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(A Project Study Submitted In Partial Fulfilment for The Requirement Of The Two-Year Post Graduate Diploma In Management 2009-2011)
Industry Guide
Navneet Kaushik Vice President (HR) SMC Insurance Brokers Pvt. Ltd.
Faculty Guide
Dr. Manosi Chaudhuri Associate Professor OB/HR Birla Institute of Management Technology
Post Graduate Diploma in Management has worked on Summer Project titled Putting HR in Strategic Position at SMC Insurance Brokers
PVT. LTD.
for the programme. This is her original work to the best of my knowledge.
Date: Seal:
CE T
CATE
APPROVAL N
TRY GUIDE
Putting HR In Strategic The following S mme Inte nship Report title Position At SMC Insurance Private Limited is hereby pprove as a certifie study in management carried out and presented in a manner satisfactory to warrant its acceptance as a prerequisite for the award of Post Graduate Diploma in Management for which it has been submitted. It is understood that by this approval the undersigned do not necessarily endorse or approve any statement made or opinion expressed therein but approve the Summer Internship Report only for the purpose it is submitted.
Signature
......... Name Mr. Navneet Kaushik Designation: VP (HR) SMC Insurance Pvt. Ltd
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DECLARATION
HR i Strategi Position
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V .L
out under the able guidance of Dr. Manosi Chaudhuri Faculty, BIM ECH and Mr. Navneet Kaushik, VP HR SMC Group.
All care has been taken to keep this report error free and I sincerely regret for any unintended discrepancies that might have crept into this report. I shall be highly obliged if errors (if any) be brought to my attention.
Thank You.
(Tushar Jindal)
E-mail: tushar.jindal11@bimtech.ac.in
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ACKNOWLEDGEMENT
No one who ach eves s ccess does so without acknowledging the help of others The wise and confident acknowledge this help with gratitude. Alfred North Whitehead British Mathematician and Philosopher, 1861-1947
My experience of working in SMC Group Insurance division was a great learning experience and for this I am really grateful to my mentor Mr. Navneet Kaushi Vice President Human resources who did not just support me and guide me in my endeavours but also showed great confidence in me and gave me wonderful opportunities to work on.
I am also thankful to my reporting manager Ms. Sonia Dalal Assistant Manager Human Resources under whose supervision I got the chance to have hands on experience of various HR functions especially Recruitment and Database Management.
My Faculty Guide Dr. Manosi Chaudhuri has been a great mentor and I am highly indebted to her for all her support. Her vision inspired me and her approach made me strive harder.
And lastly I would like to state that its the constant love and support of my family, friends and colleagues which is the one source of my dedication and determination.
Tushar Jindal
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EXECUTIVE SUMMARY
PUTTING HR IN A STRATEGIC POSITION AT SMC INSURANCE PRIVATE LIMITED
The existence of HR department at SMC Insurance has not been realized by the management and employees in its real sense because of the lack of structure in the various functions performed by the employees of HR department.
Hence the basic purpose of this initiative is to streamline the various HR functions such as Recruitment, Performance Management, Policy Manual, Grievance Redressal etc. The whole purpose was to design a procedure for the various activities.
The essence of strategic HRM lies in the extent of the alignment of HR strategies with the business strategy. In this case one of the vital business strategies was Cost Effectiveness.
