Академический Документы
Профессиональный Документы
Культура Документы
ON
RECRUITMENT AND SELECTION PROCESS
AT RELIGARE, GURGAON
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DECLARATION
I hereby declare that this submission is our own work and that, to the best of our
person nonmaterial which to a substantial extent has been accepted for the award of
any other degree or diploma of the university or other institute of higher learning, except
where due acknowledgment has been made in the text. It gives me immense pleasure
that I got an opportunity to work with Religare Health Insurance .and also to undertake
such a wonderful project. The professionalism and the great work environment has
and enriching experience for me. Now that I have completed my project work, thus, it is
but natural to thank all those who made this project an outstanding experience.
Signature
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ACKNOWLEDGEMENT
This project aims at understanding the workings of an organization, its external and
knowledge about how an organization functions, the challenges it faces and its earnest
endeavor to overcome them in its objective of becoming the no.1 Insurances Company.
organization. I would especially like to thank Ms. Aarti Anand & Ms Sakshi Nigam
(HR MANAGER) for her guidance and motivation in helping me to understand the
working environment of the organization and the challenges ahead in the organization
and the corporate world as a whole. She helped me for providing insight knowledge of
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TABLE OF CONTENT
S.NO TITLE
Chapter 8 Findings
Chapter 10 Conclusion
Chapter 11 Bibliography
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CHAPTER -1
EXECUTIVE SUMMARY
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EXECUTIVE SUMMARY
This project provides an insight into the Human Resources Department of Insurance.
The project also includes the services industry in which Religare plays an important
role. The organization structure, history of the company, ownership patterns, divisions
and branches and different departments in the organization are also mentioned.
The project provides an overall view on the Human Resources department of the
company.
Lastly the project involves an analysis and comparative study of the candidate of
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CHAPTER-2
SIGNIFICANCE OF STUDY
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PROJECT
scientific investigation of any idea either precise or abstract from continuous basis of
learning. As we know in present times, the modern world is progressing at a very high
pace. Due to high competition and increased expectations, every organization needs
effective recruitment and selection process. By this study new segments of recruitment
and selection has been discovered. This will help to enhance the capability of Religare
Life Insurance in using the recruitment and selection process more effectively.
This project would be significant for researcher because this is the opportunity for
This project would be significant for the readers as it is providing them knowledge
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CONCEPTUALIZATION
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
prospective employees and stimulate them to apply for jobs in the organization.‖
attract qualified applicants and provide enough information for unqualified persons to
self-select themselves out.together those with jobs to fill and those seeking jobs. It is a
‗joining process‘ in that it tries to bring together job seekers and employer with a view to
In order to attract people for the jobs, the organization must communicate the position in
Recruitment is distinct from Employment and Selection. Once the required number and
kind of human resources are determined, the management has to find the potential Life
Advisors where the required human resources are/will be available and also find the
means of attracting them towards the organization before selecting suitable candidates
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for jobs. All this process is generally known as recruitment. Some people use the term
―Recruitment‖ for employment. These two are not one and the same. Recruitment is
only one of the steps in the entire employment process. Some others use the term
recruitment for selection. These are not the same either. Technically speaking, the
function of recruitment precedes the selection function and it includes only finding,
developing the sources of prospective employees and attracting them to apply for jobs
in an organization, whereas the selection is the process of finding out the most suitable
candidate to the job out of the candidates attracted (i.e., recruited).Formal definition of
recruitment would give clear cut idea about the function of recruitment.
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PURPOSES AND IMPORTANCE OF RECRUITMENT
Help increase the success rate of the selection process by reducing the number
Help reduce the probability that job applicants, once recruited and selected, will
Begin identifying and preparing potential job applicants who will be appropriate
candidates.
Search or head hunt/head pouch people whose skills fit the company‘s values.
Search for talent globally and not just within the company.
Anticipate and find people for positions that do not exist yet.
Increase organizational and individual effectiveness in the short term and long
term.
Evaluate the effectiveness of various recruiting techniques and sources for all
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Recruitment represents the first contact that a company makes with potential
company, and eventually decide whether they wish to work for it. A well-planned and
haphazard and piecemeal effort will result in mediocre ones. High-quality employees
cannot be selected when better candidates do not know of job openings, are not
interested in working for the company and do not apply. The recruitment process should
the company, provide enough information about the jobs so that applicants can make
comparisons with their qualifications and interests, and generate enthusiasm among the
best candidates so that they will apply for the vacant positions.
The negative consequences of a poor recruitment process speak volumes about its
qualified applicants can prove costly in several ways. It can greatly complicate the
selection process and may result in lowering of selection standards. The poor quality of
selection means extra cost on training and supervision. Furthermore, when recruitment
fails to meet the organizational needs for talent, a typical response is to raise entry-level
pay scales. This can distort traditional wage and salary relationships in the organization,
can play a major role in determining the resources that must be expended on other HR
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Recruitment Process
The recruitment and selection is the major function of the human resource department
and recruitment process is the first step towards creating the competitive strength and
systematic procedure from sourcing the candidates to arranging and conducting the
interviews and requires many resources and time. A general recruitment process is as
follows:
1. Identifying the vacancy-The recruitment process begins with the human resource
Posts to be filled
Number of persons
Duties to be performed
Qualifications required
characteristics.
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3. Advertising the vacancy
5. Short-listing
6. Arrange interviews
The recruitment process is immediately followed by the selection process i.e. the
final interviews and the decision making, conveying the decision and the appointment
formalities.
