A Dissertation Report On

A DISSERTATION REPORT ON

“AN ANALYTICAL STUDY OF RECRUITMENT AND SELECTION PROCESS”

Bharti AXA Life Insurance

Submitted to JawaharlalNehruTechnologicalUniversity in partial fulfillment of the Requirement for

MASTER OF BUSINESS ADMINISTRATION

Under the Guidance of

Mr. Imran Mohammed Ms. Girija

Agency Manager Assistant Professor

Bharti AXA Life Insurance

Banjara Hills.

By

Shirisha.D

(Reg No 098G1E0047)

Malla Reddy Institute of Business Management

JNTU

CERTIFICATE

This is to certify that the Dissertation Titled “An analytical study of Recruitment & Selection at Bharti AXA Life Insurance.” is based on an Original Project Study conducted by

Ms. Shirisha’ S of IV semester MBA Programme under the Guidance of Ms. Girija

This dissertation is based on original Research and has not formed basis for the award of any other Degree/Diploma by Jawaharlal Nehru Technological University 2009-2011.

(Ms. Girija)

Assistant professor

CERTIFICATE

This is to certify that the Dissertation entitled

“An analytical study of Recruitment and Selection Process”

Undertaken At Bharti AXA Life Insurance

(Banjara Hills)

Submitted in Partial Fulfillment of the Requirement for the Award of the Degree of Master of Business Administration, Is a Bonafide work carried out by

Shirisha.D

Reg No 098G1E0047

Mr. Imran Mohammed

Agency Manager

STUDENT DECLARATION

I hereby declare that the Project Report or the DISSERTATION entitled

“An analytical study of Recruitment and Selection Process”

Undertaken at

Bharti AXA Life Insurance

Under the Guidance of

Mr. Imran Mohammed
Agency Manager
Bharti AXA Life Insurance Banjara Hills. / Ms. Girija
Assistant Professor
MRIBM
Maisammaguda.

Submitted in partial fulfillment of the Requirement for the award of the Degree of Master of Business Administration, to JawaharlalNehruTechnologicalUniversity

Is the result of my own effort and has not been submitted to any other institution for the award of any degree

Date: (Shirisha.D)

ACKNOWLEDGEMENT

I am pleased to record my gratitude and sincere thanks to my guide

Ms. Girija guide, MRIBM for her sincere guidance and valuable assistance for completing this report.

I would like to express my sincere thanks to Mr. Imran Mohammed Agency Manager of Bharti AXA Life Insurance for guiding me to complete this project successfully.

I also take this moment to express my gratitude to Mr. Rama Krishna, Principal (MRIBM).

I am also indebted to my parents and friends for their support for completing this project successfully.

TABLE OF CONTENTS

S.no / Particulars / Page no
1. / Title Page
2 / Guide letter
3 / Company letter
4 / Student Declaration
5 / Acknowledgements
6 / Contents of Project
7 / Executive Summary
8 / Introduction to the topic
9 / Methodology
10 / Review of literature
11 / Company Profile
12 / Data analysis
13 / Findings and Conclusions
14 / Suggestions
15 / Bibliography
16 / Appendices

EXECUTIVE SUMMARY

The project is about Recruitment and Selection of Bharti AXA Life Insurance. The project was undertaken by me and the entire task was divided into sub-tasks. The process started from identifying the need, then advertising the same to prospective individuals by distribution of pamphlets, holding various activities in residential areas etc. then individuals were surveyed.

The questionnaire was designed in such a manner that it gave a general idea about the ability and capability of respondent as a prospective life insurance advisor. Certain scores were allotted depending on the answers given by the respondent. Those who were high on the scores were motivated to visit the office for conduction of their interview.

After the successful completion of interview individuals were informed if they were selected for training of Life advisors. They were asked to fill the NAAF form and a fee was collected from them along with their photographs. After successful completion of training an exam was conducted and those who qualified the exam were selected as life advisors.

The project report submitted here covers theory on recruitment and Selection, flowchart of activities undertaken for recruitment data analysis of the survey and a list of suggestions and recommendations for the company at the end of the entire study.

