CHAPTER 1

INTRODUCTION OF THE STUDY

1.1

INTRODUCTION OF THE PROJECT

MOBISOFT HR BUSINESS SOLUTIONS recruits candidates for various life insurance

companies. One of such companies is HDFC Standard Life Insurance. HDFC Standard Life
Insurance is Indias premier insurance enabling company. HDFC Standard Life insurance is
the one-stop-shop for requirements of services in the areas of insurance, optimum investment,
financial coverage and losses, mortality benefit, and health option etc. This is backed by
HDFC Standard Life insurance service support infrastructure - the widest in the country.
The project is about recruitment of Financial Consultants for HDFC Standard Life.

1.2

REASON FOR CHOSING THIS COMPANY & PROJECT

The reason behind choosing this company is MOBISOFT HR BUSINESS SOLUTIONS is

purely in recruitment business. Since the organisation gave me large exposure to recruitment
procedure, I learnt much more about the recruitment & selection process of HDFC SL, which
is one of the top insurance company in India. Being a small organisation, I learnt very basic
concepts of human resource management.
.
1.3

LOCATION

MOBISOFT HR BUSINESS SOLUTIONS

Bramha Estate, Main N.I.B.M
Kondhwa
Pune -411048
.

1.4

DURATION OF THE PROJECT

2

The duration of the project was 30 Working Days .That is from 1 march to April.

1.6 HOW DID I CARRY OUT THIS PROJECT?

I carried out this project through Searching the candidate from given criteria, talk to then by
phone, personal counselling and final documentation to interested candidates.

LIMITATIONS OF THE PROJECT

1) The study covers the part of Pune region only and due to the limited sample size.
2) The facts revealed in the study may not generalize.
3) While calculating the percentages, approximations are made to the nearest figures.
4) The analysis is based on what public & FCs opinion at the time of survey. The study
may not produce the same findings if done at a later stage of time.
5) While filling the questionnaires public & FCs could not provide 100% accurate
information because of their personal limitations.
6) Biased reply of many people.
7) Time constraints as limited time for the survey.

OBJECTIVES & SCOPE OF THE PROJECT

2.2.1 PRIMARY OBJECTIVES:3

1) To find out interested candidates for recruitment.

2) To find out whether the eligible candidates are aware of various opportunities
3)
4)
5)
6)

available in market?
To study the existing recruitment practices going on in HDFC SL
To check whether the candidates are satisfied with the recruitment procedure?
To get the feedback of candidates about the company.
To study the effectiveness of recruitment efforts undertaken.

2.2.2 SECONDARY OBJECTIVES:1) To identify deficiencies in the current recruitment & selection practices.
2) To make statistical study of the same to find out the star areas as well as the Problem
areas.
3) To suggest better ways and techniques to avoid deficiencies if any in the existing
recruitment & selection process.
4) To give suggestion to improve recruitment and selection process.

2.3SCOPE OF THE PROJECT:To find out new market opportunities. The study was pertaining to questions like preferences
for a particular job. To find awareness of company among people.

2.4 AREA OF THE PROJECT

MOBISOFT HR BUSINESS SOLUTIONS
Bramha Estate, Main N.I.B.M
Kondhwa
Pune - 411048.

IMPORTANCE OF RECRUITMENT AND SELECTION

Recruitment is one of the most important parts of HR, as if you get this process right youre
halfway there, as you have minimised any potential employees issues that can arise in future.
However, if the recruitment is not done effectively then this will have wide reaching
implications for the organisation long term.
Therefore, it is still quite amazing how often employers can get this process wrong, either
through neglect or ignorance. Even though everyone is aware how important and more
importantly how expensive it is to recruit employees in our current market. The latest
statistics show that to replace an existing member of staff it will cost you two and a half times
the employee's salary. Therefore, it is important that the HR is involved in the entire
recruitment and selection process.
Before recruiting for a new or existing position, it is important to invest time in gathering
information about the nature of the job and conducting a job/work anaylsis of that role,
asking the following questions:

Has the function changed?

Have the work patterns, new technology introduced or new products altered
this job in anyway?

Will there be any changes anticipated which will require different or more
flexible skills from the new candidate?

What skills do we need the new candidate to have that the existing job holder
didnt have but needed?

These answers will enable you to clarify the actual requirements of the job and how it fits
into the rest of the organisation. It is recommended that you use the exit interview from
current job holders to identify any gaps, problem areas or skills that are required for the new
job holder to the employer's attention bring about effective change in that role. A systematic
approach towards this will show that you are not just thinking about the content (such as the
tasks) making up the job, but the jobs purpose, the outputs required by the job holder, what
skills and aptitudes are required and how it fits into the organisations culture and structure.

