“A Study on Recruitment for recruiting Financial Advisors” CONTENTS S.NO
Titles
Page No
1.
Chapter – I - Executive summary - Introduction - Literature review - Purpose of the study - Statement of the problem - Objectives of the study
3 to 5 6 to 21 22 to 28 29 to 29 29 to 29 30 to 30
Chapter – II - Organization Profile - Organization Chart - Sampling - Data Collection Methods - Measuring Tools
32 to 43 44 to 44 45 to 45 45 to 45 45 to 45
2.
3.
4.
Chapter – III - Results & Discussions with Graphs & Charts - Summary, Conclusion & a Proposed Action Plan with Resource Requirements & Projected Benefits to the Organization
Chapter – IV - Appendix -Questionnaire - Bibliography - Weekly Progress Report
47 to 55 56 to 61
63 to 66 67 to 67 68 to 76
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“A Study on Recruitment for recruiting Financial Advisors”
CONTENTS - Executive Summary - Introduction - Literature review - Purpose of the study - Objectives
EXECUTIVE
SUMMARY
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“A Study on Recruitment for recruiting Financial Advisors” ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). ICICI Prudential in order to expand its market and to cover the whole of insurance market keeps on recruiting Financial Advisors. In this project I recommended few effective methods of recruitment which I implemented them as a Recruitment officer in ICICI Prudential Life Insurance Company Ltd at the time of my summer in plant training. This project emphasizes on, “Recruitment for recruiting Financial Advisors at ICICI Prudential Belgaum”.
Objectives of the study: Main Objectives “To develop effective and practical methods of recruitment for recruiting Financial Advisors”
Sub Objectives: To evaluate the effectiveness of different methods practically conducted. To find out the most potential segment, based on age, education, and occupation level, for financial Advisors job. To know the urge of why people go in for this job. To find out the most important factors considered by the candidates while joining the Advisors job.
Limitations:
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“A Study on Recruitment for recruiting Financial Advisors� Not single work is exception to the limitation every work every work has got its limitations. It is assumed that the sample selected represents entire population.
Research Methodology: Data Source
: Primary Data (Field Survey) Secondary data-Internet
Area of Research
: Belgaum city
Research approach
: Survey method
Research Instrument
: Questionnaire
Sample Plan
: Personal Interview
Sample Unit
: Newly recruited Advisors
Sampling Method
: Convenience sampling
Sample size
: 50 Financial Advisors newly recruited
Observations: o Out of 50 candidates, 36% of the candidates were recruited through Telecalling followed by 30% through Circulation of pamphlets through newspapers and 14% through Beauty parlour visit. o From the survey made on 50 candidates who were newly recruited, 66% of the candidates are male and 34% are female. o A survey on a sample of 50 candidates recruited showed that the most potential segment age wise is 18-25 with 60%, followed by 38% lying in between the age category of 25-35. o On the basis of education I found that the most potential segment education wise was graduation with 50% and post graduation with 26%. Babasabpatilfreepptmba.com -4-
“A Study on Recruitment for recruiting Financial Advisors� o Findings also showed that 48% of the candidates which were recruited were salaried followed by 20% others which consist of all freshers. o It was also found that 38% of the candidates which were recruited joined this job to build their career. o Findings showed that 94% of the candidates opted for online training and 6% of the candidates opted for manual training. o Commission/incentive is the main factor which was consider by all candidates before applying for job followed by growth opportunities as the second highest factor.
Introduction
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“A Study on Recruitment for recruiting Financial Advisors” Success begins with hiring. Getting the right person for the right job at the right time helps us to build a winning team and this starts with effective recruitment. Once the required number and the kind of human resources are determined, the management needs to find the places where required human resources will be available and also find the means of attracting them towards the organization before selecting suitable candidates for jobs. It is becoming very difficult to get the right type of employees these days. Recruitment refers to the process of searching for the prospective candidates and stimulating them to apply for the jobs. It refers to the process of acquiring applicants who are available and qualified to fill positions in the organization. The basic goal of recruitment is to locate, at the least cost, qualified applicants who will remain with the organization. Recruitment is the process during which potential employees are attracted, informed and oriented about the organization and thereby motivated to make themselves available for vacant positions. The three important elements in this definition are Potential suitable employees Recruitment goes further than informing people of a vacancy. It has to attract those that meet the general criteria of the organization as well as the criteria qualified for the vacancy. Motivation During recruitment, a person should be motivated to go further than just take note of the advertisement or information. To be successful, the person should be motivated to take the necessary action that can lead to employment. Recruitment and selection
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“A Study on Recruitment for recruiting Financial Advisors� Because the organization has vacancy, the recruitment originates from the organization. The applicant has to accept the employment before the recruitment process can be seen as successful and complete. It takes careful planning and consideration to recruit successfully. When you fill a vacant or new position you have an opportunity to reflect on the work to be done, the need for change and what new skills might be required in the future. When planning to recruit, we need to consider how we will schedule the various recruitment and selection tasks. You also need to make some important decisions about the position and complete certain tasks before you can get approval to recruit. This process starts when vacancies are available and the management decides to fill them through suitable recruitment procedures. This will be later followed by selection procedure, which is concerned with the selection of best among the interested candidates.
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“A Study on Recruitment for recruiting Financial Advisors” Insurance: Definition and Meaning Functional definition: In the words of R.S.Sharma “Insurance is a Co-operative devices to spread the loss caused by particular risk over a number of persons who were exposed to it and who agree top insure themselves against the risk”
Contractual Definition: According to E.W.Patterson, “Insurance is a contract by which one party, for a consideration called a premium, assures a particular risk of other party ad promises to pay to him or his nominee a certain or ascertainable sum of money on a specified contingency.
According to the U.S Life Office Management Association Inc (LOMA), Life Insurance is defined as follows: Life insurance provides a sum of money if the person who is insured dies whilst the policy is in effect.
Other terms used in relation to insurance and their meaning:
Agent: The authorized representative of the insurer, licensed by the concerned authorities like IRDA to canvass insurance.
Bonus: The yearly share of policy holders profit declared by the company based on its profits which gets added to the policy amount and is payable upon its maturity.
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“A Study on Recruitment for recruiting Financial Advisors�
Claim: The amount entitled to the policy holder or his nominee/assignee under a policy contract in the event of the happening of the contingency insured against.
