58979181 Mba Project Siri

A DISSERTATION REPORT ON

“AN ANALYTICAL STUDY OF RECRUITMENT AND SELECTION PROCESS”
At Bharti AXA Life Insurance Submitted to Jawaharlal Nehru Technological University in artial fulfillment of the !e"uirement for MASTER OF BUSINESS ADMINISTRATION Under the #uidance of Mr. Imran Mohammed Agency $anager Bharti AXA Life Insurance Ban&ara (ills% By Shirisha%) (Reg No 098G1E0047) $s% #iri&a Assistant 'rofessor

1

Malla Re

y I!"t#t$te o% B$"#!e"" Ma!age&e!t 'NTU

CERTIFICATE

This is to certify that the )issertation Titled *An analytical study of !ecruitment + Selection at Bharti AXA Life Insurance%, is based on an -riginal 'ro&ect Study conducted by Ms. Shirisha’ S of I. semester $BA 'rogramme under the #uidance of Ms. Girija This dissertation is based on original !esearch and has not formed basis for the award of any other )egree/)i loma by Jawaharlal Nehru Technological University 011230144%

5$s% #iri&a6 Assistant professor

0

CERTIFICATE

T(#" #" to )e*t#%y t(at t(e D#""e*tat#o! e!t#tle “ An analytical study of !ecruitment and Selection 'rocess,
Underta7en At Bharti AXA Life Insurance 5Ban&ara (ills6 Submitted in 'artial 8ulfillment of the !e"uirement for the Award of the )egree of $aster of Business Administration9 Is a Bonafide wor7 carried out by Shirisha%) !eg No 12:#4;11<=

By $r% Imran $ohammed Agency $anager

>

STUDENT DECLARATION

I hereby declare that the Project Report or the )ISS;!TATI-N entitled

*An analytical study of !ecruitment and Selection 'rocess, Underta7en at Bharti AXA Life Insurance Under the #uidance of
Mr. Imran Mohammed Agency $anager Bharti AXA Life Insurance Ban&ara (ills% Ms. Girija Assistant 'rofessor $!IB$ $aisammaguda%

Submitted in artial fulfillment of the !e"uirement for the award of the )egree of $aster of Business Administration9 to Jawaharlal Nehru Technological University Is the result of my own effort and has not been submitted to any other institution for the award of any degree

)ate?

5Shirisha.D)

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ACKNOWLEDGEMENT

I am leased to record my gratitude and sincere than7s to my guide $s% #iri&a guide9 $!IB$ for her sincere guidance and valuable assistance for com leting this re ort%

I would li7e to e@ ress my sincere than7s to $r% Imran $ohammed Agency $anager of Bharti AXA Life Insurance for guiding me to com lete this ro&ect successfully%

I also ta7e this moment to e@ ress my gratitude to $r% !ama Arishna9 'rinci al 5$!IB$6%

I am also indebted to my arents and friends for their su successfully%

ort for com leting this ro&ect

B

TABLE OF CONTENTS

S.no 4% 0 > < B D = : 2 41 44 40 4> 4< 4B 4D

Particulars Title 'age #uide letter Com any letter Student )eclaration Ac7nowledgements Contents of 'ro&ect ;@ecutive Summary Introduction to the to ic $ethodology !eview of literature Com any 'rofile )ata analysis 8indings and Conclusions Suggestions Bibliogra hy A endices

Pa e no

D

EXECUTIVE SUMMARY

The ro&ect is about !ecruitment and Selection of Bharti AXA Life Insurance% The ro&ect was underta7en by me and the entire tas7 was divided into sub3tas7s% The rocess started from identifying the need9 then advertising the same to ros ective individuals by distribution of am hlets9 holding various activities in residential areas etc% then individuals were surveyed% The "uestionnaire was designed in such a manner that it gave a general idea about the ability and ca ability of res ondent as a ros ective life insurance advisor% Certain scores were allotted de ending on the answers given by the res ondent% Those who were high on the scores were motivated to visit the office for conduction of their interview% After the successful com letion of interview individuals were informed if they were selected for training of Life advisors% They were as7ed to fill the NAA8 form and a fee was collected from them along with their hotogra hs% After successful com letion of training an e@am was conducted and those who "ualified the e@am were selected as life advisors%

The ro&ect re ort submitted here covers theory on recruitment and Selection9 flowchart of activities underta7en for recruitment data analysis of the survey and a list of suggestions and recommendations for the com any at the end of the entire study%

=

!"AP#$R %

INTRODUCTION TO THE TOPIC

INTRODUCTION

The human resources are the most im ortant assets of an organiEation% The success or failure of an organiEation is largely de endent on the caliber of the eo le wor7ing therein% Fithout ositive and creative contributions from eo le9 organiEations cannot rogress and ros er% In order to achieve the goals or the activities of an organiEation9 therefore9 they need to recruit eo le with re"uisite s7ills9 "ualifications and e@ erience% Fhile doing so9 they have to 7ee the resent as well as the future re"uirements of the organiEation in mind%

!ecruitment is distinct from ;m loyment and Selection% -nce the re"uired number and 7ind of human resources are determined9 the management has to find the laces where the re"uired human resources are/will be available and also find the means of attracting them towards the organiEation before selecting suitable candidates for &obs% All this rocess is generally 7nown as recruitment% Some eo le use the term *!ecruitment, for em loyment% These two are not one and the same%

!ecruitment is only one of the ste s in the entire em loyment rocess% Some others use the term recruitment for selection% These are not the same either% Technically s ea7ing9 the function of recruitment recedes the selection function and it includes only finding9 develo ing the sources of ros ective em loyees and attracting them to a ly for &obs in an organiEation9 whereas the selection is the rocess of finding out the most

suitable candidate to the &ob out of the candidates attracted 5i%e%9 recruited6%8ormal definition of recruitment would give clear cut idea about the function of recruitment%

:

DEFINITIONS

!ecruitment is defined as9 *a rocess to discover the sources of man ower to meet the re"uirements of the staffing schedule and to em loy effective measures for attracting that man ower in ade"uate numbers to facilitate effective selection of an efficient wor7force%, ;dwin B% 8li o defined recruitment as *the rocess of searching for ros ective em loyees and stimulating them to a ly for &obs in the organiEation%, !ecruitment is a Glin7ing functionH3&oining together those with &obs to fill and those see7ing &obs%

!ecruitment and selection are two of the most im ortant functions of ersonnel management% !ecruitment recedes selection and hel s in selecting a right candidate% !ecruitment is a rocess to discover the sources of man ower to meet the re"uirement of the staffing schedule and to em loy effective measures for attracting that man ower in ade"uate numbers to facilitate effective selection of efficient ersonnel%

;very organiEation needs to loo7 after recruitment and selection in the initial eriod and thereafter as and when additional man ower is re"uired due to e@ ansion and develo ment of business activities%

NEED FOR THE STUDY

• Shortage of s7ills%
S7ills and 7nowledge eo le are always on short su em loyees% ly% Alternatively they are too costly

to hire from outside% The best alternative is to im rove s7ill and 7nowledge of e@isting

• Technological -bsolescence%
#rowth of technology ta7es laces very fast% This will render current technology obsolete in the future% There is a great need to u grade technology% This needs suitable training%

• 'ersonal -bsolescence%
At the time recruitment em loyees ossess certain of 7nowledge and s7ill% As time asses 7nowledge becomes obsolete9 unless it is u dated by ro er training% This ha ens because of changes ta7ing lace in roduct technology9 roduction methods9 rocurement

of better machines9 setting u of modern roduction lines9 introduction of modern method of su ervision and information rocessing through $IS and ;)-%

• -rganiEation -bsolescence%
$odern management has introduced a number of innovative ste s in functions of management li7e lanning9 organiEing9 controlling9 coordinating and directing% -rganiEation which is im ervious to such changes is bound to fail and become obsolete%

• U grading Ability of Threshold wor7ers%
'ublic olicy rovides reservation to disadvantaged sections of the society li7e handica ed9 minorities and de endents of deceased wor7ers etc% All these are threshold wor7ers having less than minimum rescribed level of 7nowledge and s7ill% They re"uire e@tensive training to bring them u to the minimum level of erformance standard%

• Coercive training by government%
In order to rovide better em loyability chances of unem loyed youth9 certain governments ta7en initiative to mobiliEe resources available at ubic/government and rivate sectors to outside candidates% -ne such e@am le is the *A reimbursed by government% rentice Training, conducted by govt% of India% 'arts of e@ enditure incurred for this by rivate sectors are

• (uman ca ital

The latest thin7ing is to treat em loyees as *human ca ital,% The e@ enditure involved is training and develo ments are now being considered as an investment%

OBJECTIVES

•

(ow to recruit agents for Bharti3AXA Life Insurance Com any%

•

To understand the rocess of recruitment and selection of agents in Bharti A@a Life Insurance Com any%

•

To identify various sources of !ecruitment used by Bharti A@a and com are their effectiveness to the organiEation in terms of cost and value% To critically evaluate the various roducts of Bharti A@a and their benefits to customers%

•

•

To 7now the level of awareness about Bharti A@a among eo le/&ob a licants

C(A'T;! 3 44

!;AS;A!C( $;T(-)-L-#I

DATA SOURCES

)ata Collection $ethod )ata was collected by 'rimary as well as Secondary method%

