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Project Report On Recruitment and Selection

This document provides a project report on recruitment and selection at Aviva Life Insurance Company India Ltd. It includes an introduction to Aviva and its joint venture with Dabur in India. The report then describes Aviva's product portfolio, the purpose of recruitment and selection, the selection process, benefits of working with Aviva, and rewards for employees. It concludes with an analysis of the author's project experience at Aviva.

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PPrroojjeecctt RReeppoorrtt OOnn RReeccrruuiittmmeenntt && SSeelleeccttiioonn By Sudipa Das
Project Report Name : Sudipa Das Course : MBA Batch : 2009 - 2011 Phone : 8013543737 E-Mail : sudipadas1988@gmail.com Company Name : Aviva Life Insurance Company India Ltd Project Title : Recruitment & Selection Project Guide : Shinjini Chakraborty (Manager-SRU) Phone : 9051871788 Commencement Date : 3rd Dec 2010 Closing Date : 3rd Feb 2011
Acknowledgement I Sudipa Das is going to be a part oft AVIVA Life Insurance Company as a Project Trainee in Recruitment. Here I will get to learn key skill of recruitment process which will help me in my personal life as well as in my professional career. The AVIVA consist of many departments like Administration, Operation, Sales and Marketing, IT, Training and SRU. The Strategic Recruitment Unit (SRU) handles recruitment, training and development monitoring overall growth of the agency business. AVIVA is the India’s leading Life Insurance Company and still growing. I am coming in AVIVA as a project trainee for 2 months and I want to work here after my training because it is an MNC and I will be lucky if I get an opportunity to work here.
Contents 1. Introduction 2. Joint Venture of AVIVA with Dabur 3. AVIVA Product Portfolio  Child  Savings  Retirement  Protection  Health  Rural 4. Recruitment and Selection  Purpose of Recruitment  Sources of Recruitment 5. Selection Process  Advertising  Job Specification  Person Specification 6: An Opportunity with Benefits 7: Rewards and Recognitions for FPA 8: Analysis of the Project 9: Conclusion
Introduction Aviva Aviva plc is a global insurance company headquartered in London, United Kingdom. It is the fifth-largest insurance company in the world measured by net premium income and has 53 million customers in 28 countries and 54000 employees’ world wide. It is the market leader in both general insurance and life and pensions in the UK and has major businesses in Continental Europe, North America and Asia. Its primary listing is on the London Stock Exchange and it is a constituent of the FTSE 100 Index. It has a secondary listing on the New York Stock Exchange. Aviva can trace its history back to Hand in Hand Fire & Life Insurance Society in 1696. It was created by a merger of Norwich Union and CGU plc[5] (itself created by the 1998 merger of Commercial Union and General Accident) as CGNU in 2000. The Aviva name was adopted in July 2002. Andrew Moss is the group CEO of Aviva. In June 2009 the Company decided to dispose of Navigator, its Australian wealth management business, to National Australia Bank for A$825 million (£401 million). As per the survey conducted by Great Places To Work and Economic Time AVIVA ranked 4th among India's great places to work and ranked 1st among financial services firm in 2009.
Dabur Dabur India Limited is the fourth largest FMCG Company in India established in the year of 1884 . It is India’s oldest largest group of companies. Revenues of US$910 Million (Rs 4110 Crore) & Market Capitalization of US$4 Billion (Rs 20,000 Crore). Building on a legacy of quality and experience of over 125 years, Dabur operates in key consumer products categories like Hair Care, Oral Care, Health Care, Skin Care, Home Care & Foods.
Joint Venture of Aviva with Dabur  Aviva started its journey in India on 6th June in 2002 with Dabur. 74% stake 26% stake  Aviva holds the minority 26% stake and Dabur holds 74%.  Aviva has over 90 exclusive Banc assurance partnerships worldwide.  Aviva’s Corporate Office is in Gurgaon, Delhi.  Aviva has 208 branches and 40 Banc assurance partnerships spread across with 3000 cities and towns in India.  Pioneers of Unitized products in India.  American Express Bank, ABN- AMRO Bank, CBOP, IndusInd Bank, Lakshmi Vilas Bank, Punjab and Sind Bank, etc are tie ups with Aviva.
