Volume 1, Issue 1(October, 2011)
A STUDY OF TRAINING IN INSURANCE AND THEIR IMPACT ON EMPLOYEES PRODUCTIVITY Dr. Shefali Verma* Rita Goyal**
The training and development function plays a further enhanced role and holds more importance, as it deals with knowledge of workers .Employees are entrusted different roles and responsibilities in the LIC. Training enables them to carry out these roles and responsibilities efficiently and also learn new things, which will prepare them to take up higher responsibilities in the future. In the insurance sector, the training and development function holds a key responsibility by helping employees to upgrade their performance on a continuous basis. This paper analyzes the status of various training and development practices in Life Insurance Corporation in India and explores the proposed link between the training and employees productivity. The study makes use of statistical techniques such as mean, standard deviation, Z test. Correlation analysis and regression analysis to process and analysis the data collected for this study. The result shown that the Training in Life Insurance Corporation is average and the perception of employees regarding the Training and Development do not differ significantly. The paper ends by offering useful suggestions to the management involved in the operations of the corporations. Some of the recommendations are- it is vital that managers, senior executive, as well as all employees receive training; and that any training/management development which takes place is based on proper analysis of its contribution to the effectiveness and efficiency of an organization. Key words: Training Programme, LIC, Employees Productivity
*Associate Prof. MMIM, , **Lecturer Dept. of Humanities and Social Sciences, MMEC,Maharishi Markendeshwar University, Mullana (Ambala)
International Journal of Research in Economics and Social Sciences http://www.euroasiapub.org
Volume 1, Issue 1(October, 2011)
Human resource development (HRD) is concerned with the provision of learning and development opportunities that support the achievement of business strategies and improvement of organizational, team and individual performance (Armstrong and Baron, 2002).The journey toward s a knowledge economy demands the new additional type o f competencies like team spirit, co-operation, etc. To reach the destination of knowledge economy in high productivity places like insurance, the lifelong learning concept should be applied to its workforce. During the last ten years, “lifelong learning” has become one of the most frequently heard terms in training circles. This is perhaps an apt response to the increasingly rapid changes under-way in modern societies. As a sequel, every business entity worth its salt is placing utmost importance on the development of Human Capital - the knowledge, skills and motivation embodied in people. The growing share of economic output in the services sector is turning to be knowledge and information-intensive. This in itself is placing a high premium on the continued chronological development. This reality according to Goldstein and Gillian (2006); and Zager (2008), has magnified the importance of successful training and development programs with measurable results. Consequently training and development has become one of the most critical aspects of human resource management effectiveness. No matter the way one looks at training and development, they help employees to learn how to use the resources in an approved fashion that allows the organization to reach its desired output. Able people may grow to a point where they are ready for responsibilities beyond their initial assignment. When this happens, training and development become imperative. Training and development has grown concerned not only with helping individuals to adequately fill their positions, but also...