Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
REPORT
UNDER TAKEN
A Research report prepared and submitted for the partial requirement and
fulfilment of the MBA program at MAHARANA PRATAP ENGINEERING
COLLEGE (Approved by AICTE, Govt.of India)
Submitted To:
Submitted By:
Kavita Methiya
M.P.E.C Kanpur
Roll No.1404670018
ACKNOWLEDGEMENT
If words are considered to be signs of gratitude then let these words convey the very same, my
sincere gratitude to Bharti AXA Life Insurance for providing me an opportunity to work with
Bharti AXA and giving necessary directions on doing this project to the best of my abilities.
I am highly indebted to Mr. Veerendra Pratap ( Sr. BRANCH SALES MANAGER) and
company project guide Mr. Rohit Tomer (AGANCY MANAGER) , who has provided me the
necessary information and also for the support extended in the completion of this report and
there valuable suggestion and comments on bringing out this report in the best way possible.
I have to thanks also my classmates for supporting me for this research report.
DECLARATION
I Kavita Methiya, hereby declare that this work entitled STUDY AND
ANALYSIS OF RECRUITMENT AND SELECTION PROCEDURE is my
work carried out under the guidance of Dr. Mamta shukla. This report neither full
nor in part has ever been submitted for award of any other degree of either this
University or any other University.
Kavita Methiya
MBA 4th Sem.
Roll No.- 1404670018
Table of Contents
EXECUTIVE SUMMARY.............................................................................0
INTRODUCTION......................................................................................2
OBJECTIVE OF
STUDY
3
COMPANY PROFILE:................................................................................4
CORPORATE PROFILE............................................................................16
HRM POLICY.........................................................................................20
PROMOTERS.........................................................................................24
RESEARCH
METHODOLOGY
...31
SELECTION AND RECRUITMENT STEPS....................................................34
RECRUITMENT PROCESS........................................................................35
SELECTION PROCESS............................................................................36
FINDINGS AND SUGGESTIONS................................................................45
RESEARCH ANALYSIS............................................................................56
CONCLUSION........................................................................................57
ANNEXURE...........................................................................................58
INTERVIEW EVALUATION FORM..............................................................59
OFFER CHECKLIST................................................................................60
REFERENCE CHECK FORM......................................................................61
EMPLOYEE REFERRAL FORM..................................................................63
OFFER LETTER......................................................................................65
BIBLIOGRAPHY.....................................................................................66
PREFACE
This project was carried out in the HR department of BHARTI AXA Life
insurance co. Jammu. Bharti AXA Life insurance is only concern with life
insurance and General insurance.
The objective of this project is to study the entire Recruitment & Selection
processes at Bharti AXA Life insurance. The Human Resources Department of
Bharti AXA Life insurance carries out both these functions quite effectively.
Hence, the procedure of Recruitment is studied thoroughly and some inferences
accordingly. The data and information collected is with respect to working
procedure specifically regarding recruitment procedure, the data referred for this
study is for the year 2010-11. I have applied the concept and gained knowledge
learned during the course in at BHARTI AXA In practical business situation and
understood these concepts in better way. The research work really has poured of
immense learning for me. I would like to thank whole heartedly to Bharti AXA,
for giving me this exposure.
INTRODUCTION TO PROJECT
RECRUITMENT& SELECTION
Recruitment and selection is the process of identifying the need for a job, defining
the requirements of the position and the job holder, advertising the position and
choosing the most appropriate person for the job. Retention means ensuring that
once the best person has been recruited, they stay with the business and are not
poached by rival companies.
Undertaking this process is one of the main objectives of management. Indeed, the
success of any business depends to a large extent on the quality of its staff.
Recruiting employees with the correct skills can add value to a business and
recruiting workers at a wage or salary that the business can afford, will reduce
costs.
The term selection denotes a choice of one or some from amongst many. The
vital importance of making the right selection of staff for any enterprise cannot be
overemphasized. While selecting employees, it should be borne in mind that they
are the greatest source of an organization. Building and money are always
secondary. The critical element is always the spirit, teamwork and the skill of the
organizations personnel. Everything can be bought or reproduced except skilled
and dedicated service.
Objective to Study
The aim of the present study is accomplishing the following objective:
To understood labour turn over rate is more in insurance sector.
To understand the recruitment and selection procedure.
To know about the functions of HR other than recruitment.
Over all understanding and brief knowledge of life insurance industry.