 Its brand ambassador is the famous cricketer Sachin Ramesh Tendulkar. Aviva Product Portfolio Child Aviva Young Scholar Advantage Aviva Young Scholar Advantage is a comprehensive plan that enables you to secure your child’s future in any eventuality through:  All future premiums being waived off and invested as a lump sum amount in to the funds, so the policy continues even in the unfortunate event of the parent’s death while the Life Cover (Sum Assured) is paid out immediately. These benefits are also applicable upon disability or critical illness if the Comprehensive Health Benefit (CHB) Rider is opted  Provision of a regular income for the minor child, in the event of parent’s death if Aviva Child Education (CE) Rider is opted for  An additional lump sum being paid in the event of parent’s death if Aviva Term Plus Rider is opted  Loyalty Additions to enhance your Fund Value  A choice of 8 fund options; Investment flexibility through Automatic Asset Allocation (AAA) and Systematic Transfer Plan (STP)  The product will be offered only to those who have atleast one child Aviva Young Scholar Secure At Aviva we believe there is no greater insurance in the world than a good education. Education is the bridge between your child’s dreams and reality. This journey has many milestones -schooling years leading up to Board exams, entrance exams, college years and professional courses. Each of the milestones
has a cost attached to it right from extra coaching for Boards to reference material for entrance exams to admission fee for a professional course. Now guarantee funds for each of these milestones with Aviva Young Scholar Secure and provide your child the best education. With AYS Secure you can plan your savings and payouts for your child’s education in a manner that match the child’s educational journey. Savings Aviva Freedom Life Advantage Aviva Freedom Life Advantage allows you to choose the proportion of savings and protection and change it subsequently, in line with your changing needs, with the option to pay premiums for as few as 5 years, through:  Option to increase / decrease Life Cover (Sum Assured)  Option to cover husband and wife under the same policy  100% allocation from sixth year if Annual Premium is Rs. 1 lakh or more  Inbuilt Accidental Death cover  Loyalty additions every 3 years from the end of 10th policy year  Pay off all the premiums in 5 years or choose to pay throughout the term  Flexibility to choose Life cover  Enhance maturity proceeds and life cover with Top-up Premiums  Select from two optional riders for additional protection – Aviva Dread Disease (DD) Rider and Aviva Term Plus Rider  8 fund options (Bond-II, Protector-II, Balanced-II, Growth-II, Enhancer-II, Infrastructure, PSU, and Index-II Funds), AAA & STP Aviva Dhan Vriddhi Aviva Dhan Vriddhi is a traditional money back plan that provides you a guaranteed amount of money at regular intervals along with protection through the Life Cover (Sum Assured), in the event of death
 Guaranteed returns: Guaranteed Additions @7% of Life Cover for each completed policy year till maturity  Limited premium payment: Premiums are not required to be paid during the last five years of the policy  Additional protection: You can opt from 5 riders to enhance protection with the benefits ranging from additional Sum Assured for the incident covered, waiver of future premiums and also a regular income for your beneficiary in case you are not around  Rebate for high Sum Assured: Rebate on basic premium is allowed if your Sum Assured is Rs. 1 Lac or higher Aviva Money Back Aviva Money Back Policy is a comprehensive policy that allows you to accumulate savings along with valuable life cover protection through:  A percentage of the Life Cover is paid out, depending on the policy term, at the end of pre-defined years  Guaranteed Additions and Simple Reversionary Bonuses Aviva LifeSaver Advantage Aviva Life Saver Advantage is predominantly a savings plan that offers disciplined saving with high level of financial security for the family, in case something untoward happens  Increasing death benefit: o Life Cover (Sum Assured) plus Fund Value as death benefit  Flexible Life Cover (1.05 x Policy Term x Annual Premium) to (1.5 x Policy Term x Annual Premium)  Inbuilt Accidental Death cover
 Select from the two optional riders – Aviva Child Education (CE) Rider and Aviva Dread Disease (DD) rider  Long-term savings in line with changing needs: o Pay top-up premiums to increase the savings element along with a nominal life cover o Reduce life cover under the base plan  Fund options - Bond-II, Protector-II, Balanced-II, Growth-II, Enhancer-II, Infrastructure, PSU and Index-II Funds, o STP option available for safer entry into and exit from equities Aviva Life Bond Advantage Aviva LifeBond Advantage is a Single Premium unit linked insurance plan that offers you an opportunity to invest a lump sum for medium to long term together with Life Cover and flexibility to access your money after 5 years, besides the regular tax benefits through:  Eight unit linked funds as well as two options for life cover  Extra financial protection through the inbuilt Accidental Death Benefit  Systematic partial withdrawal for hassle free structured withdrawal  Opportunity for additional investment with a nominal life cover (top-up) Aviva Dhan Varsha Aviva Dhan Varsha is a traditional investment cum protection plan that provides you Guaranteed Addition of 6% to 9% of the sum assured along with life protection  Guaranteed Additions basis the policy term, longer the Policy Term, higher the rate of Guaranteed Additions  Guaranteed Survival Benefit equal to sum of all accrued guaranteed addition at the end of the Premium Payment Term  Guaranteed Maturity Benefit at the end of the Policy Term
 No premium payment liability during the last five years for policy term of 10, 15 and 20 years  Optional riders for additional protection in the event of accidental / non- accidental death Aviva Sachin Extra Cover Advantage Aviva Sachin Extra Cover Advantage is a hassle-free savings plan that gives you a high life cover without undergoing any medical examination by signing a self- declaration of good health. This plan offers high Life Cover (Sum Assured) in the first 10 years and reduces in the last 10 years balancing your need for high protection during initial years and investment towards maturity.  No medical examination  Higher Life Cover  Loyalty Additions to boost maturity proceeds  Eight fund options including Infrastructure and PSU Fund  In-built accidental death cover for enhanced protection Retirement Aviva Secure Pension Aviva Secure Pension is a comprehensive plan to provide you with the dual benefits of pension and protection through:  Guaranteed additions to the sum assured in the first three policy years.  Attractive returns by participation in the company’s profits and an additional terminal bonus on maturity. Aviva Pension Builder Your retirement savings plan is an essential part of your future financial security. In volatile investing environment, the best protection against market uncertainty is a guaranteed retirement corpus from your pension plan. Presenting
Aviva Pension Builder with guaranteed maturity benefit and increasing death benefit to support your family in any unfortunate turn of event. With Aviva Pension Builder you can choose to build your retirement fund with savings accumulated during your working life or make a lump sum one time investment. This plan offers a guarantee of double of the premiums you have paid as maturity proceeds and offers your family an unmatched support with death benefit of return of all the premiums paid with an interest calculated @10% per annum, compounded annually till date of death. Protection Aviva LifeShield Plus Aviva LifeShield plus provides comprehensive protection for your family at a nominal cost through:  Payment of Life Cover (Sum Assured) to your family in the event of your death, with a provision of double the Life Cover in the case of an accidental death.  Immediate payment of the Life Cover in the case of critical illness or permanent total disability, while life cover continues till the policy term  Most competitive rates Aviva LifeShield Aviva LifeShield provides low cost protection to your family through: o Guaranteed payment of lump sum to the nominee in case of death of the life insured within the policy term. o Preferred rates to the customers opting for higher sum assured and to the Aviva PensionPlus Policyholders o Flexibility of increasing the sum assured on life stage events like marriage and birth.