Upon completing your job analysis for that role, you will be able to form the basis of your
new or modified job description and person specification. After updating your job description
and personal specification you will be able to start looking at methods of how to attract the
right type of candidate for the role, managing the recruitment process. The entire recruitment
and interview process must be conducted in a clear, fair, transparent and unbiased
professional manner.
Employers must be aware that all advertisements placed should be genuine and relate to a job
that actually exists. The adverts should appeal to all sections of the community using positive
visual images and wording. It is considered best practice to get another HR colleague to proof
read your advert before you take any action. Employers must ensure that there is nothing
discriminatory concerning age, sex, marital status, sexual orientation etc within the advert. As
your advert will have to adhere to the Human Rights Act
Therefore, it would be recommended and considered best practice to include HR in all
recruitment, selection processes and interviews even though this is not widely practised in
globally, it is the global trend, as better management of the recruitment advertisement budget
and its accounting can lie with HR.
Screening and Skill Matching is a specialist HR function. A vast range of psychological
testing and skills and competency matching software options are available. Normally, the HR
practitioner accompanies the interview panel with an organisational view to helping line
managers in making decisions on the suitability of the candidates to the organisational
culture. Check out the HR Tool Kit or HR Resources
Successful recruitment depends upon finding people with the necessary skills, expertise and
qualifications to deliver organisational objectives and the ability to make a positive
contribution to the values and aims of the organisation.
After going through such a lengthy task of recruiting the right person for the job, you will
want to ensure that you keep this person for your organisation. Your new employees
impression of the organisation will be made on how well they have been treated on their first
day at the office. It is very important that someone inducts the new employee on their first
day or within the first week. Well-planned induction enables new employees to become fully
operational quickly and should be integrated with the recruitment process.
This approach also means that new employees can settle in and start contributing effectively
6

to the organisation's business as soon possible. All new employees should know the
organisation's aims, objectives, organisations policies and what is expected of them.
HR Tool Kit:

Recruitment

HR Guide to Writing a Job Description and Person Specification

Employee Background Checks

Sample Guide of a Staff Handbook

Induction Process

KiwiSaver

Individual Employment Agreements

Workbridge Guide to Recruiting Disabled People

Casual Employment

Psychometric Testing

Reference Checking Agencies

Recruitment Agencies

Example of Job Description Template

Generic Job Analysis Template

Good Faith

CHAPTER 2
COMPANY PROFILE

2.1 COMPLETE NAME OF THE COMPANY:Company Name: - MOBISOFT HR BUSINESS SOLUTIONS

MOBISOFT-HR SYMBOLISES the dream come true for hr professionals in e-recruitments.
Conceptualized to achieve the target to match the best in the industry with the best talent
available and bringing the two ends closer to each other by integrating the talent with
technology. MOBISOFT HR believes in creating a win-win situation for their clients as well
as their candidates.

2.2VISION:Our vision is to transpose the recruitment industry to new era where technology and human
resource work to generate superior results.

2.3 STRENGTHS:2.3.1 Technology oriented organization:

MOBISOFT HR BUSINESS SOLUTIONS take pride in themselves by calling them erecruitment firm where everyone work in almost paperless environment. Moreover companys
100% lean and flexible organization structure allows company to get the best talent from the
industry to work to the client needs.

2.3.2 Ever growing pool of talented candidates.

MOBISOFT HR is a key to access fresh as well as talented pool of candidates which will
match the everlastings demand of organization growth. Supported by all the available search
engines and portals company is capable of tapping the flow of candidates towards the
organization. Moreover companys skilful hands chose the right and most continent talent to
mach up clients expectations.
9

2.3.3 Cost reduction

Unlike the traditional placement bureaus, mushrooming placement agencies which cause sky
high bills, MOBISOFT HR believe in a long lasting partnership therefore with technology and
committed backup of people company is able to reduce organisations hiring costs significantly
and in fact increase the quality standards uncompromisingly.

2.4 SELECTION PROCESS:MOBISOFT HR follow a unique e-selection process to give the best available talent in
industry.

2.5 RECRUITMENT PROCESS OF MOBISOFT HR BUSINESS SOLUTIONS:-

1) Understanding Client: As soon as client comes in contact with company, company first
understand the client and their work environment through website, media, print and through
personal interactions and visits.

2) Understanding the requirement: After proper assessment of company, consultancy

access the requirement of client through proper study like position, experience, and organization
structure via proper job evaluation.

3) Searching for right talent: Once the company properly understand the above, search is
done through companys databases for the right talent.

10

4) Picking the right talent: After going through hundreds of resumes companys highly
experienced team members supply handpicked talent and send them across for further
assessment. Here company try to give their customers all the possible options available in market
so as to have their ultimate decisions.

5) The interviews: Before sending the resumes the candidate is accessed and informed about
the company and with the indent of both, the company and candidate an interview is arranged by
consultancy at client place.

If by some reason the candidates are not fulfilling the company criteria (which are very rare
in APT HR consultancys case) then the steps from 2 to 5 are repeated.

Prestigious Clients of MOBISOFT HR Business Solutions:Suessen Asia Pvt Ltd.