'rimary )ata Sources
'rimary data was collected through a well structured "uestionnaire designed se arately for candidates% A ilot survey was conducted to test the utility of the "uestionnaire and necessary changes being made% Juestionnaire )esigned? Juestionnaire was used for the survey

% Secondary )ata Sources

The secondary data was collected from the com any manuals9 handboo7s9 and management boo7s and are edited to suite the ur ose%

PERIOD OF STUDY:
The time eriod ta7en for this ro&ect is <B days% !esearch done in Bharti AXA is hel ed to com lete this ro&ect successfully% The study was com leted with in short s an of time that was available%

SAMPLE SIZE

8or the ur ose of analysis a sam le siEe of res ondents was selected% The target grou of the res ondent was above years% The sam le ta7en was B1%

RESEARCH DESIGN The resent investigation is descri tive ty e of study underta7en to estimate the roduct strategy of Bharti A@a% The resent study identifies views of customers + analysis of Bharti A@a%

PROBLEM FORMULATION

The roblem is that there is rising com etition between Bharti A@a and other com anies% Bharti A@a Insurance is also roviding better services in s ite of that Bharti A@a Insurance is having a greater mar7et share

Limitati !" # t$% St&'(

4% As the ro&ect is re ared for academic ur ose only9 it suffers from the
limitations of time and money9 due to which analytical study into all the strategies ado ted by the organiEation was not ossible% 0% The study was com leted with in short s an of time that was available%

>% The re ort also suffers from the limitations of e@haustiveness as far as the information is concerned% <% All this study is limited to Bharti AXA Life Insurance9 Ban&ara (ills

%

COMPANY PROFILE

PROJECT REPORT ON BHARTI AXA LIFE INSURANCE

*T(; AFA!;N;SS -8 LI8; INSU!ANC; A$-N#ST C-NSU$;!S,
Submitted in artial fulfillment of the re"uirements 8or the award of the degree of

$AST;! -8 BUSIN;SS A)$INIST!ATI-N
SUB$ITT;) BI? Shirisha%) 5!-LL N-? 12:#4;11<=6

INTRODUCTION TO COMPANY

B$a)ti AXA Li#% I!"&)a!*% C m+a!( Lt'

%
• B$a)ti AXA Li#% I!"&)a!*%
is a &oint venture between Bharti9 one of IndiaHs leading business grou s with interests in telecom9 agri business and retail9 and AXA9 world leader in financial rotection and wealth management% The &oint venture com any has a =<Ksta7e from Bharti and 0DK sta7e of AXA%

•

The com any launched national o erations in )ecember 011D% Today9 it has over B011em loyees across over 40 states in the country% -ur business hiloso hy is built around the romise of ma7ing eo le LLife ConfidentL%

•

As we e@ and our resence across the country to cater to your insurance and wealth management needs with our roduct and service offerings9 we continue to bring Mlife confidenceM to customers s read across India% Fhatever your lans in life9 you can be confident that Bharti AXA Life will offer the right financial solutions to hel you achieve them%

The Joint .enture B(A!TI and AXA

BHARTI

Bharti ;nter rises is one of IndiaNs leading business grou s with interests in telecom9 agribusiness9 insurance and retail% Bharti has been a ioneering force in the telecom sector with many firsts and innovations to its credit% Bharti Airtel Limited9 a grou com any9 is one of IndiaNs leading rivate sector roviders of telecommunications services with an aggregate of D1million customers9 s anning mobile9 fi@ed line9 broadband and enter rise services% Bharti Airtel was ran7ed amongst the best erforming com anies in the world in the Business Fee7 IT 411list 011=% Bharti Teletech is the countryNs largest manufacturer and e@ orter of tele hone terminals% Bharti has a &oint venture with ;L!o (oldings India Ltd% O P8ield 8resh 8oods 'vt %LtdN 3 for global distribution of fresh fruits and vegetables% Bharti also has a &oint venture 3 % Bharti also has a &oint venture 3

Bharti AXA Life Insurance $anagement com any called Bharti !etail 'vt% Ltd% It also has a &oint venture O PBharti Fal3$art 'rivate LimitedN O with Fal3$art9 for wholesale cash3and3carry and bac73end su ly chain management o erations%

AXA G) &+

AXA #rou is a worldwide leader in 8inancial 'rotection% AXAM s o erations are diverse geogra hically9 with ma&or o erations in Festern ;uro e9 North America and the Asia/'acific area% AXA had ;uro 49>4B billion in assets under management as of )ecember >49 011D% 8or full year 011D9 I8!S revenues amounted to ;uro =2 billion9 I8!S underlying earnings amounted to ;uro <9141 million and I8!S ad&usted earnings to ;uro B94<1 million% The AXA ordinary share is listed and trades under the symbol AXA on the 'aris Stoc7 ;@change% The AXA American )e ository Share is also listed on the NIS; under the tic7er symbol AXA%

B$a)ti AXA Li#% I!"&)a!*% Vi"i !
To be a leader and the referred com any for financial rotection and wealth management in India% • • • • .alues Innovation

Team S irit 'ragmatism

• •

Integrity 'rofessionalism

? 3 • 'rofessionalism
A rofessional is a collegial disci line that regulates itself by means of mandatory9 systematic training% It has a base in a body of technical and s ecialiEed 7nowledge that it both teaches and advances it sets and enforces its own standards and it has a service rather than a rofit orientation9 enshrined in a code of ethics%

• Innovation?
Innovation % % % is generally understood as the successful introduction of anew thing or method % % % Innovation is the embodiment9 combination9 or synthesis of 7nowledge in original9 relevant9 valued new roducts9 rocesses9 or services%

• Team S irit ?3
Team s irit is the s irit of a grou that ma7es the members wants the grou to succeed

• 'ragmatism?3
'ragmatism is the hiloso hy of considering ractical conse"uences and real effects to be vital com onents of meaning and truth%

• Integrity? 3
Integrity is consistency of actions9 values9 methods9 measures9 rinci les9 e@ ectations and outcome% As a holistic conce t9 it &udges the "uality of a system in terms of its ability to achieve its own goals%

BHARTI AXA LIFE INSURANCE COMPANY LTD

Bharti AXA Life is a life insurance layer that was started in 011D% It brings together strong financial e@ ertise of the 'aris3head"uartered AXA #rou 9 and Bharti ;nter rises 3 one of IndiaMs leading business grou s with interests in telecom9 agricultural business9 financial services9 and retail% The &oint venture has a =<K sta7e from Bharti and 0DK sta7e from AXA Asia 'acific (oldings Ltd% 5A'(6 %The Com any launched national o erations in )ecember 011D% Today9 Bharti AXA Life has a national foot rint of distributors trained to rovide "uality financial advice and insurance solutions to the large Indian customer base% Bharti AXA Life offers a range of innovative roducts and services that cater to s ecific insurance and wealth management needs of customers%

O&) ,i#% i!"&)a!*% -)a!'
Fe undertoo7 an in3de th analysis wherein we identified the notion of reference was totally related to the trust granted to various names in insurance and financial services% The level of trust is very inade"uate today9 regardless of the brand considered% This is because the erce tion of consumers is that we are all evolving only in La world of romises%L And this is what we have to redefine%

Beyond romises%%% roof

Fe donMt want to ma7e romises any more% Instead9 we want to demonstrate our ability to res ond to client needs with real and tangible roof and9 in so doing9 to establish an authentic relationshi of trust with our clients%

O&) . * )% attit&'%": Att%!ti/%0 R%,ia-,% a!' A/ai,a-,%
These are the three attitudes that clients most e@ ect from an insurance and financial services com any in e@change for their vote of confidence% These three attitudes stood out from the others in the consumer research we conducted across mar7ets9 regardless of their level of maturity% They are at the heart of our actions and our commitments to clients%

About Bharti AXA Life Insurance and CEO Milind !halis aon&ar' Chief ;@ecutive -fficer
Milind !halis aon&ar is the Chief ;@ecutive -fficer for Bharti AXA Life Insurance Co% Ltd% (e has held C;-3level ositions from 422> to 0112 in industries li7e Insurance9 B'-9 Call center9 Software + $anufacturing% (is e@ erience has been in building winning teams in start3u com anies as well as e@isting organiEations% As the founding C;-9 $ilind was res onsible for the formation and launch of Bharti AXA #eneral Insurance Co9 a &oint venture between Bharti #rou + AXA #rou % The com any was incor orated in 011=9 and business was successfully launched in 011:% (e was also $ember of the !egional $anagement Board of AXA Asia #eneral Insurance9 res onsible for IT9 'rocessing + Claims across Asia% 8rom 011> to 011D he was the $anaging )irector of AXA Business Services9 the B'- + Analytics o eration of AXA #rou in India% 'rior to this he was the founding C;- of $ hasiS B'- 5$sourc; India69 roviding outsourced remote services li7e call centers9 (el des7s + email res onse% The

o erations started in 4222 and grew to 0B11 staff by year 011>% (e also managed the software o erations of $ hasiS India from 422: to 0111 as 'resident 5Indian - eration6% (e also served as 'resident9 (+! Johnson 5422> to 422:6 and led 7ey software ro&ects during his tenure at Citiban7 542:23422>6% This included com lete re3write of the ban7ing software latform including internet ban7ing9 hone ban7ing and 0<3hour access%

