CHAITALI FINAL RESEARCH PROJECT

A STUDY ON TALENT MANAGEMENT STRATEGIES FOR
ACQUIRING AND RETAINING THE BEST AND THE
BRIGHTEST EMPLOYEES ON INDIAN CONTEXT,
BANGALORE
Submitted in partial fulfillment of the requirement of the
Master of Business Administration [MBA] Course of
Jain University
Submitted
by
Chaitali Deb
3rd
Semester
13MBA63020
Under the Guidance of
Dr. M.M Bagali
2013-2015
319, 25th Main, 17th cross Rd, JP Nagar VI Phase, J. P. Nagar, Bengaluru,
Karnataka 560078

DECLARATION
I, hereby declare that this summer internship programme -“A STUDY
ON TALENT MANAGEMENT STRATEGIES FOR ACQUIRING AND
RETAINING THE BEST AND THE BRIGHTEST EMPLOYEES ON
INDIAN CONTEXT, BANGALORE.” For partial fulfillment of the
requirement of the Masters in Business Administration Programme offered by
Jain University is prepared by me during the academic year 2013-2015 under
the guidance of Dr M.M Bagali, HR Head CMS Business School (Faculty
Guide) & Mr. JAYACHANDRA V, Head HR-Karnataka, BALIC (Company
Guide)
This project is not based on any previously submitted project for the award of
any degree or diploma offered by any university. It is the result of my own
effort.
Name : CHAITALI DEB
SEM: 3rd Semester
Sec: ‘E’
Reg. No. : 13MBA63020
Date: 3/11/2014
Place: Bangalore
Signature

Acknowledgement
Firstly, it is my privilege to thank Prof. N V H KRISHANAN, Registrar and
Prof. DINESH NILKANT, Center Head, CMS Business School, JAIN
University for making me uses all the technical facilities in the college and for
his continuous support and encouragement in my endeavor.
I take the opportunity to express and share my sincere gratitude and
thankfulness to all those who helped me in making my internship at Bajaj
Allianz Life Insurance Company a success. I would like to thank Mr.
Jayachandra V, the Head HR-Karnataka, BALIC (Bajaj Allianz Life Insurance
Company) for being a wonderful mentor during my internship. The space and
time that he provided to me at BALIC did certainly condition me in a very
positive manner. In the same line, I would also like to thank Mr. Vignesh, for
providing a great support during my stay in BALIC.
Finally, I would like to extend my sincere thanks and gratitude to DR. M M
Bagali, HR Head, SIP Faculty Guide, CMS Business School for guiding me in
successfully completing my internship. His guidance helped me to channelize
my work in the right manner and also gave me the confidence required to
complete the project.
Last but not the least; I would like to thank my co-interns: Mr. Santosh, Mr.
Rohan, Mrs. Teju, Ms. Ayesha, Mr. Akash and Mr. Sundar for their presence
which motivated me to go to the workplace every day.
Date: 03/11/2014 CHAITALI DEB
Place: Bangalore 13MBA63020

INTRODUCTION
This new age economy, with its attendant paradigm shifts in relation to the human capital, in
terms of its acquisition, utilization, development and retention, has placed a heavy demand on
today’s HR professionals. Today HR is expected to identify potential talent and also
comprehend, conceptualize and implement relevant strategies to contribute effectively to
achieve organizational objectives. Hence a serious concern of every HR manager in order to
survive this ‘War for Talent’, is to fight against a limited and diminishing pool of qualified
candidates and to attract, motivate and retain the best employees in an organization.
According to Leigh Branham, vice president consulting service at Right Management
Consultants and author of the book, “Keeping people who keep you in business”, a talent is
not rare and precious. Everyone has talent – too many to possibly name all. Talent is
behaviour ; things we do more easily than the next person. We speak of “natural born talent”
but those with a gift, knack, ability or flair for something can refine and develop that talent
through experience. Talent, however, cannot be taught.” As someone once said, “you can
teach a turkey to climb a tree, but it is easier to hire a squirrel”.
Vice President, HR of Seagram, Mr. Gopi Nambiar, says, “Talent can be best described as a
combination of abilities and attitudes. The real trick is to match the right motivated talents to
the right role, individually and collectively, harnessing and harmonizing this crucial attribute
to achieve the objectives of your company.”
Talent management refers to the process of developing and integrating new workers,
developing and retaining current workers, and attracting highly skilled workers to work for a
company. The process of attracting and retaining profitable employees, as it is increasingly
more competitive between firms and of strategic importance, has come to be as “the war for
talent”.
Despite intense competition being the key to market development and success, organizations
have failed to identify some of the major reasons which highlights why ‘good performers’
leave. In his study, Branham clearly states that one major reason why people leave their
organization is because of the organization’s failure to bring about a correlation between pay

and performance. Human Resource experts in the industry believe matching the right blend of
talent with the right job profile can lead to superior performance.
Talent Management in present scenario
In today’s talent shortage scenario, there is a heavy demand on today’s HR professionals in
terms of employee acquisition, utilization, development and retention. To make employees
stick to the organization is enormously difficult. The present scenario with abundant
opportunities has generated a wave of employees, continually “on the move”, seeking better
opportunities whenever, wherever and however they can. Thus, today one of the critical
functions of HR is a sound human resource planning through which they are able to forecast
the demand for human resource and thereafter formulate strategies to acquire and retain them.
The solution is not just about finding the correct retention mechanisms by devising ways to
acquire the right people for the right jobs. Today’s hiring mistakes can be Tomorrow’s
attrition. A recent poll of international senior HR managers conducted by Corporate
Executive Board, Washington D.C. showed that three quarter of managers interviewed
mention attracting and retaining talent as number one priority. Another recent study by
McKinsey & Company and the Supply Management Institute found that high performing
firms have high performing purchasing departments, that what matters most is the people in
the purchasing department, and that purchasing departments staffed with talented, motivated,
and interactional personnel achieve, on average, savings that is two-and-a-half times higher
than their peers who haven’t yet figured out that when it comes to supply chain, people
matter most.. The cost of replacing a high level employee may be as much as 150 percent of
the departing employee. As noted by Ian creamer, HR Director for EMEA, Informatica:
“When people leave, their knowledge can be lost to the company forever”. Thus, Talent
management is the most critical aspect of any organization’s supply chain, and any
organization that fails to recognize this, and manage its talent, is in danger of becoming a
victim of the talent crunch and a loser in the talent war.
More and more companies have realized that that they put tremendous effort into attracting
employees into their companies but spend little time into retaining and developing talent.
Thus, talent management has become the need of the hour; a system that must be worked into
the business strategy and implemented in daily processes throughout the company as a whole.

Figure 1: Talent management as a circular set of activities (Source: www.taleo.com)
Taleo’s graphical (Figure 1) representation emphasizes the mandate of talent management to
respond to business goals and consequently be the driver of business performance. Talent
management is depicted as a circular not a linear set of activities. It depicts that business
goals should be aligned and assessed in line with talent acquisition and development which in
turn leads to optimal business performance. Today, organizations struggling with integration
of loads of HR processes and technologies have realized that talent is what ultimately impels
business success and creates value. Many organizations have started to rely on Talent
management to assess, acquire, develop, and align talent with business objectives while
significantly reducing process costs, improving quality of hire, reducing risk, and achieving
higher levels of performance.
TRIGGERS FOR TALENT MANAGEMENT
Today, HR is confronted with many workforce issues; let’s first analyze some of the drivers
that fuel the current need for talent management:
Organizations are Facing Talent Paucity
In a changing work environment where international mobility has become the order of the
day, executives are facing talent crunch. Companies world over are experiencing a scarcity
for the ‘essential employees’- that talented, technically savvy individual who can collaborate,

innovate and manage change. At least this a PWC report, ‘Technology Executive
Connections: “Successful Strategies for Talent Management” has revealed.
According to the report, industry executives are expecting a severe shortage in technology
talent with 45% saying it is very scarce. Moreover, the number of respondents anticipating
severe scarcity has risen from 4% to 15% in three years’ time.
Changing Workforce Demographics
The war of talent has been rightly predicted; as demographic changes are being faced by
many western countries. Talent management is an imminent issue which is being driven by:
1. Heightened competition for skilled workers.
2. Approaching retirement of the baby boomers.
3. Low levels of employee engagement.
4. Acknowledgement of the high cost of turnover.
5. Strenuous demands of managing global workforces.
6. Recent trend in Off shoring and outsourcing
7. Dynamic and volatile business environment
These factors together with the need to align people directly with corporate goals are forcing
HR to evolve from a traditional role to developing a new talent mindset in the organization.
Companies that have put into practice talent management have not only solved employee
retention problem but have also been able to develop and maintain a talent pool. A talent
management system cannot be left solely to the human resources department to attract and
retain employees, but rather must be practiced at all levels of the organization. A talent
management strategy will help organisations understand that it’s the skills, experience and
capabilities of people that drive strategic objectives and business plans.
BENEFITS OF TALENT MANAGEMENT
From an Employer’s Perspective
Talent management can bring significant business benefits:
1. Ensure work force diversity
2. Build a high performance workplace

