Once The Manpower Needs Are Determined, The Process of Recruitment Starts
Once The Manpower Needs Are Determined, The Process of Recruitment Starts
Once The Manpower Needs Are Determined, The Process of Recruitment Starts
INTRODUCTION
1. Introduction
Once the manpower needs are determined, the process of recruitment starts.
Recruitment is the process of identifying the sources of prospective candidates and attracting
them to apply for jobs in the organisation. It is a positive process because it increases the area
suitable employees for different jobs in the enterprise. While recruiting people, management
should not simply try to fill the immediate job vacancy. Rather it should seek the long-term
objective of finding a person who will be both productive and will stay in the job.
Sources of Recruitment
The various source of recruitment may be grouped into two broad categories.
1. Internal sources
2. External sources
Internal Sources:
Internal sources consist of the employees currently working in the organisation. There are two
main sources of internal recruitment promotions and transfers. Most of the companies follow the
practice of filling higher jobs by promoting people working at lower levels. Such a practice helps to
improve the motivating and morale of employees. It encourages employees to put in greater effort, to
acquire additional qualification. It also improves good will and about relations. Transfer involves the
shifting of an employee from one job to another without any major change in the status and
responsibilities of the employee. On the other hand promotion implies shifting an employee to a higher
position carrying higher status responsibilities and pay.
Internal recruitment simplifies the selection and placement problems. It is economical as there is
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no need for orientation. It also reduces excessive recruiting and placement costs. Selection from
among existing personnel tends to be more accurate as their performance is known. But in a growing
enterprise all positions sources may lead to inbreeding as the new talent is not allowed to enter the
organisation. There is little choice and internal candidates may lack originality and fresh outlook.
Every new enterprise has to recruit people from outside. Running concerns have also to tap external
sources for filling the positions whose specifications cannot be met by the present employees.
External Sources:
1. Advertisements: Advertisements in newspapers and journals is the most commonly used
method of searching potential candidates. When an organisation wants to fill job vacancies it issues an
advertisement giving details of the job to be filled and the qualifications required for it.
Advertisement is s powerful technique for attracting good candidates. It provides the management a
wider choice in selection. Detailed information can be given in advertisement to allow self-screening
by the prospective candidates.
2. Recruiting Agencies: Many consulting firms perform recruitment and selection services for
different companies. These private agencies are specialised concerns and serve as intermediary
between the enterprise and the applications. After receiving requisition from a client company, the
agency advertises the vacancy and receives applications. It may pass on the applications to the client
company or may screen and select the candidates for the client company. The recruiting company gets
the benefits of expertise. Such agencies are well staffed with experts and maintain high stands of
ethical practices.
3. Employment exchanges: Public employment exchanges are located throughout the country.
They register the names of job seekers along with their bio data. They pass the names of suitable
candidates to employers who intimate their vacancies. Some employment exchanges provide
placement and counselling services. They can help in designing testing programmes. Employment
exchanges are a good source for recruiting unskilled and semi-skilled personnel.
4. Labour contractors: Contractors and jobbers are a source of recruiting blue collar employees
in many industries. These people provide the required candidates at short notice and for a small fee.
They have close links with villages and towns from where most unskilled workers come. However,
there is a danger that the workers recruited through the contractor may leave if the contractor leaves the
concern.
5. Gate-hiring:
A factory may make direct recruitment by putting a notice on the notice board of its premises.
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People read the notice and assemble on the specified date and time. Recruitment at factory gate may be
used in case of unskilled bao9ut and to fill scapula vacancies.
STATEMENT OF PROBLEMS:
The success of any organization depends on the quality of the people it employs. It is ironical
that selection decisions are often given less attention in many organizations. Making a wrong decision
has a major effect upon the work group and the goals of the organization. It is a global fact that poor
selection decisions have resulted in waste of considerable time, effort and conflicts. The impact of poor
selection process has adverse effects on the employee, the team that he is part of and the Organization
as a whole.
Hence, the researcher attempt to examine the efficiency of the recruitment practice followed
within ING VYSYA Life Insurance Ltd.
OBJECTIVE OF THE STUDY
2. To study the existing selection process of insurance advisors in ING VYSYA life insurance
ltd.,
4. To develop the systematic frame work for selection process of insurance adviser to ING
VYSYA life insurance company.
1
Cable and Turban,2001, www.human resources journals.com.
3
Garman, (2005)2.in his article reveals that Interviews are used widely for selection purposes at senior or
executive level. Research shows that to increase their reliability, validity and feasibility, interviews
should be based on a thorough job analysis and selection criteria, they should be semi-structured and
scored according to a behaviorally anchored rating scale. Multiple interviews are often favored over
panel interviews, the modality of the interview should be standardized across all candidates, and
assessors should be trained .
McGregor et al (2005) 3suggest improving the communication and information flow between NES and
NHS boards in order that consultant posts can be designed and their advertisement timed to match the
output of training schemes. They also recommend the electronic canvassing of trainees' views to take
into account their career intentions and a mentoring system that facilitates the transition from trainee to
consultant (McGregor, Wakeling, French, & Bagnall, 2005).
framework to make recruitment and selection decisions. Although there is an existing framework, the
objective is to identify the problems within the framework and suggest effective recruitment practices
that synchronises with the organizational objectives and enable hiring quality resources. It is important
to make the selection process as objective as possible and a systematic framework is therefore essential
to ensure that decisions are soundly based, consistent and defensible. The intent of this project is to
provide such a framework taking into account of the Policies and Practices followed within the
organization.
The present study throws light on the recruitment, training, and recruitment process. The study also examines
opinion of the employees, internal recruitment process and external recruitment It is also deals with various
protective measures to be taken to safeguard the interest of employees . It also makes an attempt to shed light
and to bring out the opinion of employees about the recruitment methods etc.
2
Garman, 2005, www. Recruitment journals.com .
3
McGregor et al , www. Human resources journals.com
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CHAPTERIZATION PROCEDURE
The first chapter gives a vivid account of the statement of problem, objectives and significance of
The sixth chapter titled “Summary of Findings, Suggestions and Conclusion”, consolidates the
results of the analysis and valuable suggestions have been made for the promotion of recruitment process.