$ilind holds B%Tech 5Ceramics6 from IT3B(U and has a 'ost #raduate )i loma in $anagement 5$BA6 from XL!I9 Jamshed ur%

$ar7 #erard $eehan3 Chief $ar7eting and o erations -fficer
Mar& Meehan is currently the Chief $ar7eting and - erations -fficer for Bharti AXA Life Insurance Com any Ltd% $ar7Hs revious role in AXA was that of C;- of Tynan $ac7enEie '/L9 a rofessional investment services com any% (is role in Bharti AXA Life as C$-- includes $ar7eting9 'roduct )evelo ment9 Customer Service9 Underwriting9 Claims9 Channel + )istribution - erations9 Information Technology and Systems9 Si@ Sigma9 Business Continuity and Client 'ersistency $anagement%

$ar7Hs career ath s ans a range of mar7ets and geogra hies% (e is a graduate from !oyal $ilitary College9 )untroon and has served as a commissioned -fficer in the Australian Army% $ar7 has also en&oyed a successful international military career covering high technology and systems engineering%

In 422<9 he transferred his s7ills to the rivate telecommunication mar7et9 basing himself in the UA% -n his return to Australia in 422=9 $ar7 was a consultant to ublic and rivate sector clients in systems engineering and outsourcing9 after which he moved to ;"uant in Singa ore as their Asia 'acific -utsourcing )irector% In 01119 $ar7 was a ointed ;"uantHs #eneral $anager for Australasia% $ar7 &oined AXA Australia in 0110 and handled ma&or roles in strategy e@ecution9 business turnaround9 o erations and general management% $ar7 held directorshi s of several AXA subsidiaries% In Se tember 011D9 $ar7 was a ointed C;- and )irector of Tynan $ac7enEie '/L after leading the ac"uisition team to a successful transaction conclusion%

.%Srinivasan3 Chief 8inancial -fficer
( Srini)asan is currently the Chief 8inancial -fficer of Bharti AXA Life Insurance Com any% (e started his career as a Chartered Accountant in 42:2 and over the ast two decades has emerged as a stalwart in the financial sector% Fith over : years of rich e@ erience in the Life Insurance industry9 today9 he stands as a storehouse of financial 7nowledge and e@ ertise% (is ortfolio also boasts of e@tensive e@ erience in diverse industrial segments li7e manufacturing and oil + gas% 8rom A ril 422D to 8ebruary 01109 he has handled Cor orate 8inance and Ta@ at Cairn ;nergy India 'vt Ltd% (e has held res onsibilities in Accounting and 'ro&ect !e orting at AuntE9 Auwait9 !eliance and S!8 Ltd% (e has also functioned as the Senior .ice 'resident 3 Cor orate Affairs at ICICI 'rudential Life Insurance Com any and C8- of A$' Samar Life Insurance Com any from 8ebruary 0110 to )ecember 011B%

Sushanto Mu&herjee'!hief Distributor *fficer
Sushanto Mu&herjee is the Chief )istribution -fficer for Bharti AXA Life Insurance Com any Ltd% 'rior to thisQ he was )irector + (ead 'artnershi )istribution + #rou Business at $a@ New Ior7 Life Insurance Co% Ltd% (e started his career with ITC3Felcome grou hotels division in 42:2% (e has subse"uently wor7ed in various re uted organiEations such as Xero@Q !eliance Noncom + Tata AI# in senior ositions managing sales at Ronal + National Levels% Sushanto has over 04 years of e@ erience across Insurance9 Telecom9 (os itality and -ffice Automation% (e has a strong bac7ground in develo ing + managing artnershi channels in Life Insurance9 managing large teams in !etail )istribution and effectively leading direct sales teams in the Cor orate Segment% (e is an $BA from Cardiff Business School United Aingdom%

STRATEGY
To achieve a to B mar7et osition in India through a multi3distribution9 multi3 roduct latform To ada t AXAMs best ractice blue rints as a sound latform for rofitable growth To leverage BhartiMs local 7nowledge9 infrastructure and customer base To deliver high levels of shareholder return To build long term value with our business artners by enhancing the ro osition to their customers To be the em loyer of choice to attract and retain the best talent in India To be recogniEed as being close and "ualified by our customers

VALUE OFBHARTI AXA LIFE 'rofessionalism Integrity Team S irit 'ragmatism Innovation

THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY

5I!)A6!eforms in the Insurance sector were initiated with the assage of the I!)A Bill in 'arliament in )ecember 4222% The I!)A since its incor oration as a statutory body in A ril 0111 has fastidiously stuc7 to its schedule of framing regulations and registering the rivate sector insurance com anies% The other decisions ta7en simultaneously to rovide the su orting systems to the insurance sector and in articular the life insurance com anies were the launch of the Ir)AHs online service for issue and renewal of licenses to agents%

The a roval of institutions for im arting training to agents has also ensured that the insurance com anies would have a trained wor7force of insurance agents in lace to sell their roducts% Since being set u as an inde endent statutory body the I!)A has

ut in a frame wor7 of globally com atible regulations% In the rivate sector 40 life insurance and D general insurance com anies have been registered%

I!"&)a!*% P) '&*t" # B$a)ti AXA

I!'i/i'&a, P,a!" :

B$a)ti AXA Li#% G&a)a!t%% B&i,'%)
A Unit Lin7ed #uarantee 'lan #uarantee Builder rovides you with a comfort factor on your investments and you can be sure that this comfort factor 7ee s building year3on3 year% ItMs a solid investment lan that lets you achieve your long3term goals by investing in a mi@ of debt and e"uities9 while roviding a #uaranteed $aturity .alue over 4B years% FhatMs more9 you need not worry about your familyMs security as it has a strong life insurance rotection embedded%

B$a)ti AXA Li#% B)i1$t Sta)"

A Unit Lin7ed Child roduct Bharti AXA Life Bright Stars rovides a launch ad for your childNs bright future% Fhat else9 you also have Jum start benefit which is aid out at maturity along with 'olicy 8und .alue9 which enables your child to e@ lore more career o tions%

B$a)ti AXA Li#% S+ t S&)a2"$a
S ot Sura7sha hel s you create a ool of wealth to meet your long3term needs9 with an added advantage of sim lified buying rocess%

B$a)ti AXA D)%am Li#% P%!"i !
A Unit Lin7ed 'ension 'roduct )ream Life 'ension9 Bharti AXA Life InsuranceMs uni"ue ension roduct ensures that your retirement life is your )ream Life% Live your )reamsS Be Life Confident%

B$a)ti AXA Li#% A"+i)% Li#%
Unit Lin7ed ;ndowment 'roduct% As ire Life hel s you create a ool of wealth to meet your long3term needs9 while also roviding you ade"uate rotection in case the need arises%

B$a)ti AXA Li#% I!/%"t C !#i'%!t
Unit Lin7ed Single 'remium 'roduct% Iou have always strived hard to achieve the best for you and your loved ones9 so when it comes to ma7ing an investment decision9 we 7now that you would e@ ect the best from it too%

B$a)ti AXA Li#% W%a,t$ C !#i'%!t
A unit3lin7ed investment cum rotection olicy% Iour wealth9 your status ensures that you get referential status wherever you go% So why shouldnMt your money get the sameT

B$a)ti AXA Li#% F&t&)% C !#i'%!t
A unit3lin7ed olicy which offers com rehensive rotection along with wealth creation in the long term%

B$a)ti AXA Li#% F&t&)% C !#i'%!t II
A unit3lin7ed roduct which offers enhanced rotection along with wealth creation in the long term%

B$a)ti AXA Li#% Sa/% C !#i'%!t
Traditional money bac7 insurance roduct for long term savings% Iour changing life stages decide your financial milestone lanning% Fhen you foresee intermittent financial re"uirements in the years to come9 li7e regular e@ enses related to your childNs education9 li"uidity becomes a 7ey as ect of your lanning along with long term savings9 and rotection for your family%

B$a)ti AXA Li#% S%*&)% C !#i'%!t

A Long Term Life Insurance% All of us desire to ma@imiEe the ha iness for our family at all times9 irres ective of the circumstances% The thought of unfortunate events befalling us may cause us an@iety about roviding a secured ha iness to our loved ones%

$(*+,#I*- *. I-S,RA-!$
-ne of the earliest forms of life insurance e@isted during the #ree7 and !oman times when following an individualMs death9 all surviving members made contributions for the burial services% It was only much later9 in the 4=th century9 when a formal form of life insurance was introduced% This was under the Tontine Annuity System wherein associations of individuals were formed and a fund was created by e"ual contributions from each member% This sum was invested9 and at the end of each year9 the dividend was distributed among the surviving members% In all of this9 the last remaining survivor received the entire amount of the rinci al% Fith the assage of time9 life insurance has evolved into being an easy and affordable means of roviding financial security for the insured and his/her family9 in the event of the death of the insured or his/her inability to earn due to hysical disabilities

• /hy do you need +ife Insurance0 #o protect your family financially
Iou love your family and feel res onsible towards them in every way% A life insurance lan covers your life at nominal costs so that you can fulfill your res onsibility with ease and your family never has to face financial constraints%