Turbo Gears India Ltd.
Kirloskar Brother Limited
Lumax India Limited
Universal Construction Equipment
Tata Blue Scope
SN Casting Pvt Ltd
Hassia Packaging India Limited
Kimberly-Clark Lever Pvt. Ltd.
Fresenius Kabi India Ltd.
Whirlpool India Ltd.
Synise Technologies (Kalyani group)
11

Reliable Group
Uniklinger India Ltd
Ricoh India Ltd.
Sigma Software
Vibgyor Net
Genex Systems
Emerson Climate Technologies (India) Ltd
MB Computers Pvt Ltd
M.K. Electronics Pvt Ltd.
Consoul Consolidated Pvt Ltd
HDFC-SL

2.5 SEGMENT WITH MOBISOFT HR BUSINESS SOLUTIONS DEALING: Engineering & Manufacturing
FMCG
Banking
Insurance
Retail
IT

12

2.6 ABOUT HDFC STANDARD LIFE INSURANCE: Type Private

Founded 1994

HDFC Bank Ltd

Headquarters Mumbai, India.

Industry Insurance, Banking, Capital Markets.
Products Loans, Credit Cards, Insurance.
Website www.hdfcbank.com

2.6.1 History
The Housing Development Finance Corporation Limited (HDFC) was amongst the first to
receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the
private sector, as part of the RBI's liberalisation of the Indian Banking Industry in 1994. The
bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its
registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled
Commercial Bank in January 1995.
2.6.2 Branch network
Currently HDFC Bank has 758 branches, 1,716 ATMs, in 325 cities in India, and all branches
of the bank are linked on an online real-time basis. The bank offers many innovative products
& services to individuals, corporates, trusts, governments, partnerships, financial institutions,
mutual funds, insurance companies.
It is a path breaker in the Indian banking sector. In 2007 HDFC Bank acquired Centurion
Bank of Punjab taking its total branches to more than 1,000. Though, the official license was
13

given to Centurion Bank of Punjab branches, to continue working as HDFC Bank branches,
on May 23, 2008.

2.6.3 Recognition
Over a decade of its operations, HDFC Bank has been recognized, rated and awarded by a
number of organizations

14

CHAPTER 3
REVIEW OF LITERATURE

15

Recruitment and Selection

Recruitment is one of the most important parts of HR, as if you get this process right youre
halfway there, as you have minimised any potential employees issues that can arise in future.
However, if the recruitment is not done effectively then this will have wide reaching
implications for the organisation long term.
Therefore, it is still quite amazing how often employers can get this process wrong, either
through neglect or ignorance. Even though everyone is aware how important and more
importantly how expensive it is to recruit employees in our current market. The latest
statistics show that to replace an existing member of staff it will cost you two and a half times
the employee's salary. Therefore, it is important that the HR is involved in the entire
recruitment and selection process.
Before recruiting for a new or existing position, it is important to invest time in gathering
information about the nature of the job and conducting a job/work anaylsis of that role,
asking the following questions:

Has the function changed?

Have the work patterns, new

technology introduced or new products
altered this job in anyway?

16

Will there be any changes anticipated

which will require different or more
flexible skills from the new candidate?

What skills do we need the new

candidate to have that the existing job
holder didnt have but needed?

These answers will enable you to clarify the actual requirements of the job and how it fits
into the rest of the organisation. It is recommended that you use the exit interview from
current job holders to identify any gaps, problem areas or skills that are required for the new
job holder to the employer's attention bring about effective change in that role. A systematic
approach towards this will show that you are not just thinking about the content (such as the
tasks) making up the job, but the jobs purpose, the outputs required by the job holder, what
skills and aptitudes are required and how it fits into the organisations culture and structure.
Upon completing your job analysis for that role, you will be able to form the basis of your
new or modified job description and person specification. After updating your job description
and personal specification you will be able to start looking at methods of how to attract the
right type of candidate for the role, managing the recruitment process. The entire recruitment
and interview process must be conducted in a clear, fair, transparent and unbiased
professional manner.
Employers must be aware that all advertisements placed should be genuine and relate to a job
that actually exists. The adverts should appeal to all sections of the community using positive
visual images and wording. It is considered best practice to get another HR colleague to proof
read your advert before you take any action. Employers must ensure that there is nothing
discriminatory concerning age, sex, marital status, sexual orientation etc within the advert. As
your advert will have to adhere to the Human Rights Act (HRA) 1993, the Fair Trading Act
and the Privacy Act. Check out the Department of Labour: Hire Guide or HRINZ
Recruitment Guide.
Therefore, it would be recommended and considered best practice to include HR in all
recruitment, selection processes and interviews even though this is not widely practised in
17

New Zealand, it is the global trend, as better management of the recruitment advertisement
budget and its accounting can lie with HR.
Screening and Skill Matching is a specialist HR function. A vast range of psychological
testing and skills and competency matching software options are available. Normally, the HR
practitioner accompanies the interview panel with an organisational view to helping line
managers in making decisions on the suitability of the candidates to the organisational
culture. Check out the HR Tool Kit or HR Resources
Successful recruitment depends upon finding people with the necessary skills, expertise and
qualifications to deliver organisational objectives and the ability to make a positive
contribution to the values and aims of the organisation.

