1. 1
A
PROJECT REPORT
ON
In partial fulfillment of
“STUDY OF RECRUITMENT & SELECTION POLICY IN IDBI
FEDERAL LIFE INSURANCE CO. LTD.”
SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF
DEGREE OF BACHELOR IN BUSINESS ADMINISTRATION (BBA)
BABASAHEBBHIMRAOAMBEDKAR BIHARUNIVERSITY, MUZAFFARPUR
SESSION – 2015-2018
M.D.D.M COLLEGE MUZAFFARPUR
Approved by NAAC Grade “B”.
PROJECT GUIDE
DR.JAYANTI KUMARI
(ResourcePerson
Dept.of BBA)
SUBMITTED BY
REEMA KUMARI
BBA VI th SEMESTER
Roll No. – 917
Reg. No.- 5337/2015
2. 2
DECLARATION
I, REEMA KUMARI Roll No. 917 of Bachelor of Business
Administration (BBA) of BRA Bihar University the undersigned hereby declare that the
Project Report entitled “ STUDY OF RECRUITMENT & SELECTION
POLICY IN IDBI FEDERAL LIFE INSURANCE CO. LTD. ” written and
submitted by me to the Matrix Business School Pune, in partial fulfillment of the requirements for the
awards of Bachelor of Business Administration (BBA) under guidance of Dr.Jayanti Kumari.
this is my original work and the conclusions drawn there in are based on the material collected by me.
Place:
Date: REEMAKUMARI
3. 3
GUIDE-CERTIFICATE
This is to certify that the Project Report entitled “STUDY OF RECRUITMENT & SELECTION
POLICY IN IDBI FEDERAL LIFE INSURANCE CO. LTD. ” which is being submitted here with for the
award of BACHELOROF BUSINESS ADMINISTRATION of BRA BIHAR UNIVERSITY in
the session year (2015-18) is the result of the original research work completed by REEMA
KUMARI under my supervision and guidance and to the best of my knowledge and belief the work
embodied in this Project Report has not formed earlier the basis for the award of any degree or similar
title of this or any other University or examining body.
Project Guide :
Dr.Jayanti Kumari
Date:
Place: MUZAFFARPUR
5. 5
ACKNOWLEDGEMENT
I take great pleasure to thank and acknowledgement the permission and allowance by
Mr. KRUPAL BHANSALI, BRANCH HEAD, IDBI FEDERAL LIFE
INSURANCE CO. LTD, PUNE REGION and his help and inspiration provided.
I extend a whole hearted thanks to .Mr. DEEPAK GOVITRIKAR., AREA AGENCY
HEAD under whom I worked and learned a lot and for enlightening me with their
knowledge and experience to grow with the corporate working.
Their guidance at every stage of the Project enabled me to successfully complete
this project which otherwise would not have been possible without their constant
encouragement and motivation, without the support it was not possible for me to
complete the report with fullest endeavor.
I would also like to extend my thanks to my College Faculty Member Dr.Jayanti
Kumari.
REEMA KUMARI
6. 6
TABLE OF CONTENT
Contents
Sr. No. Titles Page No.
1 Executive Summary 8
2 Objective of the study, Title of the projects 9-10
3 Profile ofthe Company 11-25
4 Research Methodology 31-34
5 Data presentation, Analysis & Interpretation 35-45
6 Findings And Suggestions 46-49
7 Conclusion 50
8 Annexure 51-53
A) Questionnaire
B) Bibliography
8. 8
Executive Summary
In today’s corporate and competitive world, I find that insurance sector has the maximum
growth potential as compared to the other sectors. Insurance has the maximum growth
rate of 70-80% while as FMCG sector has maximum 12-15% of growth rate. Despite
recession this sector has noticed a growth rate of around 35-40%. The growth potential
attracts individuals to enter this sector and IDBI-Federal Life Insurance Company Ltd
has given me the opportunity to get a peek of highly competitive and enhancing sector.
The awareness related to life insurance products in India, among the mass, is still very
low. The level is even lower in rural areas. Insurance is still considered as a tool for tax
planning only, even when companies have attached investment benefits to it.
