Talent Acquisition_E-Magazine 20 Oct(changes)

TALENTScoop

e-Magazine

Quarterly Edition: April'20 - May'20

WE BELIEVE IN

FROM LEADER’S LENS

Acquiring the right talent is the most I express my gratitude
important key to growth. Hiring was and still to each one of you in
is, the most important thing we do. Organisation and Sta ng
Tea m for g i v i n g m e the
What makes an organisation grow in confidence that Recruitments
flourishing times and survive in a challenging is in safest hands and we
situation is the dedication, sense of all with our consistent
ownership that each and every employee e orts will continue to
shares with the organisation. profoundly keep it moving.
sensitive situation, when the whole world is
facing the threat from the COVID-19
pandemic, every Max Life Insurance
employee has shown a pinnacle of ownership
and zenith of compassion towards the
organisation. It feels an honour to lead such a
gallant and sincere team.

The last quarter has been very successful for
Max Life Insurance during this tough times
and we are proud to tell you all about in this
n e w s l e t t e r.

With Peace and Gratitude,

SHAILESH SINGH
Vice President
Head Organisation and Sta ng

Hiring INSIDE VIEW Spotlight
Summary
Experience Meet
Competitor Scores t h e Team
Analysis
Hiring
Process

Fun Rush

HIRING SUMMARY

Let’s take a look at the hiring numbers from Q4, FY’20 and compare it with Q1, FY’21.

Hiring Numbers Q4(JFM) vs Q1(AMJ)

Non-distribution Distribution Q4 (Pre-COVID) Q1 (Post-COVID)
1712 172

Agency 868 > Axis 80

86 48 Operations 49 > Operations 11

Q4'20(JFM) Q1'21 (AMJ)

Functional Wise Split

Non-distribution Distribution
Axis
Ops Finance Ecomm Banca Agency CAT & SPARC
Digital IMF
HR Marketing ERM

IT PCM

Brand 3 and above Brand 4 and below Brand 3 and above Brand 4 and below
9 10 9 161 79

21 121 1 21 1 2 42 45
19

1 5

HIGHLIGHTS

The active hiring majority is In Q1, 51% employees
in Axis, followed by Agency onboarded though Employee
in Distribution, CFO & Referral in Distribution &
Non-CFO in Non-Distribution 23% in Non-Distribution, in
Q1 for Band 4 & 5

35% of Band 3+ Hiring through Employee referral campaigns
Employee Referral in AMJ on Workplace / Enhanced
referral schemes to be launched

Vendor Hiring is 37% in Non-Distribution (Band 4 & 5), 63% in Distribution
and 40% in Non-Distribution (Band 3+) across functions. Due to COVID &
related cost control measures we are expecting direct channel contribution
to increase by 10% with a similar reduction in vendor hiring.

Diversity percentage for last year was 11% and in Q1'21 is 10.7%

EXPERIENCE SCORES

Responses – 66

Invites: 75 Response Rate: 88%
Hiring Manager Experience Candidate Experience

87% Target 70% 87% 89% Target 80% 90%

JFM (Q4) AMJ (Q1) JFM (Q4) AMJ (Q1)

Vertical Wise Split

84% 87% 89% 86% 90% 91%
FLG FLG
Brand 3+ Corporate Brand 3+ Corporate

85% 90% 87% 95% 92% 86%

AMJ (Q1) JFM (Q4) AMJ (Q1) JFM (Q4)

Hiring Manager Candidate

HIGHLIGHTS

Overall candidate experience Scores in Corporate functions
scores have increased from (CFO, Non-CFO) dropped as
89% to 90% in AMJ compared to last survey

FLG has topped amongst Courteous & Comfortable
other functions with Interview Process has come
significant increase of across as a strong vector from
2% - 5% in Stakeholder & candidate experience survey
Candidate Survey score
respectively

Post O er Engagement with candidate & updating the status with Hiring
Manager has also been marked top by the Hiring Manager

*Experience scores pilot was launched this year for Non-distribution only and soon will be
replicated for distribution.