Insurable Interest: Evidence suggesting financial losses due to the occurrence of the event insured against.
Policy: The evidence of contract between the insurer and the insured. A stamped sealed and signed document issued by the insurer to the insured in proof of insuring his life.
Premium: The amount mentioned in the policy contract to be paid by the insurer periodically to the insure to keep the policy in full force.
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“A Study on Recruitment for recruiting Financial Advisors� There are two kinds of insurance as given below:-
1. Life Insurance: Human lives are insured under life insurance. A Life Insurance is a combination of savings as well as security element. The insured is assured that the insurance company will pay his family the insured amount in the case of premature death. Is he is alive and the policy matures for payment, the savings so made will be helpful in his old age. Only the Life Insurance Corporation of India transacts life insurance business in India.
2. General Insurance: All insurance other than Life Insurance fall under General Insurance. Only the general insurance corporation of India transacts General Insurance business in India. The following are different types of general insurance: o Marine Insurance:The marine insurance is the oldest form of insurance and covers all the marine perils. Due to marine perils, the ship can be damaged or destroyed, cargo can be lost and consequently there can be lost of freight. Therefore, the marine insurance covers the risk to ship, cargo, and freight on the high seas.
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“A Study on Recruitment for recruiting Financial Advisors� o Fire Insurance: The fire insurance covers the risk of fire to property because there is every likelihood of fire spreading in big factories, go-downs, ware housing, house shops and ships. The fire insurance not only covers the risk of fire, but also the consequential losses from such fire. o Liability Insurance:The Liability insurance includes the risk of liability towards third parties which
the insured is required to pay, such as damage to property
belonging or to third person or injury or death of third person or both in case of accident, It also covers the employers liability towards death of or injury to the employees while on duty. o Social Insurance:The social insurance is meant to protect and uplift the weaker section of the society and may be in different forms like pension plans, disability benefits, unemployment benefits, sickness insurance,etc.
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“A Study on Recruitment for recruiting Financial Advisors” Insurance in Indian Financial System In India insurance is in practice since 12th century as per the records. The first life insurance company to operate in India the Oriental Life Insurance company was established in 1818 in Calcutta. However it was a British company. The first Indian Insurance company, the Bombay Mutual Life Assurance Society started its operation in 1871. The Indian Life Insurance company Act was passed in 1928.Subsequently, both of these Acts were merged and the insurance Act 1938 was promulgated. Independent India amended the Insurance Act in 1950 and in 1956, the then fiancé minister of the nation Mr. C D Deshmukh nationalized all insurance companies, 154 Indian Insurance companies and 75 provident societies. Finally the life insurance Corporation was born on 1st September 1956. The story of non-life insurance in India is no different. Though Lloyd’s insurance pioneered the general Insurance way back in 1688, the first non-life Insurance Company to set up shop in India was the Triton Insurance company of Calcutta. In 1907 the first Indian general insurer the Indian Mercantile insurance company started its operations. The New India Assurance Company Limited was incorporated in 1919. After independence the India Reinsurance Corporation was set up in 1956 and in 1957 the office of the controller of the insurance was constituted. In 1968, that tariff advisory committee was set up to regulate the investment of the players and finally in 1972, the non-life insurance business in the country was nationalized and the general insurance company was formed as holding company with four subsidiaries, the National Insurance, Oriental Insurance, United India Insurance and the new India Assurance Company Limited. In the same year the National Insurance Company Limited was amalgamated
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“A Study on Recruitment for recruiting Financial Advisors” with 22 foreign and 11 Indian Insurance companies. Thus over a period of two centuries, the Indian insurance industry has gone through the full circle. From being an open competitive market, it went through nationalization and has been subsequently liberalized again. Keeping in mind the national economic and commercial objective of India the government has set up IRDA on 7th December 1999. Through which the reforms process of the industry got under way.
Insurance in Indian Financial System – Its Importance Insurance industry is one of the corner stone of any economy and financial System. Insurance industry contributes its major part in increasing the saving and the fund collected is utilized in developmental programmes. The Financial sector in our country is in the process of change with the objective o the overall growth of the economy. The insurance sector
as every one knows,
constitutes a very important and vital financial intermediary for the growth of the economy. Insurance has become part and parcel of the financial system because it: •
Reduces the uncertainty of business loses.
•
Increases business efficiency.
•
Identifies key men.
•
Enhances the credit.
•
Takes care of welfare of the society.
•
Protect the wealth of the nation.
•
Helps to attain economic growth.
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“A Study on Recruitment for recruiting Financial Advisors” •
Reduces the inflation level.
It is said “Every rupee invested in insurance contributes thrice the amount in the economic development.
The Life Insurance: Life Insurance is one of the most common forms of insurance. It has acquired top position all over the world. “Life insurance is a contract fare by the insured promised to pay a uniform rate premium of fixed intervals of time against which the insurer agrees to pay a fixed amount on the happening of the event which may be the death of the insured on the expiry of certain number of years”.
The advantages of Life Insurance •
Life insurance is brought not because someone is going to die, but because someone is going to live.
•
Life insurance means peace of mind.
•
Life insurance promises payment of the full sum assured from the moment the first premium is paid.
•
Life insurance encourages regular savings and guards against extravagances.
•
In most cases life insurance possesses a cash value after the first three years.
•
Life insurance removes the worry of looking after your savings. Experts safely and profitably invest your money on your behalf by experts.
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“A Study on Recruitment for recruiting Financial Advisors” •
Life insurance guarantees payment in cash and is backed by the Government of India.
•
Life insurance is a tax saving product.
•
Life insurance is free from loss, from theft, fire, misplacement etc.
•
A life insurance contract is one sided, i.e., always in favour of the insured and his family. One can withdraw from the contract anytime, but the company’s cannot.
Life insurance replaces uncertainty with certainty. It provide a complete, balanced and perfect hedge against economic threats, which confront all person, the danger of living too long or the danger of dying soon.
How Insurance Works Suppose there are 1000 person all aged 35 years and healthy lives. They are insured for one year against the risk of death. Each person is insured for Rs. 50,000. if the past experience indicates the 4 out of 1000 people die during the year, expected amount claimed to be paid to the family of 4 persons would come to Rs. 2,00,000. the contribution to be paid by the each of the 1000 will come to Rs.200 per year. Thus, all the 1000 persons share loss caused to the 4 unfortunate families. 996 persons who survived till 1 year have not lost any thing as they have secured peace of mind and a feeling of security for their family. While insurance cannot prevent accident or premature death, it can help, protect the family of the deceased against the loss of income caused by the of the main breadwinner. In return for specified payments, insurance will provide protection against the insurance of an uncertain event such as premature death.