After going through such a lengthy task of recruiting the right person for the job, you will
want to ensure that you keep this person for your organisation. Your new employees
impression of the organisation will be made on how well they have been treated on their first
day at the office. It is very important that someone inducts the new employee on their first
day or within the first week. Well-planned induction enables new employees to become fully
operational quickly and should be integrated with the recruitment process.
This approach also means that new employees can settle in and start contributing effectively
to the organisation's business as soon possible. All new employees should know the
organisation's aims, objectives, organisations policies and what is expected of them.

HR Tool Kit:

Recruitment

HR Guide to Writing a Job Description

and Person Specification

Employee Background Checks

Sample Guide of a Staff Handbook

18

Induction Process

KiwiSaver

Individual Employment Agreements

Workbridge Guide to Recruiting

Disabled People

Casual Employment

Psychometric Testing

Reference Checking Agencies

Recruitment Agencies

Example of Job Description Template

Generic Job Analysis Template

Good Faith

19

Chapter 4
RESEARCH METHODOLOGY

20

* RESEARCH METHODOLOGY
Research in common parlance refers to a search for knowledge. One can also define research
as a scientific search for pertinent information on a scientific topic. In fact, research is an art
of scientific investigation. Research Methodology is the techniques used in carrying out the
research. Research Methodology provides the researcher to know about the type of research,
type of data research plan and sampling plan used for the project. Research is a scientific and
systematic search for pertinent information on a specific topic. Thus when we talk of research
methodology we not only talk about research method but also conduct the logic behind the
methods we use in the context of our research study.

4.1 ABOUT FINANCIAL CONSULTANTS :4.1.1 Definition

FC is business associates of HDFC Standard Life who are able to recommend the best
solution based upon the individual customers need. Basically FC is an individual who
provides financial solutions to his clients by drawing his insurance policy i.e. the policy
holder is provided with the option of choosing the area of investment where he wants to
invest his premium money.
The number of certified financial consultants appointed by HDFC Standard Life increased
from 10645 in the year 2006 to 18296 in the year 2007. The company continues to
concentrates its efforts on to ensure the quality of its consultants through process of
screening, personal interviews and training.

4.1.2 Role of FC :1. Every FC has to work under a sales development manager, who reports to a
Business development Manager.
2. He can pursue it as a part time or full time job & can even operate from HDFC
Standard Lifes office or at his own convenient premises.
3. They are required to meet certain targets depending upon his potential.
4. They receive commission for the business they provide the company.
21

5. To summaries, its a part time opportunity for those who have good networking
skill & has the urge to earn through extra sources of income.

4.1.3 Nature of work:Agents increasingly offer comprehensive financial planning services, including retirement
and estate planning; as a result, in addition to offering insurance policies, agents sell mutual
funds, annuities, and securities. Agents must obtain a license in the States where they plan to
do their selling. Despite slower than average growth, job opportunities are good for college
graduates who have sales ability, excellent interpersonal skills, and expertise in a wide range
of insurance and financial services.

4.1.4 Eligibility
Regulation 4 of the regulations requires that a person desiring to obtain a license to become
an agent should fulfill the following obligations:1) Shall possess a minimum qualification of a pass in 12 standard conducted by a
recognized board or university. However if the resident resides in a place
where the population is less than 5000, a pass in 10 standard will do.
2) According to regulation 5 of the regulations an aspiring agent needs to-:
complete from an approved institution, at least 100 hrs of practical training in
life or general insurance which may spread over 4 to 5 weeks to act as an
insurance agent.
3) Complete from an approved institution, at least 150 hrs of practical training in
life and general insurance this may spread over 4 to 5 weeks to act as a
composite insurance agent.

22

4.1.5 Training and Support programs at HDFC Standard Life

IRDA (Insurance Regulatory & Development Authority) specified
100 hr training(Training options are available)
FC induction Program
Disha
Training on products, Competition analysis, Sales tools, Sales
Pitches, Handling
customer objections and Expanding customer base.
Business Development sessions.
Training and workshops for enhancing skills.

4.2 LEARNING OBJECTIVES: What is recruitment?

Sources of recruitment
Selection and selection process

4.3 HUMAN RESOURCE MANAGEMENT:In the fast changing environment, globalization, competition, increased opportunities and
career orientation and many other factors have made the traditional approach to personnel
management obsolete. The present situation demands a complete and strategic approach to
HRM. HRM strategy must fit in the overall strategy of the organization because it involves
long-term implications. The modern approach to the management acknowledges the interest
of the employees the major stakeholders of the organization. Every step in HRM is of great
importance and of them selection decisions stands out to be the most important.