• /hy do I need to secure my family /hen I1m there for them0
A life insurance lan will ta7e care of your family in case you are not around for them% Iou need to rotect your family against unforeseen events% A life insurance lan hel s you do so very easily%

• isn’t securin my family for the future e2pensi)e for me no/0
Life insurance lans are of different ty es% 'rotection lans hel you secure your families tomorrow at very nominal costs and for a long time eriod%

• #o ma2imi3e your sa)in s
Life insurance lans not only ensure your familyMs security but are also a healthy investment o tion% These investments ensure your money wor7s hard for you by giving you good returns along with eace of mind9 as your family is rotected% So whether it is your own home9 the best education for your child or even a comfortable lifestyle9 life insurance lans are the best solutions%

• "o/ does a +ife Insurance plan ma2imi3e my sa)in s0
There are variants of Life Insurance lans available today that can ma@imiEe your savings% The traditional lans give you definite amount as assured money bac7% ULI's or mar7et3 lin7ed lans invest your money in the mar7ets to hel you rea high returns along with life insurance benefits% 8und managers are the e@ erts that ta7e care of your investment lans to ensure you ma@imiEe your savings%

• Do I need to /orry about the safety of my in)estments0
There are different lans that you can invest in9 de ending on how much ris7 you are ready to ta7e% The lans can be summed u into 3 Traditional 'lans9 ULI's and #uarantee 'lans

T)a'iti !a, P,a!"

Traditional 'lans give you guaranteed returns on the invested money% The returns you earn through these lans are re3decided and communicated to you at the time of issuance of olicy%

ULIP"
Unli7e Traditional 'lans9 Unit Lin7ed Insurance 'lans 5ULI's6 invest a art of your remium amount into the financial mar7ets% The returns under these olicies de end on mar7et erformance% $ar7et u swings can ensure you earn high returns% There are various fund o tions available under these lans% Basis your ris7 a etite9 you can o t for the a ro riate fund o tion%

G&a)a!t%% P,a!"
#uarantee 'lans are Unit Lin7ed 'lans9 with an in3built MguaranteeM feature% These lans safeguard the money invested against any mar7et downturns% Fhen the mar7et is u 9 you can en&oy high returns and in case of mar7et downswings9 there is a minimum guaranteed amount aid to you that ensures you do not lose your hard earned money%

• Do these plans also pro)ide protection to my family0
Ies% Fhile these lans focus on ma@imiEing your returns9 they also include the feature of life rotection9 which ta7es care of your familyMs future

• "o/ can a child plan help me0
#o fulfill your child1s dreams As a res onsible arent9 you wouldnHt li7e to ma7e com romises when it comes to your child% Child lans hel you secure your childMs future in a lanned and systematic manner% These lans can hel you fulfill your res onsibilities towards your child conveniently% Iou can systematically lan for the finances re"uired for your childMs future with these lans% Iou can select the term of the lan de ending on your childMs re"uirements at their 7ey life stages3 his/her education9 higher studies or even marriage% And through eriodic withdrawals from the olicy9 you can rovide financial assistance for the 7ey milestones of your child% By investing in this lan9 you can ma7e your money grow over a eriod of time9 thereby securing your childMs dreams%

• 4ill my child et the benefit from this plan5 in case I1m not around0
The uni"ue Faiver of 'remium feature ta7es care of this concern% )uring the term of the olicy9 should anything unfortunate ha en to you9 the rotection cover is aid out and all future remiums are waived off% This ensures that the olicy continues till maturity and you need not fear of olicy la se because you are not around to ay the future remiums% Child lans in that sense will ta7e care of your child and his future9 even in your absence%

• 4hy do I need a Retirement Plan /hen I am youn 0 $njoy a olden retirement
!etirement lans are the best way to systematically lan for your golden years% By investing in these long3term lans9 you can earn a regular income even after youMve sto ed wor7ing% Fithout worrying about rising costs9 you can be self3reliant and lead a comfortable retired life% These are long3term lans since they aim to rovide a regular income to you ost your retirement% The earlier you start9 the better it is9 so that when the term of the lan ends9 you can en&oy a good cor us as ension% By investing in retirement lans today9 you can ensure you lead a comfortable life9 even after youMve sto ed wor7ing%

• 4hy should I opt for a "ealth Plan0 Stay /orry'free about your medical e2penses
(ealth roblems often hit us suddenly and they bring with them huge medical bills% To avoid being financially strained9 due to health contingencies9 you can o t for a health insurance lan and stay worry3free% (ealth roblems can arise anytime% Fith the hel of a health lan9 you can invest systematically today9 so that in case of any health crisis9 your hefty medical bills are ta7en care of%

FhatHs more9 health insurance lans also ta7e care of certain critical illnesses and disabilities to ensure health roblems do not im act your familyMs financial security

BHARTI AXA LIFE ADVISOR

The vision of Bharti AXA Life insurance com any limited is to become the referred life insurance com any in India% This vision e@tends to our recruitment hiloso hy as well% Both the Bharti #rou in India and AXA globally en&oy the status of being a very em loyee focused organiEation% At Bharti AXA Life Insurance9 we are determined to achieve our vision through talent who are em owered9 focused on customer service9 and cham ions of strategic and o erational e@cellence%

The guiding HR principles a !har i A"A are#

•

Clearly define sco e of res onsibilities and em ower eo le to deliver

•

Consider individual training and develo ment a riority investment

•

Build organiEations that are conducive to teamwor7 and that involve everyone

•

'romote ongoing dialogue between managers and the eo le who re ort to them

•

$a7e cultural difference a 7ey source of strength

D%#i!iti ! # A1%!t

According to section 4:0 of Indian contracts Act9 an UagentV is a erson em loyed to do any act for another or to re resent another in dealing with a third erson% In the insurance industry9 the term UagentV is ordinarily a lied to a erson engaged by the insurer to rocure new business% The insurance Act definers and insurance agent as one who is licensed under Section <0 of that Act and is aid by way of commission or otherwise9 in consideration of his soliciting of rocuring insurance business9 including business relating to the continuance9 renewal or revival of olicies of insurance% (e is9 for all ur oses9 an authoriEed salesman for insurance and needs a license%

An agent is one who acts on behalf of another% The UanotherV on whose behalf the agent acts9 is called the rinci al in this case% The insurance com any is the rinci al in this case% The lawyer is the agent of the client9 when he argues the case in court% An ambassador is an agent of his country% The agent re resents the rinci al and acts on his behalf% Some insurers designate their agents as PadvisersV9V consultantsV etc% as if they are inde endent advisor or consultant would not be a ointed by an insurance com any% (e would be 7nowledgeable enough as a erson to be a roached for advice or consultation% Some insurance agents may ac"uire that status% All insurance agents should strive to attain that status%

'rocedure for becoming an Agent The insurance Act9 42>: lays down that an insurance agent must ossess a license under Section<0 of that Act% The license is to be issued by the I!)A% The I!)A has authoriEed designated ersons9 in each insurance com any9 to issue the licenses on behalf of the I!)A% In terms of the Insurance Act9 a licenses will not be given if the erson is5a6 $inor95b6 8ound to be of unsound mind9

FUNCTION OF AN AGENT
• • • Understanding the ros ectNs needs and ersuade him to buy a lan of life insurance that suits his interestHs best% Com lete the formalities?3 a er wor79 medical e@amination9 which are necessary to get the olicy e@ editiously% Aee in touch to ensure that changing circumstances are reflected in the arrangements relating to remium ayments9 nomination and other necessary alterations 8acilitate "uic7 settlement of claims% Be totally honest with both the ros ect and the insurer% Not to induce ros ects to submit wrong information% Career with Bharti AXA ortunity to earn unlimited income%

• • • • • •

Career #rowth%

• • •

Be your own boss% (igh "uality training + Su ort to im rove roductivity%

Com ensation amongst the best%

• • • •

Club member benefits% 'ayout structured to facilitate your cash flows better% Best in class + com etitive roducts% 'ension for life%

CLAIM PROCESS

A claim is the ayment made by the insurer 5Insurance Com any6 to the olicyholder or claimant on the occurrence of the event which is s ecified in the 'olicy Bond%

#ypes of claims

Claims are of three ty es?

