hr project in hdfc

8/8/2019 Hr Project in Hdfc

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Evaluation Of Effectiveness of Training Program 1

CHAPTER 1

INTRODUCTION

1.1 To Insurance Industry

1.1(a) Overview of Insurance Industry 2

1.1(b) Insurance Market in India 3

1.1(c) IRDA Act 8

1.2 To The Company HDFC SLIC 11

1.2(a) Incorporation of HDFC SLIC 13

1.2(b) History of Standard Life 16

1.2(c) Parentage 17

1.2(d) Standard Life Group 18

1.2(e) Key Strengths 20

1.2(f) Products 21

1.2(g) Associate Companies 25


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1.1(a) OVERVIEW OF THE INSURANCE INDUSTRY

The insurance industry forms an integral part of the global

financial market, with insurance companies being significant

institutional investors.

In recent decades, the insurance sector, like other financial

services, has grown in economic importance. This is through

direct contributions to gross domestic product (GDP) via

increased levels of employment within the sector; and indirectly

through higher levels of risk transfer and financial

intermediation.

The Insurance sector in India governed by Insurance Act, 1938, the Life

Insurance Corporation Act, 1956 and General Insurance Business

(Nationalization) Act, 1972, Insurance Regulatory and DevelopmentAuthority (IRDA) Act, 1999 and other related Acts.

IRDA has so far granted registration to 12 private life insurance companies

and 9 general insurance companies. If the existing public sector insurance

companies are included, there are currently 13 insurance companies in the

life side and 13 companies operating in general insurance business. General

Insurance Corporation has been approved as the "Indian reinsurer" for

underwriting only reinsurance business.


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1.1(b) INSURANCE MARKET IN INDIA

The history of life insurance in India dates back to 1818 when it was

conceived as a means to provide for English Widows. Interestingly in those

days a higher premium was charged for Indian lives than the non-Indian

lives, as Indian lives were considered more risky for coverage.

The Bombay Mutual Life Insurance Society started its business in 1870. It

was the first company to charge same premium for both Indian and non-

Indian lives. The Oriental Assurance Company was established in 1880.

The first general insurance company- Tital Insurance Company Limited

was established in 1850. Till the end of nineteenth century insurance

business was almost entirely in the hands of overseas companies.

Insurance regulation formally began in India with the passing of the Life

Insurance Companies Act of 1912 and the provident fund Act of 1912.

Several frauds during 20's and 30's sullied insurance business in India. By

1938 there were 176 insurance companies.

The first comprehensive legislation was introduced with the Insurance Act

of 1938 that provided strict State Control over insurance business.


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The insurance business grew at a faster pace after independence. Indian

companies strengthened their hold on this business but despite the growth

that was witnessed, insurance remained an urban phenomenon.

The Government of India in 1956, brought together over 240 private life

insurers and provident societies under one nationalized monopoly

Corporation and LIC were born. Nationalization was justified on the

grounds that it would create much-needed funds for rapid industrialization.

This was in conformity with the Government's chosen path of State lead

planning and development.

The (non-life) insurance business, however, continued to thrive with the

private sector till 1972. Their operations were restricted to organized trade

and industry in large cities. The insurance sector in India has come a fullcircle from being an open competitive market to nationalization and back to

a liberalized market again. Tracing the developments in the Indian

insurance sector reveals the 360-degree turn witnessed over a period of

almost two centuries.

By any yardstick, India, with about 200 million middle class households,presents a huge untapped potential for players in the insurance industry.


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Saturation of markets in many developed economies has made the Indian

market even more attractive for global insurance majors with the per capita

income in India expected to grow at over 6% for the next 10 years and with

improvement in awareness levels, the demand for insurance is expected to

grow at an attractive rate in India.

An independent consulting company, The Monitor Group has estimated that

the life insurance market will grow from Rs.218 billion in 1998 to Rs.1003

billion by 2008 (a compounded annual growth of 16.5%)

WINDS OF CHANGE

Reforms have marked the entry of many of the global insurance

majors into the Indian market in the form of joint ventures with

Indian companies. Some of the key names are AIG, New York

Life, Allianz, Prudential, Standard Life, Sun Life Canada and

Old Mutual.

