Professional Documents
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Human Resource Practices
Human Resource Practices
CHAPTER 1
INTRODUCTION
1.1) Introduction:
Human resources functions are significantly different from HR practices.
Functions are comprised of transactional activities that can be handled in-house or
easily outsourced. Practices are part conceptual, part implementation of an HR
strategy, comprised of systems that follow the normal or customary way of doing
business. The term "best practices" refers to the HR systems that have the greatest
impact on the workforce and the organization.
The search for universal principles of human resource management has been a
long one marked by periodic rediscoveries. Indeed one of the paradoxes in this search
is that we keep finding answers but somehow do not stick to them. For example, the
principle that "if you want people to change, you will be more likely to succeed if you
involve them in the process of planning the change" is as old as management inquiry
itself, yet we find participatory management, Likert's System 4, employee
empowerment, and similar concepts emerging over and over again as if they are new
and brilliant insights. Similarly, the principle that "if you want good communication
in an organization it is necessary to build high levels of mutual trust," has been known
for a long time, yet we casually introduce management practices that undermine trust
and then wonder later why our organizations are not more effective. Most
management theories espouse that people are important, but few of them treat people
as more than a resouce to be managed like any other resource, and few of them treat
people as a capital investment. In fact the frenzy of downsizing that we are seeing all
over the world today suggests that people are viewed primarily as a cost to be
controlled and minimized. Part of the problem is that we have split off human
resource management from the general management problem, as if there were some
other kind of management other than human resource management. As long as
organizations are based upon the coordinated action of two or more people,
management is by definition human resource management. It is a reasonable to
postulate that those few organizations in the world who understand the above points,
who understand that all management involves people, and who practice the principles
of empowerment and trust building will consistently outperform those who do not,
Vidyabharti Mahavidyalay, Amravati
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Geographical spread: how far is the job from the individual? The distance to
travel to work should be in line with remuneration, and the transportation and
infrastructure of the area also influence who applies for a position.
Occupational structure: the norms and values of the different careers within an
organization. Mahoney 1989 developed 3 different types of occupational
structure, namely, craft (loyalty to the profession), organization career path
(promotion through the firm) and unstructured (lower/unskilled workers who
work when needed).
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Practices
Business function
Dave Ulrich lists the functions of HR as: aligning HR and business strategy,
re-engineering organization processes, listening and responding to employees, and
managing transformation and change.
At the macro-level, HR is in charge of overseeing organizational leadership
and culture. HR also ensures compliance with employment and labor laws, which
differ by geography, and often oversees health, safety, and security. In circumstances
where employees desire and are legally authorized to hold a collective bargaining
agreement, HR will typically also serve as the company's primary liaison with the
employee's representatives (usually a labor union). Consequently, HR, usually through
representatives, engages in lobbying efforts with governmental agencies (e.g., in the
United States, the United States Department of Labor and the National Labor
Relations Board) to further its priorities.
To look at Human Resource Management more specifically, it has four basic
functions: staffing, Practices and development, motivation and maintenance. Staffing
is the recruitment and selection of potential employees, done through interviewing,
applications, networking, etc. Practices and development is the next step in a
continuous process of Practices and developing competent and adapted employees.
Motivation is key to keeping employees highly productive. This function can include
employee benefits, performance appraisals and rewards. The last function of
maintenance involves keeping the employees' commitment and loyalty to the
organization.
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within
the
HR
domain,
such
as financial
compensation, recruitment,
and Practices.
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CHAPTER 2
COMPANY PROFILE
2.1) Introduction:
in
India
with
an
estimated
asset
value
of 1560482 crore
(US$240 billion). As of 2013 it had total life fund of Rs.1433103.14 crore with total
value of policies sold of 367.82 lakh that year.
The company was founded in 1956 when the Parliament of India passed the
Life Insurance of India Act that nationalized the private insurance industry in India.
Over 245 insurance companies and provident societies were merged to create the state
owned Life Insurance Corporation.
Life insurance in India made its debut well over 100 years ago.
In our country, which is one of the most populated in the world, the
prominence of insurance is not as widely understood, as it ought to be. What follows
is an attempt to acquaint readers with some of the concepts of life insurance, with
special reference to LIC.
It should, however, be clearly understood that the following content is by no
means an exhaustive description of the terms and conditions of an LIC policy or its
benefits or privileges.
For more details, please contact our branch or divisional office. Any LIC
Agent will be glad to help you choose the life insurance plan to meet your needs and
render policy servicing.
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Mission
"Explore and enhance the quality of life of people through financial security by
providing products and services of aspired attributes with competitive returns, and by
rendering resources for economic development."
Vision
"A trans-nationally competitive financial conglomerate of significance to societies and
Pride of India."
2.2) History:
Brief History of Insurance
The story of insurance is probably as old as the story of mankind. The same
instinct that prompts modern businessmen today to secure themselves against loss and
Vidyabharti Mahavidyalay, Amravati
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Some of the important milestones in the life insurance business in India are:
1818: Oriental Life Insurance Company, the first life insurance company on Indian
soil started functioning.
1870: Bombay Mutual Life Assurance Society, the first Indian life insurance company
started its business.
