CONTENTS

1. INTRODUCTION

2. INTRODUCTION TO HRM

3. PROFILE OF BAJAJ ALLIANZ

4. PROFILE OF THE ORGANISATION

5. SURVEY ANALYSIS AND INTERPRETATION

6. SUMMARY OF FINDINGS

ANNEXURES

QUESTIONNAIRE

BIBLIOGRAPHY

1
CHAPTER –1
INTRODUCTION
 Introduction
 Relevance of study
 Objectives
 Material and Methodology
 Scope of study
 Limitation

CHAPTER - 2
INTRODUCTION TO HRM
 General Introduction to the HRM
 Evolution of HRM
 Meaning and Definition
 Objectives
 Scope
 Importance

CHAPTER-3
PROFILE OF BAJAJ ALLIANZ
 Introduction
 History of Bajaj Allianz insurance company limited
 Achievements of Bajaj Allianz life insurance company limited
 Objectives of Bajaj Allianz life insurance company limited

CHAPTER-4
PROFILE OF THE ORGANISATION
 Introduction to the branch
 Span of Management
 Organization Structure of Personnel Department
 HRM in branch
 Benefits to Employees

2
CHAPTER – 5
SURVEY ANALYSIS AND INTERPRETATION

CHAPTER-6
SUMMARY OF FINDINGS
 General objectives of the survey
 Suggestion
 Conclusion

ANNEXURES
 Questionnaire
 Bibliography

“Human Resource Management in Bajaj Allianz Life Insurance”, with

Special Reference to Shimoga Branch.

3
 CHAPTER –1

INTRODUCTION

 Introduction
 Relevance of study
 Objectives
 Material and Methodology
 Scope of study
 Limitation

4
Introduction

Indian industry is facing the challenges of global

competition. In order to fee the emerging corporate. The

corporate sector should look after the need of employees to that

quality goods are produced of quality services are rendered.

It is widely believed that only quality people produce

quality goods or service. Here fore the corporate organisation

should develop good quality human resource4s who are

committed to organizational growth.

Here the physical and mental needs of the employed are

to be fulfilled. This change, presently noticed in the Bajaj

Allianz life insurance company Limited. This concession about

taking care of the employees needs with socio, economic

development was studied under following chapter.

This project report is an human resource management in

Bajaj Allianz Life Insurance company Limited. This report

consults of at together six chapters.

5
Relevance of Study:

The study was under taken to know the recruitment,

selection, training, promotion and transfer of the permanent in

the Bajaj Allianz Life Insurance Limited. Human resources is a

one of the most important sources in the word the Bajaj Allianz

is connected with use of those manpower for its exponential

growth, Human Resources and Bajaj Allianz life insurance go

hand in hand.

The project show the loopholes and problem of power in

proper utilization of the same the study give the solution for

the smooth running of services with efficient are of man power

resource on the Bajaj Allianz. Particular the study is a who

mode to know the human relation in the Bajaj Allianz life

insurance Company.

6
Objectives of Study

The prevent study aims at the following objectives.

1. To know about the effective utilization of man power in

Bajaj Allianz Life Insurance Companies.

2. To know the exponential growth of human resources in

connection with the wealth creation.

3. To see how the employees are recruited, selected and

trained.

4. To study the criteria followed in giving promotion and

circumstances under incentive schemes are given

5. To see the wage and salary administration of the self

employees and workers.

6. To study the motivation all schedules and schemes adopted

and implemented for the welfare of employees of work.

7. To study the human resources development and area of

human resources development in Bajaj Allianz Life

Insurance Company Limited.

8. To study the relationship b/w management and employees.

7
9. To study the role of higher rank employee in development

executive ranks.

Materials and Methodology:

To achieve the above objectives, data is collected from the

primary data and secondary source; the secondary data were

obtained from the monthly magazine, spy bulletin, Internets.

How the copy act your way to wealth, most of the secondary

data collected from books published by different authors. The

higher rank manage view points about the some excellent and

wonderful creative idea regarding human resources are

included whenever available and necessary.

8
COLLECTION OF DATA:

Primary data:

Primary data is one, which is original in nature and pure

in character. It is fresh data obtained by the organization

directly, primary data is collected by personal interview of with

manage. Senior manager and branch incharge and

questionnaire with employee of the company and data is

collected from the monthly weekly meetings need at branch

office some conference also helps in getting information for the

preparation of the effective project report.

Secondary data:

Secondary data are those duties which are not original in

nature there duties are published someone are published

duties. Beside primary data, data is conducted from secondary

source like company circulars, books, files, newspapers

magazines and HRD news net and al project reports.

9
Scope:

The project report collected the necessary information

and data the branch office shimoga and head office Bangalore.

The study is mainly concentrate on the human resources

development ; the report also viewed the proper utilization of

man power.

Limitations:

The study had certain limitation, they are,

1. The study is based on the data’s given by the Bajaj Allianz

Life Insurance company.

2. Only indepth study about personnels recruitment, selection

and promotion, which bring fruitful results.

3. Non availability of some data also effected the quality of

project report.