Aviva LifeShield Advantage Aviva LifeShield Advantage provides comprehensive protection for your family incase you are not around. Additionally, all the money paid as premium will be returned to you on survival at the end of the Policy Term through:  Payment of Life Cover (Sum Assured) to your family in the event of your death (Option A)  Additional protection against Accidental Permanent Total Disability (Option B)  Return of the money paid towards the base premium on your survival at the end of the policy term  Additional protection against Permanent Total Disability (PTD) and 18 Critical Illness covered by the Aviva Dread Disease (DD) Rider (available with Option A regular premium mode)  A rebate on your premium for higher levels of Sum Assured Aviva LifeShield Platinum At Aviva we are constantly innovating because we believe that each one of us is different and so is our expectation from our life insurance plan. Presenting Aviva Life Shield PlatinumTM , a unique protection plan to help you plan for your family in case you are not around. Option A – Life Protection Choose this option if you foresee a need for lump sum payment of large sum of money to your family in case you are not around. You can opt for additional health and Accidental Death Benefit rider. We offer differential rates for Smokers, Non-smokers and preferred rates for (Healthy) Non-smokers. The special rates for non-smokers is subject to Cotinine test, which is available in select cities. Option B – Income Replacement Choose this option if you want to provide a regular monthly income to your family
in your absence. This amount increases by 5% p.a. compounded annually from the very first year of your policy to beat inflation. Your premium obligation is limited to about 2/3rd of the policy term. Option C – Loan Protection. Choose this option to cover for higher financial liabilities and family responsibilities in the early years of your life, the Life Cover decreases evenly across the policy term. Your premium obligation is limited to about 2/3rd of the policy term. This Insurance plan offers rebate on your premium for higher levels of Sum Assured. Aviva i Life In today’s fast-paced life, rarely do we stop and take stock of the life cover we provide for our families in case something unfortunate was to happen to us. To ensure your families are secure and lead a comfortable life, in case you are not around, we bring to you Aviva i Life - A pure life insurance cover for your loved ones at a very nominal cost. To offer you convenience at your fingertips, you can buy this term plan online to save the time and effort that would have been otherwise required. Health Aviva Health Plus Aviva Health Plus is a health cum savings plan that provides a cover on life, accidents, critical illnesses, disabilities, surgery and hospitalization, while guaranteeing the return of a part of the premium on maturity through:  Provision of a Life Cover (Sum Assured) on death  Additional protection against accidental death and disability  Coverage against Total Permanent Disability due to sickness
 Coverage against 18 critical illnesses  Protection against 37 major surgeries  Cash payout in case of Hospitalisation  Guaranteed maturity benefit, even if all health benefits have been claimed Rural Aviva Amar Suraksha Aviva Amar Suraksha is an ideal protection plan that helps you secure your family's future through:  A guaranteed lump sum amount in the unfortunate event of your death  Minimal annual premium of Rs. 500. Aviva Jana Suraksha Aviva Jana Suraksha provides comprehensive financial protection for your children/dependants through:  Low cost life insurance  Guaranteed lump sum amount in case of your death during the term of the policy. Aviva Grameen Suraksha
Aviva Grameen Suraksha is an ideal low cost solution to help you protect your loved ones through:  Payment of Sum Assured to your family in the event of your death  Premium payment for 2 years and benefits for full the policy term Recruitment and Selection Definition of HRM Human Resource Management (HRM) is the function performed in organizations that facilitates the most effective use of employees to achieve organizational and individual goals.