TABLE OF CONTENTS
CERTIFICATE OF APPROVAL - FACULTY GUIDE ................................ ................................ ...... 2 CERTIFICATE OF APPROVAL - INDUSTRY GUIDE ................................ ................................ .... 3 DECLARATION ................................ ................................ ................................ ............................... 4 ACKNOWLEDGEMENT ................................ ................................ ................................ ................. 5 EXECUTIVE SUMMARY ................................ ................................ ................................ ................ 6 INTRODUCTION TO THE INSURANCE INDUSTRY ................................ ................................ 9 History and Origin ................................ ................................ ................................ ..................... 9 Present Scenario................................ ................................ ................................ ....................... 10 INTRODUCTION TO INSURANCE BROKERAGE ................................ ................................ .. 11 COMPANY PROFILE ................................ ................................ ................................ ................ 12 Companys Vision ................................ ................................ ................................ ................... 12 Core Values ................................ ................................ ................................ ............................. 12 Products and Services ................................ ................................ ................................ .............. 13 Value addition for customers................................ ................................ ................................ .... 15 PROJECT 1 ................................ ................................ ................................ ................................ ..... 16 PURPOSE ................................ ................................ ................................ ................................ ... 17 OBJECTIVES ................................ ................................ ................................ ............................. 17 INTRODUCTION ................................ ................................ ................................ ....................... 17 What Is Recruitment? ................................ ................................ ................................ ............... 17 General Steps In Recruitment ................................ ................................ ................................ ... 18 Recruitment And Selection................................ ................................ ................................ ....... 19 Recruitment @ SMC Insurance ................................ ................................ ................................ 19 Hierarchy Of Customer Interaction Department................................ ................................ ........ 21 Lead Handling In Telemarketing ................................ ................................ .............................. 22 Sources Of Recruitment @ Smc Insurace: ................................ ................................ ................ 23 WORK DONE AT SMC: ................................ ................................ ................................ ............. 25 Line Up Of Candidates:................................ ................................ ................................ ............ 25
Interviews: ................................ ................................ ................................ ............................... 25 Maintaining Database................................ ................................ ................................ ............... 26 Formalizing Structure: ................................ ................................ ................................ ............. 27 Mapping of Institutes and Small placement Agencies: ................................ .............................. 27 LEARNINGS: ................................ ................................ ................................ ............................. 28 PROJECT 2 ................................ ................................ ................................ ................................ ..... 32 PURPOSE ................................ ................................ ................................ ................................ ... 33 INTRODUCTION ................................ ................................ ................................ ....................... 33 Meaning Of Company Policies................................ ................................ ................................ . 33 Areas Covered By Company HR Policies ................................ ................................ ................. 34 Merits of Human Resource Policies................................ ................................ .......................... 34 Making Changes to Existing HR Policies ................................ ................................ ................. 35 METHODOLOGY ................................ ................................ ................................ ...................... 36 LEARNINGS: ................................ ................................ ................................ ............................. 38 REFERENCES ................................ ................................ ................................ ................................ 39 ANNEXURE ................................ ................................ ................................ ................................ ... 40
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Association of India, frames a code of conduct for ensuring fair conduct and sound business practices. In 1972 The General Insurance Business (Nationalization) Act, 1972 nationalized the general insurance business in India with effect from 1st January 1973. It was after this that 107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.
Present Scenario
The government of India liberalized the insurance sector in March 2000 with the passage of the Insurance Regulatory and Development Authority (IRDA) bill. Policies come under the purview of the government appointed Tariff Agency Committee. The opening up of the sector is likely to lead to greater spread and deepening of insurance in India and this may also restructuring and revitalizing of the public sector companies. A host of private insurance companies operating in both life and non life segments have started selling their insurance policies since 2001. Presently there are 12 general insurance companies with 4 public sector companies and 8 private insurers. Although the public sector companies still dominate the general insurance business, the private insurance companies have a 10 percent share of the market, up from 4 percent in 2001.
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COMPA Y PROFILE
SMC Group, a leading financial services provider in India is a vertically integrated investment solutions company, with a pan India presence. Over the Years, SMC has expanded its domestic as well as international operations. xisting network includes regional offices at Mumbai, Kolkata, Chennai, Bangalore, Cochin, Ahmedabad, Jaipur and Hyderabad plus a growing network of more than 2 offices across over 2 cities/towns in India. The company has expanded internationally, an has established office in Dubai. d SMC has entered into a :50 joint venture with Sanlam Group, one of the largest listed financial services group in South Africa for setting up wealth Management and Asset Management business in India, Sanlam is operating in over 30 countries globally including UK, USA, Swit erland, Luxembourg, Dublin, Australia and others. SMC Capitals is the S BI registered Merchant Banking division of SMC group. SMC Insurance is one of the leading Insurance brokers for both Lif and General insurance needs e of both individuals as well as corporate clients.
Compan s Vision
To be a global major in providing complete investment solutions, with relentless focus on investor care, through superior efficiency and complete transparenc y.
Core Values
Ethical deals: Honesty is the only policy. Experience and trust: Over 20 years of experience has made SMC earn the trust of more than 5, 75,000 Investors. Expertise: Know how and skills to provide investors an edge. Personalised Solutions: Every investor is unique. Every solution is unique.
