PROJECT REPORT

ON

A STUDY OF HIRING AND RECRUITMENT PROCESS

AT

MAXLIFE INSURANCE PVT. LTD.

SESSION:

2020-2022

SUBMITTED TO- SUBMITTED BY-

NMIMS University Robin Jain
SAP ID:
77220202745
 ACKNOWLEDGEMENT

The project Title “A STUDY OF HIRING AND RECRUITMENT PROCESS AT MAXIFE

INSURANCE COMPANY LTD” has been conducted by me for the fulfilment of my course.

My project work has been successfully accomplished due to cooperative efforts of many people.

I am deeply indebted to my mentor for their precious & illustrious guidance offered.

Their inspiring guidance had always encouraged me and boosted my morale and without them the
project could have not been a success.

At last, but not the least, I feel indebted to all those persons and organization which have helped in the
successful completion of their study.

1
 PREFACE

The research on “STUDY OF HIRING AND RECRUITMENT PROCESS AT MAXLIFE

INSURANCE COMPANY PVT. LTD.”

This study is focused on hiring different people depending on their abilities, talents, and other needs
recognised by the firm itself.

The term "recruitment and selection process" refers to the steps taken by organisations to create a
pool of candidates who are appropriate for the position at hand and support the objectives of the
organisation.

Because so many individuals in the business world utilise and rely on technology, it is crucial for
organisations to stay relevant by employing both web-based application techniques and scientific
exams to draw in the finest candidates for the position.

These both have advantages and disadvantages when utilised in the recruiting and selection process,
but with certain adjustments, they would help organisations even more to recruit the best candidates
for the position.

These both have advantages and disadvantages when utilised in the recruiting and selection process,
but with certain adjustments, they would help organisations even more to recruit the best candidates
for the position.

The main goal of a recruiting and selection procedure is to assemble a talent pool of candidates that
are qualified for the open position.

They are advantageous to include in a recruitment and selection process for a number of reasons.

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The process of selecting employees and registering them to fill available positions in the company is
referred to as recruitment.

The process is used to identify potential citizens who are qualified to do a specific task. The
selection process looks for the best candidates for the job.

On the other hand, selection is a method of choosing people by vetting them against certain criteria.
Since it takes place first when employing new employees, selection is known as the initial phase or
first step of employment.

Additionally, there are no predetermined criteria for the selecting process. An organization's
recruitment methods aim to find qualified candidates who are a good fit for the company (Ahmad &
Schroeder, 2002).

It is a very complicated process that must be completed correctly or the organisation could face
significant costs.

This is acknowledged by (Pets, 1997), who also emphasises that HR managers are continuously
seeking for strategies to grow and sustain performance within the organisation due to the increase in
competitive pressure.

Consequently, reducing unnecessary expenses and maintaining employee retention.

The purpose of this paper is to review the literature on the efficiency of business recruitment tactics.

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 TABLE OF CONTENTS

CHAPTER NO. TITLE PAGE NO.

I) INTRODUCTION
1.1 INTRODUCTION TO COMPANY

II) REVIEW OF LITERATURE

III) OBJECTIVES AND RATIONALES OF THE PROJECT

3.1 RESEARCH TYPE
3.2 AREA OF STUDY
3.3 SAMPLE SIZE AND SAMPLING METHOD
3.4 RESEARCH DESIGN

IV) DATA COLLECTION

V) OBJECTIVES OF THE STUDY

VI) DATA ANALYSIS

VII) FINDINGS OF THE STUDY

VIII) SUGGESTIONS AND CONCLUSIONS

BIBLIOGRAPHY

REFERENCES…………………………………………………

ANNEXURE………………………………………………

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 CHAPTER-1: INTRODUCTION

1.1 INTRODUCTION TO COMPANY

Leading life insurance provider in India is Max Life Insurance Company Limited (formerly Max
New York Life Insurance Company Limited).

The company, which is India's largest non-bank private-sector life insurer, is a subsidiary of
publicly traded Max Financial Services Limited. Following the liberalisation of the Indian insurance
industry, it was established in 2000, and activities got underway in 2002. The chairman of Max Life
Insurance is Analjit Singh, the creator of Max Healthcare.

The company's main office is in New Delhi. Max India Ltd. Group includes Max Life Insurance. It
is a partnership between Mitsui Sumitomo Insurance Company and Max Financial Services.

68% of the corporation is owned by the former, and 26% by the latter. In 2012, Max Life, formerly
known as Max New York Life, changed its name to Max Life after entering a joint venture
collaboration with Mitsui Sumitomo. Axis Bank had a 6% stake in Max Life as of February 2016.

MAX LIFE INSURANCE COMPANY LIMITED

Industry Financial Services and Insurance

Founded 2000

Headquarters New Delhi

Net income INR 440 crore

Total assets INR 35,825 crore

Website https://www.maxlifeinsurance.com

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1.1.1 PRODUCTS AND SERVICES:

In India, Max Life has about 2,000 customers who purchase life insurance. Banks, individual
agents, brokers, and corporate agents are a few of the channels via which it is distributed. It offers
things that are linked, participating, and not participating.

In addition to life insurance, it provides coverage for health, pension, and annuities. It provides both
people and groups with child, protection, retirement, savings, and growth plans.

Max Life offers the following type of life insurance plans:

1) Child plans
2) Term plans
3) Growth plans
4) Savings plans
5) Strategic plans
6) Retirement plans
7) Group plans

1.1.2 DYNAMIC FUND ALLOCATION:

Only at the beginning of the policy may you choose the dynamic fund allocation option.

According to the matrix below, assets under management will be maintained between the Growth
Super Fund and the Secure Fund in a predetermined ratio that varies depending on the number of
years before maturity.

On the anniversary of the policy, the value of the current fund will be switched, and the date on
which the premium was received or the date on which the premium was due will be used to divide
the premium received among the funds.

Whichever occurs first, in the ratio shown in the table below. During the time that this option is in
effect, you are not able to exchange units or divert premiums.

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Anytime throughout the Policy Term, you have the opportunity to turn off "Dynamic Fund
Allocation," which will take effect on the Policy Anniversary following that. "Dynamic Fund
Allocation" cannot be selected once it has been deactivated.

You may also use free switches or premium redirection options after opting out.

Number of Years to Maturity Assets Under Management to Assets Under Management to

Be Maintained Under the Be Maintained Under the
Growth Super Fund Secure Fund

16 – 30 80% 20%

11 – 15 60% 40%

6 - 10 40% 60%

0-5 20% 80%

1.1.3 DISCONTINUANCE POLICY FUND (SFIN: ULIF002021/06/13LIFEDISCON104):

Fund Name Government Corporate Money Equity & Risk Rating

Securities Bonds Market & Equity
Cash Related
Instruments Securities

Discontinuance 60-100% NIL 0-40% NIL LOW

Policy Fund

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The minimum guaranteed return on this Fund is 4.0% per annum (or as mandated by IRDAI from
time to time).
The excess income earned in the Discontinuance Policy Fund over and above the minimum
guaranteed interest rate shall also be apportioned to the Discontinuance Policy Fund in arriving at
the proceeds of the discontinued policies and shall not be made available to the Company.

