CONTENTS

1. INTRODUCTION 2. INTRODUCTION TO HRM 3. PROFILE OF BAJAJ ALLIANZ 4. PROFILE OF THE ORGANISATION 5. SURVEY ANALYSIS AND INTERPRETATION 6. SUMMARY OF FINDINGS ANNEXURES QUESTIONNAIRE BIBLIOGRAPHY

CHAPTER 1 INTRODUCTION Introduction Relevance of study Objectives Material and Methodology Scope of study Limitation CHAPTER - 2 INTRODUCTION TO HRM General Introduction to the HRM Evolution of HRM Meaning and Definition Objectives Scope Importance CHAPTER-3 PROFILE OF BAJAJ ALLIANZ Introduction History of Bajaj Allianz insurance company limited Achievements of Bajaj Allianz life insurance company limited Objectives of Bajaj Allianz life insurance company limited CHAPTER-4 PROFILE OF THE ORGANISATION Introduction to the branch Span of Management Organization Structure of Personnel Department HRM in branch Benefits to Employees

CHAPTER 5 SURVEY ANALYSIS AND INTERPRETATION CHAPTER-6 SUMMARY OF FINDINGS General objectives of the survey Suggestion Conclusion ANNEXURES Questionnaire Bibliography Human Resource Management in Bajaj Allianz Life Insurance, with Special Reference to Shimoga Branch.

CHAPTER 1 INTRODUCTION Introduction Relevance of study Objectives Material and Methodology Scope of study Limitation

Introduction Indian industry is facing the challenges of global competition. In order to fee the emerging corporate. The corporate sector should look after the need of employees to that quality goods are produced of quality services are rendered. It is widely believed that only quality people produce quality goods or service. Here fore the corporate organisation should develop good quality human resource4s who are committed to organizational growth. Here the physical and mental needs of the employed are to be fulfilled. This change, presently noticed in the Bajaj Allianz life insurance company Limited. This concession about taking care of the employees needs with socio, economic development was studied under following chapter.

This

project

report

is

an

human

resource

management in Bajaj Allianz Life Insurance company Limited. This report consults of at together six chapters. Relevance of Study: The study was under taken to know the

recruitment, selection, training, promotion and transfer of the permanent in the Bajaj Allianz Life Insurance Limited. Human resources is a one of the most important sources in the word the Bajaj Allianz is connected with use of those manpower for its

exponential growth, Human Resources and Bajaj Allianz life insurance go hand in hand. The project show the loopholes and problem of power in proper utilization of the same the study give the solution for the smooth running of services with efficient are of man power resource on the Bajaj Allianz. Particular the study is a who mode to know the human relation in the Bajaj Allianz life insurance Company.

Objectives of Study The prevent study aims at the following objectives. 1. To know about the effective utilization of man power in Bajaj Allianz Life Insurance Companies. 2. To know the exponential growth of human resources in connection with the wealth creation. 3. To see how the employees are recruited, selected and trained. 4. To study the criteria followed in giving promotion and circumstances under incentive schemes are given 5. To see the wage and salary administration of the self employees and workers. 6. To study the motivation all schedules and schemes adopted and implemented for the welfare of

employees of work. 7. To study the human resources development and area of human resources development in Bajaj Allianz Life Insurance Company Limited.

8. To study the relationship b/w management and employees. 9. To study the role of higher rank employee in development executive ranks.

Materials and Methodology: To achieve the above objectives, data is collected from the primary data and secondary source; the

secondary data were obtained from the monthly magazine, spy bulletin, Internets. How the copy act your way to wealth, most of the secondary data collected from books published by different authors. The higher rank manage view points about the some excellent and wonderful creative idea regarding human resources necessary. are included whenever available and

COLLECTION OF DATA: Primary data: Primary data is one, which is original in nature and pure in character. It is fresh data obtained by the organization directly, primary data is collected by personal interview of with manage. Senior manager and branch incharge and questionnaire with employee of

the company and data is collected from the monthly weekly meetings need at branch office some

conference also helps in getting information for the preparation of the effective project report. Secondary data: Secondary data are those duties which are not original in nature there duties are published someone are published duties. Beside primary data, data is conducted from secondary source like company

circulars, books, files, newspapers magazines and HRD news net and al project reports.

Scope: The project report collected the necessary

information and data the branch office shimoga and head office Bangalore. The study is mainly concentrate on the human resources development ; the report also viewed the proper utilization of man power.