4. The time and Money containers have also affected quality of

the project

10
 CHAPTER - 2

INTRODUCTION TO HRM

GENERAL INTRODUCTION TO THE HRM

EVOLUTION OF HRM
MEANING AND DEFINITION
OBJECTIVES
SCOPE
IMPORTANCE

11
 INTRODUCTION TO HRM

General Introduction

Taking a Look at the world of human beings is a

rewarding experience. Contracts abound in this world. Beauty

is juxtaposed with ugliness, mercy with cruelty, compassion

with indifference, health with disease, happiness with misery,

industriousness with laziness, and affluence with poverty.

There contracts remain so, despite the passage of time,

sweeping political & economic changes, and cultural

differences. Contrasts not withstanding, one thing is certain- it

is the people who make an organization a success or allow it to

be handed over to the Board for Industrial & Financial

Reconstruction (BIFR). Who are these so called patrons? How

to attract them? How to retain them? How to motivate them?

These and other such questions need an in-depth study. The

present book makes an attempt to study these questions.

12
Evolution of HRM

As a part of introduction to the subject, it is useful to

study the evolution of HRM. HRM, a relatively new term,

emerged during the 1970’s. Many people continue to refer to

the discipline by its older, more traditional titles, such as

personnel management or personnel administration.

The trend is changing. The term nowadays used in

industry circles is HRM. Coming to the evolution of HRM as a

subject, it may be stated that concern for the welfare of workers

in the management of business enterprises has been in

existence since ages. Kautilya’s Arthashastra states that there

existed a sound base for systematic management of resources

during as early as the 4th century BC. The government then took

an active interest in the operation of public & private sector

enterprises and provided systematic procedures for regulating

employer-employee relationships.

13
 Elsewhere, human resources in organizations received the

management’s attention much earlier. As early as in 1800 BC

itself, ‘minimum wage rate’ and ‘incentive wage plan’ were

included in the Babylonian Code of Hammurabi.

Experts of HRM in our country have tried to chronicle the

growth of the subject only since the 1920’s. This was the period

when state intervention to protect the interests of workers was

felt necessary because of the difficult conditions which

followed the First World War, and the emergence of trade

unions. The Royal Commissions (1931) recommended the

appointment of Labour-welfare officers to deal with the

selection of workers and to settle their grievances. The Factories

Act, 1948, made appointment of welfare officers compulsory in

industrial establishments employing 500 crores more workers

each.

In course of time, two professional bodies, the Indian

Institute of Personnel Management (IIPM) and the National

Institute of Labour Management (NILM), were set up. IIPM

14
had its headquarters at Calcutta and NILM at Mumbai. These

two places were the premier centers of traditional industry (jute

and cotton respectively) in pre- independent India.

The aftermath of the Second World War and the country’s

political independence witnessed increased awareness and

expectations of workers. During the 1960’s, the personnel

function began to expand beyond the welfare aspect, with

labour welfare, IR and personnel administration integrating

into the emerging profession called personnel management

(PM). Simultaneously, the massive thrust given to the heavy

industry in the context of planned economic development,

particularly since the Second Five-Year Plan and the accelerated

growth of the public sector in the national economy resulted in

a shift in focus towards professionalization of management.

By the 1970s, a shift in professional values was

discernible. It shifted from a concern for welfare to a focus on

efficiency. In the 1980’s professionals began to talk about new

technologies, HRM challenges and HRD. The two professional

15
bodies, IIPM and NILM, merged in 1980 to form the National

Institute of Personnel Management (NIPM).

In the 1990’s the emphasis shifted to human values and

productivity through people. Reflecting this trend, the

American Society for Personnel Administration (ASPA) was

renamed as the Society for Human Resources Management

(SHRM). Thus, beginning in the 1920’s the subject of HRM has

grown into a matured profession. The below table shows the

evolution of HRM

16
 Evolution of H.R.M. In India.

Period Development Outlook Emphasis Status

Status
1920s- Beginning Pragmatism of Statutory Clerical
1930s capitalists welfare,
paternalism
1940s- Struggling for Technical, Introduction of Administrative
1960s recognition legalistic technical
1970s- Achieving Professional, Regulatory, Managerial
1980s sophistication Legalistic, conforming,
Impersonal imposition of
standards on
other functions
1990s Promising Philosophical Human values, Executive
productivity
through people

(Source: C.S. Venkataratnam and B.K Srivastava, Personnel

Management and Human Resources page 5)

17
 MEANING AND DEFINITIONS OF HRM

Meaning:

Human Resource Management is concerned with

managing people at work. It covers all levels in the

organizations. It applies to workers, supervisors, officers,

managers and other types of personnel.

HRM is concerned with employees as individuals as well

as groups. It is the task of dealing with human relationship

within an organization. It is the process of achieving the best fit

between individuals, jobs, organizations and the environment.

It is the process of bringing people and organizations together

so that the goals of each are met.

Definitions:

According to National Institute of Personnel Management

of India, “HRM is that part of management concerned with

people at work and with their relationship within the

organization. It seeks to bring together men and women who

18
make up an enterprise, enabling each to make his own best

contribution to its success both as an individual and as a

member of a working group”.