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6. NRI and Institutional Desk Dedicated team for NRI and Institutional Desk
7. Research Research support to clients through intraday SMS and E-mails, Weekly research magazine Wise Money covering wide range of asset classes and Wise Fund Focus a monthly magazine on mutual funds, Regular investor education programme 8. Margin Funding
&
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Expertise in Financial short term loan facility to buy securities from Capital market
SMC offers risk management services and a complete range of insurance solutions through its subsidiary company SMC Insurance Brokers Pvt. Ltd. The company holds a Direct Insurance Broker's license from Insurance Regulatory and Development Authority (IRDA) and provides a wide array of Life Insurance and General Insurance products under professional guidance of experts in the field. SMC provides customized solutions to individual clients, small and medium enterprises as well as to the leading corporate houses and institutions across the country. Our philosophy We believe that "a transaction is for a moment but a relationship is forever". Hence we give all transactions equal importance and strive to offer our esteemed clientele an unmatched service. Our edge
Pan India presence with own branches in over 48 locations and 2000+ offices of group companies 3000+ strong team of employees 1,00,000+ customers 1500+ man years of General Insurance experience Robust IT Infrastructure with over 1 lakh Sq. ft. office space Widest possible product range A team of passionate professionals with strong Domain knowledge and expertise Flexibility to choose product of any insurance company Quality of services Customized solutions
y y y y y y y y y
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Comprehensive Risk Portfolio Management including identification, measurement, assessment and handling of the risk, of which insurance is an integral part. Designing of customized and qualitative insurance programme Offer of choices while recommending suitable insurance policies Assistance in deciding sum insured to avoid under-insurance Due to our volume of business, knowledge of market and expertise, we are able to obtain the best possible premium rates. Selection of Policy wording and clauses where choice is available Assistance in processing of claims to obtain fair and prompt settlement from Insurance Companies Extensive rapport and liaison with insurance companies Outsourcing of major part of insurance function
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y y
y y
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PROJECT 1
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PURPOSE
The basic purpose was to make the recruitment department more efficient and more effective.
OBJECTIVES
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To understand and work in the Recruitment department of SMC Insurance. To provide formalized structure to various activities in the Recruitment department. To maintain the database for analysing the effectiveness of current Recruitment strategy. To map some institutes and small sized placement agencies for the development of cost effective source of recruitment.
INTRODUCTION
What Is Recruitment?
Recruitment originally meant reinforcement, but came to mean any enlistment of personnel for military purposes. This is one of the few immutable factors in warfare. To initiate any type of large-scale conflict, be it on the basis of ideology, religion, nationality, or even financial gain, a leader must first muster a force sufficient to execute his plans. When an armed force is divided according to how its personnel was recruited, we may expect to find career soldiers, volunteers, and conscripts, while the proportions of each may be expected to vary greatly depending upon the purposes, nature, and scale of a war. And its not a surprise to see that even in the terms of business, recruitment holds the same meaning. According to Edwin B. Flippo, Recruitment is the process of searching the candidates for it t is the employment and stimulating them to apply for jobs in the organisation. R activity that links the employers and the job seekers. A few definitions of recruitment are: Recruitment is a process of finding and attracting capable applicants for employment. The process begins when new recruits are sought and ends when their applications are submitted. The result is a pool of applications from which new employees are selected. It is the process to discover various sources of manpower to meet the requirement of staffing schedule and to employ effective measures for attracting that manpower in adequate numbers
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to facilitate effective selection of an efficient working force. Recruitment of candidates is the function preceding the selection, which helps create a pool of prospective employees for the organisation so that the management can select the right candidate for the right job from this pool. The main objective of the recruitment process is to expedite the selection process. Recruitment is a continuous process whereby the firm attempts to develop a pool of qualified applicants for the future human resources needs even though specific vacancies do not exist. Usually, the recruitment process starts when a manager initiates an employee requisition for a specific vacancy or an anticipated vacancy.