SPOTLIGHT

We improvise. We adapt

eBandhan - A new wave in induction Redefined Diversity & Inclusion – An
exclusive page on IIM Jobs
Even before the pandemic stuck us
and made us think of new approach To go out of the box we have included
to work around it, the team was into D&I in our IIM Jobs page, that
the process of developing a new broadcast Max Life Insurance as
way to target the new joiners. We di erent from other LI organisations.
have been appreciated by the SLT to With the intent of increasing our
achieve this way of induction which diversity contribution and identifying
not only enable us to approach new woman only roles, we have
joiners on PAN India but to also go successfully redefined D&I hiring
paperless. This has also impacted process for Band 3+ role across
with the cost saving amongst the distribution and non-distribution
organisation. channels.

Ta l e n t M a p p i n g d u r i n g Q 1 Recreated role specifications (JD)
43 roles were mapped and identified for Leadership hiring with
Max Life Insurance value descriptor
across functions in Q1 -

B a n d 4 & 5 - 16
B a n d 3 + - 27

SPOTLIGHT

contd…

Uniform automated signature across organisation

To amplify our new GPTW logo and automated signature, TA team collaborated
with the Marketing team to originate with a pre-designed template for all our
colleagues to use which showcase same message and belief amongst our
colleague while interacting with Internal / external stakeholders.

System Upgradation – Process Networking Guru – A fresh
Au tomat io n on ALT perspective to Employee Referral

Introduction of IJP / transfer letters, Launch of Networking Guru program
the process has been automated. and Employee Referral digitally
Hold Days has been automated enabled along with lucrative
and resolved, which provides us Employee Referral Scheme line win
with the correct TAT. a bike, LED and iPad.

Outside view of employer ranking - A Glassdoor initiative

An EB study was conducted amongst 12 industry sectors and more than 500
organisations in which Max Life Insurance is ranked #2. TA has been constantly
collaborating with external PR teams to ensure constant online reputation
management of Max Life Insurance. We have successfully achieved 100%
coverage of response to queries listed on Glassdoor, Twitter, Facebook, Google
reviews and other related review platform.

COMPETITOR ANALYSIS

Keeping a close eye on the competition

NOW HIRING DO YOU KNOW?

These top 6 LI firms are D U R I N G COV D -1 9, H E A LT H
majorly hiring in Agency IN DEMAND,MOTOR LAGS
( h t t p s : // b i t . l y/ 3 n v g M q K )
and Operations.
LIFE ISNURACNE SECTOR TO
HDFC Life During COVID-19, SEE GROWTH COMING BACK
BALIC HDFC Life was TO N O R M A L- E D E LW E S I S
IPRU amongst the ( h t t p s : // b i t . l y/ 3 d b J F 6 u )
SBI Life top recruiter
Tata AIA
Kotak Life BAJAJ ALLIANZ LIFE
INSURANCE LAUNCHES
Hiring Split (across LI) CHILD EDUCATION PLAN
WITH GURANTED INCOME
( h t t p s : // b i t . l y/ 3 4 H d 8 l 6 )

Technology 45 + AEGON LIFE INSURANCE
Bancassurance LAUNCHES 1 YEAR TERM
Agency 30
20 INSURANCE WITH COVID-19
10
COVER (https://bit.ly/34Eo570)

Operation LIC LAUNCHES PENSION
SCHEME WITH 10 YEAR
TERM POLICY FOR SENIOR
CITIZENS (https://bit.ly/2GKZDbH)

Ops Functional Split LIC LIKELY TO BRING DOWN
IT’S STAKE IN IDBI BANK
( h t t p s : // b i t . l y/ 3 6 O d d 9 l )

Technology 33 33 SBI LIFE INSURANCE -
Bancassurance 17 17 Q 1 F Y 2 1 R E S U LT U P DAT E -
Agency ICICI SECURITIES
( h t t p s : // b i t . l y/ 3 j X 1 Y P i )

Operation LIFE COVER SURRENDERS
ARE RISING!
( h t t p s : // b i t . l y/ 3 n A c 4 Y D )

