bajaj aliance
TRANSCRIPT
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PREFACE
Marketing should not be looked upon in a vacuum or in isolation. It
is an essence taking a view of the whole business organization and its
ultimate objective concern for marketing must penetrate all areas of the
enterprise. Market survey in todays competitive world is a must for every
organization.
This project is a study of market potential of TATA !". The
rational behind this particular study is to find out the present market
scenario of various brands # to find out the corporate need and perception.
It was a pleasurable e$perience to conduct a research on behalf of TATA
!" pertaining to the study of the Tea ector.
%onclusion and there by recommendation has been arrived at by
proper and justified interpretation of the result derived from the above said
analytical tools and techni&ues.
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ACKNOWLEDGEMENT
Preparing a project of this nature is an arduous task and I was
fortunate enough to get support from a large number o persons. I wish to
express my deep sense of gratitude to all those who generously helped in
successful completion of this report by sharing their invaluable time and
knowledge.
It is my proud and previledge to express my deep regards to
Respected , Head of epartment r.Pramesh !autam, "iss Preeti #hukla
epartment of $usiness "anagement , #wami %ivekanand Institute of
&echnology, 'ollege #agar for allowing me to undertake this project.
I feel extremely exhilarated to have completed this project under the
able and inspiring guidance of "iss Preeti #hukla "iss. Ritu (hatri He
rendered me all ossible help me guidance while reviewing the manuscript
in finalising the report.
I also extend my deep regards to my teachers , family members ,
friends and all those whose encouragement has infused courage in me to
complete to work successfully.
(PRATHAM THAKUR)
B.B.A I Sem
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DELCLARATION BY THE CANDIDATE
I declare that the project report titled " Market Strategies o Tata
Sk! " on Market egmentation is nay own work conducted under the
supervision of MissPreeti S#$k%a 'epartment of (usiness Management )
wami *ivekanand Institute of Technology %ollege) agar To the best of
my knowledge the report does not contain any work ) which has been
submitted for the award of any degree ) anywhere.
ate
+,-ATAM TA!/-0
(.(.A I em
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CERTIFICATE
The project report titled " Market Strategies o Tata Sk! "
been prepared by ,ratham Thakur ((A I emester ) under the guidance
and supervision of Miss Preeti S#$k%a or the partial fulfillment of the
'egree of (.(.A.
Signature of the Signature of the Signature of the
Supervisor Head of the
epartment
!"aminer
CONTENTS
TOPIC TITLE PAGE
NO
& I1T-2'/%TI21 23 T4 %2M,A1"
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'
2(54%TI*4 23 T4 T/'"
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( -44A-% M4T2'2627"
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INTROD-CTION
In this project I have studied -ecruitment and election
process of Ba.a. A%%ia/0 Lie I/s$ra/1e Co23a/! Li2ite4 and
attempted to provide some ways so as to make recruitment more
effective and to reduce the cost of hiring an employee.
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I am privileged to be one of the students who got an
opportunity to do my training with (ajaj Allianz 6ife Insurance
%ompany 6imited My involvement in the project has been very
challenging and has provided me a platform to leverage my potential
in the most constructive way.
(ajaj Allianz 6ife Insurance is one of India8s leading financial
institutions offering complete financial solutions that encompass
every sphere of life. In a short span of time) (ajaj Allianz has set an
e$ample by having a steady and confident journey to growth and
success.
'uring the training period I have studied deeply the process of
hiring in (ajaj Allianz 6ife Insurance and did a 92T analysis of
(ajaj Allianz 6ife Insurance to find out the e$isting shortcomings
and potential threats and thereby recommended suggestions.
This project however is an attempt to share as best as possible
my e$perience in corporate world with all my colleagues and my
faculty.
COMPANY PROFILE
BA5A5 A%%ia/0 Lie I/s$ra/1e Co23a/! is a joint venture
between two leading conglomerates) Ba.a. A$to Li2ite4) one of
largest manufactures of motorcycles and scooters in the world) and
A%%ia/0 AGof 7ermany one of the largest insurance companies.