In the words of Flippo- personnel management or human

resource management is “the planning, organizing, directing

and controlling of the procurement, development,

compensation, integration, maintenance and reproduction of

human resource to the end that individual, organizational and

societal objectives are accomplished.

Scott and others have defined as follows:

Human Resource management is that branch of

management which is responsible on a staff basis for

concentrating on those aspects of relationship of management

to employees and employees to employees and with the

development of the individual and the group. The objective is

to attain maximum individual development, desirable working

19
relationship between employers and employees and

employees, and effective moulding of human resources as

contrasted with physical resources”.

OBJECTIVES OF HRM

Every organization has some objectives and every part of

it should contribute directly or indirectly to the attainment of

desired objectives. Objectives determine the character of an

organization and serve as the basis for voluntary co-operation

and co-ordination among employees. In this light the objectives

of human resource management may be summarized as

follows.

(i) To help the organization attain its goals by providing well

trained and well motivated employees.

(ii) To employ the skills and knowledge of employees

efficiently and effectively, i.e. to utilize human resource

effectively.

20
(iii) To enhance job satisfaction and self-actualization of

employees by encouraging and assisting every employee

to realize his/her full potential.

(iv) To establish and maintain productive, self respecting and

internally satisfying working relationships among all the

members of the organization.

(v) To bring about maximum individual development of

members of the organization by providing opportunities

for training and advancement.

(vi) To ensure the integration of all the individuals and group

with the organization by reconciling individual /group

goals with those of an organization.

(vii) To develop and maintain a quality of Work Life (QWL)

which makes employment in the organization a desirable

personal and social situation.

(viii) To maintain high morale and good human relations

within the organization.

21
(ix) To help maintain ethical policies and behavior inside and

outside the organization.

(x) To manage change to the mutual advantage of

individuals, groups, the organization and the society.

(xi) To recognize and satisfy individual needs and group

goals by offering appropriate monetary and non-

monetary incentives.

SCOPE OF HRM

The scope of personnel management has expanded

considerably in recent decades. Now techniques and styles of

managing human resources, research in behavioral science,

establishment of training institutions, etc, have contributed to

the expansion of personnel function.

The Indian Institution of Personnel Management has

described the scope of human resource management in to the

following aspects:

22
1. The Labour or Personnel aspect:

It is concerned with man power planning, recruitment,

selection, placement, induction, transfer, promotion, demotion,

termination, training and development, lay off and

retrenchment, wage and salary administration (remuneration),

incentives, productivity, etc.

2. The Welfare Aspect:

This aspect of concerned with working conditions and

amenities such as canteens, crèches, rest rooms, lunch rooms,

housing, transport, education, medical help, health and safety,

washing facilities, recreation and cultural facilities, etc.

3. The Industrial Relations Aspect:

This is concerned with the company’s relations with the

employees. It includes union-management relations, joint

consultation, negotiating, collective bargaining, grievance

handling, disciplinary actions, settlement of industrial disputes,

etc.

23
 IMPORTANCE OF HUMAN RESOURCE MANAGEMENT

The significance of human resource management can be

discussed at four levels corporate, professional, social and

national.

1. Significance for an Enterprise:

Human Resource Management can help an enterprise in

achieving its goals more efficiently in the attracting and

retaining the required talent through effective human resource

planning, recruitment, selection, placement, orientation,

compensation and promotion policies.

2. Professional significance:

Effective management of human resources helps to

improve the quality of work life. It permits team work among

employees by providing a healthy working environment.

3. Social Significance:

Sound human resource management has a great

significance for the society. It helps to enhance the dignity of

24
labour in providing suitable employment that provides social

and psychological satisfaction to people.

4. National Significance:

Countries are underdeveloped because their people are

backward. The level of development in a country depends

primarily on the skills, attitudes and values of its human

resources. Effective management of human resources helps to

speed up the process of economic growth which in turn leads to

higher standards of living and fuller employment

25
 CHAPTER-3

PROFILE OF BAJAJ ALLIANZ

 Introduction

 History of Bajaj Allianz insurance company limited

 Achievements of Bajaj Allianz life insurance company limited

 Objectives of Bajaj Allianz life insurance company limited

26
 PROFILE OF BAJAJ ALLIANZ

INTRODUCTION:

Bajaj Allianz Life Insurance Company is a 74:26 joint

venture between Bajaj Auto Limited and Allianz AG, Germany

(formerly Allianz Bajaj Life Insurance Company Limited). It is

the fastest growing private life insurance company in India.

Allianz AG is a leading insurance conglomerate globally and

the largest asset manager in the world, managing assets worth

over 996 billion Euros (Rs. 53, 64,456 crores). At Bajaj Allianz,

‘customer delight’ is their guild line principle. It is ensuring

world class solutions by offering people customized products

with transparent benefits supported by the best technology is

their business philosophy.

27
HISTORY OF BAJAJ ALLIANZ INSURANCE COMPANY

LIMITED:

Henry Little would hardly recognize the insurance

company he started in 1896 as North American Casualty,

Henry’s dream grew to become Allianz Life Insurance

Company of North America (Allianz Life®) after being

acquired by Allianz AG of Munich, Germany in 1979, and

become a company of Allianz AG. Allianz Later Allianz AG is

merged with Bajaj Auto Limited of India, which is the flagship

company of the Rs. 8000 crore & which is the largest

manufacturer of two-wheeler and three wheelers in India and

one of the largest in the world .Allianz AG is now one of the

world’s largest integrated financial services organization with

operations in 70 countries around the globe.