y y y
Identifying vacancy Preparing the job description and person specification. Locating and developing the sources of required number and type of employees (Advertising etc). Managing the response Short-listing and identifying the prospective employee with required characteristics. Arranging the interviews with the selected candidates. Conducting the interview and decision making
y y
y y
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SMC insurance deals in both the categories and is the service provider to various players like Max Newyork Life insurance, Tata AIG, ICICI Prudential, ICICI Lombard, Reliance, Bharti Future, Birla Sunlife Insurance etc. Now this task is done through three different business verticals:
y
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y y
There is not much difference in the hierarchy of the marketing associates department and direct sales department but the Customer Interaction department differs significantly than other two in terms of hierarchy and functioning. Basically the major chunk of recruitment in this branch is done for the Customer Interaction Department for the particular branch itself. Other than that various other profiles are also taken care of such as Zonal Head, Cluster Manager Area Manager, Senior Sales Manager, Sales Manager, Relationship Manager etc for PAN India Locations such as Mumbai, Pune, Guragaon etc. To have a better understanding about the Customer Interaction Department few facts about it are given below:
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VICE PRESIDENT
REGIONAL HEAD
MANAGER
ASSISTANT MANAGER
TEAM LEADERS
GROUP LEADERS
TELECALLERS
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GROUP LEADER
SALESMAN
SLOTTER
TELECALLERS
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Job Portals: Naukri.com and Monster.com These are the two job portals which are used extensively by the Recruitment department at SMC Insurance. Different jobs are posted though the Job Posting feature of the job Portals and resumes are received. Otherwise keeping the job description in mind resumes are searched using different keywords and then on the selected resumes calling is done.
Employee Referral Programmes: As the customer interaction department demands bulk hiring various employee referral programmes are launched in the company in which employees whose references are selected are given a certain amount of money at a certain time interval. Under this initiative various special schemes are being launched such as Referral week or Refer whom you prefer etc.
Consultants: The process is also outsourced to various consultants at PAN India locations with different rates, depending upon the region for which the service is taken and the respective job profile. Presently they are taking services from many consultants to name a few Shomuk consultancy services, Aithents Services, V serve, Pearl Consultancy Services, GRD InfoTech etc. For senior profiles the commission is usually on the percentage basis i.e. a fixed percentage of the CTC offered to the selected candidate, whereas for entry level profiles especially those of customer interaction department it is on fixed amount payment terms. For senior profiles the applicants are sent to the respective office directly but for bulk hiring sometimes applicants are sent to the office and sometimes HR executive and a person from sales are sent to the consultancy itself to speed up the process.
Newspaper Advertisements: Attractive advertisements are given in various newspapers for example Times of India (TOI) at regular intervals depending upon the requirement of the company.
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Institutes, Small Placement Agencies and NGOs: For the tele-calling profiles different English speaking coaching institutes, call centre training institutes and small sized placement agencies are also targeted. The advantage of these tie-ups is that they work for the company free of cost or on very low commission basis. Various NGOs running for women or the needy are also contacted and this way company along with fulfilling their own requirement does something for the society as well.
Self Sourcing: Anyone who works in the Recruitment department can rope in candidates through personal contacts or resources. Any such resource is termed as Self Sourcing.
Walk-In: A lot of job applicants come to know about the job from the people who presently do not work in the company or because they live in the nearby area of respective offices, or for that matter any candidate whose source cannot be traced are kept under the category of Walk-In.
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Firstly the confirmations regarding the number of positions, job responsibilities, salary and timings etc are to be made from the respective requisition owners. After the confirmations are made relevant resumes are searched / jobs are posted/ or the requirement is to be intimidated to the consultant.
When resumes are selected, the calls are made to those applicants and they are convinced and an interest is aroused in them for the respective job. Finally, those who show interest are lined up for the interviews. If the requirement is outsourced to the consultant then a lot of coordination work is done.
Firstly it was observed how interviews are taken by the respective HR manager and what are those KSAs which are sought for the respective profiles. After that an in-depth study of the job descriptions of few profiles such as Tele Marketing Executives (TME), Group Leader (GL) and Team Leader (TL) was done. Then for a week interviews were taken.
For further improvement Expert Interviews were taken those of the sales managers and trainers in the sales department and also of Quality Control experts to understand the minute details of their requirements. Also at regular intervals a feedback was also taken from the sales people that why a particular candidate was selected or rejected so that the wastage of time and resources could be minimized in future.
As a result after two weeks the percentage of candidates selected in the second round out of those who were shortlisted in the HR round reached up to 90 percent.