1.1.4 ELIGIBILITY CRITERIA:

Minimum Age of Life Insured at Entry (Age 18 years

as On Last Birthday)

Maximum Age of Life Insured at Entry (Age 54 years

as On Last Birthday)

Maximum Maturity Age of The Life Insured 64 years

(Age as On Last Birthday)

1.1.5 THE CHARGES SPECIFIED BELOW ARE GUARANTEED AND SHALL NOT
CHANGE DURING THE POLICY LIFETIME:

1. Premium Allocation Charge: Nil

2. Policy Administration Charge (All Years): Nil
3. Switch Charge: All switches will be free of charge.
4. Premium Redirection Charge: There is no charge for premium redirection. A maximum of
six premium redirections are allowed in any Policy year.

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5. Partial Withdrawal: Partial withdrawals are free of any charge. A maximum of two partial
withdrawals are allowed in any policy year.
6. Fund Management Charge: This fee will be appropriated, typically every day, by changing the
Fund's Net Asset Value. It will be assessed as a percentage of the value of the assets. The yearly
rate, which is listed below, will be divided by 365 and multiplied by the number of days from the
last unit valuation date to determine the rate to be charged.
The costs listed below are guaranteed and won't fluctuate over the course of the insurance. The Fund
Management Charge is charged at the following annual rate.

1.1.6 ADVERTISING CAMPAIGNS:

There have been various advertising campaigns for Max Life Insurance.

A few standouts include:

• Launched in January 2015, Second Chance Two videos from the campaign featured individuals
discussing how life gave them a second chance.

The goal of the campaign is to raise awareness of the value of life insurance as a kind of protection.

• Saatchi Counsel: The campaign, which was introduced in August 2015 using the TVC medium,
aims to showcase the company's commitment to giving all of its client’s transparent advice.

1.1.7 MAX LIFE OFFERS TERM PLANS:

WHA TERM PLAN IS IT?

When an insured individual passes away during the policy term, a lump sum payment is made to the
nominee (the family member the insured has designated to receive the policy benefits in the event of
his or her death).

Term insurance plans are a sort of life insurance contract that makes this promise. Term insurance is
so named because it only provides temporary protection for the insured's life (or term).

If the policyholder lives out the entire term of the policy, a term plan does not offer a maturity
value. This is one of the factors that contribute to term plans' low cost.

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WHAT IS THE BENEFIT OF TERM INSURANCE?

Emergencies and unexpected occurrences, such as the death of a breadwinner, can cause a family to
fall on hard times and jeopardise their future.

The breadwinner can guarantee that the family continues to get the financial support necessary to
maintain a respectable living with a term insurance policy.

TERM PLAN PLUS ONLINE

The Online Term Plan Plus from Max Life protects your loved ones' financial future from the risks
of death, illness, and disability.

One crore in life insurance is available with Online Term Plan Plus for just Rs. 563 per month*.
(Standard Premium for a 28-year-old non-smoking male with a base plan policy term of 30 years
and a premium payment term of 30 years)

1.1.8 MAX LIFE TERM PLANS OPTION AVAILABLE FOR YOU:

PLAN DESCRIPTION UNIQUE FEATURES

BASIC LIFE COVER A pure term plan with which pays • Lump sum payment of death
a fixed amount (sum assured) to benefit to your nominee
the family • Life stage benefit to enhance
insurance cover on important
milestones like marriage, birth of
a child
• Benefit payment for up to 40
life threatening illnesses &
disabilities(on payment of
additional premium)
• Pay until the age of 60 years for
coverage up till the age of 85(on
payment of additional premium

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 BASIC LIFE COVER A pure term plan with which pays • 0.4% of the Sum Assured (S.A.)
+ a fixed amount (sum assured) to
MONTHLY INCOME the family + a fixed sum every
month
BASIC TERM LIFE COVER A pure term plan with which pays • This plan pays 0.4% of S.A.
+ a fixed amount (sum assured) to
INCREASING MONTHLY the family + a fixed sum every
INCOME month payable for 10 years that
keeps increasing by 10% every
year to account for increasing
living cost
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is paid each month for 10 years as
fixed monthly income
• Monthly income benefit is
payable over and above the base
Sum Assured
• The effective cost of this option
is just Rs. 85/Lakh of S.A.
((Standard Premium For 28-Year-
Old Male, Non-Smoker, Base
Plan Policy Term Of 30 Years,
Premium Payment Term Of 30
Years for Basic life cover
+monthly income option for a
sum assured of 1 crore)
each month in the first year as
monthly income
• The monthly income increases
each year by 10% for the rest of
the payout period
• The monthly income benefit is
payable over and above the base
sum assured.
1.1.9 MAX LIFE SAVINGS & INCOME PLANS:

The first time we ever remember saving money was by putting coins in a piggy bank. Even as
children, our parents instilled in us the value of setting up cash for unforeseen expenses.

The significance of disciplined saving emerged as a recurring topic.

Even though we all know it, many of us still don't do it. Max Life Savings & Income Plans can
assist you in saving money, obtaining a steady income, and ensuring the well-being of your loved
ones even when you are not around.

1.1.10 WHO SHOULD PARTICIPATE IN A SAVINGS AND INCOME PLAN?

• If you are looking for regular income through disciplined savings

• If you want to create a corpus to take care of your family’s future
• If you need a comprehensive life insurance coverage.

1.1.11 MAX LIFE GROUP INSURANCE PLANS:

High-performing enterprises are the result of content personnel.

This contentment results from difficult duties, professional development, financial stability, and a
positive work environment.

Group insurance plans handle the issue of financial security and give an organisation the ability to
offer each employee a range of insurance options while administering them smoothly on their
behalf.

Banks and other financial institutions can also make advantage of these plans to provide their
customers specific perks.

Select from the many Max Life Group Plans created for businesses, banks, and other financial
institutions to assist their members in obtaining affordable insurance coverage and securing their
future.

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1.1.12 WHAT ARE GROUP INSURANCE PLANS:

Group insurance plans assist in providing numerous insurance advantages all at once to a typical
group of people.

These are accessible for groups and organisations to offer their employees or members of various
groups efficient life insurance benefits.

We attempt to cover a variety of bases to offer total financial security, whether it be through health
insurance, savings, or voluntary financed plans like group gratuity; credit life for bank/financial
institution debtors; or pure protection plans for members of a master policy.

1.1.13 WHY SELECT A GROUP INSURANCE PLAN?

The key benefit of group insurance plans is its hassle-free method of offering widespread insurance
coverage.

These programmes are perfect for businesses, organisations, societies, banks, or other financial
entities that need to cover a group of people that fall into a predetermined category.

The following are some of these plans' main advantages:

- Receive customised plans with affordable prices to accommodate everyone's budget - Members
enjoy superior advantages compared to purchasing individual insurance policies

- A great way for firms to draw in and keep workers.

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 CHAPTER-2: REVIEW OF LITERATURE

2.1 HUMAN RESOURCE MANAGEMENT

The processes of defining the role, function, and method of human resource management (HRM)
within a dynamic and uncertain context have been ongoing for many decades in a fast-paced,
competitive business environment.

Professors from American Business Schools published a large number of books and papers in the
early 1980s to support the widely accepted HRM concept and the environmental instability in
today's modern business that explicitly address conflict and heterogeneity (Soderlund and Bredin,
2005).

Because of its varied history and wide range of influences, HRM encompasses a wide range of
fundamental organisational concerns, including those relating to individuals, practise, educational
theory, social and organisational psychology, sociology, labour relations, and organisational theory
(Soderlund and Bredin, 2005).

There isn't yet a consensus on what exactly human resources management (HRM) is and what it
entails in our day-to-day commercial world (Brewster and Larsen, 2000). There are fewer
satisfactory definitions put forth by various authors, such as Soderlund and Bredin (2005), who saw
HRM as 1) a "executive personnel responsibility" that primarily deals with management activities;
2) categorised HRM as management philosophy that deals with people treatment; and, finally, 3)
distinguished HRM as interaction management between the company and its employees.