•

)eath Claim

•

!ider Claim

•

$aturity Claim

C,aim3+) *%"":
In case a claim arises5 you should6 • Contact your nearest Bharti AXA Life Branch or • Contact your insurance advisor or • Call our Customer (el line Toll 8ree 4:11 W 410 W <<<< • Frite to us at serviceXbharti3a@alife%com

Please attach a copy of Death !ertificate issued by Municipal Authorities alon /ith Death !laim Intimation
-n recei t of a written claim intimation9 Bharti AXA Life will send an ac7nowledgement letter listing the claim re"uirements along with the claim forms to the Claimant%

•

Claimant Statement 8orm 5)eath6

•

Claimant Statement 8orm 5Critical Illness6

•

Claimant Statement 8orm 5)isability6

LIFE INSURANCE PROTECTION PLANS

Protect your lo)ed ones a ainst financial contin encies at nominal costs

Iou love your family and feel res onsible towards them in every way% But life can be uncertain and unforeseen contingencies can meet you anytime% At such times9 life insurance comes to your rescue% As someone who wants only the best for their family9 we understand your need to safeguard your family against any crisis% -ur rotection lans offer you high life cover at nominal costs so that you can fulfill your res onsibility with ease and your family never has to face financial constraints%

•

Bharti AXA Life ;lite Secure

•

Bharti AXA Life Secure Confident

•

Bharti AXA Life 8amily Income Secure

•

Bharti AXA Life 'rotect 'lus

•

Bharti AXA Life 'remium Faiver !ider

E,it% S%*&)%
•

Life Insurance cover at very com etitive remiums

•

- tion to cover your life till =B years

S%*&)% C !#i'%!t
•

A sim le Life Insurance roduct

•

com rehensive rotection for your loved ones

WEALT CREATION WIT PROTECTION PLAN

$nsure your family1s security as you ma2imi3e your sa)in s

Iou can ma7e your money wor7 harder with our Fealth Creation with 'rotection lans% These lans come with the double advantage of?
• •

Com lete eace of mind as your family is financially rotected and #ood investment o tion that ensures long3term financial goals are met

Fhether it is a bigger home9 a dream vacation or even a comfortable future9 these life insurance lans are the best solutions along with the surety of financial rotection% -ur life insurance coverage lans include MtraditionalM lans that give guaranteed money on maturity% Fhile9 we also offer mar7et3lin7ed lans that give you the benefit of good mar7et erformance to ma@imiEe your savings%

•

Bharti AXA Life Child 'lans

•

Bharti AXA Life #uaranteed 'lans

BUYING LIFE INSURANCE POLICY HOLDER CORNER

• •

'olicyholder Corner !ecommend Bharti AXA Life

P*+I!7"*+D$R !*R-$R
• • • • • • •

'!;$IU$ 'AI$;NT -'TI-NS CLAI$S '!-C;SS $ANA#; I-U! '-LICI 8;;)BACA 8-!$ !ecommend Bharti AXA Life #rievance !edressal 'rocedure Customer Newsletter

RETIREMENT PLANS

Ma&e the olden years of your life truly comfortable.
!etirement lans are the best way to systematically lan for your golden years% -ur fle@ible retirement lans ensure you live your dream retirement% By investing in these long3term lans by aying life insurance remium9 you can earn a regular income even after youMve sto ed wor7ing% Fithout having to de end on anyone else or worry about rising costs9 you can go ahead and lead a comfortable retirement%

8harti A9A +ife 4onder 7ears Retirement Plan

Dream +ife Pension P+,S
 

8le@ibility to change your retirement age any time !egular and single ay o tions

.uture Secure Pension
 

Limited ayment term of B years 40 free switches every olicy year

.uture Ad)anta e Pension

 'remium ayment for &ust > years  No surrender charges throughout the olicy term

!"AP#$R ' :

RECRUITMENT AND SELECTION PROCESS IN BHARTI AXA

INTRODUCTION TO TOPIC

The human resources are the most im ortant assets of an organiEation% The success or failure of an organiEation is largely de endent on the caliber of the eo le wor7ing therein% Fithout ositive and creative contributions from eo le9 organiEations cannot rogress and ros er%

In order to achieve the goals or the activities of an organiEation9 therefore9 they need to recruit eo le with re"uisite s7ills9 "ualifications and e@ erience% Fhile doing so9 they have to 7ee the resent as well as the future re"uirements of the organiEation in mind%

!ecruitment is distinct from ;m loyment and Selection% -nce the re"uired number and 7ind of human resources are determined9 the management has to find the laces where the re"uired human resources are/will be available and also find the means of attracting them towards the organiEation before selecting suitable candidates for &obs%

All this rocess is generally 7nown as recruitment% Some eo le use the term *!ecruitment, for em loyment% These two are not one and the same%

RECRUITMENT AND SELECTION

!ecruitment and selection are two of the most im ortant functions of ersonnel management% !ecruitment recedes selection and hel s in selecting a right candidate% !ecruitment is a rocess to discover the sources of man ower to meet the re"uirement of the staffing schedule and to em loy effective measures for attracting that man ower in ade"uate numbers to facilitate effective selection of efficient ersonnel% Staffing is one basic function of management% All managers have res onsibility of staffing function by selecting the chief e@ecutive and even the foremen and su ervisors have a staffing res onsibility when they select the ran7 and file wor7ers% (owever9 the ersonnel manager and his ersonnel de artment is mainly concerned with the staffing function% ;very organiEation needs to loo7 after recruitment and selection in the initial eriod and thereafter as and when additional man ower is re"uired due to e@ ansion and develo ment of business activities% !ight erson for the right &obN is the basic rinci le in recruitment and selection% ;ver organiEation should give attention to the selection of its man ower9 es ecially its managers% The o erative man ower is e"ually im ortant and essential for the orderly wor7ing of an enter rise% ;very business organiEation/unit needs man ower for carrying different business activities smoothly and efficiently and for this recruitment and selection of suitable candidates are essential% (uman resource management in an organiEation will not be ossible if unsuitable ersons are selected and em loyment in a business unit%

MEANING RECRUITMENT

!ecruitment means to estimate the available vacancies and to ma7e suitable arrangements for their selection and a ointment% !ecruitment is understood as the rocess of searching for and obtaining a licants for the &obs9 from among whom the right eo le can be selected% A formal definition states9 UIt is the rocess of finding and attracting ca able a licants for the em loyment% The rocess begins when new recruits are sought and ends when their a licants are submitted% The result is a ool of a licants from which new em loyees are selectedV% In this9 the available vacancies are given wide ublicity and suitable candidates are encouraged to submit a lications so as to have a ool of eligible candidates for scientific selection% In recruitment9 information is collected from interested candidates% 8or this different source such as news a er advertisement9 em loyment e@changes9 internal romotion9 etc% are used% In the recruitment9 a ool of eligible and interested candidates is created for selection of most suitable candidates% !ecruitment re resents the first contact that a com any ma7es with otential em loyees )efinition? According to ;)FIN 8LI''-9 U!ecruitment is the rocess of searching for ros ective em loyees and stimulating them to a ly for &obs in the organiEation%V

8inding the right eo le is a ma7e3or3brea7 factor for success in business today% !ecruiting the to talent for a &ob ta7es time and you have to attract "uality candidates who have the 7nowledge and s7ills needed to hel your com any grow% The fact is9 your success with recruitment de ends on how well you re are your &ob ad9 and use source of recruitment9 and your interviewing s7ills% 're are a &ob ad that wor7s to start9 you want to be sure that your otential candidate truly understands the &ob% The clearer you are with the tas7 descri tion9 wor7ing conditions and advantages9 the less time you will waste e@amining and re&ecting a lications The essentials of any &ob descri tion are? • • • • A brief descri tion of your com any )etailed outline of the tas7s involved

Jualifications and e@ erience re"uired ;"ui ment and resources used to do the wor7

S7ills re"uired using them% (owever9 you should also include wor7 benefits 5e%g%9 vacation9 travel and er7s69 general wor7ing conditions 5e%g%9 scheduling9 outside wor76 and the s ecific traits re"uired 5e%g%9 team building and communications s7ills6% Ultimately9 you want to be erceived as an attractive em loyer in a com etitive mar7et% 8ind the right recruitment vehicle choose the vehicle that best wor7s for your com any9 de ending on your budget and resources%

W )' # m &t$
9 or sim ly telling your em loyees9 friends and colleagues about a &ob o ening9 is a less e@ ensive strategy but generates fewer candidates% The advantage is that you already 7now something about your recruiters and their s7ills9 7nowledge and achievements% This is a referred method with com anies that have a finderMs fee rogram for their em loyees%

A'/%)ti"i!1
is a toss of the dice% If it goes well9 it can hel you find ideal candidates in a regional9 national9 or international ool% If not9 itMs a costly investment yielding few results% $a7e sure to factor in the time it ta7es to go through a large number of resumes%

Em+, (m%!t a1%!*i%"
Cost more but generally rovide a good range of candidates% The em loyment advisors loo7 at your needs9 screen a number of candidates9 and only send you the a lications that meet your re"uirements% Bear in mind that the largest em loyment agencies do not necessarily offer the best choice of candidates% There are numerous agencies that s ecialiEe in recruitment in s ecific sectors% !ecruiting online such asmonster%com9 nau7ri%com + times&ob%com% These can rovide ine@ ensive9 worldwide access to em loyees% In fact9 DBK of &ob see7ers now have access to these ty es of services% Using the Internet for recruiting usually involves regular visits to s ecialiEed recruitment sites9 &oining newsgrou s9 and osting your &ob o enings on recruitment sites9 electronic ublications and on your own Feb site%

!ecruitment is only one of the ste s in the entire em loyment rocess% Some others use the term recruitment for selection% These are not the same either% Technically s ea7ing9 the function of recruitment recedes the selection function and it includes only finding9 develo ing the sources of ros ective em loyees and attracting them to a ly for &obs in an organiEation9

Fhereas the selection is the rocess of finding out the most suitable candidate to the &ob out of the candidates attracted 5i%e%9 recruited6%8ormal definition of recruitment would give clear cut idea about the function of recruitment% It is a G&oining rocessH in that it tries to bring together &ob see7ers and em loyer with a view to encourage the former to a ly for a &ob with the latter%

