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Human resource policy

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The document contains basic features of human resource management and general policies formulated by almost every organisation for managing their human resources.

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Human Resource Policy COMPANY: TATA AIG Humsi Singh | B.Com (HONORS) | 2018-2019
PAGE 1 Contents: 1. Introduction 2. Organizational Structure 3. Functions of HR 4. Sources of Recruitment 5. Selection Process 6. Types of Employees 7. Career Options 8. Compensation of Employees 9. Benefits Apart Salary 10. Measuring Employee Performance 11. Training and Development 12. Motivation of Employees 13. Recognition of Employees 14. Grievance Redressal 15. Employee Retention Strategy 16. Conclusion
PAGE 2 Introduction  Human Resource Management It comprises of three main segments. Human i.e. skilled workforce in an organisation, resource i.e. limited availability and management i.e. maximization or proper utilization of resources. So , by this we get Human Resource Management is basically planning, organizing, direction and controlling of procurement, development, compensation, integration, maintenance and separation of human resource to the end that fulfill individual, organizational and social goal.  Human Resource Policies Human resource policies are established by an organisation to support administrative functions and manage the performance and resources of the organisation. These are the formal rules and guidelines that a company makes to hire, plan and manage these resources. These are systems of codified decisions established by an organisation.  TATA AIG Insurance company Tata AIG is one of the leading insurance companies providing both life and general insurance. It is a joint collaboration the American International Group, Inc.(AIG) and Tata Group. They own the companies in the ratio 26:74.It is the leading financial institution that created a niche for itself around the world. Tata AIG General Insurance Company started its operations in January 2001. Mr. Gaurav D. Garg is the Managing Director as well as the CEO of the company whereas, Tata AIG Life Insurance Company started its operations from February 2001. Mr. Suresh Mahalingam is the MD of the company.
PAGE 3 Organizational structure of Tata AIG Functions of HR Manager  Recruitment and Selection  Induction  Competence Development  Providing compensation and other employment benefits  Performance management  Talent and Career Management  Looking into Grievances of the employees Sources of Recruitment  Placement Agencies and Consultants  Campus Recruitments  Internal Job Postings  Off-Campus recruitments  Moving Across verticals  Promotions Selection Process  Preliminary Tests  Knowledge Tests  Reference and background check CEO 4 Zonal Heads Regional head Area or Clustre Head Branch Manager Unit Manager Financial Advisor
PAGE 4  Interview  Job Offer  Medical Checkup  Training and Development Types of Employees  Tata AIG has both permanent employees and employees on contract basis.  Both are on the company pay roll.  Company employs Financial Advisors who are not on payroll but on commission basis. Career Options at Tata AIG  Sales and Distribution  Customer Service  Branch and Centralized operations  Underwriting and Actuarial Functions  Claims  IT  Marketing and Communication  Financial and accounts  Human Resources and Training and Development Compensation of Employees  Basic-30% of Annual Salary  Bonus(yearly)  HRA  Medical Allowance  Conveyance Allowance  Other benefits (mobile phone bills, etc.)
PAGE 5 Benefits apart from Salary  Medi-claim  Performance Bonus  Superannuation benefits  Incentives Measuring Employee Performance  Goal Sheet  Target Achievement  Quality of work  Ethics used in Target Achievement  Customer satisfaction Training and Development of the Employees  On the Job Training  Functional Programs  Talent Acceleration programs  Eligibility criteria and duration  E-learning and institutional courses of Insurance in India  Career Progression programs and Leadership Development Ladder Motivation of Employees  Motivational Training Programs  Providing Incentives  Recognition of Employees  Sponsored holidays to employees and their families  Helping them in converting a prospect into sale  Special motivational programs  Annual theme party  World of Work(WOW)  Town Hall
PAGE 6 Recognition to Employees The Success Matrix is a program where they recognize the performance and contribution of employees through timely measures. This was inspired by the mythological theme of Greek Gods combined with the blockbuster "The Matrix.” – consists of three categories for recognizing Individuals, Teams on a Monthly, Quarterly & Annual basis as well as SPOT Recognition. – Recipients are acknowledged for their contribution though Awards and citations displayed on the "Wall of Fame" at all the branches. Grievance Redressal There is no proper grievance cell but they have a Disputes SettlementDepartment within the organization which looks after settling issues among employees or any complaints of the employees. Employee Retention Strategy  Career Progression Programs  Various motivational measures and programs for employees as well as their family members.  Performance based appraisal  Performance based work culture  Provides work-life balance Conclusion Tata AIG offers exciting opportunities to learn, contribute and build careers. As a leading name in the fast-paced insurance industry, they are constantly growing and are always in search of bright talent across all levels. The Company's philosophy is strongly oriented to developing talent through larger and more enriching assignments.They recognize potential and consistent performance and their dynamic corporate culture can be summed up as “Work hard, play hard”.
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Human resource policy

