scholarly journals ROLE OF TALENT MANAGEMENT PRACTICES ON EMPLOYEE RETENTION: A CORRELATION STUDY WITH SPECIAL FOCUS ON SELECTED INDIAN LIFE INSURANCE COMPANIES

2020 ◽  
pp. 61-66
Author(s):  
Dr. Babita Yadav
Keyword(s):  
Sample Size ◽  
Organizational Performance ◽  
Life Insurance ◽  
Employee Retention ◽  
Management Practices ◽  
Talent Management ◽  
Private Life ◽  
Insurance Companies ◽  
Life Insurers ◽  
The Right

Employee retention and talent management have been a critical issue for many national and global level organizations. People are the most valuable asset and their development in terms of skills, knowledge and abilities gives strength to an organization to achieve desired outcomes. Talent management practices aimed at getting the right person in the right job and to get the best out of their right people. The study aims to understand the role and relation of various talent management practices on employee retention in Life Insurance sector. The nature of study is descriptive type and depends on both primary and secondary data. The total sample size was 100 comprising of all levels of employees and selected through non-probability purposive sampling method. The data collected from primary data were analyzed using descriptive statistic and correlation method. The main finding of the study indicate that there is a positive relationship among various dimensions of talent management practices such as training & development, rewards & compensation, performance management on employee retention. The present study cannot be generalized because the sample size is inadequate and confined to only four private life insurers. The study concludes that by effective talent management practices, the top management of private insurance companies can improve retention rate of employees and thus enhances overall organizational performance. Therefore, the top level managers can adopt various talent management strategies in reducing attrition and thereby improving employee retention and organizational performance. KEYWORDS: Talent management practices, Employee retention, Private Life Insurers and Organizational performance.

Talent Management Practices and Competitive Advantage

2021 ◽  
Vol 12 (5) ◽  
pp. 102-115
Author(s):  
Yazan Emnawer Al-Haraisa ◽  
*Noor Al-Ma'aitah ◽  
Khalaf Al-Tarawneh ◽  
Ahmad Abuzaid
Keyword(s):  
Competitive Advantage ◽  
Management Practices ◽  
Talent Development ◽  
Talent Management ◽  
Insurance Companies ◽  
Convenience Sample ◽  
Insurance Sector ◽  
Talent Retention ◽  
The Right ◽  
Selection Stage

This study investigated the role of talent management practices (talent discovery, talent development, and talent retention) on achieving a competitive advantage in Jordanian insurance companies. Data were collected via a questionnaire using a convenience sample consisting of 130 managers and their assistants. Using SPSS 21, a multiple regression analysis was conducted and found a positive effect for talent management (talent discovery, talent development, and talent retention) on competitive advantage, and the relative importance of dimensions was talent development, talent discovery, and talent retention, respectively. This study concluded the importance of talent management practices in Jordanian insurance sector, in particular in the selection stage for choosing the right people. Recommendations for future researches are also identified.

Evaluating the Efficiency of Indian Life Insurance Sector

2020 ◽  
pp. 72-80
Keyword(s):  
Life Insurance ◽  
Secondary Data ◽  
Private Life ◽  
Annual Reports ◽  
Insurance Companies ◽  
Operating Characteristics ◽  
Entire Study ◽  
Insurance Sector ◽  
Life Insurers ◽  
Using Data

ABSTRACT The purpose of study was to investigate the technical efficiency of Indian life insurance companies using data envelopment analysis (DEA) to find the reasons for inefficiency. It aimed to analyze the efficiency of all the 24 life insurance companies operating in India for the period 2013-2017 using DEA based on secondary data collected from the Insurance Regulatory and Development Authority Annual Reports. Findings indicated that the state life insurer, that is, Life Insurance Corporation (LIC) was efficient throughout the entire study period. The private life insurance companies exhibited variations in their performance levels as they were comparatively new in the life insurance sector and of different sizes. Some private life insurers operated efficiently, while some private life insurers were less productive using excessive capital; on the other hand, few life insurers grew fast using technology. The methodology employed in this study estimates relative efficiencies without assuming any functional form; as a result, the proper comparison of input utilized with the output produced was not possible. The study brought into light the operating characteristics and efficiencies of all the Indian life insurance companies during the period 2013-2017 and therefore holds important insights for policy makers and practitioners as well as for the decision makers.

scholarly journals RELATIONSHIP BETWEEN TALENT MANAGEMENT PRACTICES AND ORGANIZATIONAL PERFORMANCE IN ISLAMIC BANKS IN KENYA

