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8/8/2019 Recruitment and Selection of Financial Consultants
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Research ObjectivesResearch ObjectivesPrimary ObjectivesPrimary Objectives::
TToo havehave aa completecomplete understandingunderstanding of of RecruitmentRecruitment &&
SelectionSelection process process of of FC¶sFC¶s inin HDFCHDFC StandardStandard LifeLife..
ToTo studystudy aboutabout thethe awarenessawareness amongamong thethe people people for for
joining joining asas agentagent inin LifeLife InsuranceInsurance CompaniesCompanies..
ToTo knowknow thethe rolerole && scopescope of of FinancialFinancial ConsultantConsultant inin
LifeLife InsuranceInsurance CompaniesCompanies..
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Secondary Objectives:Secondary Objectives:--
To do SWOT analysis of HDFC Standard Life.To do SWOT analysis of HDFC Standard Life.
To know about different products provides byTo know about different products provides by
HDFC Standard Life.HDFC Standard Life.
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Company StudyCompany Study
HDFC Standard Life was the first private LifeHDFC Standard Life was the first private Life
Insurance to get license from IRDA in October 2000.Insurance to get license from IRDA in October 2000.
It is a joint venture between HDFC limited andIt is a joint venture between HDFC limited and
Standard life, UK.Standard life, UK.
It has covered 8,12,811 life so far.It has covered 8,12,811 life so far.
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HDFC Standard Life InsuranceHDFC Standard Life Insurance
((Joint VentureJoint Venture))
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Sources of Recruitment inSources of Recruitment in
HDFCHDFC--SLICSLIC AdvertisementsAdvertisements
Timings and venue for walk Timings and venue for walk--inin--
interview.interview.
EE--mail address of the company.mail address of the company.
Employee Referral ProgrammeEmployee Referral Programme (Parichay)(Parichay)
Provide a route to employees to refer professionals.Provide a route to employees to refer professionals.
Consultant CompaniesConsultant Companies
Perform recruiting function on behalf of client companies.Perform recruiting function on behalf of client companies.
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Research MethodologyResearch Methodology
SAMPLE SIZE 150SAMPLE SIZE 150
SAMPLING TYPE EXPLORATORYSAMPLING TYPE EXPLORATORY
METHOD USED QUESTIONNAIREMETHOD USED QUESTIONNAIRE
PRIMARY SOURCEPRIMARY SOURCE
Direct personal interview and an objectively framedDirect personal interview and an objectively framedquestionnaire.questionnaire.
SECONDARY SOURCESECONDARY SOURCE
Data is taken from some books, internet, company website andData is taken from some books, internet, company website andorganization website.organization website.
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Data AnalysisData Analysis
Q.1Q.1 Have you heard about HDFCHave you heard about HDFC--SLIC?SLIC?
90%
10%
Yes
NO
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Q.2 Awareness about the career inQ.2 Awareness about the career in
Insurance Sector Insurance Sector ± ±
Percentage of Respondents
30%
70%
Yes
No
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Q.3:Q.3: Do you know about the working of Do you know about the working of
Financial Consultant?Financial Consultant?
38%
62%
YES
NO
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Q.Q.44: Do you have an idea about financial: Do you have an idea about financial
market?market?
67%
33%
YES
NO
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Q.5: Do you have any sales experience?Q.5: Do you have any sales experience?
If yes, how many years ?If yes, how many years ?
20%
80%
YES
NO
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Q.6:Q.6: Do you have experience in sellingDo you have experience in selling
financial product? e.g. credit card,financial product? e.g. credit card, insuranceinsurance
etc? If yes how many years?etc? If yes how many years?
11%
89%
YES
NO
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Q.7:Q.7: What do you think, in today¶s scenarioWhat do you think, in today¶s scenario
life insurance is need, want or demand?life insurance is need, want or demand?
46%
17%
37%NEED
WANT
DEMAND
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Q.Q.88: In which of the financial market you: In which of the financial market you
have invested your money?have invested your money?
14%
15%
23%
48%
SHARE
MUTUAL FUND
INSURANCE
OTHER
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Q.9: Are you interested in getting opportunityQ.9: Are you interested in getting opportunity of of
earning some additional income as being financialearning some additional income as being financialconsultant of ³HDFCconsultant of ³HDFC--SLIC´SLIC´ and why?and why?
20%
80%
YES
NO
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RECOMMENDATION &RECOMMENDATION &
SUGGESTIONSSUGGESTIONS Provide and adopt such policies from which customers getProvide and adopt such policies from which customers get
maximum benefits.maximum benefits.
Should use the FMShould use the FM--radio station as the medium of radio station as the medium of
spreading awareness.spreading awareness.
Changes in the policies should be communicated to theChanges in the policies should be communicated to the
customers at the earliest.customers at the earliest.
The fear in the customer mind should be removed byThe fear in the customer mind should be removed by
company.company.
Increase the distribution network.Increase the distribution network.
Provide lower premium policies so that we could targetProvide lower premium policies so that we could target
middle class people and generate good cash flow formiddle class people and generate good cash flow for
further growth.further growth.
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CONCLUSIONCONCLUSION
Life insurance service sector is highly growing finance sector.Life insurance service sector is highly growing finance sector.
Private Players in order to encase maximum number of Private Players in order to encase maximum number of customers are introducing new and innovative scheme for their customers are introducing new and innovative scheme for their FC.FC.
Customers like to invest in other investment zones due to theCustomers like to invest in other investment zones due to thehectic rules and regulations associated with, entering into ahectic rules and regulations associated with, entering into a
contract with insurance companies.contract with insurance companies.
HDFC Standard Life is renowned for transparency and highHDFC Standard Life is renowned for transparency and highcorporate governance standards.corporate governance standards.
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