Limitations: The study had certain limitation, they are, 1. The study is based on the datas given by the Bajaj Allianz Life Insurance company. 2. Only indepth study about personnels recruitment, selection and promotion, which bring fruitful results. 3. Non availability of some data also effected the quality of project report. 4. The time and Money containers have also affected quality of the project

10

CHAPTER - 2

INTRODUCTION TO HRM
GENERAL INTRODUCTION TO THE HRM EVOLUTION OF HRM MEANING AND DEFINITION OBJECTIVES SCOPE IMPORTANCE

11

INTRODUCTION TO HRM General Introduction Taking a Look at the world of human beings is a rewarding experience. Contracts abound in this world. Beauty is juxtaposed with ugliness, mercy with cruelty, compassion with indifference, health with disease, happiness with misery, industriousness with laziness, and affluence with poverty. There contracts remain so, despite the passage of time, sweeping political & economic changes, and cultural differences. Contrasts not withstanding, one thing is certain- it is the people who make an organization a success or allow it to be handed over to the Board for Industrial & Financial Reconstruction (BIFR). Who are these so called patrons? How to attract them? How to retain them? How to motivate them? These and other such questions need an in-depth study. The present book makes an attempt to study these questions.

12

Evolution of HRM As a part of introduction to the subject, it is useful to study the evolution of HRM. HRM, a relatively new term, emerged during the 1970s. Many people

continue to refer to the discipline by its older, more traditional titles, such as personnel management or personnel administration. The trend is changing. The term nowadays used in industry circles is HRM. Coming to the evolution of HRM as a subject, it may be stated that concern for the welfare of workers in the management of business enterprises has been in existence since ages. Kautilyas Arthashastra states that there existed a sound base for systematic management of resources during as early as the 4th century BC. The government then took an active interest in the operation of public & private sector enterprises and provided systematic procedures for regulating employer-employee relationships.

13

Elsewhere,

human

resources

in

organizations

received the managements attention much earlier. As early as in 1800 BC itself, minimum wage rate and incentive wage plan were included in the Babylonian Code of Hammurabi. Experts of HRM in our country have tried to chronicle the growth of the subject only since the 1920s. This was the period when state intervention to protect the interests of workers was felt necessary because of the difficult conditions which followed the First World War, and the emergence of trade unions. The Royal Commissions (1931) recommended the appointment of Labour-welfare officers to deal with the selection of workers and to settle their grievances. The Factories Act, 1948, made appointment of welfare officers compulsory in industrial establishments

employing 500 crores more workers each. In course of time, two professional bodies, the Indian Institute of Personnel Management (IIPM) and

14

the National Institute of Labour Management (NILM), were set up. IIPM had its headquarters at Calcutta and NILM at Mumbai. These two places were the premier centers of traditional industry (jute and cotton

respectively) in pre- independent India. The aftermath of the Second World War and the countrys political independence witnessed increased awareness and expectations of workers. During the 1960s, the personnel function began to expand beyond the welfare aspect, with labour welfare, IR and

personnel administration integrating into the emerging profession called personnel management (PM).

Simultaneously, the massive thrust given to the heavy industry in the context of planned economic

development, particularly since the Second Five-Year Plan and the accelerated growth of the public sector in the national economy resulted in a shift in focus towards professionalization of management.

15

By the 1970s, a shift in professional values was discernible. It shifted from a concern for welfare to a focus on efficiency. In the 1980s professionals began to talk about new technologies, HRM challenges and HRD. The two professional bodies, IIPM and NILM, merged in 1980 to form the National Institute of Personnel Management (NIPM). In the 1990s the emphasis shifted to human values and productivity through people. Reflecting this trend, the American Society for Personnel

Administration (ASPA) was renamed as the Society for Human Resources Management (SHRM). Thus,

beginning in the 1920s the subject of HRM has grown into a matured profession. The below table shows the evolution of HRM

16

Evolution of H.R.M. In India.

Period 1920s1930s 1940s1960s 1970s1980s Development Status Beginning Struggling for recognition Achieving sophistication Outlook Pragmatism of capitalists Technical, legalistic Professional, Legalistic, Impersonal Emphasis Statutory welfare, paternalism Introduction of technical Regulatory, conforming, imposition of standards on other functions Human values, productivity through people Status Clerical Administrativ e Managerial

1990s

Promising

Philosophical

Executive

(Source: C.S. Venkataratnam and B.K Srivastava, Personnel Management and Human Resources page 5)

17

MEANING AND DEFINITIONS OF HRM Meaning: Human Resource Management is concerned with managing people at work. It covers all levels in the organizations. It applies to workers, supervisors,

officers, managers and other types of personnel.

HRM is concerned with employees as individuals as well as groups. It is the task of dealing with human relationship within an organization. It is the process of achieving the best fit between individuals, jobs,

organizations and the environment. It is the process of bringing people and organizations together so that the goals of each are met. Definitions: According to National Institute of Personnel

Management of India, HRM is that part of management concerned with people at work and with their

relationship within the organization. It seeks to bring

18

together men and women who make up an enterprise, enabling each to make his own best contribution to its success both as an individual and as a member of a working group.

In the words of Flippo- personnel management or human resource management and is the planning, of the

organizing,

directing

controlling

procurement, development, compensation, integration, maintenance and reproduction of human resource to the end that individual, organizational and societal

objectives are accomplished.

Scott and others have defined as follows: Human Resource management is that branch of management which is responsible on a staff basis for concentrating on those aspects of relationship of management to employees and employees to

employees and with the development of the individual

19

and the group. The objective is to attain maximum individual development, desirable working relationship between employers and employees and employees, and effective moulding of human resources as

contrasted with physical resources.