2020 ◽  
Vol 8 (3) ◽  
pp. 98-114
Author(s):  
Moza Abdallah Soud ◽  
D. A. Ogolla ◽  
S Mureithi
Keyword(s):  
Organizational Performance ◽  
Employee Retention ◽  
Management Practices ◽  
Talent Management ◽  
Multivariate Regression Analysis ◽  
Business Environment ◽  
Islamic Banks ◽  
Team Leaders ◽  
Highly Able ◽  
The Relationship

Stringent business environment, shareholders’ expectations on financial returns and the realization of companies’ goals are some of the factors that have led to team leaders embracing talent management initiatives at various places of work. Innovation, demographic changes, competition and the advancement in technology have made leaders lose highly able and skilled staff to their rivals. To minimize losing competent staff, organizations must set aside sufficient resources and time to embed talent management initiatives across their firms. The purpose of this study was to examine the relationship between talent management practices and organizational performance in Islamic banks in Kenya. The researcher adopted the following factors: recruitment, selection, learning & development and employee retention to examine their impact on organizational performance. The study targeted 100 respondents from the three Islamic banks in Kenya and used multivariate regression analysis to examine the relationships between the study variables. The researcher concludes that the three independent variables; recruitment, selection and learning & development strongly impact organizational performance but not for employee retention which has no impact on organizational performance. Therefore, if these organizations are to achieve their desired objectives, they must adequately address the factors identified in this study.

Indian Life Insurance Market and Corporate Performances: A Study of Selected Firms

2016 ◽  
Vol 4 (1) ◽  
Author(s):  
Joy Chakraborty ◽  
Partha Pratim Sengupta
Keyword(s):  
Market Share ◽  
Life Insurance ◽  
Market Concentration ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Insurance Sector ◽  
Life Insurers ◽  
Company Limited

In the pre-reform era, Life Insurance Corporation of India (LICI) dominated the Indian life insurance market with a market share close to 100 percent. But the situation drastically changed since the enactment of the IRDA Act in 1999. At the end of the FY 2012-13, the market share of LICI stood at around 73 percent with the number of players having risen to 24 in the countrys life insurance sector. One of the reasons for such a decline in the market share of LICI during the post-reform period could be attributed to the increasing competition prevailing in the countrys life insurance sector. At the same time, the liberalization of the life insurance sector for private participation has eventually raised issues about ensuring sound financial performance and solvency of the life insurance companies besides protection of the interest of policyholders. The present study is an attempt to evaluate and compare the financial performances, solvency, and the market concentration of the four leading life insurers in India namely the Life Insurance Corporation of India (LICI), ICICI Prudential Life Insurance Company Limited (ICICI PruLife), HDFC Standard Life Insurance Company Limited (HDFC Standard), and SBI Life Insurance Company Limited (SBI Life), over a span of five successive FYs 2008-09 to 2012-13. In this regard, the CARAMELS model has been used to evaluate the performances of the selected life insurers, based on the Financial Soundness Indicators (FSIs) as published by IMF. In addition to this, the Solvency and the Market Concentration Analyses were also presented for the selected life insurers for the given period. The present study revealed the preexisting dominance of LICI even after 15 years since the privatization of the countrys life insurance sector.

scholarly journals A STUDY ON PREFERENCE OF POLICYHOLDERS ABOUT PUBLIC AND PRIVATE LIFE INSURANCE COMPANIES IN TIRUNELVELI DISTRICT

2018 ◽  
Vol 6 (4) ◽  
pp. 105-110
Author(s):  
I. Meenakshi
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Private Insurance ◽  
Marketing Strategies ◽  
Private Life ◽  
Insurance Companies ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Public And Private ◽  
New Policies

There are currently, a total of 24 life insurance companies in India. Of these, Life Insurance Corporation of India (LIC) is the only public sector insurance company. All others are private insurance companies. The Life Insurance Corporation of India (LIC) is the largest life insurance company in India and also the country's largest investor. More and more new private insurance companies are coming up year after year. And, these new and private life insurance companies adopt aggressive marketing strategies to introduce their products and to tap the potential policyholders. It is witnessed that new policies like ULIPs are introduced by these new private life insurance companies. It is in this concept this study has been undertaken to assess and analyze the preference of policyholders towards insurance services offered by public and private life insurance companies in Tirunelveli district.