In order to attract eo le for the &obs9 the organiEation must communicate the osition in such a way that &ob see7ers res ond% To be cost effective9 the recruitment rocess should

attract "ualified a licants and rovide enough information for un"ualified ersons to self3select themselves out%

Thus9 the recruitment rocess begins when new recruits are sought and ends when their a lications are submitted% The result is a ool of a licants from which new em loyees are selected%

RECRUITMENT PROCESS OF BHARTI AXA

 As am in recruitment rocess I have done calls to some friends and their references to e@ lain the business o ortunity rocess of the com any  Being a &unior (! in the com any I had been given the tas7 of giving a er adds for recruitment  In the rocess of recruitment the com any has ta7en the initiative by ta7ing references of e@isting staff of the com any9 and as remuneration the staff will be aid !s%B111/3 as incentive towards each candidate recruited  Through consultancies that are committed to the com any

SELECTION

Selection is defined as the rocess of differentiating between a licants in order to identify 5and hire6 those with a greater li7elihood of success in a &ob% Selection is basically ic7ing an a licant from 5a ool of a licants6 who has the a ro riate "ualification and com etency to do the &ob% The difference between recruitment and selection? !ecruitment is identifying and encouraging ros ective em loyees to a ly for a &ob% And Selection is selecting the right candidate from the ool of a licants% )evelo 'rofile )evelo sources of recruitment A screening and Interviews !eality chec7 roaching the Targeted recruits Initial

After recruitment the ne@t art is selection of best candidates %
$a7e the interview deliver Since the ur ose of an interview is to identify and verify the candidateMs otential9 it should be structured to bring out all the desired com etencies and a titudes% !emember that you have to decide between the candidates? you could create a oint system or analysis grid for com aring their strengths and wea7nesses% (ere are a few oints to consider when structuring an interview?

• •

$a7e a list in advance of the oints for discussion and corres onding "uestions% 'resent the candidates with a situation they could face on the &ob and as7 them how they would react% This will enable you to evaluate the candidatesM 7nowledge9 s7ills and wor7 methods%

•

As7 the candidates to describe some difficult situations encountered in revious &obs and to e@ lain the way in which they were resolved% This will give you the chance to gauge the candidatesM self3confidence9 creativity and roblem3solving s7ills% As7 the candidates to describe a difficult situation involving colleagues and how it was resolved% This will enable you to test their a titude for teamwor7% As7 the candidates about their ambitions and lans to ensure they fit your com any rofile% Beware of as7ing "uestions about ersonal interests% They can get the interview off trac7 or annoy eo le who want to 7ee their wor7 and rivate lives se arate%

• • •

!ecruitment is the ste towards Selection% #enerally recruitments are either ta7en care by the (! )e artment (ead or the manager 5whoever is res onsible for hiring6% There is a rocess for hiring a candidate that is usually to be followed in large organiEations% Fhen there is a re"uirement9 the (! de artment is communicated about the same%

The (! de artment then goes through the database of candidates it has or it would send the re"uirements through Classifieds9 Job ortals9 etc% By sending these re"uirements9 the organiEation is li7ely to get feedbac7 from eligible candidates in the form of C.s% The re"uirement advertisement should mention the Job Analysis 5Job )escri tion and Job S ecification6 so as to avoid attracting unnecessary a lications%

This also ma7es it easier for the (! de artment to shortlist from the a lications and this will hel reduce any bias from the (! resulting due to over e@amining the a lications9 boredom9 etc% !ecruitment and Selection are two different terms even though they are always mentioned together% After the recruitment rocess is accom lished it gives way to the selection rocess%

Selection rocess ta7es lace after the (! de artment has short listed from among the received a lications% The selection is not a lengthy rocedure but de ends from organiEation to organiEation% The recruitment rocess is im ortant in order to avoid any mista7es that would lead to future roblems for the com any from the candidateHs end% ItHs a saying we have heard in our childhood9 *one dirty fish ollutes the entire ond%, Similar is the case with em loyees% -ne wrong em loyee in the organiEation may ham er the growth of the entire organiEation%

SELECTION PROCESS OF BHARTI AXA

 In Bharti A@a 9firstly the interview is ta7en by (! about the details of the candidate li7e collects C.9 Introduction round9 reason y resigned in revious com any and y he/she wants to &oin this com any  Ne@t by Senior (! about the retainment that how long he/she wor7s

 Then by Branch Sales $anager about his/her rofession

 At last the final round by Assistant !egional Sales $anager for the a ointment letter

TRAINING PROCESS

 The com any rovides Induction training to the selected candidates  The training will be given for D days  In this training9 the first > days are said about insurances and olicies and the other > days about the roducts of the com any  After training the e@am is conducted and assed candidates are rovided by an I!)A License which is valid through out India

PURPOSES AND IMPORTANCE

 The general ur ose of recruitment is to rovide a ool of otentially Jualified &ob candidates% S ecifically9 the ur oses are to?  )etermine the resent and future re"uirements of the organiEation in Con&unction with its ersonnel3 lanning and &ob3analysis activities%  Increase the ool of &ob candidates at minimum cost%  (el increase the success rate of the selection rocess by reducing the Number of visibly9 under "ualified or over"ualified &ob a licants%  (el reduce the robability that &ob a licants9 once recruited and Selected9 will leave the organiEation only after a short eriod of time%

YBegin identifying and re aring otential &ob a licants who will be A ro riate candidates% YInduct outsiders with a new ers ective to lead the com any% YInfuse fresh blood at all levels of the organiEation% Y)evelo an organiEational culture that attracts com etent eo le to The com any% Search or head hunt/head ouch eo le whose s7ills fit the com anyHs .alues% Y)evise methodologies for assessing sychological traits% YSearch for talent globally and not &ust within the com any%

Y)esign entry ay that com etes on "uality but not on "uantum%
YAntici ate and find eo le for ositions that do not e@ist yet% Y Increase organiEational and individual effectiveness in the short term and long term% Y ;valuate the effectiveness of various recruiting techni"ues and Sources for all ty es of &ob a licants% !ecruitment re resents the first contact that a com any ma7es with otential em loyees% It is through recruitment that many individuals will come to 7now a com any9 and eventually decide whether they wish to wor7 for it% A well3 lanned and well3managed recruiting effort will result in high3 "uality a licants9 whereas9 a ha haEard and iecemeal effort will result in mediocre ones% (igh3"uality em loyees cannot be selected when better candidates do not 7now of &ob o enings9 are not interested in wor7ing for the com any and do not a ly%

The recruitment rocess should inform "ualified individuals about em loyment o ortunities9 create a ositive image of the com any9 rovide enough information about the &obs so that a licants can ma7e com arisons with their "ualifications and interests9 and generate enthusiasm among the best candidates so that they will a ly for the vacant ositions%

The negative conse"uences of a oor recruitment rocess s ea7 volumes about its role in an organiEation% The failure to generate an ade"uate number of reasonably "ualified a licants can rove costly in several ways% It can greatly com licate the selection rocess and may result in lowering of selection standards%

The oor "uality of selection means e@tra cost on training and su ervision% 8urthermore9 when recruitment fails to meet the organiEational needs for talent9 a ty ical res onse is to raise entry3level ay scales% This can distort traditional wage and salary relationshi s in the organiEation9 resulting in avoidable conse"uences% Thus9 the effectiveness of a recruitment rocess can lay a ma&or role in determining the resources that must be e@ ended on other (! activities and their ultimate success%

SUB3SYSTEMS OF RECRUITMENT

The recruitment rocess consists of the following four sub3functions?3
8inding out and develo ing the sources where the re"uired number and 7ind of em loyees will be available% )evelo ing suitable techni"ues to attract the desirable candidates ;m loying the techni"ues to attract candidates% Stimulating as many candidates as ossible and as7ing them to a ly for &obs irres ective of the number of candidates re"uired%

$anagement has to attract more candidates in order to increase the selection ratio so that the most suitable candidate can be selected out of the total candidates available% !ecruitment is ositive as it aims at increasing the number of a licants and selection is somewhat negative as it selects the suitable candidates in which rocessQ the unsuitable candidates are automatically eliminated% Though9 the function of recruitment seems to be easy9 a number of factors ma7e erformance of recruitment a com le@ one%

FACTORS AFFECTING RECRUITMENT The following are the 0 im ortant factors affecting !ecruitment?3 46 INTERNAL FACTORS Y!ecruiting olicy
YTem orary and art3time em loyees

Y!ecruitment of local citiEens
Y;ngagement of the com any in (!' YCom anyHs siEe YCost of recruitment YCom anyHs growth and e@ ansion

06 EXTERNAL FACTORS YSu ly and )emand factors
YUnem loyment !ate YLabor3mar7et conditions Y'olitical and legal considerations YSocial factors Y;conomic factors YTechnological factors