OBJECTIVES OF HRM Every organization has some objectives and every part of it should contribute directly or indirectly to the attainment of desired objectives. Objectives determine the character of an organization and serve as the basis for voluntary co-operation and co-ordination among employees. In this light the objectives of human resource management may be summarized as follows. (i) To help the organization attain its goals by providing employees. well trained and well motivated

20

(ii)

To employ the skills and knowledge of employees efficiently and effectively, i.e. to utilize human resource effectively.

(iii) To enhance job satisfaction and self-actualization of employees by encouraging and assisting every employee to realize his/her full potential. (iv) To establish and maintain productive, self

respecting

and

internally

satisfying

working

relationships among all the members of the organization. (v) To bring about maximum individual development of members of the organization by providing opportunities for training and advancement. (vi) To ensure the integration of all the individuals and group with the organization goals with by reconciling of an

individual

/group

those

organization. (vii) To develop and maintain a quality of Work Life (QWL) which makes employment in the

21

organization situation. (viii) To maintain

desirable

personal

and

social

high

morale

and

good

human

relations within the organization. (ix) To help maintain ethical policies and behavior inside and outside the organization. (x) To manage change to the mutual advantage of individuals, groups, the organization and the society. (xi) To recognize and satisfy individual needs and group goals by offering appropriate monetary and non-monetary incentives.

SCOPE OF HRM The expanded scope of personnel in management decades. has Now

considerably

recent

techniques and styles of managing human resources, research in behavioral science, establishment of

22

training institutions, etc, have contributed to the expansion of personnel function.

The Indian Institution of Personnel Management has described the scope of human resource

management in to the following aspects: 1. The Labour or Personnel aspect: It is concerned with man power planning,

recruitment, selection, placement, induction, transfer, promotion, demotion, termination, training and

development, lay off and retrenchment, wage and salary administration (remuneration), incentives,

productivity, etc. 2. The Welfare Aspect: This aspect of concerned with working conditions and amenities such as canteens, crches, rest rooms, lunch rooms, housing, transport, education, medical help, health and safety, washing facilities, recreation and cultural facilities, etc.

23

3. The Industrial Relations Aspect: This is concerned with the companys relations with the employees. It includes union-management relations, joint consultation, negotiating, collective

bargaining, grievance handling, disciplinary actions, settlement of industrial disputes, etc.

24

IMPORTANCE OF HUMAN RESOURCE MANAGEMENT The significance of human resource management can be discussed at four levels corporate, professional, social and national. 1. Significance for an Enterprise: Human Resource Management can help an

enterprise in achieving its goals more efficiently in the attracting and retaining the required talent through effective human resource planning, recruitment,

selection, placement, orientation, compensation and promotion policies. 2. Professional significance: Effective management of human resources helps to improve the quality of work life. It permits team work among employees by providing a healthy working environment. 3. Social Significance:

25

Sound human resource management has a great significance for the society. It helps to enhance the

dignity of labour in providing suitable employment that provides social and psychological satisfaction to people. 4. National Significance: Countries are underdeveloped because their

people are backward. The level of development in a country depends primarily on the skills, attitudes and values of its human resources. Effective management of human resources helps to speed up the process of economic growth which in turn leads to higher

standards of living and fuller employment

26

CHAPTER-3 PROFILE OF BAJAJ ALLIANZ Introduction History of Bajaj Allianz insurance company limited Achievements of Bajaj Allianz life insurance company limited Objectives of Bajaj Allianz life insurance company limited

27

PROFILE OF BAJAJ ALLIANZ

INTRODUCTION: Bajaj Allianz Life Insurance Company is a 74:26 joint venture between Bajaj Auto Limited and Allianz AG, Germany (formerly Allianz Bajaj Life Insurance Company Limited). It is the fastest growing private life insurance company in India. Allianz AG is a leading insurance conglomerate globally and the largest asset manager in the world, managing assets worth over 996 billion Euros (Rs. 53, 64,456 crores). At Bajaj Allianz, customer delight is their guild line principle. It is ensuring world class solutions by offering people customized products with transparent benefits

supported by the best technology is their business philosophy.

28

HISTORY OF BAJAJ ALLIANZ INSURANCE COMPANY LIMITED:

Henry Little would hardly recognize the insurance company he started in 1896 as North American Casualty, Henrys dream grew to become Allianz Life Insurance Company of North America (Allianz Life) after being acquired by Allianz AG of Munich, Germany in 1979, and become a company of Allianz AG. Allianz Later Allianz AG is merged with Bajaj Auto Limited of India, which is the flagship company of the Rs. 8000 crore & which is the largest manufacturer of twowheeler and three wheelers in India and one of the largest in the world .Allianz AG is now one of the worlds largest integrated financial services organization with operations in 70 countries around the globe. ACHIEVEMENTS OF BAJAJ ALLIANZ LIFE