COMPANY PROFILE
Bharti AXA Life Insurance
is a joint venture between
Bharti,
one
of
Indias
leading
business
groups
BILLION
EUROES
(RS.50
24,
500.CRORE)
ASSET
UNDER
MANAGEMENT
Bharti AXA life insurance is advertising regularly and creating brand value for its
products and services. It has competitors like Aviva, ICICI, Max, Reliance, HDFC
standard life, and LIC
4
In India only 25% of the population has life insurance. So Indian life-insurance
market is the target market of all the companies who either want to extend or
diversify their business.
Insurance is such industry where labour turn over is the maximum than that of any
other industry hence there is lot of scope for HR to work in recruitment and
selection process.
On the whole Bharti AXA life insurance is a good place to work at. Every new recruit
is provided with extensive training on unit linked funds, financial instruments and the
products of Bharti AXA. This training enables an advisor/sales manager to market the
policies better. The company should try to create awareness about itself in India. In
the global market it is already very popular. With an improvement in the sales
techniques used, a fair bit of advertising and modifications to the existing product
portfolio, Bharti AXA would be all set to capture the insurance market in India as it
has around the globe.
KEY MILESTONES
1912 : The Indian Life Assurance Companies Act enacted as the first statute to
regulate the life insurance business.
1928 : The Indian Insurance Companies Act enacted to enable the government to
collect statistical information about both life and non-life insurance businesses.
1938 : Earlier legislation consolidated and amended by the Insurance Act with the
objective of protecting the interests of the insuring public.
1956 : 245 Indian and foreign insurers along with provident societies were taken
over by the central government and nationalized. LIC was formed by an Act of
Parliament- LIC Act 1956-with a capital contribution of Rs. 5 crore from the
Government of India.
Role of IRDA:
Protecting the interests of policyholders.
Establishing guidelines for the operations of insurers, and brokers.
Specifying the code of conduct, qualifications, and training for insurance
intermediaries and agents.
Promoting efficiency in the conduct of insurance business.
Regulating the investment of funds by insurance companies.
Specifying the percentage of business to be written by insurers in rural
sectors.
Handling disputes between insurers and insurance intermediaries.
10
Now Indian customers are aware of insurance industry and insurance products
provided by companies. They have become more sensitive. They would not accept
any type of insurance product unless it fulfills their requirements and needs. In
historic days customers looking at insurance products as a life cover which can
provide security against any unacceptable events, but now customers look at
insurance products as an investment as well as life cover. So todays customers
wants good return from the insurance companies. The Indian customers forms the
pivot of each companys strategy.
39%
CORP. BANKS
2%
1%
MUTUAL FUNDS
2%
NBFCS
3%
GOVT. BONDS
13%
INSURANCE
13%
21%
CURRENCY
6%
11
12
up with an Indian company and this foreign insurance company can have an
investment of only 24% of the total start-up investment.
Indian insurance industry can be featured by:
Low market penetration.
Ever growing middle class component in population.
Growth of customers interest with an increasing demand for better
insurance products.
Application of information technology for business.
Rebate from government in the form of tax incentives to be insured.
Today, the Indian life insurance industry has a dozen private players, each of which
are making strides in raising awareness levels, introducing innovative products and
increasing the penetration of life insurance in the vastly underinsured country.
Several of private insurers have introduced attractive products to meet the needs of
their target customers and in line with their business objectives. The success of
their effort is that they have captured over 28% of premium income in five years.
The biggest beneficiary of the competition among life insurers has been the
customer. A wide range of products, customer focused service and professional
advice has become the mainstay of the industry, and the Indian customers forms
the pivot of each companys strategy. Penetration of life insurance is beginning to
cut across socio-economic classes and attract people who have never purchased
insurance before.
14
Life insurance is also now being regarded as a versatile financial planning tool.
Apart from the traditional term and saving insurance policies, industry has seen the
entry and growth of unit linked products. This provides market linked returns and
is among the most flexible policies available today for investment. Now products
are priced, flexible, and realistic and sustain so people in better position to
understand the risk and benefits of the product and they are accepting these
innovative products.
So it is clear that the face of life insurance in India is changing, but with the
changes come a host of challenges and it is only the credible players with a long
term vision and a robust business strategy that will survive. Whatever the
developments, the future and the opportunities in this industry will surely be
exciting.
There are 12 private players in Indian life insurance market.
