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Every task is undertaken with an objective. Without any objective a task is rendered
meaningless. The main objectives for undertaking this project are:
METHODOLOGY
The insurance sector is marked with a high level of attrition and therefore recruitment
process becomes a crucial function of the organization. At ICICI Prudential Life Insurance,
recruitment is all time high during May-June and Oct-Nov. The attrition is high among the sales
managers, unit mangers mostly in the sales profile. The recruitment is high during these months
due to the fact that March and September are half year closing and business is high during JanMar. Thus it is only after March that people move out of the companies.
Since my summer training was in the months of May-June, it gave me the opportunity of
involving myself directly with the recruitment process and analyzing the process so that suitable
recommendations can be given. This project is centered on identifying best hiring practices in the
insurance industries. It therefore requires great amount of research work. The methodology
adopted was planned in advance so as to collect data in the most organized way.
My area of focus was the recruitment and selection particularly at ICICI Prudential Life
Insurance. I was directly involved with the recruitment for candidates for the sales profile. I was
particularly involved with the sourcing of candidates for the regions outside Delhi such as M.P,
U.P and Rajasthan.
Before any task was undertaken, we were asked to go through the HR policies of ICICI
Prudential Life Insurance so that we get a better understanding of the process followed by them.
The first task was to understand the various job profiles for which recruitment was to be
done.
The next step was to explore the various job portals to search for suitable candidates for the
job profile.
Once the search criteria were put, candidates went through a telephonic interview to validate
the information mentioned in their resume.
A candidate matching the desired profile was then lined for the first round of Face to Face
interview in their respective cities.
When a candidate cleared his first round, he is then made to take an online aptitude test. We
created the online aptitude test. It the HR department, which has the exclusive rights to
assign test, codes to the candidates. Each code was unique and could be used only once by
a candidate.
Once the candidate completed his first assessment, his scores were checked. If he cleared
his cut-off he was given another test.
I had the responsibility to make sure that candidates complete all formalities and had to
regularly follow up with them.
Since we received many resumes, it was essential that a database be maintained to keep a
track. It was convenient method than to stock up piles of papers. ICICI has their own
database named as PACE, I update all the records of the new joinees in that tracker. PACE
containes all the information of a candidate such as name, contact number, location etc.
Understanding what kinds of database are maintained and how they help in keeping a
record.
I was also involved in maintaining a track of test codes given, the database for employee
referrals, Database for the resumes received through mails and response of advertisement.
RESEARCH METHODOLOGY
Date Source
Primary
:-
Through Questionnaires
Secondary
:-
Sample Size : - 80
Sample Area : - work done in Delhi regional Office.
Sample procedure :- Random sampling.
PROJECT SCHEDULE :First 1 week
Second week
Fifth week
Sixth week
Seventh week
Eighth week
Task:
The recruitment at ICICI Prudential Life Insurance involved a lot search from the database and calling up
candidates to check whether they fit the job specification.
Difficulties:
Candidates who were contacted were not interested in Insurance on many occasions;
Candidates who were scheduled for interview would not turn up;
Run out of database many times since most of them would have already been contacted;
Task:
Candidates were to be searched from the job portals and called up to be scheduled for an interview.
Difficulties:
At times many people had for couple of hours to work on the computer;
Since STD calls had to be made, the availability of phone was limited, so there was greater
coordination required with respect to its usage and maintains a time slot so that other person has a
chance to use.
Task:
Inter company analysis through survey and questionnaire filling.
Difficulties:
People asked lot of counter question so convincing them was a major task;
Topic Information
Scope: To define the process and flow of activities while recruiting, selecting and appointing personnel on
the permanent rolls of an organization.
Authorization:
ACTIVITY FLOW
The organization philosophy should be kept in mind while formulating the recruitment procedure.
The HR department would set the recruitment norms for the organization. However, the onus of
effective implementation and compliance with the process rests with the heads of the respective functions
and departments who are involved in the recruitment and selection process.
The process is aimed at defining the series of activities that needs to be performed by different
persons involved in the process of recruitment, the checks and control measures to be adopted and
information that has to be captured.
Recruitment and Selection is conducted by:
Functional Head
RECRUITMENT PLANNING
Recruitment planning on the basis of budget
A.
The manpower planning process for the year would commence with the companys budgeting
activity. The respective Functional heads would submit the manpower requirements of their
respective functions/ departments to the board of Directors as part of the annual business plan
after detailed discussion with the head of human Resource Function along with detailed notes in
support of the projected numbers assumptions regarding the direct and indirect salary costs for
each position.
B.
