TABLE OF CONTENTS

1. Executive summary
2. Overview of industry
• Introduction
• Overview of insurance sector
3. Company profile Vision
• Promoters
• Products offered
4. Research methodology
5. Objectives
6. Significance of the study
7. Scope and limitations of the study 8. Theoretical framework
• Factors affecting recruitment
• Recruitment policy
• Perquisites of a good recruitment policy
• Methods of recruitment Selection procedure
9. Existing procedure
• Recruiting an advisor
• Benefits for advisors
• Career progression for advisors
10. Data analysis and interpretations
11. Recommendations
12. Conclusion
13. Annexure
14. Bibliography
EXECUTIVE SUMMARY

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 EXECUTIVE SUMMARY

Today’s tight labour market is making it more difficult to find, recruit and select talented
people for an organization. The competition for talent is intensifying as there are fewer
qualified applicants available. This shortage of applicants makes it all the more important
for organizations to be able to effectively attract, select, and retain quality candidates.

With many organizations offering a number of job opportunities, candidates can afford to
be choosy when searching for their ideal job. Thus, the best searching procedure should be
adopted by an organization. Once the organization has successfully recruited candidates, it
must select the best one for the position under consideration. Organization uses various
tools to help them select an individual. The selection tool is designed to obtain behavioural
and motivational information about the candidates for effective selection system. For
example, behavioural interviewing is a popular selection activity in highly effective
selection system. In the future even more organizations plan to use this and other similar
tools more intensively to select employees. Organizations realize that having an effective
legally sound system in place is crucial to helping them select the right people for the right
job. Finally better recruitment and selection strategies result in improved organizational
outcomes. The more effectively organization recruit and select candidates, the more likely
they are to hire and retain satisfied employees.

In this project the different techniques adopted by the company towards this effect have
been identified. ICICI PRUDENTIAL, which is multinational company, has been chosen
for studying their methods of recruitment and selection function because it has the
probability of achieving more than 50% of the people to be placed for the right job, which
reflects some of the unique ways for recruiting the candidates to fill up various vacancies.

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OVERVIEW OF
INDUSTRY

4
 INTRODUCTION

The recruitment and selection procedure of the company determines the level of achieving
organizational goals in the long run. As per definition it is all about selecting right person
for the right job at the right time at the best possible position. Although it sounds quite
simple but it is also not an easier job to evaluate a person with his knowledge, skills and
abilities that may satisfy the core competency for the job so that his degree of willingness
to pursue a job becomes positive. From job seeker’s perspective it is the core competency
which matters much for a job. So it is the effective recruitment and selection procedure
which determines not only the right candidate for a job but also a long-term
accomplishment of organizational goals.

In this project the different techniques adopted by the company towards this effect have
been identified. ICICI PRUDENTIAL, which is multinational company, has been chosen
for studying their methods of recruitment and selection function because it has the
probability of achieving more than 50% of the people to be placed for the right job, which
reflects some of the unique ways for recruiting the candidates to fill up various vacancies.
The aim of the company is to achieve overall organizational goal not only by way of
fulfilling the targeted top line but also employee satisfaction towards various position of
job to the maximum level.

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 OVERVIEW OF INSURANCE INDUSTRY

With largest number of life insurance policies in force in the world, Insurance happens to
be a mega opportunity in India. It’s a business growing at the rate of 15-20 per cent
annually and presently is of the order of Rs. 450 billion. Together with banking services, it
adds about 7 per cent to the country’s GDP. Gross premium collection is nearly 2 per cent
of GDP and funds available with LIC for investments are 8 per cent of GDP.

Yet, nearly 80 per cent of Indian population is without life insurance cover, health
insurance and non-life insurance continue to be below international standards. And this part
of the population is also subject to weak social security and pension systems with hardly
any old age income security. This, itself, is an indicator that growth potential for the
insurance sector is immense.

A well-developed and evolved insurance sector is needed for economic development as it

provides long-term funds for infrastructure development and at the same time strengthens
the risk taking ability. It is estimated that over the next ten years India would require
investments of the order of one trillion US dollar. The Insurance sector, to some extent, can
enable investments in infrastructure development to sustain economic growth of the
country.

With a large capital outlay and long gestation periods, infrastructure projects are fraught
with a multitude of risks throughout the development, construction and operation stages.
These include risks associated with project implementation, including geological risks,
maintenance, commercial and political risks. Without covering these risks the financial
institutions are not willing to commit funds to the sector, especially because the financing
of most private projects is on a limited or non- recourse basis.

Insurance companies not only provide risk cover to infrastructure projects, they also
contribute long-term funds. In fact, insurance companies are an ideal source of long-term
debt and equity for infrastructure projects. With long-term liability, they get a good asset-
liability match by investing their funds in such projects.

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IRDA regulations require insurance companies to invest not less than 15 percent of their
funds in infrastructure and social sectors. International Insurance companies also invest
their funds in such projects.
Insurance is a federal subject in India. There are two legislations that govern the sector-
The Insurance Act- 1938 and the IRDA Act- 1999.

LIFE INSURANCE MARKET:

The Life Insurance market in India is an underdeveloped market that was only tapped by
the state owned LIC till the entry of private insurers. The penetration of life insurance
products was 19 percent of the total 400 million of the insurable population. The state
owned LIC sold insurance as a tax instrument, not as a product giving protection. Most
customers were under- insured with no flexibility or transparency in the products. With the
entry of the private insurers the rules of the game have changed.

The 12 private insurers in the life insurance market have already grabbed nearly 9 percent
of the market in terms of premium income. The new business premiums of the 12 private
players have tripled to Rs.1000 crore in 2002- 03 over last year. Meanwhile, state owned
LIC's new premium business has fallen.

Innovative products, smart marketing and aggressive distribution- that's the triple whammy
combination that has enabled fledgling private insurance companies to sign up Indian
customers faster than anyone ever expected. Indians, who have 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 growing popularity of the private insurers shows in other ways. They are coining
money in new niches that they have introduced. The state owned companies still dominate
segments like endowments and money back policies. But in the annuity or pension
products business, the private insurers have already wrested over 33 percent of the market.
And in the popular unit-linked insurance schemes they have a virtual monopoly, with over
90 percent of the customers.

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The private insurers also seem to be scoring big in other ways- they are persuading people
to take out bigger policies. For instance, the average size of a life insurance policy before
privatization was around Rs.50,000. That has risen to about

Rs.80,000. But the private insurers are ahead in this game and the average size of their
policies is around Rs.1.1 lacs to Rs.1.2 lacs- way bigger than the industry average.