Due to the contradictory theoretical idea and potential controversy regarding the definition's
widespread acceptability, Price's (2007) definition would be utilised in this literature because it is
more comprehensive and better explains the situation. As stated by Price (2007)

It has taken many years to outline the role, function, and process of human resource management
(HRM) in a fast-paced, fiercely competitive commercial environment.

To support the widespread acceptance of the HRM concept and the environmental volatility in
today's modern business that explicitly define conflict and heterogeneity, many books and articles
were produced by professors at American Business Schools in the early 1980s (Soderlund and
Bredin, 2005).

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Due to its varied antecedents and wide range of impacts, HRM encompasses crucial organisational
concerns such as individual, practise, educational theory, social and organisational psychology,
sociology, industrial relations, and organisation theory (Soderlund and Bredin, 2005).

2.2 THE IMPORTANCE OF HR IN ORGANISATION

HRM's only purpose is to ensure that a company's human resources are being utilised to their fullest
potential in order to achieve the best possible organisational outcomes that satisfy the goals of the
company. Gilley & Gilley and Nadeem Moiden (2003) (2007).

As a result, the idea that boosting employees' skills is central to the idea that HR is essential for
long-term competitive advantage and organisational success (Koch &McGrath, 2003). Because HR
supports managers and employees during a transition process, HR is important in organisations
(Hendry, Jones, Arthur & Pettigrew, 1991).

When staff are successfully leveraged to use their knowledge and creativity to achieve clearly
defined goals, businesses can gain significant competitive advantages. When an organisation hires
the most competent, devoted, adaptable, and effective individuals, manages them, and rewards them
appropriately, their performances, competencies, and efficiency will greatly increase the firm's
production (Price A., 2007).

To attain the best business performance, managers who delicately carry out organisational goals rely
on HR practises to provide excellence (Becker, B. and Gerhart, B., 1996).

However, many scholars and practitioners have ignored and misinterpreted the HRM subject, failing
to acknowledge that an organisation cannot run without its people. Reagans, Argote, and McEvily
(2003).

2.2.1 ADVANTAGES-

1. Enhancing Labour Productivity: Compared to other production elements, manpower or human

resources are unique. The efficiency of labour can be increased if the workers are happy because it
is subject to their free will. In other words, just as unhappy employees can be harmful, unhappy
employees can be productive.

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2. Recruiting Qualified Human Resources: Talented and competent labour is becoming increasingly
difficult to find, particularly in emerging nations. Therefore, it is crucial to hire the best labour force
through effective manpower planning if the company is to survive over the long term.

3. Adapting to the Rapid Technological Change: As technology changes, so do jobs and the
requirements for jobs. As a result, it's important to plan ahead and prepare a workforce that can
adapt to the demands of the technological revolution. Only with carefully considered manpower
planning is this possible.

4. Reducing Labour Turnover: When workers leave an organisation owing to a variety of reasons,
such as dissatisfaction, retirement, death, etc., this is referred to as labour turnover.

2.2.2 DISADVANTAGES-

1. Lack of Top Management Support: Top level management should support HRM. While
implementing HRM, a change in mentality at the top might provide positive outcomes. Due of a
complacent attitude at the top, personnel management professionals undertake this work. Nothing
exceptional will occur unless top management changes their strategy and mindset.

2. Inadequate Actualization: HRM should be implemented by determining the employees' needs for
training and development. Human resource policy should take into account the needs and ambitions
of the people. HRM is only partially active. The planning of certain training programmes is
regarded as HRM implementation. This ensures that management's focus on productivity and
profitability is maintained in many organisations.

3. The HRM department needs to establish programmes like career planning, on-the-job training,
development programmes, MBO, counselling, etc. It's important to foster a learning environment
within the organisation. In practise, HRM programmes are limited to classroom lectures, and this
method is not producing the desired benefits.

4. Insufficient Information: Some businesses lack the necessary data about their staff. This system
cannot be adequately implemented without sufficient data and information. Therefore, gathering,
storing, and retrieving information are necessary before putting human resource management into
practise. Even professionals in many organisations mistakenly believe that HRM and HRD are
interchangeable terms.

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3.1 STRATEGIC HR ROLES IN DYNAMIC AND UNCERTAINTY ENVIRONMENTS
Roles in strategic human resource management (SHRM) involve developing and executing
strategies.
The main responsibility of the SHRM in terms of strategy has been strategy execution. Strategists
always establish and margin their formulations in accordance with corporate and competitive
strategies, and they match business rules and procedures with their strategic formulations (Dressler,
2008).
Researchers have recently discovered SHRM to take an active part with the senior management in
the company to design the company's strategic plans as a result of a recent trend shift. The
globalised economy's increasingly competitive environment has caused many firms to focus on
improving employee engagement and competency in order to achieve better performance.

3.1.1 EMPLOYEE SATISFACTION

Employee satisfaction is personal pleasure with oneself as a professional, which has an impact on
one's attitude.
Employees learn through more realistic values and expectations of the gap between the value
received after the meeting and whether or not all parts of work attitudes and emotional responses are
present in the organization's operating characteristic, which is cognitive evaluation. Work
motivation and the amount of organisational commitment involved are closely related (Saari, L. M.,
& Judge, T. A., 2004).
The way a subordinate interprets a supervisor's behaviour can have a good or negative impact on job
satisfaction, which is why superior-subordinate communication is a significant factor in the
workplace.
3.1.2WAGES AND BENEFITS SYSTEMS
Salaries and benefits are essential aspects that, in the view of employees, influence their loyalty.
Money is not the most important thing, but it is undoubtedly extremely important.
Corporate and professional loyalty is built on the basis of material considerations.
A decent pay system that meets employees' basic material demands will foster strong professional
and corporate loyalty (Cook, 2008).

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3.1.3 ENTERPRISE HUMAN RESOURCE MANAGEMENT SYSTEM
As said above, human resource management is a required course for all businesses and one of the
most crucial ones because it affects employee motivation, how well employees are trained and
educated, and to some extent, how loyal employees are.
It frequently happens that the unscientific leads to unscrupulous commercial practises and the
establishment of simple formalities. Negative events that lower employee morale, cause employees
to slack off, complain more, or otherwise negatively impact staff performance.
3.1.4 RETAINING TOP EMPLOYEES

High levels of loyalty to the company, recognition of the company's values, willingness to share
success and failure, and common development are qualities of excellent employees.

They should also have the proper attitude, initiative, and study to make improvements, be willing to
work hard and know what to do and what not to do, and have great development potential.

Third, the capacity to work autonomously, demonstrate skill, and continue to grow (McKeown,
2002). Being productive and demonstrating a greater passion for and commitment to the
organization's vision, strategy, and goals are key characteristics of outstanding employees.

4.1 PLANNING

Planning in HRM has been discussed for many years in many HRM contexts (Wren, 1994).

HR planning was initially a significant component of job assessments and was frequently used as a
platform for identifying employee strengths and shortcomings as well as for developing the skills
and competencies that the employees need (Gallagher, 2000).

Companies gradually began to pay greater attention to specific talents and competencies among
individual employees as individual career plans gained popularity as a means of aligning and
dealing with the companies' succession planning (Kuratko and Morris) (2002).

4.2 RECRUITMENT AND SELECTION

Recruitment and selection processes in an organisation are the mechanism in charge of dispersing
diverse abilities.

