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A STUDY ON THE
EFFECTIVENESS OF TRAINING FOR ADVISORS
IN THE INSURANCE INDUSTRY WITH RESPECTTO ICICI PRUDENTIAL
SUBMITTED BY:
AISHWARYA RISHI
T.Y.BBA (A)
ROLL NO. 72
BRIHAN MAHARASHTRA COLLEGE OF COMMERCE
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DECLARATION
I Aishwarya Rishi student of Brihan Maharashtra College of Commerce BBA hereby declare that
the project report titled A STUDY ON THE EFFECTIVENESS OF TRAINING FOR
ADVISORS IN THE INSURANCE INDUSTRY WITH RESPECT TO ICICI
PRUDENTIAL carried out by me at ICICI Prudential‟s HR Department.
I hereby further declare that this project report is authentic to the best of my knowledge
AISHWARYA RISHI
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ACKNOWLEDGEMENT
This report required the co-operation of many people in terms of their guidance, written works,
discussions, lectures and published articles. It has indeed been a privilege to have been
associated with such luminaries and share their wisdom. I would like to take this opportunity to
thank all those who have directly or indirectly assisted me in making this project a success.
I sincerely thank and extend my appreciation to the management of ICICI Prudential, for giving
me an insight to the established organisation and for enlightening me about the various aspects of
importance of Training.
I would like to express my gratitude to the Principal of our College Mr. C.N Rawal for providing
me with the opportunity to work on this project.
I am extremely thankful to my mentor Mrs. Bharti Upadhye, Co-ordinator and Departmental
head of BBA for providing me with an opportunity to carry out my Company visits and thus
helping me in the completion of this project.
I sincerely thank my project guide Ms. Amruta Bokil our HUMAN RESOURCE
MANAGEMENT professor for her able guidance and encouragement in carrying out this project
work. Finally yet importantly, I wish to avail myself of this opportunity, express a sense of
gratitude towards the staff of BMCC for their administration support and love to my beloved
parents for their manual support, strength, and help and for everything.
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INDEX
SERIAL
NO.
TABLE OF CONTENTS PAGE
NO.
1 LIST OF TABLES AND GRAPHS
2 EXECUTIVE SUMMARY
3 INTRODUCTION
4 INDUSTRY PROFILE
5 COMPANY PROFILE
6 OBJECTIVES OF THE STUDY
7 THEORETICAL CONCEPTS
8 RESEARCH METHODOLOGY
9 DATA ANALYSIS AND INTERPRETATION
10 OBSERVATIONS AND FINDINGS
11 SUGGESTIONS
12 CONCLUSION
13 ANNEXURE
14 BIBLIOGRAPHY
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INDEX FOR TABLES, ILLUSTRATIONS AND GRAPHS
SERIALNO.
TABLE OF CONTENTS PAGENO.
1 HIERRARCHIAL STRUCTURE OF ICICI
PRUDENTIAL
2 HIERARCHIAL STRUCTURE OF
TRAINING DEPARTMENT
3 PIE CHART ON MARKET SHARE OF ICICI
PRUDENTIAL
4 DATA ANALYSIS AND INTRPRETATION
-GRAPHS WITH RELEVANCE TO THE
QUESTIONNAIRE
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EXECUTIVE SUMMARY
INTRODUCTION TO THE TOPIC
This is a project on “A STUDY ON THE EFFECTIVENESS OF TRAINING FOR ADVISORS
IN THE INSURANCE INDUSTRY WITH RESPECT TO ICICI PRUDENTIAL” which has
been undertaken in ICICI Prudential, HR Dept, Pune branches. This project attempts to
understand the objectives of training programs of insurance companies. A detailed study of the
training programs conducted by ICICI Prudential for its financial advisors has been prepared.
The main objective is to understand the impact of the training programs on the performance
levels of the financial advisors.
SCOPE OF THE STUDYICICI Prudential is currently No.1 private life insurer in the country. It has one of the largest
distribution networks amongst private life insurers in the country. This has generated curiosity in
me to know how far training programs have improved the employee‟s job performance. An
attempt has been made to understand the effectiveness of training programs at entry level, i.e.,
for advisors has been made here. For, the advisors are the public face of the insurance company
and make the most enduring impact on the customer.
OBJECTIVES OF THE STUDY
1. The primary objective of the study is, to analyze the effectiveness of training programs
conducted for advisors in terms of their performance with special emphasis on ICICI
Prudential.
2. To understand the objectives of the training programs of insurance companies.
3. To study the content and methodology of ICICI Prudential‟s training programs for advisors.
4. To analyze the feedback from the trainees about the training programs.
5. To recommend feasible improvements in the training programs conducted by ICICI
Prudential for advisors.
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RESEARCH METHODOLOGY
The study involved both primary and secondary sources for collecting
information. The secondary sources include company‟s website, books, journals, insurance
magazines, HR reviews, articles on internet etc .The primary data was collected with the help
of a structured questionnaire administered to 30 advisors who were selected through Simple
Random Sampling Technique.
DATA ANALYSIS AND INTERPRETATION
The data has been analyzed by assigning a percentage to the responses given by the advisors.
The observations made during the data analysis have been represented with the help of bar
diagrams/charts.
MAJOR FINDINGS
Finally, the conclusion part discusses about the major findings of the study and the various
measures to be taken by the ICICI Prudential to improve its training programs for advisors. The
advisors were not satisfied with the duration of the training programs. They are keen on having
more Training sessions. They wanted the number of trainers conducting the training programs to
be more in number. However, ICICI Prudential has been taking care to take note of such
problems and constantly trying to update the knowledge and skills of the advisors.
SUGGESTIONS
ICICI Prudential should concentrate more on the training programs conducted for the advisors.
For, they are the ones who not only sell the company‟s products but also create and maintain
brand image among the customers. Constant assessment of the advisor‟s skills in order to
upgrade them would go a long way in achieving success in this dynamic industry.
CONCLUSION
Training is a great responsibility, not only because it helps in the improvement of the work of the
employee, but also because it helps in cost saving. So, we can say that the need for training is
highlighted here, along with the various techniques, which are used for training,
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INTRODUCTION TO THE TOPIC
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INTRODUCTION TO THE TOPIC
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INDUSTRY PROFILE
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INDUSTRY PROFILE
Training objectives in insurance sector
In insurance sector, the need to be well trained assumes gigantic proportions. A unique feature as
regards insurance is that it is not merely sufficient to have a properly trained workforce; there is
a need to spread the message of insurance among the populace. The above, to a great extent,
depend on the knowledge ability of the distribution personnel on account of the interface that
they are required to maintain with all the prospects. The best of advertisements and other forms
of spreading message would be no substitute for a job well done by the intermediary.
The advisors are the public face of the insurance company and make the most enduring impact
on the customer. The prospective policyholders today need professional inputs from
intermediaries whom they can trust and respect. Therefore, the undeclared objective behind
training the advisors is their professionalization, making them capable of „good‟ selling and thus
ultimately benefitting the customer. Need analysis, features and benefits, objection handling and
closing skills are the key components of quality insurance sales training.
The opening up of the sector has given a boost to the training industry. Acute shortage of trained
and expert professionals has spurred the corporate houses to adopt the strategy of tying up with
educational institutions and overcome the dearth of skilled insurance professionals in this highlycompetitive market. A case in point is ICICI Prudential. The company has joined hands with
some training/ educational institutions to start customized courses.
Origin of Life Insurance
Life insurance was born in England when the first policy providing temporary
cover for a period of 12 months was issued as early as 1583 A.D. The Amicable Society
started granting fluctuating sum on death since 1705 and a fixed sum since 1757. With the
development of mortality tables, life insurance acquired a scientific character. The Equitable
Society founded in 1762 was the first society established on scientific basis.
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Origin of Life Insurance in India
In India, after the failure of two British companies, the European and the Albert
in 1870, which attempted writing business on Indian lives, first Indian life assurance
company was formed in the same year called Bombay Mutual Assurance Society Ltd. It was
followed by Oriental life assurance Company limited in 1874, Bharat in 1896 and the Empire of
India in 1897. The idea of insurance was born out of a desire of the people to share the loss of an
individual by many. Originally, it was restricted to other forms of life insurance. It started with
marine insurance where the losses on account of perils of the sea were shared by all who were
engaged in trade.
The Swadeshi movement of 1905 provided impetus to the formation of several companies such
as the “Hindustan Cooperative”, the „United India‟, the „Bombay life‟, the „National‟. Further, in
the wake of freedom movement, number of companies such as the „New India‟, the „Jupiter‟, and
the „Lakshmi‟ emerged. The government began to exercise certain measure of control on
insurance business by passing „Insurance Act‟ in 1912. In order to control the investment of
funds, expenditure and management, a comprehensive Act was passed known as „Insurance Act
1938‟. To control the affairs, the office of controller of insurance was established. The Act was
amended extensively in 1950.
Indian Insurance Market –
History
Insurance has a long history in India. Life insurance in its current form was introduced in 1818
when Oriental Life Insurance Company began its operations in India. General insurance was
however a late entrant in 1850 when Triton insurance company set up its base in Kolkata.
History of insurance in India can be bifurcated into 3 eras:
a) Pre Nationalization
b) Nationalization
c) Post Nationalization
Life insurance was the first to be nationalized in 1956. Life Insurance Corporation of India was
formed by consolidating the operations of various life insurance companies. General Insurance
followed suit and was nationalized in 1973. General Insurance Corporation of India was set up as
the controlling body with New India, United India, National and Oriental as its subsidiaries. The
process of opening up of the insurance sector was initiated against the background of Economic
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Reform Process which commenced from 1991. For this purpose, Malhotra Committee was
formed which submitted report in 1994 and Insurance Regulatory Development Act (IRDA) was
passed in 1999. Subsequently, Indian Insurance was opened for private companies, which began
operations since 2001. For years now, private players have been active in the liberalized
environment. The insurance market has witnessed dynamic changes which include presence of a
large number of insurers both life and non-life segment. Most of the private insurance companies
have formed joint venture collaborating well-recognized foreign players across the globe.
