AA

SEMINAR REPORT
ON

(Recruitment Process Of Bajaj Allianz for sales cader)

BY
(TUSI LUNIA)
Roll no : 5053607114
2007 - 2009
IN PARTIAL FULFILLMENT OF
MASTER OF BUSINESS ADMINISTRATION DEGREE

DISHA INSTITUTE OF MANAGEMENT AND TECHNOLOGY, RAIPUR

CERTIFICATE

This is to certify that

Miss

TUSI LUNIA of DIMAT, MBA Semester IV has

successfully completed the Seminar Report on Recruitment Process Of Bajaj

Allianz for Sales Cader in partial fulfillment of requirement for the award of
MBA Degree prescribed by the Chattisgarh Swami Vivekanand Technical
University, Bhillai.
This report is the record of authentic work carried out by the student during the
academic year 2008-09.

(Dr. J.H Vyas)

Prof. N. H. Deshpande

Internal Guide

Vice-President

(Faculty of Management)

(Faculty of Management)

DECLARATION

I Ms. TUSI LUNIA hereby declare that this seminar report on Recruitment
Process Of Bajaj Allianz for Sales Cader is the record of authentic work
carried out by me during the academic year 2008-2009

Signature of the student

(TUSI LUNIA)
Name of the student

ACKNOWLEDGEMENT
I would like to warmly thank to all my colleagues and faculties Of Disha
Institute of Management And Technology who have been enormously helpful
in guiding and assisting in the preparation of this project and helping me to
develop, my skill and knowledge as without their support this project would have
not have been accomplished.
I admit my sincere thanks to Dr. J.H Vyas faculty of DIMAT Raipur who guided
me to carry out this study. I would also like to thank him for his important
guidance and support during the course of this project.
My sincerest thanks to all my friends who gave their precious time to answer my
questions and give me required data for my project.

Place: Raipur
Date:

I NDEX
S.No.

Pt.
No.

Particular
Abstract

Page
No.
i

Acknowledgement

ii

List of figures

iii

INTRODUCTION

1.1

Objective of Study

2.1

Origin of the Organization

2.1.1

About Bajaj Group

2.1.2

About Allianz Group

2.3

IRDA Certificate

11

2.4

Tie up with Banks

11

2.5

Bajaj Allianz General Insurance Company Ltd.

12

2.6

Vision

12

10

2.7

Mission

13

11

2.8

Core Values n Achivement

13

12

2.9

Organization Structure at Management Level

15

13

2.10

Network for Reaching Customer

16

14

Recruitment Process at Bajaj Allianz Life Insurance Company Ltd.

17

15

3.1

Meaning of Recruitment

18

16

3.2

Types of Job Seekers

20

17

3.3

Recruitment Policy of the Company

21

18

3.4

External Factors Effecting Recruitment

24

19

3.5

Recent Trends in Recruitment

25

20

3.6

Recruitment Management System

27

21

3.7

Recruitment Process at Bajaj Allianz Life Insurance Company Ltd.

28

22

3.8

Arranging & Conducting Interview

30

23

3.9

Training & Development

34

24

3.10

SWOT Analysis of Bajaj Allianz

36

25

APPENDIX (leaflets, Brochures)

37

26

Bibliography

37

List of figures
2-1-1
2.1.2
2.1.3
2.1.4

Title
Bajaj allianz
Manager level
structure
Recruitment policy

Page no.
13
15
16
28

1.INTRODUCTION
1.1 OBJECTIVE OF THE STUDY
Insurance Industry is the fastest growing sector at a rapid pace in India. In this
industry every company wants to the best employees in its organization. As there
is great competition in Indian market, the every company has its own recruitment
process to increase the performance of the organization for profit maximization.
The Recruitment process plays very Important role in Insurance Industry as in
this industry human resource is the main part of the organization. In this report
we will study the RECURITMENT PROCESS OF BAJAJ ALLIANZ LIFE
INSURANCE CO. LTD.. To get the knowledge about the Insurance Industry I
have chosen Bajaj Allianz Life Ins. Co. Ltd., Raipur Branch. In this training I have
tried to find the Importance of Recruitment Process in Insurance Industry.
In the upcoming future of Insurance industry, H R Department have to emphasis
more & more on there Recruitment Process activities as the no. of companies is

increasing & the competition in the market too, in the upcoming future, So, in the
future H R Department will play an important role in recruiting the best employee
in the organization.

BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD.