The recruiting and selection process are a moral strategy used by a company to find and entice the
best qualified and suitable candidate for a position that has to be filled (Analoui, 2007).

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According to Price (2007), there are three main types of recruitment strategies: appropriateness,
which refers to hiring the most qualified candidate for the job, malleability, which refers to fitting in
with the culture, and flexibility, which refers to hiring the most dependable and adaptable worker.
During the employment process, these variables can be very confusing and lead to mistakes. Since
suitability is important, the hiring procedure for the best candidate for the job is the main focus of
this consideration.

The most intense organisational competition today is over the process of choosing and keeping
potential personnel (Pfeffer, 1994).

The ability to compete fiercely in the market is simply implied by having the best skills. This
situation is rather common in modern company life and has also encouraged organisations to carve
out a niche by hiring the most known executives to steer the prosperous future.

THE HR PROCESS OF MAXLIFE INSURANCE IS AS FOLLOWS-

1.
• FINDING THE GAPS

2.
• LINE UPS/ WALK IN

3.
• TESTS WHICH INCLUDE PMAPS

4.
• DOCUMENTATION

5.
• OFFER GENERATION

6.
• JOINING

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4.5 CHANNELS OF RECRUITMENT
Russo et al., (1995) cascaded channels of recruitment into external and internal recruitment, and
formal and informal channels.
Internal recruitment channels mainly involve the use of intercommunication between other strategic
areas of the organization and the entire HR department.
This approach enhances the firm to prioritize and target in-house or current employees (Russo et al.,
1995; Analoui, 2007). Internal recruitment can be fully considered when it is fair and transparent,
since favoritism might occur; while external channel of recruitment base on the contrary.

4.6 TRAINING TO EMPLOYEES

In today’s contemporary organization, employees ‘skills and knowledge can make a positive impact
on the firm ‘s productivity (Gusto, Jetted & Katz ell, 1985). Organizations have to counter some
difficulties while training a single or more employees (Rotroff & Kozlowski, 1992).
Previous literatures argue the affordability of some organizations that deprive themselves for a
single individual employee particularly when human resources are limited: this can hinder the
productivity on the short term and destabilize the organization (Bishop, 2003).
He continues to stress that such perception about training implies that organization should embark
on a cost reduction strategy and focuses on in-house or on-job-training (OJT).
Formal training is just one of the possibilities for organizations to enhance the personnel
performance level, as important roles are covered also by organizational socialization (Chao, 1997)
and multitasking (May, 1997).
It was suggested in the early 1990s that organizational socialization is a fine process for newcomers
to source out information’s about the organization, learn about the necessary tasks and how to
perform their responsibility; clarifying their roles and relate with others inside the organization
(Rotroff & Kozlowski, 1992).
This philosophy was also supported by Rolag & Cardon (2003) as they indicated that the process of
socialization within a firm enhance newcomer to incorporate and learn in a well conducive
atmosphere.

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4.7 PERFORMANCE MANAGEMENT
The concept of measuring performance or managing performance within organizations is to
strategize how firms can get the utmost benefits from their employees (Dransfield, 2000).
The approach to measuring performance can be classified as a three-step approach that composed
by objectives, appraisal and feedback.
The first step is the setting of performance objectives that are quantifiable, easy to measure and
simple to communicate throughout the organization (Dransfield, 2000). After that, the process of
performance appraisal should take place (Bredin, 2008).
The management of performance includes design of work systems, facilitation of knowledge
utilization, sharing and creation, and appraisal and reward systems (Cardon & Stevens, 2004).
However, this phenomenon has been supported by different researchers claiming that performance
management/appraisal is an outstanding process to determine and supervise employees output
within the firm, so as it would be less complicating to assess and achieve maximum performance
(Zhu & Dowling, 1997).
It is an excruciating process to implement and evaluate a systemic approach that can accurately
pinpoint employee who is responsible for results within an organization (McKenna & Beech, 2008).
However, outcomes of individual behaviors such as job satisfaction, employee turnover,
absenteeism (Dyer and Reeves, 1995); motivation and commitment (Seibert, Silver, & Randolph,
2004), are proximal hence human resource processes are interconnected. In as much that the human
resource practices are intended to achieve result in this area; there effect can also have a tremendous
influence on the aforementioned outcomes (Bloom, 1999).

4.8 BENEFITS AND REWARDS

Eliciting high contributions within an organizational environment is highly essential for the firm as
well as the employees (Appleby and Maven, 2000).
For instance, expectancy theories have explicated aspects of anticipated rewards in line with
employee’s motivations.
This indicated that every employee will have to face with a logical decision in accordance to the
present economical circumstance (Tannenbaum and Dupree-Bruno, 1994).
As a result, to that employee considerable effort will manifests into an intended realizations and
fulfillment of a specific desire outcome.

21
Such manifestation enhances the explanation of the crucial aspect of organizational reward system
and how it can be sustaining and elicit the firm human capital investment Tannenbaum and Dupree-
Bruno (1994).
The conceptions of both internal and external rewards are highly valued by organizations and its
employees.
Not only the obvious fact that employees yearns more about promotional opportunities, higher pay
or better benefits, but also their desires and anguish spins from autonomy, personal growth and
valued responsibility.
Different authors have suggested the positive relationship, size and the implementation of
innovative ideas in human resource practice as a result to economic of scale (Baldridge and
Brunham, (1975) and Moch and Morse, (1977).

4.9 COMPENSATION
According to Patel & Cardon (2010) compensation is vital for contemporary organization as it
contributes to attract and retain high skilled workers with superior salaries, and it encourages a
desired stakeholder behavior regarding recognition and legitimacy.
Minbaevaet al. (2003) inferred that compensation would enhance motivation among personnel too.
Even though non-financial compensation can really work as a positive stimulus for the workers,
providing monetary benefits is necessary to increase the productivity of the employees on the
individual or group level (Gomez-Meja, 1992).
Balkin and Swift (2006) suggest a more flexible approach toward the payment issue. They proposed
to relate it to the life stage of the organization with a higher rate of non-monetary benefits during the
first years of activity, and a re-equilibration whenever the company enters the mature stage. Non-
monetary paybacks are represented by stock options, stocks or other form of equity sharing that
enhance the participation and the motivation of employees, while spreading the risks over a larger
number of people (Graham et al., 2002).
The aforementioned ownership sharing represents also a long-term planning for compensation, as
Graham et Al. (2002) stated, but also short-term rewards exist. These are represented by profit
sharing policies aiming to encourage the employees toward group work, or to control the
organizational outcomes (Heneman & Tansky, 2002).

22
4.10 CAREER DEVELOPMENT (CD)
Many practitioners and scholars within human resource development (HRD) field have claimed that
the utmost crucial aspect of the practices is career development (McLagan, 1989; Weinberger, 1998;
Swanson & Holton, 2001).
However, this area of studies has been given little attention (Upton, Egan & Lyneham, 2003).
With the intense competition in the 21 century, many organizations have realized that in order for
them to stay competition they have to improve their employees and enhance their career
development (Boudreaux, 2001); rather than individual career development (Swanson & Holton,
Upton, Egan & Lyneham, 2003).
Therefore, many organizations are now taking a proactive measures towards equipping their staffs
and educationally (Leana, 2002) or create a climate that supports their staffs at all levels of the
organization to be more resultant and productive (Sullivan, 1999); which Boudreaux, (2001);
Brown, (1997) referred to as ‘‘shared responsibility’’. However, learning within an organization is
quite critical and expensive; (McDonald, Hite & Gilbreath, 2002).
The most common learning methods within organizations are informal (i.e. on-the-job coaching,
sessions, lesson learned, development assignment) Power, Hirschman, & Doran, (2001) and formal
learning (i.e. as training/workshop and other forms of professional training conducted by
professional bodies internally or externally (McDonald, Hite & Gilbreath, 2002).