6 bank owned insurers - HDFC standard life, ICICI prudential, ING Vysya,
MetLife, OM Kotak, SBI life
6 independent insurers - Aviva, ANP sanmar, Birla sun life, Bajaj Allianz, Max
New York life, Tata AIG, Bharti AXA
Major international insurers are- Prudential and Standard life from UK, Sun life of
Canada, AIG, MetLife and New York life of the US.
15
YEAR
PRIVATE PLAYER
FY03
110
10
FY04
120
20
FY05
130
40
FY06
140
60
FY07
240
160
16
Corporate Profile
Bharti AXA Life Insurance is joint ventures between Bharti, one of Indias
leading business groups with interests in telecom, agree business and retail, and
AXA, world leader in financial protection and wealth management. The joint
venture company has a 74% stake from Bharti and 26% stake of AXA.
The company launched national operations in December 2006. Today, company
has over 5200 employees across over 12 states in the country. Our business
philosophy is built around the promise of making people "Life Confident".
As company expand our presence across the country to cater to your insurance and
wealth management needs with our product and service offerings, company
continue to bring 'life confidence' to customers spread across India. Whatever your
plans in life, you can be confident that Bharti AXA Life will offer the right
financial solutions to help you achieve them. Company is working on the base of
five core values Professionalism
Innovation
Team Spirit
Pragmatism
Integrity
BHARTI ENTERPRISES
BHARTI
TELETECH
TELETECH
SERVICES
BHARTI
TELECOM
BHARTI
FOOD
BHARTI
TELEVENTURE
17
BHARTI
SEYCHELLES
BHARTI
TELESOFT
.
50 Million (500 Lakhes Customers)
130,000 Employees
72 Billion Euros (Rs. 4, 16,300. Crores) Revenue
869 Billion Euros (Rs.50 24, 500.Crore) Asset Under Management
Key features:
Using multi-distribution, multi product platform techniques.
Adapting AXA's best practices as a sound platform for profitable growth.
Leveraging Bharti's local knowledge, infrastructure and customer base.
Delivering high levels of shareholder return.
Building long term value with business partners by enhancing the
proposition to their customers.
Retaining the best talent in India.
18
Vision
To be a leader and the preferred company for financial protection and wealth
management in India.
Promoter's Strength:
Bharti Enterprises is one of Indias leading business groups with interests in
telecom; agree business, insurance and retail. Its flagship telecom brand 'Airtel',
has over 60 million customers across the length and breadth of India.
AXA Group is worldwide leader in Financial Protection. AXA is among Fortune
Global 15 companies having 120,000 employees and is represented in over 60
countries worldwide.
Largest Insurer
AXA Group has 120,000 employees and is represented in over 60 countries
worldwide
Service Excellence
Company stand by three main commitments to our customers and agents, effective
local service, professional expertise, and professional code of ethics. Company aim
to build close and lasting relationships by offering expert advice, providing a
supportive environment and a full range of adapted solutions.
19
Strategy
To build long term value with our business partners by enhancing the
proposition to their customers
To be the employer of choice to attract and retain the best talent in India
20
Strategic differentiators
Current Asia product range which is a strong match to products sold to the
mass and mass affluent
Global scale providing cost effective and speedy re-use of systems, products
and business capability
Strong AXA and Bharti brands which can be leveraged to attract and retain a
high quality management team.
HRM POLICY
The guiding Human Resources principles at Bharti AXA
are:
Promote ongoing dialogue between managers and the people who report to
them
Bharti AXA recognizes its employees as most important asset for its continued
growth. HRM in Bharti AXA strives hard to ensure continuous organizational
21
growth by nurturing strength of its employees and providing the environment &
opportunity for every individual to raise his/her highest potential identity and
achieve his/her personal goal, within organizational, societal, and national
objective. It shall endeavor to upload dignity of individuals by recognizing their
worthy contribution and making them feel proud partners in progress through
following measures: Ensuring high degree of selectivity in the recruitment of employees/trainees
explicitly on criteria of knowledge, skills and attitudes so as to secure super
achievers and nurture them to excel in their performance.
Impart such induction, orientation and training so as to match the individual
23
3) Free and healthy working environment Provide facilities for all round growth of individual by training in and
outside the organization, re-orientation, talent, mobility and selfdevelopment through self-motivation.
Groom every individual to realize his/her potential in all facets while
contributing to attempt higher organizational & personal goals.
Build teams and foster teamwork as primary instrument in all activities.
Recognitive worthy contribution is time and appropriately so as to maintain
a high level of employee motivation and morale.
Appraisals of promotion shall be ethical and impartial.