The major factors affecting the purchase of an insurance product are trust, service,
product features and relationship with advisors. Firms like LIC are still favored only
because of being a government undertaking units. The concept of mis-selling has
paralyzed the sector itself. People find it hard to have faith in advisors. Their job is really
very hard. People are now getting aware of the various investment tools available in the
market. The masses in urban cities like Pune have started comparing the products. While
talking to different people, I found that their purchase decision was highly influenced by
their family and colleagues. They purchased the insurance products at the time when they
needed it most, which according to them was at the time of tax planning, whereas any
insurance product must be bought when the individual needs it least so that they can
actually calculate the amount of life cover they need and the type of investment they
want. They can spread awareness by organizing various camps, sending mails or
through free counseling for interested people.
10. 10
Chapter 2
OBJECTIVE OF THE STUDY
TITLE OF THE PROJECT
The project report titled “STUDY OF RECRUITMENT & SELECTION POLICY IN IDBI
FEDERAL LIFE INSURANCE CO. LTD.” has potential of further analysis.
OBJECTIVES OF THE STUDY
To study the “recruitment and selection policy followed in IDBI Federal Life
insurance company Ltd.
To study the various sources of recruitment followed in IDBI.
To learn what is the process of recruitment and selectionthat should be followed.
To search or headhunt people whose skills fits into the company values.
To induct outside with new perspective to lead the company.
11. 11
SCOPE OF THE STUDY
In this competitive world retaining the customers has become important part and
parcel of the business activity, since in this arena the people who adopt to changes
and new technologies will survive.
This study will help to understand customer need, preference and what they
require from the service station and this study will not only help me as a student
but it will also the IDBI FEDERAL LIFE INSURANCE COMPANY LIMITED
to improve its service standard.
13. 13
Chapter 3
COMPANY PROFILE
The project report titled “STUDY OF RECRUITMENT & SELECTION
POLICY IN IDBI FEDERALLIFE INSURANCE CO. LTD.”
History:
Type Joint Venture
Industry Life insurance
Founded March 2008
Headquarters Headquaters in Mumbai India
Key people Yogesh Agarwal, Chairman
G V Nageswara Rao, MD & CEO.
Products Individual Life Insurance, Group Insurance and Pension Plans
Employees 1,000 on-roll employees and 7,500 agents
Website Official Website.
Company Information
Full name IDBI Federal Life Insurance Co Ltd.
Legal Address 1st Floor, Trade view Building, Oasis Complex, Kamala City,
Pandurang Budhkar Marg, Lower Parel ( W ); Mumbai; Maharashtra; 400013
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Status: Non-Listed
Legal Form: Other non-liability limited
Operational Status: Operational
Financial Auditors: Dass Gupta & Associates (2010)
Tel: +91 22 2490 8109-10
Company Description:
IDBI Fortis Life Insurance Co Ltd, is a joint venture between three leading financial
conglomerates – India’s premier development and commercial bank, IDBI, India’s
leading private sector bank, Federal Bank and Europe’s premier Bank assurer, Fortis,
each of which enjoys a significant status in their respective business segments. In this
venture, IDBI owns 48% equity while Federal Bank and Fortis own 26% equity each.
IDBI Fortis launched its first set of products across India in.
Product of the Company:
1 BONDSURANCE
Get guaranteed return on your investment with life insurance IDBI Federal Bondsurance
Plan is designed for customers looking for guaranteed returns which will not get affected
by financial market conditions. It offers guaranteed return on investment along with life
insurance cover.
Investment in this Plan is eligible for deduction under Sec 80C of the Income Tax Act
and the maturity amount is tax-free under Sec 10(10D) of the Income Tax Act.
15. 15
If you are looking for a safe and steady approach to meet your dreams, you need a plan
that will give you steady and assured returns that are not dependant on market conditions.
IDBI Federal Bondsurance Plan is the ideal plan to beat the ups and downs around you.
2 WEALTHSURANCE
Wealthsurance plans combine wealth creation with insurance protection into one
powerful financial solution. Unlike other investment alternatives, it allows you to ensure
that your goals of wealth creation are achieved even in the event of serious illness,
accidents, disablement or death.
Insured Wealth Plans to grow wealth under a protective cover
Wealthsurance offers you Insured Wealth Plans. They allow you to create, build and
manage wealth by giving several choices and great flexibility so that your plan meets
your specific needs. You can decide how you wish to save so that it suits your savings
habit. You can choose how your money is invested so that you can grow wealth as per
your investment preferences. What is even better, Wealthsurance protects your wealth
plans with life insurance benefits so that your wealth-building efforts remain unaffected
in unforeseen events and your financial goals can still be achieved.