CHAPTER II
PROFILE OF COMPANY
Insurance in India is still viewed by most as an Investment tool. The initiative of the players has
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been to shift the focus and get consumer to view it as a social security tool giving financial protection
against the various uncertainties of life. The falling interest rates on financial savings may further push
the individual towards Insurance.
Today by introducing unit linked insurance plans by various companies the need for insurance
products for the consumer use has become two folds- as an Investment tool and as a Protection tool.
The need for Insurance Products as an investment tool is felt as a savings pattern is changing from
traditional land and gold to financial savings. And the need for Insurance as a protection tool is being
felt with increasing health consciousness and as a consequence an increased awareness of frailty of life.
The characteristic features of this plan is that it yields secured and good returns, protection to life, acts
as savings the customer could operate their account whenever they need money. This very well suits to
the needs of all people which totally varies from all the other traditional products.
Insurance an advisor
As an advisor the person will work with individuals, families and business to understand their
protection and investment needs, and identify solutions that best fit their requirements. . The IRDA also
conducts an examination which every insurance advisor must pass.
To help make your task easier, you will be able to access our vast support system of over 100 branches
at 75 locations. All they have to do is to get advisor certification by training at a recognized institute
Joining ING VYSYA life insurance as an advisor will empower you with the ability to:
Overview
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ING VYSYA is the world’s fifth-largest insurance group and the biggest in the UK. It is one of the
leading providers of life and pensions products in Europe and has substantial businesses elsewhere
around the world. Its main activities are long-term savings, fund management and general insurance. It
has premium income and investment sales of £36 billion and £332 billion of assets under management.
The group has 58,000 employees serving 35 million customers worldwide.
Background
ING VYSYA became the new name for the former in July 2002. The change represented part of the
group’s planned journey towards being recognized as a world-class financial services provider. The
ING VYSYA brand brought together more than 40 different trading names around the world and
created further opportunities for the group to harness the benefits of its size and international
capabilities. Group chief executive Richard Harvey said: “We are creating a new and powerful
international financial services brand. The benefits of this change are significant. We are also making
more effective use of our marketing spend, particularly in advertising and sponsorship . The ING
VYSYA name tested positively in consumer research around the world, bringing with it associations of
life, vitality and living well. This matches the aspirations we have for our customers.”
The ING VYSYA brand today:
Today the ING VYSYA brand is alive and trading in more than 20 countries with ING VYSYA now the
world’s fifth-largest insurance. The ING VYSYA brand is about life and vitality – helping 30 million
customers worldwide to make the most of their lives. For over 300 years ING VYSYA have been
recognized as a progressive company – one that creates better ways to understand and meet people’s
needs. It is this insight – this ability to think beyond the immediate and the everyday – that makes them
who they are.
Other group brands:
Most of the group’s businesses have been rebranded ING VYSYA. However, the group’s strongest
existing mass-market brands remain, including:
Norwich Union in the UK
RAC in the UK
Delta Lloyd in the Netherlands
Hibernian in Ireland
Commercial Union in Poland
Such operations have benefited from their association with the group by carrying the endorsement “an
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ING VYSYA company” where appropriate. A number of specialist business names have also been kept,
including:
Morley Fund Management
Navigator in Australia
Pilot in Canada
Eurofil in France
Standards of business conduct
ING VYSYA is committed to ensuring that their business is conducted in all respects according to
rigorous ethical, professional and legal standards.
Customers
ING VYSYA seek to provide their customers with a service hallmarked by integrity, quality and care.
Human rights
ING VYSYA respects the Universal Declaration of Human Rights and seek to be guided by its
provisions in the conduct of their business.
Workforce
ING VYSYA is guided by the aim to be the employer of choice in all countries in which they operate.
Health and safety
ING VYSYA is committed to providing a working environment, which is both safe and fit for the
intended purpose and ensures that health and safety issues are a priority for all business operations.
Suppliers
ING VYSYA regard suppliers as their partners and work with them to help achieve their policy
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impacts on the societies in which they operate. ING VYSYA endeavour to manage these
in a responsible manner, believing that sound and demonstrable performance in relation
to corporate social responsibility policies and practices is a fundamental part of business
success. ING VYSYA are committed to continuous improvement in the corporate social
responsibility programme and encourage their business partners to strive for matching
performance. ING VYSYA’s businesses throughout the world are committed to the
achievement of their policy objectives.
General Insurance
Rigorous cost control, disciplined underwriting and excellent customer service are at the
core of ING VYSYA general insurance business. They aim to deliver high-quality
earnings from market-leading positions in personal insurance and selected commercial
lines. ING VYSYA sustained profitability gives them a solid platform to provide high-
quality service, strengthen relationships with their customers and broadens their range of
propositions. ING VYSYA’s range of distribution channels and balanced portfolio of products and
services enable them to react flexibly to changing market conditions and to meet customer needs. By
investing for the future, they ensure that they can deliver innovative solutions to their customers and
sustain their excellent performance.
INDUSTRY PROFILE:
LIFE INSURANCE:
Life insurance has been treated as a cushion for savings and has always been given secondary
importance as far as individual savings are concerned.
In India, Traditionally life insurance business has been seen more as a savings and tax-reduction
instrument rather than as a major risk protection tool.
It has faced some several problems like misuse of funds, corruption, etc.
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Life insurance has been nationalized in 1956. Only one company Life insurance corporation of
India has been started by government.
IRDA:
It has control to give the license to the private players.
IRDA is careful in granting licenses and has setup strict standards for all aspects of insurance
in India.
PRIVATE PLAYERS:
URBAN AREAS:
Urban system is a complex system where external events that are not always seen in the closed
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system model are evidenced, and the impact of the internal changes can be seen in the urban areas.
According to the 2001 census, more than 10% of the country’s population lives in 35 major
cities.