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“A Study on Recruitment for recruiting Financial Advisors” The business of insurance company called insurer is to bring together persons who are exposed to similar risk, collect contribution (premium) from them on sum equitable basis and pay the losses (claim) to the unfortunate few who suffer.
The working of an agency The important activities in a life insurance company are:•
Procuring proposal from prospective buyers of Life Insurance.
•
Insurance. The underwriting department would do this.
•
Issuing a policy document.
•
Keeping track of the performance of the insurance contract like timely payment of renewal premium.
•
Attending to the various requirements that may arise during the duration of the contract.
•
Actuarial department deciding on the premiums to be charged by the insurer.
•
Investing the premiums collected and maximizing the investment return (Interest on Investment).
NEED FOR THE INSURANCE:
Unlike other avenues of savings where the amount saved with interest is payable only on maturity, insurance plans provide for payment of the total sum assured along with a bonus, if any, on any eventuality even before the maturity of the policy. And another advantage of insurance is that an insurer can avail loans against the security of the policy Babasabpatilfreepptmba.com - 16 -
“A Study on Recruitment for recruiting Financial Advisors” from the insurance company. Even banks and other financial institutions advances loans with insurance policies as a collateral security.
To provide for one’s family and perhaps; others in the event of death, especially premature death. Originally, policies were to provide for short period of time, covering temporary risky situations, such as sea voyages. As lie insurance became more established, it was realized what a useful tool it was for a number of situation, including:
•
Temporary needs/threats:The original purpose of life insurance remains an important element, namely providing for replacement of income on death etc.
•
Regular savings:Providing for one’s family and oneself, as a medium o long term exercise
(through a series of regular payment of premiums). This has become more relevant in recent times as people seek financial independence from their family.
•
Investment; It is the insurance that builds up the savings of the society and thus safeguard the economy from the ravages of inflation. Unlike regular saving products, investment products are traditionally lump sum investments, where the individual makes one time payment.
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“A Study on Recruitment for recruiting Financial Advisors” •
Retirement: Provisions for one’s own later years become increasingly necessary, especially in a changing cultural and social environment. One can buy a suitable insurance policy, which will provide periodical payments in one’s old age.
Why should you take insurance Insurance is desired to safeguard oneself and ones family against possible losses on account of risk and perils. It provides financial compensation for the losses suffered due to the happening of unforeseen events. By taking life insurance a person can have peace of mind and need not worry about the financial consequences in case of any untimely death. Along with the growth of overall population in the country, crossing the benchmark of hundred crore, there gas been a significant awareness for the need for insurance in the other as well as rural segments and even among the lower middle class and illiterate class of the population. We in India have around 30 crore middle class educated and enlightened people who have not realized that insurance is as necessary as the other basic necessities of life such as food, shelter, clothing.
Functioning of the IRDA •
To exercise all the powers and functions of controller of insurance.
•
Protection of the interest of the policy holders.
•
To issue, renew, modify, withdraw or suspend certificate of registration.
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“A Study on Recruitment for recruiting Financial Advisors” •
To specify requisite qualification and training for insurance intermediaries and agents.
•
To promote and regulate professional organizations connected with insurance.
•
To conduct inspection/investigation etc.
•
To prescribe method of insurance accounting.
•
To regulate investment of funds and margins of solvency.
•
To adjudicate upon dispute.
•
To conduct inspection and audit of insurers intermediaries and other organization concerned with insurance.
With a mission of : “ protect the interest of the policy holders to regulate promote and ensure orderly growth of the insurance industry and for matters connected there with or incidental thereto”.
IRDA Enablers In the new market set up, the IRDA’s role that of an enabler. The new insurers will conduct insurance business in India according to the healthy norms prescribed the IRDA. Regulations for all insurance intermediaries will specify sales-norms. Guidelines for the code of conduct for the surveyors and loss assessors will help all concerned. Efficiency will be promoted in the conduct of insurance business. Professional organizations connected with insurance business will regulated. The role of IRDA, besides regulating the market, it also intents to develop it. The IRDA has the task to promote fair competition in hither to monopolistic insurance market. In such a fast develop scenario were the prospected appears to be brighter both for insurers and the customers Babasabpatilfreepptmba.com - 19 -
“A Study on Recruitment for recruiting Financial Advisors”
Insurance Market in India The term “insurance market” is used to denote the means available for the placing of insurance and the various organizations that are willing to accept risks. It comprises of the demand side i.e., the buyers and the supply side i.e. sellers and the intermediaries. The rational behind the opening up to the sector was to five individual and corporate insurance consumers a competitive environment that can deliver products and service in tune to their requirements. At the same time and open insurance market will enable capital formation. Reducing the need for India to seek external capital to support its infrastructure of development program. The industry is believed to benefit from any increased private participation especially in terms of technology from other global players as these players enter into joint ventures with India counterparts. The partnership between Indian and foreign firms will also enable the market to grow beyond the currents rates and will offer wider choice for the consumer through the introduction of new products, service and price option. New players are aggressive
in their marketing
campaigns and the challenging LIC, virtually in all aspects.
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“A Study on Recruitment for recruiting Financial Advisors�
Total players registered under IRDA Life Insurers: S.No 1 2 3 4 5 6 7 8 9 10
Registration No 101 104 105 107 109 110 111 114 116 117
Date of Registration 23.10.2000 15.11.2000 24.11.2000 10.01.2001 31.01.2001 12.02.2001 30.03.2001 02.08.2001 03.08.2001 06.08.2001
Name of the Company HDFC Standard Life Insurance Co Ltd. Max New York Life Insurance Co Ltd. ICICI Prudential Life Insurance Co Ltd. Om Kotak Mahindra Life Insurance Co Ltd. Birla Sun Life Insurance Co Ltd. TATA AIG Life Insurance Co Ltd. SBI Life Insurance Co Ltd. ING VYSYA Life Insurance Co Pvt. Ltd. Allianz Bajaj Life Insurance Co Pvt. Ltd. Met Life India Insurance Co Pvt. Ltd.
