PROJECT REPORT

ON
“RECRUITMENT AND SELECTION PROCESS IN SHRIRAM GENERAL
INSURANCE Co.Ltd”
BY
SAHANA K L
Submitted to

BANGLORE NORTH UNIVERSITY TAMAKA

In partial fulfilment of the requirements for the award of the degree of

Under the guidance of

INTERNAL GUIDE EXTERNAL GUIDE

Nasreen B Basavaraj
Assistant Professor manager of shriram general life
Dept of B.COM insurance
Royal degree college Chintamani

ROYAL
Department of B.COM
Royal degree college , Anjani extension Chintamani
563125, Chikkaballapur District
April 2024

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 DECLARATION

I SAHAN K L here by declare that the internship report entitled “ RECRUTIMENT AND

SELECTION PROCESS IN SHRIRAM GENERAL INSURANCE Co.Ltd “` with reference

to shriram , chintamani prepared by me under guidance the Nasareen mam faculty of

B.COM department, royal degree college and external guide Basavaraj

I also declare that this internship work is towards the partial fulfillment of The university

regulations for the award of the degree of Bachelor of Commerce by Bengluru north

university , Tamaka

I have undergone a project for a period of 15 days. I further declare that this project is based

on the award of any degree /diploma from any other university

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 ACKNOWLEDGEMENT

I am l to truly grateful to my external guide Basavaraj And my internal guide ,NASAREEN MAM,
for their research guidance, encouragement, and opportunities provided.

I wish to thank all the respondents from the firms who spent their valuable time in discussing with me and
giving valuable data by filling up the questionnaire.

I deem it a privilege to thank our Privilege to thank our Principal DR FAYAS PASHA B for the having
given me the opportunity to do the project, which has been a very valuable learning experience.

My sincers and heartfelt thanks to all my teachers at the Department of B.COM , Royal Degree College for
their valuable support and guidance.

Last, but not least, I want to express my deep appreciation to my parents for their unstinted support
.

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 TABLE OF CONTENTS

SL.NO CONTENTS Page Nos.

1 EXECUTIVE SUMMARY

2 INTRODUCTION

3 DESCRIPTION OF THE ORGANIZATION

4 EXPERENTIAL LEARNING

5 INTERNSHIP OUTCOMES AND

CONCLUSION

6 BIBLIOGRAPHY

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 EXECUTIVE SUMMARY

My project report “a study on recruitment and slection procees in shriram general insurance Co. ltd”. I
had lot of questions in my mind when I started my project. My project work clarified my doubts and gives
a clarity about the industry

.
It’s a great opportunity to learn the industrial knowledge with proper guidelines by my external and
internal guides. As I started my project it’s a great challenge to understand the policies and practices of
the SHRIRAM GENERAL INNSURANCE CO.LID after few days later I started learning slowly. Each
department are having a separate division and they were centralized and carried forward. I understood
the operations of the SHRIRAM GENERAL INSURANCE as the service of SHRIRAM
INSURANCE is perishable the process should be veryquick and continuous.

As I completed my project work of 15 days and I learnt various accepts during my days. Now my doubts are
clear and I gained very resourceful knowledge during the same.

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 CHAPTER 1
Introduction

INTRODUCTION

INSURANCE
It consists of the customer paying a company a monthly fee to protect him from the risk of any
financial loss.
Types Of Insurance
1. General Insurance
2. Life Insurance
3. Education Insurance
4. Car Insurance

GENERAL INSURANCE:-
Insurance contract which does not come under the abit of the life insurance. Motor, Marine, Fire,
Accident and other miscellaneous non-life insurance.
Products Of General Insurance:-
1. Motor Insurance
2. Health Insurance
3. Travel Insurance
4. Home Insurance

THERARITICAL BACKGROUND

Recruitment And Selection

Recruitment is a key responsibility of the HR department. While HR works in many areas

including employee engagement, employee development, statutory compliance, data management

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and many others, one of the key areas of focus for HR is to attract, select andonboard suitable
candidates for the organization.

Recruitment is the process of attracting qualified candidates for a job role and Selection is theprocess of
identifying and selecting the right candidate for that job.

The contributions of each employee play a pivotal role in the sustenance and growth of a business.
Hence it is extremely important to select the right person for the job. The same way as a square peg
does not fit in a round hole, a bad hire can affect the overall business outcomes.

The impact to your business when you hire the wrong candidate is often much more than not hiring a
person at all! Recruitment is not only an operational activity but a key strategic activity for the
business.

Hence there is a need for developing a strong recruitment and selection process.