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Public Sector
Industry
Financial services
Founded
1 September 1956
Headquarters
Mumbai, India
Key people
Life insurance,
health insurance,
investment management,
Revenue
Profit
Total assets
Owner
Number of
mutual fund
US$46,794 million(2012)
US$3,257 million (2012)
1560482 crore(US$240 billion) (2013)
Government of India
119,767 (Mar 2012)
employees
Subsidiaries
Products
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Website
2.4) Products:
Insurance Plan
Group Plan
Pension Plan
Unit Plan
Special Plans
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CHAPTER 3
RESEARCH METHODOLOGY
3.1) RESEARCH DESIGN:
To collect data needed to address the above mentioned objectives the
exploratory research design was used.
Exploratory research was design to describe something. It includes surveys and
facts finding enquiries of different kind. The research study is based on collection of
data and analysis to draw the conclusion.
3.2) METHODOLOGY:
The completion of research involved three phases:
First phase: Collection of Secondary and Primary data. Secondary data were
collected from books, magazines and websites, etc. And Primary data was
Third phase: Data analysis using statistical tools. Inferences, conclusions, suggestions
based on data collected.
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Sample Size
This refers to the number of item to be selected from the universe to constitute a
sample. The sample size was 50 employees for research.
Employees.
To study the practices in order to increase the efficiency and effectiveness of its
Human Resources
To assess practices regarding human resource planning and recruitment in LIC.
To identify selection and socialization practices in LIC.
To assess the practices regarding Practices in LIC.
To assess practices of performance appraisal in LIC.
To assess the compensation and benefits related practices in LIC.
3.6) LIMITATION:
The present study is limited to many aspects. It is not possible to take into
consideration each and every criterion in this study.
1) Sample size was 50 respondents due to time and money constraints
2) The study was limited to Life Insurance Corporation India, Ltd. Amravati
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CHAPTER NO 4
DATA ANALYSIS & INTERPRETATION
The data so collected is scrutinized, tabulated and analyzed by the help
of some statistical tools and techniques and finally used for the study purpose.
Following are the major conclusions are drawn by the researchers.
Table No. 4.1 AGEWISE CLASSIFICATION OF RESPONDENTS
Sr. No
Age(in years)
Number of respondents
Percentage
10
15
10
10
05
50
20
30
20
20
10
100
1
2
3
4
5
18-25
26-35
36-45
46-55
Above 55
TOTAL
Sources: Primary Data
Number of respondents
10%
18-25
20%
20%
20%
26-35
36-45
30%
46-55
Above 55
Interpretation
From above data it can be concluded that, 30% of the respondent from the age
group of 26-35, 20% of the respondent from the age group of 18-25, 36-45 & 46-55.
10% respondents are from above 55 groups.
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Sr. No
Gender
Number of
Percentage
1
2
Male
Female
TOTAL
respondents
35
15
50
70
30
100
Number of respondents
Male
Female
30%
70%
Interpretation
From above data it can be concluded that, 70% of the respondents are male
and 30% are females.
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Working Period
Number of
Percentage
1
2
3
4
Below 2 Years
2-5 Years
5-10 Years
Above 10 Years
TOTAL
respondents
15
15
10
05
50
30
30
20
10
100
Number of respondents
No. of respondents
16
14
12
10
8
6
4
2
0
Number of respondents
Interpretation
From above data it can be concluded that, 30% of the respondent working from since
2 and 2-5 years.20% and 10% respondents working since last 5-10 years, Above 10
years respectively.
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Percentage
20
30
30
20
100
Percentage
30
30
30
25
20
20
20
Percentage
No. of respondents
15
10
5
0
1
2-3
Interpretation
From above data it can be concluded that, 30% of the respondent attended 2-3 & 4-6
Programs respectively. 20% of the respondents attended only 1 & more than 6
Practices programs in a year.
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Sr. No
Identified by
1
2
3
4
By Systematic Analysis
Based on Performance Appraisal
Individual Assessment
Based on Feedback of Superior
Total
Sources: Primary Data
Number of
Percentage
respondents
5
15
15
15
50
10
30
30
30
100
Number of respondents
16
14
12
10
8
6
5
4
2
0
No. of Respondents
15
15
Interpretation
From above data it can be concluded that, 30% of the respondent says that
there organization identified the Practices need by feedback, performance base and
individual assessment. 10% of the respondents say by systematic analysis.
Benifited
Respondent
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Percentage
15
Yes
No
total
35
15
50
70
30
100
Respondent
Yes
No
30%
70%
Interpretation
From above data it can be concluded that, 70% of the respondents are says that
the Practices program is benefited to them and 30% are says not benefited.
Duration
Respondent
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Percentage
Adequate
Long
Short
total
18
52
30
100
18
52
30
100
Respondent
Adequate
Long
Short
18%
30%
52%
Interpretation
From above data it can be concluded that, 52% of the respondents are says that
the Practices program was long durable, 30% are says durability of the Practices
program was short and 18% said adequate.