23

* Selection decision can be sub divided into the following functions:

Determining the nature of the job to be filled
Determining the type of personnel required
Determining the sources of recruitment
Determining the selection process
The first step in placing the right man in the right job at the right time is determining the
nature of the job to be performed. In order to do the HR manager must consult the concerned
line manager and find out the specific nature of the job. Once the job profile has been made,
the characteristics of the candidate to fill in the job should be determined.
The next step is to decide the source from which we can procure the right people. This could
be either be from within the organization or from outside.

4.4FIGURE: Process of recruitment and selection

ADVERTISEMENT
FOR
RECRUITMENT

ENTERPRISES GOAL

24

JOB ANALYSIS

APPLICANTS

WORKLOAD ANALYSIS
MANPOWER
REQUIREMENT

JOB DESCRIPTION
JOB SPECIFICATION

SELECTION PROCESS

SELECTED CANDIDATES

4.5 RECRUITMENT:-A good recruitment plan has the following basic elements:
Job profile
Job specification
Recruitment source
Recruitment can be defined as the process of locating, identifying and attracting prospective
and capable employees to the organization.

4.6 JOB DESCRIPTION:Before the employees can be recruited, the manager must have a clear idea about the
activities and responsibilities required in the job being filled. Therefore job analysis is an
early step in the recruitment process. The accuracy of the individual specification and of all
the subsequent stages in selection will depend on the quality of the job analysis.

25

Therefore it is important to have it right.

A meeting between the person responsible for selection and the head of the
relevant department is necessary to decide the following:
1. The key characteristics of the job and the people who will fill it.
2. A time schedule for selection, based on the urgency with which the vacancy has to be
filled up.
3. How the exercise has to be handled internal/external.
4. The terms and conditions on which the job will be filled.
Once the job description has been determined and accompanying hiring or person
specification is developed. Hiring or person specification defines the education, experience,
skills that an individual should have in order to perform effectively in the position. The
characteristics specified should be relevant. Only those, which are demonstrably connected
with success or failure in the job, should be specified and independent. Any over lapping
elements should be avoided and assessable. The attributes that can be assessed with the
selection tools available should be included. In the recruitment process, the HR department
normally has primary responsibility for ensuring compliance with the mass of legislation and
subsequent legal decisions concerning discrimination. Access discrimination refers to hiring
considerations and practices that are based on the candidates membership in a particular
population subgroup and not related in any way to present or future job performance.
Treatment discrimination involves practices unrelated to job performance that treat subgroup
members differently from others once they are in the work force. Ultimately, however, the
human resources department must instruct and educate managers in the implications of
compliance for their respective departments. Even job titles can be sexist and reflect de facto
discrimination. For example, the job titles foreman and salesman are now outmoded. Many
companies have replaced them with supervisor and salesperson, respectively.

26

In recent years, a host of social issues are affecting both recruitment and
management more and more. The use of drug testing, AIDS testing, computer surveillance
and even genetic screening by many companies has stirred fears among workers and other
that employers are delving too far into workers personal lives.

4.7 SOURCES OF RECRUITMENT:Recruitment takes place within a labor market. This includes a mass of available people who
have the skills to fill open positions. Sources for recruitment depend on the availability of the
right kinds of people in the local labor market as well as on the nature of the positions to be
filled. An organizations ability to recruit employees often hinges as much on the
organizations reputation and the attractiveness of its location as on the attractiveness of the
specific job offer.
In general, the sources of employment can be classified into the following two types:
Internal
External
Many organizations have a policy of recruiting or promoting from within except in very
exceptional circumstances. Filling a job opening from within the organization has the
following advantages:
Individuals recruited from within are already familiar with the organization and its
members and this knowledge increases the likelihood they will success

A promotion from within fosters loyalty and inspires greater effort among
organization members

It is usually less expensive to recruit or promote from within than to hire from outside
the organization.

27

1. The disadvantages of the internal recruitment are as follows:

The obvious limitations of available talents
It may encourage complacency among the employees who assume
promotions
It reduces the chances of fresh viewpoints entering the organization
Certain recruiting sources are found to be more effective than others. Some sources are
discussed in the following sections.
Advertisement is a very important and common source of recruitment. Companies advertise
in widely circulated newspapers. Employment news is a leading Government publication
which serves as a source of recruitment. Sometimes advertisements are placed in magazines
read only by particular groups. This includes for Dataquest for computer professionals,
business today for management etc. Advertisements for jobs, like any other advertisements,
compete with other advertisements for attention. Marketing people have a simple and
effective method called AIDA for creating good advertisements. The full form of AIDA is as
follows:
A: Attract the readers attention
I: Generate interest in the vacancy
D: Create desire for the job
A: Simulate the reader to take action
Employment exchange-- Employment exchange, established in various cities as per public
policy, offer yet another important source of recruitment.
Placement agencies-- Some agencies and associations are established to supply candidates in
terms of the requirements. This is a good source for recruitment especially for professional
and managerial positions.

28

Educational institutions-- Some companies make special efforts to establish and maintain
constructive relationships with colleges so as to get the suitable qualified manpower.
Recommendations of present employees-- Some companies ask the present employees to
recommend new recruits.