The entry of new players has rejuvenated the erstwhile

monopoly player LIC, which has responded to the competition in

an admirable fashion by launching new products and improving

service standards.


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The following are the key winds of change brought about by

privatization : -

y Market Expansion : - There has been an overall expansion inthe market. This has been possible due to improved awareness

levels thanks to the large number of advertising campaigns

launched by all the players. The scope for expansion is still

unlimited as virtually all the players are concentrating on

large cities and towns - except by LIC to an extent there wasno significant attempt to tap the rura l markets.

y New Product Offerings : - There has been a plethora of newand innovative products offered by the new players, mainly

from the stable of their international partners. Customers

have tremendous choice from a large variety of products from

pure term (risk) insurance to unit-linked investment products.

Customers are offered unbundled products with a variety of

benefits as riders from which they can choose. More

customers are buying products and services based on their

true needs and not just traditional money-back policies,

which is not considered very appropriate for long-term

protection and savings. However, t here are st ill some key new

products yet to be introduced - e.g. health products.


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y Customer Service : - Not unexpectedly, this was one areathat witnessed the most significant change with the entry of

new players.

There is an attempt to bring in international best practices in

service and operational efficiency through use of latest

technologies. Advice and need based selling is emerging

through much better trained sales force and advisors.

T

here is improvement in response and turnaround times inspecific areas such as delivery of first policy receipt, policy

document, premium notice, final maturity payment,

settlement of claims etc. However, there is a long way to go

and various customer surveys indicate that the standards are

still below customer expectation levels

y Channels of Distribution : - Till two years back, the onlymode of distribution of life insurance products was through

Agents. While agents continue to be the predominant

distribution channel, today a number of innovative alternative

channels are being offered to consumers.

Some of them are bank assurance, brokers, the internet and

direct marketing. Though it is too early to predict, the wide

spread of bank branch network in India could lead to bank

assurance emerging as a significant distribution mechanism.


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1.1(c) (IRDA) ACT, 1999

Insurance Regulatory and Development Authority

Prior to 1999 the there were only two players in the market

Life insurance corporation of India (LIC) General Insurance Corporation (GIC)

Then to protect the interests of the policyholders, to regulate, promote and

ensure orderly growth of the insurance industry, IRDA was set up. After

this the private players started entering the market.

This is a corporate body established for the purpose and objects as set out in

explanation to the title. The authority replaces Controller under insurance

act 1938. It states that if authority is superseded by central govt. the

insurance may be appointed till such time as Authority is reconstituted.

CONSTITUTION OF IRDA :-

y The insurance regulatory and development authority consist of thefollowing members:-

1. Chairperson

2. Less than five whole time members

3. Less than four part time members.


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y Member should be person of ability, integrity & standing.y They Should have experience in the field of :

1. Life Insurance

2. General Insurance

3. Actuarial science.

4. Finance

5. Economics

6. Law7. Accountancy

8. Administration

yChairperson, members, officers and other employees of authority shall bepublic servants.

Functions of IRDA : -

y To issue certificate of registration, renew, withdraw, suspend orcancel such registration.

y To protect the interest of policyholders/insured in the matter ofinsurance contract with the insurance company.


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y To specify requisite qualification, code of conduct and training forinsurance intermediaries and agents.

y To specify code of conduct for surveyors /loss assessors.y To promote efficiency in the conduct of insurance business

y To promote and regulate professional organizations connected withthe insurance and reinsurance business.

y To undertake inspection, conduct enquiries and investigationsincluding audit of insurers and insurance intermediaries.

y To control and regulate the rates terms and conditions to be offeredby the insurer regarding general insurance business not so controlled

by tariff advisory committee under section 604 of Insurance act,

1938.

y To regulate investment of funds by the insurance companies.


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1.2 HDFC STANDARD LIFE

HDFC Standard Life Insurance Company limited is one of the Indias

leading private insurance companies, which offers a range of individual and

group insurance solutions.

It is a joint venture between Housing Development Finance Corporation

Limited (HDFC Limited), India's leading housing finance institution and a

Group Company of the Standard Life Plc, UK.