INSURANCE COMPANY LIMITED: Bajaj Allianz Insurance Company has the second position in the Indian private Insurance Sector having
29

steered the Rs. 480 crores. Bajaj Allianz Life (premium income Rs. 220 crore) has jumped three paces to occupy the fourth slot in the 13 strong life insurance industry. Today the company is in the midst of pursuing its twin corporate dream goals- to close this fiscal with a premium income of Rs. 750 crore and occupy the number three slot displacing the incumbent Birla Sun Life Insurance Company Limited. Given the daily collections- over Rs. 1 crore-and its month-on-month growth, the second may come true sooner. According Development to the Insurance (IRDA) Regulatory the and new

Authority

figures,

premium difference between Bajaj Allianz Life and Birla Sun Life at the end of August 2004 was Rs. 37.5 Crore. Looking at the sales mix, Bajaj Allianz Life is logging impressive sales in the individual single

premium segment. For the period April-August 2004, the company earned Rs. 50.35 crore selling 5,657 single premiums averaging around Rs 89,004 per

30

policy. The individual non-single premium policies accounted for Rs. 92.59 crore. Last year the company had to transfer Rs. 40 crores from the shareholders account to policy holders account to declare bonus to its with profit policy holders.

OBJECTIVES OF BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED:

Bajaj Allianz, one of the fastest growing insurance company in Private Sector with over 300 percent growth in the last two years, has targeted to increase its volume of business to Rs. 7000 crores by next year from Rs. 1680 crores no in fact by the end of the current financial year (March 2006), it plans to increase its business to Rs. 3000 crores, including Rs. 2500 crores as the premium income, said Mr. Sam Ghosh, Country Manager Allianz and CEO Bajaj Allianz. During the next one year (2006-07) it is planed to double the number of officers and branches from the

31

present around 500 to at least 1000 with 20 percent of them coming up in rural India. It is planned to make a deeper dent in India rural market not only with its increased presence, but also by hiking its share of business there (rural market) from around 15 to 18% how to over 22% by December next year. The following are the Important objectives of Bajaj Allianz Ltd: 1. To develop the necessary skills and right attitudes among the employees through training, development performance appraises. 2. To secure willing cooperation of employees through motivation grievance handling etc., 3. To provide maximum opportunities for personal developments. 4. To provide insurance cover and financial security to every insurable person. 5. To build cordial relationship among employees. 6. To improve the quality of training.

32

7. To facilitate the basic necessitates of canteen, restroom etc., 8. To meet the needs of expansion and diversification programmes 9. To improve the performance of managers at all levels in their present job. FUNCTIONS : The following are the important functions of Bajaj Allianz life insurance Co. Ltd, 1. Obtaining detailed information of the clients business and risk management philosophy. 2. Rendering advice and appropriate insurance could and terms. 3. Maintaining detailed knowledge of insurance markets as may be applicable
4. Submitting

quotation received from insurers for

consideration of a clients

33

5. Providing

requisites

underwriting

information

as

required by

an insurer in assessing the risk condition for loses.

to decide price in terms and

6. Providing services related to insurance consultancy and risk management.

7. Assisting in the negotiation of the clients. 8. Maintaing proper records of clients. 9. Given instructions from clients and providing him written acknowledgement and progress report.

34

CHAPTER-4 PROFILE OF THE ORGANISATION INTRODUCTION TO THE BRANCH SPAN OF MANAGEMENT ORGANISATON STRUCTURE OF PERSONNEL DEPARTMENT HRM IN BRANCH

BENEFITS TO EMPLOYEES

35

INTRODUCTION TO THE SHIMOGA SATELLITE BRANCH Shimoga city is one of the important centers of insurance industry. The branch was opened on 1.4.2004 and started its functioning at M.G. Palace, 1st floor Nehru Road, under the branch management of Mr. Shantilal and since then it has been running business successfully. The branch started its operation with only 48 members including a branch manager. Then there were no proper ventilation systems and separate cabins. All the works were going very simple. With in a half year, it got progress by spreading its popularity to all local cities and within the Shimoga city also. Now, within a span of two years it has become one of the leading life insurance companies in Shimoga city. The central office of Bajaj Allianz Life Insurance Company Limited is at Pune and the South Central

36

Office is at Bangalore which is having control of 12 branches all over Karnataka including its main branch of Bangalore. The Shimoga branch is technically known as Shimoga Satellite Branch under the Bajaj Allianz Co. Law. The Satellite branch is under the control of Hub branch which is situated at Mangalore. With in two or three months Shimoga Satellite Branch is going to become Hub branch. Then it will have the control over all satellite branches which would be opened at taluk levels. With its day to day expansion the needs of proper working conditions were also increased. To overcome this problem, it has opened a separate office at 1st floor of M.G. Palace itself exclusively for staff for handling customer grievances.