  • 1. Human Resource Policy COMPANY: TATA AIG Humsi Singh | B.Com (HONORS) | 2018-2019
  • 2. PAGE 1 Contents: 1. Introduction 2. Organizational Structure 3. Functions of HR 4. Sources of Recruitment 5. Selection Process 6. Types of Employees 7. Career Options 8. Compensation of Employees 9. Benefits Apart Salary 10. Measuring Employee Performance 11. Training and Development 12. Motivation of Employees 13. Recognition of Employees 14. Grievance Redressal 15. Employee Retention Strategy 16. Conclusion
  • 3. PAGE 2 Introduction  Human Resource Management It comprises of three main segments. Human i.e. skilled workforce in an organisation, resource i.e. limited availability and management i.e. maximization or proper utilization of resources. So , by this we get Human Resource Management is basically planning, organizing, direction and controlling of procurement, development, compensation, integration, maintenance and separation of human resource to the end that fulfill individual, organizational and social goal.  Human Resource Policies Human resource policies are established by an organisation to support administrative functions and manage the performance and resources of the organisation. These are the formal rules and guidelines that a company makes to hire, plan and manage these resources. These are systems of codified decisions established by an organisation.  TATA AIG Insurance company Tata AIG is one of the leading insurance companies providing both life and general insurance. It is a joint collaboration the American International Group, Inc.(AIG) and Tata Group. They own the companies in the ratio 26:74.It is the leading financial institution that created a niche for itself around the world. Tata AIG General Insurance Company started its operations in January 2001. Mr. Gaurav D. Garg is the Managing Director as well as the CEO of the company whereas, Tata AIG Life Insurance Company started its operations from February 2001. Mr. Suresh Mahalingam is the MD of the company.
  • 4. PAGE 3 Organizational structure of Tata AIG Functions of HR Manager  Recruitment and Selection  Induction  Competence Development  Providing compensation and other employment benefits  Performance management  Talent and Career Management  Looking into Grievances of the employees Sources of Recruitment  Placement Agencies and Consultants  Campus Recruitments  Internal Job Postings  Off-Campus recruitments  Moving Across verticals  Promotions Selection Process  Preliminary Tests  Knowledge Tests  Reference and background check CEO 4 Zonal Heads Regional head Area or Clustre Head Branch Manager Unit Manager Financial Advisor
  • 5. PAGE 4  Interview  Job Offer  Medical Checkup  Training and Development Types of Employees  Tata AIG has both permanent employees and employees on contract basis.  Both are on the company pay roll.  Company employs Financial Advisors who are not on payroll but on commission basis. Career Options at Tata AIG  Sales and Distribution  Customer Service  Branch and Centralized operations  Underwriting and Actuarial Functions  Claims  IT  Marketing and Communication  Financial and accounts  Human Resources and Training and Development Compensation of Employees  Basic-30% of Annual Salary  Bonus(yearly)  HRA  Medical Allowance  Conveyance Allowance  Other benefits (mobile phone bills, etc.)
  • 6. PAGE 5 Benefits apart from Salary  Medi-claim  Performance Bonus  Superannuation benefits  Incentives Measuring Employee Performance  Goal Sheet  Target Achievement  Quality of work  Ethics used in Target Achievement  Customer satisfaction Training and Development of the Employees  On the Job Training  Functional Programs  Talent Acceleration programs  Eligibility criteria and duration  E-learning and institutional courses of Insurance in India  Career Progression programs and Leadership Development Ladder Motivation of Employees  Motivational Training Programs  Providing Incentives  Recognition of Employees  Sponsored holidays to employees and their families  Helping them in converting a prospect into sale  Special motivational programs  Annual theme party  World of Work(WOW)  Town Hall
  • 7. PAGE 6 Recognition to Employees The Success Matrix is a program where they recognize the performance and contribution of employees through timely measures. This was inspired by the mythological theme of Greek Gods combined with the blockbuster "The Matrix.” – consists of three categories for recognizing Individuals, Teams on a Monthly, Quarterly & Annual basis as well as SPOT Recognition. – Recipients are acknowledged for their contribution though Awards and citations displayed on the "Wall of Fame" at all the branches. Grievance Redressal There is no proper grievance cell but they have a Disputes SettlementDepartment within the organization which looks after settling issues among employees or any complaints of the employees. Employee Retention Strategy  Career Progression Programs  Various motivational measures and programs for employees as well as their family members.  Performance based appraisal  Performance based work culture  Provides work-life balance Conclusion Tata AIG offers exciting opportunities to learn, contribute and build careers. As a leading name in the fast-paced insurance industry, they are constantly growing and are always in search of bright talent across all levels. The Company's philosophy is strongly oriented to developing talent through larger and more enriching assignments.They recognize potential and consistent performance and their dynamic corporate culture can be summed up as “Work hard, play hard”.