2.1ORIGIN OF THE ORGANISATION:
2.1.1. ABOUT BAJAJ GROUP

The Bajaj Group is amongst the top 10 business houses in India. Its footprint
stretches over a wide range of industries, spanning automobiles (two-wheelers
and three-wheelers), home appliances, lighting, iron and steel, insurance, travel

and finance. The groups flagship company, Bajaj Auto, is ranked as the worlds
fourth largest two- and three- wheeler manufacturer and the Bajaj brand is wellknown in over a dozen countries in Europe, Latin America, the US and Asia.
Founded in 1926, at the height of India's movement for independence from the
British, the group has an illustrious history. The integrity, dedication,
resourcefulness and determination to succeed which are characteristic of the
group today, are often traced back to its birth during those days of relentless
devotion to a common cause. Jamnalal Bajaj, founder of the group, was a close
confidant and disciple of Mahatma Gandhi. In fact, Gandhiji had adopted him as
his son. This close relationship and his deep involvement in the independence
movement did not leave Jamnalal Bajaj with much time to spend on his newly
launched

business

venture.

His son, Kamalnayan Bajaj, then 27, took over the reins of business in 1942. He
too was close to Gandhiji and it was only after Independence in 1947, that he
was able to give his full attention to the business. Kamalnayan Bajaj not only
consolidated the group, but also diversified into various manufacturing activities.
The present Chairman of the group, Rahul Bajaj, took charge of the business in
1965. Under his leadership, the turnover of the Bajaj Auto the flagship company
has gone up from Rs.72 million to Rs.100.76 billion (USD 2.3 billion), its product
portfolio has expanded from one to and the brand has found a global market. He
is one of Indias most distinguished business leaders and internationally
respected for his business acumen and entrepreneurial spirit.
Bajaj Auto is the flagship of the Bajaj group of companies. The group comprises
of 27 companies and was founded in the year 1926. The companies in the group
are:
Bajaj Auto Ltd.

Mukand International Ltd.

Mukand Ltd.

Mukand Engineers Ltd.

Bajaj Electricals Ltd.

Mukand Global Finance Ltd.

Bajaj Hindustan Ltd.

Bachhraj Factories Pvt. Ltd.

Maharashtra Scooters Ltd.

Bajaj Consumer Care Ltd.

Bajaj Auto Finance Ltd.

Bajaj Auto Holdings Ltd.

Hercules Hoists Ltd.

Jamnalal Sons Pvt. Ltd.

Bajaj Sevashram Pvt Ltd.

Bachhraj & Company Pvt. Ltd.

Hind Lamps Ltd.

Jeevan Ltd.

Bajaj Ventures Ltd.

The Hindustan Housing Co Ltd.

Bajaj International Pvt Ltd.

Baroda Industries Pvt Ltd.

Hind Musafir Agency Pvt Ltd.

Stainless India Ltd.

Bajaj Allianz General Insurance Company

Ltd.
Bajaj Allianz Life Insurance Company Ltd.

Bombay Forgings Ltd.

2.1.2. ABOUT ALLIANZ GROUP

Founded in 1890, the Allianz Group is one of the
leading global services providers in insurance,
banking and asset management. With approximately 181,000 employees
worldwide the Allianz Group serves more than 80 million customers in about 70
countries.The Allianz Group is one of the leading global services providers in
insurance, banking and asset management.
With 181,124 employees worldwide (as of June 30, 2008), the Allianz
Group serves more than 80 million customers in about 70 countries. On the
insurance side, Allianz is the market leader in the German market and has a
strong international presence. In fiscal 2007 the Allianz Group achieved total
revenues of over 102 billion euros. Allianz is also one of the worlds largest asset

managers, with third-party assets of 765 billion euros under management at year
end 2007.
In 2006 Allianz SE, the parent company, became the first company in the Dow
Jones EURO STOXX 50 Index to adopt the legal form of a Societas Europaea,
which is a new European legal form for stock corporations. Allianz SE is
headquartered in Munich, Germany.
Beyond the quality of our financial performance, a number of other activities and
factors are important for the sustainable growth of our competitive strength and
company value. These include, but are not limited to, our global diversification,
the reduction of complexity, our value-based management approach, and our
crucially important employees.

2.2. BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD.

Bajaj Allianz Life Insurance Company Limited is a Union between Allianz SE, one
of the largest Life insurance companies and Bajaj Auto, one of the biggest 2- & 3manufacturers in the world.
Allianz SE is a leading Insurance conglomerate globally and one of the largest
asset in the world, managing assets worth over a Trillion Euros (over R.
55,00,000 crores) SE has over 115 years of financial experience in over 70
countries.
Bajaj Auto is one of the most trusted name in Indian auto for over 55 years. At
Bajaj customer delight is our guiding principal. Ensuring world-class solutions by
offering customer products with transparent benefits, supported by best
technology is our business philosophy.