RECRUITMENT POLICY

!ecruitment olicy of any organiEation is derived from the ersonnel olicy of the same organiEation% In other words the former is a art of the latter% (owever9 recruitment olicy by itself should ta7e into consideration the governmentHs reservation olicy9 olicy regarding sons of soil9 etc%9 ersonnel olicies of other organiEations regarding merit9 internal sources9 social res onsibility in absorbing minority sections9 women9 etc% !ecruitment olicy should commit itself to the organiEationHs ersonnel olicy li7e enriching the organiEationHs human resources or servicing the community by absorbing the retrenched or laid3off em loyees or casual/tem orary em loyees or de endents of resent/former em loyees9 etc%The following factors should be ta7en into consideration in formulating recruitment olicy%

They are?3 • • #overnment olicies 'ersonnel olicies of other com eting organiEation

-rganiEationHs ersonnel olicies • • • • !ecruitment sources !ecruitment needs !ecruitment cost Selection criteria and reference

INITIAL STEPS TO HR 4 RECRUITMENT

Fe all have heard that9 *;m loyees are assets of a com any%, ;very com any claims to follow and understand this mantra% The function of (! is all about eo le3 managing them9 hiring them9 etc% To carry out any function in a business9 be it mar7eting9 roduction9 o erations9 you need eo le% (! brings the eo le to the organiEation and its business% It is said mar7eting is romoting your roduct in the mar7et lace% Similarly9 (! is romoting and selling your com any in the mar7et% If you can romote your com any efficiently you are sure to attract eo le to wor7 for you%

;very firm whether small or large needs eo le to do even the minutest clerical wor7 for them% And when there are em loyees they need to be managed% A small/medium firm may not have a devoted (! de artment% In that case9 the owner or the manager lays the role of the (! head or the firm may hire s ecialiEed services of a (! Consultancy%

Fhereas9 large organiEations have their own (! de artment consisting of a head and staff that directly re orts to the head% The (! de artment may have further bifurcations de ending on the siEe of the firm and the number of em loyees%

Fhen we say we re"uire eo le for the functions of business9 how do we ac"uire eo le for these functionsT This is done by !;C!UIT$;NT% 8or recruitment to ha en the com any has to do a Job Analysis of the &ob to be assigned to an eligible candidate% Job Analysis is further bifurcated into 0 sub3 arts i%e%

SOURCES OF RECRUITMENT

!"INTERNAL

56 EXTERNAL

INTERNAL SOURCES OF RECRUITMENT

Internal !ecruitment is a recruitment which ta7es lace within the concern or organiEation% Internal sources of recruitment are readily available to an organiEation% Internal sources are rimarily three O Transfers9 romotions and !e3em loyment of e@3 em loyees% !e3em loyment of e@3em loyees is one of the internal sources of recruitment in which em loyees can be invited and a ointed to fill vacancies in the concern% There are situations when e@3em loyees rovide unsolicited a lications also%

4 %T!ANS8;!S
The em loyees are transferred from one de artment to another according to their efficiency and e@ erience%

0% '!-$-TI-NS
The em loyees are romoted from one de artment to another with more benefits and greater res onsibility based on efficiency and e@ erience%

> %U'#!A)IN# + );$-TI-NS
U grading and )emotion of resent em loyees according to their erformance%

<% !;TI!;) + !;T!;NC(;) ;$'L-I;;S
!etired and !etrenched em loyees may also be recruited once again in case of shortage of "ualified ersonnel or increase in load of wor7% !ecruitment of such eo le saves time and costs of the organiEations as the eo le are already aware of the organiEational culture and the olicies and rocedures%

B% );';N);NTS AN) !;LATI.;S -8 );C;AS;) ;$'L-I;;S
The de endents and relatives of )eceased em loyees and )isabled em loyees are also done by many com anies so that the members of the family do not become de endent on the mercy of others%

EXTERNAL SOURCES OF RECRUITMENT
;@ternal recruitment see7s a licants for ositions from sources outside the com any% The various e@ternal sources include?

4% 'LAC;$;NT A#;NCI;S
Several rivate consultancy firms erform recruitment functions on behalf of client com anies by charging a fee% These agencies are articularly suitable for recruitment of e@ecutives and s ecialists% It is also 7nown as !'- 5!ecruitment 'rocess -utsourcing6

0% ;$'L-I;; !;8;!!AL/!;C-$$;N)ATI-N
$any organiEations have structured system where the current em loyees of the organiEation can refer their friends and relatives for some osition in their organiEation% Also9 the office bearers of trade unions are often aware of the suitability of candidates% !ecruitment $anagement can in"uire these leaders for suitable &obs% In some organiEations these are formal agreements to give riority in recruitment to the candidates recommended by the trade union%

.7 FALA3IN9 F!IT;3INS + TALA3INS
$any &ob see7ers visit the office of well37nown com anies on their own% Such callers are considered nuisance to the daily wor7 routine of the enter rise% But can hel in creating the talent ool or the database of the robable candidates for the organiEation%

8% ;)UCATI-NAL INSTITUT;S
.arious management institutes9 engineering colleges etc% are a good source of recruiting well "ualified e@ecutives9 engineers etc% They rovide facilities for cam us interviews and lacements% This source is 7nown as Cam us !ecruitment%

97 J-B '-!TALS
Fith the advent of the Internet9 searching for candidates has ac"uired a whole new dimension% Feb ortals dedicated to finding &obs have been setu % The candidates 7ey in their details and ost their resumes% ;m loyers have to &ust browse through these resumes or use the site search engine to list out eo le with s ecific s7ills% Bharti A@a mostly uses Times &ob%com for recruiting candidates%

!"AP#$R ; <

#ATA ANAL$SIS AN# INTERPRETATION

4% Fhat is the biggest benefit of life insuranceT

SL%N4 0 > < total Analysis?
45 40 35 30 25 20 15 10 5 0 Security

!;S'-NS; Security commission 'rotection of wealth all

N- -8 !;S'-N);NTS <1 B B 1 B1

';C;NTA#; K :1 41 41 1 411

40

5

5 0

commission Protection of wealth

all

Interpretation6
The above gra h shows that the biggest benefit of life insurance is security with :1K% And the ne@t two shows the e"ual hK that is 41K benefit

06 Is there any erformance incentivesT

SL%N4 0 total

!;S'-NS; yes no

N- -8 !;S'-N);NTS <= > B1

';C;NTA#; K 2< D 411

Analysis?
50 45 40 35 30 25 20 15 10 5 0 yes 47

3 no

Inter retation?
The above gra h shows the erformance incentives are 411K given in the com any%

>6 (ow do you recruit em loyees in Bharti AXAT

SL%N4 0 > < total ANALISIS? 40 35 30 25 20 15 10 5 0
es re nc

!;S'-NS; N- -8 !;S'-N);NTS !eferences > Advertisements B Consultancy >B Fal73ins = B1

';C;NTA#; K D 41 =1 4< 411

35

3

5

7

ts

y

se m en

ta nc

ve r ti

R

INT;!'!;TATI-N? The hiring rocess in this com any is done by consultancy of >B res ondents and ne@t is through wal73ins%

Ad

C

on su l

ef e

al

!" in s

<6 (ow fre"uently you recruit em loyeesT

SL%N4 0 > < total

!;S'-NS; D months 4 year > months ;very month

N- -8 !;S'-N);NTS B 1 B <1 B1

';C;NTA#; K 41 1 41 :1 411

A-A+7SIS6

I-#$RPR$#A#I*-6 In this com any the em loyees are recruited fre"uently for every month for this the res ondents are :1K9after this > months and D months are 01K%

B6 Fhat is the range on scale of getting ma@imum + good "uality rofilesT
SL%N4 0 > < total !;S'-NS; Average #ood .ery good e@cellent N- -8 !;S'-N);NTS >B 41 B 1 B1 ';C;NTA#; K =1 01 41 1 411

A-A+7SIS6

40 35 30 25 20 15 10 5 0 Avera#e $ood %ery #ood 10 5 0 e&cellent 35

INT;!'!;TATI-N? The above gra h shows that the range of getting good "uality rofiles are average are =1K9and good are 01K and very good is shown by 41K%so no e@cellent are there%

D6 Under what criteria do you consider while screening the rofileT
SL%N4 0 > < total !;S'-NS; Age Jualification For7 e@ erience !eferences if any N- -8 !;S'-N);NTS B = >: 1 B1 ';C;NTA#; K 41 4< =D 1 411

ANALISIS?

INT;!'!;TATI-N?

The above gra h shows while screening the rofile wor7 e@ erience is given more im ortance by =DK9and ne@t by "ualification by 4<K%

=6 Fhat is the K of candidates who clear the a titude testT

SL%N4 0 > < total

!;S'-NS; 411 =1 :1 B1

N- -8 !;S'-N);NTS 1 41 >B B B1

';C;NTA#; K 1 01 =1 41 411

ANALISIS?

INT;!'!;TATI-N? The above gra h shows the K of =1K of the candidates clear the a titude test

:6 )o you normally rovide training s7ill develo ment to new recruitsT

SL%N4 0 total

!;S'-NS; yes no

N- -8 !;S'-N);NTS <0 : B1

';C;NTA#; K :< 4D 411

ANALISIS?
45 40 35 30 25 20 15 10 5 0 yes no ' 42

INT;!'!;TATI-N? The above gra h shows the training rovided to new recruits is yes by :<K and no by 4DK%so training is rovided to some e@tent%

26 (ow many ste s include in selection rocessT

SL%N4 0 > < total ANALISIS?