Recruitment process
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The recruitment procedure of health insurance is very easy. A person with high
educating and well experience can be recruited after a personal interview and group
discussion. After the training program is completed the Insurance Agent has to appear
license, which is the proof of a legalized insurance Agent, which permits him to deal in
his insurance business. Basically this process is for each and every profile.
SOURCES OF RECRUITMENT
Every organisation has the option of choosing the candidates for its recruitment
processes from two kinds of sources: internal and external sources. The sources within
the organisation itself (like transfer of employees from one department to other,
Candidates from all the other sources (like outsourcing agencies etc.) are known as the
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SOURCES OF RECRUITMENT
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FACTORS AFFECTING RECRUITMENT
Potential advantages
Internal
candidate
External
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Less opportunity to assess knowledge & skills
Please note that these pros and cons may or may not apply when recruiting for all
positions. Weigh up possible pros and cons for each recruitment situation before
Poor recruitment choices (i.e., poor person-job fit t) can have a range of undesirable
Remoteness of services
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Strategies for successful recruitment
Recruitment and selection is not only about choosing the most suitable candidate. The
recruitment and selection experience can also impact on the likelihood that a candidate
will accept a job offer and on their commitment to remaining with the organization.
worthwhile investment. Poor recruitment choices (i.e., poor person-job fit) can have a
range of undesirable consequences for the organization and the worker including:
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Step 3: Evaluate the recruitment strategy.
A clear, accurate and up-to-date job description is crucial to ensuring a good person-job
fit. It is worthwhile spending some time making sure that the job description matches the
Specific tasks and activities required for a particular job (e.g., conduct counseling
The knowledge, skills and abilities required for effective performance by the job
rapport).
Most positions within the AOD field are complex, characterized by challenging work,
multiple roles and changing work demands. In these circumstances, the best person-job
fit t may be achieved by focusing on the tasks and activities as well as the knowledge,
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What knowledge, skills, abilities and other personal characteristics (KSAOs) are
What KSAOs distinguish between good and poor performers on the job?
to recruit new workers. There is evidence that hiring new staff through referrals from
existing staff or direct (unsolicited) applications is likely to result in lower turnover rates
and higher job satisfaction compared to more traditional avenues of recruiting (e.g.,
newspaper advertisements.)
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MODERN TECHNIQUES:
Walk-in: - As per this technique, the potential candidates are required to attend for an
interview directly and without a prior application on a specified date, time and at a
specified place.
Consult-in: - The busy and dynamic companies encourage the potential job seekers to
Head-hunting: - These are also known as search consultants. The companies request
the professional organizations to search for the best candidates particularly for the
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. These professional and training
institutions are called body shoppers and these activities are known as body shopping.
Business Alliances: - Business alliances like acquisitions, mergers and take-over help
in getting human resources. The company with surplus human resources offers the
Tele-Recruitment: - This technique involves the use of the Internet, to advertise job
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Overview of selection techniques
Evidence-based best practice for three of the most commonly used selection techniques
is outlined below.
Requesting job applicants to address specific c selection criteria (i.e., essential and
2. Conducting interviews
candidate the same set of questions and assessing their responses on the basis of pre-
representative selection of people may also be helpful. Two common types of structured
• Situational questions which ask candidates about hypothetical scenarios that may be
encountered in the job and how they would respond in that situation
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• Experienced-based questions which focus on specific examples of the candidate‘s
prior work experiences and their responses to past situations that are relevant to the job
in question.
3. Reference checks
Referees are useful for identifying past employment problems and clarifying the
An effective induction helps new workers understand their role and where they ―fit‖
within the organization. It also equips them with the tools they need to perform their
• An induction checklist
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• An employment manual on policies and procedures
• Information about episodes of care, the duty system, supervision, staff meetings, etc.
New workers can be paired with experienced workers from a similar area to ―show them
the ropes‖.
strategy in
Which new workers are paired with a mentor who can assist them with their ongoing
professional development?
A wide selection of techniques are available which range from intensive (and expensive)
activities (e.g., multi-day assessment centers), to the more commonly used interviews
and reference checks. Based on the evidence alone, best practice in selection requires
a comprehensive program that, Includes realistic tests of work practice and the use of
AOD organizations.
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The next section describes evidence-based best practice for three of the most
Conducting interviews
Selection tests.
from their curriculum vitae (CV) / résumé and their written applications. This information
needs to be verified as far as possible before the person is hired. When reviewing the
CV / résumé and written application, look for items that may need further clarification
such as:
Ambiguous wording
Inconsistent information
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Consider requesting job applicants to address specific selection criteria (i.e., essential
and desirable) for the job position. The onus is then on the applicant to summarise their
work experience and qualifications and present it in an accessible manner. This makes
Process to find relevant information about each applicant that matches the criteria for
the job.
Conducting interviews
In order to obtain the best person-job fit (i.e., matching the right person for the right job),
each candidate the same set of questions and assessing their responses on the basis
and experience-based.
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Situational questions
encountered in the job and how they would respond in that situation.The questions
directly tap into the work related experience and problem-solving style of the candidate.
Your case load has increased to the point of being unmanageable - how would
You are the team leader and two team members have had an argument with one
another about the way the work tasks should be assigned. How would you
handle this?
If you disagreed with the work practices of a coworker or team member, how
A client complains to you that another staff member has acted inappropriately.
manage that are beyond your skill level (e.g., mental health issues or abuse).
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Experience-based questions
experiences and their responses to past situations that are relevant to the job in
1) Please describe a situation where you had to deal with an aggressive client and
outline how you dealt with this. What were some of the strengths and weaknesses in
your approach?