Literature review Introduction to Recruitment: Recruitment and selection is the process of identifying the need for a job, defining the requirements of the position and the job holder, advertising the position and choosing the
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“A Study on Recruitment for recruiting Financial Advisors” most appropriate person for the job. Retention means ensuring that once the best person has been recruited, they stay with the business and are not “poached” by rival companies. Undertaking this process is one of the main objectives of management. Indeed, the success of any business depends to a large extent on the quality of its staff. Recruiting employees with the correct skills can add value to a business and recruiting workers at a wage or salary that the business can afford, will reduce costs. Employees should therefore be carefully selected, managed and retained, just like any other resource. Recruitment methods A manager can recruit in two different ways: Internal recruitment is when the business looks to fill the vacancy from within its existing workforce. External recruitment is when the business looks to fill the vacancy from any suitable applicant outside the business.
Internal Recruitment Advantages
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“A Study on Recruitment for recruiting Financial Advisors” 1. Cheaper and quicker to recruit 2. People will be already familiar with the business and how it operates. 3. It provides opportunity for promotion within the business – and it will act as a motivating factor. Disadvantages: 1. limits the number of potential applicants. 2. no new ideas can be introduced from outside the business. 3. it may cause resentment amongst the candidates not appointed. External recruitment: Advantages: 1. Business already already knows the strengths and weakness of candidates. 2. Outside people bring in new ideas. 3. Larger pool of workers from which we can find the best candidates. 4. People have a wider range of experience. Disadvantages: 1. Creates another vacancy which needs to be filled. 2. longer process 3. More expensive process due to advertisements and interviews required. 4. Selection process may not be effective enough to reveal the best candidate.
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“A Study on Recruitment for recruiting Financial Advisors” The four most popular ways of recruiting externally are: Job centers - These are paid for by the government and are responsible for helping the unemployed find jobs or get training. They also provide a service for businesses needing to advertise a vacancy and are generally free to use. Job advertisements - Advertisements are the most common form of external recruitment. They can be found in many places (local and national newspapers, notice boards, recruitment fairs) and should include some important information relating to the job (job title, pay package, location, job description, how to apply-either by CV or application form). Where a business chooses to advertise will depend on the cost of advertising and the coverage needed (i.e. how far away people will consider applying for the job Recruitment agency - Provides employers with details of suitable candidates for a vacancy and can sometimes be referred to as ‘head-hunters’. They work for a fee and often specialize in particular employment areas e.g. nursing, financial services, teacher recruitment Personal recommendation - Often referred to as ‘word of mouth’ and can be a recommendation from a colleague at work. A full assessment of the candidate is still needed however but potentially it saves on advertising cost.
Why to Recruit
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“A Study on Recruitment for recruiting Financial Advisors” There are a number of possible reasons as to why a business may have to recruit more employees: • • • • • • • •
Business is expanding due to: - Increasing sales of existing products - Developing new products - Entering new markets Existing employees leaving to work with competitors or other local employers Existing employees leaving due to factors such as retirement, sick leave, maternity leave Business needs employees with new skills Business is relocating – and not all the existing workforce wants to move to the new location
In each of these circumstances a business will normally carry out Workforce Planning to find out how many workers and what types of workers are required. The workforce plan will establish what vacancies exist and managers then need to draw up a job description and job specification for each post. Job description: A job description is a detailed explanation of the roles and responsibilities of the post advertised. Most applicants will ask for this before applying for the job. It refers to the post available rather than the person. Job specification: A job specification is drawn up by the business and sets out the kind of qualifications, skills, experience and personal attributes a successful candidate should possess. It is a vital tool in assessing the suitability of job applicants and refers to the person rather than the post.
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“A Study on Recruitment for recruiting Financial Advisors” These documents are an important part of the recruitment and selection process and provide the basis as to where the job may be advertised and whether an applicant is suitable for the post. They also help provide a framework for questions to be asked at an interview.
Methods of recruitment developed by me: •
Circulation of pamphlets through newspapers.
•
Apartment visits.
•
Beauty parlour visit.
•
Joggers Park.
•
Telecalling.
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“A Study on Recruitment for recruiting Financial Advisors” •
References.
•
Circulation of pamphlets through newspapers: This method is developed with an intention to recruit a wide range of people which will cover every category of people. Under this method I took the “Parivartan” pamphlets from the company and put a seal of my own, which displayed my name and contact number. I then circulated these pamphlets in few areas of Belgaum city by hiring a newspaper agent. This method had a wide coverage in terms of geographical area because it could get the highest recruits.
•
Apartment visit: This method was developed with an intention to tap the housewives and also because we could get to approach many houses at a time. And apartments will at the least consist of 10 to 15 flats. It was conducted by visiting a multi-storied apartments and speaking to them with regard to the job.
•
Beauty parlour visit: This method mainly concentrated on recruiting young ladies and girls, and through this method I could recruit candidates by visiting Beauty parlour. This method can be recommended as we come across many people at time in one place.
•
Joggers Park: This method is developed to tap all age group people who gather in morning times. This would be a better way to convince people when they are in a relaxed state of mind.
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“A Study on Recruitment for recruiting Financial Advisors” •
Telecalling: This method of recruitment is usually carried out by all the organization because it is one of the easiest ways to recruit candidates at the convenience of both the parties.
•
Reference: References could referred to as ‘word of mouth’ and can be a recommendation from a colleague at work or a friend or a relative.
Eligibility criteria o The candidates interested in applying for the job should be at least 12th passed. o They should be 18 years or older. If the candidate is eligible then after applying for the job he needs to attend a IRDA training of 18 days if it is manual training or he should take 100 hours of online training. Once the IRDA training is over, then he can attend the refreshers course of 2-3 days. After the refreshers course is completed he is asked to attend the IRDA exam. If passed he gets the license or else he needs to attend the exam once again paying a DD of Rs.200.
Purpose of the study The main purpose of this study is to find some creative and innovative methods of recruitment for recruiting Financial Advisors at ICICI Prudential Life Insurance Co’ Ltd. Which will help the company to get the required kind and the number of candidates for Advisors job who will place their insurance products and give a hand in doing their business successfully. Babasabpatilfreepptmba.com - 28 -
“A Study on Recruitment for recruiting Financial Advisors”
Scope of the Study The scope of my study is limited to the Financial Advisors recruited by me and my sample size is 50 newly recruited Advisors.