4.11 EMPLOYEE MOTIVATION

Motivating employees was highlighted as an indispensable part of HRM in many studies (e.g.
Pennington and Edwards, 2000; Dressler, 1997; Stone, 2005). Pennington and Edwards (2000)
divided motivational incentives into two parts: motivating individuals and motivating groups.
The former one pays the attention on individual needs and the later one highlights the equity
principia.
Some incentives played big roles in motivational process, for instance, the good communication
between organization and employees (e.g. Ivancevich, Konopaske and Matteson, 2008; Stone, 2005;
Dressler, 1997),
High Job satisfaction (e.g. Lambert, Hogan and Barton, 2001; Wright and Bonetti, 2007), Good
Payment and treatment (Carpenter and Sanders, 2004) and so on. Meanwhile, relating to the
interesting issue on employee turnover often happened in the company, job satisfaction is one kind
of factor that influences the turnover intent of employees.

23
Lambert, Hogan and Barton (2001) pointed out that job satisfaction is a key mediating variable
between the work environment and turnover intent, and suggested that managers take the focus on
the work environment to improve employee’s job satisfaction, and ultimately lower turnover intent.
Carpenter and Sanders (2004) opined that the investment in TMT (Top Management Team) could
be way for attracting and retain talent for organization.
Thus, it is required, and should be considered into the HRM process too.

4.11 EMPLOYEE SATISFACTION

Employee satisfaction is mainly concern with the satisfactions that derived from the individual as a
professional person.
One common research finding is that job satisfaction is correlated with life satisfaction (Rain, et al,
1991). This correlation is reciprocal, meaning people who are satisfied with their lives tend to be
satisfied with their jobs vice visa.
However, some research has argued this concept that that job satisfaction is not significantly related
to life satisfaction because of their variable such as nonworking satisfaction and core self-
evaluations are taken into account (Rode, J. C. 2004).
Organization member to its operating characteristic is the cognitive evaluation.
Employees get through the more realistic values and expectations of the gap between the values
obtained after the meeting whether or not all aspects of work attitudes are emotional responses.
This consists of the extent of firm involvement and related motivational activities (Saari, L. M., &
Judge, T. A., 2004).
Burgoon, Buller, & Woodall, (1996) one of the most suitable means of influencing employees’
satisfaction is the manners at which superior relate and communicate with subordinators.
The meshing and mashing of interpersonal relationships between the two distinctive groups or status
plays a significant role in terms of respect, attractions, formative impression or emotional
expression, deceptions and social influences (Burgoon, Buller, & Woodall, 1996).
Weiss and Cropanzano, (1996) inferred that such immediacy and friendliness will cumulate the
essential elements of job satisfaction (Weiss and Cropanzano, 1996).

24
 CHAPTER-3: OBJECTIVES AND RATIONALES OF THE PROJECT

3.1 RESEARCH TYPE: -

BASIC RESEARCH-

Basic research is an examination into the fundamental ideas and causes behind a specific event,
process, or phenomenon.

The term "theoretical research" is sometimes used. Basic research is the study or inquiry of a natural
phenomenon or something related to pure science. Basic studies occasionally might not have an
immediate utility or application.

It is not focused on finding solutions to any urgent practical issues. However, it has a unique or
fundamental quality.

It offers a methodical, in-depth understanding of an issue and makes it easier to derive a rational,
scientific solution. It aids in expanding the boundaries of knowledge.

The most intense organisational competition today is over the process of choosing and keeping
potential personnel (Pfeffer, 1994).

The ability to compete fiercely in the market is simply implied by having the best skills.

This situation is rather common in modern company life and has also encouraged organisations to
carve out a niche by hiring the most known executives to steer the prosperous future.

3.1.1 THE OUTCOMES OF BASIC RESEARCH FORM THE BASIS FOR MANY APPLIED
RESEARCH—

• The results of basic research serve as the foundation for a lot of applied research
• Seeks generalization
• Targets fundamental processes o Attempts to provide explanations for why things occur o
Ensures completeness of information
• Reports on the subject written in technical terms

25
3.1.2 BASELINE RESEARCH EXAMPLES-
• A critique of the use of product placement as a marketing tactic.
• A study of the key components of brands and branding.
• An analysis of the variables affecting each stage of the product life cycle.

3.1.3 PURPOSE OF BASIC RESEARCH-

• Become more knowledgeable about business and management processes.
• results in general rules about how processes work and how they relate to results.
• findings that are important and valuable to society at large.

3.1.4 ADVANTAGES OF BASIC RESEARCH ARE AS FOLLOWS-

• For any subject to advance its body of knowledge, fundamental research is crucial.
• Fundamental research' conclusions are typically applicable to a wide range of situations and
cases.
• Fundamental investigations typically lack fixed deadlines and are motivated by the
researcher's interest.

3.1.5 DISADVANTAGES OF BASIC RESEARCH ARE AS FOLLOWS- Basic research

cannot be helpful in solving specific problems in business and other settings.

26
3.2 AREA OF STUDY: -

3.2.1 HUMAN RESOURCE MANAGEMENT –

A company's department in charge of anything employee-related is called human resources (HR).

It also includes finding, screening, choosing, onboarding, training, promoting, compensating, and
terminating workers and independent contractors.

The HR department also keeps up with any new laws dictating how employees should be treated
during the hiring, working, and firing processes.

Many business strategists believe that of all the corporate resources, human resources are the most
crucial.

That's because staff members can develop new abilities, which over time expands a company's
competitive advantage. Simply put, other resources lack that capability.

3.3 WORK / NEED OF HR-

A well-run human resources department makes sure that a firm has all the right individuals it needs,
at the right time, at an acceptable price, and it supports the ongoing professional development of
those employees, giving the organization a valuable human resource.

The list of tasks the HR department oversees is quite lengthy. Besides hiring and firing, HR
professionals also take care of:

Recruiting & Background checks

Drug testing & Relocation

Training and professional development

Compensation plan development

Employee assistance plan

Outplacement & Payroll management

27
 Benefits administration

Legal & Employee relations

3.4 SAMPLE SIZE AND SAMPLING METHOD-

SAMPLE SIZE:

UNIVERSAL SAMPLE: THE NORTH REGION

SAMPLE AREA: DELHI AND HARYANA REGION

The “NORTH” region involves regions viz —

Jammu and Kashmir

Himachal Pradesh

Punjab

Haryana

Delhi

Uttarakhand

Uttar Pradesh

3.5 RESEARCH DESIGN—

The collection and analysis of measurements of the variables listed in the problem research are
done using a set of methods and procedures called a research design.
A study's design identifies the study's type (descriptive, correlational, semi-experimental,
experimental, review, meta-analytic) and sub-type (for instance, descriptive-longitudinal case

28
 study), research question, hypotheses, independent and dependent variables, experimental
design, and, if applicable, data collection techniques.
The "DESCRIPTIVE RESEARCH DESIGN" is the foundation of this study.
A descriptive study design is a scientific approach that entails watching and describing a
subject's activity without in any way altering it.
This technique is used by many scientific disciplines, particularly social science and psychology,
to get a broad picture of the issue.
It is particularly helpful in situations when testing and measuring a large number of samples—
which are required for more quantitative sorts of experimentation—would be impossible.
Anthropologists, psychologists, and social scientists frequently utilise these kinds of
experiments to study unaltered natural behaviour.
Additionally, firms intending to assess employee morale or market researchers wishing to assess
consumer behaviours may utilise it.