Few of the Life insurance policies are:

Whole life policies - Cover the insured for life. The insured does not receive money
while he is alive; the nominee receives the sum assured plus bonus upon death of the
insured.

Endowment policies - Cover the insured for a specific period. The insured receives money
on survival of the term and is not covered thereafter.

Money back policies - The nominee receives money immediately on death of the
insured. On survival the insured receives money at regular intervals during the term.
These policies cost more than endowment with profit policies.

Annuities / Children's policies - The nominee receives a guaranteed amount of money

at a pre-determined time and not immediately on death of the insured. On survival the
insured receives money at the same pre-determined time. These policies are best suited
for planning children's future education and marriage costs.
Pension schemes - are policies that provide benefits to the insured only upon
retirement. If the insured dies during the term of the policy, his nominee would receive
the benefits either as a lump sum or as a pension every month.

Since a single policy cannot meet all the insurance objectives, one should have a portfolio
of policies covering all the needs.

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COMPANY PROFILE

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 COMPANY PROFILE: ICICI PRUDENTIAL LIFE INSURANCE LTD.

Vision:
“To make ICICI Prudential the dominant Life and Pensions player built on trust by
world-class people and service.” This we hope to achieve by:

• Understanding the needs ofcustomers and offering them superior products and
service
• Leveraging technology to service customers quickly, efficiently and conveniently
• Developing and implementing superior risk management and investment
strategies to offer sustainable and stable returns to our policyholders
• Providing an enabling environment to foster growth and learning for our employees
• And above all, building transparency in all our dealings.

ICICI Prudential Life Insurance Ltd. is a joint venture between ICICI Company, a
premier financial powerhouse and prudential plc, a leading international financial services
group headquartered in the United Kingdom. ICICI Prudential was amongst the first private
sector insurance companies to begin operations in December 2000 after receiving approval
from IRDA.

ICICI Prudential's equity base stands at Rs.9.25 billion with ICICI Company and
Prudential plc holding 74% and 26% stake respectively. In the financial year ended March
31, 2005, the company garnered Rs.1584 crore of new business premium for a total sum
assured of Rs.13,780 crore and wrote nearly 615,000 policies. The company has a network
of about 56,000 advisors; as well as 7 bank assurance and 150 corporate agent tie-ups. For
the past four years, ICICI Prudential has retained its position as the number one private life
insurer in the country, with a wide range of flexible products that meet the needs of the
Indian customer at every step in life.

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Promoters:
ICICI and Prudential came together in 1993 to form Prudential ICICI Asset Management
Company, which has today emerged as one of the leading mutual funds in India. The two
companies bring together two of the strongest financial service brands in Asia, known for
their professionalism, excellent quality of service and long term commitment to you.
Riding on the success of this relationship, the two companies joined hands once more in
2000, to form ICICI Prudential Life Insurance, with a commitment to provide leadingedge
life insurance solutions. ICICI Company has 74% stake in the company, and Prudential plc
has 26%.

ICICI Company

ICICI Company is India’s second largest company with an asset base of Rs.1,06,812 crore.
ICICI Company provides a broad spectrum of financial services to individuals and
companies. This includes mortgages, car and personal loans, credit and debit cards,
corporate and agricultural finance. The Company services a growing customer base of
more than 7 million customer accounts and 5 million bond holders’ accounts through a
multi-channel access network. This includes about 450 branches and extension counters,
1675 ATMs, call centres and Internet companying (www.icicicompany.com). ICICI
Company posted a net profit of Rs.1,206 crore for the year ended March 31, 2005. ICICI
Company is the only Indian company to be rated above the country rating by the
international rating agency Moody’s and the only Indian company to be awarded an
investment grade international credit rating. The Company enjoys the highest AAA (or
equivalent) rating from all leading Indian rating agencies.
Prudential PLC

Established in 1848, prudential plc is a leading international financial services company in

the UK, with around US$250 billion funds under management and more than 16 million
customers worldwide. Prudential has brought to market an integrated range of financial
services products that now includes life assurance, pensions, mutual funds, companying,
investment management and general insurance. In Asia, Prudential is UK's largest life

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insurance company with a vast network of 22 life and mutual fund operations in twelve
countries - China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines,
Singapore, Taiwan, Thailand and Vietnam. Since 1923, Prudential has championed
customer-centric products and services, supported by over 60,000 staff and agents across
the region.

Distribution:

ICICI Prudential has one of the largest distribution networks amongst private life insurers
in India with a network of over 83,000 advisors, and having commenced operations in 207
cities and towns in India. These include Agra, Ahmedabad, Ajmer, Allahabad,
Amritsar, Aurangabad, Bangalore, Bareilly, Bhatinda, Bhopal, Bhubhaneshwar, Calicut,
Chandigarh, Chennai, Coimbatore, Dehradun, Durgapur, Faridabad, Goa, Guntur,
Gurgaon, Guwahati, Gwalior, Hyderabad, Hubli, Indore, Jaipur, Jalandhar, Jamnagar,
Jamshedpur, Jodhpur, Kanpur, Karnal, Kochi, Kolkata, Kolhapur, Kota, Kottayam,
Lucknow, Ludhiana, Madurai, Mangalore, Meerut, Mumbai, Mysore, Nagpur, Nasik,
Noida, New Delhi, Patiala, Pune, Raipur, Rajkot, Ranchi, Rourkela, Salem, Siliguri,
Surat, Thane, Thrissur, Trichy, Trivandrum, Udaipur, Vadodara, Vapi, Varanasi, Vashi,
Vijayawada and Vizag.

The company has seven bank assurance tie-ups, having agreements with ICICI Company,
Federal Company, South Indian Company, Company of India, Lord Krishna Company and
some co-operative companies, as well as over 160 corporate agents and brokers. It has also
tied up with organizations like Dhan for distribution of Salaam Zindagi, a policy for the
socially and economically underprivileged sections of society.

ICICI Prudential has recruited and trained about 50,000 insurance advisors to interface with
and advise customers. Further, it leverages its state-of-the-art IT infrastructure to provide
superior quality of service to customers.

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Products offered:

Life is unpredictable. But in face of adversity, our responsibilities towards our parents,
children and loved ones need not be compromised. Insurance planning equips you to
smooth out the uncertainties and adversities that life might send your way, so that the best
that life has to offer, secure in the knowledge that your beloved ones are well provided for.