CHAPTER 1

INTRODUCTION TO THE TOPIC

INTRODUCTION

The human resources are the most important assets of an organization.The success or failure of an organization is largely dependent on the caliberof the people working therein. Without positive and creative contributionsfrom people, organizations cannot progress and prosper. In order to achievethe goals or the activities of an organization, therefore, they need to recruitpeople with requisite skills, qualifications and experience. While doing so,they have to keep the present as well as the future requirements of theorganization in mind.

Recruitment is distinct from Employment and Selection. Once therequired number and kind of human resources are determined, themanagement has to find the places where the required human resourcesare/will be available and also find the means of attracting them towards theorganization before selecting suitable candidates for jobs. All this process isgenerally known as recruitment. Some people use the term “Recruitment”for employment. These two are not one and the same.

Recruitment is onlyone of the steps in the entire employment process. Some others use the termrecruitment for selection. These are not the same either. Technicallyspeaking, the function of recruitment precedes the selection function and itincludes only finding, developing the sources of prospective employees andattracting them to apply for jobs in an organization, whereas the selection isthe process of finding out the most suitable candidate to the job out of thecandidates attracted (i.e., recruited).Formal definition of recruitment wouldgive clear cut idea about the function of recruitment.

DEFINITIONS

Recruitment is defined as, “a process to discover the sources ofmanpower to meet the requirements of the staffing schedule and to employeffective measures for attracting that manpower in adequate numbers tofacilitate effective selection of an efficient workforce.”

Edwin B. Flippodefined recruitment as “the process of searching for prospective employeesand stimulating them to apply for jobs in the organization.” Recruitment is a‘linking function’-joining together those with jobs to fill and those seeking jobs.

Recruitment and selection are two of the most important functions of personnel management. Recruitment precedes selection and helps in selecting a right candidate. Recruitment is a process to discover the sources of manpower to meet the requirement of the staffing schedule and to employ effective measures for attracting that manpower in adequate numbers to facilitate effective selection of efficient personnel.

Every organization needs to look after recruitment and selection in the initial period and thereafter as and when additional manpower is required due to expansion and development ofbusiness activities.

NEED FOR THE STUDY

Shortage of skills.

Skills and knowledge people are always on short supply. Alternatively they are too costly to hire from outside. The best alternative is to improve skill and knowledge of existing employees.

Technological Obsolescence.

Growth of technology takes places very fast. This will render current technology obsolete in the future. There is a great need to upgrade technology. This needs suitable training.

Personal Obsolescence.

At the time recruitment employees possess certain of knowledge and skill. As time passes knowledge becomes obsolete, unless it is updated by proper training. This happens because of changes taking place in product technology, production methods, procurement of better machines, setting up of modern productionlines, introduction of modern method of supervision and information processing through MIS and EDO.

Organization Obsolescence.

Modern management has introduced a number of innovative steps in functions of management like planning, organizing, controlling,coordinating and directing. Organization which is impervious to such changes is bound to fail and become obsolete.

Upgrading Ability of Threshold workers.

Public policy provides reservation to disadvantaged sections of the society like handicapped, minorities and dependents of deceased workers etc. All these are threshold workers having less than minimum prescribed level of knowledge and skill. They require extensive training to bring them up to the minimum level of performance standard.

Coercive training by government.

In order to provide better employability chances of unemployed youth, certain governments taken initiative to mobilize resources available at pubic/government and private sectors to outside candidates. One such example is the “Apprentice Training” conducted by govt. of India. Parts of expenditure incurred for this by private sectors are reimbursed by government.

Human capital

The latest thinking is to treat employees as “human capital”. The expenditure involved is training and developments are now being considered as an investment.

OBJECTIVES

How to recruit agents for Bharti-AXA Life Insurance Company.

To understand the process of recruitment and selection of agents in Bharti Axa Life Insurance Company.

To identify various sources of Recruitment used by Bharti Axa and compare their effectiveness to the organization in terms of cost and value.