10

Accelerated Growth
Fiscal year

No. of policies sold in New Business in FY

FY

2001-2002(6

21,376

2002-2003

1,15,965

69

2003-2004

1,86,443

180

2004-2005

2,88,189

857

2005-2006

7,81,685

2717

2006-2007

20,79,217

4270

mths)

2.3. IRDA CERTIFICATE

2.4. Tie Ups with Banks

11

2.5. BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD.

Bajaj Allianz General Insurance Company Limited is a joint venture between
Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz
SE. Both enjoy a reputation of expertise, stability and strength.
Bajaj Allianz General Insurance received the Insurance Regulatory and
Development Authority (IRDA) certificate of Registration on 2nd May, 2001 to
conduct General Insurance business (including Health Insurance business) in
India. The Company has an authorized and paid up capital of Rs 110 crores.
Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE.
As on 31st March 2008, Bajaj Allianz General Insurance maintained its premier
position in the industry by garnering a premium income of Rs. 2578 crore,
achieving a growth of 43 % over the last year.Bajaj Allianz has made a profit
before taxes of Rs. 167 crore and is the first company to cross the Rs.100 crores
mark in profit after tax by generating Rs. 105 crores.

12

In the first quarter of 2008-09, the company garnered a gross premium of

Rs.733.53 crores against Rs.573.73 core last year for the same period
registering a growth of 28%.
Bajaj Allianz today has a countrywide network connected through the latest
technology for quick communication and response in over 200 towns spread
across the length and breadth of the country. From Surat to Siliguri and Jammu
to Thiruvananthapuram, all the offices are interconnected with the Head Office at
Pune.
2.6. VISION
To be the first choice insurer for customers
To be the preferred employer for staff in the insurance industry.
To be the number one insurer for creating shareholder value
2.7 MISSION
As a responsible, customer focused market leader, we will strive to understand
the insurance needs of the consumers and translate it into affordable products
that

deliver

value

for

money.

A Partnership Based on Synergy Bajaj Allianz General Insurance offers technical

excellence in all areas of General and Health Insurance as well as Risk
Management. This partnership successfully combines Bajaj Auto's in-depth
understanding of the local market and extensive distribution network with the
global experience and technical expertise of the Allianz Group. As a registered
Indian Insurance Company and a capital base of Rs. 110 crores, the company is
fully licensed to underwrite all lines of general insurance business including
health insurance.

13

2.8. CORE VALUES

Customer First Always: Give first
priority to customer needs. Look to
build enduring relationships with
customers - internal and external.
Differences
communicated

should
in

the

be
spirit

of

relationship building
Organization Above

Self: We

believe that individual, team and

department actions will be driven
by organization goals
Trust: We believe that there cannot be teamwork without mutual trust. Trust is
fundamental to our business and will guide all internal and external interactions
High Standards: We believe that excellence can be achieved only by setting
benchmarks that challenge our full potential as an organization and as individuals
Shared Ownership: We believe that ownership of success or failure in achieving
organizational or team goals is shared by all
Spirit of Adventure: Uncertainty is our business and we believe in continuous
innovation and creativity to meet challenges head-on. We will foster a work
culture that promotes risk taking and entrepreneurship
Respect for Diversity: We believe that diversity is our strength and it needs to
be nurtured. We recognize that team members have varying backgrounds,

14

competencies and ideas and constructive action results only when opinions are
aired and understood

ACHIEVEMENTS
Bajaj Allianz has received "iAAA rating, from
ICRA Limited, an associate of
CEO

(KAMAL
GOYAL)
Moody's Investors Services, for Claims
Paying
Ability.This rating indicates
highest claims paying ability and a fundamentally strong position.

ZONAL
MANAGER (ZM)
REGIONAL
MANAGER (RM)
MANAGER
2.9 . ORGANISATION STRUCTURE STATE
AT MANAGEMENT
LEVEL
(SM)

DIVISIONAL
MANAGER (DM)
BRANCH
MANAGER (BM)

MARKETING
DEPARTMENT
MANAGER

HUMAN
RESOURCE
DEPARTMENT
MANAGER

SALES
MANGERS
15

INSURANCE
CONSULTANT

ADMINISTRATI
ONDEPARTMEN
T MANAGER

BajajAllianz
AllianzLife
Life
Bajaj
Insurance
Insurance
DistributionNetwork
Network
Distribution
2.10. NETWORK FOR REACHING CUSTOMERS

AgencyChannel
Channel
Agency

Bancassurance
assurance
Banc

Group&
&Alternate
Alternate
Group
Channel
Channel

Strong Branch Network of 900+ Branches & Growing

Over 10000+ Sales Team Managers
200,000+ Insurance Care Consultants
Standard Chartered

Standard Chartered
Bank
170+ Bancassurance Partners across the Bank
country
Branches(257)
(257)
Branches

EmployeeBenefit
Benefit
Employee

Strong alternate channel with 2200 Franchisees, 200 corporate agents, 74

SyndicateBank
Bank
brokers & 28 direct marketing branches
Syndicate

CorporateAgents
Agents
Corporate

Satellites(643)
(643)
Satellites
GEMoney
Money
GE

Over2,00,000
2,00,000Strong
Strong
Over
TiedAgency
Agencyforce
force&
&
Tied
growingrapidly
rapidly
growing
everyday
day
every

UrbanCo-op.
Co-op.Bank
Bank
Urban
Dist.Co.-op.
Co.-op.Bank
Bank
Dist.
RegionalRural
RuralBanks
Banks
Regional
Cateringto
tomass
mass&
&
Catering
16
ruralmarkets
markets
rural

Franchisees
Franchisees

DirectMarketing
Marketing
Direct

Brokers
Brokers

3.