3. Encourage a culture of learning and development
4. Ensures values for money
5. Employee engagement
6. Retain talented people and
7. Enhance company image and position in the employment market
From an Employee’s Perspective
When organization invest in talented people they are more likely to:
1. Engage with their work and be more effective
2. Leads to job satisfaction
3. Increases employee referral
4. Have a good opinion of their managers
5. Leads to high morale
6. Accomplishment of personal and professional growth
STRATEGIES FOR TALENT MANAGEMENT
Talent management is a continuous process. The major aspects of talent management
practiced within an organization must consistently include hiring, nurturing and retaining and
developing of the talent. The challenge in today’s shifting marketplace is retaining talent.
With scarcity of talent looming, many companies have adopted talent management as a
strategic business tool to fully utilize the performance of each employee and the organization.
But before we discuss the talent management strategies it is necessary to distinguish different
types of talent. Jack Welch, former chairman GE strongly recommends that organisation
should group their talent into 20-70-20. The first group of 20 percent would be the stars of the
company. Then 70 percent form an important group that would provide crucial operational
support. The bottom 10 percent needs to be weeded out.
Hire Retain a
A recent survey found out that the top retention techniques by degree of effectiveness are:
1. Assigning Challenging Tasks
2. Conducive work environment

3. Adopting Flexi-time
4. Providing Career breaks /sabbaticals
5. Support for career/family Friendly policies
6. High quality supervision and visionary leadership
7. Cross functional assignment, tuition and training reimbursement
8. R.E.S. P.E.C.T.; Relate to your employees; Engage and communicate; support
personal needs; personalize their development; encourage them; Compensate fairly;
Trust them more.
Some the strategies that the companies can adopt to acquire and retain talent are:
Competitive Pay Packages & Other Benefits
A fair compensation n does not guarantee employee loyalty. The organizations should offer
competitive salaries. Apart from salaries, non monetary benefits will keep the employees
motivated. For example, Employee Stock Option (ESOP), medical insurance, subsidised food
and transportation, recreation, cafeteria, educational loans, performance based incentives, get
together on company annual day, flexi time, providing credit cards, ATM cards, mobile
phones and laptops are some of the techniques that keep the employees hooked to a company.
Challenging Assignments
Identifying employees talent and encourage them to stretch their abilities into new areas.
Regular training and developmental opportunities, a good mentoring practice, counselling
and coaching is inevitable for increasing intellectual capital of the organization.
Design Career Paths and Encourage Professional Development
Provide opportunity to the employees and give them the canvas and let them paint their
career themselves. A career ladder must ensure that the employees know what they must do
to go in for progression. The companies should provide opportunities for higher education

linked with incentives and promotion. For instance, FedEx has personality development
programme worth $3000 and an online library with 600 courses.
Better Work- Life Balance Policies
A balance between work and personal goals and wants of an employee can be attained with
flexi- time, compressed work week, flexible leave practices and work from home. At times,
workshops on change management, philosophy, personality, psychology, food and nutrition
and health awareness can also be organized.
Offering Joining/ Loyalty Bonuses
In HR parlance, these offers are known as “Golden Handcuff’. They do not compel the
employee to stay with the organization, but give an alluring alternative to remain with the
organization. Organizations can loyalty bonus to employees who stay with an organization
for a period of one year, as the standard stay period accounted for loyalty is declining
radically. Mostly, loyalty or joining bonuses are usually equivalent to one year’s salary.
Talent Review Meeting
Organizations should conduct regular talent review meetings to develop a clear talent
management strategy and to increase awareness of available talent and successors, and be
prepared for a variety of business changes and talent needs. They are designed to review the
current talent status and future successor needs in the organization. The Talent Review
meeting is designed to review the performance and career potential of employees, to discuss
possible vacancy risks of current employees, to identify successors and top talent in the
organization, and to create development action plans to prepare employees for future roles in
the organization.
Promoting Talent Marketplace

A talent marketplace is an employee training and development strategy that is set in place
within an organization. It is found to be most beneficial for companies where the most
productive employees can pick and choose the projects and assignments that are most ideal
for the specific employee. An ideal setting is where productivity is employee centric and
tasks are described as “judgment-based work,” for example, in systems integration firm. The
point of activating a talent marketplace within a department is to harness and link individuals’
particular skills (project management or extensive knowledge in a particular field) with the
task at hand. American Express and IBM are examples of companies that implement the
talent marketplace strategy to retain the talent.
Boomerang Technique
The word ‘boomerang’ has recently been used to describe employees who return to an
organization after having a taste of greener pastures. Boomerang employees are usually very
committed to their position therefore can become the recruiters for new talent and mentors for
existing employees. The time they have spent away from the organization has given them the
additional knowledge of the market, and added to their experience.
Offer Total and Tenure Rewards
Total rewards system includes monetary and non- monetary benefits. It includes career
opportunities, learning investments and quality of managers. Total rewards help the
employees get a holistic perspective about what he/ she gets from the company in totality, not
in isolation of just compensation. It has a very strong impact on accepting job offers and
choosing to stay longer. To retain talent companies can also celebrate major employee
milestones by honouring them with service awards. This increase employee engagement and
confidence level and also elevates their satisfaction.

INDUSTRY PROFILE
History of Insurance Sector in India:
Insurance in India can be traced back to the Vedas. For instance, yogakshema, the name of
Life Insurance Corporation of India’s corporate headquarters, is derived from the Rig Veda.
The term suggests that a form of “community insurance” was prevalent around 1000 BC and
practiced by the Aryans.
Bombay Mutual Assurance Society, the first India life insurance society, was formed in 1870.
Other companies like Oriental, Bharat and Empire of India were also set up in the 1870-90s.
it was during the swadeshi movement in the early 20th century that insurance witnessed a big
boom in India with several more companies being set up. As these companies grew, the
government began to exercise control on them. The Insurance Act of 1938 that looked into
investments, expenditure and management of these companies funds.
By the mid-1950s, there were around 170 insurance companies and 80 provident fund
societies in the country’s life insurance scene. However, in the absence of regulatory systems,
scams and irregularities were almost a way of life at most of these companies. As a result, the
government decided to nationalize the life insurance business in India. The life insurance
corporation of India was set up in 1956 to take over around 250 life companies.
For years thereafter, insurance remained a monopoly of the public sector. It was only after
seven years of deliberation and debate – after the RN Malhotra Committee report of 1994
became the first serious document calling for the re-opening up of the insurance sector to
private players – that the sector was finally opened up to private in 2001. The INSURANCE
REGULATORY & DEVELOPMENT AUTHORITY, an autonomous insurance regulator
set up in 2000, has extensive powers to oversee the insurance business and regulate in a
manner that will safeguard the interests of the insured.
A Brief History of the Insurance Sector
The business of the life insurances in India in its exiting form started in India in the year
1818: With the establishment of the oriented Life Insurance Company in Calcutta.
1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the
life insurance business.
1928: The Indian Insurance Companies Act enacted to enable the government to collect
statistical information about both life and non-life insurances businesses.

1938: Earlier legislation consolidated and amended to by the insurance Act with the objective
of protecting of interests of insuring public.
1956: 245 Indian and foreign insures and provident societies taken over by the central
government and nationalized.LIC formed by an Act of parliament, viz. LIC Act,1956, with a
capital contribution of Rs. 5 crore from the government of India. The general insurance
business in India, on the other hand, can trace its roots to the triton Insurances Company Ltd.,
the first general insurances company established in the year 1850 in Calcutta by the British.
Some of the important milestones in the generalinsurance business in India
are:
1907: The Indian Mercantile Insurance Ltd. Set up, the first company to transact all classes of
general insurances business.
1957: General Insurance Council, a wing of the Insurances Association of India, frames a
code of conduct for ensuring fair conduct and sound business practices.
1968: The Insurances Act amended to regulate investments and set minimum solvency
margines and Tariff Advisory Committee set up.
1972: The general Insurance Business (Nationalization) Act, 1972 nationalized the general
insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and
group into four companies viz.
 The National Insurances Company Ltd.
 The New India Assurance Company Ltd.
 The Insurance Company Ltd.
 The United India Insurances Company Ltd
 GIC incorporated as a company.
INSURANCE SECTOR REFORMS
In 1993, Malhotra Committee headed by former Finance Secretary and RBI and Governor
R.N Malhotra was formed to evaluate the Indian insurance industry recommend its future
direction. The Malhotra committee was set up with the objective of complementing the
reforms initiated in the financial sector.
The reforms were aimed at “creating a more efficient and competitive financial system
suitable for the requirements of the economy keeping in mind the structural changes currently

underway and recognizing that insurances is an important part of the overall financial system
where it was necessary to address the need for similar reforms…”
In 1994, the committee submitted the report and some of the key recommendations included;
A.STRUCTURE
a) Government stake in the insurance Companies to be brought down to 50%
b) Government should take over the holdings of GIC and its subsidiaries so that
these subsidiaries can act as independent corporations.
c) All the insurance companies should be given greater freedom to operate.
B.COMPETITION
a) Private Companies with a minimum paid up to capital of Rs.1bn should be
allowed to enter the industry.
b) No company should deal in both Life and General Insurances through a single
entity.
c) Foreign companies may be allowed to enter the industry in collaboration with
the domestic companies.
d) Postal Life Insurances should be allowed to operate in the rural market.
e) Only one state Level Life Insurance Company should be allowed to operate in
each state.
C.REGULATORY BODY
a) The Insurance Act should be changed.
b) An Insurance Regulatory body should be set up.
c) Controller of insurance (Currently a part from finance ministry) should be
made independent.
D.INVESTMENTS
a) Mandatory Investment of LIC Life Fund in government securities to be
reduced from 75% to 50%.
b) GIC and its subsidiaries are not to be hold more than 5% in any company
(There current holdings to be brought down to this level over a period of time).
E.CUSTOMER SERVICE
a) LIC should pay interest on delays in payments beyond 30 days.