As on February 28, 2009 HDFC Ltd. holds 72.43% and Standard Life

(Mauritius Holding) 2006, Ltd. holds 26.00% of equity in the joint venture,

while the rest is held by others.

The Partnership : -

HDFC Standard Life first came together for a possible joint venture, to

enter the Life Insurance market, in January 1995.

It was clear from the outset that both companies shared similar values and

beliefs and a strong relationship quickly formed.

In October 1995 the companies signed a 3 year joint venture agreement.

Around this time Standard Life purchased a 5% stake in HDFC, further

strengthening the relationship.


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The next three years were filled with uncertainty, due to changes in

government and ongoing delays in getting the IRDA (Insurance Regulatory

and Development authority) Act passed in parliament. Despite this both

companies remained firmly committed to the venture.

In October 1998, the joint venture agreement was renewed and additional

resource made available. Around this time Standard Life purchased 2% of

Infrastructure Development Finance Company Ltd. (IDFC). Standard Life

also started to use the services of the HDFC Treasury department to advise

them upon their investments in India.

Towards the end of 1999, the opening of the market looked very promising

and both companies agreed the time was right to move the operation to the

next level. Therefore, in January 2000 an expert team from the UK joined a

hand picked team from HDFC to form the core project team, based in

Mumbai.

Around this time Standard Life purchased a further 5% stake in HDFC and

a 5% stake in HDFC Bank.

In a further development Standard Life agreed to participate in the Asset

Management Company promoted by HDFC to enter the mutual fund

market. The Mutual Fund was launched on 20th July 2000.


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1.2(a) Incorporation of HDFC Standard Life Insurance Company Ltd

The company was incorporated on 14th August 2000 under the name of

HDFC Standard Life Insurance Company Limited.

Their ambition from the beginning was to be the first private company to

re-enter the life insurance market in India.

On the 23rd of October 2000, this ambition was realized when HDFC

Standard Life was the first life company to be granted a certificate of

registration.

HDFC are the main shareholders in HDFC Standard Life, with 81.4%,

while Standard Life owns 18.6%. Given Standard Life's existing investment

in the HDFC Group, this is the maximum investment allowed under current

regulations.

HDFC and Standard Life have a long and close relationship built upon

shared values and trust. The ambition of HDFC Standard Life is to mirror

the success of the parent companies and be the yardstick by which all other

insurance companies in India are measured.

Mission : -

To be the top new life insurance company in the market.


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This does not just mean being the largest or the most productive company

in the market, rather it is a combination of several things like

Customer service of the highest orderValue for money for customers Professionalism in carrying out business Innovative products to cater to different needs of different

customers

Use of technology to improve service standards Increasing market share

Values : -

SECURITY :- Providing long term financial security to our policy holders

will be our constant Endeavour. We will be doing this by offering lifeinsurance and pension products.

TRUST :- We appreciate the trust placed by our policy holders in us.

Hence, we will aim to manage their investments very carefully and live up

to this trust.

INNOVATION :- Recognizing the different needs of our customers, we

will be offering a range of innovative products to meet these needs.


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Their mission is to be the best new life insurance company in India and

these are the values that will guide them in this.

HDFC standard life believes that establishing a strong and ethical

foundation is an essential prerequisite for long term sustainable growth to

ensure this we have concentrated our focus on expansion on branch

network, organizing an efficient and well trained sales force, and setting up

of appropriate systems and processes with optimum use of technology.

As all these areas form the basic infrastructure for establishing the highest

possible customer service standards.


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1.2(b) HISTORY OF STANDARD LIFE

The standard life assurance company (standard life) was established in

1825 and the first standard life assurance company act was passed by

parliament in 1832. Standard life was reincorporated as an assurance

company in 1925.

The standard life group originally operated only though branches o agencies

of the mutual company in the untied kingdom and certain other countries.

Its Canadian branch was founded in 1833 and its Irish operations in 1838.

This largely remained the structure of the group until 1996, when it opened

a branch in Frankfurt, Germany with the aim of exporting its UK life

assurance and pensions operating model to capitalize on the opportunities

presented by EC directive 92/96/EEC (the third life directive) and offer a

product range in that market with features which local providers were

unable to offer.