Opinion
Yes
Respondent
24
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Percentage
24
No
Cant say
total
52
24
100
52
24
100
Respondent
Yes
No
Cant say
24%
24%
52%
Interpretation
From above data it can be concluded that, 52% of the respondents are says that
the Practices program is not benefited to them and 24% are says benefited and cant
say.
Facilities
Excellent
Satisfactory
Respondent
10
10
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Percentage
20
20
15
15
30
30
Respondent
Un-satisfied
Good
Respondent
Satisfactory
Excellent
0
10
12
14
16
No. of Respondents
Interpretation
From above data it can be concluded that, 30% of the respondent says that
there organization provide good facilities in the place of HR practices program and
30%, 20%, 20%, respondents are says un-satisfactory, satisfactory and excellent
respectively.
Method
Number of
Percentage
respondents
25
15
10
50
50
30
20
100
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Number of respondents
25
20
15
10
No. of Respondents
5
0
Interpretation
From above data it can be concluded that, 50% of the respondent says that
there organization provides on the job Practices, 30% says they provide off the job
Practices and 20% says both methods are use there.
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Method
1
Job Instruction
2
Coaching
3
Seminar
4
Job Rotation
5
Committee assignment
Sources: Primary Data
Number of
Percentage
respondents
22
21
19
24
16
22
21
19
24
16
No. of Respondents
22
21
24
19
16
5
0
Interpretation
From above data it can be concluded that, in case on the job Practices, most of
the employee prefer job rotation method, i.e. 24%, 22, 21, 19, 16% respondents likes
job instruction, coaching, seminar and committee assignment.
Table No. 4.12 TYPE OF PRACTICES METHOD USE IN CASE OFF THE
JOB PRACTICES
Sr. No
Method
Number of
respondents
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Percentage
Role plays
Conference
Programmed instruction
Lecture
Total
Sources: Primary Data
22
34
22
24
100
22
34
22
24
100
Graph no. 4.12 TYPE OF PRACTICES METHOD USE IN CASE OFF THE
JOB PRACTICES
35
30
25
20
15
10
No. of Respondents
34
22
22
24
5
0
Interpretation
From above data it can be concluded that, in case off the job Practices, most of
the employee prefer conference, i.e. 34%, 22, 22, 24% respondents likes programmed
instruction, role plays and lecture.
Support
No. of
Percentage
1
2
3
Full
Partial
Not at all
respondent
25
15
10
50
30
20
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50
100
No. of respondent
Not at all
No. of respondent
Partial
Full
0
10
15
20
25
No. of Respondents
Interpretation
From above data it can be concluded that, 50% of the respondent says that
their superiors provides full supports to complete the Practices, 30% says they provide
partial supports and 20% says not at all.
Rating
No. of
Percentage
Convenient
Disturbing
Average
Cant Say
respondent
10
20
05
15
20
40
10
30
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No. of respondent
No. of Respondents
20
18
16
14
12
10
8
6
4
2
0
No. of respondent
Interpretation
From above data it can be concluded that, 40% of the respondent says that the
Practices program was disturbing, 20% cant say about Practices program, convenient
and average says 30%, 10% respectively.
Area
No.
1
Company policies & procedures
2
Skill base Practices
3
Problem solving skill
4
Human relation Practices
Sources: Primary Data
No. of
Percentage
respondent
05
15
15
15
10
30
30
30
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No. of respondent
Company policies & procedures; 10%
Human relation training; 30%
Interpretation
From above data it can be concluded that, 30% each of the respondent says
that the Practices program will be for the Human Relation Practices, Skills, Problem
solving, and only 10% respondents says for Policies and procedures.
Purpose
No.
1
To increase the product knowledge
2
For handling machine
3
Motivating and encouraging
4
To learn how to convenience people
5
To be well trained in product information
Sources: Primary Data
No. of
Percentage
respondent
10
12
06
04
18
10
12
06
04
18
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20%
For handling machine
Interpretation
From above data it can be concluded that, 36 % respondents said Practices
purpose to be well trained in product information and documents, 20, 24, 12, 8%
respondents said to increase the product knowledge, for handling machine, motivating
& encouraging, and to learn how to convenience people.
Improvement
No. of
Percentage
1
2
Sources: Primary Data
Yes
No
respondent
30
20
60
40
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No. of Respondents
15
No. of respondent
10
5
0
Yes
No
Interpretation
From the above data it can be conclude that, 60% respondents are says
improvement after Practices and 40% says there is no improvement after the Practices
program.
Reduction
No. of
Percentage
Yes
No
respondent
30
20
60
40
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No. of Respondents
15
No. of respondent
10
5
0
Yes
No
Interpretation
From the above data it can be conclude that, 60% respondents are says
reduction in absentee after Practices and 40% says there is no reduction in
absenteeism after the Practices program.
CHAPTER NO 5
FINDINGS, SUGGETIONS & RECOMMONDATIONS
5.1) FINDINGS:
Most of the employees in Life Insurance Company Ltd. have attended more than 6
programs in a year.
1. In this research, mostly respondents from the age group of 26-35 years, i.e.
30%.
Vidyabharti Mahavidyalay, Amravati
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Most of the employees in the organization are not satisfied with the duration
and schedule of Practices program.
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