b) Insurance companies must be encouraged to set up unit linked pension plans.
c) Computerization of operations and updating of technology to be carried out in
insurance industry.
The committee emphasized that in order to improve the customer services and increase the
coverage of insurance industry should be opened up to competition. But at the same time, the
committee felt the need to exercise caution as any failure on the part of new players could
ruin the public confidence in industry. Hence, it was decided to allow competition in a
limited way by stipulating the minimum capital requirement of Rs.100 Crores. The
committee felt the need to provide greater autonomy to insurance companies in order to
improve their performance and enable them to act as independent companies with economic
motives. For this purpose, it had proposed up an independent regulatory body.
THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY
Reforms in the insurance sector were initiated with the passage of the IRDA Bill in
Parliament in December 1999. The IRDA since its incorporation as a statutory body in April
2000 has fastidiously stuck to its schedule of framing regulations and registering the private
sector insurance companies. The other decisions taken simultaneously to provide the
supporting systems to the insurance sector and in particular the life insurance companies were
the launch of the IRDA’s online service for issues and renewal of licenses to agents. The
approval of institutions for imparting training to agents has also ensured that the insurance
companies would have a trained to agents in place to sell their products, which are expected
to be introduction by early next year.
Since being set up as an independent statutory body the IRDA has put in a framework of
globally compatible regulations. Total number of life insurers under the Authority has gone
up to 21, while total number of general insurers registered with IRDA has reached 20.
PRESENT SCENARIO
The insurance sector was opened up for private participation four years ago. For years now,
the private players are active in the liberalized environment. The insurance market have
witnessed dynamic changes which includes presence of a fairly large number of insurers both

life and non-life segment. Most of the private insurance companies have formed joint venture
partnering well recognized foreign players across the globe.
There are now 29 insurance companies operating in the India market- 14 private life insurers,
nine private non-life insurers and six public sector companies. With many more joint ventures
in the offing, the insurance industry in India today stands at a crossroads as competition
intensifies and companies prepare survival strategies in a detariffed scenario.
There is pressure from both within the country and outside on the government to increase the
foreign direct investment(FDI)limit from the current 26%to49%,which help JV partners to
bring in funds for expansion
There are opportunities in the pension sector where regulations are beings framed. Less than
10% of Indians above the age of 60 receive pensions. The IRDA has issued the first license
for a standalone health company in the country as many more players wait to enter .The
health insurance sector has tremendous growth potential, and as it matures and new players
enter, product innovation and enhancement will increase. The deepening of the health
database overtime will also allow players to develop and price products for larger segments
of society.
State insurers continue to dominate. There may be room for many more players in a large
underinsured market like India with a population of over one billion. But the reality is that the
intense competition in the last five years has made it difficult for new entrants to keep pace
with the leaders and thereby failing to make any impact in the market.
Also as the private sector control over 26.18% of the life insurance market and over 26.53%
of the non-life market, the public sector companies still call the shots. The country’s largest
life insurer, life insurance corporation of India(LIC),had a share of 74.82%in new business
premium income in November 2005.similarly, the four public-sector non-life insurers-New
India Assurance, National Insurance, Oriental Insurance and United India insurance-had a
combined market share of 73.47%as of October 2005.ICICI prudential life insurance
company continues to lead the private sector with a 7.26%market share in terms of fresh
premium, whereas ICICI Lombard has focused on growing the market for general insurance
products increasing penetration within existing customers through product innovation and
distribution.
Reaching out to customer on doubt, the customer profile in the insurance industry is changing
with the introduction of large number of divergent intermediaries such as brokers, corporate

agents, and bancassurance. The industry now deals with customers who know what they want
and when, and are more demanding in term of better service and speedier responses. With the
industry all set to move to a de-tariff regime by 2007, there will be considerable improvement
in customer service levels, product innovation and newer standards of underwriting.
Intense competition in a de-tariffed environment, competition will manifest itself in prices,
product, underwriting criteria, innovation sales methods and creditworthiness. Insurance
companies will vie with each other to capture market share through better pricing and client
segmentation. The battle has so far been fought in the big urban cities, but in the next few
years, increased competition will drive insurers to rural and semi-urban markets.
Global standards while the world is eyeing India for growth and expansion; Indian companies
are becoming increasingly world class. Take the case of LIC, which has set its sight on
becoming a major global player falling an Rs.280-crore investment from the Indians
government. The company now operates in maturities, Fiji, the UK, Sri Lanka and Nepal and
will soon start operations in Saudi Arabia. It also plans to venture into the African and Asia-
pacific regions in 2006.
The year 2005 was a testing phase for the general insurance industry with a series of
catastrophes hitting the in sub-continent. However, with robust reinsurance programmers in
place, insurers have successfully managed to tide over the crisis without any advance impact
on their balance sheets.
With life insurance premium being just 2.5% of GDP and general insurance premiums being
0.65% of GDP, the opportunities in the Indian market place is immense. The next five years
will be challenging but those that can build scale and market share will survive and prosper.
India with about 200 million middle class household shows a huge untapped at potential for
players in the insurance industry. Saturation of markets in many developed economies has
made the Indian market even more attraction for global insurance majors. The insurance
sector in India has come to a position of very high potential and competitiveness in the
market. Indians, have always seen life insurance as a tax saving device, are now suddenly
turning to the private sector that are providing them new product and variety for their choice.
The insurance agents still remain the main source through which insurance products are sold.
The concept is very well established in the country like India but still the increasing use of
other sources is imperative. At present the distribution channels that are available in the
market are listed below:

 Direct selling
 Corporate agents
 Group selling
 Brokers and cooperative societies
 Bane assurances
Customers have tremendous choice from a large variety of products from pure term (risk)
insurance to unit-linked investment products. Customers are offered unbundled products with
a variety of benefits as riders from which they can choose. More customers are buying
products and services based on their true needs and not just traditional money back policies,
which is not considered very appropriate for long-term protection and savings. There is lots
of saving and investment plans in the market. However, there are still some key new products
yet to be introduced-e.g. health products.
The rural consumer is now exhibiting an increasing propensity for insurance products. A
research conducted exhibited that the rural consumers are willing to dole out anything
between Rs 3,500 and Rs 2,900 as premium each year. In the insurance the awareness level
for life insurance is the highest in rural India, but the consumers are also aware about motor,
accidents and cattle insurances. In a study conducted by MART the results showed that
nearly one third said that they had purchased some kind of insurances with the maximum
penetration skewed in favor of life insurances. The study also pointed out the private
companies have huge task to play in creating awareness and credibility among the rural
populace. The perceived benefits of buying a life policy range from security of income bulk
return in future, daughter’s marriage, children’s education and good return on savings, in that
order, the study adds
INSURANCE COMPANIES IN INDIA
IRDA has till now provided registration to 12 private life insurance companies and 9 general
life insurance companies. If the existing public sector insurance companies are considered
then they are 13 insurance companies in life side and 13 companies functioning in general
insurance business. General Insurance Corporation has been sanctioned as the “Indian
reinsurer” for underwriting only reinsurances business.
LIST OF INDIAN INSURANCES COMPANIES
I. LIFE INSURERS

i. Public sector
a) Life Insurance Corporation of India
II. Private Sector
a) Allianz Bajaj Life Insurance Company Limited
b) Birla Sun-Life Insurance Company Limited
c) HDFC Standard Life Insurance Company Limited
d) ICICI Prudential Life Insurance Company Limited
e) ING Vysya Life Insurance Company Limited
f) Max New York Life Insurance Company Limited
g) MetLife Insurance Company Limited
h) Om Kotak Mahindra Life Insurance Company Limited
i) SBI Life Insurance Company Limited
j) TATA AIG Life Insurance Company Limited
k) AMP Sanmarg Assurance Company Limited
l) Dabur CGU Life Insurance Company Pvt Limited
II. GENERAL INSURANCE
i. Public Sector
a. National Insurance Company Limited
b. New India Assurance Company Limited
c. Oriental Insurance Company Limited
d. United India Company Limited
ii. Private Sector
a. Bajaj Allianz General Insurance Company Limited
b. ICICI Lombard General Insurance Company Limited
c. IFFCO-Tokyo General Insurance Company Limited
d. Reliance General Insurance Company Limited
e. Royal Sundaram Alliance Insurance Company Limited
f. TATA AIG General Insurance Company Limited
g. Cholamandalam General Insurance Company Limited
h. Export credit Guarantee Corporation
i. HDFC Chubb General Insurance Company Limited
iii. Reinsurers

a. General insurance Corporation of India
MARKET SHARE OF INDIAN INSURANCE INDUSTRY
The introduction of private players in the industry has added value to the industry.
The initiative taken by the private players are very competitive and have given
immense competition to the monopoly of the market LIC. Since the advent of the
private players in the market the industry as seen new & innovative steps taken by the
players in these sector. The new player have improved the service quality of the
insurance. As a result LIC down the years have seen the decline phase in the career.
The market share was distributed among the private players. Though LIC still holds
the 75% of the insurances sector but the upcoming nature of these private players are
enough to give more competition to LIC in the near future.
NAME OF THE PLAYERS AND THEIR MARKET SHARE (%)
Table no: 1.1: Player and market share
Name of the player Market share (%)
LIFE INSURANCE CORPORATION OF INDIA 82.3
ICICI PRUDENTIAL 5.63
BIRLA SUN LIFE 2.56
BAJAJ ALLIANZ 2.03
SBI LIFE INSURANCE 1.80
HDFC STANDARD 1.36
TATA AIG 1.29
MAX NEWYORK 0.90
AVIVA 0.79
OM KOTAK MAHINDRA 0.51
IN
G VYSYA
0.37