RECRUITMENT

PROCESS

AT

BAJAJ

ALLIANZ

LIFE

INSURANCE COMPANY LTD.

Recruitment is an important part of an
organizations human resource planning
and their competitive strength. Competent
human resources at the right positions in
the organisation are a vital resource and
can be a core competency or a strategic
advantage

for

it.

The objective of the recruitment process is to obtain the number and quality of
employees that can be selected in order to help the organisation to achieve its
goals and objectives. With the same objective, recruitment helps to create a pool
of prospective employees for the organisation so that the management can

17

select the right candidate for the right job from this pool. Recruitment acts as a
link between the employers and the job seekers and ensures the placement of
right candidate at the right place at the right time. Using and following the right
recruitment processes can facilitate the selection of the best candidates for the
organisation.
In this is competitive global world and increasing flexibility in the labour market,
recruitment is becoming more and more important in every business. Therefore,
recruitment serves as the first step in fulfilling the needs of organisations for a
competitive, motivated and flexible human resource that can help achieve its
objectives.
Employee attrition and retention of talented employees has been a significant
issue not only for your Company but for all companies in the corporate and noncorporate sectors. Never before in recent history has it been more difficult to
attract and retain talent. The insurance industry, post liberalization in 2001, is
also in a nascent stage and people with specialized skills in insurance are no
longer available in the market in the numbers required to meet demands of
growth. The emergence of new companies into the general insurance space in
India is expected to keep attrition at high levels.

In a scenario like this, your Company has focused on creating and sustaining a
culture, which is transparent and performance driven. Aligned with this is also a
dedicated focus on investing in training and development of employees so that
they acquire skills relevant to the business. Your company continues to have an
excellent brand image amongst prospective employees due to its reputation for
fairness. Several initiatives of your company for development of the employees
have been well accepted by existing as well as potential employees. The Young
18

Leaders program has supplemented the Accelerated Development Programme

for middle management and the Junior Management Program for executive staff.
The STRIDE program gives high performing employees at executive level to
seek promotions to a managerial role through a rigorous process
of identification and selection. The Talent Management System, which identifies
employees who are high performers and who are critical resources, is now an
integral part of your Companys human resources program. Your Company also
sends staff on external training programs within India and abroad, when the need
arises. The Company also has in place a long-term retention plan for key
employees.

3.1. MEANING OF RECRUITMENT

According to Edwin B. Flippo, Recruitment is the process of searching the
candidates for employment and stimulating them to apply for jobs in the
organisation. Recruitment is the activity that links the employers and the job
seekers. A few definitions of recruitment are:
A process of finding and attracting capable applicants for employment.
The process begins when new recruits are sought and ends when their
applications are submitted. The result is a pool of applications from which
new employees are selected.
It is the process to discover sources of manpower to meet the requirement
of staffing schedule and to employ effective measures for attracting that
manpower in adequate numbers to facilitate effective selection of an
efficient working force.
Recruitment of candidates is the function preceding the selection, which helps
create a pool of prospective employees for the organisation so that the
management can select the right candidate for the right job from this pool. The
main objective of the recruitment process is to expedite the selection process.

19

Recruitment is a continuous process whereby the firm attempts to develop a pool

of qualified applicants for the future human resources needs even though specific
vacancies do not exist. Usually, the recruitment process starts when a manger
initiates an employee requisition for a specific vacancy or an anticipated vacancy.

RECRUITMENT NEEDS ARE OF THREE TYPES

PLANNED
i.e. the needs arising from changes in organization and retirement policy.
ANTICIPATED
Anticipated needs are those movements in personnel, which an organization can
predict by studying trends in internal and external environment.
UNEXPECTED
Resignation, deaths, accidents, illness give rise to unexpected needs.

3.2. TYPES OF JOB SEEKERS

1.Quid-Pro-Que
These are the people who say that I can do this for you, what can you give me
These people value high responsibilities, higher risks, and expect higher
rewards, personal development and company profiles doesnt matter to them.
2. I will be with you

20

These people like to be with big brands. Importance is given to brands. They are
not bothered about work ethic, culture mission etc.
3. I will do you what you want
These people are concerned about how meaningful the job is and they define
meaning

parameters

criteria

known

by

previous

job.