ICICI Prudential offers a complete range of insurance products:

1. Protection Plans:

• Life guard

• Riders

2. Savings Plans:

• Secure plus

• Cash plus

• Lifetime

• Cash back
3. Children Plans:

• Unit linked regular premium

• Unit linked single premium Regular premium Smart kid

4. Investment Plans: Life Link

5. Retirement Plans:

• Life Time Pension

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 • Secure plus pension

• Forever life

• Life link pension

6. Group Plans

• Group gratuity plan

• Group term assurance

• Group superannuation plan

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 RESEARCH
METHODOLOGY

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 RESEARCH METHODOLOGY

The purpose of the methodology is to describe the research procedure. This includes overall
research design, the sampling procedure, the data collection method, and the analysis
procedures and methods.

In this study of recruitment and selection practices of ICICI Prudential Life Insurance Ltd.
descriptive type of research has been done for collecting the primary data. It includes
surveys and fact finding enquiries of different kinds. The major purpose of descriptive
research is description of the state of affair as it exists at present. Moreover the researcher
has no control over the variables under study; he can only report what is happening or what
has happened.

METHODOLOGY:

Study design:
Primary data, which has been collected by descriptive research, was based on the
structured questionnaires filled up by the sample employees. For secondary data collection
method the help of various reference books have been taken which are mentioned in
bibliography and also by way of surfing through the company website.

Sample size:
Out of total universe, 36 respondents have been taken for convenience.Here, employees are
selected randomly and interviewed. An in-depth interview is also conducted with the
Human Resource Head.

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Sampling design:
We would use the Probability Sampling method in designing of sample. This is simple
random line of sampling. Any one of the lot can be chosen. Here, everyone has a fair and
equal chance of being selected.
In probability sampling, the randomly selected people were given a questionnaire for filling
the desired information.

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OBJECTIVES

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 AIM OF THE STUDY

Recruitment and selection is a multifaceted concept. The relevance of recruitment and

selection is to determine the number of personnel required. The HR proceeds with the
identification of sources of recruitment and finding suitable candidates for employment.
Both internal and external sources of manpower are used depending upon the types of
personnel needed.

The aim of the selection policy is the selection of suitable candidate for a suitable job. The
selection procedure starts only when the recruitments are done, that is, the various suitable
candidate pool is made available. The selections are done from this pool.

This project has the following aims:

1. To understand the nature of recruitment and selection policy for acquiring suitable
personnel.
2. To understand the variables of recruitment and selection in ICICI Prudential Life
Insurance Ltd.
3. To identify the sources of manpower supply with a view to acquire the best possible
candidate.
4. To understand the procedure of recruitment and selection in ICICI Prudential Life
Insurance Ltd.
5. To understand the procedure of Recruitment and Selection in ICICI Prudential.
6. Finally to bring out the challenges ahead with respect to recruitment and selection
of advisors.

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 OBJECTIVE OF THE STUDY:

The primary objective of recruitment and selection policy is to find and acquire the suitable
candidates.
The objective of this study is to measure the importance or relevance of recruitment and
selection in ICICI Prudential Life Insurance Ltd. The primary objective measures the
overall perception and importance of recruitment and selection in the organization. The
domain of this study will include the selection of financial advisors of the company only.
The questionnaire has been framed to determine the importance and effectiveness of
recruitment and selection procedure as perceived by the employees of the company.

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 SIGNIFICANCE OF
THE STUDY

RECRUITMENT & SELECTION: A JUSTIFICATION

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Considering the importance and relevance of the subject, selection of this topic is very
obvious.

Basically recruiting is the discovering of potential candidates for actual or anticipated

organizational vacancies. It also can be said in another way that it refers to bringing
together those with jobs to fill and those seeking jobs.
It is important to study Recruitment and Selection because through it we can identify our
human resource needs. We can know what kind of people must be selected to fill up the
specified vacancies. The ideal recruitment effort will attract a large number of qualified
applicants who will take the job if it is offered. It should also provide information so that
unqualified applicants can self select them out of job candidacy, that is, a good recruiting
program should attract the qualified and not attract the unqualified.

In this project, study is done on recruitment and selection process of ICICI PRUDENTIAL
LIFE INSURANCE. To find out actual recruitment and selection process of the company is
my main objective of study. Earlier, various studies were made in automobiles industries,
pharmaceuticals industries and others. But this time, the insurance industry has been chosen
by the researcher to understand the image of the organization, attractiveness of the job,
internal policies, about the union (if any), Govt. requirement recruiting budgets etc.

Through this kind of survey we are able to identify the real recruitment program of the
company where for all kinds of operations technical level qualification is needed. The
various selection costs of the company are also identified. It is very interesting to study
recruitment and selection process as it will give light when the researcher will work in HR
department in his future corporate life.

SIGNIFICANCE OF THE STUDY

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Selection is a critical process these days because it requires a heavy investment of money to
get right types of people. If the right types of people are not chosen, it will lead to huge loss
of the company in terms of time, effort and money. Therefore, it is essential to devise a
suitable selection procedure. Each step in the selection procedure should help in getting
more and more information about the applicants to facilitate decision making in the area of
selection.
Scientific selection and placement of personnel will go a long way towards building up a
stable work force. It will keep the rates of absenteeism and labor turnover low and will
increase the morale of the employees. This will also enable the organization to achieve its
objectives effectively.

Managerial usefulness of the study:

By studying this crucial topic the managerial level of employees can get various useful
information like:
1. By finding the key result areas of employees, the skilled and potential employees
can be recruited.
2. To find the best match between job and employees so that best recruitment can be
achieved with respect to position.
3. To find the best candidate or employee for decreasing the rate of accidents in the
places of various jobs.
4. To build a contended workforce for the organization by giving employee jobs they
are capable of doing.

SCOPE AND LIMITATION

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 SCOPE AND LIMITATIONS OF THE STUDY
SCOPE:
The scope of this study is to observe the degree of satisfaction levels of the employer as
well as the employees towards the Recruitment and Selection Techniques adopted by the
company. The deviations if any, towards this effect have also been studied. Apart from
getting an idea of the techniques and methods in the recruitment procedures a close look
will be taken at the insight of corporate culture prevailing out there in the organization.
This would not only help to be familiar with the corporate environment but it would also
enable the researcher to get a close look at the various levels authority responsibility
relationship prevailing in the organization. This study also focuses on studying the various
techniques adopted by the organization to retain the new recruits.

The stipulated time for the project is insufficient to undergo an exhaustive study about the
topic assigned. Moreover the scope of the topic (Recruitment and Selection) is wide
enough, so it is difficult to cover the entire topic within the stipulated time, but still
whatever could be done towards this effect has been done.