Implement equitable, scientific and objective system of rewards, incentives
and control.
Promoters
Bharti Enterprises
Bharti Enterprises is one of Indias leading business groups with interests in
telecom, agro business, insurance and retail. Bharti has been a pioneering force in
the telecom sector with many firsts and innovations to its credit. Bharti Airtel
Limited, a group company, is one of Indias leading private sector providers of
telecommunications services with an aggregate of 60 million customers, spanning
mobile, fixed line, broadband and enterprise services. Bharti Airtel was ranked
amongst the best performing companies in the world in the Business Week IT 100
list 2007. Bharti Teletech is the countrys largest manufacturer and exporter of
telephone terminals. Bharti has a joint venture with Field Fresh Foods Pvt. Ltd for global distribution of fresh fruits and vegetables. Bharti also has a joint venture
- Bharti AXA Life Insurance Company Ltd. - with AXA, world leader in financial
protection and wealth management. Bharti has recently forayed into the retail
business under a company called Bharti Retail Pvt. Ltd. It also has a joint venture
Bharti Wal-Mart Private Limited with Wal-Mart, for wholesale cash-and-carry
and back-end supply chain management operations.
AXA Group
AXA Group is a worldwide leader in Financial Protection. AXA's operations
are diverse geographically, with major operations in Western Europe, North
America and the Asia/Pacific area. AXA had Euro 1,315 billion in assets under
management as of December 31, 2006. For full year 2006, IFRS revenues
amounted to Euro 79 billion, IFRS underlying earnings amounted to Euro
4,010 million and IFRS adjusted earnings to Euro 5,140 million.
25
The AXA ordinary share is listed and trades under the symbol AXA on the
Paris Stock Exchange. The AXA American Depository Share is also listed on
the NYSE under the ticker symbol AXA.
Bharti AXA General Insurance is a joint venture between Bharti, one of Indias
leading
in Telecom, Agri Business and Retail; and AXA, world leader in Financial
Protection and Wealth Management. Bharti Group holds 74% of equity and AXA
holds 26% of the equity.
The company was incorporate 13th July 2007 and plans to commence national
operations in August 2008. Headquartered in Bangalore, the company currently has
offices in 7 cities- Bangalore, Mumbai, Delhi, Ahmadabad, and Hyderabad,
Ludhiana and Chennai- and plans to grow to a total strength of 29 branches by the
end of the first year of operations. With a vision to become the leader and preferred
company for financial protection in India, Bharti AXA General Insurance offers its
customers - individuals and businesses- a wide range of products and services that
meet their insurance needs.
The company will leverage the Bharti Groups large customer pool and develop a
strong multi channel distribution network in both urban and rural markets.
With a customer commitment to provide Fast, Fair & Friendly service in all
aspects of business, the company offers transparency, structured customer support
and trained manpower, backed by a robust IT platform. The companys claims
philosophy is to offer prompt and hassle free claims service that deals with the
claims process with empathy.
The Management team at Bharti AXA consists of experienced leaders who are
passionate about their companys vision and goals and are committed to the
development of Bharti AXA General Insurance as the preferred company for
Financial Protection in India.
26
27
Organization Structure
Works through many channels marketing, human resource, finance, information
technology,
Marketing wing is divided in to 1)
DIRECT SALES FORCE Have two tired salaried adviser force to target
quality banks.
4)
28
SM-G
SM-D
FO
FO-G
FO-D
FA
FE
FE-G
FE-D
29
Agency Structure
Agency Head
RSM
ARSM
BSM
MOA
Advisor
30
Organization
Compensation
Recruitment
Development
HR
Benefit
HR
Staffing
Dypt.
Head
HR
RHR WEST
RHR NORTH
RHR SOUTH
BDHR (10-12)
BDHR (10-12)
BDHR (10-12)
HR
Executive
HR
Executive
RHR EAST
BDHR (10-12)
HR
Executive
RHR Regional HR
BDHR Branch Development HR
31
HR
Executive
RESEARCH
METHODOLOGY
32
TYPES OF DATA
DATA COLLECTION
After the research methodology, research problem in HR has been identified and
selected; the next step is to gather the requisite data. There are two types of data
collection method primary data and secondary data.
Primary data collection method for observing working of company and
approaching various persons of the HR Department and asking them
questions and notes written down while observing and assisting HR persons
in their work.
Secondary data collection method was used by referring to company
records, files, and journals, broachers various websites, books, magazines,
journals and daily newspapers for collecting information regarding project
under study.