4.8 SELECTION:Once the recruiting effort has developed a pool of candidates, the next step in the HRM
process is to determine who is best qualified for the job. This step is called the selection
process. Selection involves mutual decision and prediction. The enterprise decides whether to
make a job offer and how attractive the offer should be. The job candidate decides whether
the enterprise and the job offer fit his or her needs and personal goals. The process also seeks
to predict which applicants will be successful if hired. Success, in this case, means
performing well on the criteria the enterprise uses to evaluate employees. Selection decision
can result in four possible outcomes. They are represented below in table-

Job Performance

Selection Decision
Accept

Reject

Successful

Correct Decision

Reject Error

Unsuccessful

Accept Error

Correct Decision

Correct selection decisions are those where the candidate was predicted to be successful in
advance and prove to be successful on the job. At times the applicant is predicted to be
unsuccessful and, as expected, performs unsatisfactorily after getting selected. While in the
first case, we the worker is successfully accepted, in the later the worker is successfully
rejected. Errors arise when we reject a candidate who would have performed successfully on
the job. This is termed as reject error. In certain situations a worker is accepted ultimately and
performs unsatisfactorily. This is called accept errors. Both the above errors can be
minimized if the system is impartial, has a degree of objectivity and follows a fairly uniform
29

standard of assessment. A skilled manager should understand the benefits of good selection
and also should be aware of the cost of poor selection decision.

4.9 STEPS IN SELECTION PROCESS:There are broadly four steps in the selection process and each step can further be subdivided
depending on the need.

1. Screening of application forms

Application forms are wealth of information and should be used wisely. It should be
interpreted correctly. The primary objective would be to eliminate applicants failing to meet
minimum qualifying requirements.

2. Tests
These include tests of intelligence, aptitude, ability and interest. Tests in intellectual ability,
spatial and mechanical ability, perceptual ability and motor ability have shown to be
moderately valid predictors for many semi-skilled and unskilled operative jobs in the
industrial organizations. Intelligence tests are reasonably good predictors for supervisory
positions. But the burden is on management to demonstrate that any test used is job related.
There are two sets of tests performance and psychological.

The following are some such tests:

Performance simulation tests-- These tests are aimed to find out if the applicants can do the
job successfully by asking him to do it.

Work sampling-- It is an effort to create a miniature replica of a job. The applicants

demonstrate that they possess the necessary skills by actually doing the tasks

30

 Assessment center-- In assessment centers, line executives, supervisors and qualified

psychologists evaluate candidates as they go through two to four days of exercises that
simulate real problems that the candidates are likely to encounter on the job.

Psychological test-- Psychological tests are considered extremely beneficial. They, however,
can be easily misused and misinterpreted by untrained people. Good tests are useful in the
right circumstances because they can provide an objective measure of peoples abilities.
These tests are a most sophisticated tool for measuring human characteristics and are
unbiased as compared to other tests and are therefore extensively used in selection decision.
Some such psychological tests are described below:

(i) Intelligence tests-- Certain intelligence tests that are used now a days are Binet Simon
test, Thurstone test and Wechsler Bellevue Intelligence Scale.

(ii) Aptitude tests-- These tests measure whether an individual has the capacity or latent
ability to learn a given job if given adequate training. Some of the tests under this category
are:
MATRIX (Management Trial Exercise) designed by Proctor and Gamble
CAT (Clerical Aptitude Test)-- It is to assess vocabulary, spelling, arithmetical ability,
details checking, etc
PAT (Pilot Aptitude Test)-- It is to assess coordination between hands and feet movements
Computer Aptitude Test-- It is to assess power of reasoning and analysis

31

(iii)Interest tests-- These tests are designed to find out the interest of an applicant in the job
he has applied for. Two of the most widely used tests are as follows:
Strong vocational interest blank-- In the test the applicant is asked whether he likes, dislikes
or is indifferent to many example of school subjects occupations, amusements, peculiarities
of people and particular activities. The answers given are compared with the answers earlier
given by successful people in specific professions and occupations
(iv)Personality tests-- This test is of great importance and should be conducted for all posts.
Individuals possessing intelligence, aptitude and experience for a certain job have often been
found unsuccessful because of their inability to get along with others.
Some of the personality tests are given below:
3. Interview
Interviews are designed to probe into areas that cannot be addressed by the application form
or tests. These areas usually consist of assessing candidates motivation, ability to work under
stress, inter-personal skills and ability to fit-in the organization. The use of the interview in
selecting executives makes sense whereas for most lower level jobs appears questionable.

4. Selection decision
In practice, the final decision will probably be between three or four candidates. It is unlikely
that any of the three or four remaining applicants meet the person specification in every way.
The personnel specialist together with line management will now have to weigh up the
strengths and weaknesses of each candidate. The right decision depends on management
judgment.
Recruitment and selection is vital function of HR in the organization. Slightest mistake will
lead to a square peg in round hole. Instead of following a blind elimination process, focus
should be on selecting people based on the skills and competencies required for the job.