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LIMITATIONS OF THE STUDY:

Analysing the recruitment and selection procedure of an organization takes a lot of time.
The organization hesitates in sharing the sensitive information about its employees.
Hence the survey would not give the real image of recruitment and selection policy of the
company.
Although serious efforts were made to collect the authentic and maximum information
from respondents, even then this study is subject to various limitations:

• First of all, the scope of sample size was confined to one department only, which would
have other wise made the study and observations more effective.
• Secondly, all the results and conclusions are drawn on the basis of whatever
information has been provided by the manager and other employees working in ICICI
Prudential Life Insurance Ltd. so there are chances of individual biasness as well.
• Thirdly, the stipulated time for the project is insufficient to undergo an exhaustive study
about the topic assigned and moreover the scope of the topic (Recruitment and
Selection) is wide enough, so it is difficult to cover all the topics within the stipulated
time.
• The researcher had to visit a number of times to all the managers and other working
staff for collecting the information. The managers were not able to give all the data at
one particular time.

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THEORETICAL
FRAMEWORK

26
 RECRUITMENT

INTRODUCTION:
Recruiting is the discovering of potential applicants for actual or anticipated organizational
vacancies. In other words, it is a ‘linking activity’ bringing together those with job and
those seeking jobs.
As Yodel and others point out: “Recruitment is a process to discover the sources of
manpower to meet the requirements of the staffing schedule and to employ effective
measures for attracting that manpower in adequate numbers to facilitate effective selection
of an efficient working force.”
Recruitment has been regarded as the most important function of personnel administration,
because unless the right type of people are hired, even the best plans, organization charts
and control systems would not do much goods.
Edwin B. Flippo views recruitment and selection as ‘positive’ and ‘negative’ activities
respectively. He says: “Recruitment is a process of searching for prospective employees
and stimulating and encouraging them to apply for jobs in an organization.”
It is often termed positive in that it stimulates people to apply for jobs to increase the
‘hiring ration’, i.e., the number of applicants for a job. Selection, on the other hand tends to
be negative because it rejects a good member of those who apply, leaving only the best to
be hired”.
Thus’ recruitment is the development and maintenance of adequate manpower resources. It
involves creation of a pool of available labor upon whom the organization can draw when it
needs additional employees.

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 FACTORS AFFECTING RECRUITMENT

Most of the organizations, whether large or small, do engage in recruiting activity, though
not to the same extent. This differs with:
1. The size of the organization;
2. The employment conditions in the community where the organization is located;
3. The effects of past recruiting efforts which show the organization’s ability to locate and
keep good performing people;
4. Working conditions and salary and benefit packages offered by the organization –
which may influence turnover and necessitate future recruiting;
5. The rate of growth of organization;
6. The level of seasonally of operations and future expansion and production programs;

7. Cultural, economic and legal factors, etc.

Factors governing recruitment may broadly be divided as internal and external factors.
The internal factors include:
(i) Recruiting policy of the organization;
(ii) Human resource planning strategy of the company;
(iii) Size of the organization and the number of employees employed;
(iv) Cost involved in recruiting employees, and finally; (v) Growth and expansion
plans of the organization.

The external factors include:

(i) Supply and demand of specific skills in the labor market;
(ii) Political and legal considerations such as reservation of jobs for SCs, STs, etc.
(iii) Company’s image-perception of the job seekers about the company.

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 RECRUITMENT POLICY

A recruitment policy asserts the objectives of the recruitment and provides a framework of
implementation of the recruitment program of an organization in the form of procedures.
As Yoder and others observe:
“Such a policy may involve a commitment to broad principles such as filling vacancies
with the best qualified individuals. It may embrace several issues such as extent of
promotion from within, attitudes of enterprise in recruiting its old employees, handicaps,
minority groups, women employees, part-time employees, friends and relatives of present
employees. It may also involve the organization system to be developed for implementing
recruitment program and procedures to the employed.”
Therefore, a well considered and pre-planned recruitment policy based on corporate goals,
study of environment and the corporate needs need to be developed which may avoid hasty
or ill-defined procedure and may go a long way to cater the organization with the right type
of personnel.
A good recruitment policy must contain these elements:
(a) Organization’s objectives - both in the short-term and long-term -must be taken into
consideration as a basic parameter for recruitment decisions and needs of the personnel
-area-wise, job-family-wise.
(b) Identification of the recruitment needs to take decisions regarding the balance of the
qualitative dimensions of the would be recruits, i.e., the recruiters should prepare
profiles for each category of workers and accordingly work out the main
specifications, decide the sections, departments or branches where they should be
placed and identify the particular responsibilities which may be immediately assigned
to them.
(c) Preferred sources of recruitment, which would be tapped by the organization, e.g., for
skilled or semi-skilled manual workers, internal sources and employment exchanges
may be preferred; for highly specialized categories and managerial personnel, other
sources besides the former, may be utilized.

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(d) Criteria of selection and preferences: These should be based on conscious thought and
serious deliberations. In some cases trade unions may be consulted in working out the
recruitment policy. In others, management may take the unilateral decision.
(e) The cost of recruitment and financial implications of the same.

A recruitment policy, in its broadest sense, involves a commitment by the employer to such
general principles as:
(i) To find and employ the best qualified persons for each job;
(ii) To retain the best and most promising of those hired;
(iii) To offer promising opportunities for life-time working careers; and (iv) To
provide programs and facilities for personal growth on the job.”

According to Yoder, “the recruitment policy is concerned with quality and qualifications
(viz., and Q1 and Q2) of manpower.” It establishes broad guidelines for the staffing
process. Generally, the following factors are involved in a recruitment policy.
(i) To carefully observe the letter and spirit of the relevant public policy on hiring, and,
on the whole, employment relationship;
(ii) To provide individual employees with the maximum of employment security,
avoiding, frequent lay-off or lost time;
(iii) To provide each employee with an open road and encouragement in the
continuing development of his talents and skills;
(iv) To assure each employee of the organization interest in his personal goals and
employment objectives;
(v) To assure employees of fairness in all employment relationships, including
promotions and transfers;
(vi) To avoid cliques which may develop when several members of the same household
or community are employed in the organization;

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(vii) To encourage one or more strong, effective, responsible trade unions among the
employees.