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COMPANY HISTORY
BA5A5 A%%ia/0 Lie I/s$ra/1e Co23a/! is a joint venture
between two leading conglomerates) Ba.a. A$to Li2ite4) one of
largest manufactures of motorcycles and scooters in the world) and
A%%ia/0 AGof 7ermany one of the largest insurance companies.
(ajaj Allianz 6ife Insurance %o. 6td. was incorporated on :;th
March ;
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ALLIAN9 AG
3ounded in :DC< in (erlin) Allianz is now present in over E)>@B cr.
=rd largest Assets /nder Management +A/M0 # largest amongst
Insurance cos. A/M of -s.@:)C>)C@C cr.
:;th largest corporation in the world
BC.D ? of global business from 6ife Insurance
4stablished in :DC
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CHILD CARE
Taking care of a child is perhaps the most important job a parent can
have. It is but natural that you would like to give your child your
best) and therefore) this is the time when careful financial planning
can help you fulfill the aspirations that you have for your children.
The (ajaj Allianz G%hild %areH olutions help you to enjoy the joys
of parenthood responsibly) with the reassurance of a secure futurefor your child.
CHILD CARE PLAN OFFERS
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%hild %are plan is a children money back plan with profit. (ajaj
Allianz %hild %are offers a wide array of solutions that allows you to
plan for your childs future by providing you with as many as B
distinct and uni&ue options.
:. %hild %are ;:
;. %hild %are ;B
=. %hild %are ;: ,lus
B. %hild %are ;B ,lus
START OF LIFE BENEFIT
This is a uni&ue feature of (ajaj Allianz G%hild %areH ;: ,lus
# ;B ,lus. These packages offer you the choice of providing a
uni&ue tart of 6ife (enefit for your child. 3or a nominal amount) an
additional um Assured subject to a ma$imum limit of -s.:< 6acks
will become payable to enable the child start hiher professional life
smoothly) in case of an unfortunate death or Accidental ,ermanent
Total 'isability of the ,olicy holder during the term of the policy.
This benefit will not be available in the event of accidental
permanent total disability after age >@ of the policy holder.
IN:B-ILT BENEFITS
A; PREMI-M WAI
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the event of accidental permanent total disability after age >@ of the
policy holder.
B; FAMILY INCOME BENEFIT=
In case of death or accidental total permanent disability of the
policy holder during the term of the policy) a monthly income
benefit of :? of the sum assured +:;? per annum0 becomes payable
till the end of the policy term +subject to a ma$imum of -s. :);
O?.e1ti8e O T#e St$4!
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,-IMA-" 2(54%TI*4
To know about financial position of (ajaj Aliance Insurance.
To !now about 3inancial performance of (ajaj Aliance
Insurance.
4%21'A-" 2(54%TI*4
To !now about the 4mploy Apportunity in (ajaj Aliance
Insurance.
RESEARCH METHODOLOGY
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RESEARCH DESIGN
A research design is a framework or blueprint for conducting the
marketing research project. It specifies the details of the procedures
necessary for obtaining the information needed to structure andor solve
marketing research problem.
2n the basis of fundamental objectives of the research we can classify
research design into two general typesJ
&; E@PLORATORY RESEARCH
'; CONCL-SI
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'escriptive study as the name implies is designed to describe something
for e$ample the characteristics of users of a given product) the degree towhich the product use the varies with income) age) etc.
SAMPLING TECHNI-E -SED=
T#is resear1# #as $se4 1o/8e/ie/1e sa23%i/g te1#/i$e
:0 %onvenience sampling te1#/i$e= %onvenience sampling is $se4 i/
e3%orator! resear1# #ere t#e resear1#er is i/tereste4 i/ getti/g a/
i/e3e/si8e a33roi2atio/ o t#e tr$t# As t#e /a2e i23%ies t#e
sa23%e is se%e1te4 ?e1a$se t#e! are 1o/8e/ie/t
SELECTION OF SAMPLE SI9E=
3or the study) a sample size of @< has been taken into consideration.