ACHIEVEMENTS OF BAJAJ ALLIANZ LIFE INSURANCE

COMPANY LIMITED:

Bajaj Allianz Insurance Company has the second position

in the Indian private Insurance Sector having steered the Rs.

28
480 crores. Bajaj Allianz Life (premium income Rs. 220 crore)

has jumped three paces to occupy the fourth slot in the 13

strong life insurance industry. Today the company is in the

midst of pursuing its twin corporate ‘dream’ goals- to close this

fiscal with a premium income of Rs. 750 crore and occupy the

number three slot displacing the incumbent Birla Sun Life

Insurance Company Limited. Given the daily collections- over

Rs. 1 crore-and its month-on-month growth, the second may

come true sooner.

According to the Insurance Regulatory and Development

Authority (IRDA) figures, the new premium difference between

Bajaj Allianz Life and Birla Sun Life at the end of August 2004

was Rs. 37.5 Crore.

Looking at the sales mix, Bajaj Allianz Life is logging

impressive sales in the individual single premium segment. For

the period April-August 2004, the company earned Rs. 50.35

crore selling 5,657 single premiums averaging around Rs 89,004

per policy. The individual non-single premium policies

29
accounted for Rs. 92.59 crore. Last year the company had to

transfer Rs. 40 crores from the shareholders account to policy

holders account to declare bonus to its ‘with profit’ policy

holders.

OBJECTIVES OF BAJAJ ALLIANZ LIFE INSURANCE COMPANY

LIMITED:

Bajaj Allianz, one of the fastest growing insurance

company in Private Sector with over 300 percent growth in the

last two years, has targeted to increase its volume of business to

Rs. 7000 crores by next year from Rs. 1680 crores no “in fact by

the end of the current financial year (March 2006), it plans to

increase its business to Rs. 3000 crores, including Rs. 2500

crores as the premium income”, said Mr. Sam Ghosh, Country

Manager Allianz and CEO Bajaj Allianz.

During the next one year (2006-07) it is planed to double

the number of officers and branches from the present around

500 to at least 1000 with 20 percent of them coming up in rural

India. It is planned to make a deeper dent in India rural market

30
not only with its increased presence, but also by hiking its share

of business there (rural market) from around 15 to 18% how to

over 22% by December next year.

The following are the Important objectives of Bajaj Allianz

Ltd:

1. To develop the necessary skills and right attitudes among

the employees through training, development performance

appraises.

2. To secure willing cooperation of employees through

motivation grievance handling etc.,

3. To provide maximum opportunities for personal

developments.

4. To provide insurance cover and financial security to every

insurable person.

5. To build cordial relationship among employees.

6. To improve the quality of training.

7. To facilitate the basic necessitates of canteen, restroom etc.,

31
8. To meet the needs of expansion and diversification

programmes

9. To improve the performance of managers at all levels in

their present job.

FUNCTIONS :

The following are the important functions of Bajaj Allianz life

insurance Co. Ltd,

1. Obtaining detailed information of the clients business and

risk management philosophy.

2. Rendering advice and appropriate insurance could and

terms.

3. Maintaining detailed knowledge of insurance markets as

may be applicable

4. Submitting quotation received from insurers for

consideration of a clients

5. Providing requisites underwriting information as required

by an insurer in assessing the risk to decide price in

terms and condition for loses.

32
6. Providing services related to insurance consultancy and risk

management.

7. Assisting in the negotiation of the clients.

8. Maintaing proper records of clients.

9. Given instructions from clients and providing him written

acknowledgement and progress report.

33
 CHAPTER-4

PROFILE OF THE ORGANISATION

INTRODUCTION TO THE BRANCH

SPAN OF MANAGEMENT

ORGANISATON STRUCTURE OF PERSONNEL

DEPARTMENT

HRM IN BRANCH

BENEFITS TO EMPLOYEES

34
 INTRODUCTION TO THE SHIMOGA SATELLITE

BRANCH

Shimoga city is one of the important centers of insurance

industry. The branch was opened on 1.4.2004 and started its

functioning at M.G. Palace, 1st floor Nehru Road, under the

branch management of Mr. Shantilal and since then it has been

running business successfully.

The branch started its operation with only 48 members

including a branch manager. Then there were no proper

ventilation systems and separate cabins. All the works were

going very simple. With in a half year, it got progress by

spreading its popularity to all local cities and within the

Shimoga city also. Now, within a span of two years it has

become one of the leading life insurance companies in Shimoga

city.

The central office of Bajaj Allianz Life Insurance Company

Limited is at Pune and the South Central Office is at Bangalore

35
which is having control of 12 branches all over Karnataka

including its main branch of Bangalore. The Shimoga branch is

technically known as Shimoga Satellite Branch under the Bajaj

Allianz Co. Law. The Satellite branch is under the control of

Hub branch which is situated at Mangalore. With in two or

three months Shimoga Satellite Branch is going to become Hub

branch. Then it will have the control over all satellite branches

which would be opened at taluk levels.