Recruitment is a process to discover the sources of manpower to meet the requirements of the staffing schedule and to employ effective measures for attracting that manpower in adequate numbers to facilitate effective selection of an efficient workforce. Purposes and Importance The general purpose of recruitment is to provide a pool of potentially qualified job candidates. Specifically, the purposes are to: Human Resource Management Recruitment Selection Training and Development Motivation Employment Legislation Productivity Trade Union Rewards System
• Determine the present and future requirements of the organization in conjunction with its personnel-planning and job-analysis activities. • Increase the pool of job candidates at minimum cost. • Help increase the success rate of the selection process by reducing the number of visibly, under qualified or overqualified job applicants. • Help reduce the probability that job applicants, once recruited and selected, will leave the organization only after a short period of time. • Begin identifying and preparing potential job applicants who will be appropriate candidates. Sources of Recruitment Internal Sources 1. Transfer and Promotion 2. Employee Referral
3. Job Posting 4. Former Employees 5. Previous Applicant 6. HR Data Bank External Sources 1. Advertisement 2. Campus Recruitment 3. Employment Exchange 4. Gate Hiring and Contractors 5. Consultants 6. E-Recruiting 7. Acquisitions and Mergers Selection is the process of picking individuals who have relevant qualifications to fill jobs in an organization. The basic purpose is to choose the individual who can most successfully perform the job from the pool of qualified candidates. Selection Process
I was exclusively connected with the staffing process of the association which comprise of hiring of the Financial Planning Advisor who handle the selling and marketing of different insurance products of the company. The process starts with the publicity part. In the beginning the data were gathered which later converted into leads by analyzing the requirement of the profile. Then calling up the probable candidates to fix up their interviews. In the screening the candidates were considered as per the company’s prospect and as per the criteria set up to hire FPAS by IRDA(Insurance Regulatory and Development Authority). The job information and job profile are disclosed to the candidates during the
interview process which has 3 stages. After the last round of interview the worthy persons are selected and joining formalities are carried out. 1: ADVERTISING  Generally data is gathered by searching job portals, different marketing activities and employment surveys.  After gathering the data, analysis is done and resume are short listed.  At last candidates are called for the interview. In order to increase man power in company, different marketing activities are performed including canopy activity, arranging painting competition in schools, job posting, campus interviews, organizing career fairs. For women empowerment different types of activities like slogan writing competition is organized for housewives. Employment surveys are carried by tele-calling by the data generated through broadband. Then the eligible candidates are called for the interview by telecalling. 2: JOB SPECIFICATION
In this segment the job profile is disclosed to the candidate, some extra information is given for the company and the job responsibility, career growth, benefits and payout structure is explained to the candidate. The main responsibility of the interviewer is to make the applicant understand the company’s unique sales process.  Fixing appointment with the client.  Needs analysis using opinion poll.  Prepare financial health check-up report.  Proposal signing.  Presentation to the client.  Analyzing the report. If a person joins Aviva for a stable career, Aviva helps the person to grow. Sales Director DSF Director Regional Manager Head Zonal Manager Branch Manager Sales Manager Assistant Sales Manager Financial Planning Advisor
3: PERSON SPECIFICATION Aviva prefer housewives, retired persons and fresh graduates. The minimum qualification for a candidate is to be graduate and there is no age bar for this job . The employee has a freedom of working either in part time or full time. The employee must have convincing power and great contacts, positive and go getting attitude. He should prefer his job first. What Next After completing these 3 rounds the deserving candidate is selected and joining formalities is completed. These simple steps will help you join Aviva’s Financial Planning Advisor Program  Fill the “My Oppurtunity 100” form to better understand your ‘natural market’.  Submit your Recruitment Docket duly filled with required documents.  Attend a company-sponsored professional IRDA-mandated course, over 2 weeks.  Qualify the simple IRDA Insurance Advisor’s examination.  Once the formalities are completed, your nearest branch office will contact you for support.
Rewards and Recognitions for FPA CHAMPIONS LEAGUE Achieve defined target and earn recognisition at regional level Get certificate of recognisition and trophy from sales director Earn dollar points QUATERLY CONTESTS & PLATFORMS Earn rewards in the form of gold, Household appliances Get crowned as star achiever on the basis of your achievement BLUE RIBAND Highest level of recognition in AVIVA Exclusive foreign trips and Meeting CEO MDRT Highest level of recognition worldwide worldwide 0 to 3 Months Every 3 Months Annual Platform Annual International Convention
Analysis of the Project Being a part of AVIVA life Insurance SRU department for the time period of 2 months I had gained a lot of experience about the company, work environment of an MNC, work culture, detail knowledge about insurance industry, importance of HR department and basic function of HR manager. My sincerity and punctuality, seriousness towards my work has helped me a lot in order to complete this project. For 2 months I was placed in SRU involved in recruiting Financial Planning Advisor. I was awarded for my good performance in recruiting FPA. I used to train those candidates who joined in recruitment department. I used to take part in marketing activities like drawing competition in a fair, I used to visit schools and colleges for recruitment also. I was the leading performer on PAN INDIA basis. Life Insurance industry is the rising industry in India.
Conclusion As everyone knows that the Insurance sector is one of the most booming industries in India. AVIVA is the leading organization among all the Insurance Company. As I stated earlier that I had joined AVIVA as a project trainee was one my most memorable experience because here I gained a lot of knowledge in the recruitment field as well as in the field of Insurance. After commencement of my project under experienced people I recruited many candidates which increased my experience. Here I came to know as well as experienced the working culture of an MNC and learned the qualities of a good leader and I also learned how to maintain corporate relationship. By taking part in marketing activities which were held in schools, colleges and fairs enhanced my communication skills which in future are going to be my key skill in my HR professional career.