As a seasoned investor, you recognise the ability of the equity markets to build wealth
over the long term. But you also appreciate the fact that the growth potential of the
market comes with the accompanying risk of volatility…
HOMESURANCE
16. 16
Your new home is the fulfillment of a long-cherished dream. Only you know the careful
planning that went into its choice. And only you understand the hard work that went into
arranging the financing including the home loan. Truly, your home is your best gift to
your family. Just imagine what would happen, if due to an unfortunate event, you were
not around. The entire burden of your home loan would have to be borne by your family.
But you can ensure that they inherit a home and not a home loan. We understand the
importance of protecting your home loan and the powerful IDBI Federal Homesurance
Protection Plan can help you insure your home loan at a reasonable cost.
TERMSURANCE
Happiness & security for our family is something all of us strive to achieve. However,
there are times when you ask yourself - What if something were to happen to me? What
would happen to my loved ones? Have I secured my family financially so that they don’t
have to face life’s burdens? Different people have different needs and seek different
things from an insurance plan. Some look for a large cover option at a low cost, while
others seek return of premium on maturity of the policy. There are some who may want
their plan to keep in touch with inflation, while others may seek flexible premium
payment options.
INCOMESURANCE
Grow your Guaranteed Annual Income each time you pay premium Some goals cannot
be left to chance. Like educating your child, or planning for her marriage, or providing
financial security to a loved one, or ensuring a comfortable retirement income. Or you
may just want to ensure a future additional income stream.
17. 17
How can you be confident of achieving these goals?
1. You need a plan that allows you to save regularly to reach your objective
2. You want the plan to give you assured income payments that are not dependent upon
vagaries such as the stock market
3. You want the plan to work and your goals to be achieved even if anything happens to
you
A cover for all your needs
Independent regular income for your wife
You can ensure that your wife is secured with an independent income. You can also
ensure that no one, including creditors or claimants, can touch that money.
Financial securityfor your parents
What better gift can you give your parents when you start earning yourself? You can gift
them a secure, regular income to ensure a comfortable life. Regular income payments can
help them enjoy their senior years doing things they had always wanted to but never
found the time for.
Child's Education
You can save regularly and get guaranteed payouts to meet your child's education. You
can be rest assured that your goal will be achieved even if anything were to happen to
you.
18. 18
Daughter’s Marriage You can withdraw your guaranteed income when the time
comes for marriage. You can meet the wedding expenses or give her a regular income. It
is the best present you can give when she is setting up her home.
Get additional income from time to time
Over and above your normal income, IDBI Federal Incomesuranc Endowment & Money
Back Plan can help you get additional income from time to time. You can indulge in a
purchase of your choice, take a vacation or just gift it to your loved ones, the choice is
yours. At the same time, you can also ensure life insurance protection for your family's
security.
RETIRESURANCE
It is difficult to predict the future but with more of us living longer, the possibility of
outliving our savings could become a harsh reality. In fact, you could easily spend almost
20-25% of your life in retirement. This is the time in your life when you will face the
retirement challenge. As time goes by, your responsibilities grow as well, increasing your
expenses. Also let’s not forget the effect of inflation. Inflation increases the cost of living.
Take the following increases in basic amenities over the last 20 years and you can
understand what you could be up against after 20 years.
19. 19
These are approximate rates based on market sources and are presented for illustrative
purposes only
But when is a good time to start planning for retirement?
The answer is as soon as you can. It is never too early to plan ahead for something as
important as a comfortable retirement. The earlier you start, bigger your corpus or
your retirement.
LOANSURANCE
Loansurance is a cost-effective way to ensure that the outstanding debt is settled in the
unfortunate event of death of the insured member. This term assurance plan provides
cover to a person directly liable for loan repayment (and the partners, in case of a
partnership), as per the benefit schedule.
Reducing cover
Under this option, your insurance cover reduces as per your benefit schedule. The benefit
schedule is computed over a period of time, taking into account initial loan interest rate,
the loan term and outstanding loan amount.
Level Cover
The level cover option of Loansurance provides a cover for the sum insured as specified
by the insured member and can be to the extent of the full agreed loan amount plus
accrued interest as chosen by the insured member.
21. 21
Chapter 4
Literature Review
MEANING OF HUMAN RESORCE MANAGEMENT
Human Resource plays a crucial role in the development process of the modern economics.