33
35
Recruitment Process
HIRING NEW POSITIONS (BUDGETING)
For all planed positions Resource Request Form (RRF) will be raised by the hiring
manager and set to HR.
36
Selection process
Bharti-Axa Life Insurance Company has different functions. So it required
different eligibility criteria for selection of the candidate.
Bharti-Axa takes care of interview as well as takes care of the payroll of selected
candidates as it believes in permanent recruitment only.
The Assessment (Evaluation sheet) is used at Bharti-Axa to assess the candidates,
who came for the interview.
The interview done with respect to
Qualification
Communication skills
Experience
Recruitment Trackers
The tracker is a tool to find out the status of line-up done by the consultant,
personal sourcing by Human Resource Department, Employee reference and walkin with respect to names of candidates lined up.
It is sent to HR (RO) of the company after every 15 days.
Advantages
1. It gives firm database for the user.
2. It allows user to check how many candidates are lined-up.
3. It also helps the user to keep tracks of the line-up(means how many
candidates come from BFSI and Non-BFSI sector)
Recruitment and Selection process at Bharti-Axa Life Insurance.
Once the candidates lined up .Human Resource Department looks
the following process
37
number
c. CTC
Fresher
a. CV
b. 2 reference
39
Joining kits
As soon as the offer letter is being release the final process of
joining formalities is joining kits.
1. Letter of appointment
2. Associate manual
3. PF
4. IT
Form
declaration
5. 6 passport
size photograph
6. 10th,
7. Address
8. Birth
9. PAN
proof
proof
card/Driving licence
10. Birth
11. Blood
Basic norms:
Qualification minimum graduation
For fresher hiring 60% and above in all exams starting from the class 10th for any
change / modification in percentage requirement special approval would be
required from HR.
40
Reference check - External reference (minimum 2) is carried out for each selected
candidate. Reference check is done with prior consent of the candidate and needs
to be done with someone who the candidate has to be done with is at level of
manager and above is not a relative.
Incase selected candidate is from the insurance industry one internal reference
check has to be conducted and appropriately documented.
41
Acceptance Of Resume
Walk-in
HR Consultancy
Reference
DSF
2nd Round
3 Round
rd
*(SM) Sales
Interview
Area Manager
Agency
BancaAssurance
HR Screening
HR Screening
*(BSM) Sales
Interview
*(ARM) Sales
Interview
*(ARSM)
42
EVALUATION FORM :
The form which is to be filled by interviewers, which contains the remarks
given by them to the candidates on various criteria such as previous
experience, confidence level, communication skill, personality, etc.
Job experience of only banking, financial services, insurance, retail, FMCG,
pharmacy, telecom, direct selling, is counted.
This form is to be filled by line manager (interviewer), and he has to sign that
form with date.
Then interviewer judges the candidate with overall rating
Excellent
Very good
Good
Average
Bellow average
43
After the interview short listed candidates are asked to submit following
documents:
1) A copy of resume
2) Salary proof
(For the candidates who were working previously.)
3) Offer letter of the previous company.
(For the candidates who were working previously.)
4) Reference numbers.
For the fresher
Project guide
College professors
For the experience holder Previous employer
Reporting manager
Colleague
(No reference number of relative and friends is allowed.)
Pre-joining Process
First step:
44
Second step:
Candidate has to sign and accept the offer letter and copy of his offer letter has submitted to HR,
and one copy he can retain with him.
On the date of joining candidates are required to submit remaining documents.
1)
2)
3)
After submission of all these documents, Head Office will generate candidates Employee Code.
When candidate gets the employee code, he becomes the employee of the company. Then after
that he gets company ID card, and company e-mail id.
Training
Training for sales persons, FE, FO, MOA (Financial executive, financial officers, agency
manager.) is compulsory.
Each newly joined such candidate has to undergo training program.
Company has team of trainers, and such trainer gives training to such new employee for 7 days.
45
Company knowledge
Norms and etiquettes of the company.
Product knowledge.
Campus recruitment process:
Area manager and HR manager visits institute for recruitment, during campus placement.
There is no sales interview during campus, just HR and Area manager conducts interview
at once and selects the candidates.
Generally there are three rounds for the candidates to crack the selection procedure, but here
there is just one interview.
Company generally prefer the campus recruitment because :
1) Company can cut down the commission of placement consultancy.
2) Company can put their own bargaining for salary and can select next alternative candidate on
that spot only without time and monetary expenses.