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Project Report On Recruitment and Selection

  • 2.
  • 3.
    Project Report Name :Sudipa Das Course : MBA Batch : 2009 - 2011 Phone : 8013543737 E-Mail : sudipadas1988@gmail.com Company Name : Aviva Life Insurance Company India Ltd Project Title : Recruitment & Selection Project Guide : Shinjini Chakraborty (Manager-SRU) Phone : 9051871788 Commencement Date : 3rd Dec 2010 Closing Date : 3rd Feb 2011
  • 4.
    Acknowledgement I Sudipa Dasis going to be a part oft AVIVA Life Insurance Company as a Project Trainee in Recruitment. Here I will get to learn key skill of recruitment process which will help me in my personal life as well as in my professional career. The AVIVA consist of many departments like Administration, Operation, Sales and Marketing, IT, Training and SRU. The Strategic Recruitment Unit (SRU) handles recruitment, training and development monitoring overall growth of the agency business. AVIVA is the India’s leading Life Insurance Company and still growing. I am coming in AVIVA as a project trainee for 2 months and I want to work here after my training because it is an MNC and I will be lucky if I get an opportunity to work here.
  • 5.
    Contents 1. Introduction 2. JointVenture of AVIVA with Dabur 3. AVIVA Product Portfolio  Child  Savings  Retirement  Protection  Health  Rural 4. Recruitment and Selection  Purpose of Recruitment  Sources of Recruitment 5. Selection Process  Advertising  Job Specification  Person Specification 6: An Opportunity with Benefits 7: Rewards and Recognitions for FPA 8: Analysis of the Project 9: Conclusion
  • 6.
    Introduction Aviva Aviva plc isa global insurance company headquartered in London, United Kingdom. It is the fifth-largest insurance company in the world measured by net premium income and has 53 million customers in 28 countries and 54000 employees’ world wide. It is the market leader in both general insurance and life and pensions in the UK and has major businesses in Continental Europe, North America and Asia. Its primary listing is on the London Stock Exchange and it is a constituent of the FTSE 100 Index. It has a secondary listing on the New York Stock Exchange. Aviva can trace its history back to Hand in Hand Fire & Life Insurance Society in 1696. It was created by a merger of Norwich Union and CGU plc[5] (itself created by the 1998 merger of Commercial Union and General Accident) as CGNU in 2000. The Aviva name was adopted in July 2002. Andrew Moss is the group CEO of Aviva. In June 2009 the Company decided to dispose of Navigator, its Australian wealth management business, to National Australia Bank for A$825 million (£401 million). As per the survey conducted by Great Places To Work and Economic Time AVIVA ranked 4th among India's great places to work and ranked 1st among financial services firm in 2009.
  • 7.
    Dabur Dabur India Limitedis the fourth largest FMCG Company in India established in the year of 1884 . It is India’s oldest largest group of companies. Revenues of US$910 Million (Rs 4110 Crore) & Market Capitalization of US$4 Billion (Rs 20,000 Crore). Building on a legacy of quality and experience of over 125 years, Dabur operates in key consumer products categories like Hair Care, Oral Care, Health Care, Skin Care, Home Care & Foods.
  • 8.
    Joint Venture ofAviva with Dabur  Aviva started its journey in India on 6th June in 2002 with Dabur. 74% stake 26% stake  Aviva holds the minority 26% stake and Dabur holds 74%.  Aviva has over 90 exclusive Banc assurance partnerships worldwide.  Aviva’s Corporate Office is in Gurgaon, Delhi.  Aviva has 208 branches and 40 Banc assurance partnerships spread across with 3000 cities and towns in India.  Pioneers of Unitized products in India.  American Express Bank, ABN- AMRO Bank, CBOP, IndusInd Bank, Lakshmi Vilas Bank, Punjab and Sind Bank, etc are tie ups with Aviva.
  • 9.
     Its brandambassador is the famous cricketer Sachin Ramesh Tendulkar. Aviva Product Portfolio Child Aviva Young Scholar Advantage Aviva Young Scholar Advantage is a comprehensive plan that enables you to secure your child’s future in any eventuality through:  All future premiums being waived off and invested as a lump sum amount in to the funds, so the policy continues even in the unfortunate event of the parent’s death while the Life Cover (Sum Assured) is paid out immediately. These benefits are also applicable upon disability or critical illness if the Comprehensive Health Benefit (CHB) Rider is opted  Provision of a regular income for the minor child, in the event of parent’s death if Aviva Child Education (CE) Rider is opted for  An additional lump sum being paid in the event of parent’s death if Aviva Term Plus Rider is opted  Loyalty Additions to enhance your Fund Value  A choice of 8 fund options; Investment flexibility through Automatic Asset Allocation (AAA) and Systematic Transfer Plan (STP)  The product will be offered only to those who have atleast one child Aviva Young Scholar Secure At Aviva we believe there is no greater insurance in the world than a good education. Education is the bridge between your child’s dreams and reality. This journey has many milestones -schooling years leading up to Board exams, entrance exams, college years and professional courses. Each of the milestones
  • 10.