37

SPAN OF MANAGEMENT
MANAGING DIRETOR BRANCH MANAGER

WORKERS SALES TEAM MANAGER

INSURANCE SERVICE CONSULTANT

ORGANISATION OF HR DEPARTMENT Two issues become relevant in a discussion on organization of a HR department. They are (i) place of

38

the HR department in the overall set-up, and (ii) composition of the HR department itself. Status of the HR department in the total organizational structure depends on whether a unit is small or large. In most of the small organizations, there is no separate department to co-ordinate the activities relating to personnel. In fact, there may not be any personnel manager at all. Services of outsiders who specialize in maintaining accounts and records relating to provident fund, pension and other statutory requirements are retained for a fee. The following figure shows the structure of this type. Owner /manager

Production Manager

Sales Accountant Manager

Office Manager Assistant

Personnel

HRM in a small scale unit

A large scale unit will have a Manager/ Director heading the HR department. His or her status will be equal to that of any executive. The bellowed figure
39

shows this structure. This arrangement holds well when the company has a single unit. Where the company has multiple plants located in different parts of the country, there may be a centralized HR/ personnel department at the main or registered office and early plant will have separate HR/personnel departments. Routine activities relating to each plant are handled by the HR/personnel department attached to the work, where as the broad policies, matters concerning executives, and the like are handled by the central department. This is the case with conglomerates as BHEL. ITL and L & T

40

Chairman and Managing Director

Production R&D Director Director

Finance Director

Personnel/HRM Director

Marketing Director

HRM in a large scale unit. Coming to the composition of the HR department, it may be stated that it depends on the scale of operations towards and attitude of the top a management typical HR

its

personnel.

However,

department is headed by a Director, under who are Manager-Personnel, Manager-Administration, ManagerHRD and Manager- Industrial Relations. The department will grow in size and importance when new demands are placed on it by the top management.

41

ORGANISATIONAL STRUCTURE CHIEF EXECUTIVE PERSONNEL MANAGER

Employment Training Salary Welfare Officer Officer Officer Clerks Clerks Clerks

Wage and Officer

Clerks

Under this organizations structure authority flows from top to the bottom of the organization. Every superior has direct command over his immediate subordinate. Every employee is accountable to one superior i.e. three is unity of command. The authority relationships are clear and there is strict discipline. But there is lack of specialization and flexibility.

42

MANAGEMENT STRUCTURE BRACH MANAGER ADMINISTRATIVE OFFICERS Assistant Branch Manger Administrative officer Development Officer Assistant Assistant

Higher Grade

Assistant Sub Staff

Typist

Record

Clerks

43

HRM MODEL
NATURE OF HRM HUMAN RESOURCE PLANNING JOB ANALYSIS RECRUITMENT SELECTION PLACEMENT TRAINING AND DEVELOPMENT REMUERATION MOTIVATION PARTICIPATIVE MANAGEMENT COMMUNICATION SAFETY AND HEALTH WELFARE PROMOTIONS, etc INDUSTRIAL RELATIONS TRADE UNIONSM DISPUTESAND THEIR SETTLEMENT FUTURE OF HRM

E N V IR O N M E N T

COMPE TENT AND WILLIN G WORKFORCE

Organizational Goals

As seen from the figure, the model contains all HR activities. When these activities are discharged

effectively, they will result in a competent and willing workforce who will help realize organizational goals. There is another variable in the model-environment. It may be stated that the HR function does not operate in

44

vacuum. It is influenced by several external and internal forces like economic, technological, political, legal, organizational and professional conditions HRM IN THE SHIMOGA SATELLITE BRANCH

RECRUITMENT:
Recruitment is a process to discover the sources of manpower to meet the requirements of the staffing schedule and to employ effective measure for

attracting that manpower in adequate numbers to facilitate effective selection of an efficient working force. The process recruitment in the branch is dividend into two. 1. Internal sources and 2. External sources.

Internal sources are most obvious sources. These include personnel already on the pay role of an organization i.e. its present working force whenever any vacancy occurs somebody from within the

organization is upgraded, promoted.

45

External sources include advertisement, casual callers, recruitment agencies, etc. employment exchanges,

SELECTION:
Selection is the process of evaluating the capacity of the potential employees in the light of job

satisfaction. The selection process is intended to measure the individuals capacity against the job requirements. The object is to ascertain clearly, the type of person required and to secure an appropriate candidate for filling that position. The used steps involved in selection process are as below. 1. Preliminary interview 2. Blank application 3. Tests 4. Interview 5. Medical examination
46

6. Final selection.

TRAINING:
After an employee has been selected placed and inducted, it becomes necessary to arrange for his training. While education improves the knowledge & understanding of employees in a general way, training aims at increasing the skills & abilities of workers to perform specific jobs. Training is the art of doing the job in a correct effective and efficient manner. Under the Bajaj Allianz training is given only by personnel staff & specialists. During the period of training the trainee will be paid remuneration at the minimum of scale applicable to their post.

PROMOTION AND TRANSFERS:

Promotion refers to advancement of an employee to a higher post carrying greater responsibilities, higher

47

status and better salary. It is the upward movement of an employee in the organizations hierarchy.

Under the Bajaj Allianz promotions can be made only on the basis of seniority or merit or a combination of both.