The right process reflects on your company’s professionalism and portrays your organization’s
maturity in attracting and hiring the right talent. An effective process helps in creation of a talent pool
in a proactive manner, thus assisting in meeting the medium-termand long-term business objectives.

Recruiting involves multiple stakeholders including senior level employees in your company and can
cost a lot in terms of time and money. Hence one needs to ensure that the process is well defined and
optimized to meet the needs of all stakeholder.

Recruitment definition

It is the process of finding, screening and hiring of qualified and skilled candidate for a job.

Process Of Recruitment Identify

the hiring needs Prepare job
descriptions Devise
recruitment strategy
Screen and shortlist candidates
Conduct interviews
Evaluate and make the offer

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 Onboard the new employee

Step 1: Identify the hiring needs

What are your existing hiring needs? May be an employee just left or a new job position just
opened. Once you identify the vacancies that exist, you can then define the job specifications suchas
skills, knowledge, experience, etc.

You can determine your hiring needs by checking

Any gaps in performance, skills or proficiencies that you need to fill

A sudden increase in workload that your team cannot seem to

handle Any employees who will be leaving the company soon

Step 2: Prepare job descriptions

Once you know the skills, knowledge and experience gaps you need to fill, define the job role,
responsibilities and duties.

A complete job description helps you know what to look for in potential candidates. It also serves as a
checklist for candidates to tick before they decide they are suitable for the role and apply- which
means, more relevant candidates.

The elements that should be included in a job description are

Title
Responsibilities
Necessary qualifications and skills
Compensation, benefits, and perks
Location

Step 3: Devise your recruitment strategy

This is where you decide how to attract and retain the ideal candidates. Here you should consider
whether you can find a possible candidate from within the company itself or whether you need to hire

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from outside.

In your strategy, you need to consider

The geographical area you’ll be targeting

The method of recruitment (employee referrals, social media, video interviews, etc.)
Creating relevant job ads
Channels for posting job ads (social media networks, job boards, company websites, etc.)

Step 4: Screen and shortlist candidates

Your recruitment strategy was a huge success and have accumulated a sky-high pile of application.
What’s next??

Here are the steps we follow when we face this exact challenge

Channels for posting job ads (social media networks, job boards, company websites, etc.)

Step 4: Screen and shortlist candidates

Your recruitment strategy was a huge success and have accumulated a sky-high pile of application.
What’s next??

Here are the steps we follow when we face this exact challenge

First, we sort through the applications to find the ones with minimum qualifications
Then we separate resumes with the preferred credentials. Here we consider the applicant’s
experiences, certifications, domain and technical competencies, and skills.
Those candidates who have the minimum qualifications and the required credentials will beshortlisted.
If there are any concerns regarding their application, we’d make a note so we can get it clarified
during the interview.

Step 5: Interview Process

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After the application form or the job advert, this is where your potential candidate will come in
direct contact with you. So it’s time to make a good impression on them as a potential employer.

And this is where you need to be concerned about candidate experience the most.
Here’s what we did to improve the candidate experience

Visualized interview program

To make it easy for both our team and the candidate, we have visualized the interview process. It’s
clear and helps remove any confusion.

We would attach it with the first email we send to our selected candidate. This helps them
understand what the process is, how much time it will take and prepare themselves accordingly.

Step 6: Make the offer

This is the time to check with the candidate’s references. And if everything checks out, you can
make the offer.

However, there’s a chance that the first promising candidate you have selected might not accept it.In
which case, you need to be prepared to extend the offer to the second best or third best candidate.

Step 7: Employee Onboarding

Then comes employee onboarding. This is where you make the new employee settle in. This does not
only include showing the new person around the office and introducing them to others.

This also includes helping them understand their responsibilities and providing the necessary
resources and training to help them learn. We’ve covered this topic in these two resources in more
detail.

Employee Onboarding Best Practices

The Visual Guide to Training New Employee

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OBJECTIVES

Every Task Is Undertaken With An Objective. Without any objective task is renderedmeaningless.

The main objective of undertaking this project are:-

1. To know the perception of the employees regarding recruitment and selection process.
2. To know recruitment process followed in Shriram General Insurance Co. Ltd.
3. To know selection process followed in Shriram General Insurance Co. Ltd.
4. To review HR policies pertaining to recruitment and selection.

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 CHAPTER 2
DESCRIPTION OF THE ORGANIZATION

Company Profile

Introduction
In today's age of consumerism, insurance requirements have expanded to keep pace with the
increasing risks. Today we have wide assortment of risk coverage commencing from ransom to
wedding, shops to assets, travel to vehicles etc... General Insurance companies have willingly
catered to these increasing demands and have offered plethora of insurance covers that almost cover
anything and everything under the sun.

