 60%, Normal is 20%, Good is 10% and over is 10%.
Table 1.6 for organization is sensitive to employees needS.No. Training Programs Percentage (%)1 Always 10%2 Usually 50%3 Sometimes 30%4 Never 10% 10% 10% 30% 50% Always Usually Sometimes Never INTERPRETATION : 10% Always organization is sensitive to employees need, 50% Usually, sometimes 30% and 10% never.
Table No. 1.7 for telling you the working environment of companyS.No. Training Programs Percentage (%)1 Excellent 15%2 Poor 10%3 Good 15%4 Fair 60% 15% 10% 60% 15% Excellent Poor Good FairINTERPRETATION :During the training, the working environment of company was excellent 15%, Poor 10%, Good 15%and Fair is 60%.
Table 1.8 for the growth related polices in your organizationS.No. Training Programs Percentage (%)1 Excellent 30%2 Poor 10%3 Good 10%4 Fair 50% 10% 30% 50% 10% Excellent Poor Fair Good INTERPRETATION : Excellent growth related polices in your organization is 30% Poor growth related polices in your organization is 10% Fair growth related polices in your organization is 50% Good growth related polices in your organization is 10%
Table 1.9 for the most likely reasons for leaving the jobS.No. Training Programs Percentage (%)1 Work Load 20%2 Unsatisfactory Compensation 10%3 Working environment 60%4 Slow Growth 10% 10% 20% 10% 60% Work load Unsatisfactory Compensation Working environment Slow growth INTERPRETATION : The most likely reasons for leaving the job workload 20%, Unsatisfactory compensation is 60% and slow growth is 10%.
Table 1.10 for your views on culture of your organizationS.No. Training Programs Percentage (%)1 Friendly 60%2 Non Friendly 10%3 Competitive 20%4 Dont know 10% 10% 20% 60% 10% Friendly Non friendly Competitive Dont know INTERPRETATION :Friendly culture of your organization is 60%, Non-Friendly is 10%, Competitive is 20% and Unknown10%.
InterpretationInsurance is confronted with high attrition rate. Therefore it makes recruitment acritical function in the organization. In order to grow and sustain in the competitiveenvironment it is important for an organization to continuously develop and bringout innovations in all it activities. It is only when organization is recognized for itsquality that it can build a stability with its customers. Thus an organization must beable to stand out in the crowd.The first step in this direction is to ensure competitive people come in theorganization. Therefore recruitment in this regard becomes an important function.The organization must constantly improvise in its recruitment process so that it isable to attract best in the industry in order to serve the best. Thus the organizationmust look out for methods that can enable it to adopt best recruitment practices.There is an increase in percentage of hiring from consultants and directapplications and decrease in the Pinnacle hiring. The comparison of the source mixof two hiring for the months of May-June and June-July has been shown below:Recruitment source May-June June-JulyAdvertisement 0 21Campus 55 18Direct Applications 58 88PGPMI 9 43Pinnacle 164 129Pinnacle BP 4 5Pinnacle RO 2 5Consultants 171 264Talent@Hunt 211 200Total 674 773
Ad ve 100 150 200 250 300 0 50 rti se m en t C amD pu ire c tA s pp lic at io ns PG PM I Pi nn ac le Pi nn ac le BP Pi nn ac le RO C on s ul ta n ts Ta le n t@ Hu n t June-July May-June
Limitations of the studyEvery task is undertaken with an objective and accomplishment of this objectivedetermines our success.Task:The recruitment at Metlife India Insurance Insurance involved a lot search from thedatabase and calling up candidates to check whether they fit the job specification.Difficulties: Candidates were reluctant to talk at times; Candidates who were contacted were not interested in Insurance on many occasions; Candidates who were scheduled for interview would not turn up; o 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 scheduledfor an interview.Difficulties: At times many people had for couple of hours to work on the computer; 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.
SWOT AnalysisStrengths WeaknessesBrand equity of Kotak Mahindra Pre assessment tests are costly.Bank. Conversion of footfalls is low.Rigorous Pre-Hiring assessment teststo understand aptitude and Lengthy pre-offer formalities.personality of candidates. Huge employee turnover.Proper reference checks to ensure thatonly bonafide candidates areappointed.Adequate number of channel partnersto generate footfalls for each location.Footfall MIS being maintained at eachbranch locally by Admin.Opportunities Threats Increasing number of privateCampus recruitments have huge players in insurance sector createspotential for fulfilling manpower ample choices, frequent and easyrequirements cost effectively. mobility for employees.Tie up with recruitment agencies on Same channel partners are handlingsupplying fixed number of footfalls all insurance companies. This leadsweek on week. to same pool of candidates being circulated to all partners.Develop exclusive contract withchannel partners to meet the Increasing spill over as a candidatemanpower requirements. has more than one offer at the time of making a job shift.Make blue form brief and to the point. As the insurance industry is small,Reduce turn around time of making senior level candidates hesitate toan offer. meet HR of other companies for the fear of grapevine.