SO-RCES OF DATA COLLECTION=
-search will be based on two sourcesJ
:. ,rimary data
;. econdary data
'; SECONDARY DATA=
econdary data will consist of different literatures like books which are
published) articles) internet and websites.
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In order to reach relevant conclusion) research work needed to be designed
in a proper way.
STATISTICAL TOOLS -SED
The main statistical tools used for the collection and analyses of data in
this project areJ
Kuestionnaire
,ie %harts
(ar %harts
6ine %harts
%olumn %harts
7ender L M3
Area L -ural /rban
Age L
Income
EMPLOYMENT GRADE
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Department heads
Regional/sales heads
Functional/sr. managers
Managers/supervisory roles
Executives/customer support executives
DEPARTMENT HEAD
Job DescriptionRoles & Responsibilities / KRA:
Recruitment & servicing of agents
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Premium generation through agentsBand movement of agentsRelationship Management
Salary:
nsurance!area:
!inancial Services" Ban#ing" nvestments" nsuranceRole $ategory:
%perations/ProcessesRole:
$RM/$ustomer Service 'ecutive
Desired Candidate Profile
ducation:
() * Any )raduate * Any Speciali+ation
P) * Any Postgraduate * Any Speciali+ation
,octorate * ,octorate -ot Re.uired
Should be a )raduate/Post )raduate
Minimum 'perience 0
Ma'imum 'perience 1
2ocation 3est ,elhi4Motinagar5" -ehru Place" $onnaught Place & -oida
Administration SupportbyBa6a6 Allian+ )eneral nsurance $ompany 2td7 in8ana#puri
'perience:9 to 1 yrs7 %pening4s5:9Posted on:;< Mar
http://jobsearch.naukri.com/insurance-jobshttp://jobsearch.naukri.com/financial-services-jobshttp://jobsearch.naukri.com/banking-jobshttp://jobsearch.naukri.com/investments-jobshttp://jobsearch.naukri.com/insurance-jobshttp://jobsearch.naukri.com/insurance-jobshttp://jobsearch.naukri.com/financial-services-jobshttp://jobsearch.naukri.com/banking-jobshttp://jobsearch.naukri.com/investments-jobshttp://jobsearch.naukri.com/insurance-jobs -
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Job DescriptionRoles & Responsibilities / KRA:
%ffice (p#eep & Maintenance
)eneral Administration=andling of >al#*in*customers and calls?endors Management2iaison >ith legal and other dept7 for rene>al & registration of leaseagreement and other legal formalities7
Salary:
-ot ,isclosed by Recruiterndustry:
nsurance!area:
=R" Recruitment"Administration" RRole $ategory:
Administration/!acility ManagementRole:
'ecutive/ Sr 'ecutive * Administration
Keys#ills:
Desired Candidate Profile
ducation:
() * Any )raduate * Any Speciali+ationP) * Any Postgraduate * Any Speciali+ation" Post )raduation -ot Re.uired,octorate * ,octorate -ot Re.uiredShould be a )raduate
Minimum 'perience 9Ma'imum 'perience 1
Sales ExecutivebyBa6a6 Allian+ )eneral nsurance $ompany 2td7 inRanchi" Kol#ata"
Bhubanesh>ar" Patna" 8amshedpur" ,hanbad" Sreerampore
http://jobsearch.naukri.com/insurance-jobshttp://jobsearch.naukri.com/hr-jobshttp://jobsearch.naukri.com/recruitment-jobshttp://jobsearch.naukri.com/administration-jobshttp://jobsearch.naukri.com/ir-jobshttp://jobsearch.naukri.com/insurance-jobshttp://jobsearch.naukri.com/hr-jobshttp://jobsearch.naukri.com/recruitment-jobshttp://jobsearch.naukri.com/administration-jobshttp://jobsearch.naukri.com/ir-jobs -
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'perience:; to @ yrs7 %pening4s5:Posted on:; Mar
Apply and Register
Share
Job Description,esignation: : Sales 'ecutive
,epartment: %il vertical 4Motor dealer5
$ollecting data follo> up and close case from petrol pump7Relationship management >ith head of petrol pump7Rene>al follo>*up
$over note control
Salary:
Based on e'perience and .ualificationndustry:
nsurance!area:
!inancial Services" Ban#ing" nvestments" nsurance
Role $ategory:
%perations/ProcessesRole:
Claims Executive
http://jobsearch.naukri.com/insurance-jobshttp://jobsearch.naukri.com/financial-services-jobshttp://jobsearch.naukri.com/banking-jobshttp://jobsearch.naukri.com/investments-jobshttp://jobsearch.naukri.com/insurance-jobshttp://jobsearch.naukri.com/insurance-jobshttp://jobsearch.naukri.com/financial-services-jobshttp://jobsearch.naukri.com/banking-jobshttp://jobsearch.naukri.com/investments-jobshttp://jobsearch.naukri.com/insurance-jobs -