PREREQUISITES OF A GOOD RECRUITMENT POLICY

The recruitment policy of an organization must satisfy the following conditions:

(i) It should be in conformity with its general personnel policies;

(ii) It should be flexible enough to meet the changing needs of an organization;

(iii) It should be so designed as to ensure employment opportunities for its employees
on a long-term basis so that the goals of the organization should be achievable; and
it should develop the potentialities of employees;
(iv) It should match the qualities of employees with the requirements of the work for
which they are employed; and
(v) It should highlight the necessity of establishing job analysis.

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 METHODS OR TECHNIQUES OF RECRUITMENT

Dunn and Stephens summarize the possible recruiting methods into three categories:

Direct,

Indirect and

Third party.

DIRECT METHODS
These include sending traveling recruiters to educational and professional institutions,
employees’ contacts with public and manned exhibits. One of the widely used direct
methods is campus selection which involves sending of recruiters to colleges and technical
schools. Most college recruiting is done in co-operation with the placement committee of a
college. The placement committee usually provides help in attracting students, arranging
interviews, furnishing space, and providing student resumes. For managerial, professional
and sales personnel, campus recruiting is an extensive operation. For this purpose, carefully
prepared brochures, describing the organization and the jobs it offers, are distributed among
students, before the interviewer arrives. Sometimes, firms directly solicit information from
the concerned professors about students with an outstanding record. Many companies have
found employees' contact with the public a very effective method. Other direct methods
include sending recruiters to conventions and seminars, setting up exhibits at fairs, and
using mobile offices to go to the desired centers.

INDIRECT METHODS
Indirect methods involve mostly advertising in newspaper, on the radio, in trade, and
professional journals, technical magazines and brochures. Advertising in newspapers
and/or trade journals and magazines is the most frequently used method, when qualified or
experienced personnel are not available from other sources. Senior posts are largely filled
by such methods when they cannot be filled by promotion from within. Advertising is very
useful for recruiting blue-collar and hourly workers, as well as scientific, professional, and

32
technical employees. Local newspaper can be a good source of blue-collar workers, clerical
employees, and lower-level administrative employees. The main point is that the higher the
position is in the organization, or the more specialized the skills sought, the more widely
dispersed advertisement is likely to be. The search for top executive might include
advertisements in a national periodical; while the advertisement of blue-collar jobs is
usually confined to the daily newspaper or regional trade journals.

THIRD PARTY METHODS (TPMs)

The best management policy regarding recruitment is to look first within the organization.
If that source fails, external recruitment must be tackled. These include the use of
commercial or private employment agencies, state agencies, recruiting firms, management
consulting firms and recommendations or referrals by friends and relatives.
Private employment agencies are widely used. They charge a small fee from an applicant.
They specialize in specific occupations: general office help, salesmen, technical workers,
accountants, computer staff, engineers and executives. These private agencies are brokers
who bring employers and employees together. State or public employment agencies also
known as Employment or Labour Exchanges are the main agencies of public employment.
They provide a clearing house for jobs and job information. Employers inform them of
their personnel requirements, while job-seekers get information for them about the types of
jobs that are referred to by employers. These agencies provide a wide range of services -
counselling, assistance in getting jobs, information about the labour market, labour and
wage rates. Friends and relatives of present employees are also a good source from which
employees may be drawn. When the labour market is very tight, large employers frequently
offer their employees bonuses or prizes for any referrals that are hired and stay with the
company for a specific length of time. Some companies maintain a register of former
employees whose record was good to contact them when there are new job openings for
which they are qualified. This method of recruitment, however, suffers from a serious
defect that it encourages nepotism, i.e., persons of one's community are employed that may
or may not be fit for the job.

33
 SELECTION

Selection involves a series of steps by which the candidates are screened for choosing the
most suitable person for vacant posts. The process of selection leads to employment of
persons who possess the ability and qualifications to perform the jobs which have fallen
vacant in an organization. The selection procedure is concerned with securing relevant
information about an applicant. The objective of selection process is to determine whether
an applicant meets the qualifications for a specific job and to choose the applicant who is
most likely to perform well in that job.
Selection is a long process, commencing from the preliminary interview of those applicants
and ending with the contract of employment. The hiring procedure is not a single act but it
is essentially a series of methods or steps or stages by which additional information is
secured about the applicant. At each stage, facts may come to light, which may lead to the
rejection to the applicant. A procedure may be compared to a series of successive hurdles
or barriers, which an applicant must cross. These are intended as screens, and they are
designed to eliminate an unqualified applicant at any point in the process. This technique is
known as the successive hurdles technique. Not all selection processes include all these
hurdles. The complexity of a process usually increases with the level and responsibility of
the position to be filled.
According to Yoder, “the hiring process is of one or many ‘go, no-go’ gauges. Candidates
are screened by the application of these tools. Qualified applications go on to the next
hurdle, while the unqualified are eliminated.” Thus, an effective selection program is a non-
random process because those selected have been chosen on the basis of the assumption
that they are more likely to be “better” employees than those who have been rejected.
Selection processes or activities typically follow a standard pattern, beginning with an
initial screening interview and concluding with the final employment decision. The
traditional selection process includes: preliminary screening interview; completion of
application form; employment tests; comprehensive interview; background investigations,
physical examination and final employment decision to hire.

34
 SELECTION PROCEDURE

There is no shortcut to an accurate evaluation of a candidate. The hiring procedures are,

therefore, generally long and complicated. Many employers make use of such techniques
and pseudo-sciences as phrenology, physiognomy, astrology, graphology etc., while
coming to hiring decisions. However, in modern times, these are considered to be
unreliable measures.
The following is a popular procedure though it may be modified to suit individual situation:
 Preliminary interview: It is generally brief and does the job of eliminating the totally
unsuitable candidates. It offers advantages not only to the organization but also to the
applicant.
 Receiving applications: Application form is useful for several reasons. It gives a
preliminary idea about the candidate to the interviewer and helps him in formulating
questions to have more information about the candidate.

 Screening of applications: After receiving the applications they are screened by a

screening committee and a list is proposed of the candidates to be interviewed.

 Employment tests: Before deciding upon the job or jobs suitable for a particular
individual, one should know the level of his ability and knowledge. This will require
the use of employment tests. The employment test areas are as follows:

• Intelligence tests

• Aptitude tests

• Personality tests

• Interest tests

• Proficiency tests
 Employment interview: The several purposes of an employment interview are:

• To find out suitability of the candidate

35
 • To seek more information about the candidate

• To give him an accurate picture of the job with details of terms and conditions and
some idea of the organization as well.

 Physical examination: The pre employment physical examination or medical test of a

candidate is an important step in selection procedure. It discloses the physical abilities
of a candidate.