There are now 29 insurance companies operating in the Indian market – 15 private life insurers, 9
private non-life insurers and 6 public sector companies. With many more joint ventures in the
offing, the insurance industry in India today stands at cross roads as competition intensifies and
companies prepare survival strategies in a de-tariff scenario. There is pressure from both within
the country and outside on the Government to increase the Foreign Direct Investment (FDI) limit
from the current 26% to 49% which would help JV partners to bring in funds for expansion.
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COMPANY PROFILE
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COMPANY PROFILE
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank - one of India's foremost
financial services companies-and Prudential plc- a leading international financial services group
headquartered in the United Kingdom. Total capital infusion stands at Rs. 37.72 billion, with ICICI Bank
holding a stake of 74% and Prudential plc holding 26%.
The company began its operations in December 2000 after receiving approval from Insurance Regulatory
Development Authority (IRDA). Today, their nation-wide team comprises of over 955 branches in
addition to 1,033 micro-offices, over 261,000 advisors; and 20 banc assurance partners.
ICICI Prudential was the first life insurer in India to receive a National Insurer Financial Strength rating
of AAA (Ind) from Fitch ratings. For three years in a row, ICICI Prudential has been voted as India's
Most Trusted Private Life Insurer, by The Economic Times - AC Nielsen ORG Marg survey of 'Most
Trusted Brands'. As the company widens its distribution, product range and customer base, it continues to
tirelessly uphold its commitment to deliver world-class financial solutions to customers all over India
The success of the company will be founded in its unflinching commitment to five core values --
Integrity, Customer First, Boundary less, Ownership and Passion. Each of the values describes
what the company stands for, the qualities of people and the way they work.
Company believes that it is on the threshold of an exciting new opportunity, where it can play a
significant role in redefining and reshaping the sector. Given the quality of parentage and the
commitment of its team, there are no limits to its growth.
The VISION of the company is “To make the company the dominant Life and Pensions
player built on trust by world- class people and service.” The company proposes to achieve
its vision by:
Understanding the needs of the customers and offering them superior products and services.
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 the policy holders.
Providing and enabling environment to foster growth and learning for the employees.
Building transparency in all dealings.
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Every member of the ICICI Prudential team is committed to 5 core values:
Integrity
Customer First
Boundary less
Ownership
Passion
These values shine forth in all they do, and have become the keystones of company‟s success.
Hierarchical Structure of ICICI Prudential
BRANCH SALES MANAGER
ASSISTANT SALES
MANAGER (2)
UNIT MANAGER (10)
ADVISORS
SALES MANAGER (1)
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Hierarchy Structure of Training Department
TRAINING HEAD
TRAINING MANAGERS
ASSOCIATE TRAINING
MANAGER
ASSOCIATE TRAINING
MANAGER
BRANCH MANAGERS
CONSULTANT TRAINERS
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PRODUCTS
Insurance Solutions for Individuals
ICICI Prudential Life Insurance offers a range of innovative, customer-centric products that meet the
needs of customers at every life stage. Its 27 products can be enhanced with up to 6 riders, to create a
customized solution for each policyholder.
1. Savings Solutions
SecurePlus is a transparent and feature-packed savings plan that offers three levels of protection.Plus
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.
Cash Bank 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 & LifeTime II 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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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.
2. 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.
3. 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.
4. Retirement Solutions
Forever Life 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.
5. Market-linked retirement products
LifeTime Pension II is a regular premium market-linked pension plan
Life Link Pension II is a single premium market-linked pension plan.
Invest Shield Pension is a regular premium pension plan with a capital guarantee on
the investible
premium and declared bonuses.
ICICI Prudential also launched- SalaamZindagi, a social sector group insurance policy targeted at the
economically underprivileged sections of the society.
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6. 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.
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.
7. Flexible Rider Options
ICICI Pru 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 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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Major Surgical Assistance Benefit: provides financial support in the event of medical emergencies,
ensuring benefits are payable to the life assured for medical expenses incurred for surgical
procedures. Cover is offered against 43 surgical procedures.
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 SmartKid, SecurePlus and Cash Plus
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 Cash Plus.
8. Keyman Insurance Plans
A keyman is an individual who directly affects the profitability and the continuity of a business and
whose absence may have an adverse effect on the health and continuity of the business. Keyman
insurance is a life insurance policy taken by the company on the life of such a key person.
The objective of the Keyman insurance is to provide the company with money so that the financial losses
to the company can be protected, in absence of the Keyman. The aim is to indemnify the company of
these losses and to allow business continuity. All premiums paid for securing a Keyman life insurance
policy are treated as business expenditure u/s 37 (1).
9. Rural Plans
ICICI PruLife Rural Products are designed to meet the needs of the rural consumers. These
products offer the following features:
1. Low and Affordable Premiums
2. Life Cover
3. Savings Option
4. Hassle free procedure.
10. Mutual Funds
A Mutual Fund is a trust that pools the savings of a number of investors who share a common financial
goal. The money thus collected is then invested in capital market instruments such as shares, debentures
and other securities. The income earned through these investments and the capital appreciations realized
are shared by its unit holders in proportion to the number of units owned by them
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MARKET SHARE OF ICICI PRUDENTIAL
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TRAINING TECHNIQUES USED BY ICICI PRUDENTIAL
CLASSROOM METHOD
The value of a live, instructor-led training experience is undeniable. If the instructor is a
competent teacher who knows how to engage adult students so that they understand and retain
the material, live classroom training offers the most bangs for your training buck.A classroom
enables a learner to experience support from peers and instructors. This gives a sense of
encouragement and belonging to the student, allowing more time to learn things properly.
Classroom learning can also allow for more time. The learning process in some people takes
quite a bit of time, so a classroom setting is ideal for the patience and environment required. The
fact of the matter is that many people simply learn better in a classroom setting. Some people
thrive on the conversation of a topic with other people, which is something they feel
uncomfortable with in an online situation. The classroom setting allows for real time discussion
and provides interaction that isn‟t easily duplicated even with the most advanced of technology.
With classroom training, employees are around other workers and are learning the same material.
This allows for constructive team building, as people are joining together to work out basic
problems and find solutions as a group. This, coupled with the individualized sense of theory,
helps create a strong team within the staff. If the classroom theory allows for learning in small
groups, the sense of cooperation is reinforced significantly.
Many people also learn better in a one-on-one instruction session. Classroom training allows for
an individualized approach that cannot easily be duplicated in an online setting. Instructors can
answer questions and provide hands-on answers that should satisfy most curiosities. This allows
the students to learn readily and to effectively engage all of their senses with the material.
But it‟s difficult to give workers time out of the office and the price of petrol will probably never
drop below again. If you need highly specialized training, there may not be a training facility
anywhere near you that can meet your needs Classroom training is still the most effective
because of the live, dynamic interactions between the students and the instructor.
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ONLINE TRAINING
Businesses need to train and develop their employees regularly as it will help improve employee
work performance, provide them with skills necessary to deal with changing technologies, and
equip them adequately to perform their duties and helping the company achieve its goals. This
has become a problem though for many small businesses as they have to work on a small budget,
cannot afford to have the employees away from work for several days to gather as work could
come to a standstill. This is when online training programs come in handy.
Advantages of Online Training for Employees:
Providing online training for employees will greatly benefit those companies that cannot afford
to have employees away from work for long durations. Online training can be given to just one
or to a group of employees with relative ease and with minimum wastage of time and energy.
The employees can learn on the job spending a few hours each day whenever it is convenient for
them, from their workstations, which greatly helps small businesses by being economical as well
as providing tailor made materials for the company. The company looks out for online training
material providers to provide a content rich course material to be distributed internally, courses
designed to teach individuals qualities they need training in such as leadership, or they seek help
to develop and offer courses themselves. Training helps motivate the employees, making them
adept at handling any situation, as well as improves work quality.
Online training for employees is also preferred by large corporations with offices and employees
at different continents, since training for a large group of employees at different locations can be
done easily with their workstations. These methods are effective as information is just a click
away and courses are offered through emails, interactive websites as well as CDs etc.
Online training for employees ensures that companies get to train their employees fast and make
them learn skills necessary for optimum performance at their convenience. When companies
sponsor the training, employee moral gets a boost as well as increases the motivation to complete
the training successfully. Performance management systems guide the company as well as the
employee in choosing the right training necessary for each individual employee. Online training
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has made it possible for employees to further their qualifications by enrolling in online
universities as well as continue their present jobs; mostly the company sponsors their training.
The ease of locating training institutes, offering specific content rich course materials and easy
schedules, has made providing online training for employees easy and beneficial for businesses
as well as for the employees.
There are firms that specialize in offering their services and products to help new owners run a
business successfully and smoothly.
The 6 Types of Online Training
Web pages with text information for learning courseware instead of a printed book. The webpages contain explanatory material, step-by-step instructions, and screenshots.
EBook courseware, with explanatory material, step-by-step instructions, and screenshots.
Interactive learning with audio, video, and clickable elements onscreen like quizzes.
Screen casts, which are recorded video of onscreen actions in a software application, usually
with voice-over narration.
Webinars, which often consist of a shared group environment online for chat, audio, video, and
whiteboard. These can be participated in live when they run or watched as recordings after the
live event.
