Pritam Final Project

7/31/2019 Pritam Final Project

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INTRODUCTION

1.1 TRAINING AND DEVELOPMENT

Training

It is an educational process. People can learn new information, re-learn

and reinforce existing knowledge and skills, and most importantly have

time to think and consider what new options can help them improve

their effectiveness at work. Effective trainings convey relevant and useful

information that inform participants and develop skills and behaviors that

can be transferred back to the work place. The goal of training is to create

an impact that lasts beyond the end time of the training itself. The focus is on

creating specific action steps and commitments that focus people attention

on incorporating their new skills and ideas back at work. Training can be

offered as skill development for individuals and groups.

In general, trainings involve presentation and learning of content as a

means for enhancing skill development and improving workplace

behaviors.

Organizational Development

Is a process that strives to build the capacity to achieve and sustain

a new desired state that benefits the organization or community and the

world around them. OD work implies creating and sustaining change. An

OD perspective examines the current environment, the present state, and

helps people on a team, in a department and as part of an institution

identify effective strategies for improving performance. In some situations,

there may not be anything wrong at the present time; the group or

manager may simply be seeking ways to continue to develop and enhance

existing relationships and performance.

In other situations, there may be an identifiable issue or problem that

needs to be addressed; the OD process aims to find ideas and


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solutions that can effectively return the group to a state of high

performance. These two processes, Training and Organizational

Development, are often closely connected. Training can be used as a

proactive means for developing skills and expertise to prevent problems

from arising and can also be an effective tool in addressing any skills or

performance gaps among staff .

Organizational Development can be used to create solutions to workplace

issues, before they become a concern or after they become identifiable

problem.

1.1.2 APPROACH OF TRAINING & DEVELOPMENT

Traditional Approach - Most of the organizations before never used to

believe in training .They were holding the traditional view that managers are

born and not made. There were also some views that training is a very

costly affair and not worth. Organizations used to believe more in executive

pinching. But now the scenario seems to be changing.

Modern approach - that Indian Organizations have realized the importance

of corporate training. Training is now considered as more of retention tool

than a cost. The training system in Indian Industry has been changed to

create a smarter workforce and yield the best results


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1.1.3 SCOPE OF TRAINING

Training can pave way for increasing quality both in the production and service

sectors.

Training can facilitate employee retention and faster customer service. If

designed and delivered well it will facilitate achievement of organizational

objective - the main purpose of organizational existence.

1.1.4 OBJECTIVES OF TRAINING AND DEVELOPMENT

The principal objective of training and development division is to make

sure the availability of a skilled and willing workforce to an organization.

In addition to that, there are four other objectives : Individual, OrganizationalFunctional, and Societal.

Individual Objectives help employees in achieving their personal goals,

which in turn, enhances the individual contribution to an organization.

Organizational Objectives assist the organization with its primary

objective by bringing individual effectiveness.

Functional Objectives maintain the departments contribution at a level

suitable to the organizations needs.

Societal Objectives ensure that an organization is ethically and socially

responsible to the needs and challenges of the society.


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1.1.5 PROCESS OF TRAINING AND DEVELOPMENT

Determine the mission of the organization.

Define the job functions and requirements of each employee.

Determine the training needs of the department.

Decide which are the most important objectives and priorities of the

organization.

Know how much time and money is available.

Evaluate the curriculum. Does it mirror the objectives, needs, and

mission of the Organization.

Evaluate the results of the training.


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1.1.6 IMPORTANCE OF TRAINING

Optimum Utilization of Human Resources Training and Development

helps in optimizing the utilization of human resource that further helps the

employee to achieve the organizational goals as well as their individual

goals.

Development of Human Resources Training and Development helps to

provide an opportunity and broad structure for the development of

human resources technical and behavioral skills in an organization. It

also helps the employees in attaining personal growth.

Development of skills of employees Training and Development helps in

increasing the job knowledge and skills of employees at each level.

Productivity Training and Development helps in increasing the

productivity of the employees that helps the organization further to achieve

its long-term goal.

Team spirit Training and Development helps in inculcating the sense

of team work, team spirit, and inter-team collaborations. It helps in

inculcating the zeal to learn within the employees.

Organization Culture Training and Development helps to develop and

improve the organizational health culture and effectiveness.

Organization Climate Training and Development helps building the

positive perception and feeling about the organization. The employees get

these feelings from leaders, subordinates, and peers.


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Quality Training and Development helps in improving upon the quality

of work and work-life.

Healthy work environment

Training and Development helps increasingthe healthy working environment. It helps to build good employee,

relationship so that individual goals aligns with organizational goal.

Health and Safety Training and Development helps in improving the

health and safety of the organization thus preventing obsolescence.

Morale Training and Development helps in improving the morale of the

work force.

Image Training and Development helps in creating a better corporate

image.

ProfitabilityTraining and Development leads to improved profitability and

more positive attitudes towards profit orientation.


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1.1.7 METHODS OF TRAINING

There are various methods of training, which can be divided into:

Cognitive and behavioural methods

Trainers need to understand the pros and cons of each method, also its impact

on trainees keeping their background and skills in mind before giving training.

Cognitive methodsare more of giving theoretical training to the trainees. The

various methods under Cognitive approach provide the rules for how to do

something, written or verbal information, demonstrate relationships among

concepts, etc. These methods are associated with changes in knowledge

and attitude by stimulating learning. The various methods that come underCognitive approach are:

lectures.

DEMONSTRATIONS.

DISCUSSIONS.

COMPUTER BASED TRAINING (CBT).

INTELLEGENT TUTORIAL SYSTEM(ITS).

PROGRAMMED INSTRUCTION (PI).

VIRTUAL REALITY.

Behavioural methodsare more of giving practical training to the trainees. The

various methods under Behavioral approach allow the trainee to behavior in a

real fashion. These methods are best used for skill development .


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The various methods that come under Behavioral approach are:

GAMES AND SIMULATIONS.

BEHAVIOR-MODELING.

BUSINESS GAMES.

CASE STUDIES.

EQUIPMENT STIMULATORS.

IN-BASKET TECHNIQUE.

ROLE PLAYS.

Both the methods can be used effectively to change attitudes, but through

different means.


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1.1.8 TRAINING AND DEVELOPMENT METHOD ADOPTED BYORGANIZATIONS

The training methods which are generally used in an organization are classified

into two:-

ON THE JOB:

On the job training places the employees in an actual work situation and makes

them appear to be immediately productive. It is learning by doing.

For jobs, that either are difficult to simulate or can be learn quickly by watching

and doing on-the job training makes sense.

COACHING.

MENTORING.

JOB ROTATION.

JOB INSTRUCTION TECHNIQUE.

OFF THE JOB:

Off-the-job training covers a number of techniques such as

CLASSROOM LECTURES.

FILMS.

DEMONSTRATION.

CASE STUDIES.

SIMULATION EXERCISES.

PROGRAMMED INSTRUCTION.


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1.1.9 INPUTS IN TRAINING AND DEVELOPMENTS IN AN ORGANIZATION

Any training and development program must contain inputs which

enable the participants to gain skills, learn theoretical concepts and help

acquire vision to look into distant future.

In addition to these, there is a need to impart ethical orientation emphasize on

attitudinal changes and stress upon decision making and problem solving

abilities.

Skills

Training, as was stated earlier, is imparting skills to employees. A worker needs

skills to operate machines, and use other equipments with least

damage or scrap. This is a basic skill without which the operator will not be

able to function. There is also the need for motor skills. Motor skills refer

to performance of specific physical activities. These skills involve training to

move various parts ofones body in response to certain external and internal

stimuli. Common motor skills include walking, riding a bicycle, tying a

shoelace, throwing a ball and driving a car. Motor skills are needed for all

employees from the clerk to the general manager. Employees, particularly

supervisors and executives , need interpersonal skills popular known as the

people skills. Interpersonal skills are needed to understand one self and others

better and act accordingly. Examples of interpersonal skills include listening,

persuading, and showing an understanding of others feeling.


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Development

Another component of a training and development is development which is less

skill oriented but stressed on knowledge. Knowledge about business

environment , management principles and techniques, human relations,

specific industry analysis and is useful for better management of the company.

Ethics

There is need for imparting greater ethical orientation to a training and

development program. There is no denial of the fact that ethics are largely

ignored in businesses. Unethical practices abound in marketing, finance and

production function in an organization. They are less see and talked about

in the personnel function. If the production, finance and marketing personnel

indulge in unethical practices the fault rests on the HR manager. It is his/her

duty to enlighten all the employees in the organization about the need of ethical

behavior.

1.1.10 HOW TRAINING BENEFITS :

Leads to improved profitability and/or more positive attitudes towards

profit orientation.

Improves the job knowledge and skills at all levels of the organization.

Improves the morale of the workforce.

Helps people identify with organizational goals.

Helps create a better corporate image.

Fosters authenticity, openness and trust.


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Improves relationship between boss and subordinate.

Aids in organizational development.

Learns from the trainee.

Helps prepare guidelines for work.

Aids in understanding and carrying out organizational policies.

Provides information for future needs in all areas of the organization.

Organization gets more effective decision-making and problem-solving

skill.

Aids in increasing productivity and/or quality of work.

Helps keep costs down in many areas, e.g. production, personnel,

administration, etc.

Develops a sense of responsibility to the organization

for being competent and knowledgeable.

Improves Labour - management relations.


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1.1.11 TRAINING AND DEVELOPMENT AS A SOURCE OF COMPETITIVE

ADVANTAGE

Bharti Axa derive competitive advantage from training and development.

Training and development program, as was pointed earlier, help remove

performance deficiencies in employee.

This is particularly true when

The deficiency is caused by a lack of ability rather than a lack of

motivation to perform,

The individuals involved have the aptitude and motivation need to learn

to do the job better, and

Supervisors and peers are supportive of the desired behaviors.

Training & Development offers competitive advantage to Bharati Axa by

removing performance deficiencies; making employees stay long; minimized

accidents, scraps and damage; and meeting future employee needs

There is greater stability, flexibility, and capacity for growth in an organization.

Training contributes to employee stability in at least two ways

Employees become efficient after undergoing training. Efficient employeescontribute to the growth of the organization. Growth renders stability to the

workforce. Further, trained employees tend to stay with the organization. They

seldom leave the company. Training makes the employees versatile in

operations. All-rounders can be transferred to any job. Flexibility is therefore

ensured. Growth indicates prosperity which is reflected in increased profits from

year to year. Who else but well-trained employees can contribute to the

prosperity of an enterprise. Even dissatisfaction, complaints, absenteeism, and

turnover can be reduced if employees are trained well. Future needs of

employees will be met through training and development programs.

Organizations take fresh diploma holders or graduates as apprentices or

management trainees. They are absorbed after course completion. Training

serves as an effective source of recruitment .Training is an investment in HR


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with a promise of better returns in future. In Bharti Axa training and

development pays dividends to the employee. Though no single

training program yields all the benefits, the organization which devotes itself to

training and development enhances its HR capabilities and strengthens its

competitive edge. At the same time, the employee's personal and career goals

are furthered, generally adding to his or her abilities and value to the employer.

1.1.12 HR PRACTICE AT BHARATI AXA

The guiding Human Resources principles at Bharti AXA are:

Clearly define scope of responsibilities and empower people to deliver.

Provide people with the means to develop their competencies.

Consider individual training and development a priority investment.

Build organizations that are conducive to teamwork and that involve

everyone.

Promote ongoing dialogue between managers and the people who

report to them.

Make cultural difference a key source of strength.


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1.1.13 TRAINING PROGRAM DONE BY BHARTI AXA LIFE

Training is must for every individual when he enters into the organization. Even

though the candidate has experience he also should get training.

Because the organization culture, values and beliefs are different from one

organization to other. The training program plays a key role in every

organization.

Training program at Bharti AXA Life Insurance is different at various

Levels. The company concentrates on sales manager, agents, operation

executives and telesales.

Training program for sales managers:

The training program duration is 15 20 days.

Providing sales quota.

They get training on product knowledge.

Motivating and encouraging Advisors

Training program for advisors:

The training program duration is 7 10 days

They get training on industry behavior.

Mock sales.

They get training on product knowledge

How to convince the people.


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Objection Handling

Training program for operations executives:

They get training on customer database files

Taking care of the customer files

Training in product information and documentation

Information regarding renewals to customers.

Required skills for employees in Bharti AXA Life Insurance:

Interpersonal skills.

Excellent communication skills.

Understanding nature.

Aggressiveness.

Convincing skills.


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COMPANY PROFILE

Bharti AXA Life Insurance Company Ltd is a joint venture between Bharti, one

of Indias leading business groups with interests in telecom, agriculture

business and retail, and AXA, world leader in financial protection and wealth

management. The joint venture company has a 74% stake from Bharti and 26%

stake of AXA. The company launched national operations in December 2006.

Its Head office is in Gurgaon (east), Mumbai, India. Today, we have over 5200

employees across over 12 states in the country. Our business philosophy is

built around the promise of making people "Life Confident". As we expand our

presence across the country to cater to your insurance and wealth

management needs with our product and service offerings, we continue to bring

'life confidence' to customers spread across India. Whatever your plans in life,

you can be confident that Bharti AXA Life will offer the right financial solutions

to help you achieve them.

2.1 VISION

To be a leader and the preferred company for financial protection and wealth

management in India.


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Graph 2.1

2.2 STRATEGY

To achieve a top 5 market position in India through a multi-distribution,

multi- product platform.

To adapt AXA's best practice blueprints as a sound platform for

profitable growth.

To leverage Bharti's local knowledge, infrastructure and customer base.

To deliver high levels of returns to shareholders.

To build long term value with our business partners by enhancing the

proposition to their customers.

To be the employer of choice and to attract and retain the best talent in

India.

To be recognized as being close and qualified by our customers.

VALUES

PROFESSIONALISM

TEAM INNOVATIO

INTEGRIT

PRAGMATISM


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2.3 ABOUT BHARTI GROUP

Bharti Enterprises is one of Indias leading business groups with interests in

telecom, agriculture business, insurance and retail. Bharti has been a

pioneering force in the telecom sector with many firsts and innovations to its

credit. Bharti Airtel Limited, a group company, is one of Indias leading private

sector providers of telecommunications services with an aggregate of 60 million

customers, spanning mobile, fixed line, broadband and enterprise services.

Bharti Airtel was ranked amongst the best performing companies in the world in

the BusinessWeek IT 100 list 2007. Bharti Teletech is the countrys largest

manufacturer and exporter of telephone terminals. Bharti has a joint venture

with ELRO Holdings India Ltd. Field Fresh Foods Pvt. Ltd - for globaldistribution of fresh fruits and vegetables. Bharti also has a joint venture -

Bharti AXA Life Insurance Company Ltd. - with AXA, world leader in financial

protection and wealth management. Bharti has recently forayed into the retail

business under a company called Bharti Retail Pvt. Ltd. It also has a joint

ventureBharti Wal-Mart Private Limited with Wal-Mart, for wholesale cash-

and-carry and back-end supply chain management operations.

2.4 ABOUT AXA GROUP

AXA Group is a worldwide leader in Financial Protection. AXA's operations are

diverse geographically, with major operations in Western Europe, North

America and the Asia/Pacific area. AXA had Euro 1,315 billion in assets under

management as of December 31, 2006. For full year 2006, IFRS revenues

amounted to Euro 79 billion, IFRS underlying earnings amounted to Euro 4,010

million and IFRS adjusted earnings to Euro 5,140 million. The AXA ordinary

share is listed and trades under the symbol AXA on the Paris Stock Exchange.

The AXA American Depository Share is also listed on the NYSE under the

ticker symbol AXA.


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2.5 ABOUT ASIA PACIFIC HOLDINGS

AXA Asia Pacific Holdings Ltd (AXA APH) is listed on the Australian stock

exchange and is 52.3% owned by AXA SA. AXA APH is responsible for AXA

SAs life insurance and wealth management businesses in the Asia -Pacific

region. It has operations in Australia, New Zealand, Hong Kong, Singapore,

Indonesia, Philippines, Thailand, China, India and Malaysia. AXA APH had

A$106.4 billion in total funds under management and administration at 30 June

2007 and reported a profit after tax before non-recurring items of A$374.0

million for the six months ended 30 June 2007.

2.6 DEPARTMENTS OF BHARTI AXA

2.6.1 Legal

The legal department, looks after all the legal matters right from due diligence,

to drafting agreements and documents to statutory compliances and corporate

governance.

2.6.2 Compliance

The main function of this team is to ensure compliance with laws and

regulations, product design, commission structures, drafting of policy bonds

and sales models. It liaises with the Insurance Regulatory and Development

Authority (IRDA).

2.6.3 Internal Audit

The team provides assurance to the management and shareholders on control

environment, emerging risks and recommendations to mitigate risks and

strengthen controls. It is responsible for swift detection and closure of fraud and


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whistle-blower cases. They also play a key role in contributing to an effective

corporate governance framework.

2.6.4 Finance Control

The main function of the team is to design controls and processes for recording

of accurate financial information. It also implements the mandate of

management with respect to financial control policies. They also strive to build

long-term relationships with internal and external customers.

This team is primarily responsible for payouts to all the company stakeholders,

be it - employees, vendors, partners, agents or the customers. They manage all

the outward payments of the company, from customer claims to employees'

allowances.

2.6.5 Infra and Admin

The department is responsible for a diverse range of functions. This includes

property sourcing, which includes its legal clearance; vendor management,

which includes allocating project work to vendors, empanelling them for branch

rollout; travel desk, monitoring the budget and much more.


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2.7 ACTUARY PRODUCTS

The products and the actuary team is the floor workshop for new products in

any life insurance company. They are responsible for developing and releasing

new and relevant products for our customers.

The products team is responsible for conceptualization of the product idea by

identifying various gaps and opportunities in the Actuary space. After the idea

generation, the actuarial and the pricing team work to get and give a proper

construct to the product. Post that the products team work closely with the

Actuary teams in conducting various consumers and distributor researches to

fine tune the product construct and get a product ready that is well accepted by

the Actuarys. After the final product is developed, along with the Actuary team,

product team is responsible for developing the Actuary launch kit for the

product.

2.7.1 Responsibilities towards stake holders

1. Towards Policy holders

Price products which provide value to the policyholders.

Ensure that the features of the products sold by the company are clearly

defined and illustrated in the benefit illustrations and all sales related

material.

Ensure that the companys administration system calculates benefits to

the policyholders in exactly the same way as written in the policy bond.

Ensure that the company sets aside reserves to meet future policy

liabilities.

Declare bonuses in participating products which are in line with

policyholders reasonable expectations.


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2. Towards Share holders

Price products which provide value to the shareholders.

Try to minimize the financial impact of the risks associated with the

products.

Ensure that shareholders are aware of the residual risks which cannot

be managed and the impact it will have on the financials of the company.

Assess the capital required for the company through business planning

Regularly report to the shareholders about the hygiene of the business

written by the company covering the following:

Persistency of the policies sold

Profitability of the in force policies

Solvency position of the company

Mortality experience

3. Towards Regulators

Ensure that the products priced are in accordance to the Insurance

Regulations.

Ensure that the specifications of the products sold are not different from

the product approved by the regulators.

Regularly report the following to the regulators:

Solvency position of the company.

Reserves held by the company to meet future policy

liabilities.

Reinsurance strategy adopted by the company and the

amount of business reinsured.

Mortality experience


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2.8 MCKINSEYs 7s FRAMEWORK OF BHARTI AXA

1. Structure

The Structure of the organization represents the hierarchy of the organization. It

represents the reporting system of the organization. Thus, organization

structure is the pattern of relationships among various activities and positions.

From the structure or organ gram of the organization we can have clear picture

of the responsibility of the personnel working in the organization. It refers to the

differentiation and integration of activities and authority, role and relationships

in the organization. Hence organization structure is the basic framework within

which the managers decision-making behavior takes place.

In Bharti Axa the structure is from top to bottom, which means to say that they

follow a vertical structure in the organization. This structure also ensures that

similar activities are grouped together in the organization, thus ensuring

specialization of activities, easier control over functions, easier way for

pinpointing needs of the managers and maintaining the relative importance of

functions in the organization.

CEO

ASSOCIATE VICE- PRESIDENT/VICE- PRESIDENT/

SENIOR VICE-PRESIDENT

ASSOCIATE MANAGER/MANAGER

EXECUTIVE/SENIOR EXECUTIVE


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2. System

A system means all the procedures, formal and informal, that make the

organization go day-by-day, year-by-year. The organization is an open system

organization because they interact with environment. From the very nature ofbusiness they carry out the open system is the best option at hand.

The developments in Information System are working wonders in all fields of

activity. It becomes possible to send and receive information almost

instantaneously. If circular do not reach the agents on time or doubts are not

cleared quickly, or the agent does not have details of new plans announced in

the press, the agents may face awkward situations with the prospects. These

problems can be totally avoided with the use of IT. Insurers traditionally, have

been quick to adapt latest advances in technology. This is happening in the

area of IT as well. The extent of IT application will vary between insurers.

With the help of IT applications Bharti Axa is in a better position to market their

products online. The introduction of ABASCUS for the purpose of premium

calculation is blessing in disguise. It has made the functionality of insurance

business more vivid and at the same time transparent to the customers.

3. Strategy

Strategy sets out vision, mission, objectives, major action plans and policies of

the entire enterprises. These set out the picture of the strategy, the SBU

strategy and the functional strategies. This sets out a broad frame work to

guide managers at all levels in all functions in their specific short term

objectives.


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Bharti AXAs vision is To be a leader and the preferred company for financial

protection and wealth management in India. In order to achieve the following

strategies have been chalked out:

To achieve a market position among the top 5 in India through a multi-distribution, multi-product platform.

To adapt AXA's best practice blueprints as a sound platform for efficient

and profitable growth.

To leverage Bharti's local knowledge, infrastructure and customer base.

To deliver high levels of shareholder return.

To build long term value with our business partners by enhancing the

proposition to their customers.

To be the employer of choice to attract and retain the best talent in India.

To be recognized as being close and qualified by our customers.

4. Style

One element of mangers is how he/she chooses to spend time, another aspect

is symbolic behavior. This suggests a second attribute that is by no means

confused to those at top. The style is a reflection of culture, more then to

change the organization or performance.

The Bharti Axa is basically a participating and democratic type of system.

Before taking any decision meeting is conducted and the final decision is takenwith the consent of all. Every employee gets change to five his/her opinion.

Every employee can participate in decision making of the organization. The

final decision is taken with consent of all.


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The Bharti Axa is a unit has a union body and hence it takes people into

confidence. It does not take any decision unilaterally. Since every employees

ideas and opinions are taken by the managers before arriving at a final decision

effective decisions can be taken. Managers are evaluated on the basis of

quality of their decision making. Hence participative and democratic type of a

system is the best system for such a big organization like the Bharti Axa.

5. Staff

Organization requires the service of a large number of personnel. These

personnel occupy the various positions created through the process of

organizing. These personnel comprises of the staff of the organization.

Each position of the organization makes certain specific contributions to

achieve organizational objectives. Hence the person occupying the position

should have sufficient ability to meet its requirements. Hence staffing is

necessary to match jobs and the individuals.

In Bharti Axa, it has roughly around 15 permanent workers and more than 125

agents are there who are working for company. Agency Manager can manage

the Unit Manager, Clerical Staff as well as Insurance agents.

6. Shared Value

The values of the company are:

Professionalism:

To provide an outstanding service to the customers

so that they return for more.

Pragmatism: To approach practically too every problem and provide

lasting solution to it.


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Innovation: Recognizing the different needs of our customers, we will

be offering a range of innovative products to meet these needs

Integrity: Steadfast adherence to a strict moral or ethical code.

Team Spirit: To foster the feeling of pride and loyalty that exists among

the members of a team and that makes them want their team to do well

or to be the best.

7. Skill

The Bharti Axa is having roughly around 6 departments, which has personnel

with variety of skills .They should have the ability to take right decisions. They

should manage the personnel and make then carry out their responsibility. The

various designations include Branch Manager, Manager of agency and

advisors.

The Bharti Axa unit has personnel with a variety of skill for different fields they

have personnel with different talents, skills and experience. It is a participative

democratic system so every decision is taken after discussion with the

personnel. Hence the personnel have good communication skills.

A corporate communication department also known as public relation

department is also there in the Bharti Axa. It takes care in building the image of

the organization both by external communication and internal communicationand also having development department. It increasing strength of the

employees and arranging programs.


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2.9 SWOT ANALYSIS OF BHARTI AXA

1. Strengths

The benefit of brand name and brand affinity of Bharti Airtel, the largest

telecom player in India.

The local market knowledge and region-specific marketing skill as part of

advantage of the huge presence of Bharti Airtel in India.

Association with AXA Group, one of the leaders in global insurance

business and having great managerial and asset management expertise,

to sail through the extremely competitive market condition.

2. