Summer Training Report ON Recruitments of Financial Consultant Sales Development Manager, & Channel Development Manager of HDFC Standard Life

Recruitment of FC, SDM, CDM
SUMMER TRAINING REPORT

ON
Recruitments of financial consultant Sales Development manager,

& channel development manager of HDFC
Standard Life
SUBMITTED TO PUNJAB UNIVERSITY, CHANDIGARH
A Project Report submitted in partial fulfillment of the requirements for the

award of the degree
MASTER OF BUSINESS ADMINISTRATION COMMERCE

AND INFORMATION TECHNOLOGY
(2009-2010)
SUBMITTED BY
SIMRAN JEET KAUR
ROLL NO 625
MASTER TARA SINGH MEMORIAL COLLEGE 1

AKNOWLEDGEMENT
The statistical analyses of survey responses in this study reveal interesting I would like to
start by praying the almighty; which has been always help me and will be the driving force of
this mankind to give all of us the strength to achieve our set goals and target. The
compilation of a report not only requires time, effort and energy but also valuable guidelines
from various people.
I have great pleasure and privilege in expressing my deep sense of gratitude to my
supervisor MR. GAURAV MALHOTRA (Regional H.R. Manager) & MR. RAJESH
SHARMA (Branch Manager) for his supervision, constant encouragement, constructive
criticism and valuable counsel.
Finally we also wish to thank MASTER TARA SINGH MEMORIAL COLLEGE FOR
WOMEN for making this experience of summer training in an esteemed organization like
HDFC STANDARD LIFE possible. The learning from this experience has been immense
and would be cherished throughout life.
SIMRAN JEET
EXECUTIVE SUMMARY

I have done my summer training HDFCSLIC STANDARD LIFE. In whole work of my

summer training I have contracted the existing as well as others customers and take their
view and perception towards Insurance Services. During my training I have tried to find out
the what are the inconveniences with HDFCSLIC STANDARD LIFE among the existing
customer and about INSURANCE services and how much they avail these facilities.
During my training I have also Recruitment of FC, SDM& CDM. The compression is
followed by the services and at the end the recommendation which could help HDFCSLIC
to be more effective in the field of INSURANCE SECTOR.

PREFACE
In today’s technology driven and competitive business environment learning new skills and
upgrading to existing ones are very vital. Education should compromise not only book
learning but also proper training of mind acquisition of practical knowledge in the secret of
success. The challenges and opportunities emerging in the wake of globalization and
liberalization of economics world, calls for a through understanding of the various factors of
Management.
Perusing MBA in MASTER TARA SINGH MEMORIAL COLLEGE, LUDHIANA and
provides me the opportunities to develop my skill of managerial aspect. For my training
purpose I had the privilege to have been associated with the India’s leading HDFCSLIC
with a view to obtain practical exposure in corporate world.
:-

CONTENTS
CHAPTER 1 INTRODUCTION ABOUT INSURANCE 6-8

1) BRIEF HISTORY OF INSURNCE SECTOR
2) WHAT IS INSURANCE
3) WHAT IS INSURANCE AND HOW IT W
4) BENEFITS OF INSURNACE SECTOR
CHAPTER 2 INTRODUCTION ABOUT RECRUITMENT 9-22
1) Meaning of Recruitment
2) Sources of Recruitment
3) Benefits of Recruitment
CHAPTER 3 INTRODUCTION ABOUT HDFCSLIC 23-
1) Company profile of hdfc slic
2) Hdfc slic products
3) Objectives of hdfc slic
4) Vision and values of hdfc slic
5) Awards and achievents
6) Organization structure
7) Directors of company
8) History of company
9) HR Roles and Procedures
10) Swot analysis
11) Uses of green page
12) Empower
13) Compensation management
CHAPTER 4 INTRODUCTION ABOUT FC ,SDM,CDM
1) DEFINITION OF FC
2) WHAT GOVERNS FC

3) WHAT INSURANCE IS PROFESSION

4) LICENCING PROCESS OF FC
5) TRAINING REQUIREMENT OF FC
6) PRE RECRUITMENT OF TEST
7) PRE REQUIREMENT TEST
8) IRDA AUTHORITY
9) REWARDS AND RECOGNITION
Introduction of Sales Development Manager….
1) MEANING OF SDM
2) ROLES OF SDM
3) Front line Assessment and growth of SDM
4) INCENTIVES OF SDM
Introduction of Channel Development Manager.
1) Meaning of Channel Development Manager..

2) CDM Roles and their Process……………………
3) Incentives of cdm
CHAPTER 6 Research Methodology
1) Primary data
2) Secondary data
3) Sampling
CHAPTER 6 OBJECTIVE OF STUDY
CHAPTER 7 DATA ANALYSIS AND INTERPRETATION
1) Questionnaire
2) Analysis
3) Conclusion …………………………………..
4) Bibliography……………………………

CHAPTER 1 INTRODUCTION ABOUT INSURANCE
WHAT IS INSURANCE?
Insurance is a legal agreement between two parties to secure the payment of a sum of
money in the event of loss or damage to property, life, a person etc. by regular payments or
premiums
BRIEF HISTORY OF HDFC SLIC
Insurance started with Marine Insurance

• First Indian Insurance Co. was Bombay Mutual Assurance Society Ltd. Formed in
1870
• Life Insurance was nationalized in 1956 by merging 245 companies
• Insurance sector was opened again to private players in 1999
• As on 31st March 2002, 11 Life Insurance Companies transact Life Insurance
business in India ( Now no.14)
WHAT IS INSURANCE & HOW IT WORKS?
. Insurance is primarily a risk sharing device

• Contributions are many used to share losses of unfortunate few
• Loss must be unbearable by one and bearable if shared by the community

• Loss must occur accidentally, randomly

• Insurance compensates for the loss, that too not fully

• Nobody should make gain out of Insurance
BENEFITS OF INSURANCE
• Provides security to the family

• Builds funds for retirement income
• An instrument of compulsory saving guaranteeing target amount of saving
• Provides tax saving
• Preserves human life value
• Superior to other ordinary saving plans
• Encourages savings and forces thrift
• Provides protection against creditors
• Easy settlement, easy encashment, quick borrowing
• Above all, provides peace of mind

Chapter 2 : INTRODUCTION ABOUT RECRUITMENT

General Information
Recruitment is an integral part of the process of finding a job. But with the growing number
of firms, companies and other potential employment institutes, the process of finding a job or
employment has been made very difficult for the potential employees. These potential
employees face several overlapping constraints like shortage of time to look out for
employment, too much of expenditure unnecessary and inadequate information about the
companies.
Approaching the potential employers with the prospect of securing a job does not work
well for the aspiring job seekers as the companies are not able to devote much of their time to
these job seeking candidates. The companies have so busy schedule that they are not able to
find time to look out for their own manpower requirement.
Hence, when the candidates seeking job approach them, the companies are not able to
interact with them well. And on the other hand, the prospective employee not being
acquainted of what is required of him/her fails to deliver the expected. This two-dimensional
problem is being faced by both the parties while talking about this aspect of the issue.

A company or a firm in need of a limited number of manpower is bound to attract a huge

number of potential employees, especially in a country like India where there is an acute
shortage of jobs. The aspirants are well matched to each other in all the possible ways and
are talented enough to lock horns with the competing candidates to fight for the limited
number of jobs. For example, an advertisement by the firm to fill in two empty posts or jobs
may attract applications huge in number, as huge as two hundreds or even more than that.
Just to fill in those two empty posts the company has to go through the 200 applicants’
resumes and other documents. This process is tedious in nature and consumes a lot of time
and monetary resources. The firm may not be in a position to devote so much of its time and
funds just to select two candidates. This in turn, has led to a demand for agents that could
work and select potential employees for the firm up to a particular level after which, the
company would itself control the selection process of the candidates. The company pays a
certain amount of fees for the services rendered by these recruitment firms.
Recruitment:
Recruitment is defined as “a process to discover the sources of manpower to meet the
requirements of the staffing schedule and to employ effective measures for attracting that
manpower in adequate numbers to facilitate effective selection of an efficient workforce.
Edwin B.Flippo defined recruitment as “the process of searching for prospective employees
and stimulating them to apply for jobs in the organization”.
Recruitment Strategies:
1. Insourcing or Outsourcing: Companies recruit the candidates, employ them, train

and develop them and utilize the human resources of these candidates. This strategy
is called “in-sourcing”. Some organizations employ and develop the candidates with

a view to provide the human resource to other companies which concentrate on

manufacturing, servicing and such other activities. Such manufacturing and service
companies depend for their human resource requirement on such external
organizations, whose core business is to provide human resource. This strategy is
called “outsourcing”.
2. Internet: The fast developing IT industry and high technology oriented industry
invariably require to get vast human resource through the Internet.
Process of Recruitment in HDFCSLIC
Recruitment process passes through the following stages:

1. Recruitment process begins when the personnel department receives requisitions for
recruitment from any department of the company. The personal requisitions contain
details about the position to be filled, number of persons to be recruited, the duties to be
performed, qualifications expected from the candidates, terms and conditions of
employment and the time by which the persons should be available for appointment etc.
2. Locating and developing the sources of required number and type of employees.
3. Identifying the prospective employees with required characteristics.
4. Developing the techniques to attract the desired candidates. The goodwill of an
organization in the market may be one technique. The publicity about the company being
a good employer may also help in stimulating candidates to apply.
5. Employing of techniques to attract candidates .There may be others of attractive salaries,
proper facilities for development etc.
6. The next stage in the process is to stimulate as many candidates as possible and ask them
to apply for jobs. In order to increase the selection ratio, there is a need to attract more
candidates.

7. Evaluating the effectiveness of recruitment process. It consists of five elements namely

recruitment policy, a recruitment organization, developing sources of recruitment techniques
used to tap these sources, and a method of assessing the recruitment programme.
The sources of recruitment:
TRADITIONAL SOURCES OF RECRUITMENT

INTERNAL SOURCES:
Present Permanent Employees:

Organizations consider the candidates from this source for higher level jobs due to
availability of most suitable candidates for jobs relatively or equally to the external source, to
meet the trade union demands and due to the policy of the organization to motivate the
present employees.
Present Temporary or Casual Employees:

Organizations find this source to fill the vacancies at the lower level owing to the availability
of suitable candidates or trade union pressures or in order to motivate them on the present
job.
Retrenched or Retired Employees:

Organization retrenches the employees due to lack of work. The organization takes the
candidates for employment from the retrenched employees due to the pressure from trade
unions, obligations and the like others. Sometimes, the organization prefers to re-employ the
employees as a token of their loyalty to the organization or to postpone some inter-personal
conflicts for promotion etc.
Dependents of Deceased, Disabled, Retired and Present Employees:

Some organizations function with a view to developing the commitment and loyalty of not
only the employee but also his family members and to build up image and provide
employment to the dependents of deceased, disabled and present employees. Such
organizations find this source as an effective source of recruitment.
EXTERNAL SOURCES:
Campus Recruitment:
Inexperienced candidates can be recruited from various educational institutes like colleges
and universities imparting education in science, commerce, arts, engineering and technology,
agriculture, medicine, management studies etc.
Private Employment Agencies/Consultants:

Public employment agencies or consultants perform recruitment functions on behalf of a
client company by charging fees.
Public Employment Exchanges:

The Govt. set up public employment exchanges in the country to provide information about
vacancies to the candidates and to help the organization in finding out suitable candidates.
Professional Organizations:
These organizations maintain complete resumes of their members and provide the same to
other organizations on requisition.
Data Banks:
The management can collect the resumes of the candidates from different sources like
employment exchanges, educational training institutes; candidates feed them in the

computer. It will become another source were the company can get their particulars as and
when it needs to recruit.
Casual Applications:
Depending upon the image of the organization, its prompt response, participation of the
organization in the local activities, level of unemployment, candidates apply casually for jobs
through mail or hand over the applications in the Personnel Department. This would be a
suitable source for temporary and lower level jobs.
Trade Unions:
Trade Unions are a reliable source as the members had always shared a certain amount of
intimacy with the union. Hence persons seeking re-employment are backed by the trade
unions.
PRESS ADVERTISEMENTS:
Advertisements of the vacancy in newspapers and journals are a widely used source of
recruitment. The main advantage of this method is that it has a wide reach
MODERN SOURCES OF RECRUITMENT

INTERNAL SOURCES
Employee Referrals:
Present employees are well aware of the qualification, attitudes, experience and emotions of
their friends and relatives. They are also aware of the job requirements and organizational
culture of their company. As such, they can make preliminary judgment regarding the match
between the job and their friends or relatives.
EXTERNAL SOURCES

Walk-in interview:
Some organizations advise the potential candidates to attend for an interview directly and
without a prior application on a specified date, time and at a specified place. This is called a
walk-in interview.
Consulting:
The busy and dynamic companies encourage the potential employees to approach them
personally and consult them regarding the jobs. The companies select the suitable candidates
from among such candidates through selection process.
Body Shopping:
Professional organizations and the hi-tech training institutes develop the pool of human
resources for the possible employment. The prospective employers contact these
organizations to recruit the candidates.
Mergers and Acquisitions:

Business alliances like acquisitions, mergers and take-over help in getting human resources.
Factors Affecting Recruitment
The recruitment function of the organizations is affected and governed by various internal
and external forces.
Internal forces or factors:-are the factors that can be controlled by the organisation.
External factors:-are those factors which cannot be controlled by the organisation.
Factors Affecting Recruitment
Internal Factors External Factors

1. Recruitment Policy 1. Supply and Demand
2. Human Resource planning 2. Labor Market
3. Size of Firm 3. Image/Goodwill
4. Cost 4. Political-Social-Legal
Environment
5. Growth and Expansion 5.Unemployment Rate
Internal Factors Affecting Recruitment
The internal forces i.e. the factors which can be controlled by the organisation are:
1. RECRUITMENT POLICY: The recruitment policy of an organisation specifies the

objectives of recruitment and provides a framework for implementation of recruitment
programme. It may involve organizational system to be developed for implementing
recruitment programmes and procedures by filling up vacancies with best qualified people.
Factors affecting recruitment process:
Organizational objectives
 Personnel policies of the organization and its competitors
 Government policies on reservations.
 Preferred sources of recruitment.

 Need of the organization.
 Recruitment costs and financial implications
2. HUMAN RESOURCE PLANNING: Effective human resource planning helps in

determining the gaps present in the existing manpower of the organization. It also
helps in determining the number of employees to be recruited and what qualification
they must possess.
3. SIZE OF THE FIRM: The size of the firm is an important factor in recruitment process.
If the organization is planning to increase its operations and expand its business, it will think
of hiring more personnel, which will handle its operations.
4. COST: Recruitment incur cost to the employer, therefore, organizations try to employ
that source of recruitment which will bear a lower cost of recruitment to the organization for
each candidate.
5. GROWTH AND EXPANSION: Organization will employ or think of employing more

personnel if it is expanding its operations
External Factors Affecting Recruitment
The external forces are the forces which cannot be controlled by the organisation.
1. SUPPLY AND DEMAND: The availability of manpower both within and outside the
organization is an important determinant in the recruitment process. If the company has a
demand for more professionals and there is limited supply in the market for the professionals

demanded by the company, then the company will have to depend upon internal sources by
providing them special training and development programs.
2. LABOUR MARKET: Employment conditions in the community where the organization

is located will influence the recruiting efforts of the organization. If there is surplus of
manpower at the time of recruitment, even informal attempts at the time of recruiting like
notice boards display of the requisition or announcement in the meeting etc will attract more
than enough applicants.
3. IMAGE / GOODWILL: Image of the employer can work as a potential constraint for
recruitment. An organization with positive image and goodwill as an employer finds it easier
to attract and retain employees than an organization with negative image. Image of a
company is based on what organization does and affected by industry. For example finance
was taken up by fresher MBA’s when many finance companies were coming up.
4. POLITICAL-SOCIAL- LEGAL ENVIRONMENT: Various government regulations

prohibiting discrimination in hiring and employment have direct impact on recruitment
practices. For example, Government of India has introduced legislation for reservation in
employment for scheduled castes, scheduled tribes, physically handicapped etc. Also, trade
unions play important role in recruitment. This restricts management freedom to select those
individuals who it believes would be the best performers. If the candidate can’t meet criteria
stipulated by the union but union regulations can restrict recruitment sources.
5. UNEMPLOYMENT RATE: One of the factors that influence the availability of

applicants is the growth of the economy (whether economy is growing or not and its rate).
When the company is not creating new jobs, there is often oversupply of qualified labour
which in turn leads to unemployment.

6. COMPETITORS: The recruitment policies of the competitors also affect the recruitment
function of the organisations. To face the competition, many times the organisations have to
change their recruitment policies according to the policies being followed by the competitors.
Objectives of Recruitment
To attract people with multi-dimensional skills and experiences that suits the present and
future organizational strategies.
1. To induct outsiders with a new perspective to lead the company.
2. To infuse fresh blood at all the levels of the organization.
3. To develop an organizational culture that attracts competent people to the
company.
4. To search or head hunt/head pouch people whose skills fit the company’s values.
5. To devise methodologies for assessing psychological traits.
6. To seek out non-conventional development grounds of talents.
7. To search out talent globally and not just within the company.
HR ROLES AND PROCEDURES

A Center’s HR group has a key role in developing, introducing and sustaining policies,
practices and services for accommodating spouses/partners. This role includes:
• supporting management in the development of Center policy and practices for
accommodating spouses/partners;
• advising job applicants and their spouses/partners about the availability and
application of these practices;
• exercising initiative, as much as possible, to accommodate spouses’/partners’ needs
prior to their move to the duty station;
• ensuring that high-quality advice and assistance is available to spouses/partners
during their settling in to the duty station;
• monitoring the needs of spouses/partners actively after they settle in, and acting
expeditiously to meet those needs where possible;
• providing a range of support services to spouses/partners, particularly in publicizing
employment and consultancy opportunities;
• providing support and guidance to spouse/partner committees;
reviewing the impact and effectiveness of the Center’s policy and practices periodically, and
reporting to senior management with options for future refinements
HR ROLES
RECRUITMENT
1) 1.TEST
2) 2.INTERVIEW

3) 3.SELECTION
4) 4.CHECK REFERENCE
5) 5.PREVIOUS CTC
6) 6.ENTERTAINING
7) 7.CHECK QUALIFICATION
8) 8.REPORTING TO THEIR BM/SDM/BDM
9) 9.FILL JOINING KITTS
10) 10.PREAPARING RECORD
11) PROCESS ADHERENCE
CHECK ATTENDANCE
1) PREPARING OF RECRUITMENT TRACKERS

2) MEDICLAIM UPDATION
3) INVITATION TO ALL BRANCHES
4) GROUP TERM INSURANCE
5) GIVE OFFER LETTER
6) PROVIDE BANK OPENING LETTER
7) PROVIDE ACCEPTANCE LETTER
8) PROVIDE RELEIVING LATTER
9) RECORDS OF SALARY
GREIVANCE HANDLING
1) EMPLOYEES COMPLAINTS
2) PROVIDE SOLUTION
3) MAILS TO HO
4) PROVIDE INFORMATION ABOUT ANY PREVIOUS EMPLOYEES
5) UPDATE THE DATA
6) TAKING IMMEDIATE ACTION
7) RESOLVE THE PROBLEM

EMPLOYEE ENGAGEMENT
1) ORGANISE FUN SESSION
2) FUNTOSH
3) SAMOSA DAY
4) FUN FLIPS DAY
5) CELEBRATE ON EVERY FESTIVAL
6) GIVE INFORMATION ABOUT NEW SCHEMES

CHAPTER 3 I NTRODUCTION OF COMPANY
INTRODUCTION
HDFC Standard Life Insurance Company Limited. is one of India's leading private insurance
companies, which offers a range of individual and group insurance solutions. It is a joint
venture between Housing Development Finance Corporation Limited (HDFC Limited),
India's leading housing finance institution and a Group Company of the Standard Life Plc,
UK. As on February 28, 2009 HDFC Ltd. holds 74% and Standard Life (Mauritius Holding)
2006, Ltd. holds 26.00% of equity in the joint venture, while the rest is held by others.

Insurance Density
Pre m ium s pe r capita (USD)
for the ye ar 2000
Country Life Non Life Total
United States 1611.4 1540.7 3152.1 Year Life Non Life Total
Canada 757.2 759.6 1516.8
1996 1.29 0.55 1.84
Sw itzerland 2583.3 1570.6 4153.9
United Kingdom 3028.5 730.7 3759.2
1997 1.39 0.56 1.95
Japan 3165.1 808.2 3973.3 1999 1.39 0.53 1.93
South Korea 935.6 298.5 1234.1 2000 1.77 0.55 2.32
Hong Kong 892.9 269.1 1162
Malaysia 86.4 64.6 150.9
India 7.6 2.3 9.9
Insurance penetration in India

(premium as a % of GDP) Penetration- India In
sured
80% Uninsu
red
Source - Swiss Re’s Sigma Report 20%

HDFC PRODUCTS
SECURITISATION
Future Activities
DISTRIBUTION HDFC CHUBB

GENERAL INSURANCE
CO. LTD.
. Customer base of over 2 million
• Stable and experienced management

• India’s largest housing finance institution
• Asset base over Rs. 100 billion

• International presence through service associates
• Highest Corporate governance rating AAA
from CRISIL and ICRA

Standard Life Assurance Company
• Europe’s largest mutual life assurance company founded in 1825

• AA2 rated by Standard & Poor’s and Moody’s
• Voted the ‘Company of the Decade’
• Total assets under management

Rs. 5,81,000 crore
Why HDFC Standard Life ?
Brand Value & Recognition of the partners
First Private Life Insurance Company
First Company to Declare Bonus
Robust operations & distribution back ups
Presence in over 100 locations - largest branch network
Market Share of 13.5 %
Insures one life every 3 minutes
Total Winner of Outlook Money 2003 & 2004 award as
‘Best New Insurer’
Rated as India’s Most Respected Private Insurance Company by Business world magazine
(2004)

Objectives
– State the benefits of selecting the right company
– Enlist the parameters of selecting a life insurance company

– List strengths of HDFC, Standard Life & HDFCSL
– Draw organization structure of HDFC SL as well as Retail Team
– Describe your role as Sales Development Manager
HISTORY
HDFC STANDARD LIFE INSURANCE HOUSING DEVELOPMENT FINANCE

CORPORATION LIMITED (HDFC)
Founded in 1977, HDFC is today the market leader in housing finance in India and
has extended financial assistance to more than 15 lakh homes. HDFC has more than 110
offices in India presently. It also one international office in Dubai and 3 Service Associates
in Kuwait, Qatar, and the Sultanate of Oman. HDFC’s asset base amounts to over Rs. 28,000
croes. Its financial strength is reflected in highest safety ratings of ‘FAAA’ and ‘MAAA’
awarded by CRISIL and ICRA – two of India’s leading credit rating agencies – respectively,
for the last 6 years consequently. It has a depositor base of over 11 lakh customers and a
deposit agent’s force of over 46,000 of the total deposits, 73% are sourced from individual
and trust depositors. Which demonstrates the tremendous confidence that retail investors
have in the company.
Being an institution that is strongly committed to the highest standards of quality and
excellence, HDFC has won several accolades in the past few years such as “ Ramakrishna
Bajaj National Quality Award” for the year 1999, this award was instituted to award
recognition to Indian companies for business excellence and qualify achievement HDFC is
the only company so far to receive this award.

STANDARD LIFE ASSURANCE COMPANY
Founded in 1825, Standard life has been at the forefront of the UK insurance industry
for 176 years by combining sound financial judgment with integrity and reliability. The
largest Mutual life Company in Europe, it has operations in the United Kingdom, Ireland,
Spain, Germany, Austria and Canada with representative offices in Hong Kong and China.
One of its most recent successes was the launch of Standard Life Bank on 1 st January,
1998. The introduction of its innovative mortgage product in January 1999 has an immediate
impact on the UK market, accounting for 11% of all new lending within the first operational
year. The current loans understanding amount to Rs. 43,300 crore.
Standard Life has total assets of Rs. 5, 95000 crore and new premium income last
year of Rs. 30,000 crore. Its UK investment portfolio accounts for approx 2% of all shares
listed in the London Stock Exchange. It is one of the few insurance companies in the world
to receive AAA rating from two of the leading international credit rating agencies. Moody’s
and Standard Z& Poor’s. The later described Standard Life’s ability to meet its claims
obligations as overwhelming under a variety of economic conditions.
Standard life is rated as one of the strongest companies of the world, in financial terms. The
company’s reputation in the UK market remains unrivalled. Besides, being voted ‘company
of the year’ for overall service, for the third consecutive year, Standard Life was recently
voted ‘ Company of the Decade’ by independent brokers.

Incorporation of HDFC Standard Life Insurance Company Limited
The company was incorporated on 14th August 2000 under the name of the HDFC
Standard Life Insurance Company Limited. On the 23rd of October 2000, HDFC Standard
Life was the only life company to be granted a certificate of registration.
HDFC are the main shareholders in HDFC Standard Life, with 74.4% while standard
Life owns 18.6%. Given standard Life’s existing investment in the HDFC Group, this is the
maximum investment allowed under current regulations.
VISION AND VALUES OF THE COMPANY
Vision Statement
“The most successful and admired life insurance company,

which means that we are the most trusted company,
the easiest to deal with, offer the best value for money
and set the standards in the industry.
In short, “ The most obvious choice for all”.
Integrity
Innovation
Values

Customer Centric
Joy & Simplicity
Team Work
People Care
One for all & all for one
Achievements
Rated ‘Best New Insurer – 2003’,
by Outlook Money
Declared bonusInitiated Anti-rebating issues with IRDA,
resulting in introduction of new guidelines
for 4 consecutive years since inception
Awards & Accolades
* India’s best managed company by Asia money magazine - 1995 and 1996
* Most competitive Indian company by Euromoney - 1997
* One of the 5 best Indian Boards by Business Today -1997
* Best presented accounts 1994-95 and 1996-97 (3rd place) - in the SAARC region by
the South Asian Federation of Accounts in the financial sector category
* Rated as one of the best companies in India for strategy & management and investor
relations by Asia money - 1998
* Excellence in service industry by the Indian Institute of Marketing Management &
Top Management Club (Pune) -1998

* Shield for the best presented accounts for banks and financial institutions - over 11
times (8 years in a row)
* 1999 IMC Ramakrishna Bajaj National Quality Award in the service category
* CII-EXIM Bank Commendation Certificate for commitment to Total Quality
Management - 2000
* Asia money declared HDFC as the second best managed company in India - 2001
* Euro money identified HDFC as one of Asia’s top 10 best managed companies in the
finance sector - 2001
* Rated as the Best Non-Banking Financial Company in Asia by Institutional Investor
Research Group - 2002
The Retail sales Hierarchy of HDFC Standard Life Insurance
General Manager
↓
Head Retail Sales
↓
Regional Branch Manager
↓
Business Development Managers
↓
Certified Financial Consultants


CEO OF THE COMPANY
Mr. Deepak S. Parekh
Is the Chairman of the Company. He is also the Executive Chairman of

Housing Development Finance Corporation Limited (HDFC Limited). He
joined HDFC Limited in a senior management position in 1978. He was
inducted as a whole-time director of HDFC Limited in 1985 and was
appointed as its Executive Chairman in 1993. He is the Chief Executive
Officer of HDFC Limited. Mr. Parekh is a Fellow of the Institute of
Chartered Accountants (England & Wales).

Mr. Paresh Parasnis is the Principal Officer and Executive Director of the
company – HDFC SL
LIST OF DIRECTORS
Sir Alexander M. Crombie

Mr. Keki M. Mistry
Ms. Marcia D. Campbell
Ms. Renu S. Karnad
Mr. Norman K. Skeoch
Mr. Gautam R. Divan
Mr. Ranjan Pant
Mr. Ravi Narain
Mr. Gerald E. Grimstone

SWOT Analysis OF HDFC SLIC
STRENGTHS WEAKNESSES
• Strong Brand Image • Rigid Eligibility Criteria
• Dedicated sales team • Weak Customer Relations
• Value added services. Management
• Centralized Structure
• Less motivated to fc’s
OPPORTUNITIES THREATS
• Large Untapped Market. • Presence of very strong competitors.
• Distinguishable product (children • Aggressive marketing by
plan). competitors.
• More demand for insurance • Various investment Schemes

ROLE OF GREEN PAGE
GREEN PAGE
Green page is the important document of the company. On a green page you can access the
different tools. Green page is very important because employees of the organization can take
any type of information through the green page. Green page is the connected through the
intranet in the organization. You can check anything related to the employees like fc,sdm can
mark their attendance in empower. Every employees can check their salary details.
EXAMPLES
EMPOWER
USER NAME :YOUR EMPLOYEE NO.
PASSWORD : Default password for first time users is adnet 2003

Your problem period will be of three months from the date of joining the services .
Post that you will be assessed for confirmation by your immediate superior.your
IN EMPOWER
Mark you attendance/attendance regularization.

View your attendance record for the current year.