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Once candidates were selected they were informed about the salary packages and in a number of cases a lot of convincing was done to convert them with the salary offered by the company. Also they were told about all the various documents they were supposed to bring on the joining day and in addition to this one day before the joining dates the confirmation calls used to be made to all the selected employees of that batch to remind them about the timings and the documents.
There were visits made to different consultancies along with a sales manager to coordinate and conduct interviews for bulk hiring. The biggest advantage of this method was that it was time saving.
Maintaining Database: A database file named Master MIS was maintained under
which there were various sheets such as Recruitment Tracker and Training Status etc in which the data was entered on the daily basis to keep the records of the candidates interviewed, selected, rejected, source of the candidate that whether he/she had come through a consultancy or employee reference etc, interview date, joining date, contact no., training status that whether they qualified training or not, etc.
Firstly a record of each and every activity of the recruitment department was at hand for any kind of reference. It also helped in showing that how much targets are being achieved by the recruitment department. It became the source to make the monthly reports which are to be sent to the directors of the company that in a particular month : How many candidates were interviewed? What is the selection- rejection ratio? How many out of selected joined the training? How many out of those qualified the training and joined the floor? How many out of those left the job in first one week? To analyse the sourcing mix i.e. how much recruitment is done from which source out of consultants, employee referral schemes, job portals, walk in etc.
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To determine the Return On Investment (ROI) of different sources such as advertisements or referral programmes which in turn helped in finding out which ways are more cost effective and what should be the optimum Sourcing Mix. To make the list of payments this included the amount and the due date to different consultants and employees under referral schemes. It was also used to make everyday report which is to be sent to the directors stating the number of selections of that particular day and their source as well. Along with this everyday attrition from floor was also reported.
Note: The task of maintaining such a database was huge and it could only be made possible with the help from various departments such as Sales and Training etc. The sample of the database and all the various reports can be seen in the Annexure.
Formalizing Structure: To provide formal structures for various things formats were made and revised for the following
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News paper advertisement Interview Assessment Sheets for various profiles. Manpower Requisition Form Proposal to be sent to consultants, placement agencies etc. Attendance sheet for the training batches.
Mapping of Institutes and Small placement Agencies: In NCR region there are
thousands of English speaking coaching institutes, Call centre training agencies and small level placement agencies. These coaching institutes and training centres send the candidates for free as for them it counts as the placement assistance for their own students. Other than that some of these small sized placement agencies work without any cost to the company because they charge commission from the candidates and some of them work on a very low commission as compared to full time consultants. To map such institutes, training centres and placement agencies, a lot of field work was done in the areas like Laxmi Nagar, Rohini and Shahadra etc. These areas were selected on the basis of factors like high density of such institutes and agencies in these areas, optimum distance from the office and easy commutation through metro. As a result of this field work few tie-ups were made and candidates were received with the help of these tie-ups.
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LEARNINGS:
Learn
everything you can, anytime you can, from anyone you can there will always come a time when you will be grateful you did. -Sarah Caldwell (American Impresario)
Use of Job portals: How are the jobs posted, how are the resumes searched, while putting the keywords how to use the competitors name, how to shortlist the resume and how to make the search more accurate, etc.
Honing the Convincing Ski lls: At many steps of recruitment, especially when the recruitment is done for a voice process, a lot of convincing skills are required, As a lot of calling was done in the pursuit of lining up people, over time an expertise was developed due to practice and feedback about how to get people to first talk to you and then convince them with your proposal. An important learning was how to strike deals with the consultants, placement agencies, etc. at your terms and conditions by convincing them.