WAGES AND SALARY ADMINISTRTION:

Employee compensation is a vital part of human resource management. Wages, salaries and other forms of employee compensation constitute a very large component of operating costs. One of the biggest factors affecting industrial relations is the salary or wage- the compensation on employee receives for a fair days work. Objectives of wage & salary administration under Bajaj Allianz Shimoga Satellite Branch are as follows.

1. To establish a fair & equitable remuneration. 2. To attract competent personnel.

48

3. To retain the present employees. 4. To improve productivity. 5. To control costs. 6. To establish job sequences & lines of promotion. 7. To improve union management relations. 8. To improve public image of the company.

BENEFITS TO EMPLOYEES They provide insurance cover and financial security to every insurable person. They provide transportation charges to its sales executives so as to increase sales. They provide educational facilities to all the children of their employees. They also help in providing medical help either to his family or on his own health. Recreation, health and safety facilities are also providing.

49

 Special accident

benefits relief,

like health

provident & group

fund,

gratuity, also

insurance

providing. They provides perquisites like company car, club membership, paid holidays, furnished house and stock option schemes to his employees.

They help in providing good method of training to increase technological changes in the work. They handling the grievances & make the settlement of disputes between employees. They will act as trustees of their employees funds & invest the funds to their best advantage. They build & maintain cordial relationship between employees.

50

BENEFITS TO ITS CLUB MEMBERS FOR 2009-10

CLUB SILVER REQUIRED PREMIUM 5 lacs of first year premium* with OR 50 lives with an average premium size of Rs. 7000 per GOLD policy 10 lacs of first year premium* with OR 100 lives with size an average of Rs. Benefits worthy 3,00,000 Invitation to international convention along lives with size an average of Rs. Benefits worth 1,50,000 Invitation to International with a companion premium PLATINUM minimum of 50 lives Benefits worth 15,000 Zonal level Convention minimum of 25 lives BENEFITS Benefits worth 6000 CONVENTION Branch head Convention

7000/policy 50 Lacs of first year premium* with OR 300 premium minimum of 50 lives

MDRT

7000/policy 22 lacs of first year premium*

51

COT

66 lacs of first year premium*

Benefits worth 4,00,000

convention Invitation to International convention along with companion Invitation to International convention along with 3 companion

TOT

132lacs of first year premium*

Benefits worth 8,00,000

52

NOTE: 1) All the regular premiums will be having a crore of 100% & all single premiums will be having a crore of 10%. 2) All regular premiums will be having a crore of 100% & single premiums will be having a crore of 6%. 3). Conditions applying: The minimum persistency levels expected for all company clubs is 80%,

53

CHAPTER 5 SURVEY ANALYSIS AND INTERPRETATION

54

Analysis of collected data After getting the information from all sources analysis is made. It involves examination and

verification of collected data & information. Analysis implies critical examinations and evaluation and

policies, programs and procedure in the area of human resource management. The primary aim of analysis of collected data is to determine whether the personnel policies and practices are consistent with organizational objectives. However, the analysis is explained under the following tables, graphs and diagrams.

55

1) Table showing employees age group: Age Group No of Employee 18 25 25 30 30 40 40 - above Total 7 12 6 5 30 In percentage 23.34 40.00 20.00 16.66 100.00

Graph showing employees age group

12 12 10 8 6 4 2 0 7 6 5

18 25

25 30

30 40

40 - above

56

2. Table showing the educational qualification of employees. Educational Qualifications Up to PUC Graduate Post graduate MBA holder Total No. of employee In percentage 3 10 10 7 30 10 33.34 33.34 23.33 100.00

Result the regarding educational of the of the employees shown in the above tabulation analysis can be made 10% of the employee have passed PUC and 33.34% of the employee have passed graduate, 33.34% of passed post graduate and 22.33% of employee passed MBA.

57

Graph showing the educational qualification of employees

10 10 9 8 7 6 5 4 3 2 1 0 Qualifications Up to PUC Graduate 3

10

Post graduate

MBA holder

58

3. Table showing employees working under different levels: Level of working Administrativ e Assistance Development offices Business executive Manager Total No. of employee 6 14 7 3 30 In percentag e 20 46.67 23.33 10 100 Employees 72 108 83 36 360

From the above table shows employee working under different level of area as follows 72% of administration and 108% of Development officers and 36% bank employees manager of the employee in Bajaj Allianz Life insurance company.

59

Graph showing employees working under different levels

Manager 10% Business executive 23%

Administrative 20% Assistance 0%

Development offices 47%

60

4. Table showing employees earning different amount of salaries. Salaries No. of Employ ees Below 10000 1000015000 1500020000 2000025000 Above 25000 Total 4 13 4 9 30 13.34 43.33 13.33 30.00 100.00 48.02 156.00 47.98 108.00 360.00 In % In degree

Graph showing employees earning different amount of salaries

Above 25000 0% Below 10000 13%

20000-25000 30%

15000-20000 13% 61

10000-15000 44%

5. Table

showing

number

of

employees
of %

recruited

through different sources.