Statement of the problem Management Problem In spite of lot many efforts ICICI Prudential is unable to get the requisite Candidates for Financial Advisors. Research Problem To develop effective and Practical methods of Recruitment for recruiting Financial Advisors at ICICI Prudential. Hence the statement of problem is “A Study on Recruitment for recruiting Financial Advisors at ICICI Prudential Life Insurance Co. Ltd
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“A Study on Recruitment for recruiting Financial Advisors”
Objectives of the study:
Main Objectives “To develop effective and practical methods of recruitment for recruiting Financial Advisors”
Sub Objectives: To evaluate the effectiveness of different methods practically conducted. To find out the most potential segment, based on age, education, and occupation level, for financial Advisors job. To know the urge of why people go in for this job. To find out the most important factors considered by the candidates while joining the Advisors job.
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“A Study on Recruitment for recruiting Financial Advisors�
CONTENTS - Organization Profile - Organization Chart - Sampling - Date Collection Methods - Measuring Tolls
Company Profile Babasabpatilfreepptmba.com - 31 -
“A Study on Recruitment for recruiting Financial Advisors” ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). Vision: To make ICICI Prudential the dominant Life and Pensions player built on trust by world-class people and service. This we hope to achieve by: Understanding the needs of customers and offering them superior products and service. Leveraging technology to service customers quickly, efficiently and conveniently Developing and implementing superior risk management and investment strategies to offer sustainable and stable returns to our policyholders Providing an enabling environment to foster growth and learning for our employees And above all, building transparency in all our dealings. The success of the company will be founded in its unflinching commitment to 5 core values -- Integrity, Customer First, Boundary less, Ownership and Passion. Each of the values describes what the company stands for, the qualities of our people and the way we work. We do believe that we are on the threshold of an exciting new opportunity, where we can play a significant role in redefining and reshaping the sector. Given the quality of our parentage and the commitment of our team, there are no limits to our growth.
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“A Study on Recruitment for recruiting Financial Advisors� ICICI
Bank
ICICI Bank (NYSE:IBN) is India’s second largest bank and largest private sector bank with over 50 years of financial experience and with assets of Rs. 1812.27 billion as on 30th June, 2005. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank is a leading player in the retail banking market and has over 13 million retail customer accounts. The Bank has a network of over 570 branches and extension counters, and 2,000 ATMs. Prudential
plc
Established in London in 1848, Prudential plc, through its businesses in the UK and Europe, the US and Asia, provides retail financial services products and services to more than 16 million customers, policyholder and unit holders worldwide. As of June 30, 2004, the company had over US$300 billion in funds under management. Prudential has brought to market an integrated range of financial services products that now includes life assurance, pensions, mutual funds, banking, investment management and general insurance. In Asia, Prudential is the leading European life insurance company with a vast network of 24 life and mutual fund operations in twelve countries - China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. Board of Directors The ICICI Prudential Life Insurance Company Limited Board comprises reputed people from the finance industry both from India and abroad.
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“A Study on Recruitment for recruiting Financial Advisors” Mr. K.V. Kamath, Chairman Mr. Mark Norbom Mrs. Lalita D. Gupte Mrs. Kalpana Morparia Mrs. Chanda Kochhar Mr. HT Phong Mr. M.P. Modi Mr. R Narayanan Mr. Keki Dadiseth Ms. Shikha Sharma, Managing Director Mr. N.S. Kannan, Executive Director Management Team: Ms. Shikha Sharma, Managing Director & CEO Mr. N.S. Kannan, Executive Director Mr. V. Rajagopalan, Chief - Actuary Mr. Sandeep Batra, Chief Financial Officer & Company Secretary Ms. Anita Pai, Chief - Customer Service and Technology Mr. Puneet Nanda, Chief - Investments
ICICI Prudential’s other recent achievements include: First life insurer in India to receive a National Insurer Financial Strength rating of AAA (Ind) by Fitch Ratings
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“A Study on Recruitment for recruiting Financial Advisors� Rs. 7,000 crore funds under management (FUM) ? largest for any private sector life insurance company Prudence Customer Centricity Award for the second year in a row - Prudential Corporation Asia ICICI Prudential continuously researches to understand the emerging needs of its consumer base. The company recently launched two health products ? Health Assure and Health Assure Plus. The products are designed to provide the customers a guaranteed financial benefit at the time of a critical illness, over and above the direct medical expenses that are incurred. The policy aims to cover aspects like loss of income during the period of illness and recovery, lodging for a family member, travel and stay, etc. ICICI Prudential was one of the first private life insurance companies to commence operations after the privatization of the sector in 2000. Over the years, it has enhanced its understanding of various saving and investments need of customers and launched a series of flexible products to meet the same, spanning the segments of child plans, retirement solutions, health plans, savings solution as well as pure protection plan. For the period April-December 2005, the company’s retail market share stood at 31.8% amongst all private companies and 11% of the total market.
Fact
Sheet
THE COMPANY Babasabpatilfreepptmba.com - 35 -
“A Study on Recruitment for recruiting Financial Advisors” ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse, and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). ICICI Prudential’s equity base stands at Rs. 1185 crore with ICICI Bank and Prudential plc holding 74% and 26% stake respectively. For the period April- December, 2005, the company garnered Rs 1,430 crore of new business premiums for a total sum assured of Rs 15,170 crore and wrote 497,765 policies. For the past four years, ICICI Prudential has retained its position as the No.1 private life insurer in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life. ICICI Prudential is also the only private life insurer in India to receive a National Insurer Financial Strength rating of AAA (Ind) from Fitch ratings. The AAA rating is the highest credit rating, and is a clear assurance of ICICI Prudential’s ability to meet its obligations to customers at the time of maturity or claims.
DISTRIBUTION:
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“A Study on Recruitment for recruiting Financial Advisors� ICICI Prudential has one of the largest distribution networks amongst private life insurers in India, having commenced operations in over 116 cities and towns in India, stretching from Bhuj in the west to Guwahati in the east, and Amritsar in the north to Trivandrum in the south. The company has 8 banc assurance tie-ups, having agreements with ICICI Bank, Bank of India, Federal Bank, South Indian Bank, Ernakulam Bank, Lord Krishna Bank and some co-operative banks, as well as about 290 corporate agents and brokers. It has also tied up with NGOs, MFIs and corporates for the distribution of rural policies and organizations like Dhan for distribution of Salaam Zindagi, a policy for the socially and economically underprivileged sections of society. ICICI Prudential has recruited and trained more than 65,000 insurance advisors to interface with and advise customers. Further, it leverages its state-of-the-art IT infrastructure to provide superior quality of service to customers.