ILEs, which are Interactive Learning Environments. ILEs offer a comprehensive, learning
program that often incorporates all of the above methods. Whereas the above methods are often
paid for as individual products, ILEs are often purchased as a recurring membership. However,
there is a solution that offers the best of both worlds.
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OPEN FORUMS
With the Internet easily accessible, and with computers in abundance from offices to libraries
and homes, naturally turning to the Internet as a tool for training is a wise choice. Allowing your
employees to learn in the comfort of their own home, or by learning at work through Internet
training programs allows each employee the freedom to work at his or her own pace. Thus
saving you valuable resources for those employees that learn faster and allowing those that learn
slower the time to let the information "sink in." Let us look at the variety of training options
available through the Internet, and see how the programs offered can benefit your organization.
Online Course(s)
Many learning centres offer courses available online to teach certain skills in a variety of fields.
For instance, the University of Phoenix happens to be a school that offers college courses online
for credit or simple certifications that can be obtained. By asking your employees to take
advantage of becoming certified in certain areas you are adding the protection and prestige to
your organization by boasting "certified" technicians. Prices for these courses vary and are often
reimbursed to you the employer tenfold with a well-trained employee to show for it.
Online Seminar(s)
Depending on your filed of expertise there are often companies that sublet trainers to train your
employees via an online platform. Costs can vary based on your specific needs so keep in mind
to inquire about costs prior to enrolling anyone in the seminar. Sometimes taking advantage of
these trainers is in your best interest should you have a basic approach to how to train your
employees. On the other hand, if your field is not as general or broad as some other fields you
may find it hard to find a seminar that fits in with what you are trying to train. If you are
attempting to train customer service skills, a seminar of this sort should be easy to come by, have
your employees enroll in the seminar and you should be all set. However if you are looking for a
seminar on how to change oil in a Volvo you may find this seminar much harder to come by.
Although with the Internet being worldwide and the categories and subjects available to you
online nothing is impossible.
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Online Forums or Discussion Boards
Creating a small webpage (or large webpage) and adding a forum where employees can ask
questions anonymously may benefit your company as well. Incorporating a facts and questions
(FAQ) section may also help, while you're at it include an area where potential customers can
ask questions and you have created not only a good training method but also a new advertising
avenue. Implementing an open forum, where questions can be asked and answered by employees
helps solidify the training process and saves time and money because there is no need to hire
additional trainers, your. Offering incentives to employees who to take a on a tutoring or training
type role in your dedicated online discussion area may also help boost employee morale and
involvement.
Online demonstrations
With programs that make video conferencing readily available it is not hard to hold your own
training seminars, lectures, question and answer sessions, or demonstrations for others. Programs
such as Skype offer video conferencing where you can see each other in a "face to face" meeting,
or conversation and can address questions or concerns. Demonstrations are also an added bonus
because showing something to someone while explaining it helps the employee retain more of
the lesson provided.
Whatever you goal is when training your future employees keep in mind that to train is to teach,
it is important to find a training method that works for you as well as your employees. Always
make yourself available for questions and make sure you provide feedback on a regular basis,
this give the employee the sense that they are in fact "getting the hang of things" or that certain
areas need improvement. Learning is all about retaining information, and drawing on the
information one retains to use in daily activities, in essence the best training techniques are hands
on experience, as repetition tends to solidify the learning process.
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OBJECTIVES OF THE PROJECT
6. The primary objective of the study is, to analyze the effectiveness of training programs
conducted for advisors in terms of their performance with special emphasis on ICICI
Prudential.
7. To understand the objectives of the training programs of insurance companies.
8. To study the content and methodology of ICICI Prudential‟s training programs for advisors.
9. To analyze the feedback from the trainees about the training programs.
10. To recommend feasible improvements in the training programs conducted by ICICI
Prudential for advisors.
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THEORETICAL CONCEPTS
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THEORY AND CONCEPT
“It is our people who make the difference where it matters most…”
(Tesco 2002)
“This is a global success story made possible by the quality and determination
of over 100,000 people worldwide.”
(Vodafone 2002)
“…we believe that competitive advantage is achieved through our people…”
(Kellogg 2002)
Since prehistoric times the jobs of adults have been taught to children to prepare them for
adulthood. Throughout the centuries societies have changed, have become more complex. The
kinds of work to be done, the skills needed, and the tools used to do the work have changed. In
order to manage these changes in the complexity, volume, and content of work, job training also
evolved. This paper describes how and why job training changed as work changed.
When humans created artifacts, the need for teaching others how to use those artifacts became
necessary. Teaching others to use a tool to perform a task was one of the first goals of training.
"As man invented tools, weapons, clothing, shelter, and language, the need for training became
an essential ingredient in the march of civilization" (Steinmetz, 1976). As the artifacts became
more complex, different ways of training were developed to be more effective and efficient.
"Instructional practices were developed that served the needs of the times, evolving into accepted
instructional paradigms" (Brethower and Smalley, 1992). These different practices were
developed at different times, and some of them changed through the years, but all of them are
used today, depending on the training need and situation.
Training is different from education. Training teaches the learner how to do a specific task, such
as running a machine, or making a shirt. Education is instruction (in the more general knowledgeof the society, such as the history of the society, or knowledge of mathematics). As societies
developed, there accumulated more knowledge than people could pick up on their own or learn
informally from others. At some point, it became necessary, to formally educate young people in
the amassed knowledge of their society in order to help them function in that society.
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The development and well-being of a country depends, largely, upon the quality and quantity of
its population, the proper and prudent use of the available human resources, proper Human
Resource Management, the stock of natural resources it has and modern methods of techniques
of production available. Of course, there are many factors, e.g. political atmosphere, economic,
industrial and commercial development, etc. which also affects the development of a country.
The economic life, economic development and growth, prosperity etc. of a country are governed
by the natural and human resources of that country.
HISTORY OF MANAGEMENT TRAINING
Management Training in the past
In the past, organizations developed managers, first by recognizing an individual‟s strong
occupational knowledge about the organization‟s products or services. These individuals were
promoted to first-level positions that included work direction. One cannot say they supervised in
the current sense of the word, that is, they usually did not delegate, support career counseling,
conduct performance reviews, etc. Rather, they told workers what to do and workers did it.
These work directors had little training about supervision, e.g., about delegating, interpersonal
skills, stress management, career developments, etc.
Management Training in the 50s to 80s
Management training focused on covering certain standard topics or types of activities in the
organization, e.g., planning, organizing, finances, sales, accounting, etc. Students would immerse
themselves in the current course, and then leave that course to immerse in the next. However,
reality is that a manager in the workplace seldom solves a problem by applying his or her
knowledge of one specific topic (then goes on to solve the next problem by applying his or her
knowledge of another specific topic). A highly effective manager integrates expertise across
various management topics. Yet few management schools provided opportunity for management
students to integrate and apply information from their various courses.
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Traits of Progressive Management Development Programs (Now)
With the Human Relations movement, training programs recognized the need to cultivate
supervisory skills, e.g., delegating, career development, motivating, coaching, mentoring, etc.
Progressive management schools now have students review a wide body of management topics
and learn those topics by applying that knowledge in the workplace and reflecting on that
application. Learning activities incorporate learners‟ real-world activities in the workplaces or
their lives. Assignments include reflection and analysis on real-world experience. Learning is
enhanced through continuing dialogue and feedback among learners. Very good schools manage
to include forms of self-development, too, recognizing that the basis for effective management is
effective self-management.
Effective management development programs help students (learners) take a system‟s view of
their organizations, including review of how major functions affect each other. Assignments
include recognizing and addressing effects of one action on their entire organisation. In the
recent past, i.e. last few years of the 20th
century and in the first few years of the present 21st
century, we find fundamental changes in approaches, attitudes, philosophy, outlook, and
practices in the personnel area in the form of human resource management strategies. Because of
which, it has become very essential for almost all organizations to develop skills, potential,
capabilities, talents, attitudes etc. of the people working with them to meet the challenges of
future. Therefore, many organizations have evolved and adopted suitable human resource
development policies. The human resource development policies and strategies
Every organization requires competent employees for the successful functioning of its various
departments. To ensure that the staff works efficiently and effectively, the organization has to
continuously evaluate their performance and bridge any performance gaps by providing
appropriate training to them. For, it is the people who „make or break ‟ an organization.
Traditionally, the training policy in an organization is focused on enhancing the productivity and
effectiveness of the employees so that the medium term and long-term strategies of the
organization could be successfully fulfilled. Since up gradation of skills and knowledge has
direct relevance to performance, training policy until date was desired to have linkages with
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other HR systems and policies like performance appraisal, career planning, rewards and
promotion as decided by the management.
With the ushering in of Globalization and Liberalization since early 1990s, there has been a sea
change in our business processes, and our corporate practices forcing organizations to mould
themselves to the new era of competition, where they have to compete not at local or national
level but at international level. This necessitates huge investments in the training programs for
providing the requisite skill set to the staff.
LITERATURE REVIEW
As customer relationship plays an important role in the insurance business, adequate training has
to be provided to the employees to understand the customer needs and communicate the suitable
product details according to their requirements. A company will be successful if the
intermediaries interacting with the customers have a sound knowledge of the products available
and are able to convey the same to the end users.
Insurance expert Dale S Beach defined training as “the organized procedure by which the
employees learn knowledge and skills for a definite purpose.” The organization has to conduct
training programs to educate the staff about the various products available, to improve their
communication skills, and to equip them to handle different types of customers.
Liberalization and privatization of the insurance sector have resulted in a competitive market.
Insurance companies require smart and skilled personnel to compete with their rivals in the
market. The companies should impart necessary knowledge and skills to the employees by
conducting training programs, seminars, conferences, and workshops. The HDFC Standard Life
Insurance Company imparts knowledge on insurance and other related business process through
Management Trainees Program. The Oriental Staff Training College ( OSTC ) is the training
center for Oriental Insurance Company.