2) Can you give an example of when you had to manage a complex project and
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should contain examples of excellent, good, average, and unsatisfactory answers
Increased • candidates criteria against which candidates are assessed (i.e., what
is a ―good‖ answer?)
panel is used).
Interview panels
Using a panel of interviewers can help to minimize potential biases, as well as provide
the opportunity to compare evaluations of the candidate before a final decision is made.
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E-R ECRUITMENT
The buzzword and the latest trends in recruitment is the ―E-Recruitment‖. Also known as
―Online recruitment‖, it is the use of technology or the web based tools to assist the
recruitment process. The tool can be either a job website like naukri.com, the
organization‘s corporate web site or its own intranet. Many big and small organizations
Posting the position with the job description and the job specification on the job
portal and also searching for the suitable resumes posted on the site corresponding to
Companies have added an application system to its website, where the ‗passive‘
job seekers can submit their resumes into the database of the organization for
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RESUME SCANNER
Resume scanner is one major benefit provided by the job portals to the organizations. It
enables the employees to screen and filter the resumes through pre-defined criteria‘s
Job sites provide a 24 x 7 access to the database of the resumes to the employees
facilitating the just-in-time hiring by the organizations. Also, the jobs can be posted on
the site almost immediately and is also cheaper than advertising in the employment
newspapers.
Sometimes companies can get valuable references through the ―passers-by‖ applicants.
Online recruitment helps the organizations to automate the recruitment process, save
candidates with the right skill sets and qualifications at the first stage.
organization.
c. A well defined and structured applicant tracking system should be integrated and the
d. Along with the back-office support a comprehensive website to receive and process
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Therefore, to conclude, it can be said that e-recruitment is the ―Evolving face of
recruitment.‖
a. Lower costs to the organization. Also, posting jobs online is cheaper than advertising
in the newspapers.
b. No intermediaries.
c. Reduction in the time for recruitment (over 65 percent of the hiring time).
d. Facilitates the recruitment of right type of people with the required skills.
g. Online recruitment helps the organisations to weed out the unqualified candidates in
an automated way.
h. Recruitment websites also provide valuable data and information regarding the
compensation offered by the competitors etc. which helps the HR managers to take
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Disadvantages of E-Recruitment:
Screening and checking the skill mapping and authenticity of millions of resumes is a problem
and time consuming exercise for organization.
c. d. In India, the employers and the employees still prefer a face-to-face interaction
Designing an attractive and relevant candidate experience, as the first step in the longer
employee journey, is very important. As we described in our article ―Where to start when
you want to improve the employee experience ―, not all the elements of the employee
journey are easy to change. Redesigning the recruitment process is probably one of the
easier ones. Recruitment is often a high priority (―We need new people, fast‖), and
recruitment is a process that many people understand. The big consultancy firms
generally do a good job in the initial phases of recruitment: their attractive business
courses for talented students, taking place at nice locations, are well known (and
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expensive). Designing a business course that is attractive is relatively easy, it is more
candidate experience.
Some interesting service providers in this area (and there are many more): Betagig
(―Beta test your next career with job shadowing opportunities‖), Jibe (―Build a better
talent pipeline with Jibe‘s candidate experience platform‖) and Meetandengage (group
2. Semi-automatic referrals
Recruiting via referrals is increasingly important for organisations. Where initially referral
programs worked mainly with money as a reward, you now see more game-like rewards
powered‖, of course). If you give the machine an indication of the type of candidates you
are looking for, it will start a broad search, and deliver a long-list of potential candidates
quickly. You can feed the machine with a list of requirements, but also with the profiles
of people who are already successful in your organisations (or other organisations) in
the domain where you are looking for candidates. This development will probably also
mean the end of the traditional job boards, where you can post vacancies. Why would
you need a job board, if your machine can search almost everywhere? Of course,
candidates need to be visible online, but today most candidates are visible. The
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software will also look at the personality profile of potential candidates, to check if there
is a match between the personality of the candidate and the ‗personality‘ of the
organisation.
helps to think less in terms of jobs and more in terms of assignments. There is an
assignment to be done, and how can we quickly find the best possible people who can
Organisations are less organised around fixed jobs, and more around flexible teams,
that look for suitable candidates in the internal- and external talent pool. Candidates are
recruited to strengthen a pool. It is important they have the right skills, and that they fit
improve the quality of selection a lot. especially in areas where performance can be
clearly shown and measured, developments are going fast. If you are coding software,
you feed the machine with a piece of code you have written, and then the machine will
determine how good you are, and in what type of team you will fit and add value, as
teams have different coding styles. No cv, no diploma, just some of the work you have
done.
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6. Chat bots to improve communication, and to
improve the recruitment process
Chatbots are in increasingly used in recruitment, to have conversations with candidates.
They can save recruiters a lot of time, by answering the first questions of candidates,
and helping to make the first selection. The chatbots can talk with applicants on the
website of organisations, but also through the various social media (Facebook chat,
2. Selection Process
4. Interviewing
6. Reference Checks
8. Documention
Don't let panic set in. Whether your departing employee was a strong or mediocre
performer, this is your opportunity to analyze and revise the position description, and
determine the qualifications, both technical skills and behavioral factors, you will seek in
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a new employee. Is this a time to reorganize, reclassify, or make other major changes?
Perhaps the position description needs only a few adjustments. Once you are sure that
the position description reflects accurately the responsibilities of the position, consider
the qualifications you will seek in a new employee. What technical skills will the
employee need to carry out their job duties? What type of job behaviors will they need?