To critically evaluate the various products of Bharti Axa and their benefits to customers.

To know the level of awareness about Bharti Axa among people/job applicants

CHAPTER - 11

REASEARCH METHODOLOGY

DATA SOURCES

Data Collection Method

Data was collected by Primary as well as Secondary method.

Primary Data Sources

Primary data was collected through a well structured questionnaire designed separately for candidates. A pilot survey was conducted to test the utility of the questionnaire and necessary changes being made.

Questionnaire Designed: Questionnaire was used for the survey

Secondary Data Sources

The secondary data was collected from the company manuals, handbooks, and management books and are edited to suite the purpose.

PERIOD OF STUDY:

The time period taken for this project is 45 days. Research done in Bharti AXA is helped to complete this project successfully. The study was completed with in short span of time that was available.

SAMPLE SIZE

For the purpose of analysis a sample size of respondents was selected.

The target group of the respondent was above years. The sample taken was 50.

RESEARCH DESIGN

The present investigation is descriptive type of study undertaken to estimate the product strategy of Bharti Axa. The present study identifies views of customers & analysis of Bharti Axa.

PROBLEM FORMULATION

The problem is that there is rising competition between Bharti Axa and other companies. Bharti Axa Insurance is also providing better services in spite of that Bharti Axa Insurance is having a greater market share

Limitations of the Study

1. As the project is prepared for academic purpose only, it suffers from the limitations of time and money, due to which analytical study into all the strategies adopted by the organization was not possible.

2. The study was completed with in short span of time that was available.

3. The report also suffers from the limitations of exhaustiveness as far as the information is concerned.

4. All this study is limited to Bharti AXA Life Insurance, Banjara Hills

COMPANY PROFILE

PROJECT REPORT

BHARTI AXA LIFE INSURANCE

“THE AWARENESS OF LIFE INSURANCE

AMONGST CONSUMERS”

Submitted in partial fulfillment of the requirements

For the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

SUBMITTED BY:

Shirisha.D(ROLL NO: 098G1E0047)

INTRODUCTION TO COMPANY

Bharti AXA Life Insurance Company Ltd

Bharti AXA Life Insurance

is a joint venture between Bharti, one of India’s leading business groups with interests in telecom, agri business and retail, and AXA, world leader in financial protection and wealth management. The joint venture company has a 74%stake from Bharti and 26% stake of AXA.

The company launched national operations in December 2006. Today, it has over 5200employees across over 12 states in the country. Our business philosophy is built around the promise of making people "Life Confident".

As we expand our presence across the country to cater to your insurance and wealth management needs with our product and service offerings, we continue to bring 'life confidence' to customers spread across India. Whatever your plans in life, you can be confident that Bharti AXA Life will offer the right financial solutions to help you achieve them.

The Joint Venture BHARTI and AXA

BHARTI

Bharti Enterprises is one of India¶s leading business groups with interests in telecom, agribusiness, insurance and retail. Bharti has been a pioneering force in the telecom sector with many firsts and innovations to its credit. Bharti Airtel Limited, a group company, is one of India¶s leading private sector providers of telecommunications services with an aggregate of 60million customers, spanning mobile, fixed line, broadband and enterprise services.

Bharti Airtel was ranked amongst the best performing companies in the world in the Business Week IT 100list 2007. Bharti Teletech is the country¶s largest manufacturer and exporter of telephone terminals. Bharti has a joint venture with ELRo Holdings India Ltd. ± µField Fresh Foods Pvt .Ltd¶ - for global distribution of fresh fruits and vegetables. Bharti also has a joint venture -

. Bharti also has a joint venture -

Bharti AXA Life Insurance Management company called Bharti Retail Pvt. Ltd. It also has a joint venture ± µBharti Wal-Mart Private Limited¶ ± with Wal-Mart, for wholesale cash-and-carry and back-end supply chain management operations.

