SYNOPSIS REPORT

ON

A Study on Recruitment for recruiting Financial Advisors

AT Prudential Life Insurance Co Ltd.

Introduction

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Success begins with hiring. Getting the right person for the right job at the right time helps us to build a winning team and this starts with effective recruitment. Once the required number and the kind of human resources are determined, the management needs to find the places where required human resources will be available and also find the means of attracting them towards the organization before selecting suitable candidates for jobs. It is becoming very difficult to get the right type of employees these days. Recruitment refers to the process of searching for the prospective candidates and stimulating them to apply for the jobs. It refers to the process of acquiring applicants who are available and qualified to fill positions in the organization. The basic goal of recruitment is to locate, at the least cost, qualified applicants who will remain with the organization. Recruitment is the process during which potential employees are attracted, informed and oriented about the organization and thereby motivated to make themselves available for vacant positions. The three important elements in this definition are Potential suitable employees Recruitment goes further than informing people of a vacancy. It has to attract those that meet the general criteria of the organization as well as the criteria qualified for the vacancy. Motivation During recruitment, a person should be motivated to go further than just take note of the advertisement or information. To be successful, the person should be motivated to take the necessary action that can lead to employment. Recruitment and selection Because the organization has vacancy, the recruitment originates from the organization. The applicant has to accept the employment before the recruitment process can be seen as successful and complete. It takes careful planning and consideration to recruit successfully. When you fill a vacant or new position you have an opportunity to reflect on the work to be done, the need for change and what new skills might be required in the future. When planning to recruit, we need to consider how we will schedule the various recruitment and selection tasks. You also need to make some important decisions about the position and complete certain tasks before you can get approval to recruit. This process starts when vacancies are available and the management decides to fill them through suitable recruitment procedures. This will be later followed by selection procedure, which is concerned with the

_________________________ selection of best among the interested candidates.

Company Profile
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). Vision: To make ICICI Prudential the dominant Life and Pensions player built on trust by worldclass people and service. This we hope to achieve by: Understanding the needs of customers and offering them superior products and service. Leveraging technology to service customers quickly, efficiently and conveniently Developing and implementing superior risk management and investment strategies to offer sustainable and stable returns to our policyholders Providing an enabling environment to foster growth and learning for our employees

The success of the company will be founded in its unflinching commitment to 5 core values -- Integrity, Customer First, Boundary less, Ownership and Passion. Each of the values describes what the company stands for, the qualities of our people and the way we work.

There are two kinds of insurance as given below:1. Life Insurance: Human lives are insured under life insurance. A Life Insurance is a combination of savings as well as security element. The insured is assured that the insurance company will pay his family the insured amount in the case of premature death. Is he is alive and the policy matures for payment, the savings so made will be helpful in his old age. Only the Life Insurance Corporation of India transacts life insurance business in India.

2. General Insurance:

_________________________ All insurance other than Life Insurance fall under General Insurance. Only the general insurance corporation of India transacts General Insurance business in India.

Introduction to Recruitment:
Recruitment and selection is the process of identifying the need for a job, defining the requirements of the position and the job holder, advertising the position and choosing the most appropriate person for the job. Retention means ensuring that once the best person has been recruited, they stay with the business and are not poached by rival companies. Undertaking this process is one of the main objectives of management. Indeed, the success of any business depends to a large extent on the quality of its staff. Recruiting employees with the correct skills can add value to a business and recruiting workers at a wage or salary that the business can afford, will reduce costs. Employees should therefore be carefully selected, managed and retained, just like any other resource.

Recruitment methods
A manager can recruit in two different ways:

Internal recruitment is when the business looks to fill the vacancy from within
its existing workforce.

External recruitment is when the business looks to fill the vacancy from any
suitable applicant outside the business.

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Purpose of the study

The main purpose of this study is to find some creative and innovative methods of recruitment for recruiting Financial Advisors at ICICI Prudential Life Insurance Co Ltd. Which will help the company to get the required kind and the number of candidates for Advisors job who will place their insurance products and give a hand in doing their business successfully.

Statement of the problem

Management Problem In spite of lot many efforts ICICI Prudential is unable to get the requisite Candidates for Financial Advisors.

Research Problem To develop effective and Practical methods of Recruitment for recruiting Financial Advisors at ICICI Prudential.

OBJECTIVE OF THE STUDY:

1. To know the effectiveness of different methods practically conducted.
2.

To know about the most potential segment, based on age, education, and occupation

level, for financial Advisors job. 3. To know the urge of why people go in for this job. 4. To know about the most important factors considered by the candidates while joining the Advisors job.

Research Methodology:
Data Source Area of Research Research approach Research Instrument Sample Plan Sample Unit Sampling Method Sample size : Primary Data (Field Survey) Secondary data-Internet : Belgaum city : Survey method : Questionnaire : Personal Interview : Newly recruited Advisors : Convenience sampling : 100 Financial Advisors newly recruited

Measuring Tool:Questionnaire (Graph and Charts)

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Questionnaire
Dear Sir/Madam,

Name: Address: Contact No: Email ID: 1. Gender: Male ( ) Female ( )

2. Marital status: Married ( ) Unmarried ( )

3. I am aged between: 18 yrs 25 yrs 25 yrs 35 yrs 35 yrs 45 yrs Above 45 yrs ( ( ( ( ) ) ) )

4. I have completed my PUC II Graduate ( ( ) ) Diploma () ( ) Post Graduate

5. Right now I am Salaried Professional Retired Any other, specify ( ) () Businessman ( ) Housewife () ( )

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If Professional:

Doctor

) ) ( )

Advocate Engineer

( (

) )

Teacher (

CA/ICWA/CFA

6. How were you been made aware of ICICI Prudentials Financial Advisors job offer? Through: Tele-calling Apartment activity Joggers park Any others specify ( ( ( ) Pamphlets through Newspapers ) Beauty parlours visit ) Friends and Relatives ( ( ( ) ) )

7. Which method of Training did you opt for? Manual Training ( ) Online Training ( )

8. What made you join ICICI Prudential as Financial Advisor?

To supplement my income Passion for job To utilize my spare time To build my Career

( ( ( (

) ) ) )

9. How would you rate the following factors with regard to Advisors job? (Rate between 1 to 5, 1 being the highest and 5 being the lowest) Commission/incentives Growth opportunities Personality Development ( ( ( ) ) ) Quality of work life Brand Image ( ( ) )

Thank You

Bibliography

Text book:
1. Subha Roa

Web Site:
1. www.google.com

2. www.iciciprulife.com

3. www.insurance.com