Internal reference
a) Portals
b) Advertisement
46
c)
d)
e)
f)
Consultancy
Headhunting
Internal reference
Campus
47
Interpretation:
1] 10% people saying conversion ratio at BAL is Below 50.
2] 30% people saying conversion ratio at BALis in Between 50 and 100.
3] 40% people saying conversion ratio at BAL is Above 100.
3). Does your organization plan the Recruitment Policy?
48
Interpretation:
4) After selection of candidates what is the TAT (Turn around time) for
offer release?
49
a) Same day
b) Between 2 and 3 days.
c) Above 3 days.
Interpretation
50
51
Interpretation :1] 10% people saying while screening a profile, Age is our major consideration.
2] 50% people saying while screening a profile, Qualification is our major
consideration.
3] 25% people saying while screening a profile, Work Experience is our major
consideration.
52
4] 15% people saying while screening a profile, Work Experience is our major
consideration.
Interpretation :1] 10% people saying the percentage of candidates who clear the
aptitude test is Between 10% and 50% .
2] 70% people saying the percentage of candidates who clear the
aptitude test is Between 50% and 90%.
53
54
Interpretation :
1] 20 people saying the Decline Ratio is Below 10%.
55
Interpretation :1] 10% people saying the reason for candidate who dont join is Counter Offer.
2] 30% people saying the reason for candidate who dont join is Retention by Current Employer.
3] 20% people saying the reason for candidate who dont join is they dont want to relocate.
56
4] 40% people saying the reason for candidate who dont join is No reason communicated.
Interpretation :1] 40% people saying our Recruitment Policy is helpful in achieving our
Goals.
2] 35% people saying our Recruitment Policy is helpful in achieving our
Goals.
3] 25% people saying our recruitment policy is helpful to some extent in
achieving our Goals
57
Research Analysis
Bharti AXA recruited maximum candidates from the placement consultancies; proportion
of walk In and employee referral candidates is very small.
Experienced candidates (from the same field) were given preference, rather than fresher,
but the post for which the candidate is to be recruited was also making difference.
Interview procedure is bit lengthy, instead of having three different rounds by three different
persons it can be a single panel interview three such persons. Hence we can save time and can
make working bit faster.
58
LIMITATIONS:
59
Conclusion
The objective of the project of studying the Recruitment & Selection Process has been
achieved during the course of time. It was found that the recruitment and selection process of
Bharti AXA is efficient and effective in recruitment of the Financial Executive, Financial Officer,
and Agency Manager etc.
The entire process is crucial and of vital importance for the recruitment of candidates.
It was also found that placement agencies are the preferred source of recruitment in Bharti AXA.
Annexure
1)
2)
3)
4)
5)
Offer Checklist
Offer Checklist
Name of the Employee :
Designation
61
MIS Tracker
Document Made by
Location
DOJ
E Code
Document Checked by
:
:
:
62
Nature of acquaintance:
What
are
the
key
Currently with:
professional
accomplishments
of
the
applicant,
according
to
your
How would you rate his/her professional and personal competencies for the position applied for?
What do you think are the areas of improvement for the applicant?
Any other information, which you would like to share, that will help us in taking a
decision to employ the applicant
In your view, what do you think was the reason of his/her leaving the job?
63
Low
Med
High
Low
Med
High
Date:
NAME
__________________________
Date_________________
ECODE __________________________
DOJ _________________
64
Name _____________________________
Phone No.:_________________
Current Organization_________________
I understand that:
If I am the first to refer this person and he/she is hired, I will receive this employee referral
bonus;
For all entry level sales positions at Executive and Senior Executive
level (FE, FO, MOA, SM etc) across all sales channels, a one-time payout is made
through payroll after the new joinee completes 6 months with Bharti-AXA Life
For all other positions, a one-time payout is made through payroll after
the new joinee completes 3 months with Bharti-AXA Life
The bonus will be paid through payroll and will attract applicable taxes.
I hereby agree that the Employee Referral Policy and Guidelines would be applicable for
bonus payouts.
Encl: Resume
65
Signature_______________________________
66
Offer Letter
67
Bibliography
Reference to a book:
R.S. Dwivedi, Managing human resources Personnel management, 2nd edition.
K. Ashwathapa, Human resource and personal management.
Reference to Websites:
- www.bharti-axalife.com
- www.avivaindia.com
- www.google.co.in
- www.irda.org.in
Other
Bharti AXA manuals.
68
Thank
You
69