LEARNINGSEvery endeavour undertaken to accomplish challenging goals, can only besuccessful under the experienced and encouraging guidance. I am privileged tohave undergone training at Metlife India Insurance Life Insurance. As learningnever stops, my learning at I.Pru has come from a lot of exposure, on the jobtraining and close interaction with the corporate. In brief my learning andachievements can be summarized as under: 1. Understanding of person and profile fit. 2. Convince people about the job profile and to sell the job to the prospective candidate; 3. Following up with the candidates during the entire selection process; 4. Learned to convince candidates about the offer rolled out and making them accept the offer through effective communication; 5. Learning about salary fitments. 6. Communicating with the corporate; 7. Performance appraisals, its various types, implications and significance; 8. Handling queries received from various quarters; 9. Managing HR department in the absence of HR manager; 10.Reply to official mails; 11.Prioritize issues according to their importance; 12.Field work exposure to tap candidates that further strengthened the learning.
RECOMMENDATIONS & SUGGESTIONS 1. Employers should be less biased about the recruitment of employees through employee referrals. 2 . Know what youre 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. 3. Reduce the pre offer formalities:Pre-offer documentation includes filling of a lengthy Personal Detail form whichincludes all personal, educational and professional details of candidate. This is verytime consuming and even after taking these details from candidate it‘s not sure thatoffer will be made or not. This also becomes frustrating for the candidatesometimes. So, it is recommended that unnecessary details should not be askedbefore we make the final offer to the candidate. PDF should be made concise. 4. 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. 5. 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. 6. Create winning impression even on those who are not selectedIt is very important to create a favourable impression of your organization on allthose who come for interview. Those who are not selected in the first round ofpersonal interview should also carry this impression that they have missed theopportunity to work in a great company. For this, there must a proper coordinationof the interview of the candidate and greater degree of professionalism. Acandidate when invited for an interview must be attended as soon as possible andshould be made to wait for hours together. Interviews conducted on a scheduledtime leave a good impression on the candidate. Even if he is not selected, a goodimpression about the will make him recommend the name to his people.At last, I want to say, if we keep those points in the mind thenwe can make a sound good recruitme nt & selection policy.
CONCLUSIONI find that generally all employees of the organization like the Recruitmentand Selection policy. The workers representation in management in theorganization is quite good. Employees are satisfied with their work so wecan say employee’s moral is high in the organization. High moral assists inthe management to overcome several problems such as labour turnover, aabsenteeism, indiscipline, grievances etc. it also helps seek co -operative ofthe workers in the running of the organization and thus getting higherproduction at minimum possible cost by reducing the wastage of time, man,machines and materials. It is in other sense, and index of good industrialrelations.There is proper selection in the organization, proper selection of thepersonnel reduces personnel problems in the organization as employeeturnover, absenteeism etc. employee relations are also better becausecustomers are full satisfied by their work.
QUESTIONNAIRENameA geP o s it io n 1 . R u le s o f r e c r u i tm e n t i . R ig i d i i . F le x ib le 2 . S o u r c e s o f r e c r u it m e n t i. A d ve r t is e m e n t ii. Co n s u l ta n c y i i i. P in n a c le iv. O t he r s 3 . R o u n d s ke p t f o r s e le c t in g c a n d id a t e s? - - - - - -- - - - -- - - - -- - - -- 4 . T y p e s o f c a n d id a t e s pr e f e r r e d b y th e o r ga n ? i. F r e s he r ii. E xpe r ie n c e i i i. B o th 5 . M i n im u m q u a lif ic a t io n o f c a n di da t e ? i. I n t e r m e d ia te ii. G r a du a t io n i i i. B e lo w o r a b o ve i t.
6 . M i n im u m a ge o f w o r ke r i. 1 8 to 22 ii. 2 2 to 28i i i. 2 8 to 32 7. How m u c h y e a r e x pe r ie n c e i s n e e de d f o r gr a de 1 ? i. 1 Year ii. 1 -2 Y e a r i i i. Mo r e Th a n 2 Y e a r s 8 . O r ie n ta t io n P r o gr a m . i. E xc e lle n t ii. Goodi i i. A ve r a ge 9 . T r a de u n io n in v o l ve d a n y le ve l in r e c r u i tm e n t p r o gr a m . i. Yes ii. No 1 0 . H o w m u c h t im e g i ve n to c a n di da te to pr e se n t h e r h i s do c u m e n ts r e c r u i t m e n t f o r t h e pr o f i le he is s e le c t e d ? i. 1 Week i i . 1 5 Da y s i i i. 1 5 -2 0 Da y s