The Indian life insurance market displays many essential characteristics of an emerging vibrant and
dynamic market
• The insurance sector remains a very competitive market and those companies that are able to
best utilize their data and provide their customer with the most personalized options will have
the distinct competitive advantage.
• The insurers that come up to the top will be those who leverage the appropriate technology
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solutions effectively in order to foster customer loyalty, attract new customers and improve
efficiency by providing common information across their lines of business.
• The following are the key winds of change brought about by privatization
– Market expansion
– New product offerings
– Customer services
– Channels of distribution
OPPURTUNITIES
India has a long history of market economy infrastructure and a sophisticated financial sector.
As a result of various policy initiatives, several multinational financial companies have made
significant investments in the Indian financial sector. The government is committed to continue the
reform process over the next decade with particular emphasis towards institutionalization of the debt
market and reinforcement of investor protection. The country offers significant opportunities for
investment in the financial sector.
The government is encouraging private sector participation in the insurance industry. The
opening up of this industry offers tremendous opportunities for insurers, insurance intermediaries and
other organizations connected with the industry
A broad investor base and an organized primary and secondary market provide opportunities for
financial intermediaries and service providers
A large and rapidly growing consumer market of over 250 million people provide opportunities
in retail banking and finance
Increasing globalization combined with domestic deregulation will create a demand for
sophisticated financial products as well as innovative financing techniques.
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CRITICISMS OF THE INSURANCE INDUSTRY
I . Lack of knowledge of policy holders
Insurance policies can be complex and a lot of policy holders, especially poorer ones do not
understand all the fees included in a policy. As a result people may buy policies at unfavorable terms.
In response to the issues, government often make detailed regulations which set down minimum
standards for policies and govern how they may be advertised and sold
Besides paying out a sum of money on death, many life insurance contracts also pay out a sum
of money after given time and may also pay out the cash value if the policy is cancelled early. In many
countries such as the US and the UK, tax law provides that the interest on this cash value is not taxable
This leads to widespread use of life insurance as a tax efficient method of saving as well as
protection in the event of early death. Wealthy individuals buy life insurance policies as a means for
avoiding income taxes and estate taxes.
If the tax benefit exceeds the feeds charged by the insurance company for maintaining the
policy, then the policy serves as a life insurance tax shelter. There is much controversy surroundings
this practice and the financial security is deeply divided about whether or not these practices work as
advertised.
There is a proof that liberalization of the insurance sector has been a success. Insurance
penetration — the percentage of premium income to GDP — has moved up from 2.32% in ’00-01 to
3.26% in ’02-03. The improvement has been largely on account of the growth in life insurance business
where premium income grew from 1.77% of GDP to 2.59%. Although non-life premium has also
grown from 0.55% to 0.67% of the economy, it is much lower than the growth in life insurance.
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What these numbers mean is that the insurance industry’s growth has been more rapid
than the growth in the economy. While the improvement in insurance penetration is significant, it is
still nowhere near the world average of 8.14%. According to Swiss Re’s latest Sigma report on world
insurance markets, life insurance business in emerging markets grew on an average by 12.7%. “China,
Taiwan and India, in particular, along with the major life insurance markets in Latin America — Brazil
and Argentina — contributed to most of this growth,” the report said. The report says that demand for
life insurance soared at the expense of low rate bank deposits with China and India reporting staggering
growth of 62.2% and 14.1%, respectively. “In these markets rising incomes, social security reforms and
further opening up of the market spurred the growth of life insurance.”
But the world average has been pushed up due to developed countries such as Japan
(10.86%) and the US (9.58%), where higher disposable income leads to higher purchase of insurance.
In developing countries, the relevance of insurance to the economy is typically lower because for a
large section of the population there is hardly any disposable income with expenditure concentrated in
fulfilling basic needs. The trend is that insurance penetration rises sharply as the overall economy
improves.
While the Chinese insurance market at $36.8bn is more than twice that of India’s $15.4bn, in
terms of insurance penetration, India scores on China where state welfare schemes have resulted in
lower life insurance penetration.
At a more comparable level, in Asia, India has bettered Thailand, which had a ratio of
2.53% in ’00 which rose to 3.24%. Although penetration of life insurance in India has always been
higher, Thailand has scored better due to higher non-life premium driven by auto insurance. In world
rankings, India stands at No 43 (in terms of insurance penetration) up from 52 in ’00. The countries that
India has displaced in the list include a host of East European countries such as Croatia, Poland,
Hungary and Russia.
In terms of insurance penetration, South Africa continues to be the world leader with
insurance accounting for 18.78% of the country’s GDP. This is because a combination of tax structures
has resulted in insurance being the main channel for investments. Globally, the relevance of insurance
to world economy has increased with world premium to world GDP ratio rising to 8.14% from 7.84%
two years ago.
In absolute terms, India stands 19 (23 in ’00-01) in the premium income rankings world-
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wide with an annual premium income of $15,472m ($9,933m in ’00-01). The bid daddy continues to
be the US where insurance premium has, for the first time, crossed the 1 trillion mark to $1,000.3bn
accounting for 38% of world premium up from 35.41% three years ago. By comparison, India’s share
is almost microscopic at 0.59%, up marginally from 0.49% last year.
People are taught to save for a rainy day. Saving is nothing but locking away your money in
safety, where it only earns very low fixed income. However, it can be withdrawn with ease and it is
risk-free.
Investment, on the other hand, is complex and more difficult. People invest in stocks and bonds
with the hope of doubling their investment and making fortunes. However, investing is risk-prone and
if you do not follow a wise investment strategy, you could land in a terrible loss. But nothing
beats inflation like investing right. Here is a simple guide to making wise investment decisions.
Start investing early. This will give more time for your money to grow. Join the
bandwagon right away. It is never too late.
Realize your goals and chalk out a strategy to achieve them. This is common sense. Keep
away enough cash buffer for emergencies. Draw up an expense and income comparison table.
This will let you know when you may need to pull out money like in case of a wedding or education
expense.
Assess your risk appetite. You must decide how much you can afford to lose. Invest for long-
term. Let not the daily fluctuations in the market shake you. If you will need the money
soon then stocks is not the place for you to park it. Look for other low-risk investment avenues.
