The document contains basic features of human resource management and general policies formulated by almost every organisation for managing their human resources.

1. Human Resource Policy
COMPANY: TATA AIG
Humsi Singh | B.Com (HONORS) | 2018-2019

2. PAGE 1
Contents:
1. Introduction
2. Organizational Structure
3. Functions of HR
4. Sources of Recruitment
5. Selection Process
6. Types of Employees
7. Career Options
8. Compensation of Employees
9. Benefits Apart Salary
10. Measuring Employee Performance
11. Training and Development
12. Motivation of Employees
13. Recognition of Employees
14. Grievance Redressal
15. Employee Retention Strategy
16. Conclusion

3. PAGE 2
Introduction
 Human Resource Management
It comprises of three main segments. Human i.e. skilled workforce in an
organisation, resource i.e. limited availability and management i.e. maximization
or proper utilization of resources. So , by this we get Human Resource
Management is basically planning, organizing, direction and controlling of
procurement, development, compensation, integration, maintenance and
separation of human resource to the end that fulfill individual, organizational and
social goal.
 Human Resource Policies
Human resource policies are established by an organisation to support
administrative functions and manage the performance and resources of the
organisation. These are the formal rules and guidelines that a company makes to
hire, plan and manage these resources. These are systems of codified decisions
established by an organisation.
 TATA AIG Insurance company
Tata AIG is one of the leading insurance companies providing both life and general
insurance. It is a joint collaboration the American International Group, Inc.(AIG)
and Tata Group. They own the companies in the ratio 26:74.It is the leading
financial institution that created a niche for itself around the world. Tata AIG
General Insurance Company started its operations in January 2001. Mr. Gaurav D.
Garg is the Managing Director as well as the CEO of the company whereas, Tata
AIG Life Insurance Company started its operations from February 2001. Mr. Suresh
Mahalingam is the MD of the company.

4. PAGE 3
Organizational structure of Tata AIG
Functions of HR Manager
 Recruitment and Selection
 Induction
 Competence Development
 Providing compensation and other employment benefits
 Performance management
 Talent and Career Management
 Looking into Grievances of the employees
Sources of Recruitment
 Placement Agencies and Consultants
 Campus Recruitments
 Internal Job Postings
 Off-Campus recruitments
 Moving Across verticals
 Promotions
Selection Process
 Preliminary Tests
 Knowledge Tests
 Reference and background check
CEO
4 Zonal
Heads
Regional
head
Area or
Clustre
Head
Branch
Manager
Unit
Manager
Financial
Advisor

5. PAGE 4
 Interview
 Job Offer
 Medical Checkup
 Training and Development
Types of Employees
 Tata AIG has both permanent employees and employees on contract basis.
 Both are on the company pay roll.
 Company employs Financial Advisors who are not on payroll but on commission
basis.
Career Options at Tata AIG
 Sales and Distribution
 Customer Service
 Branch and Centralized operations
 Underwriting and Actuarial Functions
 Claims
 IT
 Marketing and Communication
 Financial and accounts
 Human Resources and Training and Development
Compensation of Employees
 Basic-30% of Annual Salary
 Bonus(yearly)
 HRA
 Medical Allowance
 Conveyance Allowance
 Other benefits (mobile phone bills, etc.)

6. PAGE 5
Benefits apart from Salary
 Medi-claim
 Performance Bonus
 Superannuation benefits
 Incentives
Measuring Employee Performance
 Goal Sheet
 Target Achievement
 Quality of work
 Ethics used in Target Achievement
 Customer satisfaction
Training and Development of the Employees
 On the Job Training
 Functional Programs
 Talent Acceleration programs
 Eligibility criteria and duration
 E-learning and institutional courses of Insurance in India
 Career Progression programs and Leadership Development Ladder
Motivation of Employees
 Motivational Training Programs
 Providing Incentives
 Recognition of Employees
 Sponsored holidays to employees and their families
 Helping them in converting a prospect into sale
 Special motivational programs
 Annual theme party
 World of Work(WOW)
 Town Hall

7. PAGE 6
Recognition to Employees
The Success Matrix is a program where they recognize the performance and
contribution of employees through timely measures. This was inspired by the
mythological theme of Greek Gods combined with the blockbuster "The Matrix.”
– consists of three categories for recognizing Individuals, Teams on a Monthly, Quarterly
& Annual basis as well as SPOT Recognition.
– Recipients are acknowledged for their contribution though Awards and citations
displayed on the "Wall of Fame" at all the branches.
Grievance Redressal
There is no proper grievance cell but they have a Disputes SettlementDepartment
within the organization which looks after settling issues among employees or any
complaints of the employees.
Employee Retention Strategy
 Career Progression Programs
 Various motivational measures and programs for employees as well as their family
members.
 Performance based appraisal
 Performance based work culture
 Provides work-life balance
Conclusion
Tata AIG offers exciting opportunities to learn, contribute and build careers. As a leading
name in the fast-paced insurance industry, they are constantly growing and are always in
search of bright talent across all levels. The Company's philosophy is strongly oriented to
developing talent through larger and more enriching assignments.They recognize
potential and consistent performance and their dynamic corporate culture can be
summed up as “Work hard, play hard”.

8. PAGE 7