HIRING PROCESS

Realigning basics

Let's hire the best, and stay ahead of the rest in 13 steps

01 4 Days 04

HM shares requirement 02 03 Recruiter calibrates
with HR Biz Partner with HM & initiate JR for
HIRING (HRBP) / Recruiter HRBP Raises Job HM approve JR Internal Job Posting (IJP)
MANAGER (HM) Requisition (JR) on on ATS & Employee Referral (ER)

Applicant Tracking
System (ATS)

2 Days 1 Day 4 Days ONBOARD 4 Days

11 12 13 2 Days 05

Offer approval process Recruiter rolls Offer accepted. 07 IJP applicants goes
as per MLI guidelines out offer Recruiter initiates through process post
Background Verification Recruiter Screening
1 Day REJECTED C&B clearance
Process
10 1 Day
OFFER DROP / REJECT
Recruiter prepares 06
offer positioning 2 Days SHORTLIST 3 Weeks
Recruiter initiates DS
09 08 & External Posting

Documentation HM & HRBP
for Offer Evaluation

Psychometric
Assessment

MEET THE TEAM

SHAILESH SINGH
Vice President

Head Organisation & Staffing

JUHI SINGH PULKIT MALHOTRA NEHA SONKAR PARUL MALIK SHEENA MAHANA
Chief Manager Chief Manager Chief Manager Senior Manager Manager
RPO Hiring (Agency) FLG, FLP Hiring RPO Hiring (Non-Agency)
Leadership Hiring & Bandhan CFO & Non-CFO Hiring
& MITTR

PREETISH NAIR SHREYA MEHTA VANDANA BHATIA RUPALI CHITRAL PALASH SHARMA AANCHAL MALHOTRA
Manager Assistant Manager Assistant Manager Assistant Manager Assistant Manager Business Partner
Agency South 2 and East CAT & SPARC Hiring Banca Hiring,
Agency North Agency West Quality & IT COE Employee
Engagement

FUN RUSH

ALL WORK NO PLAY MAKES JACK A DULL BOY!

Put your intellectual pedal to the metal and rise above
as a pro Talent Acquisitor!

THE ACQUISITOR’S CROSSWORD

N TWE N T Y F OU R

MAX L I F E I AN S

LBYFDXL I S L E

I AN S I ANMT I W

ON T E S D T I WM Y

A D TWH S I T Y I N

I HLBAFUTUTU

SAAXD I NRDEN

WN Y F T E N A R D E

Across
• How many years of making a Di erence?
• A name we use to call Max Life employees.
• Our GPTW rank.

DOWN
• Name of our New Hire Orientation.
• How to refer a friend?
• Name of our Employee Referral program.
• Number of referrals allowed at a time.

HIRING IS NO CAKEWALK

Let’s roll the dice and walk the path of ensuring e ective Talent Acquisition.

36 35 34 33 32 31
27 28
Welcome No show O er O er
Aboard! on joining declined rolled out
day
29 30
25 26

Candidate Arrange Not enough
asking for Immediate Weekend response
joiners found drive
more 20
22 21
24 23 Frustrated, 19
15 16 work on 18
Finetune Doing well, other JD
search and continue 7
/ or Budget 17

13 14

Interviews Hiring
lined up Manger goes
on leave
Interview
12 11 Panel busy 9 8

10 Hiring Send CVs
Manager for review
rejects CVs
Internal
Candidate
found

12 3 4 5 Found 6

Identify Search in Publish on some CVs
Search existing pools Careers
New Job Understand Criteria / Portals to
Requisition JD vendors

Rules

The rules to this game of hiring are pretty simple:
1 . Where the Recruiter hat and cast your die to move yourself

as per the given number
2 . Keep an eye out on the di erent hiring steps given to the

alloted number as you play
3 . Aim to go for all the ladders, or as many as you can. T h i s w i l l h e l p

you to save on a lot of TAT
4 . Stay away from the snakes

^As per Annual Audited Financials for the year FY 19-20.
This document is strictly for internal circula�on and / or training purposes. Any unauthorised use of the same including as customer communica�on and / or in the solicita�on
process is prohibited. Max Life Insurance Company Limited is not liable for any loss incurred by anyone for any ac�on(s) taken basis the content of this document.