32

1. Recruitment is the process of searching the candidates for employment and

stimulating them to apply for jobs in the organisation WHEREAS selection involves
the series of steps by which the candidates are screened for choosing the most suitable
persons for vacant posts.

2. The basic purpose of recruitments is to create a talent pool of candidates to enable

the selection of best candidates for the organisation, by attracting more and more
employees to apply in the organisation WHEREAS the basic purpose of selection
process is to choose the right candidate to fill the various positions in the organisation.

3. Recruitment is a positive process i.e. encouraging more and more employees to

apply WHEREAS selection is a negative process as it involves rejection of the
unsuitable candidates.

4. Recruitment is concerned with tapping the sources of human resources WHEREAS

selection is concerned with selecting the most suitable candidate through various
interviews and tests.
5. There is no contract of recruitment established in recruitment WHEREAS
selection results in a contract of service between the employer and the selected employee.

NEED FOR STUDY:Insurance industry scenario having metamorphosed from a sellers market to a buyers
market, marketing today gives the cutting edge. Increasingly, companies are trying to make
more FCs for their company for selling their products. The channel members on their side
are looking at the company name and brand image as the deciding factor with emphasis on
facts like margins, discounts, credits, price levels, delivery regularity and finally advertising
promotion.

33

This project is executed to recruit the the interested as well as suitable candidates. to
find out whether the candidates are aware of various new positions and packages available in
HDFC STANDARD LIFE. And finally check for the candidates

feedback towards the

company.
RESEARCH DESIGN:A research design is the specification of the methods and acquiring the information needed. A
research design is the arrangement of condition for collection and analysis of data in a
manner that aims to combine relevance to the research purpose with economy in procedure.
Research design is the plan and structure of investigation so conceived as to obtain answers
to research questions the plan is overall schemes or program of the research. It includes an
outline of what the investigator will do from writing hypotheses and their operational
implication to the final analysis of data. A structure is the framework, organization, or
configuration of the relation among variables of a study. A research design expresses both the
structure of the research problem and the plan of investigation used to obtain empirical
evidence on relations of problem.

TYPE OF RESEARCH DESIGN:Descriptive Research

Descriptive research includes surveys and fact finding enquires of different kinds. The
major purpose of descriptive research is description of the state of affairs, as it exists at
present. This method is undertaken when the researcher is interested in knowledge about the
characteristics of certain groups such as people.
DATA COLLECTION :- There may be different types of information and data. Some of the
information may be published, while some is unpublished, some is incomplete and some is
reliable data and some is biased. It is necessary for the researcher to know of information
which is usually employed in marketing research work, and the types of sources from which
it is generally collected. The research problem decides the nature of the source of data. There
may be secondary data and primary data.

34

Primary Data Source

Primary data is collected during the course of asking questions by performing survey.
Primary data is obtained either through respondent, either through questionnaire or personal
interviews. I have collected the primary data through telephone conversations and personal
interviews.
Secondary Data Source
Information already collected by the company guide on various job sites and types of resumes
available on the sites.
RESEARCH INSTRUMENT:I have used the structured tell calling script in my research process, which was carefully
designed keeping the entire objective in my mind. I also used interviews for collecting data.
SAMPLING:Sample Plan
A sample is a fraction of a subset of population through a valid statistical procedure so it can
be regarded as representative of the entire population. The valid statistical procedure of
drawing sample from the population is called sampling.
Sample Size
The larger the sample, the more accurate the result would be but practically it is not feasible
to target the population. In this project, being aware of the time constraints, sample size is 50.

35

CHAPTER 5
DATA ANALYSIS

36

DATA ANALYSIS
Heading Classification Based on Age Group of Respondents
Table of information
Age Group
25 30
30 35
35 40
40 45
45 50

No. Of Respondents
22
13
8
5
2

25

Interpretation

20

Highest number of
Respondents from
Age group below
30, mostly BPO
executives, and

25 30

15

30 35
35 40

10

40 45
45 50

students 38%
0

No. Of Respondents

Heading Income level of Respondents

Table of information
Below 1.5 lakh
15

1.5-3 lakh
10

3-5 lakh
18

37

Above 5 lakh
7

Interpretation
Highest, 18 respondents from income level 3 - 5 lakh, and lowest 7 respondents from income
level above 5 lakh.

Heading satisfaction level of respondents about recruitment processOptions

Satisfied

Moderately

Not Satisfied

Satisfied
No. of employes

15

25

38

10

Interpretationmost of the employees were moderately satisfied with recruitment process of HDFC STD
LIFE.

39

Heading No. of Financial Consultants getting proper feedback after recruitment.

Options

Yes

No

No of Employees

30

20

Interpretation- very few candidates get proper feedback.