You cannot outsmart the market. There are only a handful of professionals who can do
it. So never attempt it.
Your age matters. If you are young, you can take more risks and invest in high-risk equity or
sector funds. If you are going to retire or have already retired, bear in mind that you can always
need money urgently. So park it in a less risky avenue.
Rupee cost averaging is the benefit that you would derive if you invest regularly
in instruments like Systematic Investment Plans. Despite the ups and downs in the market, you pay
only the average cost for the units procured over a long term.
Review your investments periodically. What may be a good investment when you are
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earning may be an unwise one once you have retired. Analyze your mistakes. Figure out why you
made a bad bargain.
Diversification is a strategy that cushions you in case some stocks or funds do not perform
well. When you do not put all eggs in one basket then a stock performing really well could compensate
for the poor performance of another one.
Familiarize yourself with the happenings in the market and keep yourself up-to-date with
market news. This will help you prevent making wrong investment decisions. Know when to exit. Do
not hesitate to exit an investment faring badly over a long term.
PROBLEM DEFINITION
ING VYSYA has been in the path of rapid growth and expansion in the recent past. Growth has in turn
resulted in up scaling of the recruitment activity. ING VYSYA has been following a set recruitment
The rapid expansion has triggered off a rampage to meet recruitment targets, which has resulted in a
chaotic situation. The quality of the candidates hired in the recent past has been a major concern with
the operations.
Though the roles and responsibility of the recruitment executives and the recruitment process has been
clearly defined, the problem continues. As a first step the roles and the responsibilities of the
recruitment team and the process flow of the recruitment process were understood in details. Enclosed
are the roles and responsibilities of the recruitment team and the flow of the recruitment process
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CHAPTER III
The Recruitment team in ING VYSYA is responsible for all the recruitment activities in ING VYSYA.
Any new requirement arising in ING VYSYA is passed on to the resourcing team who will intern
source people. Following are the major roles and responsibilities of the resourcing team in ING
VYSYA.
Liaising with the advertising agency regarding copy and setting of the advertisement
Uploading vacancy information onto the company’s Website and various job portals
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Inviting short-listed candidates for interview
18
↓
As a second phase, an assessment was made on the effectiveness of the current recruitment
process. Open House Forum was the tool used for the purpose of assessment of the process. Separate
sessions were conducted with the operations team to identify the effectiveness of the existing system.
Hiring managers were called upon for an Open House sessions and were made to openly discuss on the
shortcoming of the current system. The following were the revelations of the same.
Turnaround time for sourcing – The turnaround time for closing a position has been very high
Wrong screening of profiles – People with irrelevant experience were shortlisted for interviews
Role clarity – The candidates were not clear in terms of the role when they make it to the
operations interview because of which the candidates backed out at the second round of
interview
Performance Issues – shortcomings in the selection process led to wrong hires. Candidates were
Candidates waiting time – Candidates were made to wait for long hours thereby creating a
Integrity Issues – some candidates were found to have faked their experience, educational
qualification etc
In the third phase, the pointers from the open house session were discussed with the recruitment team
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to identify the root cause of the stated issues. The following were the responses for the above-
mentioned shortcomings.
Projections in terms of the projected targets on a month on month basis were not
available with the recruitment team because of which they were unable to cater
Job descriptions received from the operations were either ambiguous or inadequate
Desired level of competencies were not clearly defined to the recruitment team
4. Branding
Need for better branding strategy was agreed by the recruitment team
5. Role clarity
Recruitment team was not abreast on the roles and responsibility of the position by the
operations team
6. Performance Issues
Unavailability of senior people from the operations teams has resulted in the same
Recruitment team agreed to the fact that it was due to the team’s complacency
8. Integrity Issues
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The authenticity of the reference was subjective as candidates generally
an offer
From the above it is clear that the though the process existed there has not been a
streamlined approach to the same. The process was void of quantifiable tools to measure
the effectiveness of the decision’s made. This has been the perennial problem for most of
As per the section 4 of IRDA Act' 1999, Insurance Regulatory and Development
Authority (IRDA, which was constituted by an act of parliament) specify the
composition of Authority
The Authority is a ten member team consisting of
(a) a Chairman
(b) five whole-time members
(c) four part-time members
Section 14 of IRDA Act, 1999 lays down the duties, powers and functions of IRDA...
(1) Subject to the provisions of this Act and any other law for the time being in force, the Authority
shall have the duty to regulate, promote and ensure orderly growth of the insurance business and re-
insurance business.
(2) Without prejudice to the generality of the provisions contained in sub-section (1), the powers and
functions of the Authority shall include, -
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(a) Issue to the applicant a certificate of registration, renew, modify, withdraw, suspend or cancel
such registration.
(b) protection of the interests of the policy holders in matters concerning assigning of policy,
nomination by policy holders, insurable interest, settlement of insurance claim, surrender value of
policy and other terms and conditions of contracts of insurance.
(c) Specifying requisite qualifications, code of conduct and practical training for intermediary or
insurance intermediaries and agents.
(d) Specifying the code of conduct for surveyors and loss assessors.
(f) Promoting and regulating professional organizations connected with the insurance and re-
insurance business.
(g) Levying fees and other charges for carrying out the purposes of this Act.
CHAPTER IV
RESEARCH METHODOLOGY
INTRODUCTION:
According to the oxford advanced Learners Dictionary of current English the meaning of
research is a “Careful Study or investigation especially in order to discover new facts or information”.
Research is defined as movement from the known to the unknown. It is an effort to discover
something. According to Clifford Woody “Research comprise defining and redefining problems
formulating hypothesis or suggested solutions, collecting/ organizing and evaluating data making
deduction & research conclusions and at last carefully testing the conclusion to determine whether they
fit the formulation hypothesis.
RESEARCH DESIGN:
Research Design used for this study is Descriptive Research Design for studying the recruiting
and selection policy of the insurance advisors towards the challenges and issues.