Think about past employees in the position. If they were outstanding, what made them
outstanding. If they were marginal employees, identify their weaknesses. Talk with co-
workers or other managers. What skills and qualities do they value in this position?
Make a list. This information should guide you (and the Employment Manager) in
preparing job postings, newspaper advertisements, and planning the overall selection
process. Time invested in thoughtfully planning the recruitment and selection process
The Employment Manager in Human Resources coordinates the hiring process for
classified employees; to initiate a search, you must submit a Request to Hire form and
an updated position description. The Employment Manager will prepare a job posting
and a newspaper ad for your review based on information from the job description, and
can advise you on other parts of the recruitment and selection process.
If you have an unclassified vacancy, you should follow the academic appointment
process
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Selection tests
Purpose
Types
by the candidate due to his training and achievement for example typing test,
2. Aptitude test(Potential test): to judge latent ability to learn a new job, in order
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Selection Process
Once you have identified the technical skills and job attributes you are seeking in a new
employee, you should consider the most effective way to identify and assess these in
candidates. Go over the position description, point by point, and ask yourself, "How best
The job interview will be a primary source of information about applicants. However, it
may not be the best source for some information. A job reference may be the most
effective way to learn about dependability, follow through, and ability to get along with
Consider using work samples to ascertain specific job skills. For an office position,
applicants can be asked to complete a word processing exercise in which they prepare,
edit, and/or print documents. The supervisor evaluates and documents the quality and
quantity of work completed in the time allotted. Other examples include setting up a
identify repairs needed in a room or to actually perform a repair. One supervisor, hiring
a Plasterer, asked applicants to mix and apply plaster to a wall. The supervisor
evaluated and documented the results and used this information in determining the
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FOCUS OF THE PROBLEM
The insurance industry is expanding very fast and there is big scope in this sector in
future, insurance companies recruit efficient candidates and take work from them on
commission or performance bases. The whole growth of company depends upon the
capability of candidate.So the main problem is to recruit and select the capable
candidates.
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OBJECTIVES OF THE STUDY
To know the various profiles for getting capable Religare health Insurance
To know what are the qualification they need in particular candidate for different
profile .
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LIMITATIONS OF THE STUDY
Time was the biggest limitation. The project requires a thorough study which
The study is based on both primary as well as secondary data and has the
Questionnaire includes 12 question in which 7 was asked from the new comers
The research area was restricted only within the religare company .
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Chapter-3
INDUSTRY PROFILE
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INDUSTRY PROFILE
In India, insurance has a deep-rooted history. It finds mention in the writings of Manu (
such as fire, floods, epidemics and famine. This was probably a pre-cursor to modern
day insurance. Ancient Indian history has preserved the earliest traces of insurance in
the form of marine trade loans and carriers‘ contracts. Insurance in India has evolved
1818 saw the advent of life insurance business in India with the establishment of
the Oriental Life Insurance Company in Calcutta. This Company however failed in 1834.
In 1829, the Madras Equitable had begun transacting life insurance business in the
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Madras Presidency. 1870 saw the enactment of the British Insurance Act and in the last
three decades of the nineteenth century, the Bombay Mutual (1871), Oriental (1874)
and Empire of India (1897) were started in the Bombay Residency. This era, however,
was dominated by foreign insurance offices which did good business in India, namely
Albert Life Assurance, Royal Insurance, Liverpool and London Globe Insurance and the
Indian offices were up for hard competition from the foreign companies.
India. The Indian Life Assurance Companies Act, 1912 was the first statutory measure
to regulate life business. In 1928, the Indian Insurance Companies Act was enacted to
enable the Government to collect statistical information about both life and non-life
insurance societies. In 1938, with a view to protecting the interest of the Insurance
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INTRODUCTION TO THE INDUSTRY
1.1 Introduction
The insurance sector was opened up in the year 1999 facilitating the entry of
private players into the industry. With an annual growth rate of 24.31 percent and the
largest number of life insurance policies in force, the potential of the Indian insurance
industry is huge. The year 1999 saw a revolution in the Indian insurance sector, as
major structural changes took place with the ending of Government monopoly and the
passage of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting
entry restrictions for private players and allowing foreign players to enter the market with
According to the CSO, the insurance and banking services‘ contribution to the
country‘s GDP is 7.1 percent out of which the gross premium collection forms a
significant part. Life insurance penetration in India was less than 1 percent till 1990-91.
During the ‗90s, it was between 1 and 2 percent and from 2001 it was over 2 percent. In
The impetus for increase is due to the active role played by IRDA in licensing
private players and taking positive steps in increasing the insurance awareness among
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the people. Besides, the insurance companies in general and private insurance
companies in particular, are reaching out to untapped potential in rural areas with
aggressive campaigns.
fledgling private insurance companies to sign up Indian customers faster than anyone
expected. Life insurance is viewed as a tax saving device. People are now turning to the
private sector for providing them with new products and greater variety for their choice.
The improvement in FDI flows reflected the impact of recent initiatives aimed at creating
an enabling environment for FDI and for encouraging infusion of new technologies and
management practices. The Government‘s proposal to increase the FDI cap in the
1.1.1 Definition
premium assumes particular risks of the other party and promises to pay to him or his
--- E.W.Fitterson
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risk of economic loss common to all members of the group.‖
---Encyclopedia Britannica
spread the loss caused by a particular risk over a member of persons who are exposed
to it and who agree to insure themselves against risk. Insurance does not eliminate risk
but only reduces the financial burden, which may be very heavy.