MET LIFE 0.21
AREAS OF FUTURE GROWTH
A. LIFE INSURANCE
The traditional life insurance business for the LIC has been a little more than a
savings policy. Term life (where the insurance company pays a predetermined amount
if the policy holder dies within a given time but it pays nothing if the policy holder
does not die) has accounted for less than 2% of the insurance premium of the LIC
(Mitra& Nayak,2001). For the new life insurance companies, term life policies would
be the main line of business.
B. HEALTH INSURANCE
Health insurance expenditure in India is roughly 6% of GDP, much higher than
most other countries with the same level of economics development. Of that, 4.7% is
private and the rest is public. What is often more striking is that 4.5%are out of pocket
expenditure (Berman, 1996).there has been an almost total failure of the public health
care system in India. This creates an opportunity for the new insurance companies.
Thus, private insurance companies will be able to sell health insurance to a vast
number of families who would like to have health care cover but do not have it.
C. PENSION
The pension system in India is in its infancy. There are generally 3 forms of plans:
provident funds, gratuities and pensions funds. Most of the pension’s schemes are
confined to government employees (and some large companies). The vast majority of
workers are in the informal sector. As a result, most workers do not have any
retirement benefits to fall back on after retirement. Total assets of all the pensions
plans in India most to less than USD 40 billion.
Therefore, there is a huge scope for the development of pension funds in India. The
finance minister of India has repeatedly asserted that a Latin American style reform of
the privatized pension system in India would be welcome. Given all pros and cons, it
is not clear whether such a whole sale privatization would really benefit India are not.

COMPANY PROFILE
Bajaj Allianz life Insurance Company Limited (BALIC) is a joint venture between Allianz
SE of Germany and India based Bajaj Finserv Limited (recently demerged from Bajaj Auto
Limited). BALIC came into being on 12th March 2001. It is characterized by global presence
with a local focus and is driven by customer orientation to establish high earning potential
and financial strength. The company received IRDA (Insurance Regulatory & Development
Authority) Certificate of Registration (R3) No. 116 on 3rd August 2001 to conduct Life
Insurance Business in India.
Vision
“To be the BEST Life Insurance Company, to buy From, Work for & Invest In”
Culture
Bajaj Allianz will:
 Be a winning team.
 Have a passion for excellence and hate bureaucracy.
 Be empowered, have the confidence to take decisions quickly and be
accountable.
 Be driven to achieve results, to deliver.
 Be professional and socially committed.
 Be open to ideas, sharing, transparent & trusting.
 Focus everything we do on our customers.
 Make BALIC a “great place to work”.
 Have a sense of humor.
National Network
 The Head Office located at Pune
 1000+ branches
 4 hubs - Pune, Chandigarh, Kolkata, & Coimbatore
 Over 7000 Sales Managers
 Over 15,000 Insurance Consultants
 Ban assurance tie ups with private, public sector & foreign banks , more than
15 Bancassurance partners across country

 Strong alternate channel with about 1900+ Franchisees, over 250 corporate
agents, more than 35 brokers
Bajaj Allianz Top Management Team
Name Designation
Mr. V Philip Managing Director & Chief Executive Officer
Mr. Anil Kumar Singh Appointed Actuary
Mr. Rajesh Viswanathan Chief Financial Officer
Mr. A.S. Narayanan Chief Distribution Officer
Mr. Sampath Reddy Chief Investment Officer
Mr. JaydeepChaure Head- Human Resources
Mr. V. Sriram Head- Internal Audit
Mr. SubratMohanty Head of Agency Sales
Mr. SumanSwaroop Head of Agency Sales
Mr. Harsh Bhardwaj Head- Training
Mr.RiturajBhattacharjee Head- Market Management & Product Development
Mr. Sameer Bakshi Company Secretary & Head Legal &Complaince
Ms. Jasleen Sashay Vice President- Renewals
Mr. Ravi Kutumbrao Senior Vice Presient- Operations
Internal Grading Structure
GRADE DESCRIPTION
L5 Department Heads
L4
Department Heads / AVPsL4B
L3 L3A
Sr. Managers / AVPsL3B
L2 L2A
Managers / Supervisory RolesL2B
L1 L1A

L1B Executives / Customer Support Executives
Fact Sheet:
‘To be the best Life Insurance Company in India to buy from, work for & invest in’
 Date of Incorporation - 12th March 2001
 Started Operations on - 3rd August 2001
 Head Office - Pune, India
 World Wide Web Address - www.bajajallianz.com
 Toll Free Number - 1800 - 209 - 5858
 Brand Statement - JiyoBefikar
 Chairman - Mr. Rahul Bajaj
 MD & Chief Executive Officer - Mr. V. Philip
 Total Assets Under Management – Rs 39,333 crore
 Solvency Ratio - 559.5%
 Claim Settlement Ratio NOP - 93.31%
 Total No. of offices - 1,043
 Latest Award Won - Bloomberg UTV Award 2011 for the best utilization of
Information Technology to transform business
 Our products cater to all the financial needs like - Protection, Savings,
Retirement, Investment & Health for Individuals and Groups
Business Performance
BALIC is at fourth position amongst the private life insurers on the basis of new business
premium and second in terms of the number of policies issued, for the financial year 2011-12.
It wrote new business of Rs. 27.2 billion during financial year 2011-12 compared to Rs.34.7
billion in the previous year. The gross premium written for the financial year 2011-12 was

Rs. 74.8 billion, as compared to Rs. 96.1 billion in the previous year, registering a negative
growth. Within the private sector, BALIC market share of New Business premium was 8.3%
for 2011-12.
While the growth rate of New Business Premiums was negative for the year as a whole, the
Company did see an improving trend in the second half as compared to the first half of the
year. In the last quarter of the year, BALIC new business premiums flat, which was a
significant improvement over the de-growth of 31.7% recorded in the first nine months of the
year. The negative growth rate for new business in the third and fourth quarters of the
financial year 2011-12 reduced to 20.9 % and 0.6% as compared to the negative growth rate
of 37.3% and 37.9% respectively in the first and second quarter.
Unit linked premiums contributed 31% of your Company’s New Business premiums in 2011-
12, compared to 58% in the previous year. Traditional Individual Premiums constituted 44%
of overall New Business Premiums in financial year 2011-12 as compared to 30% in financial
year 2010-11. This was in line with overall market trends and customer preferences.
BALIC earned a profit of Rs. 12.5 billion during 2011-12, as compared to a profit of Rs. 9.6
billion in the previous year. After the distribution of current year’s surplus of Rs. 9.8 billion
(Previous Year Rs.8.2 billion) and further transfer of Rs. 0.9 billion (Previous Year Rs. 1.1
billion) from Funds for Future Appropriation, the shareholders’ profit after tax stands at Rs.
13.1 billion (Previous Year Rs. 10.5 billion). BALIC has accumulated profits of Rs 23.5
billion as at 31 March 2012.
INVESTMENTS
The funds under management as on 31st March 2012 were Rs. 394.3 billion which included
shareholder investments of Rs. 36.0 billion; traditional policyholder investments of Rs. 58.5
billion and Unit Linked investments of Rs. 299.8 billion. The total investments under
management of the Company have increased by 0.26% from Rs. 393.3 billion in the previous
year.