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Desired Candidate Profile
ducation:
() * Any )raduate * Any Speciali+ation" )raduation -ot Re.uired
P) * Any Postgraduate * Any Speciali+ation" Post )raduation -ot Re.uired
,octorate * ,octorate -ot Re.uired-o7 of Positions: 4Ranchi*9" Kol#ata*0" Sreerampore*9" Bhubnesh>ar*9"
Patna*9" 8amshedpur*9" ,hanbad*95
ducational Cualification: =7S/ graduate7
Dears of 'perience: ; to @ Dears from any industry74 )eneral nsurance >ill
be preferred5
%ther Cualities: )ood $ommunication S#ills" nglish 4Spo#en & 3ritten5"
Basic nglish" =indi
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Assistant Manager/ Deputy Manager TP Claimsn ! "ouse Doctor
byBa6a6 Allian+ )eneral nsurance $ompany in$hennai
'perience:1 to @ yrs7Posted on:0E !eb
Apply and Register
Job Description*F2iasioning >ith advocates & legal officers at location in handling of caseseffectively in terms of medical frauds7*Fdentifying the medical fraud" e'aggeration of in6uries" disability" falsifyingthe cause of death etc7
*F=elping the legal team in establishing the fraud by guiding them in findingthe source & obtain documents from various sources7*Fducating legal %fficers and advocates on assessment of disability" Medicalthics and conse.uences of violation7*F?isiting various locations and revie>ing files" finding out possible frauds andsuggesting means and methods to establish them and continue to guide themtill the end7*FAttending courts >hen the doctor is cross e'amined to be of assistance tothe counsel conducting the case" deposing on behalf of company before courton medical fraud" assessment of disability etc7
*FAssisting the locations in compromising in6ury claims by scrutini+ing themedical documents and guiding them on disability to be considered7*FGa#ing the erring professionals to the medical council for violation of ethicsand professional misconduct7
Salary:
nsurance!area:
!inancial Services" Ban#ing" nvestments" nsuranceRole $ategory:
%perations/ProcessesRole:
http://jobsearch.naukri.com/insurance-jobshttp://jobsearch.naukri.com/financial-services-jobshttp://jobsearch.naukri.com/banking-jobshttp://jobsearch.naukri.com/investments-jobshttp://jobsearch.naukri.com/insurance-jobshttp://jobsearch.naukri.com/insurance-jobshttp://jobsearch.naukri.com/financial-services-jobshttp://jobsearch.naukri.com/banking-jobshttp://jobsearch.naukri.com/investments-jobshttp://jobsearch.naukri.com/insurance-jobs -
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#elations$ip %fficer ! &anc AssurancebyBa6a6 Allian+ )eneral nsurance $ompany 2td7 inrna#ulam / Kochi/
$ochin" Kollam / Cuilon" Kottayam" Ko+hi#ode / $alicut" Malappuram"
Ghrissur / Grichur" Grivandrum" Pathanamthitta
'perience:; to 1 yrs7 %pening4s5:illing to do sales
)ood communication s#ills" strong convincing ability7
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Senior Executive TP ClaimsbyBa6a6 Allian+ )eneral nsurance $ompany inMadurai
'perience:0 to yrs7Posted on:91 !eb
Apply and Register
Job Description97 =andling of 2egal matters & GP $laims7
07 Revie> & maintain consumer & ombudsman matters7
17 Building database & analysis7
7 =andling of 2egal compliance & property issues of Branch & satelliteoffices7
@7 Addressing to legal notices & recovery issues7
ledge from time to time7
Salary:
As per industry standardsndustry:
!area:
Role $ategory:
%perations/ProcessesRole:
$laims 'ecutiveKeys#ills:
Senior 'ecutive GP $laimsSenior 'ecutiveGP $laims$laims2egal
Desired Candidate Profile
ducation:
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() * 22B * 2a>
P) * 22M * 2a>
,octorate * ,octorate -ot Re.uired
S#ills Re.uired:
$andidate should be 227B7 / 227M7 degree holder from any recogni+ed
university7
Must be having actual professional e'perience upto @ years or had >or#ed in
similar industry at similar profile for at least 0 years7
!luent in nglish" Gamil4Read / 3rite/ Spea#5
3ell conversant >ith MS %ffice
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FINAL PLACEMENT
%recer 3inancial ervices ,vt. 6td. is pleased to offer you 3inal placement
in Marketing fields) with a designation as enior -elationship Manager.,ackage will be of ;.B lakhs per annum.