A copy of the duly approved manpower plan would be forwarded by the HR department for their
further actions during the course of the year. The annual budget would specify the manpower
requirement of the entire organization, at different levels, in various functions/departments, at
different geographical locations and the timing of the individual requirements. It would also
specify the requirement budget, which is the cost allotted towards the recruitment of the
budgeted staff and the replacement of the existing employees. The manpower plan would also
clearly indicate the exact time at which the incumbent should be on board in such a way that the
Regional HR has adequate notice for the time lapses involved in sourcing any other activities.
C.
The Regional HRs would undertake the planning activity and necessary preparations in advance
of the anticipated requirements, as monthly and quarterly activities on the basis of the approved
budget, estimated separations and replacements therefore.
D.
The vacancies sought to be filled or being filled shall always be within the approved annual
manpower budget and no recruitment process shall be initiated without the formal concurrence of
the Head of the Regional HR under any circumstance. Head of the Regional HR shall also have the
responsibility to monitor the appointments being considered at any point of time with specific
respect to the duly approved manpower budgets.
Employee referral as per any company scheme that may be approved from time to time;
Headhunting firms particularly for senior positions, specialist positions and critical positions;
The norms for using any of the sources are not water tight. Number of positions, criticality of
positions and the urgency of the positions, confidentiality requirements, relative efficacy and cost
considerations would play a role in the choice of the appropriate sourcing mechanism.
ADVERTISEMENTS
All recruitment advertisements (in any form and any medium) shall always conform to the KLI
compliance norms and would not be released by any department or branch without the approval of
the VP-HR. depending on the specifics of each position for which recruitment advertisements are to be
released, Regional HR may obtain assistance from the companys marketing department and/or any
external advertising agencies for the preparation of the contents. Key features of the positions as
notified by the Functional Heads would normally form a part of the advertisement text.
The media for releasing advertisement would depend on the level of the position being considered and
the urgency of the requirements.
The advertisement mode that could be broadly specified as newspapers (local or mainline depending
on requirements), internet sites and business magazines.
Depending upon the vacancies, fresher fitting different description listed above may be recruited from
time to time, from academic institutes of appropriate standards/reputation/grade, in the requisite
numbers and at the compensation/stipend amounts to be formally approved of the VP-HR. Plans for
such recruitment need specific special approval of VP-HR. norms regarding the identification of the
appropriate institutes, constitution of the selection panels, timings of the recruitment, number of
candidates to be recruited into different positions, choice of the appropriate selection process and the
tools thereof shall be decided by the Head of the Regional HR in consultation with the VP-HR,
depending on the specific features of the position.
f.
g.
Establish the annual guaranteed cash compensation of the individual and check whether the
person would fit into the system.
Explain the role of Sales manager to the applicant and check the acceptance of the candidate for
the same.
In case of need, the Regional HR may take a Tele interview of the candidate for further assessment
process.
Second Level Screening
Aptitude Test
If the first assessment is positive, the candidates will give the aptitude test, once such test is
selected approved by the company. The scoring, interpretation and the generation of interview probes
from that test will also be done at this time. People who qualify the minimum criteria on this test will be
put up on to the Functional Head (VPs in case of HO) for functional assessment and suitability into the
role.
Tied Agency Sales Manager candidates short listed by the BM have will then take sales Aptitude
test, once such a test is finalized. For the final selection, the regional Manager (Business Heads for HO) will
meet the candidates short listed by the branch manager/VP. The chart specifying the Minimum approval
level for each level of recruitment is specified below:
Category
Branch
Manager/Chief
Manager
CSE/ADVISORS
Yes
BIC
BM/CM
SM
Yes
Yes
Yes
Area
Business Managing
Manager/AVP/VP
Heads
Director
No
No
No
Yes
Yes
Yes
No
Yes
Yes
No
No
Yes
Interviews should consider the entire data provided by the candidate either through the formal CV
or otherwise before coming to a conclusion about the candidate. They may insist on seeing the
proof of the claims made by the candidate regarding qualifications, experience and other
achievements. They may, at their discretion, decide to meet the candidate on more than one
occasion or to refer the candidate to another panel.
B.
Ratings on various attributes of the candidates shall be recorded in the interview evaluation
sheet, soon after the interview is over. Along with these numerical ratings, qualitative
observations about the candidate and overall decision regarding selection or otherwise (including
a decision to defer the induction, referral to another panel, considering for another position) shall
be forwarded to the associated Recruitment Manager/ Head of Regional HR. Individual panel
members have the option of appending their additional remarks/observations. No selection will be
treated as final unless the IES form is filled comprehensively. Suitably appropriate IES formats
may be created for specific positions.
C.
Any discrepancies noticed by the panel members regarding the authenticity of the data provided
by the candidate should be specifically and formally recorded on the IES form and suitably high
lightened.
D.
Specific points to be probed during the reference check process, if any, must also be clearly
recorded and high lightened on the IES forms.
B.
C.