3.5.1 ADVANTAGES

• True experiments, while providing data that may be analyzed, frequently have a negative
impact on the subject's usual behavior because the person is being observed in a perfectly
natural and unchangeable context.
• Because the overall overview of descriptive research provides some helpful hints as to what
variables are worth examining quantitatively, it is frequently utilized as a precursor to
quantitative research designs.
• Since quantitative studies are frequently time- and resource-intensive, it seems sense to have
an understanding of which hypotheses are viable candidates for testing.

3.5.2 DISADVANTAGES

• Many experts consider this type of study to be exceedingly inaccurate and

'unscientific' because no factors are altered,
• making it impossible to statistically examine the findings.
• Additionally, observational study findings cannot be replicated, which prevents a
review of the findings and its replication.

29
TYPE OF VARIABLES INTERVENTION EXAMPLE COMMON
DESIGN CONTROLLED APPLIED STUDY
OR NOT DESIGNS

Descriptive No, The Variables No A Description of Comparative

Design Are Not Anything Briefly Descriptive
Controlled Designs, Etc..

30
 CHAPTER 4: DATA COLLECTION

PRIMARY DATA

Primary data is data that is collected by a researcher from first-hand sources, using methods like
surveys, interviews, or experiments.
It is collected with the research project in mind, directly from primary sources.
The term is used in contrast with the term secondary data. Secondary data is data gathered from
studies, surveys, or experiments that have been run by other people or for another research.
Typically, a researcher will begin a project by working with secondary data. This allows time to
formulate questions and gain an understanding of the issues being dealt with before the more costly
and time-consuming operation of collecting primary data.

ADVANTAGES OF PRIMARY DATA:

➢ It is original and fresh.

➢ It is possible to collect the information that is just relevant for the study.
➢ The researcher can achieve maximum accuracy in the collection and analysis of data.
➢ The researcher can be sure of the reliability of the data.
➢ Primary data alone are necessary for certain studies, e.g., studying the effectiveness of
advertising.

DISADVANTAGES OF PRIMARY DATA:

➢ Collection of primary data is a time consuming affair.
➢ It may be expensive too.
➢ It is difficult to find sincere and honest interviewers or enumerators.
➢ In the case of questionnaire method, the researcher might face the problem of non-response.
➢ The respondents may not be prepared for an interview when the enumerator approaches them
with the schedule.

31
4.1.1 DATA COLLECTION WAYS:
The Primary Data Has Been Collected Through Following Methods:
➢ Interview method
➢ Questionnaire method
➢ Observation method

1- Interview method:
Direct personal interview method was used to collect the information from the respondents
(employees) by personally visiting and meeting the people from whom data have to be collected. This
method was used because the project includes an intensive study of a limited field. Moreover, the data
needed for the purpose is more of personal nature which can be collected through directly
communicating with the employees in order to increase its reliability. The information thus collected
is original, accurate and in depth.
The interview was unstructured as it was characterized by flexibility of approach to questioning and
did not follow a system of pre-determined questions and standardized techniques of recording
information. The method of unstructured interview was chosen so as to have greater freedom to ask,
in case of need, supplementary questions or at times to change the sequence of questions.

2- Questionnaire method:
In this method, a questionnaire was made consisting of a number of questions to be answered and
filled by the respondents (employees) on their own. This method was used in order to enable the
respondents to answer the questions as per their convenience and to provide those adequate to give
well thought out answers. Thus, this further increase accuracy.

3- Observation method

This is another popular method which is used for assessing the dynamics of a particular situation,
offering an organized method of collecting data. Herein, the researcher, as a primary source, is
rendered as a platform to evaluate people through naturally occurring circumstances. E.g., studying
the behavior of people who travel by railway. Herein, the researcher can carry out primary research
for understanding the behavior of the focus group on a direct basis.

32
 4- Surveys:
This method involves cost, as it cost money to design and implement a survey. Also,
data collected from surveys may contain lots of missing data, data in incorrect format for
example, someone could enter their age as ‘twenty-eight’ instead of 28, so lots of work
is needed to preprocess, organize, clean, and reshape data collected from surveys.

5- From websites:
Sometimes you can scrape data from websites, lots of work has to be done to clean,
organize and reshape the data. However, some websites contain data in a clean and
structured format.

6- Purchase raw data from organizations or companies:

This method is also costly. But it saves time as sometimes data purchased from a
company or organization may already be in a structured format that can be used directly
for analysis without cleaning and reshaping the data.

7- Simulate data:
This method is mostly used for stochastic processes.
For example, you can use Monte-Carlo simulation to simulate data that follows a given
probability distribution like Poison distribution or Normal distribution. This method of
generating raw data is free.

4.2 SECONDARY DATA

Secondary data refers to data which is collected by someone who is someone other than the user.
Common sources of secondary data for social science include censuses, information collected by
government departments, organizational records and data that was originally collected for other
research purposes.

33
 MERITS OF SECONDARY DATA
The merits of secondary data are as follows:

➢ It is easy to use information already gathered by someone.

➢ It will not be expensive.

➢ Collection of secondary data is not a time-consuming affair.

➢ The researcher need not depend on anyone for the necessary information. There is no need for
a questionnaire or schedule.

DEMERITS OF SECONDARY DATA

➢ It is difficult to find data that would be just relevant for the study.

➢ There is no guarantee that the available information will be reliable in most cases.

➢ Analysis carried out on inaccurate data will render the study useless.

➢ The market trend, consumer behavior etc., are not static.

➢ A study in marketing pertaining to these would not, therefore, warrant the use of secondary
data.

➢ The researcher, in certain cases, may not find access to certain records.

34
The Secondary Data Has Been Collected Through Following Methods:

A. INTERNAL SOURCES ARE: -

➢ Sales Report

➢ Financial Statements

➢ Customer details, like name, age, contact details, etc.

➢ Company information

➢ Reports and feedback from a dealer, retailer, and distributor

➢ Management information system

B. EXTERNAL SOURCES ARE: -

➢ Government censuses, like the population census, agriculture census, etc.

➢ Information from other government departments, like social security, tax records, etc.

➢ Business journals

➢ Social Books

➢ Business magazines

➢ Libraries

➢ Internet, where wide knowledge about different areas is easily available.

35
 CHAPTER 5: OBJECTIVES OF THIS STUDY

• To Analyze Attract and Empower an Ever-Increasing Number of Applicants to Apply in The

Organization.

• To Build Positive Impression Of The Recruitment Process.

• To Create A Talent Pool of Candidates to Enable the Selection of Best Candidates for The
Organization.

• To Attract and Engage People It Needs to Achieve Its Overall Organizational Objectives

• To Increase the Pool of Job Candidates at Minimum Cost.

• To Recruit Right People Who Will Fit In To Organizations Culture And Contribute To The
Organizations Goals.

• To Determine Current and Future Requirements of The Organization in Conjunction with Its
Personnel Planning and Job Analysis Activities.

• It Help Upwards the Achievement Rate of Choice Process by Diminishing Number of

Unmistakably Under-Qualified or Overqualified Work Candidates.

• It Help Decrease In The Likelihood That Activity Candidates Once Enlisted And Chose
Will Leave The Organization After A Brief Time Frame.