Give your leave request.
Take a record of your leaves taken in the past.
Mark your appraisal for the year.
You can avail three types of leaves during the year post your confirmation.
.CL : Casual leave 8 leaves per calendar year
.SL: Sick leave 15 leaves per calendar year
PL: Previlege 30 leaves per calendar year

CASUAL leaves lapse at the end of each calendar year and will not be reward for
accumulations.
MY COMPENSATION MANAGEMENT
Under this head you can a-----

View your pay slips for previous months.
Update your salary account no with specified
Bank of the organization.
View your pf statement
Declare your tax saving options for the current financial year.
View your tax deduction done so far the previous year.
View and download form 16 for previous year after spending at least one year in
organization.
View your eligibilities on leave travel allowance as well as domiciliary mediclaim
allowance.

INTRODUCTION ABOUT FINANCIAL CONSULTANT
DEFINITION OF AN FINANCIALCONSULTANT
Section 182 of Indian Contract Act 1872 defines an FC as under
– person employed to do any act for another or to represent another in
dealing with a third person

• The person on whose behalf the FC works is called Principal
. Principal is bound by the actions of the FC
WHAT GOVERNS INSURANCE FC?
Contract act 1872
Insurance act 1938
IRDA ACT
1999
Agency appointment
letter issued by the
company
WHY INSURANCE IS A PROFESSION?

EXPERT
KNOWLEDGE
CODE OF
NOBLE
CONDUCT
PROFESSION
Mr. Paresh Parasnis is the Principal
Officer and Executive Director of the company

BENEFITS OF INSURANCE AGENCY
Independent
work
No investment
No fixed
Economic rules of
security work
Agent is
his own No
‘paymas forwarding
ter’
INSURER AS THE AGENT’S SPONSOR
The Insurer:
• Develops agency by sponsoring training of agents whom he wants to license

• Issues license through a designated person

Designated Person:
An officer normally in charge of marketing operations as specified by an insurer, and
authorized by IRDA to issue or renews licenses
LICENSING OF FC
• Covered under IRDA (licensing of Insurance Agents) Regulations, 2000
• Criteria to become an agent laid down
• Training requirements specified
• Licensing & renewals by designated person only
• To be composite insurance agent, two separate applications required
CRITERIA FOR BECOMING AN INSURANCE

FINANCIAL CONSUTANT
• Age > 18 years

• Educational Qualification
– At least 10th standard (population of <5000)
– At least 12th standard (population >5000)
• Sound Mental Health
TRAINING REQUIREMENT FOR FC
IRDA Specifications:
• 50 hours in life / General Insurance
• For Composite Agent, at least 100 hours of practical training in life and general
insurance business combined
• Training to be conducted by an Institute approved and notified by IRDA
• Training requirement reduced to 50% for those with qualification such as CA, MBA,
Associate/Fellow of Insurance Institute of India etc.
PRE-RECRUITMENT TEST
To become an FC, the person

• Must qualify Pre-Recruitment Test conducted by body recognized by IRDA
• Permitted to take test only if he has completed required number of hours of training
• Must obtain at least 50% marks to pass the Pre Recruitment Test
LICENSING PROCES
. Designated person issues license along with identity card valid for three years
license fee is Rs. 250
• For renewal of license, agent must undergo additional training for 25 hours
Designated person takes decision to renew license or not
• Application for renewal of license to be made at least 30 days before expiry of license
otherwise additional fee of Rs. 100 payable
CORPORATE FINANCIAL CONSULTANT
• A Firm, a Company, Co-operative society, Panchayat, or Local Authority can be

Corporate Agent and work for one Insurance Company
Designated partner or Director or any Officer designated as Corporate Insurance Executive to

undergo training and pass the test
INSURANCE BROKERS
• Broker is a new channel of distribution of insurance products.

• While agent represents insurer, broker represents the client

• Broker to meet certain Capital criteria
• Broker can recommend to their clients product of any Insurance Company

• Brokers have to undergo 100 hours training and pass the test
• License to insurance brokers issued by IRDA
• Three types of brokers – Direct Broker , Re-insurance Broker, Composite Broker
TERMINATION OF AGENCY
Agency can also be terminated if Agent acquires any legal disqualification

such as -
- Found to be minor
- Found to be of unsound mind
- Conviction for criminal misappropriation
- Criminal breach of trust
- Cheating or forgery
ROLE OF CONSULTANT IN UNDERWRITING
He submits a confidential report with each proposal form about health habit and income of
the proposer
CODE OF CONDUCT FOR FC
- Not to interfere the proposal introduced by other agent
• -Not to demand or receive a share in claim amountThe Regulations prescribe a Code

of Conduct for Agents
• The Code states that Agent shall identify himself and the insurer he represents

• Do’s for Agents as per Code of Conduct

– Show the licence if prospect demands
– Explain all the options available to the client
– Recommend a plan suitable for client’s needs
– Disclose the commission he gets if enquired by the client
Explain the nature & importance of information in the Proposal Form. Impress upon the
client to disclose all information fully & truthfully
Make all enquires about the prospect
Inform insurer about anything material or habits which can affect underwriting decision
Inform the client about acceptance / rejection of risk
Help clients to comply with the requirements asked for by the insurer
Advise policyholder to effect nomination / change etc.
Ensure remittance of premium by the policyholder on due dates by notice orally or in writing
Dont’s for Fc as per Code of Conduct
- Not to induce the client to give wrong information
-Not to ask the policyholder to discontinue existing policy and to take new one.
WHY WAS IRDA ESTABLISHED?
TO REGULATE, PROMOTE & ENSURE

ORDERLY GROWTH OF LIFE
&
GENERAL INSURANCE INDUSTRY
IRDA MEMBERS
Members are appointed by Central Govt.
CHAIRPERSON

WHOLETIME MEMBERS TENURE 5 YEARS

PART TIME MEMBERS
Why CFC and not an FC
‘Certified’ because - a governing body of the insurance segment
called the IRDA certifies you ‘Financial consultant’ because –
We believe you need to advice and recommend
the best solution to meet a client’s financial requirement.
Commission Structure of finanacial

consultant
Rate of commision
Type of Plan First year 2nd year 3rd Year+ Bonus
Endowment 25% 5% 5% 15%
Money Back 25% 5% 5% 15%
Term Assurance (RP) 20% 5% 5% 15%
Loan Cover Term (RP) 20% 5% 5% 15%
PPP (RP) 7.50% 2% 2% NIL
SPWLP/ PPP (SP) 2% - -
ULEP 12.50% 4% 1% NIL
ULPP (RP) 7.50% 2% 1% NIL
ULPP (SP) 1%
Support and Recognition
• Top quality training initially by the company

• Support of a dedicated Sales Development Manager

• First class pre and post sales support

• Lead Generation Support
• Marketing Support
• Recognition Programs - MDRT, Top Achievers Section
• Reward Programs
Online Support
Star Performers Club
• Level 1: Star Centurion Club (upto 10% extra commission)

• Level 2: Gold Star Performers Club (5% extra commission)
• Level 3: Silver Star Performers Club (2.5% extra commission)
Club members are eligible for various privileges depending upon levels.
They can choose from an assortment of gifts ranging from mobile phones, wrist watches,
telephone answering machines, electronic diaries,
palmtops, PCs, two wheelers, ACS, holiday packages etc,
subject to maximum limit applicable to him/her.
Quizzes & Contests
• Periodic Branch Level Contests
• National Level Contests
 Prizes ranging from Foreign Trips, Consumer Durables, Mobile phones, Laptops,
Palmtops, Handy-cams, Gold Coins etc.
 All Financial Consultants who qualify for National Level gets Certificate of
Achievement from the Head - Retail Sales
• Monthly Quizzes in ‘In Touch with Life’ – an in-house magazine

• Subscription to Insurance Monthly “Insurance Watch”
Who are we looking for ?
• Committed, have the drive, determination and openness to learn.