In the days of yore insurance was in its crude form and was cooperative and
voluntary in nature. When, where and how it originated is still a matter of research in
one way or the other was prevalent in olden days. We can trace its history from the
evolution society from hunting stage to the modern industrial age. A word
―YAGCHHEM‖ occurs in the world‘s most ancient Hindu Scripture Rig Veda.
The word ―YAGCHHEM‖ means insurance. It clearly indicated that about four
thousand years ago insurance was prevalent in its crude form. It was cooperative and
voluntary in nature. People formed different groups of organizations to share the loss
among themselves in case of a particular risk. Each member contributed some amount
to a common fund to meet the unforeseen losses. Sometimes they also contributed
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the ancient world are also found in the form of marino trade loans or carriers contracts
made in Babylonia and India at quite an early period. References were made to the
Rig-Veda in which the well being and security of the community was aimed at. However,
there is no evidence that insurance in its present farm was practiced prior to twelfth
century.
event such as sudden death of the bread winner, marine perils in marine
insurance, fire in the fire insurance and theft insurance etc. in the case of general
insurance.
2. Cooperative device: A large number of persons agree to share the loss arising
3. Value of risk: The risk is evaluated before insuring to charge the amount of
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4. Payment made at contingency: The payment is made at a certain contingency
Functions of Insurance
A) Primary Functions-
administration.
2) Insurance provides protection: The risk will occur or not, when will occur and how
much loss will be there. There are uncertainties of happening of time and amount of
losses. The main function of the insurance is to provide protection against the
losses.
3) Risk sharing: Risk is uncertain and therefore, the loss arising from the risk is also
uncertain. All business concern faces the problem of the risk and if the concern is
device is the outcome of the existence of various risks in our day to day life. It
spreads the whole losses over a large number of persons who are exposed by a
particular risk.
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B) Secondary Functions-
1) Prevention of loss: Prevention is always better than cure. Prevention is by far the
best solution to the problem of risk. It is more effective and cheapest method to avoid
the unfortunate consequence. But sometimes prevention is not always possible and
Effective.
2) Provides capital: It provides the capital to the society. For plan development of
country there is a great need for huge amount of capital. Now days, the insurance
companies are rendering positive help in the development of trade, commerce and
3) Improves efficiency: Achievement of goals, it improves not only his efficiency of the
masses is also advanced. The insurance eliminates worries and miseries of losses as
death and destruction of property care free person can devote his energies for better.
4) Ensures the welfare of society: ―Insurance is a saga of service and security‖ to thee
society. Security of the life and property given by insurance bring peace of mind to
the insured. The investment in LIC in welfare schemes like electricity, housing, water
supply, agro industry estates are able to solve many problems in India.
5) Helps in economic progress: Insurance provides an initiative to work hard for the
betterment of the masses. Life insurance involves the element of saving investment
through small savings. And which has been growing in recent years at an annual
rate of about Rs. 400 crs. Life insurance is not a mere business organization; it has
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Insurance Industry
1.1.4 Introduction
With an annual growth rate of 15-20% and the largest number of life insurance policies
in force, the potential of the Indian insurance industry is huge. Total value of the Indian
insurance market (2016-17) is more than Rs.450 billion (US$10 billion). According to
government sources, the insurance and banking services‘ contribution to the country's
gross domestic product (GDP) is 6% out of which the gross premium collection forms a
significant part.
The funds available with the state-owned Life Insurance Corporation (LIC) for
investments are 8% of GDP. Till date, only 20% of the total insurable population of India
is covered under various life insurance schemes, the penetration rates of health and
other non-life insurances in India is also well below the international level. These facts
The year 1999 saw a revolution in the Indian insurance sector, as major structural
changes took place with the ending of government monopoly and the passage of the
Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry restrictions
for private players and allowing foreign players to enter the market with some limits on
Though, the existing rule says that a foreign partner can hold 26% equity in an
insurance company, a proposal to increase this limit to 49% is pending with the
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government. Since opening up of the insurance sector in 1999, foreign investments of
Rs. 8.7 billion have poured into the Indian market and 21 private companies have been
granted licenses.
fledgling private insurance companies to sign up Indian customers faster than anyone
expected. Indians, who had always seen life insurance as a tax saving device, are now
suddenly turning to the private sector and snapping up the new innovative products on
offer.
The life insurance industry in India grew by an impressive 36%, with premium income
from new business at Rs. 253.43 billion during the fiscal year 2016-2017, braving stiff
competition from private insurers. RNCOS‘s report, ―Indian Insurance Industry: New
Avenues for Growth 2012‖, finds that the market share of the state behemoth, LIC, has
clocked 21.87% growth in business at Rs.197.86 billion by selling 2.4 billion new
policies in 2016-17. But this was still not enough to arrest the fall in its market share, as
private players grew by 129% to mop up Rs. 55.57 billion in 2017-18 from Rs. 24.29
billion in 2016-17.
Though the total volume of LIC's business increased in the last fiscal year (2016-17)
compared to the previous one, its market share came down from 87.04 to 78.07%. The
14 private insurers increased their market share from about 13% to about 22% in a
year's time. The figures for the first two months of the fiscal year 2018-19 also speak of
the growing share of the private insurers. The share of LIC for this period has further
come down to 75 percent, while the private players have grabbed over 24 percent.
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There are presently 12 general insurance companies with four public sector companies
Though the focus of this market research report is on the potential growth on the Indian
Insurance Sector, it also talks about the market size, market segmentation, and key
developments in the market after 1999. The report gives an instant overview of the
Indian non-life insurance market, and covers fire, marine, and other non-life insurance.
