| | | | | | | | | | | | | Bajaj Allianz Life Insurance Company HR Overview Introduction: Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE.
Both Bajaj & Allianz enjoy a reputation of expertise, stability and strength. Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May, 2001 to conduct General Insurance business (including Health Insurance business) in Pune, India. The Company has an authorized and paid up capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE. Human Resource Management
Human Resource Management maybe defined as an art of procuring, developing and maintaining competent workforce to achieve the goals of an organization in an effective and efficient manner. Roopa A. Kochhar Head of Human Resources – Bajaj Allianz General Insurance Says” in Bajaj Allianz we are creating a culture where ordinary people come together To make a great team” The Allianz Human Resource Values: The Allianz human resource Values introduced in 2003 helped the organization to use these values as a guideline and set more precise targets with regard to human resource development.
These values were developed to link business targets and desired leadership behaviors, to support and foster cultural to improvements and organizational change, to accelerate the development of a high performance culture, raise the employee performance in the whole Allianz group. The responsibilities of human resource department have increased many folds. Nevertheless, with a structured organization and dedicated personnel, Bajaj Allianz has exceeded the expectations. HR Operations at Allianz: The three sub departments of Human resources operations are . The Human resources department 2. The Employee relation hub 3. Business HR department. Each of these departments is interdependent having independent roles. HR Operation Structure: [pic] Roles and Responsibilities in Business HR -Internship period The roles handled by me during the internship period i. e. , 5april-25june are • Sourcing • Recruitment Process • Exit Interview • Elearning • PF grievances • Full and Final settlement Process Sourcing: Sourcing, a primary step played in the HR department by the Internship Trainee.
Sourcing of potential candidates can be done in various methods like Web Portals: Bajaj Allianz has tie up with the web portal www. Nakurai. com to source the candidate from their website. Once the company is registered with Naukari. com, they have allocated a specific Employer’s Zone where the HR Trainee is accessible to download the resume from the website . The payment for downloading the resumes is Rs. 2000 per month and every month the company has to reset the password in order to avoid the usage of the external user.
As per the Branch recruitment candidates can be recruited. Once the resumes are downloaded by Trainee , the next step would be calling up the candidate and inform them about the vacancies available in the Bajaj Allianz Life Insurance . If a candidate is interested he would be put up in a interested list and call for the interview process. 65% of candidates are sourced through the web portal and sourcing through the web portal proves to be a worthy effort for recruitment Walk-in:
Bajaj Allianz provides opportunity for the candidates who walk-in into the HR Department and are looking to work in the Sales field. The responsibilities as a intern is to review the resume and find out the candidate general information , experience and his communication skills and then forward to the HR Executive . If the HR Interviewer feels the candidate is ready to take up the challenges and work in the sales field then he would provided opportunity to work in the Bajaj Allianz life Insurance Recruitment Process
When the candidates are sourced based on the Branch requirement, the next step would be arranging the venue for interview . The first step is the candidate will be interviewed by the Branch manager (BM), if the BM feels he is worthy for the Post, next he will be interviewed by the Divisional manager (DM) . When the DM gives ok to recruit the candidate, the final interview will be done by the HR department. For whole south region i. e. , from Chennai to down south the recruitment is done in Chennai Zone, so the 90% of HR interview is done through telephonic Interview.
As a Trainee the HR Executive allowed me to Interview the candidate and to verify the documents submitted along with the Interview Assessment Sheet tally with the Telephonic Interview for processing the Appointment order The tool used for interview is Interview Assessment Sheet In the Interview Assessment the candidate has to fill the Name, Post applied for , Designation , Location ,department and Branch code . The candidate has to fill a Reference check sheet which gives us a idea about the candidate Educational qualification and previous work Experience.
The candidate has to support the reference Check sheet with the duplicate copy of his original document in order to prove his originality. Once the documents are verified by HR Trainee, the executive will forward the same to HO for generating the Appointment Order. When the appointment order reaches the candidate he has to fill the Joining information Kit (JIR), which brief us the candidate reporting authority, reviewer and the HR executive who interviewed him at the time of interview, along with his he has to submit 6 Photo’s to generate the Employee’s ID card and also employee’s code, with which he can access the Bajaj Allianz we Portal.