In the 1990s, the group also sought to diversify its operations into areas

which complimented its core life assurance and pensions business, with the

intention of positioning itself as a broad range financial services provider.

Banking, investment and healthcare -

The group set up standard life bank, its UK mortgage and retail savings

banking subsidiary in 1998. The group acquired prime health limited

(subsequently renamed standard life healthcare) in the united kingdom in

2000. Standard life healthcare expanded in March 2006 with the acquisition

of the PMI business of first Assist.


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1.2(c) PARENTAGE HDFC LIMITED

HDFC Limited, Indias premier housing finance institution has assisted

more than 3.3 million families own a home, since its inception in 1977

across 2400 cities and towns through its network of over 250 offices.

It has international offices in Dubai, London and Singapore with service

associates in Saudi Arabia, Qatar, Kuwait and Oman to assist NRIs and

PIOs to own a home back in India.

As of December 2008, the total asset size has crossed more than Rs. 95,000

crores including the mortgage loan assets of more than Rs. 82,800 crores.

The corporation has a deposit base of Rs. 17,551 crores, earning the trust of

more than 9, 00,000 depositors.

Customer Service and satisfaction has been the mainstay of the

organization. HDFC has set benchmarks for the Indian housing finance

industry. Recognition for the service to the sector has come from several

national and international entities including the World Bank that has lauded

HDFC as a model housing finance company for the developing countries.

HDFC has undertaken a lot of consultancies abroad assisting different

countries including Egypt, Maldives, and Bangladesh in the setting up of

housing finance companies.


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1.2(d) Standard Life Group (Standard Life plc and its subsidiaries)

The Standard Life Group has been looking after the financial needs of

customers for over 180 years.

It currently has a customer base of around 7 million people who rely on the

company for their insurance, pension, investment, banking and health-care

needs. Its investment manager currently administers 125 billion in assets.

It is a leading pensions provider in the UK, and is rated by Standard &Poor's as 'strong' with a rating of A+ and as 'good' with a rating of A1 by

Moody's.

Standard Life was awarded the 'Best Pension Provider' in 2004, 2005 and

2006 at the Money Marketing Awards, and it was voted a 5 star life and

pensions provider at the Financial Adviser Service Awards for the last 10

years running.

The '5 Star' accolade has also been awarded to Standard Life Investments

for the last 10 years, and to Standard Life Bank since its inception in 1998.

Standard Life Bank was awarded the 'Best Flexible Mortgage Lender' at the

Mortgage Magazine Awards in 2006.


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Vision : -

'The most successful and admired life insurance company, which means

that we are the most trusted company, the easiest to deal with, offer the best

value for money, and set the standards in the industry'.

'The most obvious choice for all'.

Values : -

Values that we observe while we work:

y Integrityy Innovationy Customer centricy People Care One for all and all for oney Team worky Joy and Simplicity


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1.2(e) KEY STRENGTHS

Financial expertise

As a joint venture of leading financial services groups, HDFC standard life

has expertise required to manage your long term investments safely and

efficiently.

Range of solutions

We have a range of individual and group solutions which can be easily

customized to specific needs. Our group a solution has been designed to offer

you complete flexibility combined with low charging structure.

Track record so far

Our gross premium income for the year ending March 31, 2009 stood at Rs.5,

564.69 crores .The company has covered over 8, 33,070 lives as on march 31,

2009.


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1.2(f) PRODUCTS

HDFC Standard Life realizes that not everyone has the same kind of needs.

Keeping this in mind, they have a varied range of Products that people can

choose from to suit all their needs. These will help secure their future as

well as the future of their family.

HDFC Standard Life Insurance offers a range of individual and group

solutions, which can be easily personalized to specific needs. Its group

solutions have been planned to offer complete flexibility, together with a

low charging structure. As of 31 December, 2008, the Company's new

business premium income stood at Rs. 1,839.70 Crores; it has covered over

812,811 lives so far. Given below is a comprehensive list of policies and

products on offer by HDFC Standard Life Insurance:

CHILDREN PLANS HDFC Children's Plan HDFC Unit Linked Young Star II HDFC Unit Linked Young Star Plus II HDFC Unit Linked Young Star Champion

These plans help you to secure your Childs dream, provides economic

support when your child needs it more and funding major milestone.