Hence foreseeing the General Insurance business as a Sunrise Industry, Shriram Group has entered
into this business and as a result Shriram General Insurance came into existence. Upto Sept 2012 it
was a 74:26 Joint Venture between Shriram Capital Ltd. and Sanlam Limited (South Africa).
SANLAM is a leading Financial Services Group of South Africa with a market capitalization of
more than $6 billion, established in 1918 and the Group demutualised in 1998. SANTAM is a part
of Sanlam Limited, which is engaged in short-term insurance cluster and is the leading short-term
insurance company in South Africa. In September 2012, the stake of Sanlam Limited (South Africa)
has been transferred to Shriram Capital Ltd. However, in August 2016, Sanlam Emerging Markets
(Mauritius) Limited acquired 23% stake in Shriram General Insurance from Shriram Capital
Limited. The overall team of SGI includes young and vibrant senior executives of insurance domain
to handle Underwriting and Claim matters.

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Vision and Mission:
The business philosophy of Shriram General Insurance is to serve the largest number of common
people ("Aam Admi"). The Group's continued focus on addressing customer needs, nurturing talent
and bringing a home grown technology platform while delivering to the underserved segments of the
economy, has ensured strong growth & sustainability for over 3 decades. The Group's vision is
serving to the underserved and creating value at the bottom of the Pyramid.

Board Of Directors
Chief Executive Officer:- Anil Kumar Aggarwal

Owner :- P.S. Gopalakrishnan

Managing Director :- Neeraj Prakash

Chief Operating Officer :- Viswas Srivastava

Chief Marketing Officer :- Ashish Goyal

HISTORY
The entire general insurance business in India was nationalised by General Insurance Business
(Nationalisation) Act, 1972 (GIBNA).

The Government of India (GOI), through Nationalisation took over the shares of 55 Indian
insurance companies and the undertakings of 52 insurers carrying on general insurance business.

General Insurance Corporation of India (GIC) was formed in pursuance of Section 9(1) of GIBNA.

It was incorporated on 22 November 1972 under the Companies Act, 1956 as a private company
limited by shares

GIC was formed for the purpose of superintending, controlling and carrying on the business of
general insurance.

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As soon as GIC was formed, GOI transferred all the shares it held of the general insurance
companies to GIC.

Simultaneously, the nationalised undertakings were transferred to Indian insurance companies.

After a process of mergers among Indian insurance companies, four companies were left as fully
owned subsidiary companies of GIC

National Insurance Company Limited.

The New India Assurance Company Limited.
The Oriental Insurance Company Limited.
United India Insurance Company Limited.

The next landmark happened on 19th April 2000, when the Insurance Regulatory and Development
Authority Act, 1999 (IRDAA) came into force.

This Act also introduced amendment to GIBNA and the Insurance Act, 1938. An amendment to
GIBNA removed the exclusive privilege of GIC and its subsidiaries carrying on general insurance
in India.

In November 2000, GIC was renotified as the Indian Reinsurer and through administrative
instruction, its supervisory role over the four subsidiaries was ended.

With the General Insurance Business (Nationalisation) Amendment Act 2002 (40 of 2002) coming
into force from March 21, 2003; GIC ceased to be a holding company of its subsidiaries.

The ownership of the four erstwhile subsidiary companies and also of the General Insurance
Corporation of India was vested with Government This Act also introduced amendment to GIBNA
and the Insurance Act, 1938. An amendment to GIBNA removed the exclusive privilege of GIC
and its subsidiaries carrying on general insurance in India.

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 CHAPTER 3
EXPERIENTIAL LEARNING

Recruitment and Selection in SHRIRAM GENERAL INSURANCE CO. LTD

Steps in recruitment process in Shriram general insurance co. ltd

Step 1:
Whenever there is the vacancy in the company firstly it will be known by the project manager.
The project manager informs about the vacancy to the general manager.

Step 2:
Once the general manager gets to know about vacancy in the company he will inform it to the
chairman to get the approval of recruitment

Step 3:
After getting the recruitment approval the process is done by the HR Manager. Moreover The
Recruitment of the company internally, that is existing employee will be given first priority.

Internal Sources:

1. Present permanent employees

The company considers the candidates from their sources for General insurance industry
because,
 Availability of most suitable candidates
 The policy of the organization to motivate the present employees.