The data is supplied in both graphical and tabular format for ease of interpretation and
analysis. This report also provides company profiles of the major private insurance
companies.
Size of the market and market share of life insurers, in INR (crore)
57
COMPANY PROFILE
ABOUT RELIGARE HEALTH INSURANCE
COMPANY:-
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Religare Health Insurance (RHI), the health insurance arm of Religare Enterprises
Launched in July‘12, Religare Health Insurance has made significant progress within a
short span of time, and is already operating out of 54 offices with an employee strength
of 1200, servicing more than 2.6 million lives across 300+ locations, including over
1100 corporate.
Besides REL, the other shareholders of Religare Health Insurance are Union Bank of
India & Corporation Bank. With RHI‘s operating philosophy being based on the principal
Religare Health Insurance currently offers products in the retail segment for Health
Insurance and Maternity along with Group Health Insurance and Group Personal
The company has been awarded for ‗Best Technology Innovation‘ at The Indian
Insurance Awards 2013 and also received the ‗Editor‘s Choice Award for Best Product
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Innovation‘ at Finnoviti 2013; it was recently conferred the ‗Rising Star Insurer Award‘ at
Religare Enterprises Limited (REL) is the holding company for one of India‘s leading
diversified financial services groups. REL offers an integrated suite of financial services
through its underlying subsidiaries and operating entities, including loans to SMEs,
Affordable Housing Finance, Health Insurance and Capital Markets. REL is listed on the
Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India.
As a group, Religare caters to almost every segment of the market from mass retail to
affluent, HNIs, mid-size corporates, SMEs to large corporates and institutions. With over
7000 employees, the group has a presence across more than 1450 locations pan India.
Lending
Health Insurance
Capital Markets
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Philosophy & Values
Religare is a Latin word that means to bind together. We chose this name to reflect the
integrated nature of our services. Our name is paired with the symbol of a four-leaf
only one four-leaf clover for every 10,000 three-leaf clovers found.
Each leaf of the Religare clover has a special meaning. It is a symbol of Hope, Trust,
beginning of every step and the foundation on which a person reaches for the stars.
The ability to place ones own faith in another. To have a relationship as partners in a
team. To accomplish a given goal with the balance that brings satisfaction to all, not in
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The third leaf of the clover represents Care
The secret ingredient that is the cement in every relationship. The truth of feeling that
underlines sincerity and the triumph of diligence in every aspect. From it springs true
warmth of service and the ability to adapt to evolving environments with consideration to
all.
The fourth and final leaf of the clover represents Good Fortune
Signifying that rare ability to meld opportunity and planning with circumstance to
Our Values
Passion - To demonstrate tremendous energy and enthusiasm at all times and act
Innovation - To constantly challenge the status quo and to look beyond mundane ways
Ambition – To think big: Aspire to achieve seemingly impossible and to set highest
standards of performance.
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and to adhere to defined processes and systems.
business groups / boundaries and to act to build a positive spirit, morale and co-
operation within and across teams, take action to resolve team conflict.
Staffing Agencies
A staffing agency that wishes to partner with us has to provide the necessary details
through this link. Registered agencies would be short listed by us on a periodic basis
for further evaluation. The evaluation process will consist of a multi-phase assessment
After completion of the document review and assessment based on various parameters
as applicable, a pilot agreement will be signed for a specific period with the qualified
Partners. On signing the agreement, the partner will be provided with a username and
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Password that would enable access to our recruitment portal. The partners would be
Subjected to constant evaluation during the pilot period to ensure that all our partners
during this period will govern the decision regarding the extension of the agreement.
The consultant should have worked on recruitment for more than 2 years.
Should be able to provide on-time resources for various skills and have a
proven record for the same with other organizations across locations and
geographies.
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Chapter 4
Company Business Partners
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Union Bank of India
Religare Health Insurance Company Ltd (RHICL) is exploring distribution tie-ups with
several banks as part of its attempts to expand its banc assurance channel, Managing
The standalone health insurer, which began operations in 2012, recently tied up with the
―We are in talks with multiple banks, both public and private sector,‖ Gulati
Asked if the company will accept a bank taking up the role of a broker for Religare‘s
health insurance products, Gulati said it was for the bank concerned to take a call .
*Economics Times
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Punjab National Bank:-
Punjab National Bank is among the largest and most respected bank in India with a 123
year old tradition of bringing value for money and convient banking solution to its
customers.
With the bank 7000 odd branches in India Religare will expands its footprints across the
country .Meanwhile PNB also reported a 12% rise in net profits at Rs.343.40 crore for
the June quarter against Rs 306.4 crore in the year ago period
*Indian Express
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Corporation Bank Of India
Religare is also a partner of corporation Bank Of India for providing the company
This alliance is in the line with the strategy of increasing its reach and penetration
Corparation Bank Of Indai Facilities the Company customers as well as the Bank also
facilitates the Religare employees and customers so this tie up will going to be fruitful
The internet trading facility or online trading services will be a part of a value added 3-in-
1 offering for the banks saving accounts customers and other facility enhances the
*Economics Times
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Chapter 5
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1. Care Freedom – Health Insurance without medical check –up.