Scheduling and the venue of the interviews would be handled by the recruitment team in
consultation with the short listed candidate and the selection panel members, after taking mutual
convenience into account. For field positions, respective branch/regional heads would undertake
this co-ordination.
After the final round, if the candidate is selected, the complete set of papers Personal Data Form,
CV, job requisition no., Interview evaluation sheet ,reference check details, educational details,
along with the interviewers recommendations and Reference check form should be forwarded by
the recruitment managers to recruitment head. Fitment of the candidate into a grade and
compensation fitment shall be on the assumption of authenticity of the information provided in
the CV/application form.
An appropriate formal communication shall be sent to the candidate whose candidature is not
being taken forward, or details of the verbal/telephonic communications provided to the candidate
shall be recorded on the candidates papers, by the recruitment team/associated line managers. In
the case of interviews taking place at the branch/regional levels, similar noting should be
recorded on the individual candidates papers.
In the case of sales-Tied Agency functions, the branch managers will be allowed to fix the salary
and grade of the incoming sales manager, provided the compensation does not exceed 20% of
the candidates current cash salary. Any fitment beyond this norms will need the approval of HeadHR. HR will forward a worksheet to support the BMs to evaluate the appropriate cash CTC of the
incumbent. For all other functions, the compensation and grade would be fixed post a discussion
between the Head of the Regional HR and the associated AVP/VP. Any candidate being offered a
CTC of more than 4lacs will need the sign off from HEAD-HR. In appropriate cases, at the
discretion of the VP-HR, a deviation may be referred to the Managing Director, for the MDs formal
approval.
B.
Responsibility for negotiations and finalization of the terms shall rest with the best Branch
Manager/Associated Manager. They may seek the assistance of the recruitment managers,
whenever required. Reference checks process should not normally be initiated unless the
candidate has indicated his firm acceptance of the offer being made by us.
Reference checks
A. Normal, reference checks should be undertaken with at least one reference. A second reference
check will be done if considered necessary. Responsible officials from the former employers,
academic institutes and/or any other eminent personalities can be considered as appropriate
references. Close relatives and friends cannot be considered as references. Wherever feasible and
considered appropriate, a reference should be made with a senior official of the candidates
current employer. In case the candidate is currently un-employed, reference should be made with
the latest employer. The format of reference check is to be used as a framework for conducting
the process.
B.
Where the minimum two reference checks are not possible (particularly with the current
employer) or where there is a mixed response from different sources, the matter may be to the
VP-HR for a final decision. Depending on the seniority and any other considerations about the
positions, VP-HR would normally consult the functional head concerned, before coming to
conclusions. Any candidate whose credentials are doubtful shall not be recruited.
C.
In case of recruitment of Management trainees, fresher and life advisors as sales Managers no
reference checks will be required.
When a recruitment Manager is fully satisfied about the selection of the right candidate and about
completion of all the formalities connected with the appointment of candidate including requisite
documentation, satisfactory reference check reports and medical fitness, he/she would forward
the relevant papers listed below to the head of recruitment.
Interview evaluation sheet filled by the regional head/Branch manager/interviewer with his/her
comments.
Photocopy of the appointment letter of the last employer or latest salary slip.
Employment details.
Language Proficiency.
B.
Proof of Residence.
C.
Regional HR manager will take the signature of Head-HR on the employee requisition form and
forward the papers to the employee service team for issuance of the offer letter.
D.
Employee services team will issue offer letter, to be signed by the National Recruitment Manager
or Chief Manager-HR, and send the same to the concerned Branch Manager/ HR Manager.
E.
It would be the responsibility of the Branch Manager/HR Manager to ensure that the accepted
copy of the offer letter is forwarded to the employee service team within a week of receipt of the
offer letter. Till this letter is issued, the offer has not taken place in formal sense. A copy of the
offer letter shall be duly signed and returned to the candidate. Candidate would be expected to
fulfill various joining formalities, which are also formally communicated to him/her in the form of a
checklist that is attached to the letter of offer. The Regional HR head shall have the overall
responsibility and accountability to maintain the templates of the offer letters and also for drafting
of suitable non-standard terms to any specific candidate.
F.
The employee service team will follow up Branch Manager/Regional HR Manager for the joining of
the candidate and will collect all relevant documents from the candidate including the joining
report, before issuing the appointment letter. The employee service team may enlist the help of
the Branch Manager to ensure that all necessary documents within ten days o the person
joining. After the of all necessary documents, the employee service team will send the
appointment letter to the new joinee.
G.
Once the documentation is complete for the new joinee (including the accepted appointment
letter), people who may have joined before 20 th of the month but have not been included in the
payroll for the month because of delay in receipt of papers will be given ad-hoc salary advance
(up to maximum of 65% of the pro rated salary). This advance will be adjusted once the person
gets included in the subsequent months payroll.