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PROTECTION PLANS

HDFC Term Assurance Plan HDFC Loan CoverTerm Assurance Plan HDFC Home Loan Protection Plan

You can protect your family against the loss of your income or the burden

of a loan in the event of your unfortunate demise, disability or sickness.

These plans offer valuable peace of mind at a small price.

SAVING AND INVESTMENT PLANS

HDFC Unit Linked Endowment Plus II HDFC SimpliLife HDFC Unit Linked Endowment II HDFC Unit Linked Enhanced Life Protection II HDFC Unit Linked Wealth Maximiser Plus HDFC Unit Linked Endowment Winner HDFC Endowment Assurance Plan HDFC Money Back Plan

HDFC Single Premium Whole of Life Insurance Plan HDFC Assurance Plan HDFC Savings Assurance Plan


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Its Single Premium Whole of Life plan is well suited to meet your long term

investment needs. They provide you with attractive long term returns

through regular bonuses. Their Savings Plans offer you flexible options to

build savings for your future needs such as buying a dream home or

fulfilling your children immediate and future needs.

HEALTH PLANS HDFC Critical Care Plan HDFC SurgiCare Plan

These plans secure the health costs, gives financial independence while

illness and helps in meeting medical expenses effortlessly.

PENSION PLANS

HDFC Personal Pension Plan HDFC Unit Linked Pension II HDFC Unit Linked Pension Maximiser II HDFC Immediate Annuity

Their Pension Plans help you secure your financial independence even after

retirement.


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GROUP PLANSy Group Term Insurance Plany Group Variable Term Insurance Plany Group Unit Linked Plan - Gratuityy Group Unit Linked Plan - Superannuationy Group Unit Linked Plan - Leave Encashment


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CHAPTER 2

RESEARCH

METHODOLOGY

2.1 Research Objective 27

2.2 Scope of the Research 27

2.3 Significance of the Research 29

2.3(a) To the Company 29

2.3(b) To the Researcher 29

2.4 Data Sources 30

2.5 Research Design 30

2.6 Sampling Method 31

2.7 Sample Unit 31

2.8 Sample Size 31

2.9 Sample Area 31

2.10 Limitations 32


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HDFC STANDARD LIFE has a nation wide presence with 48 offices in 34

cities hence has a varied and geographically large target audience. It is

essential for them to conduct good and effective agent training programs in

order to be able to successfully capture their target segment.

HDFC STANDARD LIFE invests significantly in its training programme

and each agent is trained for 152 hours as opposed to the mandatory 100

hours stipulated by the IRDA before beginning to sell in the marketplace.

Training is a continuous process for agents at HDFC STANDARD LIFE

and ensures development of skills and knowledge through a structured

programme spread over 500 hours in two years.

It shall be a very beneficial experience to evaluate the Effectiveness of

agent training program employed by HDFC STANDARD LIFE which led

to success of an agent.


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2.3 SIGNIFICANCE OF THE RESEARCH : -

2.3(a) Significance For The Company : -

y Company gains an insight to their success in assessing need oftheir agents.

y Company gains knowledge about what more they can do toimprove their agent training programs.

y Company comes to know about the problems, which are affectingtheir sales.

2.3(b) Significance For The Researcher : -

y Gets to know the importance of Training programme for acompany.

y Gets an experience of how an agent-training program helps inneed assessment.

y The study as well as the training played a pivotal role in bridgingthe gap between the theoretical knowledge possessed by the

researcher and the practical know-how required to effectively

carry out marketing operations


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2.4 DATA : -

Raw facts and figures are called as Data. There can be two sources of Data

viz. Primary & Secondary.

Primary Data : -

Primary data was collected by personal interview and through

Questionnaires.

Secondary Data : -

Secondary data was collected through the database provided by the

company and also data is collected by websites of the company.

2.5 RESEARCH DESIGN : -

The research design is the logical, step-by-step way of conducted a research

for a particular problem. It is the blueprint for conducted a research. The

research design is analytical in nature.

