The complete details of how Human Resources Management fuctions in HDFC LIFE company.

1. 2019-2020
International Institute Of professional Studies
ASSIGNMENT ON FUNCTIONS OF HUMAN RESOURCES MANAGEMENT IN HDFC LIFE
Submitted to :
MISS BRAHMJOT BAGGA
Submitted by :
UDHAM SINGH AHIRWAR
Roll no. – IM-2K18-111
MBA(MS) 5YRS,4thSEM

2. INTRODUCTION
 HDFC Life is one of the leading life insurance companies in India.
 HDFC LIFE offers a range of individual and group insurance solutions
that meet various needs such as Protection, Pension, Savings &
Investment, Health, Child and Women's plans
 HDFC Life has about 421 branches and presence in 980+ cities and
towns in India. The company has alsoestablished a liaison office in Dubai.
 HDFC Life distributes its products through a multi channel network
consisting of Insurance agents, Bankassurance partners (HDFC
Bank,Saraswat Bank, RBL Bank),Direct channel, Insurance Brokers &
Online Insurance Platform.

3. PRODUCTS OF HDFC LIFE

4. Human Resources Management
“Human resource management(HRM) is planning personnel needs; recruiting ,selecting,
training, and developing capable employees; placing them in productive work
environments; and rewarding their performance”.
Functions of HRM

5. HUMAN RESOURCES PLANNING
 To create a scalable 'supply' of talent to meet ever-changing
business needs
 To identify the right talent that would be naturally oriented to
succeed
 To recruit the right people at the right cost to meet business
deliverables
 There is a war for talent across all organizations. The essence of
gaining a competitive edge over industry peers is by hiring the ideal
candidate for the job.
The Talent Acquisition vertical at HDFC Life not only enables
hiring the best talent available, but also ensures that a supply of
talent is nurtured to meet the ever changing needs of the business
The Talent Acquisition policy :

6. TRAINING AND DEVELOPMENT
‘Facilitate capability development through enterprise
wide learning to meet strategic needs of the
organization.’
 Designs, develops and deploys org wide knowledge, skill and capability
improvement programs which impact business performance though a
strong and large in house team.
 Provides a unique learning environment to each employee to hone
their skills and capabilities through best in class online, blended and
classroom trainings.
 Enables assessments & certifications of the employees and
distributors on domain and functional knowledge and skills.
 The Multiple awards and recognitions for excellence and Best
Practices received by the L&D exemplify this.
In order to meet this objective the LEARN&DEVELOPMENT :

7. The objective of the PMS at HDFC Life is
 To provide a framework for assessment of goals/critical
incidences and create a visible, transparent and fair reward
system
 To enable a feedback mechanism which aligns individual
behavior with organizational goals
 To identify learning and developmental needs
 Therefore, while performance is given utmost importance
in the organization, we also ensure that the 'life' of the
organization remains vibrant and energetic, yet competitive.
CONTD ...

8. RECRUITMENT
HDFC Life is seeking innovative candidates to become a member of their employees
or to become part of the HDFC Life internship program.
Discover how you can apply for the HDFC Life recruitment process:
Online Application: Candidates may submit the online application form along with
their CV or begin the application process through an employee referral or recruiter.
Telephone Interview: Applicants may be called by an HR representative to begin
the screening process by discussing their CV, background information, and previous
work experience.
In-Person Interview: The final interview stage may contain several phases, either
consisting of one-on-one interviews or group interviews with other candidates.
Interviews may be conducted by a hiring manager, department heads, and other
various employers.
Assessment Tests: Candidates may be expected to perform certain assessment
exams which may require preparation beforehand.

9. HDFC LIFE Smart Achievers Interview Process

10. SELECTION
The applicants are selected using by using the following process in HDFC
LIFE :
 Screening the applicants CV’s to find the best fit for HDFC LIFE and
suitable candidate for the available job positions , INSURANCE
ADVISORS are selected only when they qualify IRDA Exam.
 Candidates who pass the screening criteria are invited for interview.
 Candidates who ace the interview attend the assessment centre.
 Successful candidates are called for a second interview.
 Now candidates who clear all the above processes are sent a job
letter and a contract.

11. Partnership for Business
As an organization HDFC Life has always been on the look out to
explore new channels for customer acquisition. HDFC Life is one of
the few insurance players to venture into sourcing of insurance
policies Online.Online channel has grown leaps and bounds and
today it is one of the fastest growing channels in HDFC Life.
Online team manages the buying platform , end to end fulfillment
& customer servicing through online integration and is responsible
for relationship with - Web Aggregators, Online brokers & other
financial websites.
Online partnership

12. PERFORMANCE APPRAISAL
 HDFC LIFE through its structured communication program,'Sparsh' ,
touches base at a level with employees wherein they are able to
connect to all aspects of their work and the organization.
 It is a town hall activity where the senior management of the
company interacts with all the employees Interpersonally on an ongoing
lasis thereby leading to greater motivation to perform better.

13. HOW SPARSH
WORKS Participation of more than 14000 employees every year
 The meet happens at four levels , Viz zonal , regional , territory managers ( TM)
and the branch spoke level
 Each meet is of four hours
 The meet is completed up to the last branch within 40 days of commencement of
the respective zonal communication meet
 A question and answer session of around one hour is held at the end of the meet
 In the last meeting around 60 questions were gathered on different topics which
were answered with the help of respective functional heads within one month of
aforesaid Meeting
 The program has lead to a greater sense of belonging for employees , they are
more engaged , which in turn , drives their motivation levels and productivity
 On a long term basis - the impact is measurable by the company ' s growth rate
with higher productivity