How to observe How to probe How to put the candidate under stress How to put the candidate at ease How to guide the candidate How to give feed-back
Other than the mentioned above there was one more thing which was learnt during the process i.e. Interview with an open mind and information about all the various openings. For example: Many times it had happened that while interviewing anyone it was realized that the person is not appropriate enough for the profile for which he/ she has applied. If the
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interviewer just knows about that particular position then he/she will reject the candidate. Now if the interviewer knows about what are the other openings and what are KSAs required for those jobs he/she can probe further to find out more about the candidates profile. At SMC Insurance other than the constant openings of telesales profile- Tele Marketing Executive (TME), Group Leader (GL), Team Leader (TL) etc. Few other openings used to come in voice process such as Customer Care Executive (CCE), Welcome Caller, so it used to be the job of the interviewer to find out which candidate is more appropriate for these profiles rather than what he has applied for. Communication: How to communicate a message without spoiling the relations. A situation, rather a problem, is worth mentioning here. What was happening in the organization was that the attrition was very high from the customer interaction department due to which in spite of bulk hiring the recruitment department did not seem to be completing the targets. Even after communicating a number of times, the sales department did not bother to ponder upon this. So to solve this problem the format of every day report to be sent to the director regarding the everyday selection was revised. A column was added in it to show the directors the attrition on the floor. It worked in two ways: it stopped the underrepresentation of the performance of the recruitment department and secondly it made the directors intimate to the sales department that attrition needs to be controlled.
Relevance of database management: Any kind of analysis can be done if the relevant data is available. There were many kinds of reports made from the database.
o Calculation of ROI o Bottlenecks in the recruitment process o Payment Lists, etc.
Significance of Follow Up and Coordination: Though the task identity of work like follow up and coordination might seem low but it was realized that they are an integral part of any work system. Targets can only be achieved in the competitive world by following up. A lot of efforts put in to build a contact can get wasted if the follow is not substantial enough. Coordination Is the key to efficiency, one can be effective with the lack of coordination but efficiency can never be achieved without coordination.
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Importance of Feedback: Feedback is the backbone of improvement Feedback is a very essential activity. Both giving and receiving of feedback are equally important.
While working in Recruitment department there were few observations made which are not directly related to the Recruitment but surely gives a good exposure in the HR domain. The concept of Third Party Rolls was observed and understood. In a third party roll system the employees are on the rolls of some other party. They just work in the premises of the company and mark their attendance. This attendance is sent to the third party and the salary is processed by them. Companies are in this practice because it saves a lot of work and the company is also free from any kind of legal bindings related to those employees. This is a very common practice in BPO sector.
Another practice which was observed was the outsourcing of work within the organization. SMC Insurance has a department called Insurance Support which does the following activities related to HR:
Offer letter request forward to HR after getting the approval from Head of Department (HOD). Letter Of Intent (LOI)request forward to HR. Employee Code request forward to HR. Email Id/Password reset request forward to HR. Appointment letter forward to HR. Id Cards forms given to HR.
Offer letters/LOIs/Appointment letter received by HR and same dispatched by Insurance Support. Employee codes and Email ids forward to branch coordinators by Insurance Support. Id Cards dispatched by Insurance Support. Receiving of Offer letter/LOIs/Appointment letter received by Branches and same forward to HR.
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Salary Cheques/Incentive Cheques/Arrear Cheques received by HR and same dispatched by Insurance Support.
Joining kits received by the branches and handover to HR after checking. Pendency in joining kit cleared by Insurance Support. Modification and correction request in joining details forward to HR after getting approval on the same.
Monthly Attendance:
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Attendance sheet forward to HR. Receiving of Salary cheques received by branches and same forward to HR.
Employee Clearance Forms (ECFs) handed over to HR. Exit Employees Id Cards hand over to HR. Full and Final settlement cheques dispatched by Insurance Support.
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PROJECT 2
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PURPOSE
To update, rework, reframe and consolidate all the company policies which are being taken care of by the HR Department in the policy manual.
INTRODUCTION
According to the Stanford web dictionary Policy is A statement of principles and/or values that mandate or constrain the performance of activities used in achieving institutional goals. As mentioned on the NCSU website A "policy" is any standard, statement, or procedure of general applicability adopted by the Board of Trustees pursuant to authority delegated by law or the Board of Governors. According to online business dictionary Organizational Policies/ Company Policies are set of basic principles and associated guidelines, formulated and enforced by the governing body of an organization, to direct and limit its actions in pursuit of long-term goals.
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employment contract between the employee and the company. Without clearly written policies, the company is at a disadvantage. It is particularly important for large as well as small business establishments to implement and maintain fairly applied human resource policies in their everyday operations. Businessesand especially business start-upscannot afford to waste valuable time and resources on drawn-out policy disputes or potentially expensive lawsuits. The business owner who takes the time to establish sound, comprehensive human resource management policies will be far better equipped to succeed over the long run than will the business owner who deals with each policy decision as it erupts. For as many small business consultants, human resource policies that are inconsistently applied or based on faulty or incomplete data will almost inevitably result in declines in worker morale, deterioration in employee loyalty, and increased vulnerability to legal penalties. To help ensure that personnel management policies are fairly applied, business owners and consultants alike recommend that small business enterprises produce and maintain a written record of its HR policies and of instances in which those policies came into play.