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CHAPTER -6
SWOT ANALYSIS OF RELIGARE
HEALTH INSURANCE COMPANY
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STRENGTH High profitability and revenue
Future profitability
Growing demand
Global markets
Growing economy
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THREAT Rising cost of raw material
Financial capacity
STP
TARGETING
solutions
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Chapter -7
Research Methodology
74
REVIEW OF EXISTING LITETRATURE
Philip G. Swaroff, Lizabeth A. Barclay, Alan R. Bass(2006) has written in his article
relations between recruiting source, employee tenure and productivity were examined
for a sample of 618 technical salespersons over a 2-year period. Unlike earlier
research, a relation between recruitment source and job tenure was not found, nor was
differences between the present findings and earlier research include: characteristics of
this particular job; the fact that multiple jobs and levels were not always considered; and
the turnover rate of the sample job. Additional findings lent some support to Schwab's
(1982) suggestion that recruiting sources may be differentially effective to the extent
that they reach different populations. A comparison of research results with text book
presentations and practitioner articles is also provided, with a discussion of the gap
Charieoliver(2008) has said on her research paper that the key to successful
recruitment is to ensure that the criteria of suitability are overt and relevant to the job
itself. Once these criteria are agreed and shared it is possible to make more rational
decisions about someone's suitability for a job, based on evidence rather than ‗gut
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feeling‘ or instinct. Effective recruitment and selection should not be about the luck of
the draw. Systematic planning and preparation will increase the likelihood of taking on
the right person. The key to effective recruitment is preparation: knowing the job and
what is required of someone to perform it well. The costs of recruiting the wrong person
can be significant. The cost of employing someone may be at least twice their salary
when factors such as training, expenses and employer's contributions to their pension
are added.
Rakesh sharma(2008) has written in his book that a company's success begins in the
recruitment process during which the screening and vetting procedures shape and
qualifications and personal attributes are illuminated and used in the decision-making
editor.
applicants the individual best suited for a particular position based on conventional and
significant impact on the efficiency of the selection process. The selection process
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should provide as much reliable and valid information as possible about applicants so
that their qualifications may be carefully matched with the job requirements.
Advisorckman (2002) said in his book interviews are used widely for selection
purposes at senior or executive level (Campion, Palmer, & Campion, 1997; Garman,
2005). Research shows that to increase their reliability, validity and feasibility, interviews
should be based on a thorough job analysis and selection criteria, they should be semi-
interviews are often favoured over panel interviews, the modality of the interview should
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RESEARCH METHODOLOGY
Gurugram. This study also shows why people join insurance sector.
process at Religare health Insurance as a part of our course curriculum. The duration
The objective of the recruitment process is to obtain the number and quality of
employees that can be selected in order to help the organization to achieve its goals
and objectives.
Support the organization ability to acquire, retain and develop the best talent and
skills.
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Increase the effectiveness of various recruiting techniques
To know What are the qualities they are finding in a particular candidate for the
different profile
Research problem: Why candidates are leaving the organization after accepting
Research design: .Research design is the framework that has been created to
Sampling technique:
Primary source.
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Data collection procedure – Survey
Sample area –work done in guru gram in Religare Health Insurance Company.
PROJECT SCHEDULE:-
Analysis pattern:- pie chart and bar chart were used for analysis.
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CHAPTER -8
DATA ANALYSIS AND
INTERPRETATION
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1) What is the average time spent by the executive during recruitment (each
candidate)?
more, 12%
5 to 10 min,
25%
INTERPRETATION
The pie chart represent that result of question asked to the HR and candidates about
recruitment and selection of Religare Health Insurance Company 45% HR said that they
devote 1min to 5 min for those person who comes for the training purpose 25 % HR
said that they devote 5 min to 10 min for those candidate who come for the lower post
like BPO ,agents ,brokers.18% HR said that they devote 10min to 15 min for those
candidate who come for the executive profile ,bancca profile ,CRM.12% HR said they
take more time for the higher profile like managers, Senior executive .
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2) Which is the best sources for recruitment and selection process?
electronic
media
36%
consultant
44%
Figure:2
INTERPRETATION
The pie chart represent that result of question asked to the HR and candidates about
recruitment and selection of Religare Health Insurance Company 44% HR said that they
take help of consultant for recruiting the candidates.36% HR take help of electronic
media like Naukari.com , LinkedIn. 14% HR use internal references for the different
profile like CRM, Customer executive, online sales. 4% HR use other sources like
references from the outsiders like relatives or friend . 2% HR use print media like
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3) Better result of recruitment and selection process can be increase by
interview?
case study
question
2% others
problem 11%
question
13%
structured
54%
unstructured
20%
Figure 3
INTERPRETATION
The pie chart represent that result of question asked to the HR and candidates about
with the structured pattern like why you preferred this company , Tell me about yourself
etc.20% HR use unstructured pattern they usually they usually asked whatever they
want to. 13% HR asked problem solving question like they create some situation and
ask them to solve it or tell them how can you handle them .2% HR ask case study
question like give them KNACK game and tell them to play by this they check the
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4) What form of interview did you prefer?
video others
conferencing 5%
12%
telephonic
interview personal
25% interview
58%
Figure 4
INTERPRETATION
The pie chart represent that result of question asked to the HR and candidates about
recruitment and selection of Religare Health Insurance Company 58%HR take personal
interview as they think it‘s a good method to analyze the candidate, 25% HR take
telephonic interview for those candidate who are far away from the corporate office
12%HR prefer video conferencing who are far away from the location but they use this
method for the higher post like HR (AVP) .5% HR use other method like panel interview.