 Checking references: Prior to the final selection, the prospective employer normally
makes an investigation on the reference provided by the applicant and undertakes
more or less a research through searching into candidate’s past employment,
education, personal, reputation, etc..

 Final selection: After a candidate has cleared all the hurdles in the selection procedure,
he is formally appointed by issuing him an appointment letter by concluding with him a
service agreement.

36
37
 Fig.1. Steps in selection procedure

RECEPTION OF APPLICATIONS

PRELIMINARY INTERVIEW
P
S
I
C APPLICATION BLANK
A
L
L
Y EMPLOYMENT TESTS
U
N
F
I INTERVIEW
T UN UN
P FA FA
E VO VO REFERENCE CHECK
R RA RA (BACKGROUND INVESTIGATION ) WAITING
S BL BL
UN
O E E UNF LIST OF
FA
N PE SE AVO DESIRABLE
VO 40
FINAL SELECTION
A RS CO RAB APPLICANTS
RA
L ON ND LE BY INTERVIEWERS
BL
L NE IM PRE
E
Y L PR VIO
TE

38
EXISTING PROCEDURES

39
 EXITSTING PROCEDURE

ICICI PRUDENTIAL is a huge company; around 1900 employees are working in this
company. The company has a well established recruitment and selection policy. The
policy asserts the objectives of the recruitment and provides a framework of
implementation of their recruitment program in the form of procedures. This policy
involves filling vacancies with the best qualified individuals. There is no special occasion
or time for recruitment in ICICI Prudential. They are recruiting continuously, it means,
every day is a recruitment day for them. Whenever the company identifies recruitment
needs, the recruiters prepare profile for each category of workers and accordingly work
out the main specification, decide the sections and department where they should be
placed and identify the particular job responsibility which may be assigned to them. The
company follows various sources of recruitment. These are:-
1. Campus recruitment
- For this the company goes to the various colleges across the country and they recruit
fresh candidates from there.
2. Media
- The company also recruits through media. For this the company uses sources like
newspapers, magazines etc. They prefer this media basically when large volume
of people is required.
3. Web- based recruitment
- The company also gives recruitment notice in the web and they recruit through the
web.
4. Employee reference
- The company also recruits from friends and relatives of present employees.
5. Consultancy
- Whenever necessary the company takes the help of the consultancy for recruiting
candidates. This is also an important source for them.

40
Preferred sources of recruitment

Although there are various sources of employment, followed by the company, i.e.
external and internal sources but the company mostly prefers the external source for
recruiting the candidate.

Costs involved in recruitment

Costs play an important role in recruitment. The company incurs various types of costs.
These are:-
1. Travel cost ------ Cost incurred for traveling
2. Constancy cost ------- Cost paid to the constancy firm
3. Publication cost ------- Cost incurred for giving recruitment notice in newspapers and
magazines.
4. Re- location cost ------ Cost incurred for transferring employees in other departments
and branches.

Reservation of jobs for SCs, STs, etc.

The company does not follow any reservation policy for SCs and STs etc for recruiting
the candidates. They only look for the eligible candidates.

Criteria for the candidate

Mainly the criteria are role dependent. It depends on the job of the candidate. But the
candidates require highly personal and technical skills. The company looks for both
freshers and experienced candidates. But in case of experienced candidates, minimum
two years of experience is required.

Employees turnover ratio

Employees turnover ratio in the company industry is 16%, where as in ICICI Company it
is only 8%. So, it is reasonably less compare to others.

Steps taken by the company to reduce employee turnover ratio

The company has taken various steps to reduce employee turnover ratio. Such as

41
1. Encouraging job satisfaction
2. Building organization culture/ working environment, so that the employees can be
retained.
3. Career growth opportunity

Selection procedures followed in the company

Candidates are recruited on the basis of written test and interviews. Candidates must have
good analytical reasoning ability and logical power.
Candidate has to go through three interviews in the selection process. Among them two
technical interviews and one Human resource interview is conducted. The company looks
for technical and job specification both in the candidate.

Job specification and Job description

The company follows both Job specification and job description. For job description,
document for the next job is available to all the employees of the company. By this, the
employees can already be aware about the next jobs they have to perform and it creates
the delta between the current role and the new role of the employees. By this the
employees can upgrade or prepares themselves for their new job.

Faulty selection
According to the interview with the H.R. manager, it can be inferred that the company
has rarely suffered from any faulty selection procedure. The recruitment and selection
procedure in ICICI Prudential is dynamic in the past years. That means it keeps on
changing every year and it always remains updated.

42
 CHANGES IN RECRUITMENT AND SELECTION PROCEDURE

Every year there are some changes take place in recruitment and selection process for
better result and production. It is such an industry where in every moment some
innovation takes place. So the company needs some new skills to achieve the required
fulfilment.
For the last couple of years the company is focusing more on campus interview to give
more chances to the fresher. This reflects the company’s recruitment policy, the
company’s needs for greater committed employee and also motive behind concentrating
more on freshers, as it is the belief from company’s perspective to be working smartly
with full enthusiasm. They are also updated with the current concepts, which are required
in company industry. The company is dealing in making, developing and maintaining the
packages. The companies target audience is foreign market. Most of the customers come
from abroad. For these very reasons employees have to conduct project in foreign
countries. That’s why freshers are targeted to fill up the vacancies.

43
 EFFECT OF CHANGES OF RECRUITMENT AND SELECTION
PROCEDURE TOWARDS GRATITUDE OF EMPLOYEES

As most of the candidates comprise the group of freshers, so it is quite obvious that the
degree of commitment towards the organization will automatically be more from their
side as compared to the experienced ones.
It is also felt that unlike the experienced candidate, the freshers find it difficult to get a
job easily. As it is obvious from the fact that the experienced candidates demand high
value in the market for employment opportunity, the changes during the past few years
will give an idea of how they get themselves updated with the needs of the industry. It
also gives an idea of any third party intervention in the recruitment and selection
procedure of the organization. It depends upon the market demands of the particular
industry as to how the candidates would be available for service in the prospective
sectors.
For example, two years back due to September 11, attack there was a great recession in
the global company industry which let to decrease of about 25% in the wages of its
employees. Since compensation is the basic factor of motivation of employees so it
decreased the commitment, gratitude, dedication of employees towards the organization.