BALIC adopted a relatively conservative investment philosophy focusing on asset allocation
and investments in stocks with strong balance sheets and sound management. The non unit
linked portfolios were managed within the framework of regulatory asset allocation
requirements. Despite high levels of volatility witnessed in the markets during the financial
year ended March 31st 2012, your Company’s cash funds and bond funds delivered healthy
returns and their respective performances were broadly in line with their respective CRISIL
benchmarks. BALIC diversified equity funds have delivered returns that are superior to the
Nifty50 and Sensex30 Indices.
Products:
Product portfolios of BALIC are reviewed on a regular basis and products are introduced
keeping in mind customer requirements and market conditions. As at 31st March 2012,
BALIC has a basket of 49 products comprising of 32 individual products and 17 group
products. During the year BALIC launched 4 traditional products and 2 new unit linked
products including the Guaranteed Maturity Insurance Plan which is a single premium plan.
All the new products have been received favourably by the market.
Office network
BALIC has a pan India presence in 1044 offices. The aforesaid office network also includes
Operations & Processing Hubs which have been formed in various locations of the country in
order to cater to the operational requirement including underwriting of policies.
Capital and Net Worth
The total funds infused by the shareholders in the Company remains Rs. 12.11 billion. There
was no fresh infusion of Capital during the year 2011-12. The Net worth of BALIC as at 31st
March, 2012 was Rs 35.6 billion as against Rs. 22.5 billion at 31st March 2011. BALIC had
no accumulated losses as at 31st March 2012. BALIC maintained very high levels of
solvency throughout the year, which provides policyholders with a high degree of comfort
when dealing with BALIC. The solvency ratio as at 31st March 2012 stands at 516.28% as
against the required solvency margin of 150%.
Corporate Communication
The Allianz global format of Junior Football Camp in India with a school contact program
was conducted for the second year across 40 cities and over 25,000 students participated. Of

these 4 were finally selected to attend an exclusive football training camp at FC Bayern Club
at Munich.
Recognition & Awards
This year BALIC has won the Bloomberg UTV CXO Awards 2011 in the category –“Best
utilization of IT to transform business – Large Enterprise” among stiff competition. BALIC
has been awarded the SKOCH Financial Inclusion Award 2012 for their contribution towards
financial inclusion through life insurance, for the second consecutive year. The SKOCH
Financial Inclusion award recognized BALIC micro-insurance product, Sarve Shakti
Suraksha (SSS), which is an affordable life insurance product with a systematic savings
option catering to rural markets.
BALIC was also awarded Certificates of Merit in recognition for its micro-insurance
initiatives in the following areas:
 A robust and simplified micro insurance renewal collection mechanism
 Tools of financial insurance literacy for Rural Customers
 Micro-insurance Claims handling and settlement.

LITERATURE REVIEW
NEED FOR THE STUDY
In an organization, there is nothing more crucial than fitting the right employee in the
right position and retaining the best talent because growth and decline of any organization
lies on the employee working in the organization. So, it is the responsibility of the
management to attract best talent and retain the best talent. Talent Management plays a key
role in the organization which helps in reducing low productivity, dissatisfaction, low morale,
absenteeism and turnover rates.
With the emerging competition and growth in the business in the present scenario
there is a high need to focus on the challenge of attracting and retaining talent faced by Indian
HR managers. Organization need to have a vision and a well defined strategy on hiring for
the future.
OBJECTIVE OF THE STUDY:
 To understand the concept of talent management in the present scenario.
 To identify various upcoming challenges of talent management.
 To establish upcoming trends in talent management.
 To identify the strategies to attract and retain the best talent.
SCOPE OF THE STUDY:
BALIC is ranked top 4 Life Insurance Company in private sector in India. To stable its
success and long term sustainability in the market it is very important to check on man
power. Human resources is the main asset of any organization and it’s very important to
control it. By this research the present and future problem will come out and satisfaction level
can be increased.
RESEARCH METHODOLOGY
Research methodology is the investigation of specific problem in detail. At first problem is to
defined carefully for conducting research. These should be a good research plan for
conducting research.

DATA COLLECTION
The search for answer to questions is called collection of the data. Data or facts, other
relevant materials, past and present serving as based on the study and analysis. There are two
types of data collection methods:
 Primary data
 Secondary data
Primary Data
Primary data is the first hand data collected for the research by the researcher. In my research
primary data is collected through the survey instrument called questionnaires.
Secondary Data
Secondary data is the data collected form the websites, books, and existing records in
the office systems. Both primary and secondary data are analyzing together against each other
specific output.
Sample Size
A sample is known as, as the sub unit of the population which shares the similar features.
The number of units in a sample is known as the Sample size.
In this study a sample size of 50 employees was selected. Here in this context, a sample
refers to the executives of the Bajaj Allianz Life Insurance Co Pvt Ltd.
Sample Techniques:
In this research sample technique taken convenience sampling,(sometimes knows as grabs
or opportunity sampling) is a type of non probability sampling which involves the sample
being drawn from that part of the population which is close to hands. That, is a sample
population selected because it is readily available convenient.
Time period of the study:
This study was completed in a period of 2 months i.e., from June 16th, 2014 to August 16th,
2014.

Limitations of study
 Most of the employees answered favourable to the company. This might have
lead to wrong findings in the study.
 The information provided by the Respondents in the survey may be biased or
may not be viewed as seriously to provide with accurate information.
 Response from inexperienced workforce or relatively new workforce in the
survey may temper some validity of information.
 The present study is based on primary data hence, possibility of the personal
bias can’t be ruled out.
 The policy of the company, sharing internal information with an outsider was
restricted to some extent.

DATA ANALYSIS AND INTERPRETATION
4.1. SHOWS AWARENESS OF THE ORGANIZATION BEFORE YOU STARTED
WORKING HERE
TABLE: 4.1
PARTICULARS NO. OF RESPONDENTS PERCENTAGES
yes 45 90
no 5 10
total 50 100
Source: primary data
GRAPH: 4.1
INTERPRETATION:
Out of total respondents surveyed, 90% of the respondents said yes and 10% of the
respondents said no. Maximum employees are aware of the organization before starting
working.
45
90
5
10
0
10
20
30
40
50
60
70
80
90
100
No. of respondents percentages
yes no

4.2. SHOWS HOW YOU CAME TO KNOW ABOUT JOB VACANCY IN THIS
ORGANIZATION
TABLE: 4.2
PARTICULARS NO OF RESPONDENTS PERCENTAGE
Any Media 5 10
Job Portal 20 40
Reference 25 50
Others 0 0
Total 50 100
GRAPH: 4.2
INTERPRETATION:
Out of total respondents surveyed, 10% of the respondents say any media, 40% of the
respondents say job portal, and 50% of the respondents say reference.
5
20
25
0
10
40
50
0
0
10
20
30
40
50
60
Any Media Job Portal Reference Others

4.3. SHOWS HOW MANY ROUNDS OF INTERVIEW YOU UNDERWENT.
TABLE: 4.3
One Round 10 20
Two rounds 18 36
Three rounds 22 44
More than 3 Rounds 0 0
Total 50 100
GRAPH: 4.3
INTERPRETATION:
Out of total respondents, 20% of the respondents say one round, 36% of the respondents say
two rounds and 44% of the respondents say three rounds.
10
18
22
0
20
36
44
0
0
5
10
15
20
25
30
35
40
45
50
One Round Two rounds Three
rounds
More than 3
Rounds
No of respondents
Percentage

4.4. SHOWS ARE YOU SATISFIED WITH ROUNDS OF INTERVIEWS
CONDUCTED
TABLE: 4.4
yes 45 90
no 5 10
Total 50 100
GRAPH: 4.4
INTERPRETATION:
Out of total respondents surveyed, 90% of the respondents say yes and 10% of the
respondents say no. Maximum employees are satisfied with the interview rounds.
45
90
5
10
0
10
20
30
40
50
60
70
80
90
100
No of respondents Percentage
yes
no

4.5. SHOWS REFERENCE CHECK OF THE CANDIDATE
TABLE: 4.5
Yes 35 70
No 15 30
Total 50 100
GRAPH: 4.5
INTERPRETATION:
Out of total respondents surveyed, 70% of the respondents say yes and 30% of the
respondents say no.
35
70
15
30
0
20
40
60
80
Yes
No

4.6. SHOWS QUALITY GIVEN PRIORITY FOR HIRING THE EMPLOYEE.
(APART FROM THE EDUCATIONAL QUALIFICATION)
TABLE: 4.6
GRAPH: 4.6
INTERPRETATION:
Out of total respondents, 16% of the respondents say Integrity, 20% of the respondents say
Leadership skills, 24% of the respondents say Communication skills and 40% of the
respondents say all the qualities for a desirable Employee.
8 10 12
20
16
20
24
40
0
10
20
30
40
50
Integrity Leadership skills Communication
skills
All of the above
No of respondents
Percentage
Integrity 8 16
Leadership skills 10 20
Communication skills 12 24
All of the above 20 40
total 50 100

4.7. SHOWS WHAT THE PROCESS OF SELECTION WAS.
TABLE: 4.7
Written test + Personal
interview + Technical
interviewing 12 24
Written test + Group
discussion + Personal
interview + Technical
interview 8 16
Personal interview +
Technical interview 30 60
Technical interview 0 0
TOTAL 50 100
GRAPH: 4.7
INTERPRETATION:
Out of total respondents, 16% of the respondents say Written test + Group discussion +
Personal interview + Technical interview, 24% of the respondents say Written test +
Personal interview + Technical interviewing, 60% of the respondents say Personal
interview + Technical interview.
8
12
30
0
50
16
24
60
0 100%
0
10
20
30
40
50
60
70
1 2 3 4 5 6
particulars
No of respondents
Percentage

4.8. SHOWS SATISFACTION WITH RECRUITMENT & SELECTION PROCESS
TABLE:4.8
PARTICULARS NO OF EMPLOYEES PERCENTAGE
Yes 46 92
No 4 8
Total 50 100
GRAPH: 4.8
INTERPRETATION:
Out of total respondents, 92% of respondent to the employees are satisfied with recruitment
& selection process. 8% are not satisfied.
46
92
4
8
0
10
20
30
40
50
60
70
80
90
100
No of employees Percentage
Yes
No