    has a costattached to it right from extra coaching for Boards to reference material for entrance exams to admission fee for a professional course. Now guarantee funds for each of these milestones with Aviva Young Scholar Secure and provide your child the best education. With AYS Secure you can plan your savings and payouts for your child’s education in a manner that match the child’s educational journey. Savings Aviva Freedom Life Advantage Aviva Freedom Life Advantage allows you to choose the proportion of savings and protection and change it subsequently, in line with your changing needs, with the option to pay premiums for as few as 5 years, through:  Option to increase / decrease Life Cover (Sum Assured)  Option to cover husband and wife under the same policy  100% allocation from sixth year if Annual Premium is Rs. 1 lakh or more  Inbuilt Accidental Death cover  Loyalty additions every 3 years from the end of 10th policy year  Pay off all the premiums in 5 years or choose to pay throughout the term  Flexibility to choose Life cover  Enhance maturity proceeds and life cover with Top-up Premiums  Select from two optional riders for additional protection – Aviva Dread Disease (DD) Rider and Aviva Term Plus Rider  8 fund options (Bond-II, Protector-II, Balanced-II, Growth-II, Enhancer-II, Infrastructure, PSU, and Index-II Funds), AAA & STP Aviva Dhan Vriddhi Aviva Dhan Vriddhi is a traditional money back plan that provides you a guaranteed amount of money at regular intervals along with protection through the Life Cover (Sum Assured), in the event of death
  • 11.
     Guaranteed returns:Guaranteed Additions @7% of Life Cover for each completed policy year till maturity  Limited premium payment: Premiums are not required to be paid during the last five years of the policy  Additional protection: You can opt from 5 riders to enhance protection with the benefits ranging from additional Sum Assured for the incident covered, waiver of future premiums and also a regular income for your beneficiary in case you are not around  Rebate for high Sum Assured: Rebate on basic premium is allowed if your Sum Assured is Rs. 1 Lac or higher Aviva Money Back Aviva Money Back Policy is a comprehensive policy that allows you to accumulate savings along with valuable life cover protection through:  A percentage of the Life Cover is paid out, depending on the policy term, at the end of pre-defined years  Guaranteed Additions and Simple Reversionary Bonuses Aviva LifeSaver Advantage Aviva Life Saver Advantage is predominantly a savings plan that offers disciplined saving with high level of financial security for the family, in case something untoward happens  Increasing death benefit: o Life Cover (Sum Assured) plus Fund Value as death benefit  Flexible Life Cover (1.05 x Policy Term x Annual Premium) to (1.5 x Policy Term x Annual Premium)  Inbuilt Accidental Death cover
  • 12.
     Select fromthe two optional riders – Aviva Child Education (CE) Rider and Aviva Dread Disease (DD) rider  Long-term savings in line with changing needs: o Pay top-up premiums to increase the savings element along with a nominal life cover o Reduce life cover under the base plan  Fund options - Bond-II, Protector-II, Balanced-II, Growth-II, Enhancer-II, Infrastructure, PSU and Index-II Funds, o STP option available for safer entry into and exit from equities Aviva Life Bond Advantage Aviva LifeBond Advantage is a Single Premium unit linked insurance plan that offers you an opportunity to invest a lump sum for medium to long term together with Life Cover and flexibility to access your money after 5 years, besides the regular tax benefits through:  Eight unit linked funds as well as two options for life cover  Extra financial protection through the inbuilt Accidental Death Benefit  Systematic partial withdrawal for hassle free structured withdrawal  Opportunity for additional investment with a nominal life cover (top-up) Aviva Dhan Varsha Aviva Dhan Varsha is a traditional investment cum protection plan that provides you Guaranteed Addition of 6% to 9% of the sum assured along with life protection  Guaranteed Additions basis the policy term, longer the Policy Term, higher the rate of Guaranteed Additions  Guaranteed Survival Benefit equal to sum of all accrued guaranteed addition at the end of the Premium Payment Term  Guaranteed Maturity Benefit at the end of the Policy Term
  • 13.
     No premiumpayment liability during the last five years for policy term of 10, 15 and 20 years  Optional riders for additional protection in the event of accidental / non- accidental death Aviva Sachin Extra Cover Advantage Aviva Sachin Extra Cover Advantage is a hassle-free savings plan that gives you a high life cover without undergoing any medical examination by signing a self- declaration of good health. This plan offers high Life Cover (Sum Assured) in the first 10 years and reduces in the last 10 years balancing your need for high protection during initial years and investment towards maturity.  No medical examination  Higher Life Cover  Loyalty Additions to boost maturity proceeds  Eight fund options including Infrastructure and PSU Fund  In-built accidental death cover for enhanced protection Retirement Aviva Secure Pension Aviva Secure Pension is a comprehensive plan to provide you with the dual benefits of pension and protection through:  Guaranteed additions to the sum assured in the first three policy years.  Attractive returns by participation in the company’s profits and an additional terminal bonus on maturity. Aviva Pension Builder Your retirement savings plan is an essential part of your future financial security. In volatile investing environment, the best protection against market uncertainty is a guaranteed retirement corpus from your pension plan. Presenting
  • 14.