36
• To Meet the Organizations Lawful and Social Commitments with Respect to The Synthesis
of Its Workforce.

• To Begin Identifying and Preparing Potential Job Applicants Who Will Be Appropriate
Candidates.

• To Increment Organization and Individual Effectiveness of Different Selecting Systems

Temporarily and Long Haul.

• To Evaluate The Effectiveness Of Various Recruiting Technique And Sources For All Types
Of Job Applicants.

• Moreover, The Work of HR Is to Get the Details of The Candidates So as To Verify the
Background as Well As To Grab the Personal and Official Information of The Respective
Candidate.

37
 CHAPTER 6: DATA ANALYSIS

WHY DATA ANALYSIS IS USED

The process of evaluating data involves looking at each component of the provided data while
applying analytical and logical reasoning.

One of the many steps that must be finished when conducting a research experiment is this type of
analysis.

To form a finding or conclusion, data from many sources is collected, reviewed, and then analysed.

Data mining, text analytics, business intelligence, and data visualisations are just a few examples of
the many different types of specific data analysis techniques available.

WHAT IS THE PROCESS OF EMPLOYEE SELECTION?

The "Process of Gathering and Evaluating Information About an Individual in Order to Extend an
Offer of Employment" is known as employee selection.

Employee selection is a component of the organization's overall hiring process, which also includes
planning, recruiting, and retention efforts for human resources (HR).

Through the process of human resource planning, an organisation forecasts its potential need for
employees with specific knowledge, skills, and abilities (Keas) and assesses that demand against the
likelihood that these employees will be available on the internal or external labour markets.

Depending on the type of organisation and the nature of the job in question, the organisation may
use a variety of methods to try to get in touch with potential job applicants during the recruitment
phase of staffing, including internal job postings, advertising to attract external applicants, employee
referrals, and many others. When a pool of candidates is created through the organization's
recruitment efforts, employee selection can begin.

38
SECTION A: -

 THE JOINING DATA OF THE OF THE CANDIDATES FORTHE MONTH OF MAY

JUNE AND JULY IS -

TABLE A.1

MONTH JOININGS RESIGNATIONS

(IN NO.) (IN NO.)

MAY 51 10

JUNE 52 25

JULY 60 15

TOTAL 163 50

250

200

150
RESIGNATIONS
100 JOININGS

50

0
MAY JUNE JULY TOTAL
39
INTERPRETATION (TABLE A.1)
THIS TABLE SHOWS THE DATA OF JOININGS AS WELL AS THE REGISNATIONS AT
MAXLFE INSURANCE IN THE MONTH OF MAY, JUNE AND JULY
RESPECTIVELY.MOREOVER THE TOTAL BAR INDICATES THAT THE JOININGS HAVE
A MORE RATIO THAN THE RESIGNATIONS.
I.E. (THE RESIGNATIONS ARE JUST 0.307% OF THE JOININGS.)

 THE REJECTION DATA OF THE RESPECTIVE THREE MONTHS IS-

TABLE A.2

MONTH REJECTIONS

(IN NO.)

MAY 30

JUNE 50

JULY 40

TOTAL 120

40
 50
30
MAY
JUNE
JULY

40

INTERPRETATION (TABLE A.2)

THIS TABLE SHOWS THE DATA OF THE REJECTED CANDIDATES IN THE RESPECTIVE
3 MONTHS, DUE TO DIFFERENT PROBLMS; VIZ. FAILED IN PMAPS, COMMUNICATION
BARRIER, NOT UP TO THE MARK FOR THE ORAGANIZATION, LACK OF KNOWLEDGE,
ETC….

 THE PASSED AND FAILEDIN PMAPS DATA OF THE RESPECTIVE THREE

MONTHS IS-

41
 TABLE A.3

MONTH PASSED IN PMAPS FAILED IN PMAPS

(IN NO.) (IN NO.)

MAY 51 10

JUNE 52 15

JULY 60 11

TOTAL 163 36

180 163
160
140
120
100
80
60
60 51 52
36
40
10 15 11
20
0
MAY JUNE JULY TOTAL
PASSED FAILED

INTERPRETATION (TABLE A.3)

THIS TABLE SHOWS THE DATA OF THE PASSED AS WELL FAILED CANDIDATES IN
PMAPS ASSESMENT. THIS PMAPS ASSESMENT IS NOT DONE FOR THE BRANCH

42
MANAGERS AND THE HIGHER POSTS. ALSO, THE MINIMUM CRITERIA TO CLEAR
THIS IS 45.7%. ACCORDING TO THE DATA OUT OF THE REJECTED CANDIDATES, 30%
ARE BECAUSE OF FAILED IN PMAPS ASSESMENT.

 THE NUMBER OF JOININGS OF THE CANDIADTES AT DIIFERENT

LOCATIONS (IN NORTH) IS –

TABLE A.4

MONTH/STATES MAY JUNE JULY

JAMMU AND KASHMIR 2 0 3

HIMACHAL PRADESH 1 3 1

PUNJAB 16 10 15

HARYANA 5 12 10

DELHI 13 17 20

UTTARANKHAND 4 5 3

UTTAR PRADESH `10 5 7

TOTAL 51 52 60

THIS SECTION IS TRULY AND BRIEFLY BASED ON DICHOTOMOUS SCALE

Q 1. DO THE ORGANISATION ADOPT THE PROCESS OF RECRUITMENT & SELECTION?

43
❑ YES

❑ NO

❑ CANNOT SAY

TABLE B.1

SERIAL NO. OPTIONS PERCENTAGE (%)

1. YES 70

2. NO 20

3. CANNOT SAY 10

10% 10%

YES
NO
CANNOT SAY

80%

44
INTERPRETATION (TABLE B.1)
THE ABOVE PIE DIAGRAM SHOWS THAT 70% OF RESPONDENTS ADOPTS THE
PROCESS OF RECRUITMENT & SELECTION IN THEIR ORGANIZATION WHERE AS 20%
DON’T ADOPTS AND THE REST 10% DON’T KNOW ABOUT IT.

Q 2. IS IT NECESSARY FOR THE CANDIADTE TO SUBMIT ALL THE DOCUMENTS ON

THE DAY OF DOCUMENTATION?

❑ YES

❑ NO

❑ CANNOT SAY

TABLE B.2

SERIAL NO. OPTIONS PERCENTAGE (%)

1. YES 10

2. NO 80

3. CANNOT SAY 10

45
INTERPRETATION (TABLE B.2)
THE ABOVE PIE DIAGRAM SHOWS THAT 80% OF THE TIMES THE HR MANAGER
ACCEPTS THE DOCUMENTATION WITHOUT THE WHOLE DOCUMENTS BUT
SOMETIMES THERE ARE 10% CHANCES OF NOT ACCEPTING THE DOCUMENTATION
WITHOUT THE REQUIRED DOCUMENTS AND THE REST 10% DON’T KNOW ABOUT IT.

90
80
80
70
60
50
40
30
20
10
10 10
0
YES NO CANNOT SAY

Q 3. IS IT NECESSARY FOR THE CANDIADTE TO GET THEIR IRDA LIENSE

TERMINATED BEFPORE APPLYING FOR MAXLIFE INSURANCE?

❑ YES

❑ NO

46
 100

0 0
YES NO CANNOT SAY

INTERPRETATION (TABLE B.3)

THIS MEANS THAT IT IS FULLY COMPULSORY FOR THE CANDIDATES BEFORE
JOINING.