Source Recruitment of No. employees

Recruiting Agencies Employment exchange Casual callers Recommendations Press Advertisement Total

10 7 3 2 8 30

33.34 23.34 10.00 6.66 26.66 100.00

Graph showing the employees recruited through different sources

10 10 9 8 7 6 5 4 3 2 1 0 Recruiting Agencies Employment exchange Casual callers Recommendations Press Advertisement 3 2 7 8

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6. Table showing employees transferred , promoted , demoted. Particulars No. es Transferred Promoted Denoted Not Changed Total 10 9 11 30 33.34 30.00 36.06 100.00 120.02 108.00 130.00 360.00 of In In degree percentage

Employe

From the above table showing the employees transfer of 33.34% and 30% of employees promoted, 36.06% of the employees not changes.

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Graph showing employees transferred , promoted , demoted.

Not Changed 37%

Transferred 33%

Denoted 0%

Promoted 30%

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7.1 Table showing number of employees having life insurance policy under Bajaj Allianz.

Particular Having insurance policy Not having Total

No. employees 21

of

In % 70

In degrees 252.00

9 30

30 100.00

108.00 360.00

From the above table showing numbers of employees having life insurance policy under Bajaj Allianz life insurance company Ltd.,

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Graph showing number of employees having life insurance policy under Bajaj Allianz

25 20 15 10 5 0

21

Having insurance policy

Not having

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8. Table showing employees having different policies under Bajaj Allianz. Type of plan Unit plan Pure plan Term with premium Whole Life plan Total 30 100.00 gain term plan No. of employees In 6 7 8 percentage 28.57 33.34 38.09

From the above table showing employees having different policies under Bajaj Allianz are as follows. 28.57% of unit gain plan, 33.34% of pure term plan and 38.09% of perm plan with premium policy.

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Graph showing employees having different policies under Bajaj Allianz.

8 8 7 6 5 4 3 2 1 0 Unit gain plan Pure term plan Term plan with premium Whole Life plan 0 6 7

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9.

Relationship

between

employee

&

employer

satisfaction Particular No. of Percentag e 70 30 100.00

employees Satisfaction 21 Not satisfactory 9 Total 30

From the above table showing employees having satisfaction level under Bajaj Allianz are as follows. 7o% of employees are satisfy and remaining 30% are not satisfied.

Not satisfactory 30%

Satisfaction 70%

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10. Training given through Particular Conference Audio visuals Management Total No. employees 15 8 7 30 of Percentag e 50 35 15 100.00

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ANALYSIS AND INTERPRETATION: From the all tables, graphs and diagrams it is clear to understand from the statistical studies. It states how the personnel activities are to be carried out. It helps to reveal how well the personnel policies are

implemented. Analysis and Interpretation of graph, tables, includes the calculation personnel of ratios and Such

percentages

from

statistics.

measurement will reveal useful trends in manpower utilization. In the first table 1.1 one can know how many employees have how much of educational knowledge. In this graph, there is lack of M.B.A holders but the number of graduate employees is abundant. Coming to next graph (2.1.) which shows the office is good at personnel placement. Here, all the personnel are placed at first level of job. In the table correlation (no.3) employees at different levels are placed with different educational

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qualification. It reveals how many, graduates, post graduates & MBA holders are working as administrative assistant, development officer, business executive and as manger. Table no. 4 shows number of employees earning different amount of salaries. Except 4 managers no one is getting more than Rs. 25000 salary per monthly. Correlation Table No.5 shows the employees earning different amount of salaries with different level of work. Under this graph only 4 managers earning more than Rs. 25000 and 3 M.B.A holders earning more Rs. 20000. Rests of all are earning less than mangers level of amount. In the graph (6.2) employees recruited through various sources. Only a few were recruited through recommendation and maximum numbers of employees were recruited through Recruiting agencies. Under the branch 25 employees were transferred, 17 were promoted and no one demoted and 166

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employees were remained with no change, which is shown under graph7.2. Table no. 8 shows the number of employees having life insurance policy under Bajaj Allianz. Under this graph number of employees not having policy is higher than those whose are having. And the graph no.9.2 shows employees having different policies under Bajaj Allianz. Under this graph highest number of employees interested to have policy under term plan with return of premium. Thus, it is clear to determine the efficiency of Shimoga Satellite branch in personnel department is not so poor and not yet too good, before the challenging world of competition.

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CHAPTER-6 SUMMARY OF FINDINGS GENERAL OBJECTIVES OF THE SURVEY SUGGESTION CONCLUSION

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SUMMARY OF FINDINGS The depth and complete study of the employees attitudes and their behaviour towards the Bajaj Allianz life insurance company , gives the full and detailed information about Bajaj insurance company. For the purpose of conducting the survey, I have prepared questionnaire and the same copy has submitted to employees to take their opinion. I have adopted the test method survey to collect information I have surveyed nearly 30 employees to take opinion. The survey has been conducted of different topics they are: Education, Annual Income and different Age Groups etc., OBJECTIVES OF THE SURVEY: To know the general opinion of the employees with regards to Bajaj Allianz life insurance company. To know whether the survey rendered by the firms improving in recent year. 1. To know the good relationship with employers and employees. 2. To know the effective of the scurvies provided by the customers.