As a part of on-the-job training, companies are tying with training institutions to upgrade the
employee knowledge on the latest technology and novel techniques in the industry to improve
their performance. Strong academia-industry partnerships are also witnessed. United India
Insurance Company in partnership with Dr. Ambedkar Law University in Tamil Nadu provides a
post graduate diploma course in general insurance law and practice. A survey reveals that the
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training sensitivity among the private insurers stands at 3 on the scale of 0 to 5, where 0
represents not sensitive and 5 represents highly sensitive.
A study of the Indian insurance sector by McKinsey & Co., the global consultancy firm, says a
mere 25-30% of the life insurance agents have the acceptable level of training and sales
standards set by their companies. The study further says there is not much to differentiate
between those advisors who have spent more than two years in a company and new recruits
without any sales experience. Definitely, this is a sad reflection on the quality of training
imparted to the agents!!!!
The focus of the training during the last decade has shifted from „training for survival‟ to
„training for successes. Training, therefore, has to serve as a vehicle for change. To satisfy the
curiosity of agents, the faculty members will have to become real coaches and not mere
cheerleaders. The training system has to develop wings to fly towards greater heights. All this is
possible only when the organizations evaluate the effectiveness of the existing training programs
on performance improvement of the employees and thereafter make suitable changes in the
training policy to bridge the performance gaps in the employees.
TRAINING DEFINED
1. Prof. C.B Mamoria defined training as “a process of learning a sequence of programmed
behaviour. It is an application of knowledge”.
2. According to Prof. Milkovich and Prof. Boudreau, “Training is a systematic process of
changing the behaviour, knowledge, and/or motivation of present employees to improve the
match between employee characteristics and employment requirement”.
3. Edwin B. Flippo defines training as “the act of increasing the knowledge & skills of an
employee for doing a particular job.”
MEANING OF THE DEFINITIONS
It is a learning process that involves the acquisition of knowledge, sharpening of skills,
concepts, rules, or changing of attitudes and behaviours to enhance the performance of
employees.
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Training is activity leading to skilled behaviour; It‟s not what you want in life, but it‟s
knowing how to reach it; It‟s not where you want to go, but it‟s knowing how to get there;
It‟s not how high you want to rise, but it‟s knowing how to take off .
Training involves the development of skills that are usually necessary to perform a specific
job.
Its purpose is to achieve a long term change in the behaviour of those trained and enable
them to do their jobs better.
Training makes newly appointed workers fully productive in the minimum time limit.
Advantages of training-:
• Increases production
• Improves quality
• Improves confidence & morale of employee
• Encourages personal growth & development
• Improves organizational climate
• Prevents obsolesce
• Help the organisation for precise planning
• Enables organisation to take feedback
BASIC TERMS AND DEFINITIONS
Information
At its most basic form, a piece of information about something is a "unit of awareness" about
that thing. (A field of philosophy, epistemology, includes analysis of what is really information
and what isn't. This field might visit the question: "If a tree falls in the forest, does it make a
sound?") Some people think that this awareness occurs only in the brain and, therefore, usually
comes from some form of thought. Other people also accept information as a form of realization
from other forms of inquiry, e.g., intuition.
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Knowledge
Knowledge is gleaned by organizing information. Typically, information evolves to knowledge
by the learner's gaining context, perspective and scope about the information.
Skills
Skills are applying knowledge in an effective and efficient manner to get something done. One
notices skills in an employee by their behaviors.
Task
A task is a typically defined as a unit of work, that is, a set of activities needed to produce some
result, e.g., vacuuming a carpet, writing a memo, sorting the mail, etc. Complex positions in the
organization may include a large number of tasks, which are sometimes referred to as functions.
Job
A job is a collection of tasks and responsibilities that an employee is responsible to conduct. Jobs
have titles.
Role
A role is the set of responsibilities or expected results associated with a job. A job usually
includes several roles.
Learning
Typically, learning is viewed as enhancing one's knowledge, understanding or skills. Some
people see learning as enhancement to one's knowledge, awareness and skills. Some
professionals view learning as enhancing one's capacity to perform. Some view learning as a way
of being that includes strong value on receiving feedback and increasing understanding. It's
important to note that learning is more than collecting information -- more than collecting
unreferenced books on a shelf. Depending on the needs of the learner, knowledge is converted to
skills, that is, the learner knows how to apply the knowledge to get something done. Ideally, theskills are applied to the most appropriate tasks and practices in the organization, thereby
producing performance -- results needed by the organization. Here's another perspective.
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Continuous Learning
Simply put, continuous learning is the ability to learn to learn. Learning need not be a linear
event where a learner goes to a formal learning program, gains areas of knowledge and skills
about a process, and then the learning ceases. If the learner can view life (including work) as a
"learning program", then the learner can continue to learn from almost everything in life. As a
result, the learner continues to expand his or her capacity for living, including working. (See
Continuous Learning.)
Education
This term seems to be the most general of the key terms in employee training. Some
professionals view education as accomplishing a personal context and understanding of the
world, so that one's life and work are substantially enhanced, e.g., "Go get an education." Others
view the term as the learning required to accomplish a new task or job. Here's another
perspective.
TRAINING NEEDS IN AN ORGANISATION ARISE DUE TO
1. Increased use of technology in production
2. When there is requirement of extra / additional employees due to increase in production or
services.
3. To reduce grievances & decrease accident rate
4. Raise morale of employees
5. To update both, old & new employees about latest tools & equipment & handling them with
ease.
6. To increase chances of employment of inexperienced, new & badali workers
7. To make employee‟s performance more efficient & effective, same time saving learning
time, reduce supervision; reduce waste & spoilage of raw material.
8. To produce quality goods & to satisfy customers.
9. Develop employee‟s personal ability & capacity by introducing new, latest & advance
knowledge.
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THE TRAINING PROCESS
„Training‟ refers to the various methods used to give new or present employees the information
or knowledge, the skills, and their proper application needed to perform their jobs effectively and
efficiently; whereas „Process‟ means a series of actions or motions to achieve particular goals.
When we consider training process as a topic, we have to consider various actions, steps required
to be taken for imparting training to the concerned individuals.
Steps of the Training Process:
1. Identification of training needs
2. Deciding the objectives of training
3. Designing of the training programs
4. Selection of the trainees or participants who have to be given training
5. Selection of the trainers who will be conducting the training programs
6. Selection of training methods and tools
7. Administration and implementation of training programs
8. Evaluation of training programs
The ultimate aim of any training program is to achieve:
- Continuous Improvement
- Change-in-Attitude
- Cost Saving
- Total Productivity
- Scope for development
When organization has invested in some training, how do we know if it has a success? Our gut
feeling might be that skills and practice have improved. But, in what ways and by how much has
it improved, and did the organization get the value of money? Answers to these questions can be
found by doing evaluation.
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The evaluation of training forms the remaining part of the training cycle, which starts with the
identification of training needs, establishing objectives and continues through to the design and
delivery of the training course itself.
It is the function of evaluation to assess whether the learning objectives originally identified have
been satisfied and any deficiency rectified. It is part of a continuing management process
consisting of planning, implementation, and evaluation, ideally with each following the other in a
continuous cycle until successful completion of the activity.
The evaluation process must start before the training has begun and must continue throughout the
whole learning process.
METHODS/TECHNIQUES OF TRAINING
Training methods are useful for attaining desired objectives in a learning situation. Every method
has certain structured procedures for conducting it, which offers definite advantage in developing
certain qualities in an employee; however they have certain limitations too. Therefore, while
adopting a particular method, one has to take into consideration its strengths and weaknesses.
Following are the methods of training, which can be classified into two categories
1. ON THE JOB METHOD:
a) COACHING
Coaching is also known as Apprenticeship method/Internship method or the Understudy method.
Here a trainer or a coach trains one or two trainees, and assigns them tasks. He monitors their
behaviour and also provides re-enforcement and feedback. This is a time consuming process and
an expensive one too. Effectiveness depends upon the coach‟s abilities and skills.
b) JOB INSTRUCTION TRAINING
In this method, the trainees learn their job by watching, observing and leaning under the watchful
eye of master craftsmen and mechanics. Trainees are coached, instructed and trained by skilled
co-workers, supervisors, and special trainers.
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c) JOB ROTATION
This is a frequently used method. Here, the management and the trainees are made to move from
one job to another at certain intervals. Jobs vary in content. The main purpose here is to widen
the knowledge and exposure of the trainees/ the trainees end up gathering more experiences
concerning skills and knowledge.
d) MULTIPLE MANAGEMENT METHODS
This method is also known as Participation in deliberations of the Junior Board and Committees.
In this method, the junior managers or employees get an opportunity to participate in the actual
problems of the organisation along with the advisory board. The method is relatively inexpensive
and helps to identify members, who have the skills, abilities, and capabilities to be effective
managers.
2. OFF THE JOB METHODS:
a) LECTURE METHOD
It is one of the oldest methods of training. This method is used to create understanding of a topic
or to influence behavior, attitudes through lecture. A lecture can be in printed or oral
form. Lecture is telling someone about something. Lecture is given to enhance the knowledge of
listener or to give him the theoretical aspect of a topic. Training is basically incomplete without
lecture. When the trainer begins the training session by telling the aim, goal, agenda, processes,
or methods that will be used in training that means the trainer is using the lecture method. It is
difficult to imagine training without lecture format. There are some variations in Lecture method.
The variation here means that some forms of lectures are interactive while some are not.
b) CASE STUDY METHOD
Case study method presents a trainee with a written description of an organisational problem.