Q 4. DO YOU THINK ORGANIZATION PREFERS REFERRED CANDIDATES?

❑ YES

❑ NO

❑ CANNOT SAY

47
 TABLE B.4

SERIAL NO. OPTIONS PERCENTAGE (%)

1. YES 78

2. NO 12

3. CANNOT SAY 10

10%

12%
YES
NO
CANNOT SAY

78%

INTERPRETATION (TABLE B.4)

The above Pie Diagram shows that 78% of the candidates are being referred while 12% are being
called up from other employment sites and about the rest 10% one doesn’t know.

48
Q 5. DOES HR PROVIDES AN ADEQUATE POOL OF QUALITY APPLICANTS?

TABLE B.5

SERIAL NO. OPTIONS PERCENTAGE (%)

1. YES 55

2. NO 35

3. CANNOT SAY 10

55

35

10

YES NO CANNOT SAY

INTERPRETATION (TABLE B.5)

The above Pie Diagram shows that 55% are quality candidates while 35% are unprofessional and
unskilled ones and about the rest 10% one doesn’t know.

49
Q 6. IS THE ORGANIZATION DOING TIMELINESS RECRUITMENT AND SELECTION
PROCESS?

❑ YES

❑ NO

❑ CANNOT SAY

TABLE B.6

SERIAL NO. OPTIONS PERCENTAGE (%)

1. YES 67

2. NO 23

3. CANNOT SAY 10

INTERPRETATION (TABLE B.6)

The above Pie Diagram shows that 67% of the times the HR managers are able to cope up with the
deadline while 23% times they lack due to the external factors and about the rest 10% one doesn’t
know.

YES NO CANNOT SAY

10%
23%

67%

50
Q 7. DOES THE ORGANIZATION DO EMPLOYEE VERIFICATION BEFORE AND AFTER
SELECTION?

❑ YES

❑ NO

❑ CANNOT SAY

TABLE B.7

SERIAL NO. OPTIONS PERCENTAGE (%)

1. YES 60

2. NO 30

3. CANNOT SAY 10

60

50

40
60
30

20 30

10 10

0
YES NO CANNOT SAY

51
INTERPRETATION (TABLE B.7)
The above Pie Diagram shows that 60% of the times the HR managers are able to verify the
candidates while 30% times they lack due to the external factors and internal factors about the rest
10% one doesn’t know.

SECTION C: -

THIS SECTION IS TRULY AND BRIEFLY BASED ON NOMINAL SCALE

Q 1. WHICH DESIGNATIONS ARE REQUIRED TO GIVE PMAPS?

CRM

BRM

VBP

RM

Q 2. WHICH IS THE MOST IMPORTANT QUALITY THE ORGANIZATION LOOKS FOR IN

A CANDIDATE?

A. KNOWLEDGE

B. PAST EXPERIENCE

C. OPTIMISTIC NATURE

D. DISCIPLINE

E. TEAM WORK ABILITY

F. OTHER

52
Q3. HOW DO YOU RATE THE SELECTION POLICY OF THE ORGANIZATION?

A. GOOD

B. AVERAGE

C. POOR

Q4. RATE THE EFFECTIVENESS OF THE INTERVIEWING PROCESS AND OTHER

SELECTION INSTRUMENTS, SUCH AS TESTING?

A. GOOD

B. AVERAGE

C. POOR

Q5. RATE HOW WELL HR FINDS GOOD CANDIDATES FROM NON-TRADITIONAL

SOURCES WHEN NECESSARY?

A. GOOD

B. AVERAGE

C. POOR

53
 CHAPTER 7: FINDINGS OF THE STUDY

After a thorough study and discussion on the company’s recruitment & selection policy, to know its
effectiveness in the organization a self-designed questionnaire has been prepared to gather the views
of employees.
These summed up responses were calculated to derive the percentages to make the interpretation
more meaningful, being represented in the form of different statistical diagrams.
These are the findings:
1) The process of recruitment & selection which is followed by the company is helpful to meet
the company’s manpower requirement to some extent.
2) The company should follow three stages in recruitment and selection process.

3) The company follow different recruitment process for different types of employees.

4) The organization doing timely recruitments & Selection Process.

5) The HR department efficient in designing the Selection policy of the employees.

6) HR manager and recruiting manager takes final decision for selecting the employees.

7) In the organization medical examination necessary for selecting an employee.

8) Employees said that they get Bonus incentives and perquisite rewards from the company.

9) The employees are satisfied with the recruitment & selection policy of their company.

10) Important guidelines & technical support available in their organization.

11) Company provide incentives to the employees.

12) There is a facility of felicitating an employee for long service in the felicitate
organization.

54
 CHAPTER 8: SUGGESTIONS AND CONCLUSIONS

8.1 CONCLUSION

In conclusion, it can be seen that every firm's hiring practises are a reflection of its
management's goals and plans for achieving those goals.

They also serve as a roadmap for management's decision-making and as the means by which the
company interacts with its employees.

As everyone is aware, a company's human resources are crucial to its smooth operation.

So that they are properly prepared for the jobs they are given, it is essential to have well-trained
staff.

The requirement for employee training in today's industrial organisations is also widely
acknowledged in order to keep workers abreast of new technical advancements.

Therefore, every business needs to have a structured training programme for the advancement of
its personnel.

We can infer from this study that proper selection is crucial to the expansion and development of
any company.

Employees should be capable of managing things because their success depends on the success
of the business.

The productivity of the workforce should be boosted, the cost of production should be reduced,
and the quality of the output should be enhanced.

To do this, the employees' working efficiency and morale should be raised. Each team member
should foster an environment that values human relationships and personalities.

By doing this project I have come to know that how training plays a vital role for the employees
as well as for the organization’s development/a skill acquired through training is an asset for the
organization and for the employees as well.
In MAX LIFE INSURANCE COMPANY LIMITED most of the employees feel that the HR
department is good.
About Most of the managers says that they prefer both internal as well as external source for
recruitment.
55
 About Most of the mangers go for direct recruitment and less number for mangers prefer indirect
or third party.
Mostly the manpower planning is done Quarterly MAX LIFE INSURANCE COMPANY
LIMITED prefers to go for campus interviews and even casual application that are received for
recruitment but they hardly prefer placement agencies.
There various HR practices followed in the organization by having the study we can understand
the type of program are conducted for the newly joined employees.

8.2 SUGGESTIONS
Through This Study We Can Understand the Satisfaction Level of The Employees in The
Organization the Welfare Activities Followed in The Organization Were Suitable with The
Employees’ Point of View.
The Management Can Increase the Motivation Level of The Employees by Placing the Different
HR Practices Like Welfare Activities, Promotion Plans; Reward System, Compensation Plan,
And Active Participation Are Involved Because Of These Types of Activities.
When Any New Employee Enters in The Organization, He Has Faced Several Types of
Difficulties for Adjusting Themselves with The Working Environment of The Company So
Management Performs Several Practices.
In the Favor of Employees by Which the Employees Feel Comfortable, This Study Has
Significance to Maintain the Healthy Relation with The Newly Joined Employees.
And Also Help the Superior to Understand the Need of The New Employee from Their Side.

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REFERENCES

o BOOKS

o POWERPOINTS

o MAXLIFE MODULE

o ALREADY DONE RESEARCHES

o HUMAN RESOURCES

WEBSITES

WWW.MAXLIFEINSURANCE.COM

HTTPS://WIKIPEDIA.COM

WWW.QUORA.COM

WWW.SLIDESHARE.NET

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ANNEXURE

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