44
 RECRUITING AN ADVISOR

The process of recruiting an advisor involves five basic steps:

1. Prospecting
2. Suspecting
3. Sales pitch
4. Formalities
5. Depositing the form
6. Appearing for the licensing exam
7. Getting the license

Prospecting:
It includes identifying people who will be willing to and interested in becoming insurance
advisors with ICICI Prudential Life Insurance. Random sampling or market visits, tele
calling, existing databases or references do this. These people can be anybody ranging
from an unemployed seeking an opportunity or anyone who is already working but
desires to have an extra source of income or someone who has extra time and wants to
pursue it as a part time and earning with it. Anybody, a housewife, a student, a
businessman, or a professional can take up this opportunity.

Suspecting:
It consists of judging such people whether they would be fit for being an insurance
advisor with respect to their qualifications, skills, confidence, etc. after doing so the next
step is fixing appointments with them to give all the information and completing the
formalities.
Sales pitch:
This involves the Business Opportunity Presentation(BOP) that gives the prospective
advisor all the information about the company’s background and history, the job profile,
the payments and benefits, the skills required, the training requirements and options, the
formalities to be completed, and any other information they wish to know.

Formalities:
Once the above is done, the next step is to complete all the formalities by filling the
“Insurance Advisor Form” along with all the necessary and important documents which
are 7 passport size photographs, a demand draft of Rs.1000, age proof, education proof
and address proof.

Depositing the form:

The completed form along with all the required documents is to be deposited for
processing and recording the data after which the employee can proceed for the
mandatory 100 hours training.

45
Appearing for the licensing examination:
The next step is to appear for the IRDA licensing examination. It is a 100 marks exam
and the appearing candidate is required to obtain at least 50 marks to clear the
examination.

Get the license:

Once the candidate passes the examination he’s issued a license after which he can start
working as an insurance agent for the company.

BENEFITS PROVIDED TO THE ADVISORS

As a life insurance advisor with ICICI Prudential Life Insurance one would enjoy the
following benefits:

Enriching training programs:

An intensive training program is provided before you commence your new career. This
would equip you with all the information and knowledge about life insurance, its benefits
and the products. This way you would perform your job better and meet your goals. You
would also enjoy the benefits of continuous training and mentoring programs that are
designed to update you, apart from enhancing your selling skills.

Mentoring:
Company provides training and support to meet your goals. You also get an opportunity
to learn from industry experts.

Flexibility:
You are free to decide your own working hours and earning goals. It’s only your
imagination that can act as a limiting factor.

Satisfaction:
You will help people manage their assets and plan their financial security, and experience
deep satisfaction from making a positive difference in others lives. You act as a strategist
in annuities, business insurance, estate planning and personal investment, providing both
short term and long term solutions to financial risk.

46
Freedom:
You can continue with present job occupation if you so desire and treat this as a parallel
source of income. This allows you with the time to decide if you want to take the job of
an insurance advisor as a full time activity or only as a part time.

Earnings:
You entitled to a percentage of premiums as commission till the lifetime of the policies
sold by you as well as bonus commissions.

Additional:
Apart from earnings, you are also awarded for your high performance which might
include palmtops, planners, leather portfolio bags, offsite conferences, foreign trips and
sales promotion schemes and much more.

CAREER PROGRESSION FOR THE ADVISORS

Once a person joins ICICI Prudential as an Insurance Advisor, his career doesn’t
stagnate there. He will have unlimited opportunities. The following are some of the
programs that will enable advisor to secure a higher position in future.

Tiger Team
• Exclusive program for high potential achievers

• Hand picked advisors

• A fast track career Recognition as “Tiger” Performance criteria:

- Age 25 to 40yrs
- At least 1year in system

- Case count 2 per month

Mobile Tiger
• Part time career as “Trainer”

47
 • Conduct foundation programs

• Share best field practices

• Performance Criteria:
- Age 25 – 45 years
- At least 6 months in system - Case count 2
per month

Pinnacle program
• A full time career as a “Unit Manager”

• Growth within ICICI Prudential

• Greater earning potential & Personal development Performance Criteria:

- Age 25 – 45 years
- At least 1 year in system

- Case count 2 per month

Fast Track Pinnacle Program

• A full time career as a “Unit Manager”

• Growth within ICICI Prudential

• Greater earning potential & Personal development Performance Criteria:

- Age 25-45 years

- At least 1yr in system

- 30 issuances of advisors within 6 months

Agency Champion
• Take your business to next 5 level

48
• Entrepreneurs, develop your own business

• Recruit new advisors and make your team Performance Criteria:

- At least 1yr in system

- Minimum 36 policies & 3.6 lakhs premium

- Selection process (assessment centre)

49
 DATA ANALYSIS
AND
INTERPRETATION
ANALYSIS OF QUESTIONNAIRE FROM EMPLOYEES’ PERSPECTIVE
ABOUT RECRUITMENT AND SELECTION PROCEDURE OF ICICI
PRUDENTIAL

1. WORKING PERIOD OF EMPLOYEES IN THE COMPANY

50
 WORKING PERIOD OF EMPLOYEES IN THE COMPANY

The above chart depicts that most of the employees are doing service. As per the survey
of 36 employees most of the employees are young in the organizations, they don’t have
the past experience of any change in recruitment and selection.
On a survey of 36 employees done, it has been shown that employees completed 1 year

of service comprised 37%. Similarly employees 1-2 years of service comprise 36%. But
there is only less number of employees there about between 2-3 years 1comprised 2 19%.

The rest i.e. 8% comprised of the group of people who have been in the organization for
3-5 year.

2. CANDIDATES’ WILLINGNESS TO JOIN THE COMPANY

Most of the Indian candidate looks in for the salary package and job security before
joining a company for job. All other things such as Reputation of the company, working
environment, job prospects, location of the company, career growth opportunity, are seen
either in isolation or in combination to each other as a whole as shown in the graph
below:

51
 Factors for joining ICICI Prudential

Reputation of the
33% 6% company
3% Working environment

Salary package

22% Job prospects

11% Location of the

company
Career growth
25%

From the data provided by the sample, it follows that out of 36 employees 9 joined the
company due to its reputation while 12 were attracted by its salary package. 8 employees
emphasize on the career growth in the company while 4 were impressed by the working
environment. Most of the employees are least concerned with the location of the
company.

52
 3. RECRUITMENT PROCEDURE FOR CANDIDATES

Selection procedure

others

Written exam,
GD, Interview
Series1
Written exam
& interview

Written exam

0 5 10 15 20

From the chart it is quiet clear that the company adopts various processes for recruiting the
right candidate. Actual recruitment procedure followed by the company is by conducting
written examination followed by a group discussion and then a final interview which
comprised 47% of sample survey of 36 employees.
But still some candidates are also chosen through written exam & interview and comprise
31%. 17% are selected through written only and others comprising only 5%. These ‘others’
include the reference of the existing employees within the organization itself.
As it is private company most of recruitment is done through campus selection, the
candidates are selected by way of testing their knowledge and technical skills in their
prospective fields. For that very reason written test followed by a group discussion and a
personal interview is given most priority.