4.9. SHOWS REASONS FOR DISSATISFACTION.
TABLE: 4.9
Interview process takes too
much time 3 75
No proper planning for the
whole recruitment process 1 25
Total 4 100
GRAPH: 4.9
INTERPRETATION:
Out of total respondents surveyed, 75% of the employees say interview process takes too
much time and 25% of the employees say there is no proper planning for the whole
recruitment process.
3
75
1
25
0
10
20
30
40
50
60
70
80
NO. of respondents percentage
Interview process takes
too much time
No proper planning for
the whole recruitment
process

4.10. SHOWS MOSTLY PREFERRED METHOD FOR RECRUITMENT &
SELECTION
TABLE: 4.10
Direct method 32 64
Indirect method 18 36
Third party 0 0
Total 50 100
GRAPH: 4.10
INTERPRETATION:
Out of total respondents, 64% said direct method is preferred most and 36% said indirect
method.
32
18
0
64
36
0
0
10
20
30
40
50
60
70
Direct method Indirect method Third party
No of employees
Percentage

4.11. SHOWS SATISFIED WITH THE PRESENT METHOD BEING FOLLOWED
BY THE COMPANY FOR RECRUITMENT & SELECTION
TABLE: 4.11
Graph: 4.11
INTERPRETATION:
Out of total respondents surveyed, 96% of the respondents are satisfied and 4% of the
respondents are not satisfied with the present method being followed by the company for
recruitment & selection.
Yes 48 96
No 2 4
Total 50 100
48
96
2 4
0
20
40
60
80
100
120
Yes
No

4.12. SHOWS PREFERRED SOURCES FOR RECRUITMENT & SELECTION.
TABLE: 4.12
Internal sources 8 16
External sources 6 12
Both 36 72
Total 50 100
GRAPH: 4.12
INTERPRETATION:
Out of total respondents surveyed, 16% of the respondents voted internal sources, 12% of the
respondents voted external source, 72% of the respondents voted both.
8 6
36
16
12
72
0
10
20
30
40
50
60
70
80
Internal sources External sources Both
no.of respondents
Percentage

4.13. SHOWS SOURCES FOR INTERNAL SOURCING
TABLE: 4.13
Present permanent employees 12 24
Present temporary employees 6 12
Retrenched/Retired/employees 10 20
Retrenched/Retired/employees 22 44
Total 50 100
GRAPH: 4.13
INTERPRETATION:
Out of total respondents surveyed, 24% of the respondents voted for present permanent
employees, 12% of the respondents voted for Present temporary employees, 20% of the
respondents voted for Retrenched/Retired/employees and 44% of the respondents voted for
Retrenched/Retired/employees.
12
6
10
2224
12
20
44
0
5
10
15
20
25
30
35
40
45
50
Presentpermanent
employees
Presenttemporary
employees
Retrenched/Retired/em
ployees
ployees
1 2 3 4
No of employees
Percentage
12
6
10
2224
12
20
44
0
5
10
15
20
25
30
35
40
45
50
Presentpermanent
employees
Presenttemporary
employees
ployees
ployees
1 2 3 4
No of employees
Percentage

4.14. SHOWS SOURCES FOR EXTERNAL RECRUITMENT
TABLE: 4.14
PARTICULARS
NO OF
RESPONDENTS PERCENTAGE
Campus
interviews 8 16
Placement
agencies 12 24
Private
employment
agencies 2 4
Public
employment
agencies 2 4
Professional
associations 0 0
Data bank 4 8
Casual
applications 12 24
Others 0 0
Total 50 100

GRAPH: 4.14
INTERPRETATION:
Maximum employees tell that the sources for External Recruitment are from placement
agencies and casual application.
8
12
2 2
0
4
12
0
16
24
4 4
0
8
24
0
0
5
10
15
20
25
30
No of respondents
Percentage

4.15. SHOWS WHEN THE RESOURCES NEED AND FORECASTED.
TABLE: 4.15
Quarterly 18 36
Monthly 14 28
Annually 10 20
Not fixed 8 16
Total 50 100
GRAPH: 4.15
INTERPRETATION:
Out of total respondents, 36% of the respondents say quarterly, 28% of the respondents say
monthly, 20% of the respondents say annually and 16% of the respondents say not fixed.
18
14
10
8
36
28
20
16
0
5
10
15
20
25
30
35
40
Quarterly Monthly Annually Not fixed
No of respondents
Percentage

4.16. SHOWS HOW YOU RATE THE RECRUITMENT PROCEDURE
TABLE: 4.16
Short 2 4
Long 10 20
Very long 0 0
Short 0 0
Total 50 100
GRAPH: 4.16
INTERPRETATION:
Out of total respondents, 4% of the respondents say short, 76% of the respondents says
Average and 20% of the respondents Can’t say rate the recruitment procedure in a company.
2
38
10
0 0
4
76
20
0 0
0
10
20
30
40
50
60
70
80
Short Average Long Very long Short
No of respondents
Percentage

4.17. SHOWS HOW YOU RATE THE HR PRACTICES OF THE COMPANY.
TABLE: 4.17
Very good 14 28
Good 30 60
Average 6 12
Bad 0 0
Total 50 100
GRAPH: 4.17
INTERPRETATION:
Out of total respondents surveyed, 28% of the respondents rated HR practices is very good,
60% of the respondents choose good and 12% of the respondents choose average.
14
30
6
0
28
60
12
0
0
10
20
30
40
50
60
70
Very good Good Average Bad
No of respondents
Percentage

4.18. SHOWS HOW YOU FEEL ABOUT RECRUITMENT POLICY OF THIS
ORGANIZATION.
TABLE: 4.18
PARTICULARS
NO OF
RESPONDENTS PERCENTAGE
Excellent 18 36
Good 30 60
Average 2 4
Below average 0 0
Total 50 100
GRAPH: 4.18
INTERPRETATION:
Out of total respondents, 36% of the respondents say Excellent, 60% of the respondents say
good and 4% of the respondents say below average.
0
18
30
2 0
36
60
4
0
0
10
20
30
40
50
60
70
Excellent Good Average Below
average
No of
Percentage

4.19. SHOWS DO YOU THINK DURING SELECTION PROCESS THE
ORGANIZATION WILL BE SUCCESSFUL IN GETTING THE RIGHT TALENTED
PERSON FOR RIGHT JOB.
TABLE: 4.19
Yes 42 84
No 8 16
Total 50 100
GRAPH: 4.19
INTERPRETATION:
Out of total respondents, 84% of the respondents say yes and 16% of the respondents say no.
42
84
8
16
0
20
40
60
80
100
Yes
No

4.20. SHOWS DO PROCEDURE ADOPTED FOR RECRUITMENT AND
SELECTION OF EMPLOYEE ENABLES TO GIVE RIGHT PERSON AT THE
RIGHT JOB
TABLE: 4.20
PARTICULARS NO. OF RESPONDENTS PERCENTAGE
Yes 35 70
No 5 10
To some extent 10 20
Total 50 100
GRAPH: 4.20
INTERPRETATION:
Maximum employee thinks that the procedure adopted for Recruitment and Selection of
employees enables to give right person at the right job.
35
5
10
70
10
20
0
10
20
30
40
50
60
70
80
Yes No To some extent
No. of respondents
Percentage

4.21. SHOWS EMPLOYEE RETENTION HELPS THE DEVELOPMENT OF
ORGANIZATION
TABLE: 4.21
RETENTION NO. OF RESPONDENTS PERCENTAGE
Never 0 0
sometimes 10 20
Most of the times 37 74
All the times 3 6
total 50 100
GRAPH: 4.21
INTERPRETATION:
Out of the total respondents, 20% says sometimes, 74% says most of the times and 6% says
all the times.
10
37
3
50
20
74
6
100
0
20
40
60
80
100
120
No. of Respondents
Percentage

4.22. SHOWS COMPANY PAYS MORE ATTENTION TO INCENTIVES AND
PERKS
TABLE: 4.22
Yes 40 80
No 10 20
Total 50 100
GRAPH: 4.22
INTERPRETATION:
Out of 50 respondents, 80% said company pays attention to perks and incentives and 20%
said no.
40
10
50
80
20
100
0
20
40
60
80
100
120
Yes No Total
No. of Respondents
Percentage

4.23. SHOWS ENCOURAGEMENT TO PARTICIPATE IN TRAINING TO
IMPROVE YOUR SKILLS AND COMPETENCIES.
TABLE: 4.23
Yes 42 84
No 8 16
total 50 100
GRAPH: 4.23
INTERPRETATION:
Out of total respondents, 84% shows encouragement in training and 16% said no.
42
8
50
84
16
100
0
20
40
60
80
100
120
yes no total
Number of respondents
Percentage

4.24 SHOWS THEY GET RECOGNITION FOR THEIR PERFORMANCE
TABLE: 4.24
OPTIONS NO. OF RESPONDENTS PERCENTAGE
Yes 46 92
No 4 8
Total 50 100
GRAPH: 4.24
INTERPRETATION:
Out of total respondents, 92% said they get recognition for their deserving performance and
8% said no.
46
4
50
92
8
100
0
20
40
60
80
100
120
Yes No Total
No. of Respondents
Percentage

4.25. SHOWS OPINION REGARDING THE WORK LOAD
TABLE: 4.25
Very high 4 8
High 38 76
Average 4 8
Low 1 2
Very low 0 0
Total 50 100
GRAPH: 4.25
INTERPRETATION:
Out of the total respondents, 8% said work load is very high, 76% said high, 8% said average,
2% said low.
4
38
4 1
50
8
76
8
2 0
100
0
20
40
60
80
100
120
No. of Respondents
Percentage