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External Sources:

1. Job Centres:
This is a network covering most cities acting as agent for potential employers. They are private
employee exchange ; job centres help the candidates in knowing more about the company.

2. Internet:
Internet is the modern mode of the recruitment. If a company wants to fill a vacancy through
external source then internet is the best option to choose.

Reasons for selecting the sources:

1. Referrals:
 Referrals are the existing employees working in the same organization. SHRIRAM
GENERAL INSURANCE select referral as their source since it is a economical way
of recruiting.
 This is also a fastest means of recruitment.
 In case of emergency to place an employee in particular position can be done easily
through referrals
2, Internet:
 Internet is the modern source used for recruiting the candidates
 Internet is selected as a source of recruitment for the following reason also.
 It is the fastest means of source.

3. consultants
 Consultants are the source through which more no. of candidates can be recruited and selected.
 Consultants helps the organization at the time of emergency.

Factors that are considered while recruiting in SHRIRAM GENERAL INSURANCE:

 Determining which characteristics that differentiate people are more important to

performance.
 Measuring those characteristics.
 Deciding who should make the selection process.
Page
  Time effective and economical.

Factors Affecting Recruitment:

Internal Factors External Factors

Recruitment Policy Supply and demand
HR Planning Labour market
Size Of The Firm Competitors
Growth And Expansion

Selection Process:

General criteria that is followed during the process of selection in SHRIRAM

GENERAL INSURANCE:

1. Internal Selection:
The candidates who are selected internally need not to go for the selection test. The company
already knows the ability of the employee.

2. External selection process:

The selection process in company refers to the person come through external source of
recruitment has to undergo the below selection process; this selection process has a series of
hurdles which the applicants has to go through.

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Technical Test And Interview:

The test refers here is technical test. SHRIRAM GENERAL INSURANCE conduct test for the qualified
candidates after they are screened on the basis of their application blanks so to measure the candidates
ability in technical side

Also the shortlisted candidates are supposed to go through the technical interview in which the technical
knowledge of the candidate is checked.

Panel Interview:

This is an interview where the panel members will interview the candidate, here the realcapacity of the
applicant will be revealed.

A series of questions will be asked as quickly as possible and the applicant has to satisfy thepanel members
with the answers.

Direct Interview:

This is the final round of the entire selection process. In this round the personal details of thecandidates, his
expectations towards the company will be known and according to the applicants attitude towards the job
the applicant will be selected.

Objectives of the interview:

 To know the information about the candidates

 To provide the candidates with the facts of the job and the organization.
 To judge the suitability of candidates to the job.
 To see the inner self and feeling of the candidates

Members Involved In External Selection Process:

Selection process Members

Test Technical person
Technical Interview HR Manager And Senior Technical Person
Panel Interview HR Manager, HR Person, Project Manager
Direct Interview Project Manager

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 CHAPTER 4
INTERNSHIP OUTCOMES AND CONCLUSION

FINDINGS

The collected data are analyzed and general observations has proven that SHRIRAM GENERAL
INSURANCE CO. LTD has done remarkable job in its Human Resource Department.

The main findings are as follows:

1. In SHRIRAM GENERAL INSURANCE employees feel that HR Department is Good.

2. Above 90% of the employees are satisfied with the recruitment and selection process

3. Most of the managers prefer personal interviews.

4. Mostly external sources of recruitment are considered.

5. About 90% of employees feel that they are comfortable working with the current HR
policies of the company. The policy of the company is to submit all the educational
documents and salary slips of the previous company in which they have worked before
and cannot leave the company for 2 years as given in the bond signed by them while
joining the company.

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CONCLUSION

Recruitment is the process of searching for prospective employees and stimulating

and encouraging them to apply for jobs in an organization. And Selection is
selecting the rightcandidate at the right time in the right place.

Employees of SHRIRAM GENERAL INSURANCE CO. LTD are satisfied with the
current/existing recruitment and selection process. SHRIRAM GENERAL
INSURANCE isrecruiting their employees main through Internet. Shriram General
Insurance recruits the employees in a decentralized way.

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SUGGESTION

 Recruitment must be done by analyzing the job firstly which will

make it easier andwill be beneficial from the company point of
view.

 The Recruitment and selection process should not be too

lengthy and timeconsuming.

 Provide Training To The Employees so that they get better

knowledge, skills andattitude

 Companies Should amend some parts of their HR Policies For Better

Effectiveness.

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BIBLIOGRAPHY

Websites:
1. www.google.com

2. www.en.wikepedia.org

3. www.shriramgi.com

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