Professional Code of Conduct Leave Policy Holidays Policy Recruitment Policy Separation Policy Overtime Policy Transfer Policy Dress Code Policy Business Travel Policy etc
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Many observers have pointed out that even the best policies will falter if the business owners or managers who are charged with administering those policies are careless or incompetent in doing so. But for those businesses that are able to administer their HR policies in an intelligent and consistent manner, benefits can accrue in several areas: Curbing litigation. Members of the legal and business communities agree that organizations can do a lot to cut off legal threats from disgruntled current or exemployees simply by creatingand applyinga fair and comprehensive set of personnel policies. Communication with employees. A good, written human resource policy manual can be an enormously effective tool in disseminating employer expectations regarding worker performance and behaviour. Communication with managers and supervisors. Formal policies can be helpful to managers and other supervisory personnel faced with hiring, promotion, and reward decisions concerning people who work under them. Time Savings. Prudent and comprehensive human resource management policies can save companies significant amounts of management time that can then be spent on other business activities, such as new product development, competitive analysis, marketing campaigns, etc.
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worker to be in the office to answer questions? Is the nature of the employee's workload such that he can take meaningful work home? Can you implement the telecommuting variation on a probationary basis? Business owners need to recognize that changes in HR policy have the potential to impact, in one way or another, every person in the company, including the owner. Proposed changes should be examined carefully and in consultation with others within the business who may recognize potential pitfalls that other managers, or the business owner himself, might not detect. Once a change in policy is made, it should be disseminated widely and effectively so that all employees are made aware of it.
METHODOLOGY
The solution was to collect and analyse all the existing policies of SMC Insurance, not only to consolidate and review them, but also to review policies of other major players in the industry. It included considering the current regulations of the government, updating all the required policies accordingly and, preparing an altogether new policy manual. All this, being never done before in SMC Insurance, was to be done carefully in the shortest possible time. To start with this gigantic task, a good collection of all the policy documents was extracted. After that rather than consolidating all the policies and updates first and then editing the policy in soft copy, it was decided to first discuss the policy with the concerned person, get the facts and all the updates in place, and only then create a soft copy of that policy. It was to be done for all the policies one by one. The process started and went on for every policy. The format in which the policies were to be designed is given below
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PURPOSE
APPLICABILITY
PRACTICE TO BE FOLLOWED
EXCEPTIONS
This particular format was used because it covered every aspect of the policy and it gave clarity to the reader about the policy and its applications. After discussing all the policies at length with the mentor and other managers in HR, approval had to be taken on each and every policy by the Director before making it the final policy and before making a soft copy out of it. With a great support from them, this task started getting momentum. Though it had to be paused at different occasions, slowly but surely it was going on. An index was prepared so that every policy can be dealt with one by one and no important one is left out. To get an idea of policies prevalent in other companies of the same industry, a reference to their policies was required. After referring to them e.g. Business Travel Policy, some new changes were being brought into some policies. Some better alternatives were being chosen and were being implemented. These aspects gave a good idea about not only prevalent trends in the market but also about employee needs in todays world. Finally a policy manual was created and sent to the HR Director for approval. Some of the policies had to be discussed at length and were not included in the manual at that time.
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LEARNINGS:
y y y
Exposure to all the policies of a brokerage firm. Knowledge and experience on how policies are being designed. Increased understanding of different policies in a company and their importance. How little phrases can change the complete meaning and how one should be very careful while writing on such important issues.