D$ties a/4 res3o/si?i%ities i/1%$4e=
Market research
Marketing strategies and planning
Training of company ,roduct +,M) Trading) 3inancial planning) #
4tc.0
6aunching of a product
,romotional activities
6ead generation
,roducts feedback from clients
-esponse of our ,roducts +its totally based on sales0
ave to achieve target.
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E@CELLENT OPPORT-NITY
5oi/ Ba.a. A%%ia/0 as a A48isorand earn a rewarding career
F%ei?%e ork ti2i/gs "ou can work whenever you like. "ou
can work fulltime or parttime) depending on your convenience.
owever) the time you invest will determine your success
A/! o/e 1a/ .oi/ "oung graduates) ousewives) -etired
,ersonnel) elfemployed or 9orking ,rofessionals.
9ero I/8est2e/t There is no startup capital re&uired. (e your
own boss with fle$ible working environment) unlimited earning
potential and opportunities to be part of a world class sales team.
Attra1ti8e Re2$/eratio/ %ompany offers e$cellent
commissions) award and rewards for the performers.
"ou have unlimited earning potential. %ommission structure is
pretty handsome and is :@B
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Certii1ate ?! IRDA "ou will get world class training free of
cost and certification by Insurance -egulatory 'evelopment
Authority.
TRAINING ,erfects your knowledge about the insurance
industry as well as our products.
IRDA Trai/i/g
,repares you for your career as a 3inancial %onsultant and enables
you to pass the I-'A e$amination easily
Dis#a Trai/i/g
ones your selling skills) enables you to understand customer needs
and provide needbased insurance solutions
A48a/1e4 Trai/i/g
/pgrades your capability and knowledge through sophisticated
training programs customised for the changing world of financial
products and markets
Desire4 Proi%e=
AgeJ :D "rs to >@ "rs
4ducationJ Intermediate or more
4$perienceJ 1ot Mandatory
Type of 5obJ 3ull Time or ,art Time
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Do1$2e/ts Re$ire4=
D photograph
Age proof +passport) (irthcertificate) %ollege 6eaving %ertificate) 'riving
6icense0
Address proof
4ducation proof
%opy of ,A1 %ard
'uely igned %ancelled %he&ue of self
A candidate needs to bring a '' of -s. C;@ in case of offline training.
RECR-ITMENT PROCESS OF AD
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It means identify the right person through observation. 3or e.g. a
person residing in your locality and very famous in taking initiative in
social activities can be a good prospect.
No2i/ator Ca%%=
A nominator is a person who is very much influential in the market
as
well as in societies. 1ame gathering and identification is easy in this
case) but these people are highly unapproachable. These people can
be very productive in giving references of the prospect. They are not
prospect by default.
Ce/tre o I/%$e/1e CoI; Ca%%=
A centre of influence person is people who are influential and you
know them personally. They are approached for giving references of
the client.