With its day to day expansion the needs of proper

working conditions were also increased. To overcome this

problem, it has opened a separate office at 1st floor of M.G.

Palace itself exclusively for staff for handling customer

grievances.

36
SPAN OF MANAGEMENT

MANAGING DIRETOR

BRANCH MANAGER

WORKERS
SALES TEAM MANAGER

INSURANCE SERVICE
CONSULTANT

ORGANISATION OF HR DEPARTMENT

Two issues become relevant in a discussion on

organization of a HR department. They are (i) place of the HR

37
department in the overall set-up, and (ii) composition of the HR
department itself.
Status of the HR department in the total organizational
structure depends on whether a unit is small or large. In most
of the small organizations, there is no separate department to
co-ordinate the activities relating to personnel. In fact, there
may not be any personnel manager at all. Services of outsiders
who specialize in maintaining accounts and records relating to
provident fund, pension and other statutory requirements are
retained for a fee. The following figure shows the structure of
this type.
Owner /manager

Production Sales Office Personnel Accountant

Manager Manager Manager Assistant

HRM in a small scale unit

A large scale unit will have a Manager/ Director heading

the HR department. His or her status will be equal to that of

any executive. The bellowed figure shows this structure. This

38
arrangement holds well when the company has a single unit.

Where the company has multiple plants located in different

parts of the country, there may be a centralized HR/ personnel

department at the main or registered office and early plant will

have separate HR/personnel departments. Routine activities

relating to each plant are handled by the HR/personnel

department attached to the work, where as the broad policies,

matters concerning executives, and the like are handled by the

central department. This is the case with conglomerates as

BHEL. ITL and L & T

39
 Chairman and Managing Director

Production Finance Personnel/HRM Marketing R&

D
Director Director Director Director
Director

HRM in a large scale unit.

Coming to the composition of the HR department, it may

be stated that it depends on the scale of operations and attitude

of the top management towards its personnel. However, a

typical HR department is headed by a Director, under who are

Manager-Personnel, Manager-Administration, Manager-HRD

and Manager- Industrial Relations. The department will grow

in size and importance when new demands are placed on it by

the top management.

40
 ORGANISATIONAL STRUCTURE

CHIEF EXECUTIVE

PERSONNEL MANAGER

Employment Training Wage and Salary

Welfare
Officer Officer Officer
Officer

Clerks Clerks Clerks Clerks

Under this organizations structure authority flows from

top to the bottom of the organization. Every superior has direct

command over his immediate subordinate. Every employee is

accountable to one superior i.e. three is unity of command. The

authority relationships are clear and there is strict discipline.

But there is lack of specialization and flexibility.

41
 MANAGEMENT STRUCTURE

BRACH MANAGER

ADMINISTRATIVE OFFICERS

Assistant Branch Manger Assistant Administrative

officer

Development Officer Higher Grade Assistant

Assistant Typist Record Clerks Sub Staff

42
HRM MODEL

NATURE OF HRM

HUMAN RESOURCE PLANNING

JOB ANALYSIS
RECRUITMENT
SELECTION
E PLACEMENT
N
V TRAINING AND DEVELOPMENT
IR REMUERATION
O MOTIVATION COMPE
TENT
N PARTICIPATIVE MANAGEMENT AND
M WILLIN

E
COMMUNICATION G
WORK-
N SAFETY AND HEALTH FORCE

T WELFARE
PROMOTIONS, etc
INDUSTRIAL RELATIONS
TRADE UNIONSM Organizational
DISPUTESAND THEIR SETTLEMENT Goals

FUTURE OF HRM

As seen from the figure, the model contains all HR

activities. When these activities are discharged effectively, they

will result in a competent and willing workforce who will help

realize organizational goals. There is another variable in the

model-environment. It may be stated that the HR function does

not operate in vacuum. It is influenced by several external and

43
internal forces like economic, technological, political, legal,

organizational and professional conditions

HRM IN THE SHIMOGA SATELLITE BRANCH

RECRUITMENT:

Recruitment is a process to discover the sources of

manpower to meet the requirements of the staffing schedule

and to employ effective measure for attracting that manpower

in adequate numbers to facilitate effective selection of an

efficient working force. The process recruitment in the branch is

dividend into two. 1. Internal sources and 2. External sources.

Internal sources are most obvious sources. These include

personnel already on the pay role of an organization i.e. its

present working force whenever any vacancy occurs somebody

from within the organization is upgraded, promoted.

External sources include advertisement, casual callers,

employment exchanges, recruitment agencies, etc.

44
SELECTION:

Selection is the process of evaluating the capacity of the

potential employees in the light of job satisfaction. The selection

process is intended to measure the individuals’ capacity against

the job requirements. The object is to ascertain clearly, the type

of person required and to secure an appropriate candidate for

filling that position.

The used steps involved in selection process are as below.

1. Preliminary interview

2. Blank application

3. Tests

4. Interview

5. Medical examination

6. Final selection.

TRAINING:

45
 After an employee has been selected placed and inducted,

it becomes necessary to arrange for his training. While

education improves the knowledge & understanding of

employees in a general way, training aims at increasing the

skills & abilities of workers to perform specific jobs.