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REFERENCES
Cooper Dominic, Robertson Ivan T & Tinlin Gordon Recruitment and Selection, U.K. Thomson Learning Ivancevich John M, (2008) Human Resource Management,10th edition, New Delhi, Tata McGraw Hill. http://www.businessdictionary.com/definition/policy.html www2.slac.stanford.edu/policy/definitions.asp http://recruitment.naukrihub.com/recruitment-process.html http://legal-dictionary.thefreedictionary.com/brokerage+firm http://www.scribd.com/doc/31431401/Brokerage-Industry-in-India http://www.investorwords.com/2512/insurance_broker.html http://www.sbcentre.ca/downloads/handouts/insurance.pdf http://www.ibai.org/aboutus.htm http://www.irdaindia.org/ www.google.com www.scribd.com www.smcindiaonline.com
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ANNEXURE
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INTERVIEW ASSESSMENT SHEET (FOR TL and GL) NAME : CURRENT ORGANISATION: DATE REFERRED BY : :
FOR OFFICE USE ONLY S No. PARAMETER ROUND HR (SCALE 1 TO 5) INTERVIEWED BY 1 Communication Skills 2 Personality 3 Leadership skills 4 Attitude 5 Subject Knowledge 6 Relevant Experience 7 IQ Level 8 Analytical skills 9 Stress handling Ability 10 Cultural Fitment Total Signature of the interviewer (Minimum 50% criteria for selection) ROUND 2 (DEPT.) INTERVIEWD BY
FOR HR USE ONLY RESULT DATE OF JOINING SALARY OFFERED DESIGNATION OFFERED DEPARTMENT HEAD HR Signature Sales Signature
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FOR OFFICE USE ONLY S No. PARAMETER ROUND HR (SCALE 1 TO 5) INTERVIEWED BY 1 Communication Skills 2 Voice clarity 3 Confidence/Energy 4 Attitude 5 Education 6 Product Knowledge 7 Relevant experience 8 Selling skills 9 Stress handling Ability 10 Cultural Fitment Total Signature of the interviewer (Minimum 50% criteria for selection) FOR HR USE ONLY RESULT DATE OF JOINING SALARY OFFERED DESIGNATION OFFERED DEPARTMENT HEAD ROUND 2 (DEPT.) INTERVIEWD BY
HR Signature
Sales Signature
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SMC Insurance Brokerage P t.Ltd Pratap agar, Parsa nath Mall Metro Mall, Phone:011-66222266 Website:www smcindiaonline com ew Delhi.
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JOB DESCRIPTION
Telemarketing Executive / Sr. Telemarketing Executive 10+2 / Graduates (Freshers may also apply) Delhi (Pratap Nagar) (Near Pratap nagar Metro station)
Experience: Timing :
JOB DESCRIPTION-
1. Should be confident, aggressive. 2. Should have flair for sales and marketing. 3. Should be very convincing with positive attitude. 4. Eager to take challenge.
SALARY Fixed Salary - (6000 7500) + leave encashment + TA + meal + Incentives. Skill Set: Incumbent should have good communication skill, No Stammering, MTI or any voice related issue, should be patient and confident at the same time.
CONTACT PERSON: Sonia Dalal PHONE NO. : 011-66377777 9311291260 email - soniadalal@smcindiaonline.com
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168
278
Selection s ejected
46
121
14
92
DECERTIFIED-9 RTH-6
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Fro
92
121
29 77
Contact
Father
ame
Position
Status-HR
Status-OPS
Source
Source
ame
Salary
Month
Date of Interview
Date of Joining
Department
Concerned Head
Final Status
Remarks
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Trainee Name
Contact No.
Position
Date of Training
Month
Trainer
Batch No.
Certified / Decertified
Current Ref
3 4 4 1 1
Proposed Batch
6 8 6 7 2
Portal
0 0 0 0 0
Batch
27 24 24 19 Batch Handover18
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General Information Requisition Owner: Designation: Location: _____________________ Nature of Requirement New Budget / Replacement ________________ Fresher / Experienced / MT_________________ Date of Requisition: _______________ Department: _____________________
Position Information
Job Title:
Primary Recruiting Contact (All applications / resumes will be forwarded to this person) Name: Contact Details: ______________________
* Only completed MRF form with required approval will be considered for further perusal.
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Cost of advertisement=12000(tied up with third party i.e. shoumuk). No. of candidates hired through advertisement= 35 Per candidate cost = 12000/35 = 340(approx) As compared to Consultant & Reference schemes in which
Per candidate cost = 1500 Thus we have saved = (1500-350)*35 = 40000(approx) In addition High Candidate turnover give boost to friends and family references. Brand Awareness is increased.
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SOURCI G MI
100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
Source
52