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5) How many stages are involved in selecting the candidate?
more two
4% 2%
three
12%
five
37%
four
45%
Figure 5
INTERPRETATION
The pie chart represent that result of question asked to the HR and candidates about
recruitment and selection of Religare Health Insurance Company 45% of the HR prefer
four rounds of interview 37%,HR refer five rounds for those who came for the executive
post or others 12% HR prefer three rounds 2% HR prefer two rounds and rest 4% prefer
more rounds.
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6) What is the reason behind candidates not going to join after selection?
what is the
reason behind
candidates not personal
going to join got another 8%
after selection? opportunity
0% 35%
salary problem
45%
not intresred
12%
Figure 6
INTERPRETATION
The pie chart represent that result of question asked to the HR about recruitment and
selection of Religare Health Insurance Company 45% HR said that they leave the
organization due to salary problem , 12 % HR said that they leave they organization due
to not interested in a particular profile ,35% HR said they got the opportunity in other
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7) Are rejected candidate informed by
Phone
Not informed 34%
54%
Figure7
INTERPRETATION
The pie chart represent that result of question asked to the HR about recruitment and
selection of Religare Health Insurance Company 54% candidates are not informed by
the HR , 34% candidates ate informed by the phone 10% candidates are informed by E-
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8) What are the sources for external recruitment are preferred ?
what are
thesources for
external are
preffered ?
casual
applicants campus 0%
25% interview
34%
Data bank
33%
Placement
agencies
8%
Figure 8
INTERPRETATION
The pie chart represent that result of question asked to the HR about recruitment and
selection of Religare Health Insurance Company 34 % they do campus interview for the
online sales and customer service profile 33% they follow the data bank 25% they follow
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9) What are the various job sites from which you source resumes?
linkedin.com
30% Naukari .com
59%
Figure 9
INTERPRETATION
The pie chart represent that result of question asked to the HR about recruitment and
when Naukari and linkedin sites are unavailable due to unavailable of the respective
profile .
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10) Which method do you mostly prefer for recruitment and selection preferred
way of recruitment?
Direct
65%
Figure 10
INTERPRETATION
The pie chart represent that result of question asked to the HR about recruitment and
selection of Religare Health Insurance Company 65% HR direct recruit the candidates
22% HR indirect method to recruit the candidates 10% HR recruit through reference
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FINDINGS
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CHAPTER-9
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RECOMMENDATION AND SUGGESTION:-
A) Compress the ―white space ―in your hiring process- white space are the delays in
hiring process that are unproductive, waste time and virtually assure you will lose
talented candidate.
Here at Religare health insurance company ,delays are occur when outstation
candidate are called for interviews at corporate office i.e. Guru gram .sometime of busy
schedule senior manager and sometime tight schedule of candidates the interview has
locations.
B) Tie up with the good consultant- As there are so many consultant attached to the
company but less are the resulting one and others usually take the things lightly and
come up with the negative results.so they should tie up with the productive consultant .
C)Know what you are looking for in candidate- it is observed that the candidates
sourced by placement agencies and send for further rounds for interviews are rarely
D) Blend technology into every aspect of your recruitment and hiring process—Web
based technology lets you increase hiring speed and quality while reducing cost
.companies have begun to use the web to collect and instantly match data on candidate
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E) Create winning impression even those who are not selected—it is very important to
create the favorable impression of your organization on those who come for interview
.Those who are not selected in the first round of personal interview should also carry
this impression that they have missed the opportunity to work in a great company .for
this there must a proper coordination of the interview of the candidate and greater
the good impression on the candidate even they are not selected for the respected
profile .
resolving the discrepancy because sometime employee failed to provide the documents
and get surprised that he/she working in the company from last 1-2 years and now they
are verifying their background which also creates embarrassment among them.
G) Somehow loopholes create from the starting when offer issuance request occur and
employee come for the joining , at that time HR Department should have to do the
proper documentation so that in future the BGV report will not be present and burden
H) The procedure of background verification should be done after the joining of the
candidate or within the one month after joining because sometimes employee working
from last two years and during verification Red report found for the employee which is
very disappointing for the company because when you terminate that person he/she will
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I) Day before joining HR Department should make sure that all the related documents
procedure has been delivered to the candidate so that none of the pendency would
J) The HR Department should have to focus on the point that person belongs from local
place or belongs from outside doesn‘t justify that who works better or who gives more
K) HR Department should have to ensure the Line managers that if any of the new
employee give the resignation within the two months of joining no replacement can be
done because it will take plenty of time and energy of HR Department to shortlist the
candidate and when he/she resigned again it is the responsibility of the HR Department
H) HR Department also have to take the measurable steps regarding no hiring will take
K) The top level management also have to focus that all the burden will not come on the
low level management from the side of superiors because they will get their
performance bonus but the off role employee has to suffer a lot so it would be
responsibility of the Head of the Department to evaluate the output on equal basis either
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CHAPTER-10
CONCLUSION
97
CONCLUSION
This presents the summary of the study and survey done in relation to the
is drawn from the study and survey of the company regarding the Recruitment
is not done objectively and therefore lot of bias hampers the future of the
develop and bring out innovations in all it activities .it is only when organization is
recognized for its quality that it can build a stability with its customers . Thus an
The first step in this direction is to ensure competitive people come in the
so that it is able to attract best in the industry in order to serve the best.
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CHAPTER-11
BIBLIOGRAPHY
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BIBLIOGRAPHY
BOOKS :
McGraw Hall.
WEBSITES
WWW.google.com
WWW.en.wikipedia.org
WWW.religare.in
WWW.citehr.com
WWW.scribd.com
WWW.hrschool.com
WWW.hrtrendsinsitute.com
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