Training is the art of doing the job in a correct effective

and efficient manner. Under the Bajaj Allianz training is given

only by personnel staff & specialists. During the period of

training the trainee will be paid remuneration at the minimum

of scale applicable to their post.

PROMOTION AND TRANSFERS:

Promotion refers to advancement of an employee to a

higher post carrying greater responsibilities, higher status and

better salary. It is the upward movement of an employee in the

organization’s hierarchy.

46
 Under the Bajaj Allianz promotions can be made only on

the basis of seniority or merit or a combination of both.

WAGES AND SALARY ADMINISTRTION:

Employee compensation is a vital part of human resource

management. Wages, salaries and other forms of employee

compensation constitute a very large component of operating

costs. One of the biggest factors affecting industrial relations is

the salary or wage- the compensation on employee receives for

a fair day’s work.

Objectives of wage & salary administration under Bajaj

Allianz Shimoga Satellite Branch are as follows.

1. To establish a fair & equitable remuneration.

2. To attract competent personnel.

3. To retain the present employees.

4. To improve productivity.

5. To control costs.

6. To establish job sequences & lines of promotion.

47
 7. To improve union management relations.

8. To improve public image of the company.

BENEFITS TO EMPLOYEES

They provide insurance cover and financial security to every

insurable person.

They provide transportation charges to its sales executives

so as to increase sales.

They provide educational facilities to all the children of their

employees.

They also help in providing medical help either to his family

or on his own health.

Recreation, health and safety facilities are also providing.

Special benefits like provident fund, gratuity, accident relief,

health & group insurance also providing.

They provides perquisites like company car, club

membership, paid holidays, furnished house and stock

option schemes to his employees.

48
They help in providing good method of training to increase

technological changes in the work.

They handling the grievances & make the settlement of

disputes between employees.

They will act as trustees of their employees’ funds & invest

the funds to their best advantage.

They build & maintain cordial relationship between

employees.

49
 BENEFITS TO ITS CLUB MEMBERS FOR 2009-10

CLUB REQUIRED PREMIUM BENEFITS CONVENTION

SILVER 5 lacs of first year premium* with Benefits worth 6000 Branch head
minimum of 25 lives OR Convention
50 lives with an average premium
size of Rs. 7000 per policy
GOLD 10 lacs of first year premium* with Benefits worth Zonal level
minimum of 50 lives OR 15,000 Convention
100 lives with an average premium
size of Rs. 7000/policy
PLATINUM 50 Lacs of first year premium* with Benefits worthy Invitation to
minimum of 50 lives OR 3,00,000 international
300 lives with an average premium convention along
size of Rs. 7000/policy with a companion
MDRT 22 lacs of first year premium* Benefits worth Invitation to
1,50,000 International
convention
COT 66 lacs of first year premium* Benefits worth Invitation to
4,00,000 International
convention along
with companion
TOT 132lacs of first year premium* Benefits worth Invitation to
8,00,000 International
convention along
with 3 companion

50
NOTE:

1) All the regular premiums will be having a crore of 100% & all

single premiums will be having a crore of 10%.

2) All regular premiums will be having a crore of 100% & single

premiums will be having a crore of 6%.

3). Conditions applying: The minimum persistency levels

expected for all company clubs is 80%,

51
 CHAPTER – 5

SURVEY ANALYSIS AND INTERPRETATION

52
Analysis of collected data

After getting the information from all sources analysis is

made. It involves examination and verification of collected data

& information. Analysis implies critical examinations and

evaluation and policies, programs and procedure in the area of

human resource management. The primary aim of analysis of

collected data is to determine whether the personnel policies

and practices are consistent with organizational objectives.

However, the analysis is explained under the following tables,

graphs and diagrams.

53
1) Table showing employees age group:

Age Group No of Employee In percentage

18 – 25 7 23.34
25 – 30 12 40.00
30 – 40 6 20.00
40 - above 5 16.66
Total 30 100.00

Graph showing employees age group

54
2. Table showing the educational qualification of employees.

Educational No. of employee In percentage

Qualifications
Up to PUC 3 10
Graduate 10 33.34
Post graduate 10 33.34
MBA holder 7 23.33
Total 30 100.00

Result the regarding educational of the of the employees

shown in the above tabulation analysis can be made 10% of the

employee have passed PUC and 33.34% of the employee have

passed graduate, 33.34% of passed post graduate and 22.33% of

employee passed MBA.

55
Graph showing the educational qualification of employees

56
3. Table showing employees working under different levels:

Level of No. of In Employees

working employee percentage
Administrative 6 20 72
Assistance
Development 14 46.67 108
offices
Business 7 23.33 83
executive
Manager 3 10 36
Total 30 100 360

From the above table shows employee working under

different level of area as follows 72% of administration and

108% of Development officers and 36% bank employees

manager of the employee in Bajaj Allianz Life insurance

company.

57
Graph showing employees working under different levels

58
4. Table showing employees earning different amount of salaries.