53
 4. ELIGIBILITY CRITERIA FOR RECRUITMENT

Qualification requirement

Post Graduate
freshers

Post graduates
y
ti with experience
lib
i
g
iE
l CA

Graduates

0 2 4 6 8 10 12 14
No. of candidates

The above chart depicts that the minimum qualification required to be an advisor is
graduation. Preference is given to candidates having a post graduation degree with
experience. From the responses given by the employees its clear that equal preference is
given to candidates who are either CAs or are having a post graduation degree with
experience. Fewer graduates are hired but those who hired must have experience in the
same industry. Post graduate freshers are also preferred as most recruitments are done
through campus recruitments.

54
 5. SRATEGIES FOR RETAINING EMPLOYEES
4 options were given to the employees to know what the organization is doing to reduce
employee turnover ratio. These are: -
 Better salary package
 More benefits

 Changing / Improving working conditions

 Better promotion / Career Development Opportunity

6% 19%
11%
Better salary package

More benefits
14%

Better promotion /
Career Development
Opportunity

50% Improving working

conditions
Can’t say

After summarizing the entire 36 respondents’ the following analysis can be given:
 Better salary package (7)

 More benefits (5)

 Changing / Improving working conditions (4)

 Better promotion / Career Development Opportunity (18)

 Can’t say (2)

INTERPRETATION

55
• From the analysis it is clear that more than 91% of the employees are working in
the company, for a period of less than 3 years. Only 8.33% of the employees are
working in the company having completed more than 3 years. So it is evident that
the employees of the ICICI PRUDENTIAL LIFE INSURANCE are much
younger. It indicates the recent trend of recruiting fresh candidates by the
organization.
• Most of the employees (28%) have mentioned the salary package as a reason for
joining the organization. 16% of the employees have mentioned or pointed it out
the working environment as the reason for joining the organization. 17% talked
about the reputation of company and 23% mentioned about career growth
opportunity. So it can be said that the salary package and career growth
opportunity are the more attractive to the employees.
• Almost every respondent said that they had got specified job offered to them. So
it can be concluded that the organization follows job specification in case of
recruiting the candidates.
• Every employee is satisfied about recruitment and selection procedure prevailing
out there. They also think the process as fair enough. It also shows the credit of
the company. The organization has developed such a policy of which every one is
satisfied.
• The company has no trade union. So all the employees have either directly contact
the management for sorting their individual problems or through a particular
channel of span of control. It develops a better relationship between the
employees and management which is the main criteria of effective working
environment.
• For the last couple of years company is going more for Campus Recruitment
which indicates that the company prefers more fresh candidates who are much
more enthusiastic and dedicated to their job.

• People don’t want to choose this profession because of distributing the

commission with the clients and also because of their busy schedule.

56
• People are sometimes rude and unapproachable that makes difficult to
communicate with them.
• When we talk of popularity no doubt that LIC is on top but ICICI Prudential is
No.1 among the private players.
• People still have inhibition about private players in insurance sector.
• Training and test centres are limited so it’s difficult for people to commute.
• Since ICICI is a brand name among people so it is an advantage for ICICI
prudential in making a good position in the market.

57
RECOMMENDATIONS

58
 RECOMMENADTIONS

1. After looking at and analysing all the criteria, it’s found that the company lacks little
bit in job security. The employees also not very much satisfied with job security. So
to gain the confidence of the employees the company should improve job security.
2. It is important to create awareness about the Insurance sector and its liberalization
because even now people know only about LIC and also don’t have much faith in the
private insurance players.

3. Training and test centres are limited so it is difficult for people who stay away from
these places to commute, so the company should open new training centreslocated
centrally accessible by people from all location.

4. Company should go more for Campus Recruitment as the company will have more
fresh candidates who are more enthusiastic and dedicated to their job.

5. The inhibition of people about private players in insurance should be removed.

59
CONCLUSION

60
CONCLUSION

In today’s scenario there is a lot of potential for the growth of insurance sector as people
are becoming more and more concerned about the safety and security of themselves and
their loved ones. This increasing awareness and concern about the need for insurance
requires the presence of expert people who can guide and advise people about insurance
and suggest them the products that fit their needs perfectly.

An insurance advisor is the one who can take up this responsibility and help people in
this. It will not only be beneficial for the society but will also give the person a golden
opportunity to grow, learn and achieve more. And with a back up of a reputed company
like ICICI Prudential Life Insurance Ltd. there seems no barrier in achieving this.

61
ANNEXURES

62
 QUESTIONNAIRE

1. How candidates are recruited in the company? (Tick any one)

(i) Written exam
(ii) Written exam and interview
(iii) Written exam, GD and interview
(iv) References

2. What is the working period of employees in the company? (Tick any one) (i) Within 1
year
(ii) Between 1-2 years
(iii) Between 2-3 years
(iv) Between 3-5 years

3. What are the reasons for the candidate to join the company? (Tick all that apply)
(i) Reputation of the company
(ii) Salary package
(iii) Working environment
(iv) Job prospects
(v) Location of the company
(vi) Career growth opportunity

4. Did you get the same job specification as offered during the interview?
• Yes
• No

5. What are the eligibility criteria for recruitment?

• Graduation
• Post graduation (fresher's)
• Chartered Accountant

63
 • Post graduation(with minimum 2years of experience)
6. Which method is used for bulk recruitments?
• Advertisement
• Campus recruitments
• Govt. agency
• References

7. Is the organization doing anything to reduce the employee turnover ratio? (Tick all that
apply)
• Better salary package
• More benefits
• Changing / Improving working conditions
• Better promotion / Career Development Opportunity

8. Are you satisfied with the salary and job security provided by the company?
• Yes
• No

9. Is your company providing better career prospects for its employees?

• Yes
• No

64
BIBLIOGRAPHY

65
 REFERENCES

• DeCenzo, David A and Robbins, Stephen P,: “Human resource Management”

Prentice Hall India Private Limited (2000)
• Chabbra, T.N, “Human Resource Management (2004)”; pp 161-191
• Mamoria, C.B and Gankar, S.V: “Personnel Management- Text and Cases”
Himalaya Publishing House,
• ICICI company manual http://www.iciciprulife.com/

66