PROMOTERS
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“A Study on Recruitment for recruiting Financial Advisors� ICICI Bank (NYSE:IBN) is India’s second largest bank and largest private sector bank with assets of Rs. 1892.18 billion as on September 30, 2005. ICICI Bank provides a broad spectrum of financial services to individuals and companies. This includes mortgages, car and personal loans, credit and debit cards, corporate and agricultural finance. The Bank services a growing customer base of more than 14 million customers through a multi-channel access network which includes over 590 branches and extension counters, 2,030 ATMs, call centers and Internet banking (www.icicibank.com). Established in London in 1848, Prudential plc, through its businesses in the UK and Europe, the US and Asia, provides retail financial services products and services to more than 16 million customers, policyholder and unit holders worldwide. As of June 30, 2004, the company had over US$300 billion in funds under management. Prudential has brought to market an integrated range of financial services products that now includes life assurance, pensions, mutual funds, banking, investment management and general insurance. In Asia , Prudential is the leading European life insurance company with a vast network of 24 life and mutual fund operations in twelve countries - China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam.
PRODUCTS Insurance Solutions for Individuals:
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“A Study on Recruitment for recruiting Financial Advisors” ICICI Prudential Life Insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life stage. Its products can be enhanced with up to 5 riders, to create a customized solution for each policyholder. Savings Solutions SecurePlus is a transparent and feature-packed savings plan that offers 3 levels of protection. CashPlus is a transparent, feature-packed savings plan that offers 3 levels of protection as well as liquidity options. Save’n’Protect is a traditional endowment savings plan that offers life protection along with adequate returns. CashBak is an anticipated endowment policy ideal for meeting milestone expenses like a child’s marriage, expenses for a child’s higher education or purchase of an asset. LifeTime & LifeTimeII offer customers the flexibility and control to customize the policy to meet the changing needs at different life stages. Each offer 4 fund options ? Preserver, Protector, Balancer and Maximiser. LifeLink II is a single premium Market Linked Insurance Plan which combines life insurance cover with the opportunity to stay invested in the stock market. Premier Life is a limited premium paying plan that offers customers life insurance cover till the age of 75. InvestShield Life is a Market Linked plan that provides capital guarantee on the invested premiums and declared bonus interest.
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“A Study on Recruitment for recruiting Financial Advisors” InvestShield Cash is a Market Linked plan that provides capital guarantee on the invested premiums and declared bonus interest along with flexible liquidity options. InvestShield Gold is a Market Linked plan that provides capital guarantee on the invested premiums and declared bonus interest along with limited premium payment terms. Protection Solutions LifeGuard is a protection plan, which offers life cover at very low cost. It is available in 3 options ? level term assurance, level term assurance with return of premium and single premium. HomeAssure is a mortgage reducing term assurance plan designed specifically to help customers cover their home loans in a simple and cost-effective manner. Child Plans SmartKid education plans provide guaranteed educational benefits to a child along with life insurance cover for the parent who purchases the policy. The policy is designed to provide money at important milestones in the child’s life. SmartKid plans are also available in unit-linked form ? both single premium and regular premium. Retirement Solutions ForeverLife is a retirement product targeted at individuals in their thirties. SecurePlus Pension is a flexible pension plan that allows one to select between 3 levels of cover. Market-linked retirement products
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“A Study on Recruitment for recruiting Financial Advisors” Lifetime Pension IIis a regular premium market-linked pension plan LifeLink Pension II is a single premium market-linked pension plan. InvestShield Pension is a regular premium pension plan with a capital guarantee on the investible premium and declared bonuses. Golden Years: is a limited premium paying retirement solution that offers tax benefits up to Rs 100,000 u/s 80C, with flexibility in both the accumulation and payout stages. ICICI Prudential also launched “Salaam Zindagi”, a social sector group insurance policy targeted at the economically underprivileged sections of the society. Health Solution Health Assure: Is a regular premium plan which provides l ong term cover against 6 critical illnesses by providing policyholder with financial assistance, irrespective of the actual medical expenses. Health Assure Plus: Is a regular premium plan which provides long term cover against 6 critical illnesses by providing financial assistance, irrespective of actual medical expenses, as well as an equivalent life insurance cover Group Insurance Solutions ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance benefits to their employees. ICICI Pru Group Gratuity Plan: ICICI Pru’s group gratuity plan helps employers fund their statutory gratuity obligation in a scientific manner. The plan can also be customized to structure schemes that can provide benefits beyond the statutory obligations.
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“A Study on Recruitment for recruiting Financial Advisors” ICICI Pru Group Superannuation Plan: ICICI Pru offers a flexible defined contribution superannuation scheme to provide a retirement kitty for each member of the group. Employees have the option of choosing from various annuity options or opting for a partial commutation of the annuity at the time of retirement. ICICI Pru Group Term Plan: ICICI Pru’s flexible group term solution helps provide affordable cover to members of a group. The cover could be uniform or based on designation/rank or a multiple of salary. The benefit under the policy is paid to the beneficiary nominated by the member on his/her death. Flexible Rider Options ICICI Prudential Life offers flexible riders, which can be added to the basic policy at a marginal cost, depending on the specific needs of the customer. Accident & disability benefit: If death occurs as the result of an accident during the term of the policy, the beneficiary receives an additional amount equal to the rider sum assured under the policy. If the death occurs while traveling in an authorized mass transport vehicle, the beneficiary will be entitled to twice the sum assured as additional benefit. Accident Benefit: This rider option pays the sum assured under the rider on death due to accident. Critical Illness Benefit: protects the insured against financial loss in the event of 9 specified critical illnesses. Benefits are payable to the insured for medical expenses prior to death.
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“A Study on Recruitment for recruiting Financial Advisors” Income Benefit: This rider pays the 10% of the sum assured to the nominee every year, till maturity, in the event of the death of the life assured. It is available on SmarKid, SecurePlus and CashPlus Waiver of Premium: In case of total and permanent disability due to an accident, the premiums are waived till maturity. This rider is available with SecurePlus and CashPlus.