The person then analyzes the case, diagnoses the problem and presents his or her findings and
solutions in discussion with other trainees.
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c) MANAGEMENT GAMES
With management games trainees are dividend in to give or six persons group, each of which
competes with the others in a stimulated marketplace. Management games can be good
development tools. People learn best by getting involved, and the games can be useful forgaining such involvement. They help trainee develop their problem solving skills, as well as to
focus attention on planning rather than just putting out fires. The group also usually elects their
own officers and organize themselves; they can thus develop leadership skills and faster
cooperation and team work.
Some of the benefits of the business games are:
It develops leadership skills
It improves application of total quality principles
It develops skills in using quality tools
It strengthen management skills
It demonstrates principles and concepts
It explores and solves complex problem
d) ROLE PLAYING
The aim of role playing is to create a realistic situation and then have the trainees assume the roleof specific persons in that situation. When combined with the general instruction and other roles
for the exercise, role playing can trigger spirited discussions among the role player trainees. The
aim is to develop trainee‟s skills in areas like leadership and delegation.
e) BEHAVIOUR MODELLING
Behavior Modeling uses the innate inclination for people to observe others to discover how to do
something new. It is more often used in combination with some other techniques.
Procedure of Behavior Modeling Technique:
In this method, some kind of process or behavior is videotaped and then is watched by the
trainees. Games and simulation section is also included because once the trainees see the
videotape, they practice the behavior through role plays or other kind of simulation techniques.
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The trainee first observes the behavior modeled in the video and then reproduces the behavior on
the job.
The skills that are required to build up are defined
A brief overview of the theory is then provided to the trainers
Then, trainees are given instructions that what specific learning points or critical behavior
they have to watch
Then the expert is used to model the suitable behaviors
Then, the trainees are encouraged to practice the suitable behavior in a role play or through
any other method of simulation
Trainees are then provided with some opportunities to give reinforcement for appropriate
imitation of the model‟s behavior . In the end, trainer ensures that trainees appropriately
reinforces the behavior on the work place
f) EQUIPMENT SIMULATORS
Equipment simulators are the mechanical devices that necessitate trainees to use some actions,
plans, measures, trials, movements, or decision processes they would use with equipment back
on the their respective work place.
It is imperative that the simulators be designed to repeat, as closely as possible, the physical
aspects of equipment and operational surroundings trainees will find at their work place. This is
also called as physical fidelity of the simulation.
Besides that, the mental conditions under which the equipment is operated such as, increasing
demands, pressure of time, and relationship with colleagues, subordinates, etc must also be
closely matched to what the trainees experience on the work place.
The literature on socio-technical approaches to organizational development provides guidelines
for the design or redesign of tools. Human Resource professionals involved in propose of
simulators and their pre-testing should engage those who will be using the equipment and their
supervisors. Their input can help in reducing the potential resistance, errors in the equipment and
more importantly, it also increases the degree of reliability between the simulation and the work
setting. Equipment simulators can be used in giving training to:
Air Traffic Controllers
Taxi Drivers
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Telephone Operators
Ship Navigators
Maintenance Workers
Product Development Engineers
Airline Pilots
Military Officers
g) IN BASKET TECHNIQUE
It provides trainees with a log of written text or information and requests, such as memos,
messages, and reports, which would be handled by managers, engineers, reporting officers,
or administrators.
Procedure of the In- basket Technique
In this technique, trainee is given some information about the role to be played such as,
description, responsibilities, general context about the role.
The trainee is then given the log of materials that make up the in-basket and asked to respond
to materials within a particular time period.
After all the trainees complete in-basket, a discussion with the trainer takes place.
In this discussion the trainee describes the justification for the decisions.
The trainer then provides feedback, reinforcing decisions made suitably or encouraging the
trainee to increase alternatives for those made unsuitably. A variation on the technique is to
run multiple, simultaneous in baskets in which each trainee receives a different but organized
set of information. It is important that trainees must communicate with each other to
accumulate the entire information required to make a suitable decision.
This technique focuses on:
Building decision making skills
Assess and develops Knowledge, Skills and Attitudes (KSAs)
Develops of communication and interpersonal skills
Develops procedural knowledge
Develops strategic knowledge
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h) PROGRAMMED INSTRUCTIONS
Programmed instruction is a Computer-based training that comprises of graphics, multimedia,
text that is connected to one another and is stored in memory.
Programmed instruction is the procedure of guiding the participants strategically through the
information in a way that facilitates the most effective and efficient learning. It provides the
participant with content, information, asks questions, and based on the answer goes to the next
level of information i.e. if the trainee gives the correct answer; one branch moves the trainee
forward to the new information. And if the trainee gives the wrong answer then different branch
is activated, taking the trainee back to the review relevant information in more elaborate manner.
This method allows the trainees to go through the content according to the individual speed, and
capability. Those trainees, who respond better, move through the content rapidly. This method
uses a lecturer to provide the learners with context that is supported, elaborated, explains, or
expanded on through interactions both among the trainees and between the trainer and the
trainees. The interaction and the communication between these two make it much more effective
and powerful than the lecture method. If the Discussion method is used with proper sequence i.e.
lectures, followed by discussion and questioning, can achieve higher level knowledge objectives,
such as problem solving and principle learning.
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ASSESSING THE EFFECTIVENESS OF TRAINING PROGRAMS
Donald Kirkpatrick developed four level models to assess training effectiveness. According to
him, evaluation should always begin with the first level and move through other levels in
sequence.
Reaction Level: The purpose is to measure the individual‟s reaction to the trai ning activity.
The benefit of Reaction level evaluation is to improve Training and Development activity
efficiency and effectiveness.
Learning Level: The basic purpose is to measure the learning transfer achieved by the
training and development activity. Another purpose is to determine to what extent the
individuals have increased their knowledge, skills and changed their attitudes by applying
quantitative or qualitative assessment methods.
Behavior Level: The basic purpose is to measure changes in behavior of the individual, as a
result of the training and development activity and how well the enhancement of knowledge,
skills and attitudes has prepared them for their role.
Result Level: The purpose is to measure the contribution of training and development to the
achievement of the business/operational goals.
There are three possible opportunities to undertake an evaluation:Pre Training Evaluation: it is a method of judging the worth of a program before the program
activities begin. The objective of this evaluation is
(a) To determine the appropriateness of the context of training activity and
(b) To help in defining relevant training objectives.
Context and Input Evaluation: it is a method of judging the worth of a program while the
program activities are happening. The objectives of this evaluation are
(a) To assess a training course or workshop as it progress
(b) To find out the extent of program implementation and
(c) To determine improvement and adjustments needed to attain the training objectives.
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Post Training Evaluation: is method of judging the worth of a program at the end of the
program activities. The focus is on the outcome. It tries to judge whether the transfer of training
to the job has taken place or not.
The onus to decide on the effectiveness of the training program, should primarily be on the
employee and through his performance and quality of output, the organization should form
impressions. The employee undergoing training therefore should demonstrate the additional
skills and competence at his workplace to enable the organization to value it and to realize the
value such efforts add to the organization in achieving its goals and objectives and to frame and
practice relevant HR policies and processes.
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TRAINING TECHNIQUES USED BY ICICI PRUDENTIAL
CLASSROOM METHOD
The value of a live, instructor-led training experience is undeniable. If the instructor is a
competent teacher who knows how to engage adult students so that they understand and retain
the material, live classroom training offers the most bangs for your training buck.A classroom
enables a learner to experience support from peers and instructors. This gives a sense of
encouragement and belonging to the student, allowing more time to learn things properly.
Classroom learning can also allow for more time. The learning process in some people takes
quite a bit of time, so a classroom setting is ideal for the patience and environment required. The
fact of the matter is that many people simply learn better in a classroom setting. Some people
thrive on the conversation of a topic with other people, which is something they feel
uncomfortable with in an online situation. The classroom setting allows for real time discussion
and provides interaction that isn‟t easily duplicated even with the most advanced of technology.
With classroom training, employees are around other workers and are learning the same material.
This allows for constructive team building, as people are joining together to work out basic
problems and find solutions as a group. This, coupled with the individualized sense of theory,
helps create a strong team within the staff. If the classroom theory allows for learning in small
groups, the sense of cooperation is reinforced significantly.
Many people also learn better in a one-on-one instruction session. Classroom training allows for
an individualized approach that cannot easily be duplicated in an online setting. Instructors can
answer questions and provide hands-on answers that should satisfy most curiosities. This allows
the students to learn readily and to effectively engage all of their senses with the material.
But it‟s difficult to give workers time out of the office and the price of petrol will probably never
drop below again. If you need highly specialized training, there may not be a training facility
anywhere near you that can meet your needs Classroom training is still the most effective
because of the live, dynamic interactions between the students and the instructor.
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ONLINE TRAINING
Businesses need to train and develop their employees regularly as it will help improve employee
work performance, provide them with skills necessary to deal with changing technologies, and
equip them adequately to perform their duties and helping the company achieve its goals. This
has become a problem though for many small businesses as they have to work on a small budget,
cannot afford to have the employees away from work for several days to gather as work could
come to a standstill. This is when online training programs come in handy.
Advantages of Online Training for Employees:
Providing online training for employees will greatly benefit those companies that cannot afford
to have employees away from work for long durations. Online training can be given to just one
or to a group of employees with relative ease and with minimum wastage of time and energy.
The employees can learn on the job spending a few hours each day whenever it is convenient for
them, from their workstations, which greatly helps small businesses by being economical as well
as providing tailor made materials for the company. The company looks out for online training
material providers to provide a content rich course material to be distributed internally, courses
designed to teach individuals qualities they need training in such as leadership, or they seek help
to develop and offer courses themselves. Training helps motivate the employees, making them
adept at handling any situation, as well as improves work quality.
