Hi all,
I need suggestions on how to and examples of how to write the follwing assignment. Any advice will be appreciated:
'What are the knowledge, skills and behaviours required to be effective in your HRM/D role? In answering the question you should refer to the HR Map and cover at least three areas, two of which must be the key areas; strategies, insights and solutions and leading and managing the HR function. You must refer to all eight behaviours.'
Thanks,
Shelley
From United Kingdom, London
I need suggestions on how to and examples of how to write the follwing assignment. Any advice will be appreciated:
'What are the knowledge, skills and behaviours required to be effective in your HRM/D role? In answering the question you should refer to the HR Map and cover at least three areas, two of which must be the key areas; strategies, insights and solutions and leading and managing the HR function. You must refer to all eight behaviours.'
Thanks,
Shelley
From United Kingdom, London
1
Case let 2
In 1950, with the enactment of the Insurance Act, Government of India decided to bring all the
insurance companies under one umbrella of the Life Insurance Corporation of India (LIC). Despite the
monopoly of LIC, the insurance sector was not doing well. Till 1995, only 12% of the country’s people
had insurance cover. The need for exploring the insurance market was felt and consequently the
Government of India set up the Malhotra Committee. On the basis of their recommendation, Insurance
Development and Regulatory Authority (IRDA) Act was passed in parliament in 2000. This moved
allowed the private insurers in the market with the strong foreign partners with 74:26% stakes. XYZMoon
life was one of the first three private players getting the license to operate in India in the year 2000.
XYZ Moon life Insurance was a joint venture between the XYZ Group and Moon Inc. of US.
XYZ started off its operations in 1965, providing finance for industrial development and since then it
had diversified in to housing finance, consumer finance, mutual funds and now its latest venture was
Life Insurance. Its foreign partner Moon Inc. had its presence in Asia since the past 75 years catering to
over 1 million customers across 11Asian countries. Within a span of two years, twelve private players
obtained the license from IRDA.IRDA had provided certain base policies like, Endowment Policies,
Money back Policies, Retirement Policies, Team Policies, Whole Life Policies, and Health Policies.
They were free to customize their products by adding on the riders. In the year 2003, the company
becomes one of the market leaders amongst the private players. Till 2003, total market share of private
insurers was about 4%, but Moon Life was performing well and had the market share of about 30% of
the private insurance business. In June 2002, XYZ Moon Life started its operations at Nagpur with one
Sales Manager(SM) and ten Development Officers (DO). The role of a DO was to recruit the agents and
sell a career to those who have an inclination towards insurance and could work either on part time or
full time basis. They were very specific in recruiting the agents, because their contribution directly
reflected their performance. All DOs faced three challenges such as Case Rate (number of policies),
case size (amount of premium), and recruitment of advisors by natural market, personal observations,
nominators, and centre of influence. Incentive of offered by the company to development officers and
agents were based on their performance, which resulted in to internal competition and finally converted
into rivalry. In August 2002, a branch manager joined along with one more sales manager and ten
development officers. Initially, the branch was performing well and was able to build their image in the
local market. As the industry was dynamic in nature, there were frequent opportunities bubbling in the
market. In order to capitalize the outside opportunities, one sales manager left the organization in
January 2003. As the sales manager was a real performer, he was able to convince all the good
performers at XYZ Moon Life Insurance to join the new company. In april 2004, the company faceda
grave problem, when the Branch Manager left the organization for greener pastures. To fill the position,
in May 2004, the company appointed a new branch manager, Shashank Malik, and a sales manager,
Rohit pandey. The branch manager in his early mthirties had an experience of sales and training of
about 12 years and was looking after two branches i.e., Nagpur and Nasik. Malik was given one
Assistant Manager and 25 Development Officers. Out of that, ten were reporting to him. He was given
the responsibility of handling all the operations and the authority to make all the decisions, while
informing the Branch Manager. Malik opined that the insurance industry is a sunrise industry where
manpower plays an important role as the business is based on relationship. He wanted to encourage
one-to-one interaction, transparency and discipline in his organization. While managing his team, he
wanted his co-workers to analyze themselves i.e., to understand their own strengths and weaknesses. He
wanted them to be result-oriented and was willing to extend his full support. Finally, he wanted to
introduce weekly analysis in his game plan along with inflow of new blood in his organization. Using
his vast experience, he began informal interactions among the employees, by organizing outings and
parties, to inculcate the feelings of friendliness and belonging. He wanted to increase the commitment
level and integrity of his young dynamic team by facilitating proper channelization of their energy. He
believed that proper training could give his team a proper understanding of the business and the
dynamics of insurance industry.