4. Where do you want me to come

These people observe things like where is your office, what atmosphere do you
offer. Career prospects and exciting projects dont entice them as much. It is the
responsibility of the recruiter to decide what the employee might face in given job
and thus take decision. A good decision will help cut down employee retention
costs and future recruitment costs.
3.3. RECRUITMENT POLICY OF THE COMPANY
Recruitment Policy
Bajaj Auto is an equal opportunity employer. Selection is based strictly on
individual merit.
A large number of our recruits are fresh engineers and MBAs. Natural attrition is
usually taken care of by promotions and horizontal movements within the
organisation to provide career opportunities for our employees. Occasionally,
specific skill-sets may warrant lateral recruitment.
Entry level Recruitment
Engineers: We recruit Engineering Graduates from reputed institutes from all
over India. Bajaj Auto enjoys an excellent reputation with all National Institutes of
21

Technology (NITs) and is among the preferred employers for on-campus

recruitment. The selection process comprises a written test in technical,
analytical and logical reasoning, group discussion and personal interview.
Management Graduates: We recruit management graduates from reputed
management institutes all over India. The selection procedure comprises a
written test in analytical and logical reasoning, group discussion and personal
interview.
All entry-level selections are made through on-campus recruitment only.
After recruitment, new entrants undergo a thorough induction-training programme
before their placement in the company. Departments are allocated on the basis
of the individual recruits aptitude and our requirements. Usually, after completing
two years of service they are provided opportunities for job-rotation.
Work Culture
Our work culture supports and enhances our brand. The Bajaj brand signifies
excitement. Bajaj strives to inspire confidence through excitement engineering.
The culture is built on core values of learning, innovation, perfection, speed and
transparency. Facilitative leadership style helps in developing leaders at all levels
and

establishes

accountability.

Our Brand Values

We live our brand by its values of Innovation, Perfection, and Speed. Bajaj will
be distinctly ahead through excitement engineering. Innovation is how we
create the future. It is a value that provokes us to reach beyond the obvious in
pursuit

of

that

which

exceeds

the

ordinary.

Perfection is how we set new standards. It is a value that exhibits our

determination to excel by endeavoring to establish new benchmarks all the time.
Speed

is

how

we

convey

clear

conviction.

It is a value that keeps us sharply responsive, mirroring our commitment towards

our goals and processes.

22

Competency Building
Bajaj Auto has a very flat organisation structure with three management levels.
Each level represents a specific role and hence needs relevant competencies.
Competency building at Bajaj Auto is a combination of development for current
and future roles.
We cater to these needs by using interventions like development centres, needbased training and job-rotation plans. We use different methods of imparting
training like lectures, group-discussions, role-plays, seminars, outbound training,
assignments and on-the-job tasks.
Compensation Philosophy
We strive to be amongst the top quartile in our compensation structure.
Competence and performance are the key drivers of our compensation policy. A
significant part of the compensation is in the form of variable pay linked to the
individuals and the organisations performance.
In todays rapidly changing business environment, a well defined recruitment
policy is necessary for organizations to respond to its human resource
requirements in time. Therefore, it is important to have a clear and concise
recruitment policy in place, which can be executed effectively to recruit the best
talent pool for the selection of the right candidate at the right place quickly.
Creating a suitable recruitment policy is the first step in the efficient hiring
process. A clear and concise recruitment policy helps ensure a sound
recruitment

process.

It specifies the objectives of recruitment and provides a framework for

implementation of recruitment programme. It may involve organizational system

23

to be developed for implementing recruitment programmes and procedures by

filling up vacancies with best qualified people.

COMPONENTS OF THE RECRUITMENT POLICY

The general recruitment policies and terms of the organisation
Recruitment services of consultants
Recruitment of temporary employees
Unique recruitment situations
The selection process
The job descriptions
The terms and conditions of the employment
A recruitment policy of an organization should be such that:
It should focus on recruiting the best potential people.
To ensure that every applicant and employee is treated equally with
dignity and respect.
Unbiased policy.
To aid and encourage employees in realizing their full potential.
Transparent, task oriented and merit based selection.
Weightage during selection given to factors that suit organization
needs.
Optimization of manpower at the time of selection process.
Defining the competent authority to approve each selection.
Abides by relevant public policy and legislation on hiring and
employment relationship.
Integrates employee needs with the organisational needs.

24

FACTORS AFFECTING RECRUITMENT POLICY

Organizational objectives
Personnel policies of the organization and its competitors.
Government policies on reservations.
Preferred sources of recruitment.
Need of the organization.
Recruitment costs and financial implications.

3.4. EXTERNAL FACTORS AFFECTING RECRUITMENT

The external forces are the forces which cannot be controlled by the
organization.