!;S'-NS; B D : <

N- -8 !;S'-N);NTS = 1 1 <> B1

';C;NTA#; K 4< 1 1 :D 411

INT;!'!;TATI-N?

The above gra h shows the selection rocess include mostly < and some times B%in this it shows :DK include < ste s%

416 After selection of candidates what is the time for offer releaseT

SL%N4 0 > < total

!;S'-NS; Same day >3B days 430 days = days

N- -8 !;S'-N);NTS 1 >= 41 > B1

';C;NTA#; K 1 =< 01 D 411

ANALISIS?

INT;!'!;TATI-N? The above gra h shows after selection the offer letter is given to the selected candidate in >3B days and if the candidate is good then 430 days

446 Fhat is the em loyment rate in in Bharti AXA in a yearT

SL%N4 0 > < total Analysis?

!;S'-NS; =1 :1 21 411

N- -8 !;S'-N);NTS B >B 41 1 B1

';C;NTA#; K 41 =1 01 1 411

INT;!'!;TATI-N?

The above gra h shows the em loyment rate in Bharti AXA is =1K in a year and >B are acce ted

406 Fhat is the e@ erience re"uired for (! osition in Bharti AXAT

SL%N4 0 > < total

!;S'-NS; > years < years 0 years B years

N- -8 !;S'-N);NTS B 4B 1 >1 B1

';C;NTA#; K 41 >1 1 D1 411

ANALISIS?

30 25 20 15 10 5 0 3 years 4 years 5 0 2 years 15

30

5 years

INT;!'!;TATI-N?

The e@ erience re"uired for (! osition in Bharti AXA is B years and acce ted by >1 members

4>6 Fhat is attrition rate in Bharti AXAT 5No% of em loyees leaving the com any in a year6

SL%N4 0 > < total

!;S'-NS; B1 D1 :1 >1

N- -8 !;S'-N);NTS <1 41 1 1 B1

';C;NTA#; K :1 01 1 1 411

ANALISIS?

INT;!'!;TATI-N?

The attrition rate in Bharti AXA is B1K9and acce ted by <1 members%

4<6 Fhat de artments generate the most successful em loyeesT
SL%N4 0 > < total !;S'-NS; Agency )%S%8 - erations Cab N- -8 !;S'-N);NTS 01 41 01 1 B1 ';C;NTA#; K <1 01 <1 1 411

ANALISIS?

INT;!'!;TATI-N?
The de artments that generate the successful em loyees is <1K in agency and o erations de artments

4B6 Fhat s7ill sets are re"uired to become an agent in Bharti AXAT
SL%N4 0 > < total !;S'-NS; N- -8 !;S'-N);NTS Anowledge 4B ;ducation 41 Natural mar7et 01 (ard wor7ing B B1 ';C;NTA#; K >1 01 <1 41 411

ANALISIS?

INT;!'!;TATI-N?
The above gra h shows the natural mar7et is im ortant to become an agent in Bharti AXA that shows <1K and ne@t 7nowledge is considered%

!"AP#$R ; =

FIN#IN%S AN# CONCLUSIONS & 'UESTIONNAIRE

CONCLUSION

As we 7now that =%BK of the eo les are insured that means rest 20%BK of the eo le are still living without insured% It means insurance industry is still in growth stage% But when we go to recruit life advisors of Bharti AXA most of the eo le did not agree because their view was that nobody is ready to invest in insurance% It is totally wrong erce tion of some of the eo le% -ne im ortant "uestion arises in my mind is that if more than 21K of the Indian 'eo le are not insured so why eo le are not interested to be an advisorsT The reason is that =1K of the eo le of India are living in rural areas and the awareness of rivate insurance com any in rural mar7et is very oor% But9 it was found that the "uestionnaire and interview "uestions9 em loyee manual were sufficient to obtain the information re"uired to analyEe the rocess of re"uirement within the organiEation%

It has been found that the organiEation has a sound understanding of what rocess need to be used in order to achieve effective recruitment of Life advisors %

In addition to this9 there are several recommendations for the organiEation% 8or any firm to be successful the main ob&ectives should be?

 Sustainable long3term growth9  Stable income and

 Asset reservationQ  Need to em hasiEe "uality and diversification in both e"uity and fi@ed income asset classes%  8ocus should be on long3term consistent investment erformance%  ;m hasis towards training and enhancing s7ills of recruiters needs to be more%  Invest more in current staff than in !ecruitment?  Conduct internal audit%  Be Creative  Understand and manage salary?%  The general erce tion of life insurance has to change in India before rogress is made in this field

:UESTIONNAIRE

46 Fhat is the biggest benefit of life insuranceT A6 Security B6 commission C6 rotection of wealth )6 all A 06(ow many roducts are offered in Bharti AXAT A6 < B6 > C6 B )6 0

>6 Is there any erformance incentivesT A6 Ies B6 No

<6 In all how many em loyees are wor7ing for Bharti AXAT >011 B6 Is there any targets to ma7e no% of oliciesT A6 Ies B6 No

D6 (ow fre"uently you recruit em loyeesT A6 D months B6 4 Iear C6> months

)6 ;very month

=6 (ow do you recruit themT A6 !eferences B6 Advertisements C6 Consultancy )6 Fal73ins :6 Fhat is the range on scale of getting ma@imum + good "uality A6 Average B6 #ood C6 .ery #ood )6 ;@cellent rofilesT

26 Under what criteria do you consider while screening rofileT A6 Age B6 Jualification C6 For7 ;@ erience )6 !eferences if any

416 Fhat is the K of candidates who clear the a titude testT A6 41K B6 01K C6 >1K )6 B1K

446 )o you normally rovide training s7ill develo ment to new recruitsT A6 Ies B6 No

406 If yes do you send your em loyees for e@ternal trainingT A6 Training institutes B6 wor7 sho s C6 seminars )6 none

4>6 (ow many ste s include selection ste sT A6 B B6 D C6 : )6 <

4<6 -n what s7ill sets candidates are selected in Bharti AXAT A6 Jualifications B6 Ca abilities C6 Soft s7ills )6 All the above

4B6 After selection of candidates what is the time for offer releaseT A6 Same day B6 >3B days C6 430 days )6 = days 4D6 (ow do you evaluate a candidate in his/her (! interviewT A6 A titude B6 Jualification C6 Communication s7ills )6 All

4=6 Fhat is the em loyment rate in Bharti AXA in a yearT A6 4:6 Fhat is the e@ erience re"uired for (! osition in Bharti AXAT A6 > Iears B6 < Iears C6 0 Iears )6 B Iears 426 Fhat is the attrition rate in Bharti AXAT 5Number of em loyees leaving the com any in a year6 A6 >1K B6 <1K C6 01K )6 41K 016 Fhat de artments generate the most successful em loyeesT A#;NCI 046 Fhat s7ill sets are re"uired to become an agent in Bharti AXAT C-$$UNICATI-N9 (A!) F-!AIN# 006 'lease attach the flow chart of hierarchy followed in the organiEationT

!"AP#$R ; >

SU%%ESTIONS & BIBLIO%RAP $

SUGGESTIONS ; RECOMMENDATIONS

In the < years of e@istence in the mar7et it has created a sensation by introducing its most rofitable Unit3Lin7ed 'lans and roducts% The insurer needs to concentrate to ma7e its roducts and com any much more aware among the ublic to change the mindset of the eo le and attract them towards insurance sector% This can ma7e the recruitment of the otential advisors very well% To create the awareness among the eo le9 the following methods could be ado ted?

It needs to conduct awareness rogrammers9 cam aigns and ublish news about the com any9 roducts and attributes to osition it in the customerNs mind% The com any should timely communicate through media to ma7e the relationshi stronger%

Another way of creating awareness about the resence of insurer is by lacing hoardings and osters in the traffic areas and mar7et com le@es to attract the attention of the eo le%

The awareness through the Television is another medium% Though it advertises its roduct but it should forecast itself on the channel which the ma@imum of eo le use or advertising through regional channels%

$ore than the urban as well as rural areas% It can create much more awareness among the common eo le also% The above discussed methods could be hel ful to create awareness

and thus can attract more eo le to be its customers as well as to be a good life advisor% But for this the recruitment standard and the recruitment olicy should be a good one%

The strict training schedule should be made fle@ible% 8or a erson who is -n score it is difficult for him/ her to be able to come for training es ecially in case when he/ she is already wor7ing

BIBLIOGRAPHY

Aotler 9 '%5011D69 U$ar7eting $anagementV9 40th ;dition New )elhi? 'earson 'ublishersLtd%9 g34<:34D= Coo er )%! % 9 UBusiness !esearch $ethodsV9 Tata $c#raw (ill9 New )elhi9 011D9 g34<>34<= Aothari 9 C%!5011<69 U!esearch $ethodologyV9 0nd ;dition? New Age international 'ublishers9 g32B94B0%Arrow A% 542D>69 LUncertainty and the Felfare ;conomics of $edical CareL9 American ;conomic !eview9 B>5B6?2<43 2=>)ionne 542:<69 LSearch and InsuranceL9 International ;conomic !eview9 .ol 0B5069 >B=3>D= Broachers of Bharti AXA roducts

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