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Industry Expectations


In recent past, elevated job expectation, higher salary expectation and inadequate skill in life insurance industry has surfaced a challenge of higher manpower attrition for every company. In particular, front line sales professionals are changing their jobs every now and then. In cut throat competition it is very important for company to acquire strong market share and achieve break even point as early as possible, which has fabricated higher expectations from sales team. On the other hand it is equally challenging for sales team to understand their role before they start delivering the result. According to me training on recruitment & team development is very essential for them before they actually get in to the field. On must understand the fact that, have they recruited any one in their past career? Do they have adequate skill and experience of recruiting and subsequently developing team members? To become successful in life insurance, one must have adequate knowledge and skill of recruitment & development along with sales techniques. To me it’s not even sales techniques but one should have sufficient knowledge of financial planning. Because it’s not selling an insurance policy but more to do with family’s financial security and planning to meet uncertainties of life. But these areas have been overlooked by most of the organization, which in turn has created uncontrollable manpower attrition of front line employees. This will lead to higher manpower acquisition and training cost, impacting profitability of the companies and in turn it will also affect stake holder’s returns on their investment.

The only solution to this situation is to have such institutes which produce ready to deliver sales staff before they recruited by an insurance company. This will help every candidate to understand the industry first and then helps him / her to acquire necessary knowledge and skill which are essential to deliver and meet organization’s expectations from very beginning. This will ensure long term retention and proper growth of an employee in the organization and will have long term impact on individual productivity and organizational profitability.

One Response

  1. Recruitment

    It is really essential to understand the places where we need the process of training. I am really agreeing with the view that  it is and it should be that going through the utmost point of the recruitment process is essential in determining the major strength in the market. Further it is beneficial for the team to work for together to face the challenges and cut throat competition in the market to obtain a regular stand. So the next step after the recruitment process is the training process where there should be a plan to understand the new comers and give them a particular knowledge of the company.Recruitment CRM

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