Exploratory Research Technique.

The research undertaken has focused on discovering the cause and effect

relationship of the strategies employed.

The structure therefore is not formal or rigid in nature, because during the

course of the research it has been necessary to change direction dependingon availability of ideas, information and relation among variables.


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2.6 SAMPLING METHODOLOGY : -

Methodology is said to be the procedure or way in which the project work

has been done.

SIMPLE RANDOM SAMPLING TECHNIQUE and CONVENIENCE

SAMPLING have been used.

2.7 SAMPLE UNIT : -

Agents of HDFC STANDARD LIFE

2.8 SAMPLE SIZE : -

150 agents

2.9 SAMPLE AREA : -

Agents coming to the office of HDFC STANDARD LIFE branch H- Block

Connaught Place.


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2.10 LIMITATIONS : -

1. Time was a factor that could not be avoided; therefore could notgather further information.

2. Due to the geographical vastness of branches of HDFC STANDARDLIFE, research was restricted to a single branch.

3.Not all respondents responded to the questionnaire.

4. Mindset of people may vary depending upon their age, gender,income etc.

5. Getting appointment from the concern person was very difficult.


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CHAPTER 3

LITERATURE

REVIEW

3.1 Introduction ofTraining 34

3.2 Need ofTraining 34

3.3 Objectives ofTraining 35

3.4 Evaluation ofTraining 35

3.5 Training Process 38


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3.1 TRAINING : -

Training is the act of increasing the Knowledge and Skills of an employee

for doing a Particular Job.

The Purpose ofTraining is to bring about improvements in the performance

of work.

It includes learning of such techniques as are required for the better

performance of definite tasks.

3.2 NEED OF TRAINING : -

Training is important not only from the point of view of organization, but

also for the employees.

Training is valuable to the employees because it will give them Greater Job

Security and an Opportunity for advancement. A Skill acquired through

training is an asset for the organization and the employee.

Need ofTraining arises because of the following reasons : -

1. Changing Technology

2. Quality Conscious Customers

3. Greater Productivity

4. Stable Workforce

5. Better Management


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3.3 OBJECTIVES OF TRAINING : -

1. To Increase the knowledge of employees in doing specific job.2. To impart new Skills among the employees so that they learn

quickly.

3. To bring about change in the attitude of the workers towards fellowworkers, supervisor and the organization.

4. To improve the overall performance of the organization.5. To prepare employees for higher jobs by developing advanced skills

in them.

Training is not a ONE-STEP PROCESS, but it is a Continuous or never

ending process because it increases the knowledge and skills of employees

in performing their jobs and serves as a refresher for the old employees.

3.4 EVALUATTION OF TRAINING : -

Evaluation is simply measuring the degree to which objectives areachieved.

To know the quantifiable return on companys investment.KSA change is expected.


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3.4(a) EVALUATION PHASE : -

Input

Evaluation objectives

Organizational constraints

Design issues

Process Evaluation strategy and design

Outcome

Process measures

Outcome measures(reaction, learning,behavior ,results)


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LEARNING : -

The extent to which the trainees have gained the desired knowledgeand skills i.e. KSAs.

JOB BEHAVIOR : -

It measures the degree to which the learned behavior has transferredto the job.

ORGANIZATIONAL RESULTS : -

Reflects the gap in performance identified in the TNA which triggersreactive training.

For example: productivity improvement, quality improvement, costreduction, accident reduction etc.

3.5 TRAINING PROCESS : -

IRDA conduct the training of insurance Advisor.

Training hours: 100

Two modes ofTraining : -

(a)Class room(b) Online


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Class Training has two options : -

(a) Full time : - 9.30 to 5.30 Monday to Saturday for 18 days + 3 days of

product training.

(b) Part time : - 6.30 pm to 9 pm Monday to Saturday for 34 days

(c) Online : - on computer and 100 hrs must be completed within 30 days

(In case of professionals like CAs, ICWAs and MBA {from premier

institutes} Training is for 50 Hrs and must be completed in 9 days)

After the prospect have undergone the training process, he have to appear

for an online test, which is about the training he has done, and he gets the

result on the spot, and if he clears the examination then he gets a

License for 3 years and also, HDFC STANDARD LIFE INSURANCE

gives free zero balance accounts to the ADVISORS.


