Bajaj Allianz Hr Overview Essay Example For Students

Bajaj Allianz Hr Overview Essay | | | | | | | | | | | | | Bajaj Allianz Life Insurance Company HR Overview Introduction: Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE. Both Bajaj Allianz enjoy a reputation of expertise, stability and strength. Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May, 2001 to conduct General Insurance business (including Health Insurance business) in Pune, India. The Company has an authorized and paid up capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE. Human Resource Management Human Resource Management maybe defined as an art of procuring, developing and maintaining competent workforce to achieve the goals of an organization in an effective and efficient manner. Roopa A. Kochhar Head of Human Resources Bajaj Allianz General Insurance Says† in Bajaj Allianz we are creating a culture where ordinary people come together To make a great team† The Allianz Human Resource Values: The Allianz human resource Values introduced in 2003 helped the organization to use these values as a guideline and set more precise targets with regard to human resource development. These values were developed to link business targets and desired leadership behaviors, to support and foster cultural to improvements and organizational change, to accelerate the development of a high performance culture, raise the employee performance in the whole Allianz group. The responsibilities of human resource department have increased many folds. Nevertheless, with a structured organization and dedicated personnel, Bajaj Allianz has exceeded the expectations. HR Operations at Allianz: The three sub departments of Human resources operations are . The Human resources department 2. The Employee relation hub 3. Business HR department. Each of these departments is interdependent having independent roles. HR Operation Structure: Roles and Responsibilities in Business HR -Internship period The roles handled by me during the internship period i. e. , 5april-25june are †¢ Sourcing †¢ Recruitment Process †¢ Exit Interview †¢ Elearning †¢ PF grievances †¢ Full and Final settlement Process Sourcing: Sourcing, a primary step played in the HR department by the Internship Trainee. Sourcing of potential candidates can be done in various methods like Web Portals: Bajaj Allianz has tie up with the web portal www. Nakurai. com to source the candidate from their website. Once the company is registered with Naukari. com, they have allocated a specific Employer’s Zone where the HR Trainee is accessible to download the resume from the website . The payment for downloading the resumes is Rs. 2000 per month and every month the company has to reset the password in order to avoid the usage of the external user. As per the Branch recruitment candidates can be recruited. Once the resumes are downloaded by Trainee , the next step would be calling up the candidate and inform them about the vacancies available in the Bajaj Allianz Life Insurance . If a candidate is interested he would be put up in a interested list and call for the interview process. 65% of candidates are sourced through the web portal and sourcing through the web portal proves to be a worthy effort for recruitment Walk-in: Bajaj Allianz provides opportunity for the candidates who walk-in into the HR Department and are looking to work in the Sales field. The responsibilities as a intern is to review the resume and find out the candidate general information , experience and his communication skills and then forward to the HR Executive . If the HR Interviewer feels the candidate is ready to take up the challenges and work in the sales field then he would provided opportunity to work in the Bajaj Allianz life Insurance Recruitment Process Elizabeth Cady Stanton EssayIn Bajaj Allianz Life insurance , the PF segment has been outsourced to another consultant , so normal process time would be 4 -5 months . Full and Final Settlement (FNF Settlement) Full and Final settlement includes when a employee resigns from the company he has to complete the exit Process in a proper way . A permanent employee has to provide one month notice period, if the notice period is to be waivered then the employee has to pay three month basic pay in favor of Bajaj Allianz Life Insurance Payable at Pune. For temporary employee the notice period is one week, if the notice period is to be waivered the employee has to pay one month basic pay towards the company. As a trainee the role played by me is to check the Exit Report and verify whether the details written by the candidate are in order , update the same in the FNF MIS and forward the same to HO. PROCESS FLOW OF FF SETTLEMENT Learning from Bajaj Allianz Bajaj Allianz, a leading insurance provider in the Private sector has large number of workforce in the organization. Generally Insurance sector is a running around to convince the people to buy the insurance products, if he is not able to achieve the targets within the specified time he will be terminated and many employees resign as a result of work pressure, therefore retaining a employee is a very tough job, so when a employee resigns a job, HR department has to find a replacement immediately †¢ Sourcing, a primary work in the HR Department helped me to understand the nuvansances of sourcing a candidate in the insurance sector. It also helped to me understand the expectations of a candidate who is ready to work in the insurance sector. Recruitment process provided me a clear picture of how the actual Recruitment process work in the insurance sector , right from the interview followed by Background verification to generation of appointment and Employment code . Each and every process are organized in a systematic manner which helps me to understand the process in a precise way. †¢ Exit interview is a wonderful learning experience, it helped me to interact with large number of workforce and able to understand their working conditions in the Bajaj Allianz and also able to get their opinion about the company . E-learning, a soft skill process developed by Bajaj Allianz for the employee’s help me to understand the techniques used by them to approach and handle customers and also I was able to act as intermediatory between the Employee’s and the Company. †¢ P. F Grievance- helped me to learn various section and also the procedure which are required when applying for P. F †¢ Full Final Settlement, a process which helped me to learn about the settlement process that works in Bajaj Allianz. Updation of MIS Rejection/Retention Prashanthini Jayaprakash Phase 1-Internship Report Period: 5th April -25th July