• Professional Outloo
• Ability to sell a range of financial products
• Looks forward to meeting & interacting with people
• Have the zeal to perform & excel
• Want to be a winner in life
Are you ready for the challenge
Of any approximate Rs. 50, 000 crore

by way of premium income – in the next 5 years
at least Rs 10,000 crore is available
by way of commission only.
The pie is huge; the challenge is of to get maximum
of this pie for you.


All figures in rupees

Endowment/Money Back Type Plan
SALE DEVELOMENT MANAGER

MEANING OF SDM
These are sales developing manager. The main purpose of sdm is to recruit ,train & create
high performing fc’s to achieve salse target.
ROLES OF SDM

• SDM/BM to monitor daily progress of Trainees

– Weekly status report to be submitted by SM to the CD team
– Trainees to submit filled-up FC application forms
– Seminars for the fc
– Going with fc for increasing the business
– Give script for talking more and more business
– FC application forms to be validated by SDM/BM
• Recruitment Log-in Day

– Trainees to submit validated application forms
– Candidate ids of FC’s to be captured

SAM OF SDM
Sam is a major and most important tool to get registered your day to day activities done in
the field.
Through sam your performance will be reviewed and taken on daily basis.
NEED OF KEY POINTS
Activities performed on fc recruitment

Activities performed on business calls
FC Visit review
FC Team meetings /building
Training of FC
SDM OBJECTIVES AND STRATEGY FOR SALES FORCE

The days when all the sales force did was "sell, sell, and sel1" are long gone. Sales reps need
to mow how to diagnose a customer's problem and propose a solution. Salespeople show a
customer-prospect how their company can help a customer improve profitability.
Companies need to define the specific objectives they want their sales force to achieve, For
example, a company might want its sales representatives to spend 80 percent of their time
with current customers and 20 percent with prospects, and 85 percent of their time on
established products and 15 percent on new products. The specific allocation scheme
depends on the kind of products and customers, but regardless of the selling context, sales-
people will have one or more of the following specific tasks to perform:
• Prospecting. Searching for prospects, or leads.
• Targeting. Deciding how to allocate their time among prospects and customers.
• Communicating. Communicating information about the company's products and
services. .
• Selling. Approaching, presenting, answering questions, overcoming objections, and
closing sales.
• Servicing. Providing various services to the customers consulting on problems,
rendering technical assistance, arranging financing, expediting delivery.
• Information gathering. Conducting market research and doing intelligence work.
• Allocating. Deciding which customers will get scarce products during product
shortages.
Because of the expense, most companies are moving to the concept of a leveraged sales
force. A sales force focuses on selling the company's more complex and customized
products to large accounts, while low-end selling is done by inside salespeople and
through Web ordering. Tasks such as lead generation, proposal writing, order
fulfillment, and postsale support are turned over to others. Salespeople handle fewer
accounts, and are rewarded for key account growth. This is far different from expecting
salespeople to selling every possible account, which is usually the weakness of
geographically based sales forces.

FLAG OF SDM
FAQ for Launch of FLAG 0607 1/6 FLAG 0676
FLAG – 0607
FAQ and Guideline Sheet
1. From when FLAG 0607 is effective
A FLAG 0607 is effective April 06
2. What does the program offers to the front line sales
A An opportunity to
 Scale up in the sales hierarchy
Increase in CTC
G
 et recognized for his achievements
3. What are the new features of the program?
a) Target cycles of 9 month
b) 4 Cycles of targets thus 4 opportunity months
c) Early achievers will be rewarded early – Faster the better
d) Higher reward to high performers
e) LEAP targets included in the program
4. Which are the Measure of performance for which the targets are been incorporated in
the program?
A The program focuses on three business targets:
- RNEP
- Active FC count
- Team size of FC
5. How is RNEP calculated
A RNEP calculation rules would be similar to the one applied for RNEP calculations of
sales incentive scheme
6. What is Active FC for the FLAG program

A An FC would be considered active once he has one new conversion (new business) in
the month.
FAQ for Launch of FLAG 0607 2/6 FLAG 0676
7. When does the program starts and ends?
A The program starts with 1st target cycle. The duration of the target cycle is nine
months.
If any of the FLS has achieved all the MOPs then we would be taking a waiting period
of one month for reconciling possible look ins / Cancellations happening of the policies.
CHANNEL DEVELOPMENTMANAGER
Objective
Primary
• To leverage the Trainees resource for Financial Consultant Recruitment and thereby
beefing up the sales force
Secondary

• To provide the trainees with valuable ‘On-Job’ training with an opportunity to ‘Earn
while you Learn’ with regular stipend and an Incentive Scheme
• Promoting their communication/networking /convincing skills – equipping them with

experience pre-requisite for any sales related job
The Process
• Channel Development to select Project / Management Tainees from Business schools

or referred by SM’s
• CD team will give basic training / handholding to the trainees on recruitment and give
each trainee a weekly target for Project reports
• Arrange training Seminar with Training Team for product Knowledge
• The Project trainees will pitch an opportunity for a ‘Business Partner’
• Weekly review on problems / feed back session with Branch Manager / CD Team
Role and Responsibilities of
CD Manager
Role Profile - CD Manager
KRAs – CD Manager
Targets per CD Manager
Confirmation Grid – 6 months
Recruitment Activity Monitor (RAM)
Daily-Weekly-Monthly Work Check-List

Support Functions
 1. Role Profile – CD Manager
Direct Responsibilities
1.Team Building
Resources Recruitment (RC,PT,E2E Vendor,RP)
2.Training & Induction
Training Program for Your Resources
• Joint Field Work with Resources
 3.Planning & Implementation of Lead Generation Activities.
• Min One BOP per Week

 • Canopy
 • Road Shows
 • BTL Activity
4.Resource Motivation and Drive.
• One Vendor Review meet per Week ( Channel Development Manager to Review)
• One Vendor Meet per Month( AM-CD to Address)
• Felicitation & Rewards to top performers
5.IRDA Training & Examination
• FC 50 Hrs Training Tracking through LC & RC’s.
• IRDA Examination Tracking through LC & RC’s and increasing I/O Ratio.