Online training for employees is also preferred by large corporations with offices and employees
at different continents, since training for a large group of employees at different locations can be
done easily with their workstations. These methods are effective as information is just a click
away and courses are offered through emails, interactive websites as well as CDs etc.
Online training for employees ensures that companies get to train their employees fast and make
them learn skills necessary for optimum performance at their convenience. When companies
sponsor the training, employee moral gets a boost as well as increases the motivation to complete
the training successfully. Performance management systems guide the company as well as the
employee in choosing the right training necessary for each individual employee. Online training
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has made it possible for employees to further their qualifications by enrolling in online
universities as well as continue their present jobs; mostly the company sponsors their training.
The ease of locating training institutes, offering specific content rich course materials and easy
schedules, has made providing online training for employees easy and beneficial for businesses
as well as for the employees.
There are firms that specialize in offering their services and products to help new owners run a
business successfully and smoothly.
The 6 Types of Online Training
Web pages with text information for learning courseware instead of a printed book. The webpages contain explanatory material, step-by-step instructions, and screenshots.
EBook courseware, with explanatory material, step-by-step instructions, and screenshots.
Interactive learning with audio, video, and clickable elements onscreen like quizzes.
Screen casts, which are recorded video of onscreen actions in a software application, usually
with voice-over narration.
Webinars, which often consist of a shared group environment online for chat, audio, video, and
whiteboard. These can be participated in live when they run or watched as recordings after the
live event.
ILEs, which are Interactive Learning Environments. ILEs offer a comprehensive, learning
program that often incorporates all of the above methods. Whereas the above methods are often
paid for as individual products, ILEs are often purchased as a recurring membership. However,
there is a solution that offers the best of both worlds.
OPEN FORUMS
With the Internet easily accessible, and with computers in abundance from offices to libraries
and homes, naturally turning to the Internet as a tool for training is a wise choice. Allowing your
employees to learn in the comfort of their own home, or by learning at work through Internet
training programs allows each employee the freedom to work at his or her own pace. Thus
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saving you valuable resources for those employees that learn faster and allowing those that learn
slower the time to let the information "sink in." Let us look at the variety of training options
available through the Internet, and see how the programs offered can benefit your organization.
Online Course(s)
Many learning centres offer courses available online to teach certain skills in a variety of fields.
For instance, the University of Phoenix happens to be a school that offers college courses online
for credit or simple certifications that can be obtained. By asking your employees to take
advantage of becoming certified in certain areas you are adding the protection and prestige to
your organization by boasting "certified" technicians. Prices for these courses vary and are often
reimbursed to you the employer tenfold with a well-trained employee to show for it.
Online Seminar(s)
Depending on your filed of expertise there are often companies that sublet trainers to train your
employees via an online platform. Costs can vary based on your specific needs so keep in mind
to inquire about costs prior to enrolling anyone in the seminar. Sometimes taking advantage of
these trainers is in your best interest should you have a basic approach to how to train your
employees. On the other hand, if your field is not as general or broad as some other fields you
may find it hard to find a seminar that fits in with what you are trying to train. If you are
attempting to train customer service skills, a seminar of this sort should be easy to come by, have
your employees enroll in the seminar and you should be all set. However if you are looking for a
seminar on how to change oil in a Volvo you may find this seminar much harder to come by.
Although with the Internet being worldwide and the categories and subjects available to you
online nothing is impossible.
Online Forums or Discussion Boards
Creating a small webpage (or large webpage) and adding a forum where employees can ask
questions anonymously may benefit your company as well. Incorporating a facts and questions
(FAQ) section may also help, while you're at it include an area where potential customers can
ask questions and you have created not only a good training method but also a new advertising
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avenue. Implementing an open forum, where questions can be asked and answered by employees
helps solidify the training process and saves time and money because there is no need to hire
additional trainers, your. Offering incentives to employees who to take a on a tutoring or training
type role in your dedicated online discussion area may also help boost employee morale and
involvement.
Online demonstrations
With programs that make video conferencing readily available it is not hard to hold your own
training seminars, lectures, question and answer sessions, or demonstrations for others. Programs
such as Skype offer video conferencing where you can see each other in a "face to face" meeting,
or conversation and can address questions or concerns. Demonstrations are also an added bonus
because showing something to someone while explaining it helps the employee retain more of
the lesson provided.
Whatever you goal is when training your future employees keep in mind that to train is to teach,
it is important to find a training method that works for you as well as your employees. Always
make yourself available for questions and make sure you provide feedback on a regular basis,
this give the employee the sense that they are in fact "getting the hang of things" or that certain
areas need improvement. Learning is all about retaining information, and drawing on theinformation one retains to use in daily activities, in essence the best training techniques are hands
on experience, as repetition tends to solidify the learning process.
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RESEARCH METHODOLOGY
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RESEARCH METHODOLOGY
WHAT IS RESEARCH?
Research is a logical and systematic search for new and useful information on a particular
topic. It is an investigation of finding solutions to scientific and social problems through
objective and systematic analysis. It is a search for knowledge, that is, a discovery of hidden
truths. Here knowledge means information about matters. The information might be collected
from diff erent sources like experience, human beings, books, journals, nature, etc. A research can
lead to new contributions to the existing knowledge. Only through research is it possible to make
progress in a field. Research is done with the help of study, experiment, observation, analysis,
comparison and reasoning. Research is in fact ubiquitous. For example, we know that cigarettesmoking is injurious to health; heroine is addictive; cow dung is a useful source of biogas;
malaria is due to the virus protozoan plasmodium; AIDS (Acquired Immuno Deficiency
Syndrome) is due to the virus HIV (Human Immuno deficiency Virus).How did we know all
these? We became aware of all this information only through research. More precisely, it seeks
predictions of events and explanations, relation-ships and theories for them.
Importance of Research
Research is important both in scientific and non-scientific fields. In our life new problems,
events, phenomena and processes occur every day. Practically implementable solutions and
suggestions are required for tack-ling new problems that arise. Scientists have to under-take
research on them and find their causes, solutions, explanations and applications. Precisely,
research assists us to understand nature and natural phenomena.
Some important avenues for research are:
1. A research problem refers to a difficulty which a re-searcher or a scientific community or an
industry or a government organization or a society experiences. It may be a theoretical or a
practical situation. It calls for a thorough understanding and possible solution.
2. Research on existing theories and concepts help us identify the range and applications of
them.
3. It is the fountain of knowledge and provides guidelines for solving problems.
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4. Research provides basis for many government policies. For example, research on the needs
and desires of the people and on the availability of revenues to meet the needs helps a
government to prepare a budget.
5. It is important in industry and business for higher gain and productivity and to improve the
quality of products.
6. Mathematical and logical research on business and industry optimizes the problems in them.
7. It leads to identification and characterization of new materials, new living things, new stars,
etc.
8. Only through research can inventions be made; for example, new and novel phenomena and
processes such as super conductivity and cloning have been discovered only through
research.
9. Social research helps find answers to social problems. They explain social phenomena and
seek solution to social problems.
10. Research leads to a new style of life and makes itdelightful and glorious
What are the Objectives of Research?
The prime objectives of research are:
To discover new facts
To verify and test important fact
To analyse an event or process or phenomenon
To identify the cause and eff ect relationship
To develop new scientific tools, concepts and theories to solve and understand scientific and
non-scientific problems
To find solutions to scientific, non-scientific and social problems and
To overcome or solve the problems occurring in our everyday life.
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What Makes People do Research?
This is a fundamentally important question. No person would like to do research unless there are
some motivating factors. Some of the motivations are the following:
To get a research degree (Doctor of Philosophy (Ph.D.)) along with its benefits like better
employment, promotion, increment in salary, etc.
To get a research degree and then to get a teaching position in a college or university or
become a scientist in a research institution
To get a research position in countries like U.S.A., Canada, Germany, England, Japan,
Australia, etc. and settle there
To solve the unsolved and challenging problems
To get joy of doing some creative work
To acquire respectability
To get recognition
Curiosity to find out the unknown facts of an event
Curiosity to find new things
To serve the society by solving social problems.
Some students undertake research without any aim possibly because of not being able to
think of anything else to do. Such students can also become good researchers by motivating
themselves toward a respectable goal.
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THE RESEARCH PLAN
DEFINE RESEARCH PROBLEM
REVIEW OF CONCEPTS AND RESEARCH THEORIES
RESEARCH DESIGNS
(INCLUDING SAMPLE DESIGN)
COLLLECTION OF DATA
(INCLUDING SAMPLE DESIGN)
ANALYSIS AND INTERPRETATION OF DATA USING
STATISTICAL TOOLS
FINDINGS
SUGGESTIONS
CONCLUSION
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OBJECTIVES
The primary objective of the study is to analyze the effectiveness of training programs conducted
for advisors in terms of their performance with special emphasis on ICICI Prudential. The scope
of the study encompasses –
1. To understand the objectives of the training programs of insurance companies.
2. To study the content and methodology of ICICI Prudential‟s training programs for advisors.
3. To analyze trainees feedback on the training programs
4. To recommend feasible improvements in the training programs conducted by ICICI
Prudential for advisors
SOURCES OF DATA COLLECTION
The relevant data was collected from both primary sources and secondary sources. The starting
point of my information gathering has been the secondary sources such as internet, books, and
journals and so on.
First, I made a study of the training objectives of the insurance companies to train its personnel
through secondary sources such as internet, insurance magazines, and journals and so on. Then I
gathered information about the training programs conducted for advisors by ICICI Prudential by
interacting with some of the advisors already working for the company.