H.
If the person does not submit the relieving letter from the previous organization, where required
to be submitted as per the table given above, within three months of joining, the employee
service manager can put their salary on hold till such time as the said documents are received.
Ensuring inductions as per quality, numbers, time and cost consideration of the company in
accordance with the approved manpower budget.
Creation of appropriate sourcing mechanism along with tracking the performance of these
mechanisms.
Effective coordination with external parties such as candidates, placement agencies, consultants,
academic/professional institutes and any other including the custody of the formal agreements ,
tracking timely payments and adjusted thereto
Creation of comprehensive and appropriate tools, linkages, documents, templates and any other
mechanisms to ensure smooth execution of the process requirement, along with timely improvements
thereto
Effective internal communication with user departments and line managers including making the
standard recruitment formats and other templates easily available to such users and notifying the
modifications to such formats and templates.
Creation and maintenance of qualitative information base regarding candidates, placement agencies,
campuses, institutes, and any other employment-market information.
Creation and maintenance of appropriate and high-quality MIS for current and future needs of the
organization, including publication/circulation of appropriate reports there from to the relevant users
within the company.
Complete documentation for the entire recruitment and selection process for easy and quick retrieval
in a readily auditable format
Timely and effective communication with all internal and external parties including the candidates
Tracking the progress of the selected candidates including resignation, extensions of probation
periods/training period, etc for the purpose of improvement to recruitment and selection process.
Effective coordination with the post recruitment arm of the Human Resource function
Documentation and creating MIS regarding waiver, deviation, etc and identifying the key areas for
improvement in the formal recruitment and selection process document.
Strengths
Brand equity of Kotak Mahindra
Bank.
Prudential
Life
Insurances
Weaknesses
Pre assessment tests are costly.
Opportunities
Campus recruitments have huge
potential for fulfilling manpower
requirements cost effectively.
Tie up with recruitment agencies
on supplying fixed number of
footfalls week on week.
Develop exclusive contract with
channel partners to meet the
manpower requirements.
Make blue form brief and to the
point.
Reduce turn around time of
making an offer.
Threats
Increasing number of private
players in insurance sector creates
ample choices, frequent and easy
mobility for employees.
Same channel partners are
handling all insurance companies.
This leads to same pool of
candidates being circulated to all
partners.
Increasing spill over as a candidate
has more than one offer at the time
of making a job shift.
As the insurance industry is small,
senior level candidates hesitate to
meet HR of other companies for the
fear of grapevine.
Know
what
you're
looking
for
in
candidates.
It is observed that the candidates sourced by placement agencies and send for further rounds of
interviews are rarely found suitable by the hiring managers. Therefore, in case there is need to utilize
the service of a placement agency, then it is recommended that these placement agencies be given a
well drafted job description and job specification. This can also be circulated to internal employees
under the employee referral scheme. This will help people to get a clearer picture and provide for
most suitable candidates. Thus making efficient utilization of the existing resources.
It is recommended that apart from the person-job fit, method must be devised to check for personorganization fit. A person-organization helps to assess how well a candidate is suited the organization.
Whether the attitude he/she carries will promote both organizational as well personal goals. This takes
a great importance especially when attrition is high. It will help the organization to retain its
employees for a longer period of time and less burden on recruitment staff.
CONCLUSION
Insurance is confronted with high attrition rate. Therefore it makes recruitment a critical function
in the organization. In order to grow and sustain in the competitive environment it is important for an
organization to continuously develop and bring out innovations in all it activities. It is only when
organization is recognized for its quality that it can build a stability with its customers. Thus an
organization must be able to stand out in the crowd.
The first step in this direction is to ensure competitive people come in the organization. Therefore
recruitment in this regard becomes an important function. The organization must constantly improvise in
its recruitment process so that it is able to attract best in the industry in order to serve the best. Thus the
organization must look out for methods that can enable it to adopt best recruitment practices.
LEARNINGS
Every endeavor undertaken to accomplish challenging goals, can only be successful under the experienced and
encouraging guidance. I am privileged to have undergone training at ICICI Prudential Life Insurance. As learning never
stops, my learning at Kotak has come from a lot of exposure, on the job training and close interaction with the corporate.
In brief my learning and achievements can be summarized as under:
Understanding of person and profile fit.
Convince people about the job profile and to sell the job to the prospective candidate;
Following up with the candidates during the entire selection process;
Learned to convince candidates about the offer rolled out and making them accept the offer through
effective communication;
Learning about salary fitments.
Communicating with the corporate;
Performance appraisals, its various types, implications and significance;
Handling queries received from various quarters;
Managing HR department in the absence of HR manager;
Reply to official mails;
Prioritize issues according to their importance;
Field work exposure to tap candidates that further strengthened the learning.