All these documents has to be scanned for future reference Exit Interview A new agenda that has been implemented in recent months in Bajaj Allianz is Exit Interview. It is a process of finding out the Ex employee’s input about their ideas about Bajaj Allianz and their Working Environment. As the Attrition rate is at 60% every month, the management is keen to find out a way to reduce the attrition and also very much interested to retain the Employee in the organization.
During the internship period , as a trainee in Bajaj Allianz my responsibilities is to prepare the Exit report for every month and find out the outcome of the Exit Report . It has to be presented in a detailed manner to HO . Based on my findings the company is trying to implement the suggestions which were given by me for the Employee’s. The findings and the Input given by me are well appreciated and are in the process of implementing. E-learning E-learning is a soft skill developed exclusively for the employee’s of Bajaj Allianz. On Bajaj Allianz Web portal each and every employee has to login and do the E-learning.
E-learning basically teaches the employee how to handle the customer, how to approach the customer , how to the improve communication skills and safety measures . This software is a excellent work done based on the inputs give by the HR department . As a Trainee, the part played by me is to call up each and every employee from the south Zone Database and make them to do the E-learning technique. As a result of my intervention nearly 85% of the employees have completed the E-learning process, which was well appreciated by the HR executive. PF Grievances
When a employee resign from his Job , the first thing he has to do is apply for the PF settlement . An employee has to Fill form10 in order to receive the money which the company has deducted from his monthly salary . So when an employee sends his PF form to our office, my job is to check whether the employee has filled the form as per the government requirement, duly signed papers along with two Stamps. He has to attach a cancelled cheque in order to credit the amount in the bank account. The cancelled Cheque bank account should be existing for another 6 to 8 months.
In Bajaj Allianz Life insurance , the PF segment has been outsourced to another consultant , so normal process time would be 4 -5 months . Full and Final Settlement (FNF Settlement) Full and Final settlement includes when a employee resigns from the company he has to complete the exit Process in a proper way . A permanent employee has to provide one month notice period, if the notice period is to be waivered then the employee has to pay three month basic pay in favor of Bajaj Allianz Life Insurance Payable at Pune.
For temporary employee the notice period is one week, if the notice period is to be waivered the employee has to pay one month basic pay towards the company. As a trainee the role played by me is to check the Exit Report and verify whether the details written by the candidate are in order , update the same in the FNF MIS and forward the same to HO. PROCESS FLOW OF F&F SETTLEMENT [pic] Learning from Bajaj Allianz Bajaj Allianz, a leading insurance provider in the Private sector has large number of workforce in the organization.
Generally Insurance sector is a running around to convince the people to buy the insurance products, if he is not able to achieve the targets within the specified time he will be terminated and many employees resign as a result of work pressure, therefore retaining a employee is a very tough job, so when a employee resigns a job, HR department has to find a replacement immediately • Sourcing, a primary work in the HR Department helped me to understand the nuvansances of sourcing a candidate in the insurance sector. It also helped to me understand the expectations of a candidate who is ready to work in the insurance sector. Recruitment process provided me a clear picture of how the actual Recruitment process work in the insurance sector , right from the interview followed by Background verification to generation of appointment and Employment code . Each and every process are organized in a systematic manner which helps me to understand the process in a precise way. • Exit interview is a wonderful learning experience, it helped me to interact with large number of workforce and able to understand their working conditions in the Bajaj Allianz and also able to get their opinion about the company . E-learning, a soft skill process developed by Bajaj Allianz for the employee’s help me to understand the techniques used by them to approach and handle customers and also I was able to act as intermediatory between the Employee’s and the Company. • P. F Grievance- helped me to learn various section and also the procedure which are required when applying for P. F • Full & Final Settlement, a process which helped me to learn about the settlement process that works in Bajaj Allianz. ———————– Updation of MIS Rejection/Retention Prashanthini Jayaprakash Phase 1-Internship Report Period: 5th April -25th July