6.MIS & Documentation
• Documentation Contracts & Payment Modes of Vendor
• MIS on Recruitment & Licensing Of FC BM/TM wise
Keeping an Eye on first Business track,activisation through LC and HO Biz Update.
7.Relationship Management at Local Level
 Regular Branch Visits

 Relationship Management( RM,TM,BM,SDM & Ops)
 Allocation of FC’s through TM/BM Retail
 FC Recruitment, Licensing & Business Updates to Retail functions
 Updating Ops-Agency Coordinator on Process Changes
8.Checking Quality Parameters
 Q Score
 Q Score >3 is not allowed
 FC Pre Login Interview Sheet
 Fulfillment of RI documents
9.Recruitment Activity Monitor

 Ensure you update RAM daily
 100 % adherence
 2. KRAs – CD Manager
KRA Weightages for Channel Development Manager

Output /
Weightages Input
SN KRA / Sub - KRAs
Based
CDM
1 FC Recruitment 50% Output
2 FC Licensing 25% Output
3 I/O Ratio 15% Output
4 Following Recruitment Activity Monitor (RAM) 10% Input
TOTAL 100%
CHAPTER 6 OBJECTIVE OF STUDY
To know the recruitment process

To study various sources of recruitment

To know the selection criteria

To study the sources and process of recruitment
To study the advantage and disadvantage of internal and external recruitment according to
the employee of hdfcslic
To study the satisfaction of employee regarding the company ‘s recruitment
CHAPTER 6 RESEARCH METHODOLOGY
RESEARCH
Research means a search for knowledge or gain some new knowledge and methodology can
properly refer to the theoretical analysis of the methods appropriate to a field of study or to
the body of methods and principles particular to a branch of knowledge . A research
methodology has a specified framework for collecting the data in an effective manner.
Research methodology means “defining a problem, defining the research objectives,

developing the research plan, collecting the information analysing the information and
presentation of findings.” Such framework is called “Research Design”.
The research methodology used by me for the purpose of this project is as follows:-
Research Design:- The research design –here for this project is a combination of exploratory
and explanatory designs.
The very first step is the reorganization of various type of information which is necessary for
the study of performance system. Then a personal interaction with the people concerned is
made to figure out the results.
Data collection method:-According to this project, I pursed primary and secondary data
collection method.
a) Primary Data
b) Secondary Data
Primary Data
Primary data is a data which did not exist earlier and is being collected by the researcher first
time for its specific objectives. In other words, direct collection of data from the source of
information, technology including personal interview, telephonic interviews ,observation,
Questionnaire and through schedules.
Secondary data
Any data which have been collected earlier for some purpose are the secondary data. Indirect
collection of data from sources containing past or recent past information like bank’s
broachers, annual publication, books etc.
Secondary sources are:
Text books

Internet sites
News papers articles
Broachers
I have used web sites, some publications on the net, human resource manuals of Sebiz
Infotech, text books for secondary data collection
SAMPLING
1. Sampling
Sample is a group of few items which represents the population or universe from where it has
been taken. The sampling plan calls for three decisions;
a) Sample unit
b) Sample size
c) Contact methods
Sample Unit- who is to be surveyed?
It is necessary so as to develop a sample frame so that everyone in the target population has
an equal chance of being sampled . I have completed my survey in HDFCSLIC
Sample Size –how many people have to be surveyed?

Generally, large sample size given more reliable results than small samples. The samples
consisted of 30 respondents.
Contact methods

Once the sampling plan has been determined by the contact i.e.by the telephone interview ,
personal interview ,observation, mail etc.
My sampling design is based on simple random sampling because each element gets
probability to be included 7 all choices made are independent of each other.
After this I have collected the information from the respondents with the help of
Questionnaire.
Data analysis & Interpretation:-
Questionnaire:- the questionnaires are given to respondents and he/she is free to provide the
information whatever the concern is. One thing that is important that is it is not included the
name, address etc,
Direct interview: - the direct interviews are one up against all the data collection tools just
because one can judge that what a person is telling to the surveyor. It is time consuming.
Tools and Techniques of analysis:-
The data collected from different sources has been classified and arranged in tables in one or
more forms according to the requirements of analysis. For the analysis of results the
following techniques has been applied.
Tools and Techniques:-

• Tabular Analysis.
• Simple Statistical Techniques.
• Graphical Representation.

• Trend Percentage.

CHAPTER 7 INTRODUCTION
ABOQUESTIONNAIRE,SUGGESTION,CONCLUSION
,LIMITATION
Recruitment Questionnaire
The information supplied will be kept confidential and used for correct purpose only. Please tick the
answer which you find best.
Name ……………………………… Education Qualification …………………………
Age ……………………………….... Designation …………………………………………..
1. What do you understand by recruitment?
The process of searching for prospective employees and stimulating and encouraging them to
apply for job in the organization
Recruitment is a linkage activity bring together those with jobs and seeking jobs
The process of developing suitable techniques for attracting more and more candidates.
2. Which Sources of recruitment is followed?
Internal External
3. Do think test take during recruitment process match with your Job Profile
Yes No Not applicable
4. Do you think the test is the only Soul or Core basis of selection?

Yes No
5. What type of behavior of interviewer?
Positive Negative
6. What attracted you the most initially?
Content of Job Hours of work
Promotion opportunity Salary
Size of organisation Location
Others (Please state)
7. If you were considering relocation to Chandigarh, what factors attracted you?
Opportunities for family members Low Crime rate
Cost of Living Housing
Others (Please state)
8. Which Types of interview Process is followed during your interview?
Informal interview Formal interview
Group interview Panel Interview

9. Time within which feed back received?
On the Support
In 24 Hours
Within week
10. Are you place on right Job?
Yes No
11. How the sources of information are known to you?
By internet
By Newspaper
By Television advertisement
By Employees of company
12. What are the criteria for placement?
High Scores in Academic career Communication skills
Job experience All of the above
13. Are you satisfied with recruitment Procedure?
Yes No NO

5.1 What do you understand by recruitment?

This question is framed to know the meaning of recruitment according to the company’s
employees. For this purpose three statements are given to the respondents and they have to
select one of them which show a better meaning of recruitment according to them. The
results of the respondents are shown following with the help of table no 5.1 and figure.
Sr.No Statements No of respondent Percentage

1
The process of searching for prospective employees and stimulating and
encouraging them to apply for job in the organization 16 53%
2 Recruitment is a linkage activity bring together those with jobs and 35%
seeking jobs
10
3 The process of developing suitable techniques for attracting more 4 12%
and more candidates

Findings: as inferred from the above table 53% of the respondents consider the process of
searching for prospective employees and stimulating and encouraging them to apply for job in the
organization and 35% of respondents consider the recruitment is a linkage activity bring together
those with jobs and seeking jobs and 12% consider it as the process of developing suitable
techniques for attracting more and more candidates.
Analysis: Most of the respondent consider the recruitment as the Process of searching for the
Prospective employees and stimulating and encouraging them to apply for jobs in the organization
5.2 Sources of Recruitment : Recruitment means to search the prospective employees for
the organization and stimulate them to apply for job. It is observed from the table 5.2 that
Q. Which Sources of recruitment is followed?
Sources of Recruitment- Respondents View
Sr.no Nature of response No of respondents Percentage

1 Internal 11 18.92
2 External 19 81.08
3 Total 30 100



5.2. Test take during recruitment process match with your Job Profile: Table and fig 5.2 depicts
that 15 employees are satisfied that test taken during recruitment process match with job profile and 5
are not satisfied
Q. Do think test take during recruitment process match with your Job Profile
Table 5.2
Sr.no Nature of Respondents No of Respondents Percentage

1 Yes 15 47.34
2 No 5 17.66
3 Not applicable 10 35.00
4 Total 30 100

5.3 Selection It is evident from the table and fig 5.3 that 30 respondents i.e. 100% think
that test is not the core basis of selection.
Q.Do you think the test is the only Soul or Core basis of selection
Table 5.3

1 Yes 0 0
2 No 30 100
3 Total 30 100

5.4 Behavior of Interviewer
Q. What type of behavior of interviewer?

Table 5.4

1 Positive 24 80
2 Negative 6 20
3 Total 30 100

5.5 Initial attraction Table and fig 5.5 depicts that contents of job attracts most of persons
initially
Q. What attracted you the most initially
Table 5.5
Sr.no Nature of Respondents No. of Respondents Percentage