4.26. SHOWS RESPONDENTS WILL PLAN FURTHER CAREER IN THIS
ORGANIZATION
TABLE: 4.26
Yes 37 74
No 13 26
Total 50 100
GRAPH: 4.26
INTERPRETATION:
Out of the total respondents, 74% employees said they will plan further career in this
organization and 26% said No.
37
13
50
74
26
100
0
20
40
60
80
100
120
Yes No Total
No. of Respondents
Percentage

4.27. SHOWS THEY SUGGESTED/WILL SUGGEST FRIENDS/RELATIVES TO
JOIN THIS ORGANIZATION
TABLE: 4.27
Yes 43 86
No 7 14
total 50 100
GRAPH: 4.27
INTERPRETATION:
Out of the total respondents, 86% employees said they will suggest their friends to join this
organisation and 14% said no.
43
7
50
86
14
100
0
20
40
60
80
100
120
Yes No Total
No. of Respondents
Percentage

4.28. SHOWS IMPLEMENTATION OF THREE R’S (RECOGNITION, REWARD,
RESPECT) WILL INCREASE EMPLOYEE RETENTION
TABLE: 4.28
Never 1 2
Sometimes 5 10
Most of the times 44 88
All the times
Total 50 100
GRAPH: 4.28
INTERPRETATION:
Out of total respondents, 2% said never, 10% said sometimes and 88% said implementation
of 3 R’s is helpful.
1 5
44
50
2
10
88
100
0
20
40
60
80
100
120
Never Sometimes Most of the
times
All the
times
Total
No. of Respondents
Percentage

4.29. SHOWS MANAGEMENT COME FORWARD TO SUPPORT IN CRITICAL
SITUATION
TABLE: 4.29
Strongly disagree 2 4
Disagree 6 12
Neutral 20 40
Agree 20 40
Strongly agree 2 4
Total 50 100
GRAPH: 4.29
INTERPRETATION:
Out of total respondents, 4% strongly disagreed, 12% disagreed, 40% neutral, 40% agreed
and 4% strongly agreed.
2
6
20 20
2
50
4
12
40 40
4
100
0
20
40
60
80
100
120
Strongly
disagree
Disagree Neutral Agree Strongly
agree
Total
No. of Respondents
Percentage

4.30. SHOWS WORK-LIFE BALANCE IS SUPPORTED BY THIS ORGANIZATION.
TABLE: 4.30
Strongly disagree
Disagree 4 8
Neutral 14 28
Agree 28 56
Strongly agree 4 8
Total 50 100
GRAPH: 4.30
INTERPRETATION:
Out of the total respondents, 8% disagreed, 28% neutral, 56% agreed and 8% strongly agreed.
4
14
28
4
50
0
8
28
56
8
100
0
20
40
60
80
100
120
Strongly
disagree
agree
Total
No. of Respondents
Percentage

4.31. SHOWS TRAINING PROGRAM IS MOSTLY LINKED WITH CAREER
DEVELOPMENT/GROWTH.
TABLE: 4.31
Disagree 2 4
Neutral 10 20
Agree 34 68
Strongly agree 2 4
Total 50 100
GRAPH: 4.31
INTERPRETATION:
Out of the total respondents, 4% strongly disagreed, 4% disagreed, 20% neutral, 68% agreed
training program is linked with career development/growth and 4% strongly disagreed.
2 2
10
34
2
50
0
20
40
60
80
100
120
No. of Respondents
Percentage

4.32. SHOWS ORGANIZATION TREATING IN A RESPECTFUL WAY.
TABLE: 4.32
Strongly disagree
Disagree 1 2
Neutral 3 6
Agree 46 92
Strongly agree
Total 50 100
GRAPH: 4.32
INTERPRETATION:
Out of the total respondents, 2% disagreed, 6% neutral, 92% agreed that organization treating
respectfully.
1 3
46 50
2 6
92 100
0
20
40
60
80
100
120
No. of Respondents
Percentage

4.33. SHOWS NO BARRIERS OF COMMUNICATION WITH SUPERIOR.
TABLE: 4.33
Disagree
Neutral 10 20
Agree 34 68
Strongly agree 4 8
Total 50 100
GRAPH: 4.33
INTERPRETATION:
Out of the total respondents, 4% strongly disagreed, 20% neutral, 68% agreed that there is no
barriers in communication with superiors and 8% strongly agreed.
2
10
34
4
50
4
20
68
8
100
0
20
40
60
80
100
120
Strongly
disagree
agree
Total
No. of Respondents
Percentage

4.34. SHOWS EMPLOYEES ARE MOSTLY REWARDED PERIODICALLY FOR
PERFORMANCE
TABLE: 4.34
Disagree 2 4
Neutral 6 12
Agree 40 80
Strongly agree
Total 50 100
GRAPH: 4.34
INTERPRETATION:
Out of total respondents, 4% strongly disagreed and disagreed, 12% neutral, 80% agreed that
they were periodically rewarded for their performance.
2 2 6
40
50
4 4
12
80
100
0
20
40
60
80
100
120
Strongly
disagree
agree
Total
No. of Respondents
Percentage

4.35. SHOWS EMPLOYEE RETENTION PLAYS A VITAL ROLE IN THE RESULT
OF PRODUCTIVITY
TABLE: 4.35
Disagree 0 0
Neutral 1 2
Agree 44 88
Strongly agree 4 8
Total 50 100
GRAPH: 4.35
INTERPRETATION:
Out of the total respondents, 2% strongly disagreed and neutral, 88% agreed that employee
retention plays a vital role in the result of productivity and 8% strongly agreed.
2 2 6
40
50
4 4
12
80
100
0
20
40
60
80
100
120
Strongly
disagree
agree
Total
No. of Respondents
Percentage

4.36. SHOWS HOW THEY FEEL ABOUT THE WORKING ENVIRONMENT
TABLE: 4.36
Highly dissatisfied 0 0
Dissatisfied 2 4
Neutral 6 12
Satisfied 40 80
Highly satisfied 2 4
Total 50 100
GRAPH: 4.36
INTERPRETATION:
Out of total respondents, 4% were dissatisfied and highly satisfied, 12% neutral and 80%
were satisfied with the working environment.
2 6
40
2
50
4
12
80
4
100
0
20
40
60
80
100
120
No. of Respondents
Percentage

4.37. SHOWS INTERPERSONAL RELATIONSHIPS ARE ENCOURAGING IN THIS
ORGANIZATION OR NOT
TABLE: 4.37
Highly dissatisfied
Dissatisfied 2 4
Neutral 2 4
Satisfied 44 88
Total 50 100
GRAPH: 4.37
INTERPRETATION:
Out of the total respondents, 4% are dissatisfied, neutral, highly satisfied to the context and
88% are satisfied with the interpersonal relationships.
0 2 2
44
2
50
0 4 4
88
4
100
0
20
40
60
80
100
120
No. of Respondents
Percentage

4.38. SHOWS SATISFACTION WITH THE JOB
TABLE: 4.38
Highly dissatisfied
Dissatisfied 2 4
Neutral 4 8
Satisfied 44 88
Highly satisfied
Total 50 100
GRAPH: 4.38
INTERPRETATION:
Out of the total respondents, 4% were dissatisfied, 8% were neutral and 88% were satisfied to
the job role.
2 4
44
50
4 8
88
100
0
20
40
60
80
100
120
No. of Respondents
Percentage

4.39. SHOWS SATISFACTORY RELATIONSHIP BETWEEN YOUR SUPERIORS
TABLE: 4.39
Highly dissatisfied
Dissatisfied
Neutral 2 4
Satisfied 43 86
Total 50 100
GRAPH: 4.39
INTERPRETATION:
Out of the total respondents, 4% were neutral, 86% said that they have satisfactory relations
with superiors and 10% are highly satisfied.
2
43
5
50
4
86
10
100
0
20
40
60
80
100
120
No. of Respondents
Percentage

4.40. SHOWS SATISFACTION REGARDING THE WELFARE MEASURES
PROVIDED BY THE COMPANY
TABLE: 4.40
Highly dissatisfied 1 2
Dissatisfied 2 4
Neutral 16 32
Satisfied 27 54
Total 50 100
GRAPH: 4.40
INTERPRETATION:
Out of the total respondents, 2% highly dissatisfied, 4% dissatisfied, 32% neutral, 54%
satisfied, 8% highly satisfied. Mostly satisfied but has to be improved.
1 2
16
27
4
50
2 4
32
54
8
100
0
20
40
60
80
100
120
No. of Respondents
Percentage

FINDINGS
 Majority of the employees expressed that external recruitment should be the
best recruitment source according to their preference.
 It is found that past experience is the most important quality the organization
looks for in a candidate.
 It is found that qualifications are major parameters for selecting a candidate
according to the organizations present requirement.
 74% employees agreed that the main source of screening resumes in portals.
 90% employees are satisfied with the rounds of interviews they conducted.
 70% employees felt that there is reference check for the candidate.
 64% of the respondents are very satisfied about recruitment process in the
company.
 46% of the employees have clearly stated that placement agency is the best
recruitment source according to their preference.
 56% of the respondents have concluded that the right job is being performed
by the deserved person at the working environment in the organization.
 Company would explain about the policies to employees before joins in the
company.
 All the employees had right designation.
 74% employees suggested the employee retention helps the development of
organization mostly.
 80% employees said that the company pays more attention to the offers and
incentives.
 84% employees agreed that they were being encouraged to participate in
training to improve their skills and competencies.
 92% employees said they get recognition for their deserving performance.
 76% employees said that the work load is high.
 74% employees agreed to plan their further career in the organization
 86% employees suggested their relatives/ friends to join the organization.
 92% employees agreed that they were treated respectfully in the organization.