SHORT LISTING
(ajaj Allianz follows some process regarding
the short listing the people. %ompany can judge the prospective
person. The basic objective of this selection is to have good retention and
greater effectiveness in the delivery of service. -egarding this issue
company has some parameters) it called C points criteria .
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,arameters are followingJ
AGE
N;@ : ,2I1T
;@=@ ; ,2I1T
=@O = ,2I1T
GENDER
MA64 ; ,2I1T
34MA64 = ,2I1T
-ALIFICATION
/1'4- 7-A'/ATI21 : ,2I1T
,2T 7-A'/ATI21 ; ,2I1T
MARITAL SAT-S
MA--I4' ; ,2I1T
/1MA--I4' : ,2I1T
LI
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Ge/4er:Ma%e '
$a%ii1atio/:Gra4$atio/ &
Marita% Stat$s:Marrie4 '
Li8i/g i/ t#e 1it!:For &*!rs '
TOTAL
This person will eligible for advisor in (ajaj Allianz. (ecause he has
fulfilled the
C marks criteria. In this way when a persons every criteria will give the
net
result of C points then he or she will eligible for agent.
CONTACTING
%andidates are called either as nominator) ,rospective Agents and a
meeting is fi$ed with them according to the convenience of both the party.
ere script plays very important role in fi$ing appointment with the
prospect.
INITIAL SCREENING
Initial screening is taken if candidate is found eligible using B point
model. In intial screening) a sales manager first gives the introduction
about the
company. Then several &uestions such as his family background) his
natural
market) traits for a sales person) and his present and past e$periences of his
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jobs are &uestioned.
4very candidate is re&uired to get at least = points in eligibility model the
company. The eligibility standards for AA selection are as follows. In case
of
score less than =) special zonal head approval is re&uired.
FI
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CAREER INTER
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Fi/a/1ia% Be/eitsJ
%ommission on issuance of every policy.
%ommission directly credited to bank account of Advisors within :@ days.
These commission varies from E.@B
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source such as newspaper advertisement) employment e$changes) internal
promotion) etc.are used.
In the recruitment) a pool of eligible and interested candidates is createdfor selection of most suitable candidates. -ecruitment represents the first
contact that a company makes with potential employees According to
4'9I1 36I,,2)H-ecruitment is the process of searching for prospective
employees and stimulating them to apply for jobs in the organization.H
Nee4 or re1r$it2e/tJ
The need for recruitment may be due to the following reasons situationJ
a0 *acancies due to promotions) transfer) retirement) termination)
permanent disability) death and labour turnover. b0 %reation of new
vacancies due to the growth) e$pansion and diversification of business
activities of an enterprise. In addition) new vacancies are possible due to
job specification.
P$r3ose a/4 i23orta/1e o Re1r$it2e/tJ
:. 'etermine the present and future re&uirements of the organization on
conjunction
with its personnelplanning and job analysis activities.
;. Increase the pool of job candidates at minimum cost.
=. elp increase the success rate of the selection process by reducing the
number of visibly under &ualified or over&ualified job applicants.
B. elp reduce the probability that job applicants) once recruited and
selected) will leave the organization only after a short period of time.
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@. Meet the organizations legal and social obligations regarding the
composition of its work force.
>. (egin identifying and preparing potential job applicants who will beappropriate candidates.
E. Increase organizational and individual effectiveness in the short term
and long term.
D. 4valuate the effectiveness of various recruiting techni&ues and sources
for all types of job applicants.
-ecruitment is a positive function in which publicity is given to the jobs
available in the organization and interested candidates are encouraged to
submit applications for the purpose of selection.