Salaries No. of Employees In % In degree

Below 10000 4 13.34 48.02
10000-15000 13 43.33 156.00
15000-20000 4 13.33 47.98
20000-25000 9 30.00 108.00
Above 25000 - - -
Total 30 100.00 360.00

Graph showing employees earning different amount of

salaries

59
5. Table showing number of employees recruited through different sources.
Source of Recruitment No. of employees %
Recruiting Agencies 10 33.34
Employment exchange 7 23.34
Casual callers 3 10.00
Recommendations 2 6.66
Press Advertisement 8 26.66
Total 30 100.00

Graph showing the employees recruited through different sources

60
6. Table showing employees transferred , promoted , demoted.

Particulars No. of In percentage In degree

Employees
Transferred 10 33.34 120.02
Promoted 9 30.00 108.00
Denoted - - -
Not Changed 11 36.06 130.00
Total 30 100.00 360.00

From the above table showing the employees transfer of 33.34%

and 30% of employees promoted, 36.06% of the employees not

changes.

61
Graph showing employees transferred , promoted , demoted.

62
7.1 Table showing number of employees having life insurance

policy under Bajaj Allianz.

Particular No. of employees In % In degrees

Having insurance 21 70 252.00

policy

Not having 9 30 108.00

Total 30 100.00 360.00

From the above table showing numbers of employees having

life insurance policy under Bajaj Allianz life insurance company

Ltd.,

63
Graph showing number of employees having life insurance
policy under Bajaj Allianz

64
8. Table showing employees having different policies under

Bajaj Allianz.

Type of plan No. of employees In percentage

Unit gain plan 6 28.57
Pure term plan 7 33.34
Term plan with 8 38.09
premium
Whole Life - -
plan
Total 30 100.00

From the above table showing employees having

different policies under Bajaj Allianz are as follows. 28.57% of

unit gain plan, 33.34% of pure term plan and 38.09% of perm

plan with premium policy.

65
Graph showing employees having different policies under

Bajaj Allianz.

66
9. Relationship between employee & employer satisfaction

Particular No. of employees Percentage

Satisfaction 21 70
Not satisfactory 9 30
Total 30 100.00

From the above table showing employees having

satisfaction level under Bajaj Allianz are as follows. 7o% of
employees are satisfy and remaining 30% are not satisfied.

67
10. Training given through

Particular No. of employees Percentage

Conference 15 50
Audio visuals 8 35
Management 7 15
Total 30 100.00

68
ANALYSIS AND INTERPRETATION:

From the all tables, graphs and diagrams it is clear to

understand from the statistical studies. It states how the

personnel activities are to be carried out. It helps to reveal how

well the personnel policies are implemented. Analysis and

Interpretation of graph, tables, includes the calculation of ratios

and percentages from personnel statistics. Such measurement

will reveal useful trends in manpower utilization.

In the first table 1.1 one can know how many employees

have how much of educational knowledge. In this graph, there

is lack of M.B.A holders but the number of graduate employees

is abundant.

Coming to next graph (2.1.) which shows the office is

good at personnel placement. Here, all the personnel are placed

at first level of job.

In the table correlation (no.3) employees at different

levels are placed with different educational qualification. It

reveals how many, graduates, post graduates & MBA holders

69
are working as administrative assistant, development officer,

business executive and as manger.

Table no. 4 shows number of employees earning different

amount of salaries. Except 4 managers no one is getting more

than Rs. 25000 salary per monthly.

Correlation Table No.5 shows the employees earning

different amount of salaries with different level of work. Under

this graph only 4 managers earning more than Rs. 25000 and 3

M.B.A holders earning more Rs. 20000. Rests of all are earning

less than manger’s level of amount.

In the graph (6.2) employees recruited through various

sources. Only a few were recruited through recommendation

and maximum numbers of employees were recruited through

Recruiting agencies.

Under the branch 25 employees were transferred, 17 were

promoted and no one demoted and 166 employees were

remained with no change, which is shown under graph7.2.

70
 Table no. 8 shows the number of employees having life

insurance policy under Bajaj Allianz. Under this graph number

of employees not having policy is higher than those whose are

having.

And the graph no.9.2 shows employees having different

policies under Bajaj Allianz. Under this graph highest number

of employees interested to have policy under term plan with

return of premium.

Thus, it is clear to determine the efficiency of Shimoga

Satellite branch in personnel department is not so poor and not

yet too good, before the challenging world of competition.

71
 CHAPTER-6

SUMMARY OF FINDINGS

GENERAL OBJECTIVES OF THE SURVEY

SUGGESTION

CONCLUSION

72
 SUMMARY OF FINDINGS

The depth and complete study of the employees attitudes and their

behaviour towards the “Bajaj Allianz life insurance company ”, gives

the full and detailed information about Bajaj insurance company.

For the purpose of conducting the survey, I have prepared

questionnaire and the same copy has submitted to employees to take

their opinion. I have adopted the test method survey to collect

information I have surveyed nearly 30 employees to take opinion. The

survey has been conducted of different topics they are: Education,

Annual Income and different Age Groups etc.,

OBJECTIVES OF THE SURVEY:

1. To know the general opinion of the employees with regards to

Bajaj Allianz life insurance company.