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“A Study on Recruitment for recruiting Financial Advisors�
Organization Chart
CEO Babasabpatilfreepptmba.com Regional Manager
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ZM Manager “A Study on Recruitment for recruiting Financial Advisors” BM Manager Sampling: Sample size: 50 Financial Advisors recruited Territorynewly Manager Sampling Method : Convenience sampling Area Manager Survey conducted on the Advisors recruited by me. Area Manager Data Collections Methods: Primary data: Field Survey
Sales Manager
Secondary data: ICICI Prudential records. Sr.Agency Manager : Internet Area of research: Belgaum city Asst. Unit Manager Research approach : Survey method Agency Manager Measuring Tool:Questionnaire (Graph and Charts)
Unit Manager
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“A Study on Recruitment for recruiting Financial Advisors”
CONTENTS - Results & Discussion with Charts & Graphs -
Summary, Conclusion & a Proposed Action Plan with Resource Requirements & Projected Benefits to the Organization
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“A Study on Recruitment for recruiting Financial Advisors”
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“A Study on Recruitment for recruiting Financial Advisors�
Analysis Q-1. Gender Male
Female
33
17
66%
34%
35 30 25 20 gender
15 10 5 0 Male
Female
Interpretation: From the survey made on the candidates who were recruited, it was found that 66% of the candidates are male and 34% are female because male people are the income earners of the family and they find ease in doing field work and can find time besides their present job.
Q - 2. Marital Status Babasabpatilfreepptmba.com - 48 -
“A Study on Recruitment for recruiting Financial Advisors�
Married
Unmarried
6
44
12%
88%
12% Married Unmarried 88%
Interpretation: Majority of the candidates which are recruited are unmarried because these are the people who want to build their career.
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“A Study on Recruitment for recruiting Financial Advisors�
18-25
25-35
35-45
Above 55
30
19
0
1
60%
38%
0
2%
Q-3. Chart showing the most potential segment for Financial Advisor's job (Age wise)
30 25 20 age
15 10 5 0
18 - 25
25 - 35
35 - 45
Above 45
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“A Study on Recruitment for recruiting Financial Advisors”
Interpretation: Majority of candidate’s age fall between 18-25, because they are energetic in nature and have enthusiasm in doing job.
Q-4. Chart showing the most potential segment for Advisors on the bases of education
PUC II
Diploma
Graduation
Post Graduation
8
4
25
13
16%
8%
50%
26%
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“A Study on Recruitment for recruiting Financial Advisors�
13
Post graduation
25
Graduation
4
Diploma
8
PUC II
0
5
10
15
20
25
30
Series1
Interpretation: Majority of the candidates who applied for the Advisors job are graduates followed by post graduates because these are the people who after completion of their degree start hunting for jobs and as this is a job which gives unlimited income they would prefer to go for it.
Q-5. Chart showing the potential segment on the basis of occupation level Salaried
Businessmen Professional Housewife
Retired
Students Others
24
4
4
3
0
5
10
48%
8%
8%
6%
0
10%
20%
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“A Study on Recruitment for recruiting Financial Advisors�
Occupation wise 30 25 20 15 10 5 0 O th er s
s St ud en t
d Re tir e
Sa la rie
Bu d sin es sm en Pr of es sio na l Ho us ew if e
Series1
Interpretation :48% of candidates are salaried people, followed by 20% others which consists of all freshers. And salaried people can spare few hours for this whenever they get free time from their job and can earn commission, which is addition to their salary.
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“A Study on Recruitment for recruiting Financial Advisors� Q-6. How you were been made aware of ICICI Prudential Financial Advisors job
Telecalling
Pamphlets
Apartment activity
18
15
36%
30%
20
Joggers park
References
4
Beauty parlour visit 7
4
2
8%
14%
8%
4%
18
18 15
16 14 12 10
Series1 7
8 6
4
4
4
2
2
Ap at m en Be t au ty pa rlo ur Jo gg er s pa rk R ef er en ce s
Pa m
Te le ca l lin
g
ph le ts
0
Interpretation: 36% of the candidates are recruited by Telecalling, because it is the media which can reach to different cities at a given time followed by pamphlets with 30% and Beauty parlour visit with 14%.
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“A Study on Recruitment for recruiting Financial Advisors� Q-7. Chart showing the number of candidates opted for training
Manual Training
On-line training
3
47
6%
94%
50 40 30 20 10 0
Manual training
Online Training
3
47
Series1
Interpretation: Online Training is most preferable because it fetches 94% of the respondents. Online training is accessible at any time and at any place only Internet matters.
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“A Study on Recruitment for recruiting Financial Advisors”
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“A Study on Recruitment for recruiting Financial Advisors� Q-8. What made the candidates to join ICICI prudential as Financial Advisors To supplement my Passion for job income 11 11
To utilize spare time 9
22%
18%
22%
my To build Career 19
my
38%
20 18 16 14 12 10 8 6 4 2 0
19 11
11
To supplement my income
Passion for job
Series1
9
To utilise my spare time
To build my Career
Interpretation: Majority of candidates are graduates and fall under age 18-25, so they are the people who are new to corporate world and want to prove themselves i.e. want to build their career by acting as financial advisors.
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“A Study on Recruitment for recruiting Financial Advisors” Q - 9. How would you rate the following factors with regard to Advisor’s
job? (Rate between 1 to 5, 1 being the highest and 5 being the lowest)
25 20 15 10 5 0
1
2
3
4
5
Commission/Incentive s
24
15
4
2
4
Growth opportuniyies
15
9
14
11
1
Quality of work life
6
16
13
11
5
Brand images
2
3
8
17
20
Personality development
3
7
11
9
20
Interpretation Majority of the candidates are salaried and applied for this advisor’s job to get extra commission or incentive, so commission/incentive is the main factor which was consider by all candidates before applying for job.