The

major

external

forces

are:

1. SUPPLY AND DEMAND

The availability of manpower both within and outside the organization is an
important determinant in the recruitment process. If the company has a demand
for more professionals and there is limited supply in the market for the
professionals demanded by the company, then the company will have to depend
upon internal sources by providing them special training and development
programs.
2. LABOUR MARKET
Employment conditions in the community where the organization is located will
influence the recruiting efforts of the organization. If there is surplus of manpower
at the time of recruitment, even informal attempts at the time of recruiting like
notice boards display of the requisition or announcement in the meeting etc will
attract more than enough applicants.

25

3. IMAGE / GOODWILL
Image of the employer can work as a potential constraint for recruitment. An
organization with positive image and goodwill as an employer finds it easier to
attract and retain employees than an organization with negative image. Image of
a company is based on what organization does and affected by industry. For
example finance was taken up by fresher MBAs when many finance companies
were coming up.
4. POLITICAL-SOCIAL- LEGAL ENVIRONMENT
Various government regulations prohibiting discrimination in hiring and
employment have direct impact on recruitment practices. For example,
Government of India has introduced legislation for reservation in employment for
scheduled castes, scheduled tribes, physically handicapped etc. Also, trade
unions play important role in recruitment. This restricts management freedom to
select those individuals who it believes would be the best performers. If the
candidate cant meet criteria stipulated by the union but union regulations can
restrict recruitment sources.
5. UNEMPLOYMENT RATE
One of the factors that influence the availability of applicants is the growth of the
economy (whether economy is growing or not and its rate). When the company is
not creating new jobs, there is often oversupply of qualified labour which in turn
leads to unemployment.
6. COMPETITORS
The recruitment policies of the competitors also effect the recruitment function of
the organisations. To face the competition, many a times the organisations have

26

to change their recruitment policies according to the policies being followed by

the competitors.

3.5. RECENT TRENDS IN RECRUITMENT

The following trends are being seen in recruitment:
1. OUTSOURCING
In India, the HR processes are being outsourced from more than a decade
now. A company may draw required personnel from outsourcing firms. The
outsourcing firms help the organisation by the initial screening of the
candidates according to the needs of the organisation and creating a suitable
pool of talent for the final selection by the organisation. Outsourcing firms
develop their human resource pool by employing people for them and make
available personnel to various companies as per their needs. In turn, the
outsourcing firms or the intermediaries charge the organisations for their
services.
Advantages of outsourcing are:
Company need not plan for human resources much in advance.
Value creation, operational flexibility and competitive advantage
turning the management's focus to strategic level processes of HRM
Company is free from salary negotiations, weeding the unsuitable
resumes/candidates.
Company can save a lot of its resources and time
2. POACHING/RAIDING
Buying talent (rather than developing it) is the latest mantra being followed
by the organisations today. Poaching means employing a competent and
experienced person already working with another reputed company in the

27

same or different industry; the organisation might be a competitor in the

industry. A company can attract talent from another firm by offering attractive
pay packages and other terms and conditions, better than the current
employer of the candidate. But it is seen as an unethical practice and not
openly talked about. Indian software and the retail sector are the sectors
facing the most severe brunt of poaching today. It has become a challenge for
human resource managers to face and tackle poaching, as it weakens the
competitive strength of the firm.
3. E-RECRUITMENT
Many big organizations use Internet as a source of recruitment. Erecruitment is the use of technology to assist the recruitment process. They
advertise job vacancies through worldwide web. The job seekers send their
applications or curriculum vitae i.e. CV through e mail using the Internet.
Alternatively job seekers place their CVs in worldwide web, which can be
drawn by prospective employees depending upon their requirements.
Advantages of recruitment are:
Low cost.
No intermediaries
Reduction in time for recruitment.
Recruitment of right type of people.
Efficiency of recruitment process.
3.6. RECRUITMENT MANAGEMENT SYSTEM
Recruitment management system is the comprehensive tool to manage the
entire recruitment processes of an organisation. It is one of the technological
tools facilitated by the information management systems to the HR of
organisations. Just like performance management, payroll and other systems,

28

Recruitment management system helps to contour the recruitment processes

and effectively managing the ROI on recruitment.
The features, functions and major benefits of the recruitment management
system are explained below:
Structure and systematically organize the entire recruitment processes.
Recruitment management system facilitates faster, unbiased, accurate
and reliable processing of applications from various applications.
Helps to reduce the time-per-hire and cost-per-hire.
Recruitment management system helps to incorporate and integrate the
various links like the application system on the official website of the
company, the unsolicited applications, outsourcing recruitment, the final
decision making to the main recruitment process.
Recruitment management system maintains an automated active
database of the applicants facilitating the talent management and
increasing the efficiency of the recruitment processes.
Recruitment management system provides and a flexible, automated and
interactive

interface

between

the

online

application

system,

the

recruitment department of the company and the job seeker.