2. To know whether the survey rendered by the firms improving in

recent year.

3. To know the good relationship with employers and employees.

4. To know the effective of the scurvies provided by the customers.

73
5. To know cooperation of employees through motivation, grievance

handling etc.,

SUGGESTONS

When there are a lot of demerits at the branch, some

suggestions are collected to reimburse the drawbacks, they are

as follows.

1. Adequate trainings like management games should be given

to employees.

2. Separate channel should be made for managing the

personnel.

3. Proper steps should be taken for the appraisal of the

employees.

4. If all the branches are computerized the employees would

not be affected.

5. Transfer of employees should be made frequently so as to

increase their efficiency and their working knowledge.

6. The facilities such as rest room, crèches may be established

for employees during working hours.

74
7. Education scholarship of employees’ children may be

provided.

8. Company records must maintain regularly to reducing the

confusions while making balance sheet.

9. Organization must know that reducing organizational stress

is as important as motivating employee.

10.Promotion policy should be in writing and should be

communicative.

11.Wage policy & program should be reviewed and revised

periodically in conformity with changing needs.

12.Required information about working conditions, promotion,

and demotion must be given when needed.

75
CONCLUSION

From the whole survey, it is clear that the services given

by Bajaj Allianz Shimoga Satellite Branch are better when

compared to other insurance companies. Here, human

resources are well utilized and well benefited. The facilities like

transportation, education, health, and group insurance except

crèches and rest room, are given under the branch which

motivates the employees to work hard. The allowances and

perquisites given under the branch are more beneficial for the

employees. Though it has all benefits, it yet has to improve its

personnel for well doing the job. If it utilizes the manpower in

right way and give personnel appraisal, it will get more

reputation in later years.

76
 ANNEXURES

o QUESTIONNAIRE

o BIBLIOGRAPHY

77
 QUESTIONAIRE

Dear Sir/Madam,

I am a student of MBA, IV semester, studying at

Directorate of Distance Education, Kuvempu University, Jnana

Sahyadri, Shankaraghatta. I have undertaken a project Report

of “Human Resource Management in Bajaj Allianz Life

Insurance”, with special reference to Shimoga Branch, M.G.

Palace, Gopi circle, Shimoga. Kindly fill up my questionnaire

and give valuable suggestions for the study. The data that is

given by you will be used only for academic purpose.

Faithfully

Nagaraj Padiyar

1. Name :

2. Address _________________________________

3. Sex: Male ( ) Female ( )

4. Age

78
 a) 18-20 b) 25-30

c) 30-40 d) 40 and above

5. Educational qualification

a) Up to PUC ( ) b) Graduate ( )

c) Post Graduate ( ) d) M.B.A holder ( )

6. Level of working
a) Administrative Assistant ( )
b) Development Officer ( )
c) Business Executive ( )
d) Manager ( )

7. Monthly Salary
Below 10,000 ( ) Below 15,000 ( )
Below 20,000 ( ) Bellow 25,000 ( )
Above 25,000 ( )
8. Recruited through
Recruiting Agencies ( )
Employment Exchange ( )
Casual callers ( )
Recommendations ( )
Press Advertisement ( )

9. Have you been?

79
 Transferred ( )
Promoted ( )
Demoted ( )
10.Benefits receiving

Provident Fund (P.F) ( )

Club Membership ( )
Paid Holidays ( )
Furnished House ( )
Stock option schemes ( )
11.Relationship between employee & employer satisfaction

Satisfaction ( )

Not satisfactory ( )

12.Training given through

Lectures ( )

Conference ( )

Audio visuals ( )

Management games ( )

13.Training given

80
 Good ( )

Poor ( )

Too Good ( )

14.Are you policyholder of Bajaj Allianz Life Insurance?

Yes ( ) No ( )

15.If yes, which type of plan you have

Unit Gain Plan ( )

Pure Term Plan ( )

Term Plan with Return of Premium ( )

Whole Life plan ( )

16.What are the plus points you see at your Office

___________________________________
17.Suggestion to improve the qualities of your office
____________________________________
Thanking you for your kind co-operation
Date: Signature
Place:

81
 BIBLIOGRAPHY

BOOKS Author Publishers

Human Resource Dr. C.B. Gupta Sultan Chand & Sons

Management
Human Resource & K. Aswathappa Tata MC Graw Hill
Personnel Management Publishing Co. Ltd.
Principles of Insurance M.N.Mishra Himalaya Publishing
Law House, Bombay

JOURNALS:

Catalogues & advertisement copies of Bajaj Allianz Life

Insurance.
www.bajaj.co.in
www.bajajallianzlife.co.in
www.bajajallianz.co.in

82
 INDEX

ASPA American Society for Personnel Administration

BIFR Board for Industrial& Financial Reconstruction

Co. Company

FY Financial Year

HRD Human Resource Department

IIPM Indian Institute of Labor Management

IRDA Insurance Regulatory& Development Authority

Ltd. Limited

NILM National Institute of Labor Management

NIPM National Institute for Personnel Administration

PF Provident Fund

PM Personnel Management

QWL Quality of Work Control

SHRM Society for Human Resources management

83