40

Market share of HDFC Standard Life V/s other private companies

Table

of information
Company
LIC
ICICI
Bajaj Allianz
HDFC Standard Life
Birla Sun Life
Tata AIG
SBI Life
Max Newyork
Aviva
Others

Premium
9267cr
999cr
817cr
428cr
262cr
224cr
205cr
186cr
156cr
405cr

Market Share
71.56%
7.44%
7.33%
2.96%
1.84%
1.78%
1.52%
1.32%
1.12%
3.13%

LIC
ICICI
Bajaj Allianz
HDFC Standard
Life
Birla Sun Life
Tata AIG
SBI Life
Max Newyork
Aviva
41

Others

FINDINGS

42

7.1 MAJOR FINDINGS:After analyzing the responses given by the consultants, the various reasons for non
performance are as follows-:
1) Few respondents believed that they themselves are not fit for the job as they lack
skills to convince people.
2) Some blamed negligence on part of the office staff in terms of lack of proper product
training, knowledge about product and procedures. They believed they did not get the
attention they deserve.
3) Frequent changes or job hopping among the SDMs created a confusion regarding
accountability so as to who is their reporting superior.
4) There are also a hand full of consultants whose licenses have expired .Some of these
have been great performers and still have the potential of doing great, but completely
out of negligence they have not renewed their licenses and no one else stepped
forward to sufficiently motivate them to do so.

43

7.2 LIMITATIONS OF THE PROJECT

3) The study covers the part of Pune region only and due to the limited sample size.
4) The facts revealed in the study may not generalize.
3) While calculating the percentages, approximations are made to the nearest figures.
4) The analysis is based on what public & FCs opinion at the time of survey. The study
may not produce the same findings if done at a later stage of time.
5) While filling the questionnaires public & FCs could not provide 100% accurate
information because of their personal limitations.
6) Biased reply of many people.
7) Time constraints as limited time for the survey.

44

CHAPTER 6
CONCLUSION AND RECOMMENDATIONS

45

CONCLUSION
There are many candidates who are interested in HDFC Standard Life because of its
good brand image in the market but is still lagging because poor advertisement and less
command over FCs. There is a lack of coordination between some of the SDMs and FCs
i.e. why some of the consultants are becoming dead.
The company must create awareness for their new products among the FCs and the
common public by the help of advertising, putting hoardings in main streets of the cities or by
giving audio visual presentation to make awareness among eligible candidates. It is clear that
the only way in which insurance company can address the challenges and capitalize on the
opportunities is by investing in systems that are customizable, open, and flexible and can be
easily integrated with legacy and other back-office platforms.
Such a system will help them make their distribution chain more effective and
efficient, push new products through the distribution pipeline at a faster pace, reduce
operational costs and inefficiency and position themselves as a preferred partner with
channels.
Although the candidates are satisfied with the recruitment process, company must
concentrate on follow up of candidates.
SUGGESTIONS AND RECOMMENDATIONS:
Following are the suggestions to improve the recruitment and selection procedures at HDFC
STANDARD LIFE
1) The process should be made future oriented this can be done by keeping skills,
attitude and knowledge in consideration instead of just emphasizing on
current job and experience.
2) The levels for selection procedures should be minimized for lower level staff

selection.
3) The individual departmental needs should be communicated within the
company during general meetings, also the job profiles should be designed in
such a way that it reinforces with the need of departments so as to avoid
interdepartmental frictions.
4) The recruitment and selection process should be designed in such a way that

the time and economy factor are well observed.

46

BIBLIOGRAPHY

BIBLIOGRAPHY
BOOKS:1. Organizational Behavior by S.Y. Taylor
2. Personnel Management by C. B. Memoroia & S.V.Ganakar (Himalaya Publishing House)
3. Personnel & Human Resource Management by A.M. Sharma (Himalaya Publishing
House)

47

WEBSITES:1. www.hdfcbank.com
2. www.recruitment.com
3. www.irdagov.com

ANNEXURE

48

ANNEXURE
Tellecalling script to contact candidates
Name.
Age
Qualification. Occupation
Address. Married , Single _
Phone no...
Good morning/ Good afternoon/ good evening Mr.
I am Navid from MOBISOFT HR BUSINESS SOLUTIONS
1) is this the right time to talk to you?
a) Yes
b) No
if no, then
2) when can I talk to you?
If yes,
2) What kind of occupation are you into?
a) Full time b) Part time
3) What is your income level?
a) Below 1.5 Lakh b) 1.5 3 Lakh
c) 3 -5 Lakh d) Above 5 Lakh
4) Do you have any other income generating source?
a) Yes b) No
5) Would you like to add any other source to your monthly earnings?
a) Yes b) No
If no, why?
If yes, proceed
6) If such source is added how much do you expect to earn from it?
a) 5000-10,000 b) 11,000-15,000
49

c) 16,000-25,000 d) 26000 and above

7) If given a chance would you like to work with HDFC Standard Life?
a) Yes b) No
If yes, proceed
8) Do you mind if I call you in this regard?
a) Yes b) No

50