Findings Babasabpatilfreepptmba.com - 58 -
“A Study on Recruitment for recruiting Financial Advisors�
1. Techniques of recruitment:
Telecalling
Pamphlets
Apartment activity
18 36%
15 30%
4 8%
Beauty parlour visit 7 14%
Joggers park
References
4 8%
2 4%
Out of 50 candidates, 36% of the candidates were recruited through Telecalling followed by 30% through Circulation of pamphlets through newspapers and 14% through Beauty parlour visit. 2. Male
Female
33
17
66%
34%
From the survey made on 50 candidates which were newly recruited, 66% of the 18-25
25-35
35-45
Above 55
30
19
0
1
60%
38%
0
2%
candidates are male and 34% are female. 3. Potential segment age wise:
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“A Study on Recruitment for recruiting Financial Advisors�
A survey on a sample of 50 candidates recruited showed that the most potential segment age wise is 18-25 with 60%, followed by 38% lying in between the age category of 25-35.
4. Potential segment education wise: PUC II
Diploma
Graduation
8
4
25
Post Graduation 13
16%
8%
50%
26%
On the basis of education I found that the most potential segment education wise was graduation with 50% and post graduation with 26%. 5. potential segment occupation wise: Salaried Businessmen Professional Housewife Retired Students Others To supplement my Passion for job To utilize my To build my income spare Career 24 4 4 3 time 0 5 10 11 11 9 19 48% 8% 8% 6% 0 10% 20% 22% 22% 18% 38%
Findings also showed that 48% of the candidates which were recruited were salaried followed by 20% others which consist of all freshers.
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“A Study on Recruitment for recruiting Financial Advisors�
6.
It was also found that 38% of the candidates which were recruited applied for his job with an intention to build their career. 7. Manual Training
On-line training
3
47
6%
94%
Findings showed that 94% of the candidates opted for online training and 6% of the candidates opted for manual training. 8. Commission/incentive is the main factor which was consider by all candidates before applying for job followed by growth opportunities as the second highest factor.
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“A Study on Recruitment for recruiting Financial Advisors”
MY ACHIEVEMENTS
At ICICI Prudential Life Insurance Company Ltd, I was given a target to make my task more challenging and I accepted it. My target was to recruit 15 Candidates in two months. I gained a lot of experience while achieving my target and this inspired me to get more than the number assigned. At the end of second month I had carried out all the methods of recruitment which I had developed and met totally 50 individuals. In this process of my work I educated them regarding the job and created awareness about ICICI Prudential Life Insurance Co’ Ltd. Out of the 50 individuals I found that 33 were interested and I could finally convince them for the Financial Advisors job. And for doing my job successfully I was awarded with a cash price of Rs.10, 250.
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“A Study on Recruitment for recruiting Financial Advisors”
Suggestions For recruiting a large number of people, circulation of pamphlets through Newspapers would be more effective as it has a wide coverage. Another effective method of recruitment would be Beauty parlour visit as this is one such method where we get the required number and kind of candidates like young girls and ladies in one place at a time. Other than the methods which I conducted I would even like to suggest setting up of a stall at a shopping mall and other crowded areas like theatres and religious places wherein we will get a large number of people. For ICICI Prudential to have more efficient advisors it should tap those people who are in the age group of 18 to 25 years and 25 to 35 years and this can be done by tapping the fresher who finish their graduation and are about to hunt for job and the salaried and business people as they will be having many contacts.
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“A Study on Recruitment for recruiting Financial Advisors” Another most effective method could be by giving Television ads on local channels like In Belgaum, as this method could be a better one to reach out to every house at a faster rate. The number of candidates recruited for manual training were very less when compared to online training. So to increase the manual recruits the continuous training of 18 days should done for 3 days in every week or on weekends as working people find difficult in attending the continuous regular training. I would further suggest focusing much on the growth opportunities as now a days people are interested in achieving more and more and they don’t want to be stable in their life. Conclusion I conclude that, after resorting to the various methods developed and an extensive analysis, ICICI Prudential Life Insurance Co’ Ltd., should take up aggressive methods of recruitment like circulation of pamphlets and other practical methods like visiting beauty parlours, apartments and setting up of stalls at crowded areas like shopping malls, trade fairs, religious places and theatres and Television Adds on local channel to reach out to every house.
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“A Study on Recruitment for recruiting Financial Advisors”
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“A Study on Recruitment for recruiting Financial Advisors”
Contents - Appendix Questionnaire -
Bibliography
Questionnaire Dear Sir/Madam,
Name: ____________________________
Address:___________________________
___________________________
Contact No: _______________________
Email ID: __________________________
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“A Study on Recruitment for recruiting Financial Advisors” 1. Gender: Male
(
)
Female (
)
Unmarried
(
2. Marital status: Married
(
)
)
3. I am aged between: •
18 yrs – 25 yrs
(
)
•
25 yrs – 35 yrs
(
)
•
35 yrs – 45 yrs
(
)
•
Above 45 yrs
(
)
4. I have completed my •
PUC II
(
)
•
Diploma
(
)
•
Graduate
(
)
•
Post Graduate
(
)
5. Right now I am •
Salaried
(
)
•
Businessman
(
)
•
Professional
(
)
•
Housewife
(
)
•
Retired
(
)
•
Any other, specify ___________
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“A Study on Recruitment for recruiting Financial Advisors” If Professional: Doctor
(
)
Advocate
(
Engineer (
)
CA/ICWA/CFA
)
(
Teacher (
)
)
6. How were you been made aware of ICICI Prudential’s Financial Advisor’s job offer? Through: •
Tele-calling
•
Pamphlets through Newspapers
(
)
•
Apartment activity
(
)
•
Beauty parlour’s visit
(
)
•
Joggers park
(
)
•
Friends and Relatives
(
)
•
Any others specify___________________
(
)
7. Which method of Training did you opt for? Manual Training (
)
Online Training
(
)
8. What made you join ICICI Prudential as Financial Advisor?
To supplement my income
(
)
Passion for job
(
)
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“A Study on Recruitment for recruiting Financial Advisors”
To utilize my spare time
(
)
To build my Career
(
)
9. How would you rate the following factors with regard to Advisor’s job? (Rate between 1 to 5, 1 being the highest and 5 being the lowest) •
Commission/incentives
(
)
•
Quality of work life
(
)
•
Growth opportunities
(
)
•
Brand Image
(
)
•
Personality Development
(
)
Thank You
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“A Study on Recruitment for recruiting Financial Advisors”
Bibliography
Text book: 1. Subha Roa
Web Site: 1. www.google.com 2. www.iciciprulife.com 3. www.insurance.com
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