 80% employees agreed that they were rewarded periodically for their
performance.
 88% employees agreed that employee retention plays a vital role in the result
of productivity.
 80% employees are satisfied with the working environment.
 88% employees are satisfied with the interpersonal relationships in the
organization.
 88% employees are satisfied with their job role.
 86% employees are satisfied with their relationship with superiors.

SUGGESTIONS
 The organization should consider both internal and external recruitment as the
recruitment sources.
 The management should also consider employee referral schemes for the
development of the organization.
 News paper ads and placement agencies are also the best recruitment sources
along with direct recruitment.
 The company should use their own websites for the purpose of recruitment.
 Management has to ensure that every employee has to feel that he/she
involved in the work as well as end result so that to feel happy.
 Implementation of three R’s (Respect, Reward, Recognition) will increase
employee retention.
 More recreational and employee engagement activity should be implemented
in order to increase employee retention.
 The management should provide a better environment for managing both work
life and personal life in order to reduce employee turnover and increase retention
rates.
 Management has to provide training programs in the area of skill development
so that internal competencies developed within the employees.
 A good compensation system should be able to attract and retain employees,
give them a fair deal, keep the organization competitive and motivate employees to
perform their best.
 If quick promotions could not be provided then other reward system should be
introduced such as “Best Performer Certificate” and “Employee of the month” Award.

CONCLUSION
Improvement in the Recruitment and Selection in BALIC is needed. To speed up the
Recruitment and Selection Process resources like Job portals are very necessary to find the
eligible candidates in the fast way and they need to plan the Recruitment and Selection
process so that the time of both the candidates and the employees are saved.
As organizations get more complex and business environment/landscape changes with more
globalization, technology changes, emergence of new economy, worker demography
changes, it becomes imperative for them to create a process and system to ensure that the
right talent is available at the right place. And for this, an effective talent management life
cycle (talent identification, talent acquisition, talent development, talent leveraging) needs to
be created by the above suggested strategies. In a nutshell, every employee today is a free
agent in every sense and behaves like a mobile investor of his/ her human capital. And thus
calls for a strategic talent management approach to be adopted by the organization.
“Winning or losing a good recruit is like winning or losing a customer, you have got to
succeed”
Steve Ballmer, CEO, Microsoft

APPENDICES AND ANNEXURES
A STUDY ON “TALENT MANAGEMENT STRATEGIES FOR ATTRACTING AND
RETAINING THE BEST AND THE BRIGHTEST EMPLOYEES ON INDIAN
CONTEXT” IN BAJAJ ALLIANZ LIFE INSURANCE COMPANY
Dear Sir/Madam,
I am carrying out this study in partial fulfillment of my MBA degree course
requirement. I would be thankful if you could fill up the questionnaire given below.
All the information given by you will be kept confidential and used only for my
academic Purpose.
Yours Faithfully,
Chaitali Deb
Part-A:
1. Personal Details:
(a) Name: __________________________________________________
(b) Designation: _________________________________________________
(c) Qualification: _____________________________________________
(d) Company Name: _________________________________________________
(e) Experience: _________________________________________________
Part-B:
1. Are you aware of the organization before you started working here?
A) Yes
B) No
2. Show how you came to know about job vacancy in this organization?

A) Any media
B) Job portal
C) Reference
D) Others
3. Show how many rounds of interview you underwent?
A) One round
B) Two round
C) Three round
D) More than 3 rounds
4 Shows are you satisfied with rounds of interviews conducted?
A) Yes
B) No
5. Show was there any reference check of the candidate?
A) Yes
B) No
6. Show quality given priority for hiring the employee. (Apart from the educational
qualification)
A) Integrity
B) Leadership skills
C) Communication skills
D) All the above
7. Shows what the process of selection was.

A) Written test + Personal interview + Technical interviewing
B) Written test + Group discussion + Personal interview + Technical interview
C) Personal interview + Technical interview
D) Technical interview
8. Shows are you satisfied with recruitment &selection process?
A) Yes
B) No
9. Shows reasons for dissatisfaction.
A) Interview process takes too much time
B) No proper planning for the whole recruitment process
10. Show which method do you mostly prefer from the following for recruitment &
selection?
A) Direct method
B) Indirect method
C) Third method
11. Show are you satisfied with the present method being followed by the company for
recruitment selection?
A) Yes
B) No
12. Show what sources you prefer for recruitment and selection?
A) Internal sources

B) External sources
C) Both
13. Show what the sources for internal sourcing
A) Present permanent employees
B) Present temporary employees
C) Retrenched/Retired employees
14. Show what the sources for external recruitment?
A) Campus interviews
B) Placement agencies
C) Private employment agencies
D) Public employment agencies
15. Show when the resources need and forecasted?
A) Quarterly
B) Monthly
C) Annually
D) Not fixed
16. Show how you rate the recruitment procedure?
A) Short
B) Long
C) Very Long
D) Very Short
17. Show how you rate the Hr practices of the company?
A) Very good

B) Good
C) Average
D) Bad
18. Show how you feel about recruitment policy of this organization?
A) Excellent
B) Good
C) Average
D) Below Average
19. Shows do you think during selection process the organization will be successful in getting
the right talented person for right job.
A) Yes
B) No
20. Does the procedure adopted for recruitment and selection of employee enables to give
right person at the right job?
A) Yes
B) No
C) To some extent
21. Do you think that employee retention helps the development of organization?
A) Never
B) Sometimes
C) Most of the times
D) All the times
22. Does your company pay more attention to incentives and perks offered to you?

A) Yes
B) No
23. You are encouraged to participate in training to improve your skills and Competencies
A) Yes
B) No
24. Do you get the recognition that you deserve for your performance?
A) Yes
B) No
25. What is your opinion regarding the work load?
A) Very high ⁮
B) High ⁮
C) Average ⁮
D) Low ⁮
E) Very low⁮
26. Would you like to plan your further career in this organization?
A) Yes ⁮
B) No ⁮
27. Have you ever suggested/will you suggest your friends/relatives to join this organization?
A) Yes ⁮
B) No ⁮
28. Do you think that the implementation of three R’s (recognition, reward, respect) will
increase employee retention?
A) Never ⁮

B) Sometimes ⁮
C) Most of the times ⁮
D) All the time ⁮
29. Does your management come forward to support when you are facing with critical
situation?
A) Strongly Disagree ⁮
B) Disagree ⁮
C) Neutral ⁮
D) Agree ⁮
E) Strongly Agree ⁮
30. Work-life balance is supported by this organization.
B) Disagree ⁮
C) Neutral ⁮
D) Agree ⁮
E) Strongly Agree ⁮
31. Your training program is always linked with your career development/growth.
B) Disagree ⁮
C) Neutral ⁮
D) Agree ⁮
E) Strongly Agree
32. Organization treating you in a respectful way.
B) Disagree ⁮
C) Neutral ⁮

D) Agree ⁮
E) Strongly Agree
33. There are no barriers of communication while you are communicating with your superior.
B) Disagree ⁮
C) Neutral ⁮
D) Agree ⁮
E) Strongly Agree
34. Do you agree that you are rewarded periodically for your performance?
B) Disagree ⁮
C) Neutral ⁮
D) Agree ⁮
E) Strongly Agree
35. Do you agree that employee retention plays a vital role in the result of productivity?
B) Disagree ⁮
C) Neutral ⁮
D) Agree ⁮
E) Strongly Agree
36. What do you feel about the working environment?
A) Highly Dissatisfied ⁮
B) Dissatisfied ⁮
C) Neutral ⁮
D) Satisfied ⁮
D) Highly Satisfied ⁮

37. Interpersonal relationships are encouraging in this organization.
B) Dissatisfied ⁮
C) Neutral⁮
D) Satisfied ⁮
E) Highly Satisfied ⁮
38. The job you are performing is satisfactory…?
B) Dissatisfied ⁮
C) Neutral⁮
D) Satisfied ⁮
E) Highly Satisfied
39. How is your relationship between your superiors?
B) Dissatisfied ⁮
C) Neutral ⁮
D) Satisfied ⁮
E) Highly Satisfied
40. Express your level of satisfaction regarding the welfare measures provided by
the Company.
B) Dissatisfied ⁮
C) Neutral
D) Satisfied ⁮
E) Highly Satisfied

BIBLIOGRAPHY
Websites
 WWW.GOOGLE.COM
 WWW.CITEHR.COM
 WWW.HRCOMMUNITY.COM

CHAITALI FINAL RESEARCH PROJECT

Recommandé

Recommandé

Contenu connexe

Tendances

Tendances (20)

Similaire à CHAITALI FINAL RESEARCH PROJECT

Similaire à CHAITALI FINAL RESEARCH PROJECT (20)

CHAITALI FINAL RESEARCH PROJECT