“There are great differences in development between countries which seem to have
roughly equal resources, so it is necessary to enquire into the difference in human
behaviors”
ARTHUR LEWIS -
Human resource management is the management of employee’s skill, knowledge abilities, talent,
aptitude, creativity, ability etc. different terms are used for denoting Human Resource
Management. They are labor management, labor administration, labor management relationship,
employee –employer relationship, industrial relationship, human capital management, human
assent management etc. Though these terms can be used differently widely, the basic nature of
distinction lies in the scope or coverage and evolutionary stage. In simple since, human resource
management means employing people, developing their resources, utilizing, maintaining and
compensating their services in tune with the job and organizational requirements.
23. 23
Recruitment:
Recruitment is “hiring” of employees from outside. Recruitment has been regarded as the most
important function of the HR department , because unless the right type of people are hired, even
the best plans, organization chart and control system would not do much good.
Recruitment is the discovering of potential applicant for actual or anticipated organizational
vacancies. Accordingly the purpose of recruitment is to locate sources of manpower to meet the
job requirements and job specification.
It is defined as „ a process to discover the sources of manpower to meet the requirements of
staffing schedule and to apply effective measures for attracting the manpower to adequate
number to facilitate effective selection of an effective workforce‟
Yoder points out that recruitment is a process to discover the sources of manpower to meet the
requirement of the staffing schedule and to employee effective measures to attracting that
manpower in adequate number to facilitate effective selection of an effective workforce.
Edwin B Flippo defines recruitment as „the process of searching for prospective employees and
stimulating them to apply for the jobs in the organization.‟
“It is the process of finding and attracting capable applicants for employment. The process
begins when new recruits are sought and ends when their application are submitted. The result is
a pool of applicants from which new employees are selected.”
24. 24
Methods of Recruitment
Dunn and Stephens summaries the possible recruiting methods into three categories, namely
1: Direct method
2: Indirect method
3: Third party method
DIRECT METHOD
The direct method includes sending of the recruiters to different educational and professional
institutions, employees contact with public, and mannered exhibits. One of the widely used
methods is sending the recruiters to different colleges and technical schools. This is mainly done
with the cooperation of the placement office of the college. Sometimes, firms directly solicit
information form the concerned professors about student with an outstanding records.
Other direct methods include sending recruiters to conventions and seminars, setting up exhibits
at fairs, and using mobile offices to go the desired centers.
INDIRECT METHOD
Indirect method involves mainly advertising in newspapers, on the radios, in trade and
professional journals, technical magazines and brochures.
Local newspaper can be good sources of blue collar workers, clerical employees, and lower level
administrative employees.
The main point is that the higher the position in the organization the more dispersed
advertisement is likely to be. The search for the top executive might include advertisement in a
national periodical, whereas the advertisement of the blue color jobs usually confine to the daily
newspaper.
25. 25
According to the Advertisement tactic and strategy in personnel Recruitment, three main
points need to be borne in the mind before an advertisement in inserted.
First, to visualize the type of applicants one is trying to recruit.
Second, to write out a list of advantages the company offers, or why should the reader join the
company.
Third, to decide where to run the advertisement , not only in which area, but also in which
newspaper having a local, state or a nation- wide circulation.
THRID PARTY
These include the use of commercial or private employment agencies, state agencies, and
placement offices of schools colleges and professional associations recruiting firms, management
consulting firms, indoctrination seminars for college professors, and friends and relatives.
Private employment agencies are the most widely used sources. They charge a small fee from the
applicant. They specialize in specific occupation; general office help, salesmen, technical
workers, accountant, computer staff, engineers and executives.
Schools and colleges offer opportunities for recruiting their student. They operate placement
services where complete bidet and other particular of the student are available.
Professional organization or recruiting firms maintain complete information records about
employed executive. These firms maintain complete information records about employed
executives. These firms are looked upon as the „head hunters‟ , „raiders‟, and „pirates‟ by
organization which loose their personnel through their efforts.
Evaluation of the recruitment method
The following are the evaluation of the recruitment method
1: Number of initial enquires received which resulted in completed application forms
2: Number of candidates recruited.
26. 26
3: Number of candidates retained in the organization after six months.
4: Number of candidates at various stages of the recruitment and selection process, especially
those short listed.
MY JOB AT IDBI FEDERAL LIFE INSURANCE
I started my job as HR Trainee. My job profile was to handle RECRUITMENT in my project.