Offers tolls and support to enhance productivity, solutions and optimizing
the recruitment processes to ensure improved ROI.
Recruitment management system helps to communicate and create
healthy relationships with the candidates through the entire recruitment
process.
The Recruitment Management System (RMS) is an innovative information
system tool which helps to sane the time and costs of the recruiters and
improving the recruitment processes.

29

3.7. RECRUITMENT PROCESS AT

BAJAJ

ALLIANZ

LIFE

INSURANCE COMPANY LTD.

The recruitment and selection is the major function of the human resource
department and recruitment process is the first step towards creating the
competitive strength and the strategic advantage for the organisations.
Recruitment process involves a systematic procedure from sourcing the
candidates to arranging and conducting the interviews and requires many
resources and time. A general recruitment process is as follows:
1. IDENTIFYING THE VACANCY
The recruitment process begins with the human resource department receiving
requisitions for recruitment from any department of the company. These contain:
Posts to be filled
Number of persons
Duties to be performed
Qualifications required
2. Preparing the job description and person specification.
3. Locating and developing the sources of required number and type of
employees
(Advertising etc).
4. Short-listing and identifying the prospective employee with required
characteristics.
5. Arranging the interviews with the selected candidates.
6. Conducting the interview and decision making.

Identify vacancy
Prepare job description and person specification
Advertising the vacancy
Managing the response
Short-listing
Arrange interviews
Conducting interview and decision making

30

Conducting
interview and
decision making

Identify vacancy

Prepare job
description and
person Specification

Arrange
interviews

Advertising the
vacancy

Short-listing
Managing the
response

ADVERTISING THE VACANCY

It is the main part of the recruitment process. Through various media of
advertising the vacancy in the organization is float in the market. Then the
candidates who are eligible for the job, who are meeting the requirements of the
job description & job specification approaches towards the job by seeing those
ads. Advertisement can be done through several media such as:
Newspapers
WOM etc.

SHORT LISTING

31

Short listing in Bajaj Allianz on the basis of some points:After receiving the application form candidates will short listed.
Candidate should be graduate.
Should have the experience of working in any sales.
Should be 18yrs above.
If he/she has the all requirements then he/she will be short listed for further
process.
3.8. ARRANGE & CONDUCTING INTERVIEW
The Interview Process
Many

job

applicants

misrepresent

their

true

status,

background and experience. This is true for both upper and

lower entry employees. One survey reported by Inc. magazine
indicates the following about job applicants:
15% of all job applicants falsify academic qualifications.
10% falsely upgrade their academic qualifications.
35% claim specific achievements or experiences that are untrue.
70% indulge in puffery (upgrading the importance of achievements).
12% have some kind of criminal record, including serious automobile
convictions.
These statistics define the need of a sound recruitment process. The beginning
of a powerful employer-employee relationship begins with the hiring process. The
value of placing your efforts and resources into the hiring process cannot be
overstated.
Interview Tips for Interviewers:
Make notes of the questions you intend to ask.
Decide the essential things you need to learn and prepare questions to
probe them.

32

 Plan the environment - privacy, no interruptions, ensure the interviewee

is looked after while they wait.
Put the interviewee at ease - it's stressful for them, so do not make it
any worse.
Begin by explaining clearly and concisely the general details of the
organization and the role.
Ask open-ended questions
Make sure the interviewee does 90% of the talking.
High pressure rarely exposes hidden issues - calm, relaxed, gentle,
clever questions do.
Probe the CV/resume/application form to clarify any unclear points.
If possible, and particular for any position above first-line, use some
form of psychometric test, or graphology, and have the results available
for the interview, so you can discuss them with the interviewee.
The Interview Process
Employers can avoid most hiring mistakes by simply spending a little more time
preparing for the interview in advance. To do a wonderful job of preparing for
interviewing and present one's company professionally the following points must
be

considered:

Before the Interview

1) Determine your options - Which skills are vital as opposed to convenient.
2) If other people are going to be involved in the interview process, make sure
they have taken the time to prepare for the interview. Each person should have a
couple of overlap questions to provide insight on the prospective employee's
responses.
3)
4)

Have
Allow

company
plenty

information
of

time

33

available
for

for
the

candidates.
interview.

5)

Have

detailed

information

about

the

candidate.

During the Interview

1)

Interview

the

person,

not

the

skill

set.

Ask questions that are, broad, open-ended, job-related, objective, meaningful,

direct,
2)
3)

clear,
Be

Tell

open
the

understood
and

candidate

honest

what

to

&
with

expect

in

related.
the
the

candidate.
hiring

process.

4) Tell them your expectations: career advancement, training, duties, experience

expected,

the

direction

the

department

is

headed

in.