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3. To know cooperation of employees through motivation, grievance handling etc.,

SUGGESTONS When there are a lot of demerits at the branch, some suggestions are collected to reimburse the drawbacks, they are as follows. 1. Adequate trainings like management games should be given to employees. 2. Separate channel should be made for managing the personnel. 3. Proper steps should be taken for the appraisal of the employees. 4. If all the branches are computerized the employees would not be affected. 5. Transfer of employees should be made frequently so as to increase their efficiency and their working knowledge.

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6. The facilities such as rest room, crches may be established for employees during working hours. 7. Education scholarship of employees children may be provided. 8. Company records must maintain regularly to

reducing the confusions while making balance sheet. 9. Organization must know that reducing organizational stress is as important as motivating employee. 10. Promotion policy should be in writing and should be communicative. 11. Wage policy & program should be reviewed and revised periodically in conformity with changing needs. 12. Required information about working conditions, promotion, and demotion must be given when needed.

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CONCLUSION From the whole survey, it is clear that the services given by Bajaj Allianz Shimoga Satellite Branch are better when compared to other insurance companies. Here, human resources are well utilized and well benefited. The facilities like transportation, education, health, and group insurance except crches and rest room, are given under the branch which motivates the employees to work hard. The allowances and

perquisites given under the branch are more beneficial for the employees. Though it has all benefits, it yet has to improve its personnel for well doing the job. If it utilizes the manpower in right way and give personnel appraisal, it will get more reputation in later years.

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ANNEXURES
o QUESTIONNAIRE o BIBLIOGRAPHY

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QUESTIONAIRE Dear Sir/Madam, I am a student of MBA, IV semester, studying at Directorate of Distance Education, Kuvempu University, Jnana Sahyadri, Shankaraghatta. I have undertaken a project Report of Human Resource Management in Bajaj Allianz Life Insurance, with special

reference to Shimoga Branch, M.G. Palace, Gopi circle, Shimoga. Kindly fill up my questionnaire and give valuable suggestions for the study. The data that is given by you will be used only for academic purpose.

Faithfully Nagaraj Padiyar 1. Name : 2. Address _________________________________ 3. Sex: Male ( ) Female ( )

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4. Age a) 18-20 c) 30-40 b) 25-30 d) 40 and above

5. Educational qualification a) Up to PUC ( ) b) Graduate d) M.B.A holder ( ) ( )

c) Post Graduate ( ) 6. Level of working

a) Administrative Assistant ( ) b) Development Officer c) Business Executive d) Manager 7. Monthly Salary Below 10,000 Below 20,000 Above 25,000 8. Recruited through Recruiting Agencies Employment Exchange( ) Casual callers Recommendations Press Advertisement ( ) ( ) ( ) ( ) ( ) ( ) ( ) Below 15,000 Bellow 25,000 ( ) ( ) ( ) ( ) ( )

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9. Have you been? Transferred Promoted Demoted ( ) ( ) ( )

10. Benefits receiving Provident Fund (P.F) Club Membership Paid Holidays Furnished House 11. Relationship satisfaction Satisfaction Not satisfactory 12. Training given through Lectures Conference Audio visuals ( ) ( ) ( ) ( ) ( ) ( ) between employee & employer Stock option schemes ( ) ( ) ( ) ( )

Management games( )

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13. Training given Good Poor Too Good 14. Are you ( ) ( ) policyholder of Bajaj Allianz Life ( )

Insurance? Yes ( ) No ( )

15. If yes, which type of plan you have Unit Gain Plan Pure Term Plan ( ) ( )

Term Plan with Return of Premium ( ) Whole Life plan ( )

16. What are the plus points you see at your Office ___________________________________ 17. Suggestion to improve the qualities of your office ____________________________________ Thanking you for your kind co-operation Date: Signature Place:
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BIBLIOGRAPHY
BOOKS Human Resource Management Human Resource & Personnel Management Principles of Insurance Law Author Publishers

Dr. C.B. Gupta Sultan Chand & K. Aswathappa M.N.Mishra Sons Tata MC Graw Hill Publishing Co. Ltd. Himalaya Publishing House, Bombay

JOURNALS: Catalogues & advertisement copies of Bajaj Allianz Life Insurance. www.bajaj.co.in www.bajajallianzlife.co.in www.bajajallianz.co.in

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INDEX

ASPA Administration BIFR Reconstruction Co. FY HRD IIPM IRDA Authority Ltd. NILM NIPM Administration PF PM

American Society for Personnel

Board for Industrial& Financial

Company Financial Year Human Resource Department Indian Institute of Labor Management Insurance Regulatory& Development

Limited National Institute of Labor Management National Institute for Personnel

Provident Fund Personnel Management

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QWL SHRM management

Quality of Work Control Society for Human Resources

86