DESCRIPTIVE RESEARCH DESIGN
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It serves a variety of research objectives such as
Descriptions of phenomena or characteristics associated with a subject
population (the who, what, when, and how of a topic).
Estimates of the proportions of a population that have these characteristics.
Discovery of associations among different variables.
SAMPLING DESIGN
Sampling Design of the study consists of two steps
a) Selection of the Study Area.
b) Selection of the Sample Size.
SELECTION OF THE STUDY AREA:
The selected area for conducting the study was Chennai. The company allotted the area to the
researcher.
SELECTION OF THE SAMPLE SIZE:
Since the population is large and unknown researcher followed Non- Probability Sampling
method. Non-probability samples that are unrestricted are called convenience samples. They are the
least reliable design but normally the cheapest and easiest to conduct. Researchers or field workers
have the freedom to choose whomever they find, thus the name convenience.
Thus Convenience Sampling was followed in the selection of the sample units.
The Sample Size selected for the Study was 100 respondents.
Formulation of the Questionnaire:
The required information like the attitude of people regarding recruitment and selection of
insurance advisors and their challenges and issues was collected through the usage of well-structured
questionnaire.
Closed Ended Questions:
In this type both questions and its respective answers are arranged in structured pattern.
Dichotomous Questions:
Dichotomous question is used mainly to collect demographic data where two answers logically
exist. This is used in this research questionnaire
Multiple Choice Questions:
Researcher uses multiple-choice question where the respondents are provided with answers that
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help them to choose an alternative. This is also used .
RANKING SCALE:
Researcher uses Ranking question where the respondents are provided with answers that help
them to prioritize the alternatives based on their views and rank the alternatives accordingly.
METHOD OF DATA COLLECTION:
The researcher used primary and Secondary data collection method.
PRIMARY DATA:
The researcher had collected the primary data with help of questionnaire method.
Pilot study is a requisite in any survey. It helps to remove unnecessary questions and questions
which are irrigative in nature to the respondents. Before going for the actual fieldwork, the rough draft
of the question was pre tested with 20 respondents, which resulted in necessary modifications and
improvements.
STATISTICAL DESIGN:
To draw the inferences from the collected data appropriate conventional and non-conventional
statistical techniques were used.
STATISTICAL TOOLS USED
For the purpose of analysis, certain statistical tools like percentage analysis method, chi-square,
ANOVA, Weighted average method are used. Chi-square test was used to minimize the error in the data
collected. Graphs are used to represent the data for the better and accurate interpretation of the data.
Weighted Average:
Weighted average means assigning weight standards for the relative importance of relative item. The
weight stands for the relative Importance for different items.
Weighted average method = ( X1W1+X2W2+X3W3+…….)
N
STEPS:
1. Multiply the weights with variable X and obtain the value ……..
2. Divide the total by the sum of weight ……
Chi-square analysis
Chi-square test is non-parametric test used most frequently by marketing research to test hypothesis.
The main aim is to determine whether significant difference exists among the groups of data or whether
difference due to sampling when a small number of degree of freedom is involved is greater skewed.
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As the degree of freedom increases, distribution curve became most significant and resembles the
nominal curve.
It is applicable in large number of problems. It can be used to make comparisons between theoretical
populations and actual data when categories are used. The test disinfect, a technique to the use of which
it is possible of all the researchers to
Test the goodness of fit
Test the significance of association between two attributes
Test the homogeneity or the significance of population variance.
Formula:
Where,
Oi Observed frequency of the cell in ith row and jth column
Ei Expected frequency of the cell in ith row and jth column.
Conditions for applying the test:
Total frequency should be sufficient i.e.>50
Constraints must be linear.
Simple observation should include twice or more in the sample.
An increasing use of non parametric test in economic and business is on account of three reasons.
1. Non-parametric test are distribution free.
2. They can computationally easier to handle and understand than parametric tests.
3. They can use with the types of measurement that prohibit the use of parametric test.
As a test of goodness of fit: this test enables to see how well does the assumed theoretical distribution
(such as binomial, Poisson or normal distribution) fit to observed data.
As a test of independence; this test enables us to explain whether or not two attributes are associated. It
is used to measure the degree of relationship or form of relationship between two attributes.
ANOVA
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Another test of significance is analysis of variance test (ANOVA). The primary purpose of ANOVA is
to test for the differences between multiple means. It can be calculated by comparison of two tools of
data with difference in sample. It can be calculated as
Identify the independent and dependent variables.
Describe the variation by breaking it into three parts- the total variation,
The portion that is within groups and the portion that is between groups (or
among groups for more than two groups).
Measure the difference between each group’s mean and the grand mean.
Perform a significance test on the differences & interpret the results. The above
steps can be interpreted as follows
Source of variation
SSC - Sum of squares of columns
SSR - Sum of squares of rows
RE - Residual error
By taking degree of freedom and taking into consideration the above variation, the variance is
calculated and then F-ratio is got from the mentioned variants. ANOVA at last is accepted by
comparing the calculated and tabulated value.
ANOVA is accepted when the calculated value is less than the tabulated value and rejected vice
versa. ANOVA is efficient for analyzing data using relatively few observations and can be used with
categorical variables.
LIMITATIONS OF STUDY
I. One of the major limitations was the time factor. Since the time was very limited it is very
difficult to study large samples.
II. The Study is not universal, it is limited only to Chennai. Hence the Conclusion would not be
a generalized one.
III. The different views & Opinions provided by the Respondents are subjected to Personal bias.
26
In spite of these above limitations the study could provide valuable information, which might be taken
in to consideration both professionally and academically.
Chapter-V
The researcher analysis is basically in order to extract meaning full information from data collected
and aimed at giving inferences of association of difference between the various variables present in the
research. Interpretation refers to the task of drawing inference from the collected facts after an
analytical and experimental study. interpretation is concerned with the relationship within the collected
data. Partially over lapping analysis interpretation also extends beyond the data for study that includes
the result of other research theory and hypothesis.