Primary data
In primary data collection, you collect the data yourself using methods such as interviews and
questionnaires. The key point here is that the data you collect is unique to you and your research and,
until you publish, no one else has access to it.
There are many methods of collecting primary data and the main methods include:
Questionnaires
Interviews
Focus group interviews
Observation
Case studies
Diaries
Critical incidents
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Portfolios
The primary data, which is generated by the above methods, may be qualitative in nature
(usually in the form of words) or quantitative (usually in the form of numbers or where you can
make counts of words used).The main sources used by me are Questionnaires and Interviews.
QUESTIONNAIRE
Questionnaires are a popular means of collecting data, but are difficult to design and often
require many rewrites before an acceptable questionnaire is produced.
Advantages:
It can be used as a method in its own right or as a basis for interviewing or a telephone
survey.
It can be posted, e-mailed, or faxed.
It can cover a large number of people or organizations.
There is a wide geographic coverage.
It is relatively cheap.
No prior arrangements are required
It avoids embarrassment on the part of the respondent.
Respondent can consider responses.
There is possible anonymity of respondent.
There is no interviewer bias.
Disadvantages:
Designing them is a problem.
Questions have to be relatively simple.
Historically low response rate (although inducements may help).
Time delay whilst waiting for responses to be returned.
Require a return deadline.
Several reminders may be required.
It assumes no literacy problems.
No control over who completes it.
It is not possible to give assistance if required.
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There could be problems with incomplete questionnaires.
Replies are not spontaneous and independent of each other.
Respondent can read all questions beforehand and then decide whether to complete or not.
For example, perhaps because it is too long, too complex, uninteresting, or too personal.
INTERVIEW
Interviewing is a technique that is primarily used to gain an understanding of the underlying
reasons and motivations for people‟s attitudes, preferences or behaviour. Interviews can be
undertaken on a personal one-to-one basis or in a group. They can be conducted at work, at
home, in the street or in a shopping centre, or some other agreed location.
Personal interview
It is a face-to-face interaction between an interviewer and an interviewee. There could be more
than one interviewer.
Advantages:
A serious approach is taken by the respondent resulting in accurate information.
There is a good response rate.
It is completed and immediate.
There are possible in-depth questions.
The interviewer is in control and can give help if there is a problem.
It can investigate motives and feelings.
Recording equipment can be used.
Characteristics of respondents can be assessed – tone of voice, facial expression, hesitation,
etc.
Props can be used.
If one interviewer is used, there is uniformity of approach.
This method is used to pilot other methods.
Disadvantages:
Need to set up interviews.
It is time consuming.
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There are geographic limitations.
It can be expensive.
Normally needs a set of questions.
There is respondent bias – tendency to please or impress, create false personal image, or end
interview quickly.
Embarrassment may take place if personal questions are asked.
Transcription and analysis can present problems – subjectivity.
If many interviewers take the interview, training required.
Secondary data
All methods of data collection can supply quantitative data (numbers, statistics or financial) or
qualitative data (usually words or text). Quantitative data may often be presented in tabular or
graphical form.. For example, this could mean using:
data collected by a hotel on its customers through its guest history system, data supplied by a
marketing organisation, annual company reports, government statistics.
Secondary data can be used in different ways:
You can do something with the data. If you use it (analyse it or re-interpret it) for a different
purpose to the original then the most likely place would be in the „Analysis of findings‟ section
of your dissertation.
Most research requires the collection of primary data (data that you collect at first hand), and this
is what students concentrate on. Unfortunately, many dissertations do not include secondary data
in their findings section although it is perfectly acceptable to do so, providing you have analyzed
it. It is always a good idea to use data collected by someone else if it exists – it may be on a
much larger scale than you could hope to collect and could contribute to your findings
considerably.
Sources can be classified as:
Paper-based sources – books, journals, periodicals, abstracts, indexes, directories, research
reports, conference papers, market reports, annual reports, internal records of organisations,
newspapers and magazines
Electronic sources – CD-ROMs, on-line databases, Internet, videos and broadcasts.
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The main sources of qualitative and quantitative secondary data include the following:
Official or government sources.
Unofficial or general business sources.
It lists references to the following types of sources:
Trade associations
Trade and other journals
Private research publishers
Stock broking firms
Large company market reports
Local authorities
Advantages
It is highly convenient to use.
It saves finances
It saves time
Secondary data is data that has already been collected by someone else for a different
purpose to yours.
You can simply report the data in its original format. If so, then it is most likely that the place
for this data will be in your main introduction or literature review as support or evidence for
your argument.
Disadvantages
Degree of accuracy is not as high as primary data.
It is difficult to find secondary data which are sufficiently accurate
It is difficult to find secondary data which exactly fit the need of present investigation.
There are many sources of data and most people tend to underestimate the number of sources
and the amount of data within each of these sources.
As secondary data has been collected for a different purpose to yours, you should treat it
with care.
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SAMPLING TECHNIQUE USED
I have used the Simple random sampling technique. It is a technique, in which every unit of
population has equal and known chance of being included in the sample. It is free from sampling
bias. It is a scientific method, is economical, uses theory of probability and insures accuracy. A
few demerits could be it is costly, unsuitable for heterogeneous population, requires large
samples etc.
Population refers to the collection of all items about which the researcher wants to study some
characteristics. It may also be called a universe.
A sample of 30 advisors is selected for the study, using simple random sampling technique. The
focus of study was on advisors who were trained in the recent past. So, the sample was drawn
from among the advisors who were working for ICICI Prudential since last 1 – 2 months.
Primary Data Collection
Data was collected through an interview schedule and a questionnaire, consisting of both open
ended and closed ended questions. The schedule covered parameters like training methodology,
trainer feedback, overall effectiveness of training program, relevance of training program etc.
Most of the times, they were found to be in the field searching for prospective customers.
Secondary data collection
The secondary sources include company‟s website, books, journals, insurance magazines, HR
reviews, articles on internet etc.
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DATA ANALYSIS AND
INTERPRETATION
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DATA ANALYSIS AND DATA INTERPRETATION
1. GRAPH WITH RELEVANCE TO THE INFORMATION PROVIDED TO THE
PARTICIPANTS
CATEGORY EMPLOYEES
MAIL FROM TRAINING
DEPT.
0
THROUGH THE
SUPERVISORS
0
BOTH 30
As far as informing the trainees about the Training Programs are concerned, 100% or all theparticipants said that they were informed through their superiors as well as through mails from
the Training department.
0
5
10
15
20
25
30
mail from the
training
department
through the
supervisors
both
information regarding training
information regarding training
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2. FEEDBACK ON SUBJECTS TAKEN UP FOR TRAINING
CATEGORY EMPLOYEES
YES 25
SOMETIMES 5
NOT REALLY 0
When we talk about the liking of the subjects that are taken up for Training, most of the
participants that is about 83.3% said yes, and 16.7% said sometimes. There was no scope for not
liking the subject at all.
0
5
10
15
20
25
yes sometimes not really
LIKING OF THE SUBJECTS
LIKING OF THE SUBJECTS
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3. HOW HELPFUL HAS YOUR TRAINING BEEN IN THE WORKPLACE?
The response to helpfulness of Training was that 90% of the participants said Very Effective and
10% said somewhat effective. There was not a single employee, who said that Training does not
help at all.
0
5
10
15
20
25
30
very effective somewhat
effective
nothing much
has training helped in the workplace
has training helped in the
workplace
CATEGORY EMPLOYEES
VERY EFFECTIVE 27
SOMEWHAT EFFECTIVE 3
NOTHING MUCH 0
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4. DOES YOUR TRAINING GENERALLY HAVE A DIRECT RELATIONSHIP WITH
YOUR JOB?
CATEGORY EMPLOYEES
ALWAYS 25
MOST OF THE TIME 3
SOMETIMES 2
As far as training having a direct relationship with the job of the employees is concerned, about
83.33% of the participants said Always
10% said Most of the time, and
6.67% said Sometimes.
0
5
10
15
20
25
always most of the time sometimes
direct relationship o training with job
direct relationship o training
with job
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5. DO YOU THINK YOUR TRAINING HAS BEEN EFFECTIVE IN ENHANCING
YOUR PERFORMANCE?
About 76.7% of the participants said Totally and 23% said To some extent as far as Training
being effective in enhancing their performance is concerned. None of the participants said that
Training does not enhance their performance.
0
5
10
15
20
25
totally to some extent not at all
effectiveness of training in enhancing your
performance
effectiveness of training in
enhancing your performance
CATEGORY EMPLOYEES
TOTALLY 23
TO SOME
EXTENT
7
NOT AT ALL 0
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6. WHICH AREA, IN YOUR OPINION, SHOULD BE FOCUSED MORE IN
TRAINING?
CATEGORY EMPLOYEES
TECHNICAL 6
BEHAVIOURAL 10
KNOWLEDGE
ENHANCEMENT
14
When talking about the Key Focus Areas in Training, about 20% of the participants opted for
Technical Training, 33.3% opted for Behavioural Training, and 46.7% opted for Knowledge
Enhancement Training.
0
2
4
6
8
10
12
14
technical behavioural knowledge
enhancement
key focus area
key focus area
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7. WHERE ARE THE TRAINING PROGRAMS HELD?
When asked about where the Training Programs are held, the participant‟s response was 100%
for both the training facilities: Training rooms as well as Outdoor locations.
0
5
10
15
20
25
30
training rooms outdoor
locations
both
training programs are held in …
training programs are held in …
CATEGORY EMPLOYEES
TRAINING ROOMS 0
OUTDOOR LOCATIONS 0
BOTH 30
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8. ARE YOUR TRAINING DEPT. PEOPLE PRESENT IN THE TRAINING
PROGRAMS?