An Empirical Study on the Quality of Services Offered by the Private Life Insurers in Burdwan

2016 ◽  
pp. 31-55
Author(s):  
Partha Sarathi Choudhuri
Keyword(s):  
Empirical Study ◽  
Service Quality ◽  
Sample Size ◽  
Service Provider ◽  
Service Sector ◽  
West Bengal ◽  
Private Life ◽  
Quality Of Services ◽  
Life Insurers

Service quality has become as one of the most important ensuing factors in the service sector. Considering various needs and requirements of the customers, like any other service provider life insurers also always trying to provide better quality of services to their customers in order to satisfy them. In this chapter, the researcher conducted a study on the quality of services offered by the private life insurers operating in the district of Burdwan, West Bengal, through proper investigation of the service quality structure in the present perspective. Here, accepted 661 usable responses with respect to the customers and 582 usable responses with respect to the insurers were considered as the sample size of the study and statistical package SPSS 16 as well as Bexley's Customer Retention Indicator Grid ware used to perform the analyses.

Why do employees respond to hospitality talent management

2019 ◽  
Vol 31 (10) ◽  
pp. 4021-4042 ◽  
Author(s):  
Enrique Murillo ◽  
Ceridwyn King
Keyword(s):  
Organizational Performance ◽  
Latin American ◽  
Management Practices ◽  
Brand Management ◽  
Structural Model ◽  
Talent Management ◽  
Employee Attitudes ◽  
Strategic Human Resource Management ◽  
Content Type ◽  
Relationship Orientation

Purpose In consideration that the purpose of talent management is to attract and nurture productive employees for the benefit of the hospitality organization, this study aims to examine why employees respond in such favorable ways. Recognizing beneficial employee behavior advances a hospitality organization through their ability to deliver an experience that aligns with the promoted brand promise, inspiration is drawn from both the strategic human resource management as well as the internal brand management literature. The power of this approach is illustrated through a survey of employees of a Latin American restaurant chain with a long-standing policy of values-based recruiting, inclusive talent management and progressive people management practices. Design/methodology/approach Informed by literature, employee perception of their relationship with the organization (i.e., relationship orientation) and alignment with the brand’s values (i.e., brand fit) were considered drivers of favorable employee attitudes and behavior as a result of hospitality talent management practices. These were hypothesized to positively influence employee confidence and motivation as reflected in organization-based self-esteem (OBSE) and brand motivation, which in turn drive employee brand-aligned behavior. A survey measured the variables of interest with the same employees over two time periods, matched using employees’ identification code, resulting in 199 complete surveys. The structural model was estimated using partial least squares (PLS). Findings Relationship orientation and brand fit were significant drivers of OBSE and brand motivation, respectively. In turn, they had a significant effect on employee brand-aligned behavior. Model estimation complied with all PLS quality criteria. Research limitations/implications Traditional talent management practices that tend to focus on the transactional benefits of the job/career can be strengthened by leveraging strong organizational relationships as well as engagement with the hospitality brand. In turn, employees have the confidence and motivation to exhibit brand-aligned behavior, a path to competitive advantage, which may also act as a buffer helping employees manage the stress of hospitality jobs. Originality/value Understanding why employees respond favorably to hospitality talent management practices, beyond simply transactional, monetary reasons, is important to designing relevant and timely initiatives that have the potential to enhance organizational performance.

Determinants of Derivative Usage in the Life and General Insurance Industry: The Australian Evidence

2003 ◽  
Vol 06 (04) ◽  
pp. 405-431 ◽  
Author(s):  
Marc De Ceuster ◽  
Liam Flanagan ◽  
Allan Hodgson ◽  
Mohammad I. Tahir
Keyword(s):  
Life Insurance ◽  
Insurance Industry ◽  
Cost Effective ◽  
Insurance Companies ◽  
Long Tail ◽  
Life Insurers ◽  
Market Risks ◽  
Life Insurance Industry ◽  
General Insurance ◽  
Standard Operating

Core business and financial market risks are not easily reduced by standard operating procedures in insurance companies. Derivatives theoretically provide a cost effective vehicle to hedge these risks. This paper provides an empirical analysis of the determinants of derivative usage as well as the extent of derivative usage in the Australian insurance industry in both life and general insurance companies for the period 1997–1999. Empirical results for the Australian life insurance industry in general confirm the findings of UK and US based research. However, the Australian general insurance industry does not appear to follow the conclusions of previous literature. Our results indicate that for life insurers, the determinants of derivative usage were size, leverage and reinsurance. For the general insurance industry the determinants were size and the extent of long tail lines of business written. As regards the determinants of the extent of derivative usage, these were size and asset-liability duration mismatches for life insurers. For the general insurance industry the determinants of the extent of derivative usage were size, the extent of long tail lines of business written, and the reporting year.

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