The senior sales manager narrated me the whole procedure. My job profile was to generate
resumes from the various job sites such as Naukri.com, Timesjobs.com etc. according to the
requirements of the company. After generating the resumes from the sites the next step is to
shortlist the resume which best suite the requirements.
Now the short-listed candidates have to be given a phone call in order to find out their interests
and schedule them for interview. There are 2 forms of interview that a candidate can appear for:
Personal Interview.
Telephonic Interview.
PERSONAL INTERVIEW
This is regarded to be the BEST FORM of interview. In such form of an interview the candidate
personally appears in front of the interviewer and gives his interview. This is regarded to be the
best form of interview as the interviewee has the best chances of making his points clear in front
of the interviewer.
27. 27
TELEPHONIC INTERVIEW
Sometimes an interview is taken on the phone. A telephonic conversation is done between the
interviewer and the interviewee where the interviewer calls up the candidate via phone and
conducts the interview
The Job profile
Selling insurance and building customer relations.
Qualification
Entry level opening:
Graduates in any stream preferred can be. 10th or 12th standard pass, according to the irda
stipulation, depending on region of operation. Additional communication skills and ability to
interact with people will help.
Middle level opening:
Professional in finance or marketing with the experience in service industry. (As asst sales
manager)
Senior sales openings:
Senior professional with experience of handling junior staff preferred (CEP/Senior consultant
29. 29
Chapter 4
RESEARCH METHODOLOGY
Business research is a systematic enquiry that provides information to guide
business decision and aimed to solve managerial problems. Business research
is of recent origin and it is largely supported by business organizations that
hopes to achieve competitive advantages Research Methodology i s a w a y t o
s y s t e m a t i c a l l y s o l v e t h e p r o b l e m s . I t m a y b e understood as a
science of studying how research is done scientifically. It include the overall research
design, the sampling procedure, data collectionmethod and
analysis procedure.
DESCRIPTIVE RESEARCH
Descriptive research study includes surveys and fact-finding enquires of different kinds,
which help the researchers to describe the present situation that makes the analysis
about15
the effectiveness of employee satisfaction among the employees and helps to reach the
objective.
SAMPLING DESIGN/TECHNIQUES:
30. 30
Sampling design is to clearly define set of objective, technically called the universe to
bestudied. This research has infinite set of universe and the sampling design
used in the study is non-probability sampling – convenience sampling.
SAMPLE UNIT/SAMPLE SIZE:
The item selected from the population constitutes the sample size. The study covers the
customers of IDBI federal life insurance company. Total sample size for the study is 50.
LIMITATIONS OF THE STUDY
This study was conducted with less sample size due to time constrainta n d t h e
s u r v e y w a s c o n d u c t e d o n l y i n P u n e , s o t h e r e s e a r c h findings may not
be generalized.
Some of the customers are reluctant to give full information, this leads to bias & may not
reflect the true picture.
Th e o bs e r vat i o n s are onl y based on c ur r e nt s c e nar i o , as it
could change in future.
RESEARCH PROCESS
The research process has four distinct yet interrelated steps for research analysis it has a
logical and hierarchical ordering:
31. 31
Determination of information research problem.
Development of appropriate research design.
Execution of research design.
Communication of results.
Each step is viewed as a separate process that includes a combination of task, step and
specific procedure. The steps undertake are logical, objective, systematic, reliable, valid,
impersonal and ongoing.
SAMPLE SIZE:
The sample size was: 50 respondents.
I have targeted 50 customer in the age group above 21 years for the purpose of the
research. The target population influences the sample size. The target population
represents the Pune City regions. The people were from different professional
backgrounds. The details of our sample are explained in chapter named primary research
where the divisions are explained in demographics section.
Sources Data Collection Methods:
Primary Data:
Primary data was collected through survey method by distributing questionnaires to
branch manager and other sales manager. The questionnaires were carefully designed by
taking into account the parameters of my study.
32. 32
Secondary Data:
Data was collected from books, magazines, web sites, going through the records of the
organisation, etc. It is the data which has been collected by individual or someone else for
the purpose of other than those of our particular research study.
SAMPLING PLAN:-
Sampling Size: Unit was also 50 respondents of IDBI Federal Life Insurance Company
Limited.
Work area: Pune City In Karve Road, Deccan, Kothrud Areas
Sampling type: Cluster sampling
Sampling unit: Individual owners of Insurance Company
Sample Technique: Stratified random sampling .
34. 34
Interview Prefer
Personal Interviews Telephonic Interview Video Confrencing Other
10%
20% 40%
30%
Chapter 4
Data presentation, Analysis & Interpretation
Q 1. What form of interview did you prefer?
Factor No. of Respondent (%. of Respondent )
Personal Interviews 20 40%
Telephonic interview 15 30%
Video Conferencing 10 20%
Other 5 10%
Total 50 100%
Interpretation:
40% most of the people Prefer Personal interviews, 30% prefer to take telephonic
interviews where as only 20% go for video conferencing and rest 10% adopt some other
means of interviews.
35. 35
Rate the HR practices of the company
Average
14%
Bad
10%
Very Good
46%
Good
30%
Q 2 How do you rate the HR practices of the company?
Factor No. of Respondent (%. of Respondent )
Very Good 23 46%
Good 15 30%
Average 7 14%
Bad 5 10%
Total 50 100%
Interpretation:
30% of the respondents feel that HR department is good where and 46% say that its very
good where as 14% says its average and only 10% respondents feel it’s bad.
36. 36
Rating for induction
Can’t say,10
Good , 36 Very good, 54
Q3 How is the induction carried out by the IDBI Federal?
Factor No. of Respondent (%. of Respondent )
Good 18 36%
Very good 27 54%
Can’t say 5 10%
Total 50 100%
Interpretation:
From the above chart it shows that the 54% respondents say very good, 36% respondents say
good and 10% respondents say can’t say for induction carry out from IDBI Federal.
37. 37
Sources for Recruitment and Selection
Internal
12%
Both
62%
External
26%
Q 4 What are the sources do you preferred for recruitment and selection?
Factor No. of Respondent (%. of Respondent )
Internal 6 12%
External 13 26%
Both 31 62%
Total 50 100%
Interpretation:
About 62% of the respondents say that they prefer both internal as well as external source
for recruitment and selection where as only 12% go for internal source and 26% go for
external sources.
38. 38
Mostly Prefer for Recruitment and
Selection Method
70 Direct, 66
60
50
40
Indirect,30
30
20
10 Third Party, 4
0
Direct Indirect Third Party
Q 5 Which method do you mostly prefer for recruitment and selection?
Factor No. of Respondent (%. of Respondent )
Direct 33 66%
Indirect 15 30%
Third Party 2 4%
Total 50 100%
Interpretation:
About 66% of the respondents go for direct recruitment and selectionand 30% go for
Indirect and only 4 % go for third party recruitment way.
39. 39
Prefer to go for Manpower planning
60
50
40
30
20
Prefer to go for Manpower
planning
10
0
Yearly No fixed
time
Quaterly
Q 6 When do you prefer to go for manpower planning recruitment?
Factor No. of Respondent (%. of Respondent )
Yearly 10 20%
Quarterly 25 50%
No fixed Time 15 30%
Total 50 100%
Interpretation:
In the above chart it shows that 50% of the respondents prefer for Quarterly manpower planning
and 30 % do not follow any pattern they don’t have any fixed time where as 20% go for yearly.
40. 40
Satisfied by the services
90
80
70
60
50
40
30
20
10
0
80
Satisfied by the services
15
5
Satisfied Very Much Not
Satisfied Satisfied
Q 7 Are you satisfied by the services provided by the IDBI Federal Life Insurance?
Factor No. of Respondent (%. of Respondent )
Satisfied 7 14%
Very Much Satisfied 40 80%
Not Satisfied 3 6%
Total 50 100%
Interpretation:
The study reveals that in IDBI 80% of the respondents are very much satisfied & 14% are
satisfied & 6% of the employees are not satisfied from services provided.
41. 41
Computer Facility
Satisfied Not Satisfied Can’t say
6% 4% 0%
90%
Q 8. Computer facility is provided to all the employees of the recruitment department?
Factor No. of Respondent (%. of Respondent )
Satisfied 45 90%
Not Satisfied 3 6%
Can’t say 2 4%
Total 50 100%
Interpretation:
42. 42
Internal Control
YES NO
16%
84%
The study reveals that in IDBI 90% of the respondents preferred computer facility
it provided to all the employee of this department. 6% of the respondents are
satisfied and 4% of the respondents are not satisfied from this facility.
Q 9. The recruitment and selection procedures support internal control of IDBI Federal
Life Insurance.
Factor No. of Respondent (%. of Respondent )
Yes 42 84%
No 8 16%
Total 50 100%
Interpretation:
43. 43
sources for externalrecruitment
Casual
applicants,8
Data bank, 24
Campus
interviews, 34
Placement
agencies,34
From the above chart it shows that 84% of the respondents say yes and 16% of the
respondents say no for recruitment and selectionprocedures support internal control
Q10. What are the sources for external recruitment are preferred?
Sources No. of Respondents % of Respondents
Campus interview 17 34%
Placement Agencies 17 34%
Data bank 12 24%
Causal Applicants 4 8
Total 50 100%
Interpretation:
44. 44
From the above chart it shows that 34% of the respondents say campus interview, again
34% say placement agencies, 24% of the respondents say data bank and 8% of the
respondents say casual applicants .
Chapter 5
Findings and
Suggestions
45. 45
Chapter 5
Findings and Suggestions
FINDINGS:
From the above analysis of IDBI Federal I found that
40%most of customer prefer personal interview, 30% prefer to take telephonic
interviews where as 20 % go for video conferencing and rest 10% adopt some
other means.
The study reveals that in IDBI 30% of the people feel the HR department is good
and 45%say that it’s very good.
The study reveals that 61% of the recruitment policy and procedures support
internal control.
It is founded that 66% of the people prefer direct recruitment.
In IDBI Federal 32% managers go for campus interviews and 40%go for
placement agencies.
46. 46
80% of the adequate satisfied with IDBI service .
61% of the managers they preferred internal source of recruitment.
Now 50% of the people go for quarterly manpower planning. And 20% do not
follow any pattern.
From the above study I found that 90% of the computer facility is provided to the
employees.
Only 40% of the customer satisfied with carrer in insurance advisor ship.
SUGGESTIONS:
Following are suggestions made for the benefits and augmentation of the sound working
of the.
Company - IDBI Federal Life Insurance Co. Ltd.:
The work of receiving, issuing, accounting and stoiing responisibilty should
be properly.
Segeregated so that it will increase the productivity of the organization.
All the documents should be verified timely by the operation department.
All the policies should be updated time to time according to the company's
requirement.
Proper trainer should be provided to the trainees.
48. 48
CONCLUSION
Summer training is a best example for a trainee to learn about the company working,
corporate culture under which he is operating the functions. IDBI Federal Life Insurance
Co. Ltd.
is a life insurance company under which I gained a significant knowledge with respect to
life
insurance, its importance and applicability as well as undertook the task to recriuit
Insurance
Advisors which is conductive for the company to grow with more prosperity. What I
taught in
the management institute utilized them fiuitfully leading to the best advantage to the
company
and to the best experience for mine. At far I can conclude that life insurance is a noble
service.
which is very important for every citizen to leain and realize its importance because this
is the
49. 49
only source which can remain the status where one is with the family bread eainer and
ever when
he is not. With the growing financial sector I would like to choose this industry for my
future
career advancement and as an opportunity to service this industry.
QUESTIONNAIRE
ANNEXURE
50. 50
QUESTIONNAIRE
ANNEXURE
a) Name ………………….. b) Occupation ………………………………..
c) Age …………………….. d) Income…………………………………….
e) Address:-………………………………………………………………………….
Q 1. What form of interview did you prefer?
A) Personal Interviews
B) Telephonic interview
C) Video Conferencing
D) Other
Q 2 How do you rate the HR practices of the company?
A) Very Good
B) Good
C) Average
D) Bad
51. 51
Q3 How is the induction carried out by the IDBI Federal?
A) Very Good
B) Good
C) Can’t Say
Q 4 What are the sources for recruitment and selection?
A) Internal
B) External
C) Both
Q 5 Which method do you mostly prefer for recruitment and selectionPreferredway of
recruitment ?
A) Direct
B) Indirect
C) Third Party
Q 6 When do you prefer to go for manpower planning ?
A) Yearly
B) Quarterly
C) No fixed Time
52. 52
Q 7 Are you satisfied by the services provided by the IDBI Federal Life Insurance?
A) Satisfied
B) Very Much Satisfied
C) Not Satisfied
Q 8. Computer facility is provided to all the employees of the recruitment department?
A) Satisfied
B) Not Satisfied
C) Can’t Say
Q 9 The recruitment and selectionprocedures support internal control of IDBI Federal
Life Insurance.
A) Yes
B) No
Q 10 What are the sources for external recruitment are.
A) Campus interviews
B) Placement agencies
C) Data bank
D) Casual applicants