TABEL 1
INFERENCE:
We can see in the above table the male respondents are 69.% and female respondents
Are 31%
27
CHART 1
80
70
60
50
40 Male
Female
30
20
10
0
No. of respondent
TABLE 2
RESPONDENTS AGE
28
INTERPRETATION
From the above table it is clear that the respondents age differs and ranges as under 20 is 04 % , 21 to
24 is 79 % , 25 to 29 14 % , 30 to 34 is 02 % and35 to 39 is 01 %.
CHART 2
RESPONDENTS AGE
100
79
80
60
40
20 14
4 2 1
0
under 20 21 to 24 25 to 29 30 to 34 35 to 39
TABEL 3
EDUCATIONAL QUALIFICATION:
S .NO OPTIONS NO OF RESPONDENTS PERCENTAGE (%)
01 ARTS 24 24
02 MANAGEMENT 25 25
03 ENGINEERING 06 06
04 SCIENCE 48 48
TOTAL 100 100
Source:
Primary data
From the above table it is clear that 24 % are from arts, 25 % are from management, 06 % are from
29
engineering and 48 % are from science specializations.
CHART 3
EDUCATIONAL QUALIFICATION:
100
80
60
48
Series1
40
25
21
20
0
Arts Management Engineering Science
TABEL 4
IS AGE CRITERIA IS REQUIRED TO RECRUIT THE ADVISOR?
30
Source: Primary data
We can see in the above table the accepted respondents are 64.% and not accepted respondents
Are 36%
CHART 4
IS AGE CRITERIA IS REQUIRED TO RECRUIT THE ADVISOR?
NO OF RESPONDENTS
YES
NO
TABLE 5
31
03 GOOD 40 40
04 FAIR 01 01
05 POOR 00 00
TOTAL 100 100
Source: Primary data
From the above table it is clear that the No: respondents who have said that the importance
given to recruitment program in the organization - excellent is 8 % , very good is 49 % , good is 40 % ,
fair is 01 %.
CHART 05
THE ADEQUATE IMPORTANCE GIVEN TO RECRUITMENT PROGRAMME IN THE
ORGANISATION
100
80
60
49
40
40
20
9
1 0
0
Excellent Very Good Good Fair Poor
TABLE 06
S .NO OPTIONS NOOF RESPONDENTS PRECENTAGE (%)
01 EXCELLENT 13 09
02 VERY GOOD 39 49
03 GOOD 45 40
04 FAIR 03 01
32
05 POOR 00 00
TOTAL 100 100
EXPLANATION OF NORMS AND VALUES OF THE COMPANY DURING
RECRUITMENT
CHART 06
EXPLANATION OF NORMS AND VALUES OF THE COMPANY DURING
RECRUITMENT
100
80
60
45
39
40
20 13
3
0
0
Excellent Very Good Good Fair Poor
TABLE 07
PERIODICAL EVALUATION AND IMPROVEMENT OF RECRUITMENT
PROGRAMME
S .NO OPTIONS NO OF RESPONDENTS PRECENTAGE (%)
01 EXCELLENT 13 13
02 VERY GOOD 34 34
03 GOOD 46 46
33
04 FAIR 07 07
05 POOR 00 00
TOTAL 100 100
Source Primary data
From the above table it is clear that the periodic evaluation and improvement of
recruitment and selection programme given by the respondent - excellent is 13 % , very
good is 34 % , good is 46 % , fair is 07 % .
CHART 07
PERIODICAL EVALUATION AND IMPROVEMENT OF RECRUITMENT
PROGRAMME
TABLE 08
34
TOTAL 100 100
Source: Primary data
From the above table it is clear that the quality of in company programmes in the
organization rated by employees as excellent is 12 % , very good is 33 % , good is 47
% , fair is 08 %.
CHART 08
100
80
60
47
40
33
20
12
0 8
Excellent
Very Good 0
S1
Good
Fair
Poor
TABLE 09
DOES HIERACY PROCEDURE FOLLOWED STRICTLY IN RECRUITMENT PROCESS?
From the above table it is clear that out of respondents 85 % said is hierarchy procedure
is followed strictly and 15 % said that it is not strictly followed.
35
CHART 09
Does Hierarchy procedure followed strictly in recruitment process?
NO OF RESPONDENTS
YES
NO
TABLE 10
DOES RECRUITMENT PROCESS AFFECT THE SALES FORCE?
36
CHART 10
NO OF RESPONDENTS
YES
NO
TABLE 11
CHART 11
37
INDUCTION IS OF SUFFICIENT DURATION
89
100
80
60
40
11
20
0
Yes No
TABLE 12
WELCOME PROGRAMME RATED BY RESPONDENTS
S .NO OPTIONS NO OF RESPONDENTS PRECENTAGE (%)
01 HIGHLY INTERESTING 09 09
02 INTERESTING 66 66
03 MODERATELY 23 23
INTERESTING
04 LESS INTERESTING 02 02
05 NOT AT ALL INTERESTING 00 00
TOTAL 100 100
Source :Primary data
From the above table it is clear that when the respondents are asked to rate the
welcome programme 09 % said as highly interesting , 66 % said as interesting , 23 %
said as moderately interesting , o4 % said that less interesting .
38
CHART 12
WELCOME PROGRAMME RATED BY RESPONDENTS
100
80
66
60
40
20 23
9
0
Highly 2
Interes ting 0
Interes ting Moderately
Les s
Interes ting Not at all S1
Interes ting
Interes ting
TABLE 13
INSURANCE ADVISOURS JOB PROVIDES AN EXCELLENT OPPORTUNITY
FOR FINANCIAL GROWTH .
S .NO OPTIONS NO OF RESPONDENTS PRECENTAGE (%)
01 STRONGLY AGREE 26 26
02 AGREE 58 58
03 NEUTRAL 16 16
04 DISAGREE 00 00
05 STRONGLY DISAGREE 00 00
TOTAL 100 100
Source :Primary data
When it was asked to the respondents that the insurance advisors job provides an
excellent opportunity for financial growth about the organization, 26 % strongly agreed,
58 % agreed ,and 16 % were neither agreed nor disagreed.