1 Content of Job 19 62.5
2 Hours of work - -
3 Promotion opportunity - -
4 Salary 8 25
5 Size of Organization - -
6 Location 3 12.5
7 Other - -

5.7Interview: Candidates who have successfully cleared the test are called for an interview.
The entire responsibility for conducting the interview lies with the HR department i.e. they
look after the panel of interviewers, refreshments, informing candidates etc.
Q Which Types of interview Process is followed during your interview?
5.7Table
Sr.no Nature of Respondents No. of Respondents Percentage

1 Informal Interview 0 0
2 Formal Interview 15 50.0
3 Group Interview 7 23.3
4 Panel Interview 8 26.7
5 Total 30 100

5.8Time within which feed back is received
Table5.8

Sr.No. Nature of Respondents No.of respondents Percentage
1. On the Spot 15 50
2. Within week 5 20
3. In 24 hours 10 30

Q. Are you place in right job?
Table5.9
Sr.No. Nature of respondents No. Of respondents Percentage
1 Yes 21 70
2 No 9 30
3 Total 30 100

Q. How the sources of information are known about the vacancy of the company?
Table5.10

1 Internet 19 62.5
2 Word of mouth 8 25
3 Newspaper 3 12.5
4 Total 30 100

Q. What are the criteria for Placement?
Table5.11

1 High score in academic O 0
2 Job experience O 0
3 Communication skills O 0
4 All of the above 30 100

5.12 Recruitment Policies : Recruitment polices are clearly communicated in the

organization
Table5.12
1 Yes 30 100
2 No 0 0
3 Total 30 100

5.13 Satisfaction regarding recruitment procedure: Recruitment means to search

prospective
Employees for the organization and to stimulate them to apply for job . It is evident from
table
and figure5.13 that 27 respondents i.e. 92.5 % showed their satisfaction over the recruitment
Procedure
Table 5.13


1 Yes 27 92.5
2 No 3 7.5
3 Total 30 100
Conclusions
• Most of the respondents considers the recruitment as the processof

searching for the prospective employees and stimulating and encouraging
them to apply for jobs in the organisation.
• Most recruitment is done as and when required by the company.
• Interview is the most important technique followed by the company for
selecting the employees followed by the skill test and reference checks.
• Interview should be main criteria for selection besides checking the
qualification and most past experience.
• Most of the respondents consider that external sources of recruitment lead to
insecurity among the existing employees besides demotivating them.
• Most of the respondents consider promotions as the most important sources

of recruitment .
• Most of respondents consider advertisement as the ,most popular external
sources of recruitment available with their company and internet is least
popular.
• Most respondents consider internal sources of recruitment act as a
motivational technique and are economical.
• Most of the responpondents consider flow of new talent , skill , and
Knowledge as the main advantage of external sources of recruitment.
• Most of the respondents consider cost as the most important factor for
recruiting the candidates.
• Mostly Intelligence and aptitude test are conducted while recruiting the
candidates where as interest test and achievement tests are not very
common.
• Most of respondents are satisfied with the recruitment policy.
• Mostly Recruitment Policy is amended as and when the need arises.
Limitations of study
• The study suffer from certain limitations, which are given below, so that the
finding of the study may be concluded in the right perspective.
• The overall sample was restricted to the staff members.
• Bias on the part of respondents to provide the informantion.
• Sample size is too small.
Time factor was one of the constraints in conducting the research


FC SDM CDM
Financial consultant of the Sales developing manager Channel

company Of the company developing
manager of
the company
Lower than sdm & cdm Higher than the fc &lower Higher than
than cdm fc & sdm
Apponted by cdm/bm Appointed by hr Appointed by

bm/hr/tm
Main purpose more and Main purpose is to motivate to More and
more sales taking the sale more fc
recruitment
Commission+incentives Salary+incentives+bonuses Salary
+incentives+
bonuses

Suggesion

A recruitment policy should integrate organizational needs and employee needs

A recruitment policy should be flexible enough to meet the changing needs of the
organization
Recruitment policy treats all employees fairly and equitably in all employee relationships
Recruitment procedure selected should be cost and time benefiting
The interview procedure should be satisfying. Their should be a friendly
Atmosphere while taking the interview and far as possible there
Should be no bias in the mind of interviewer
Tests should be conducted as they help to reduce bias in recruitment
And in a better maching of candidate and the job

BIBLIOGRAPHY
1-www.hdfcslic.com
2-www.hdfc.com
BOOKS
Gupta CB Human resources management

Bratton john, gold Jeffery; Human resource management
Venkataratnam C.S.and srivastava B.K;Human resource
management



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Recruitment of FC, SDM, CDM

SUMMER TRAINING REPORT

Recruitments of financial consultant Sales Development manager,

SUBMITTED TO PUNJAB UNIVERSITY, CHANDIGARH

A Project Report submitted in partial fulfillment of the requirements for the

MASTER OF BUSINESS ADMINISTRATION COMMERCE

MASTER TARA SINGH MEMORIAL COLLEGE 1

MASTER TARA SINGH MEMORIAL COLLEGE 2

I have done my summer training HDFCSLIC STANDARD LIFE. In whole work of my

MASTER TARA SINGH MEMORIAL COLLEGE 3

MASTER TARA SINGH MEMORIAL COLLEGE 4

CHAPTER 1 INTRODUCTION ABOUT INSURANCE 6-8

MASTER TARA SINGH MEMORIAL COLLEGE 5

3) WHAT INSURANCE IS PROFESSION

1) Meaning of Channel Development Manager..

MASTER TARA SINGH MEMORIAL COLLEGE 6

CHAPTER 1 INTRODUCTION ABOUT INSURANCE

BRIEF HISTORY OF HDFC SLIC

Insurance started with Marine Insurance

WHAT IS INSURANCE & HOW IT WORKS?

. Insurance is primarily a risk sharing device

• Loss must be unbearable by one and bearable if shared by the community

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• Insurance compensates for the loss, that too not fully

• Provides security to the family

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Chapter 2 : INTRODUCTION ABOUT RECRUITMENT

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A company or a firm in need of a limited number of manpower is bound to attract a huge

1. Insourcing or Outsourcing: Companies recruit the candidates, employ them, train

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a view to provide the human resource to other companies which concentrate on

Process of Recruitment in HDFCSLIC

Recruitment process passes through the following stages:

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7. Evaluating the effectiveness of recruitment process. It consists of five elements namely

The sources of recruitment:

TRADITIONAL SOURCES OF RECRUITMENT

Present Permanent Employees:

Present Temporary or Casual Employees:

Retrenched or Retired Employees:

Dependents of Deceased, Disabled, Retired and Present Employees:

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Private Employment Agencies/Consultants:

Public Employment Exchanges:

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MODERN SOURCES OF RECRUITMENT

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Mergers and Acquisitions:

Factors Affecting Recruitment

External factors:-are those factors which cannot be controlled by the organisation.

Factors Affecting Recruitment

Internal Factors External Factors

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1. Recruitment Policy 1. Supply and Demand

2. Human Resource planning 2. Labor Market

3. Size of Firm 3. Image/Goodwill

Internal Factors Affecting Recruitment

1. RECRUITMENT POLICY: The recruitment policy of an organisation specifies the

 Personnel policies of the organization and its competitors

 Government policies on reservations.

 Preferred sources of recruitment.