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CHAPTER 4

DATA ANALYSIS

AND

INTERPRETATION


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1. Did the training meet its stated Objectives ?

S. No. Category Number of

Respondents

% of agents

1 Very much 127 84.6

2 Somewhat 15 10

3 Not at all 8 5.3

5.3%

10%

84.6%

0

10

20

30

40

50

60

70

80

90

Not at all Somewhat Very Much

% of

agents


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INTERPRETATION : -

Research Indicates that the training meet its stated need as most of theagents found the trainings to be quiet nice. The trainings were up to the

mark.

Most of the Agents found the trainings to be quiet nice. The trainings wereup to the mark.

84.6% agents said that the trainings very much achieved their statedobjectives. It was timely and well organized. And only 5.3% of the agents

found that it was not at all up to the mark, which is quite a negligible

amount.


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2. Was the presentation interesting and informative?


Respondents

% of agents

1 Very much 99 66

2 Somewhat 27 18

3 Not at all 24 16

16%

18%

66%

Not at all

Somewhat

Very Much


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INTERPRETATION : -

Information given to the agents through the training was quiet satisfactory.They found the presentations very interesting and precise.

66% of the agents found the presentations very interesting and precise.

We can improve the presentations further more as approx 34% employeesdidnt found them to be that good.


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3. Was the material relevant to the successful completion of

your job?


Respondents

% of agents

1 Very much 97 64.6

2 Somewhat 38 25.3

3 Not at all 15 10

10%

25.3%

64.6%

0

10

20

30

40

50

60

70

% ofagents


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INTERPRETATION : -

As from the above chart it is evident that information given was veryimportant to necessitate the success in this competitive environment. One

has to be regularly well informed.

65% of the agents feel that the material is relevant for the successfulcompletion of their job.

Improvements and more thorough studies can be done though as is evidentfrom the viewpoint of approx 35% of employees.


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4. Do you expect to be able to apply what you learned when

you return to your job?


Respondents

% of agents

1 Very much 73 48.6

2 Somewhat 66 44

3 Not at all 11 7.3

7.3%

44%48.6%

0

10

20

30

40

50

60

Not at all Somewhat Very Much

% ofagents


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INTERPRETATION : -

A nice percentage of Employees take this training to be quiet useful to theirwork and apply it too their job.

New findings keep on coming in this field and new methods and techniquesthat makes ones work simpler.

The adaptation of various people differs. Some stick to their old ways butlike to be well informed. Approx 48.6% apply the learned facts to their jobs.


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5. Was the meeting too long? Too short? Breaks O.K.?


Respondents

% of agents

1 Just Right 84 56

2 Too Brief 36 24

3 Too Long 30 20

24%

56%

20%TooBrief

JustRight

TooLong


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INTERPRETATION : -

Agents have different grasping powers; some take it early some take time.

Owing to the earlier fact that the trainings were informative and interestinga good percentage (56 %) of agents found them to be just right.

Some found it too long, some short but all in all the trainings are wellplanned.


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6. How would you rate training sessions?


Respondents

% of agents

1 Just Right 77 51.3

2 Too Frequent 46 30.6

3 Not Frequent

Enough

27 18

18%

51.3%

30.6%

0

10

20

30

40

50

60

Not frequent

enough

Just right Too frequent

% ofagents


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INTERPRETATION : -

A lot of employees i.e. 51.3% look forward to the training sessions. Thepresent frequency of the sessions is quiet perfect.

The company should stay with the same number of sessions per year.


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7. Do you feel you completely understand the content of the

meeting?


Respondents

% of agents

1 Very much 138 92

2 Somewhat 10 6.6

3 Not at all 2 1.3

1.3%6.6%

92%

010203040506070

8090

100

% ofagents


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INTERPRETATION : -

As is evident from the above chart there is no problem in the language andinterpretations of the meeting.

The communication skills used are appropriate.

92% of the agents can very much understand the content of the meetingcompletely.

