ANALYSIS OF RECRUITMENT & SELECTION STRATEGIES
ICICI PRUDENTIAL LIFE INSURANCE LTD.
Submitted To: Submitted By: Preeti Dhanetwal Asha jainani M.B.A 1styear
The beatitude, bliss and euphoria that accompany successful completion of any task would not be complete without the expression of appreciation of simple virtues to the people who made it possible. So, with reverence, veneration honor I acknowledgement all those whose guidance and encouragement has made successful in winding up this. I take this opportunity to thank Mrs. Preeti for her support and encouragement which helped me in the completion of this report. I extend my gratitude and thankfulness to Arya College of engee. And research center.
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.
In the present business environment, organizations are faced with the pressure to produce maximum with less recruitment. An employee, on whom an organization’s profitability depends, comprises the largest fixed cost that an organization incurs. In the past, individual used to work with one or two organization during their entire working life (average between 20-30 years). Organization too used to believe in lifetime employment concept. However, such concepts are being eroded as a result of the unpredictable business environment. Hence, organizations have to evolve methods not only to only improve productivity but to also keep the cost down.
On the HR front, productivity can be improved by ensuring that the organization attracts the best talent at the lowest possible cost. This objective translates in to the adoption of the best recruitment and selection methods and instituting measures to retain and develop them. Further, a quantitative measurement or recruitment and selection effectiveness has to be conducted to prove one’s point with respect to qualitative measure to improve HR effectiveness, the field in still in its nascent stage.
The objective of this study is to measure the Recruitment and Selection practices and strategies in ICICI PRUDENTIAL LIFE INSURANCE LTD. The primary objective is to analyze how the overall recruitment and selection is done in the company during the year. The primary objective is well supported by a secondary objective which aims at the in-depth study of those procedures which affects the Recruitment and Selection practices.
TABLE OF CONTENTS
1. Executive summary
2. Overview of industry
• Overview of insurance sector
3. Company profile
• Products offered
4. Research methodology
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
Today’s tight labor market is making it more difficult to...