AXA Group

AXA Group is a worldwide leader in Financial Protection. AXA' s operations are diverse geographically, with major operations in Western Europe, North America and the Asia/Pacific area. AXA had Euro 1,315 billion in assets under management as of December 31, 2006. For full year 2006, IFRS revenues amounted to Euro 79 billion, IFRS underlying earnings amounted to Euro 4,010 million and IFRS adjusted earnings to Euro 5,140 million. The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock Exchange. The AXA American Depository Share is also listed on the NYSE under the ticker symbol AXA.

Bharti AXA Life Insurance

Vision

To be a leader and the preferred company for financial protection and wealth management in India.

Values

Innovation

Team Spirit

Pragmatism

Integrity

Professionalism

Professionalism

A professional is a collegial discipline that regulates itself by means of mandatory, systematic training. It has a base in a body of technical and specialized knowledge that it both teaches and advances it sets and enforces its own standards and it has a service rather than a profit orientation, enshrined in a code of ethics.

Innovation:

Innovation . . . is generally understood as the successful introduction of anew thing or method . . . Innovation is the embodiment, combination, or synthesis of knowledge in original, relevant, valued new products, processes, or services.

Team Spirit :-

Team spirit is the spirit of a group that makes the members wants the group to succeed

Pragmatism:-

Pragmatism is the philosophy of considering practical consequences and real effects to be vital components of meaning and truth.

Integrity: -

Integrity is consistency of actions, values, methods, measures, principles, expectations and outcome. As a holistic concept, it judges the quality of a system in terms of its ability to achieve its own goals.

BHARTI AXA LIFE INSURANCE COMPANY LTD

Bharti AXA Life is a life insurance player that was started in 2006. It brings together strong financial expertise of the Paris-headquartered AXA Group, and Bharti Enterprises - one of India's leading business groups with interests in telecom, agricultural business, financial services, and retail. The joint venture has a 74% stake from Bharti and 26% stake from AXA Asia Pacific Holdings Ltd. (APH) .The Company launched national operations in December 2006. Today, Bharti AXA Life has a national footprint of distributors trained to provide quality financial advice and insurance solutions to the large Indian customer base.

Bharti AXA Life offers a range of innovative products and services that cater to specific insurance and wealth management needs of customers.

Our life insurance brand

We undertook an in-depth analysis wherein we identified the notion of preference was totally related to the trust granted to various names in insurance and financial services. The level of trust is very inadequate today, regardless of the brand considered. This is because the perception of consumers is that we are all evolving only in "a world of promises." And this is what we have to redefine.

Beyond promises... proof

We don't want to make promises any more. Instead, we want to demonstrate our ability to respond to client needs with real and tangible proof and, in so doing, to establish an authentic relationship of trust with our clients.

Our 3 core attitudes: Attentive, Reliable and Available

These are the three attitudes that clients most expect from an insurance and financial services company in exchange for their vote of confidence. These three attitudes stood out from the others in the consumer research we conducted across markets, regardless of their level of maturity.

They are at the heart of our actions and our commitments to clients.

About Bharti AXA Life Insurance and CEO

Milind Chalisgaonkar-Chief Executive Officer

Milind Chalisgaonkar is the Chief Executive Officer for Bharti AXA Life Insurance Co. Ltd. He has held CEO-level positions from 1993 to 2009 in industries like Insurance, BPO, Call center, Software & Manufacturing. His experience has been in building winning teams in start-up companies as well as existing organizations.

As the founding CEO, Milind was responsible for the formation and launch of Bharti AXA General Insurance Co, a joint venture between Bharti Group & AXA Group. The company was incorporated in 2007, and business was successfully launched in 2008. He was also Member of the Regional Management Board of AXA Asia General Insurance, responsible for IT, Processing & Claims across Asia.

From 2003 to 2006 he was the Managing Director of AXA Business Services, the BPO & Analytics operation of AXA Group in India.

Prior to this he was the founding CEO of MphasiS BPO (MsourcE India), providing outsourced remote services like call centers, Help desks & email response. The operations started in 1999 and grew to 2500 staff by year 2003. He also managed the software operations of MphasiS India from 1998 to 2000 as President (Indian Operation).