    Aviva Pension Builderwith guaranteed maturity benefit and increasing death benefit to support your family in any unfortunate turn of event. With Aviva Pension Builder you can choose to build your retirement fund with savings accumulated during your working life or make a lump sum one time investment. This plan offers a guarantee of double of the premiums you have paid as maturity proceeds and offers your family an unmatched support with death benefit of return of all the premiums paid with an interest calculated @10% per annum, compounded annually till date of death. Protection Aviva LifeShield Plus Aviva LifeShield plus provides comprehensive protection for your family at a nominal cost through:  Payment of Life Cover (Sum Assured) to your family in the event of your death, with a provision of double the Life Cover in the case of an accidental death.  Immediate payment of the Life Cover in the case of critical illness or permanent total disability, while life cover continues till the policy term  Most competitive rates Aviva LifeShield Aviva LifeShield provides low cost protection to your family through: o Guaranteed payment of lump sum to the nominee in case of death of the life insured within the policy term. o Preferred rates to the customers opting for higher sum assured and to the Aviva PensionPlus Policyholders o Flexibility of increasing the sum assured on life stage events like marriage and birth.
  • 15.
    Aviva LifeShield Advantage AvivaLifeShield Advantage provides comprehensive protection for your family incase you are not around. Additionally, all the money paid as premium will be returned to you on survival at the end of the Policy Term through:  Payment of Life Cover (Sum Assured) to your family in the event of your death (Option A)  Additional protection against Accidental Permanent Total Disability (Option B)  Return of the money paid towards the base premium on your survival at the end of the policy term  Additional protection against Permanent Total Disability (PTD) and 18 Critical Illness covered by the Aviva Dread Disease (DD) Rider (available with Option A regular premium mode)  A rebate on your premium for higher levels of Sum Assured Aviva LifeShield Platinum At Aviva we are constantly innovating because we believe that each one of us is different and so is our expectation from our life insurance plan. Presenting Aviva Life Shield PlatinumTM , a unique protection plan to help you plan for your family in case you are not around. Option A – Life Protection Choose this option if you foresee a need for lump sum payment of large sum of money to your family in case you are not around. You can opt for additional health and Accidental Death Benefit rider. We offer differential rates for Smokers, Non-smokers and preferred rates for (Healthy) Non-smokers. The special rates for non-smokers is subject to Cotinine test, which is available in select cities. Option B – Income Replacement Choose this option if you want to provide a regular monthly income to your family
  • 16.
    in your absence.This amount increases by 5% p.a. compounded annually from the very first year of your policy to beat inflation. Your premium obligation is limited to about 2/3rd of the policy term. Option C – Loan Protection. Choose this option to cover for higher financial liabilities and family responsibilities in the early years of your life, the Life Cover decreases evenly across the policy term. Your premium obligation is limited to about 2/3rd of the policy term. This Insurance plan offers rebate on your premium for higher levels of Sum Assured. Aviva i Life In today’s fast-paced life, rarely do we stop and take stock of the life cover we provide for our families in case something unfortunate was to happen to us. To ensure your families are secure and lead a comfortable life, in case you are not around, we bring to you Aviva i Life - A pure life insurance cover for your loved ones at a very nominal cost. To offer you convenience at your fingertips, you can buy this term plan online to save the time and effort that would have been otherwise required. Health Aviva Health Plus Aviva Health Plus is a health cum savings plan that provides a cover on life, accidents, critical illnesses, disabilities, surgery and hospitalization, while guaranteeing the return of a part of the premium on maturity through:  Provision of a Life Cover (Sum Assured) on death  Additional protection against accidental death and disability  Coverage against Total Permanent Disability due to sickness
  • 17.
     Coverage against18 critical illnesses  Protection against 37 major surgeries  Cash payout in case of Hospitalisation  Guaranteed maturity benefit, even if all health benefits have been claimed Rural Aviva Amar Suraksha Aviva Amar Suraksha is an ideal protection plan that helps you secure your family's future through:  A guaranteed lump sum amount in the unfortunate event of your death  Minimal annual premium of Rs. 500. Aviva Jana Suraksha Aviva Jana Suraksha provides comprehensive financial protection for your children/dependants through:  Low cost life insurance  Guaranteed lump sum amount in case of your death during the term of the policy. Aviva Grameen Suraksha
  • 18.
    Aviva Grameen Surakshais an ideal low cost solution to help you protect your loved ones through:  Payment of Sum Assured to your family in the event of your death  Premium payment for 2 years and benefits for full the policy term Recruitment and Selection Definition of HRM Human Resource Management (HRM) is the function performed in organizations that facilitates the most effective use of employees to achieve organizational and individual goals.
  • 19.
    Recruitment is aprocess to discover the sources of manpower to meet the requirements of the staffing schedule and to employ effective measures for attracting that manpower in adequate numbers to facilitate effective selection of an efficient workforce. Purposes and Importance The general purpose of recruitment is to provide a pool of potentially qualified job candidates. Specifically, the purposes are to: Human Resource Management Recruitment Selection Training and Development Motivation Employment Legislation Productivity Trade Union Rewards System
  • 20.
    • Determine thepresent and future requirements of the organization in conjunction with its personnel-planning and job-analysis activities. • Increase the pool of job candidates at minimum cost. • Help increase the success rate of the selection process by reducing the number of visibly, under qualified or overqualified job applicants. • Help reduce the probability that job applicants, once recruited and selected, will leave the organization only after a short period of time. • Begin identifying and preparing potential job applicants who will be appropriate candidates. Sources of Recruitment Internal Sources 1. Transfer and Promotion 2. Employee Referral
  • 21.