1.3% of the agents did not understand the content of the meeting, which isquite a negligible amount.


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8. How many times did you attend the training sessions?


Respondents

% of agents


2 Somewhat 42 28

3 Not at all 7 4.6

INTERPRETATION : -

The sessions are very much popular. Around 67.3% Agents attend themregularly.

4.6%

28%

67.3%

010

20

30

40

50

60

7080

Not at all SomewhatVery Much

% ofagents


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9. Do you think this training is making you Capable for this

industry?


Respondents

% of agents


2 Somewhat 16 10.6

3 Not at all 9 6

6%

10.6%

83.3%

Not at all

Somewhat

Very Much


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INTERPRETATION : -

An overwhelming number of agents 83.3 % feel that this training keepsthem competent enough for this industry which is very essential for their

growth.

Improvements and more thorough studies can be done though as is evidentfrom the viewpoint of approx 16.6% of employees.


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Research Indicates that the training meet its stated need as most of theagents found the trainings to be quiet nice. The trainings were up to the

mark.

It was timely and well organized. And only few percent of the agents found

that it was not at all up to the mark, which is quite a negligible.

Information given to the agents through the training was quiet satisfactory.Agents found the presentations very interesting and precise. Presentations

can be improved further more.

As from the response given by the agents it is evident that informationgiven was very important to necessitate the success in this competitive

environment.

Agents feel that the material is relevant for the successful completion of

their job. Improvements and more thorough studies can be done.

A nice percentage of Employees take this training to be quiet useful to theirwork and apply it too their job. New findings keep on coming in this field

and new methods and techniques that makes ones work simpler for the

agents.

The adaptation of various people differs. Some stick to their old ways but

like to be well informed. Most of the agents apply the learned facts from the

training programs to their jobs.


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Agents have different grasping powers; some take it early some take time.Owing to the earlier fact that the trainings were informative and interesting.

A good percentage of agents found them to be just right. Some found it too

long, some short. But all in all the trainings are well planned.

A lot of employees look forward to the training sessions. The presentfrequency of the sessions is quiet perfect. The company should stay with the

same number of sessions per year.

As is evident from the research there is no problem in the language andinterpretations of the meeting. The communication skills used are

appropriate as agents can very much understand the content of the meeting

completely.

The sessions are very much popular. A large percentage of Agents attendedthem regularly.

An overwhelming number of the agents feel that this training keeps themcompetent enough for this industry which is very essential for their growth

and the growth of the company.


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CHAPTER 6

CONCLUSION


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In conclusion, it was found that well planned and organized agent training

programs of HDFC STANDARD LIFE are able to achieve correct need of

agents and it results into a great success for the company.

It plays an essential part in the growth of the agents and the company.

Through the accurate need assessment and by understanding the nature of

training required by understanding the individual employee need a company

can achieve tremendous success.

Research Indicates that the training meet its stated need as most of the

agents found the trainings to be quiet nice. The trainings were up to the

mark.

Information given to the agents through the training was quiet satisfactory.

A nice percentage of Employees take this training to be quiet useful to theirwork and apply it too their job. New findings keep on coming in this field

and new methods and techniques that makes ones work simpler for the

agents.

An overwhelming number of the agents feel that this training keeps them

competent enough for this industry which is very essential for their growth

and the growth of the company.


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CHAPTER - 7

BIBLIOGRAPHY


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ANNEXURE


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TRAINING EVALUATION QUESTIONNAIRE

Training Subject:

Date:

Conducted By:

Department:

Evaluation:

1. Did the training meet its stated needs?

Not at all Somewhat Very much

2. Was the presentation interesting and informative?



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3. Was the material relevant to the successful completion of your job?


4. Do you expect to be able to apply what you learned when you return to

your job?


5. Was the meeting too long? Too short? Breaks O.K.?

Too brief Just right Too long

6. How would you rate training sessions?

Not frequent enough Just right Too frequent


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7. Do you feel you completely understand the content of the meeting?


8. How many times did you attend the training sessions?


9. Do you think this training is making you Capable for this industry?


10. Do you have any suggestions for topics, material, or presentations for

future meetings?

Comments:

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