CATEGORY EMPLOYEES
ALWAYS 30
SOMETIMES 0
NEVER 0
It was quite impressive to find that the Training Coordinators are present all the times. This was
agreed upon by all the participants. So we can say it was a 100%.
0
5
10
15
20
25
30
always sometimes never
presence of the training dept. people
presence of the training dept.
people
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9. WHAT ARE YOUR CONCERN AREAS ABOUT THE TRAINING PROGRAMS
BEING CONDUCTED IN THE ORGANISATION?
Response to the question was:
The frequency of training should increase. They are interested in having more sessions of
training.
Also, they feel that the number of Trainers conducting the Training programs should be
multiplied. This was agreed upon by the majority of the participants.
10. WHAT ARE YOUR SUTGGESTIONS FOR IMPROVING THE TRAINING
SESSIONS?
Response to the above question was:
The numbers of trainers who conduct the training sessions are a small number, therefore the
number of trainers should be increased.
The frequency of training should increase. They are interested in having more sessions of
training.
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OBSERVATIONS AND FINDINGS
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OBSERVATIONS AND FINDINGS
Observation MethodObservation is very significant and general technique to make new discoveries and to conduct
researches in the field of science. In the field of scientific knowledge and discovery the man
makes new discoveries and learns new facts through observation. Gradually the cumulative
observation leads to invention and manufacture of scientific apparatuses and aids, which
consequently magnifies manifold man‟s power of observation. But in social sciences observationretains its original connotation of being seeing things which naked eyes. Natural observation
occurs when behavior is observed as it is taking place in a normal setting. In natural observationno attempt is made to manipulate the field of study or behavior of the observed.
Definition:
Mrs. P. V. Young – “Observation is a systematic and deliberate study through the eye of spontaneous occurrences at
the time they occur. The purpose of observation is to perceive the nature and extents of significant inter- related elements within complex social phenomena, culture patterns or human
conduct.”
Features of observation:
Observation, an affair of eyes-Observation is done through the medium of eyes. The trainer puts his trust only in that which he
has seen with his own eyes, and only if a report is a first-hand evidence of the eyes can it merit to
be called “observation in the scientific sense of the term.”
Definite aim-Every scientific observation has a peculiar aim. The aim can be verification of hypothesis,
discovery of certain facts or the knowledge of casual relations inherit in a phenomenon.
Planning-Observation needs to be a well organized and systematic effort. In planning of an observation,
certain equipment and instruments are required.
Advantages:
SimplicityThe observation method is very simple and non technical and needs less training for becoming atrained observer.
More accuracy and reliability of data-The data collected under this method are more accurate and reliable because they are based on
first-hand perception by the eyes.
Direct and realistic study-Observation method is most direct means of studying a variety of phenomena which is based on
actual and firsthand experience.
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Utility in formulating and testing of hypothesis-Observation is the basis of formulating hypothesis in all social sciences.
Useful in the cases where verbal reports cannot be given-Studies may deal with subjects who are not capable of giving verbal reports of their behavior or
feelings for the simple reason that they cannot speak. Such studies depend on observation.
Disadvantages:
Certain things are non observable:There are many mental, notional, emotional, intellectual and sentimental factors which are in the
nature of things not perceivable and hence unobservable.
Subjective explanation:
The final result of observation depends upon the understanding of the observer. The observers
are liable to be carried away by unreal and extra ordinary descriptions.
Low reliability of conclusions
The conclusions based on observation are not very reliable because in observation it is necessaryto depend upon human tact and resourcefulness alone.
Inadequate-The full answer cannot be obtained by observation alone. It must be supplemented by other
methods of study.
Expensive-The method is very expensive being a long drawn process and at times requiring groupobservation. Moreover, for reaching the observer and establishing a rapport with them requires
more money and time.
OBSERVATION AND FINDINGSICICI Prudential, being No.1 private player in life insurance in the country with the largest
distribution network, has made efforts to update its training programs to keep pace with the fast
changing world. In a highly competitive market, such continuous efforts are necessary to be
ahead of competitors.
The major findings with respect to the training program for advisors conducted are –
The advisors have chosen career in insurance to earn additional income and have a quick
career growth.
The advisors have joined ICICI Prudential mostly through references.
The course content is all encompassing, i.e., it covers a study of all aspects of life insurance ,
an overview about economy and introduction to various products of the company and the
unique features of each.
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The training aids and handouts were found to be of high quality.
The conceptual knowledge and presentation skills of the trainers are rated to be excellent.
The training program is conducted at all the branches and the facilities provided were
considered more than satisfactory.
The advisors had a problem with the duration of the training program and the technical
language of the material.
.
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SUGGESTIONS
The focus of the study was on advisors who received entry level training in last one to two
months. Many were already employed in different areas and this career formed an additional
source of income for them. They are finding it difficult to manage time for both their regular
work and training classes. Hence, I feel that if possible, the duration of the training program
should be reduced or it should be imparted through distance mode.
The course structure and schedule were found to be unsatisfactory, they want more training
sessions. Also, I feel that the technical language used in the material should be simplified. This
would help them in explaining the products in simple language to the customers.
The suggestions that can be made to improve the training program for advisors are –
The duration of the training program could be reduced.
The training program should be conducted during weekends so that the advisors can
concentrate properly.
The number of Trainers conducting the sessions should also be increased along with the
training program frequency.
Besides in technical language, the concepts should be explained in simple language or
local language also which a layman can understand. This would help the advisors to
interact in a better way with the customers.
Knowledge about one‟s products and also that of the competitors should be provided
to the advisors so that they can handle customer queries well and develop good
selling skills.
The techniques to promote the brand awareness of ICICI Prudential should be included in the
course.
ICICI Prudential should concentrate more on the training programs conducted for the advisors.
For, they are the ones who not only sell the company‟s products but also create and maintain
brand image among the customers. Constant assessment of the advisor‟s skills in order to
upgrade them would go a long way in achieving success in this dynamic industry.
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CONCLUSION
It has been a great experience in conducting the survey on my project topic „A STUDY ON
THE EFFECTIVENESS OF TRAINING FOR ADVISORS IN THE INSURANCE
INDUSTRY WITH RESPECT TO ICICI PRUDENTIAL‟ , and has been a privilege to meet
such luminaries in the field of Human Resources.
I sincerely thank and extend my appreciation to the management of ICICI Prudential, Pune for
giving me their valuable time and insight into their well established organisation. I would also
like to thank them, for enlightening me about the various aspects of their organisation.
While coming to the conclusion of the project, I have learnt about the immense importance of
keeping the employees of an organisation updated and in sync with the rapidly growing industry,and the only way to do that is by training them. Training is a great responsibility, not only
because it helps in the improvement of the work of the employee, but also because it helps in
cost saving. So, we can say that the need for training is highlighted here, along with the various
techniques, which are used for training,
So, we can say that training is important in the field of Human Resource Management because it
helps to achieve
Continuous Improvement
Change-in-Attitude
Cost Saving
Total Productivity
Scope for development
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REQUEST LETTER
To respected Sir/Madam,
I Aishwarya Rishi, a student of Brihan Maharashtra College of Commerce (B.M.C.C), am
doing a project “A STUDY ON THE EFFECTIVENESS OF TRAINING FOR ADVISORS
IN THE INSURANCE INDUSTRY WITH RESPECT TO ICICI PRUDENTIAL”.
It would be gratefully appreciated if you could take out some time from your busy schedule t
help me carry out this survey, by filling the following questionnaire. Please feel free to add
additional remarks in the space provided.
Your help in this regard will be highly appreciated.
Thank you.
Aishwarya Rishi
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QUESTIONNAIRE ON EFFECTIVENESS OF TRAINING FOR
ADVISORS IN THE INSURANCE INDUSTRY
Serialno.
Questions Options
1. How many training programs have you attended in the present financial year?
2. How do you come to know about the training that you are to
go through?
o Mail from the Training
Department
o Through my supervisor
o Both
3. Do you like the subjects in general that you have to attend for
training?
o Yes
o Sometimes
o Not really
4. How helpful has your training been in the workplace? o Very effective
o Somewhat effective
o Nothing much
5. Has your training had a direct relationship with your job
performance?
o Always
o Most of the time
o Sometime
6. Do you think that your training has been effective in
enhancing your performance?
o Totally
o To some extent
o Not at all
7. What has been the ratio of the types of training in the last
year?
o Technical
o Behavioural
o Knowledge
Enhancement
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****************** THANKYOU *****************
8. What in your opinion should be the focus of training on? o Technical
o Behavioural
o Knowledge
Enhancement
9. Are your training programs held in…..? o Training rooms
o Outdoor places
o Both
10. What type of environment do you think is most effective for
training? Give a ratio out of hundred. (E.g. 30:40:30.)
o Indoor
o Experiential
o Outdoor
11. Have your Coordinators been present in the training
programs?
o Always
o Sometimes
o Never
12. What are the general complaints about training programs?
13. Your suggestions for improving the training sessions.
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BIBLIOGRAPHY
WEBSITES
www.iciciprulife.com
www.ficci.com
www.citehr.com
STUDY
Through email, friends, and company employees.
MAGAZINE
Insurance chronicle, Vol-VII, Issue-XI, November 2007
BOOKS
1. Cheng, Patrick Low Kim. “Training Success: understanding the learning and
training essentials.” Hyderabad , ICFAI University Press, 2005
2. Goldstein, Irwin.L. “Training in Organizations.” Thomas Wadsworth, 2001
3. Raju,P.V.L. “Training: Needs and Evaluation”( ed.), Hyderabad , ICFAI
University Press, 2005
4. Reddy, Dr.B.Rathan. “Effective HR Training and Development Strategy.”
Himalaya Publishing House, 2007