-ecruitment represents the first contact that a company makes with
potential
employees. It is through recruitment that many individuals will come to
know a
company) and eventually decided whether they wish to work for it. A well
planned and wellmanaged recruiting effort will result in high &uality
applicants) whereas) a
haphazard and piecemeal efforts will result in mediocre ones. ,reviously)
the selection of candidates was influenced by superstitions) beliefs)
personal prejudices of managers looking after the recruitment and
selection of the staff. The net result of such unscientific recruitment and
selection areJ
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+a0 6ow productivity of labour
+b0 igh turnover
+c0 4$cessive wastage of raw materials
+d0 More accidents and corresponding loss to the organization
+e0 Inefficient working of the whole organization and finally
+f0 Ineffective e$ecutive of training and management development
programs
cientific recruitment and selection The importance of selection
recruitment and selection of staff is now accepted in the business world.
election is important as it has its impact on work performance and
employee cost. As result scientific methods of recruitment and selection
are e$tensively for the selection of managers and the supervisory staff. The
assistance of e$perts such as industrial psychologist and management
consultants are also taken for the purpose of scientific selection. As a
result) the objective of Gright man for the right jobH is achieved in many
rganizations. Moreover) Gright jobH is the basic principle in manpower
procurement.
-ecruitment and selection are two of the most important functions ofpersonnel management. -ecruitment precedes selection and helps in
selecting a right candidate. -ecruitment is a process to discover the
sources of manpower to meet the re&uirement of the staffing schedule and
to employ effective measures for attracting that manpower in ade&uate
numbers to facilitate effective selection of efficient personnel. taffing is
one basic function of management. All managers have responsibility of
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staffing function by selecting the chief e$ecutive and even the foremen and
supervisors have a staffing responsibility when they select the rank and file
workers. owever) the personnel manager and his personnel department is
mainly concerned with the staffing function.
4very organisation needs to look after recruitment and selection in the
initial period and thereafter as and when additional manpower is re&uired
due to e$pansion and
development of business activities. Q-ight person for the right job is the
basic principle in recruitment and selection. 4ver organization should give
attention to the selection of its manpower) especially its managers. The
operative manpower is e&ually important and essential for the orderly
working of an enterprise. 4very business organisationunit needs
manpower for carrying different business activities smoothly and
efficiently and for this recruitment and selection of suitable candidates are
essential. uman resource management in an organisation will not be
possible if unsuitable persons are selected and employment in a business
unit.
JI/ter/a% Re1r$it2e/t
Internal recruitment seeks applicants for positions from within thecompany.
The various internal sources includeJ
JPro2otio/s a/4 Tra/sers
,romotion is an effective means using job posting and personnel records.
5ob posting re&uires notifying vacant positions by posting notices)
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circulating publications or announcing at staff meetings and inviting
employees to apply.
,ersonnel records help discover employees who are doing jobs below theireducational &ualifications or skill levels. ,romotions has many advantages
like it is good public relations) builds morale) encourages competent
individuals who are ambitious) improves the probability of good selection
since information on the individuals performance is readily available) is
cheaper than going outside to recruit) those chosen internally are familiar
with the organization thus reducing the orientation time and energy and
also acts as a training device for developing middlelevel and toplevel
managers. owever) promotions restrict the field of selection preventing
fresh blood # ideas from entering the organization. It also leads to
inbreeding in the organization. Transfers are also important in providing
employees with a broadbased view of the organization) necessary for
future
promotions
JReerra%sBri/g Yo$r B$44!
4mployees can develop good prospects for their families and friends by
ac&uainting them with the advantages of a job with the company)furnishing them with introduction and encouraging them to apply. This is a
very effective means as many &ualified people can be reached at a very
low cost to the company. The other advantages are that the employees
would bring only those referrals that they feel would be able to fit in the
organization based on their own e$perience. The organization can be
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assured of the reliability and the character of the referrals. In this way) the
organization can also fulfill social obligations and create goodwill.
JI/ter/a% /otii1atio/ a48ertise2e/t;= :
ometimes) management issues an internal notification for the benefit of
e$isting employees. Most employees know from their own e$perience
about the re&uirement of the job and what sort of person the company is
looking for. 2ften employees have friends or ac&uaintances who meet
these re&uirements. uitable persons are appointed at the vacant post
JEter/a% Re1r$it2e/t
4$ternal recruitment seeks applicants for positions from sources outside
the company. They have outnumbered the internal methods. The various
e$ternal sources include
JProessio/a% or Tra4e Asso1iatio/s =:
Many associations provide placement service to its members. It consists of
compiling job seekers lists and providing access to members during
regional or national conventions. Also) the publications of these
associations carry classified advertisements from employers interested in
recruiting their members. These are particularly useful for attracting highly
educated) e$perienced or skilled personnel. Also) the recruiters can zero on
in specific job seekers) especially for hardtofill technical posts.