5) Show the candidate where they would fit into the organization.
6)

Don't

talk

money.

Closing the Interview

1) Insure that you and the candidate have concluded on common ground.
2)

Ask

if

she/he

has

any

other

questions.

3) At the end of the interview, if you are interested in the candidate, let them
know.
4) Review the next steps with a clear and honest timetable (and stick to it).
5) Be friendly and honest to the end of the interview; don't give false
encouragement

or

go

into

details

for

rejection.

After the Interview

1) Take time to update the next person in the interview process.
2) Discuss the candidates reaction and interest.
3) Rate the applicant on a 1-5 scale as a potential employee.
Arrangement of interview in bajaj allianz is done in following manner.

34

1. SHORT LIST THE ELIGIBLE CANDIDATE

2. INTERVIEW WITH BRANCH MANAGER
3. INTERVIEW WITH INTERVIEW WITH AREA MANAGER
4. INTERVIEW WITH H.R MANAGER
5. SELECTION & HIRE THE CANDIDATE
Some of the posts related to sales in Bajaj Allianz are:
junior sales managers
assistant sales managers
sales managers
senior sales managers
executive sales manager
mentor sales managers
There are some conditions to continue the person as a sales manager:
After selection they have 3 months to give their performance.
These three months are their promotion period.
Within these three months they have to make at least 25 agents .
Then only they will be allowed to continue with the work.

Recruitment process for Agents in Bajaj Allianz is done in following steps:

1. IDENTIFY THE VACANCY
2. SHORT LISTING
3. WRITTEN EXAM
4. ALLOW THE LICENCE

To make the agents, sales manager can give paper adds.

35

 Sales managers can distribute the pamplets.

They can conduct the seminar.
They can draw the attention of the people by telling the profits of
becoming an agent.

If a person is ready then he/she will have to face the interview with the branch
manager.
Eligibility for agents.
If the candidate is from country side then:1) He/she should be 18 yrs above.
2) He/she should be 10th pass.
3) If he/ she from city should be 12th pass.
4) He/she should fill the examination form of IRDA of III.
5) He/she should attend the 50hrs or 9 days training.
After all these they have to take a written exam. After this exam he/she
considered worthy of the licence and then only they are allowed to sell the
policy. To selling these policies agent gets commission with different plan.
The commission may swing from 5-40%. They get the renewal commission
on the payed renewal in coming years.
3.9. TRAINING & DEVELOPMENT
Human Resource Management (HRM), a relatively new term, that emerged
during the 1930s. Many people used to refer it before by its traditional titles, such
as Personnel Administration or Personnel Management. But now, the trend is
changing. It is now termed as Human Resource Management (HRM). Human

36

Resource Management is a management function that helps an organization

select, recruit, train and develops.
HUMAN RESOURCE MANAGEMENT

Human Resource Management is defined as the people who staff and manage
organization. It comprises of the functions and principles that are applied to
retaining, training, developing, and compensating the employees in organization.
It is also applicable to non-business organizations, such as education,
healthcare, etc Human Resource Management is defined as the set of activities,
programs, and functions that are designed to maximize both organizational as
well

as

employee

effectiveness.

Scope of HRM without a doubt is vast. All the activities of employee, from the
time of his entry into an organization until he leaves, come under the horizon of
HRM.
The divisions included in HRM are Recruitment, Payroll, Performance
Management, Training and Development, Retention, Industrial Relation, etc. Out
of all these divisions, one such important division is training and development.

TRAINING AND DEVELOPMENT

is a subsystem of an organization. It ensures that randomness is reduced and
learning

or

behavioral

change

takes

37

place

in

structured

format.

3.10. SWOT ANALYSIS OF BAJAJ ALLIANZ

Strengths
First entrant advantage in Raipur.
Well equipped store with latest technologies (SAP).
Discount offers through out the year.
Strong supply chain Management.

Weaknesses
Market not well protected due to the local market.
Consumer awareness about the hyper market

38

 Poor sales promotion for private brands

Market not adequately covered
Store location

Opportunities
A large market with a good potential for retailing.
Consumers can be tapped through proper education about hyper
market.
A wide range of private brands in each particular segment
They can attract more consumers by proper promotion activities.

Threats
Establishment of more private organized players in retail sector.
Flexible Trade Policies of Local vendors

8. BIBLIOGRAPHY
Kothari, C.R., Wishwa Prakashan, New Delhi.
Shiffman, Lion. G., and Kanuk, L. L.; Consumer Behaviour,
Pearson Education (Singapore) Pvt. Ltd., (Pg. No. 251-280).
Eighth Edition.

URLs Visited

39

 http://www.google.co.in for searching information on recruitment

process
http://www. bajajallianzlife.co.in

for information of company

profile
http://www.google.co.in for searching history of insurance
sector

40