Questions:
1. If you were Malik, what strategies would you adopt to solve the problem?
2. With high employee turnover in insurance industry, how can the company retain a person like Malik?
From United Arab Emirates, Sharjah
In 1950, with the enactment of the Insurance Act, Government of India decided to bring all the
insurance companies under one umbrella of the Life Insurance Corporation of India (LIC). Despite the
monopoly of LIC, the insurance sector was not doing well. Till 1995, only 12% of the country’s people
had insurance cover. The need for exploring the insurance market was felt and consequently the
Government of India set up the Malhotra Committee. On the basis of their recommendation, Insurance
Development and Regulatory Authority (IRDA) Act was passed in parliament in 2000. This moved
allowed the private insurers in the market with the strong foreign partners with 74:26% stakes. XYZMoon
life was one of the first three private players getting the license to operate in India in the year 2000.
XYZ Moon life Insurance was a joint venture between the XYZ Group and Moon Inc. of US.
XYZ started off its operations in 1965, providing finance for industrial development and since then it
had diversified in to housing finance, consumer finance, mutual funds and now its latest venture was
Life Insurance. Its foreign partner Moon Inc. had its presence in Asia since the past 75 years catering to
over 1 million customers across 11Asian countries. Within a span of two years, twelve private players
obtained the license from IRDA.IRDA had provided certain base policies like, Endowment Policies,
Money back Policies, Retirement Policies, Team Policies, Whole Life Policies, and Health Policies.
They were free to customize their products by adding on the riders. In the year 2003, the company
becomes one of the market leaders amongst the private players. Till 2003, total market share of private
insurers was about 4%, but Moon Life was performing well and had the market share of about 30% of
the private insurance business. In June 2002, XYZ Moon Life started its operations at Nagpur with one
Sales Manager(SM) and ten Development Officers (DO). The role of a DO was to recruit the agents and
sell a career to those who have an inclination towards insurance and could work either on part time or
full time basis. They were very specific in recruiting the agents, because their contribution directly
reflected their performance. All DOs faced three challenges such as Case Rate (number of policies),
case size (amount of premium), and recruitment of advisors by natural market, personal observations,
nominators, and centre of influence. Incentive of offered by the company to development officers and
agents were based on their performance, which resulted in to internal competition and finally converted
into rivalry. In August 2002, a branch manager joined along with one more sales manager and ten
development officers. Initially, the branch was performing well and was able to build their image in the
local market. As the industry was dynamic in nature, there were frequent opportunities bubbling in the
market. In order to capitalize the outside opportunities, one sales manager left the organization in
January 2003. As the sales manager was a real performer, he was able to convince all the good
performers at XYZ Moon Life Insurance to join the new company. In april 2004, the company faceda
grave problem, when the Branch Manager left the organization for greener pastures. To fill the position,
in May 2004, the company appointed a new branch manager, Shashank Malik, and a sales manager,
Rohit pandey. The branch manager in his early mthirties had an experience of sales and training of
about 12 years and was looking after two branches i.e., Nagpur and Nasik. Malik was given one
Assistant Manager and 25 Development Officers. Out of that, ten were reporting to him. He was given
the responsibility of handling all the operations and the authority to make all the decisions, while
informing the Branch Manager. Malik opined that the insurance industry is a sunrise industry where
manpower plays an important role as the business is based on relationship. He wanted to encourage
one-to-one interaction, transparency and discipline in his organization. While managing his team, he
wanted his co-workers to analyze themselves i.e., to understand their own strengths and weaknesses. He
wanted them to be result-oriented and was willing to extend his full support. Finally, he wanted to
introduce weekly analysis in his game plan along with inflow of new blood in his organization. Using
his vast experience, he began informal interactions among the employees, by organizing outings and
parties, to inculcate the feelings of friendliness and belonging. He wanted to increase the commitment
level and integrity of his young dynamic team by facilitating proper channelization of their energy. He
believed that proper training could give his team a proper understanding of the business and the
dynamics of insurance industry.
Questions:
1. If you were Malik, what strategies would you adopt to solve the problem?
2. With high employee turnover in insurance industry, how can the company retain a person like Malik?
From United Arab Emirates, Sharjah
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