JA48ertise2e/ts
It is a popular method of seeking recruits) as many recruiters prefer
advertisements because of their wide reach. 9ant ads describe the job
benefits) identify the employer and tell those interested how to apply.
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1ewspaper is the most common medium but for highly specialized
recruits) advertisements may be placed in professional or business
journals.
Advertisements must contain proper information like the job content)
working conditions) location of job) compensation including fringe
benefits) job specifications) growth aspects) etc. The advertisement has to
sell the idea that the company and job are perfect for the candidate.
-ecruitment advertisements can also serve as corporate advertisements to
build company image. It also cost effective
JCa23$s:
%olleges) universities) research laboratories) sports fields and institutes are
fertile ground for recruiters) particularly the institutes. %ampus
-ecruitment is going global with companies like 66) %itibank) %6,)
A1 7rindlays) 6#T) Motorola and -eliance looking for global markets.
ome companies recruit a given number of candidates from these institutes
every year. %ampus recruitment is so much sought after that each collegeF
university department or institute will have a placement officer to handle
recruitment functions. owever) it is often an e$pensive process) even if
recruiting process produces job offers and acceptances eventually. A
majority leave the organization within the first five years of their
employment. "et) it is a major source of recruitment for prestigious
companies.
JWa%k:i/s Write:i/s a/4 Ta%k:i/s:
The most common and least e$pensive approach for candidates is directapplications) in which job seekers submit unsolicited application letters or
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resumes. 'irect applications can also provide a pool of potential
employees to meet future needs. 3rom employees viewpoint) walkins are
preferable as they are free from the hassles associated with other methods
of recruitment. 9hile direct applications are particularly effective in filling
entrylevel and unskilled vacancies) some organizations compile pools of
potential employees from direct applications for skilled positions.9r i t e
i n s are those who send written
en&uiries. These jobseekers are asked to complete application forms for
further
processing.Ta l k i n s involves the job aspirants meeting the recruiter +on
an
appropriated date0 for detailed talks.
JCo/s$%ta/ts=:
They are in the profession for recruiting and selecting managerial and
e$ecutive personnel. They are useful as they have nationwide contacts and
lend professionalism to the hiring process. They also keep prospective
employer and employee anonymous. owever) the cost can be a deterrent
factor.
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S-GGESTION
:. 2ther methods of selection like ,sychometric and written tests should be
introduced in the selection tests because these tests are vital in choosing the best
candidate.
;. %ost of recruitment can be reduced by the help of erecruiting and by
employees referral as this practice of recruitment is considered the least in the
company.
=. As company considers mostly e$perienced people for the job) a look on
fresher should also be given because they can be recruited at a less salary
offered to the e$perienced and they can also give good results by giving proper
training and guidance by the seniors in the company.
B. 2n campus recruitment should also be considered for recruitment of
personnel from various colleges and business school.
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CONCL-SION
:. The study of recruitment and selection policies of (ajaj Allianz Insurance
%ompany hows a small but systematic procedure
;. 2verall employees are satisfied with this recruitment process as they dont
have to go through different test and this ease their tensions.
=. It is observed that the best source of recruitment is through consultancies
B. 4mployees are treated well and they are satisfied
@. All the employees get the recreational facilities
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LIMITATION
The research area was restricted only within the agar city. This may
not reflect the e$act position of the total market.
ample size was also so less) limitation of time means and resource
forced for small size.
Kuestionnaire includes :> &uestions) which affects the mentality of
respondents that is time consuming.
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WEBSITES
www.bajajallianzlife.co.in
www.google.com
http://www.bajajallianzlife.co.in/http://www.google.com/http://www.bajajallianzlife.co.in/http://www.google.com/