    3. Job Posting 4.Former Employees 5. Previous Applicant 6. HR Data Bank External Sources 1. Advertisement 2. Campus Recruitment 3. Employment Exchange 4. Gate Hiring and Contractors 5. Consultants 6. E-Recruiting 7. Acquisitions and Mergers Selection is the process of picking individuals who have relevant qualifications to fill jobs in an organization. The basic purpose is to choose the individual who can most successfully perform the job from the pool of qualified candidates. Selection Process
  • 22.
    I was exclusivelyconnected with the staffing process of the association which comprise of hiring of the Financial Planning Advisor who handle the selling and marketing of different insurance products of the company. The process starts with the publicity part. In the beginning the data were gathered which later converted into leads by analyzing the requirement of the profile. Then calling up the probable candidates to fix up their interviews. In the screening the candidates were considered as per the company’s prospect and as per the criteria set up to hire FPAS by IRDA(Insurance Regulatory and Development Authority). The job information and job profile are disclosed to the candidates during the
  • 23.
    interview process whichhas 3 stages. After the last round of interview the worthy persons are selected and joining formalities are carried out. 1: ADVERTISING  Generally data is gathered by searching job portals, different marketing activities and employment surveys.  After gathering the data, analysis is done and resume are short listed.  At last candidates are called for the interview. In order to increase man power in company, different marketing activities are performed including canopy activity, arranging painting competition in schools, job posting, campus interviews, organizing career fairs. For women empowerment different types of activities like slogan writing competition is organized for housewives. Employment surveys are carried by tele-calling by the data generated through broadband. Then the eligible candidates are called for the interview by telecalling. 2: JOB SPECIFICATION
  • 24.
    In this segmentthe job profile is disclosed to the candidate, some extra information is given for the company and the job responsibility, career growth, benefits and payout structure is explained to the candidate. The main responsibility of the interviewer is to make the applicant understand the company’s unique sales process.  Fixing appointment with the client.  Needs analysis using opinion poll.  Prepare financial health check-up report.  Proposal signing.  Presentation to the client.  Analyzing the report. If a person joins Aviva for a stable career, Aviva helps the person to grow. Sales Director DSF Director Regional Manager Head Zonal Manager Branch Manager Sales Manager Assistant Sales Manager Financial Planning Advisor
  • 25.
    3: PERSON SPECIFICATION Avivaprefer housewives, retired persons and fresh graduates. The minimum qualification for a candidate is to be graduate and there is no age bar for this job . The employee has a freedom of working either in part time or full time. The employee must have convincing power and great contacts, positive and go getting attitude. He should prefer his job first. What Next After completing these 3 rounds the deserving candidate is selected and joining formalities is completed. These simple steps will help you join Aviva’s Financial Planning Advisor Program  Fill the “My Oppurtunity 100” form to better understand your ‘natural market’.  Submit your Recruitment Docket duly filled with required documents.  Attend a company-sponsored professional IRDA-mandated course, over 2 weeks.  Qualify the simple IRDA Insurance Advisor’s examination.  Once the formalities are completed, your nearest branch office will contact you for support.
  • 26.
    Rewards and Recognitionsfor FPA CHAMPIONS LEAGUE Achieve defined target and earn recognisition at regional level Get certificate of recognisition and trophy from sales director Earn dollar points QUATERLY CONTESTS & PLATFORMS Earn rewards in the form of gold, Household appliances Get crowned as star achiever on the basis of your achievement BLUE RIBAND Highest level of recognition in AVIVA Exclusive foreign trips and Meeting CEO MDRT Highest level of recognition worldwide worldwide 0 to 3 Months Every 3 Months Annual Platform Annual International Convention
  • 27.
    Analysis of theProject Being a part of AVIVA life Insurance SRU department for the time period of 2 months I had gained a lot of experience about the company, work environment of an MNC, work culture, detail knowledge about insurance industry, importance of HR department and basic function of HR manager. My sincerity and punctuality, seriousness towards my work has helped me a lot in order to complete this project. For 2 months I was placed in SRU involved in recruiting Financial Planning Advisor. I was awarded for my good performance in recruiting FPA. I used to train those candidates who joined in recruitment department. I used to take part in marketing activities like drawing competition in a fair, I used to visit schools and colleges for recruitment also. I was the leading performer on PAN INDIA basis. Life Insurance industry is the rising industry in India.
  • 28.
    Conclusion As everyone knowsthat the Insurance sector is one of the most booming industries in India. AVIVA is the leading organization among all the Insurance Company. As I stated earlier that I had joined AVIVA as a project trainee was one my most memorable experience because here I gained a lot of knowledge in the recruitment field as well as in the field of Insurance. After commencement of my project under experienced people I recruited many candidates which increased my experience. Here I came to know as well as experienced the working culture of an MNC and learned the qualities of a good leader and I also learned how to maintain corporate relationship. By taking part in marketing activities which were held in schools, colleges and fairs enhanced my communication skills which in future are going to be my key skill in my HR professional career.