CHART 13
INSURANCE ADVISOURS JOB PROVIDES AN EXCELLENT OPPORTUNITY
39
FOR FINANCIAL GROWTH .
100
80
60 58
40
26
20
16
0
Strongly 0
Agree 0 S1
Agree Neutral
Dis Agree
Strongly
Disagree
TABLE 14
SENIOR MANAGEMENT SHOWS INTEREST AND SPEND TIME TOWARDS
SELECTION PROGRAMME
S .NO OPTIONS NO OF RESPONDENTS PRECENTAGE (%)
01 STRONGLY AGREE 11 11
02 AGREE 63 63
03 NEUTRAL 25 25
04 DISAGREE 01 01
05 STRONGLY DIS AGREE 00 00
TOTAL 100 100
Source :Primary data
From the above table it is clear that senior management shows interest and spend time
towards programme and 11 % strongly agreed , 63 % agreed , 25 % neither agree nor
disagree , 1 % dis agree.
CHART 14
SENIOR MANAGEMENT SHOWS INTEREST AND SPEND TIME TOWARDS
SELECTION PROGRAMME
40
Dis Agree
1% Strongly Disagree
0%
Neutral
Strongly Agree Strongly Agree
25%
11% Agree
Neutral
Dis Agree
Agree Strongly Disagree
63%
TABLE 15
ADEQUATE MEASURES TAKEN BY THE ORGANISATION TO IMPROVE
THE REQUIREMENT PROCESS.
NOCHART 15
OF RESPONDENTS
ADEQUATE MEASURES TAKEN BY THE ORGANISATION TO IMPROVE
STRONGLY
THE REQUIREMENT PROCESS. AGREE
AGREE
NEUTRAL
DISAGREE
41 STRONGLY DIS
AGREE
STATISTICAL CALCULATIONS
CHI-SQUARE TEST
OBJECTIVE :
To identify the difference in briefing and debriefing session of the Selection and
Recruitment programme.
Step 01 :
42
EXPECTED FREQUENCY:
100 / 4 = 25
TABLE
OBSERVED EXPECTED (Oi – Ei ) (Oi – Ei )^2 (Oi – Ei )
FREQUENC FREQUENC ^2/Ei
Y Y
5 25 -20 400 16
43 25 18 324 12.96
41 25 16 256 10.24
11 25 -14 196 9.84
TOTA 47.04
L
NULL HYPOTHESIS:
HO: There is no difference between briefing and debriefing session
Degree of freedom = ( r-1) (s-1)
43
X2 = 47.04 < 7.815.
INFERENCE
The set up null hypothesis is rejected. Since the calculated value is greater than the table
value. so There is difference between briefing and debriefing session
VARIANCE TABLE
SOURCE OF SUM OF DEGREE OF VARIANCE
VARIANCE SQUARES FREEDOM
BETWEEN 302 4-1 = 3 100.66
VARIETIES
44
WITHIN THE 327.86 12-4 = 8 40.98
VARIEITES
t- TEST
Highest varieties / Lowest varieties
100.66 / 40.98 = 2.45
F < Tabulated value
2.45 < 3.86
INFERENCE
The set up null hypothesis is accepted (i.e) there is no significant relationship between
the specialized qualification and excellent opportunity for new comers.
RANK CORRELATION
R1 R2 D = R1-R2 D1^2
45
4 3.25 0.75 0.5625
1 3.25 -2.25 5.0625
2 1 1 1
3 2 1 1
D1^2 7.625
r=1- 6ED^2
n(n-1)
Ed^2=ED^2 +T.V
Ed^2 = 6.125
r = 0.3875
INFERENCE
Since the rank correlation between qualification and quality of company programme is
maximum and also positive. We conclude that the qualification and quality of in
company programmes has nearest approach to common link between the variables.
One way
Descriptives
46
ANOVA
Sum of
Squares df Mean Square F Sig.
Q8A1 Between (Combined) .094 2 .047 .316 .729
Groups Linear Term Unweighted .047 1 .047 .312 .578
Weighted .060 1 .060 .401 .528
Deviation .035 1 .035 .232 .631
Within Groups 14.466 97 .149
Total 14.560 99
Q8A2 Between (Combined) .404 2 .202 1.428 .245
Groups Linear Term Unweighted .116 1 .116 .822 .367
Weighted .170 1 .170 1.205 .275
Deviation .233 1 .233 1.651 .202
Within Groups 13.706 97 .141
Total 14.110 99
Q8A3 Between (Combined) .151 2 .075 .680 .509
Groups Linear Term Unweighted .006 1 .006 .057 .812
Weighted .001 1 .001 .006 .939
Deviation .150 1 .150 1.353 .248
Within Groups 10.759 97 .111
Total 10.910 99
47
Multiple Comparisons
Scheffe
Mean
Difference 95% Confidence Interval
Dependent Variable (I) P5 (J) P5 (I-J) Std. Error Sig. Lower Bound Upper Bound
Q8A1 Junior middle -.07 .105 .781 -.34 .19
senior -.05 .090 .856 -.27 .17
middle Junior .07 .105 .781 -.19 .34
senior .02 .117 .979 -.27 .31
senior Junior .05 .090 .856 -.17 .27
middle -.02 .117 .979 -.31 .27
Q8A2 Junior middle .17 .102 .270 -.09 .42
senior .08 .088 .664 -.14 .30
middle Junior -.17 .102 .270 -.42 .09
senior -.09 .114 .745 -.37 .20
senior Junior -.08 .088 .664 -.30 .14
middle .09 .114 .745 -.20 .37
Q8A3 Junior middle -.09 .091 .595 -.32 .13
senior .02 .078 .972 -.17 .21
middle Junior .09 .091 .595 -.13 .32
senior .11 .101 .546 -.14 .36
senior Junior -.02 .078 .972 -.21 .17
middle -.11 .101 .546 -.36 .14
Homogeneous Subsets
Q8A1
a,b
Scheffe
Subset
for alpha
= .05
P5 N 1
Junior 54 2.09
senior 28 2.14
middle 18 2.17
Sig. .778
Means for groups in homogeneous subsets are displayed.
a. Uses Harmonic Mean Sample Size = 27.325.
b. The group sizes are unequal. The harmonic mean
of the group sizes is used. Type I error levels are
not guaranteed.
48
Q8A2
a,b
Scheffe
Subset
for alpha
= .05
P5 N 1
middle 18 2.06
senior 28 2.14
Junior 54 2.22
Sig. .266
Means for groups in homogeneous subsets are displayed.
a. Uses Harmonic Mean Sample Size = 27.325.
b. The group sizes are unequal. The harmonic mean
of the group sizes is used. Type I error levels are
not guaranteed.
Q8A3
a,b
Scheffe
Subset
for alpha
= .05
P5 N 1
senior 28 2.00
Junior 54 2.02
middle 18 2.11
Sig. .470
Means for groups in homogeneous subsets are displayed.
a. Uses Harmonic Mean Sample Size = 27.325.
b. The group sizes are unequal. The harmonic mean
of the group sizes is used. Type I error levels are
not guaranteed.
INFERENCE:
The set up null hypothesis is rejected since there is significance relationship between
level of management and the parameters, since the group size is unequal
49
CHAPTER-VI
FINDINGS, SUGGESTION AND CONCLUSION
Findings
Total numbers of respondents who have said that the importance given to
recruitment program in the organization - excellent is 8 % , very good is 49 % ,
good is 40 % , fair is 01 %, Poor is 2%.
The norms and values of the company explained during the selection and
recruitment program, given by respondents - excellent is 13 % , very good is 39 %
, good 45 % and fair is 03
50
From the total respondents male respondents are 69.% and female respondents
Are 31%
From the total respondents 89 % said is sufficient and 11 % said that it is not
sufficient on induction program
when the respondents are asked to rate the welcome program 09 % said as
highly interesting , 66 % said as interesting , 23 % said as moderately interesting ,
o4 % said that less interesting .
The insurance advisors job provides an excellent opportunity for financial growth
about the organization, 26 % strongly agreed, 58 % agreed ,and 16 % were neither
agreed nor disagreed.
Senior management shows interest and spend time towards programme and 11 %
strongly agreed , 63 % agreed , 25 % neither agree nor disagree , 1 % disagree.
51
is maximum and also positive. We conclude that the qualification and quality of in
company programs has nearest approach to common link between the variables.
There is significance relationship between level of management and the
parameters, since the group size is unequal
Observation
Following were the observation from the fact finding exercise which was conducted on
planning.
2. Notice period was a major issue with respect to the joining period of the
candidate.
recruitment team.
5. Senior employees not available for interview which is causing an impact on the
hiring standards.
52
6. Complacency In attending to the candidates within reasonable time frame
53
the above observation the following recommendations were shared with the Vice
1. Headcount
a. Projections for the year should be defined at the beginning of the year with
b. Current industry practices like notice period buy-in could be considered for
b. An profiling test should be made mandatory for all the candidates with
ideally one by the immediate supervisor and the other by reviewer of the
open position
54
e. The collective score of both the assessment should meet the predefined
selection scores and also should contain the willingness to hire the
respective individual
4. Brand Building
intervals
5. Integrity Issues
55
Action Plan
implemented. I was responsible for designing all the assessment tools like the
Manpower Requisition Form, Candidate Profile Test and the Competency based
me
5. Recruitment team to identify the right vendors for Brand Building and Reference
check initiatives
56
Assessment Tools
This form was designed with the objective of addressing the issues with respective
fields which capture the necessary details such as the Team for which the person was
recruited, the Job description, Required years of experience, Primary and allied skills
and specific keywords that the recruiter can look forward in the resume.
This test aims at identifying individual’s basic intelligences. This test is based on the
This test contains 50 questions with 10 questions for each component of this
assessment. The questions are grouped in the order of the Intelligences as mentioned
above i.e. Q1 to Q10 are related to Linguistics, Q11 to Q20 are logical and so on. The
average score of each intelligence component refers to the individuals Profile score
It was mandated as a policy that any candidate being hired within the organisations
should have a minimum average score of 3.5 for components like Linguistics,
57
Enclosed is the sample of the Candidate Profile Test.
Two separate forms one for the HR and one for the operations team were designed to
have clarity in terms of the competencies they were required to check at the time of
interview. It was mandated that only Candidates who have a rating of Good and
58
Conclusion
The recommendations made to the management were accepted in good spirit. Some of
the action pointers were subject to budgetary approvals, which would be considered
life scenario. It also helped ING VYSYA to get a second opinion on their existing
recruitment practice thereby opening avenues for identifying their shortcomings within
59
Bibliography & Annexure
BIBLIOGRAPHY
HR Management – Thirupathy
1. www.irdaindia.com
2. www.insurancemagic.com
4. www.iciciprulife.com
60
Candidate Satisfaction Survey
Candidate Name :
Date :
Group :
Position
Interviewed for :
Interviewed By :
We request you to kindly enter your experience with us during the process of Interview
Recruiting Team
61
Managers Name
Experience
Job Description
Specific Skills
Key words
Allied Skills
Approved By
Signature
Name
Designation Department
Candidate Name :
62
Date :
Group :
Interviewed By :
Instructions :
63
3. Team work
4. Relevant Experience
5. Selling
6. Conversion
7. Goal Orientation
8. Follow-up
9. Customer focus
64
Lowlights of the Candidates
QUESTIONNAIRE
1.Name:
65
2.Gender Classification of the respondents.
Male ( ) Female ()
Below 20 ( ) 21 to 24 ( ) 25 to 29 ( ) 30 to 35 ( ) Above 35 ( )
4.Educational Qualification
Yes ( ) No ( )
Yes ( ) No ( )
11.Does recruitment process affect the sales force?
Yes ( ) No ( )
66
Yes ( ) No ( )
13. Welcome Program rated by respondents.
14. Insurance Advisors Job provides an Excellent opportunity for Financial growth.
15. Senior Management shows interest and spent time towards selection program.
16. Adequate measures taken by the organization to improve the requirement process.
67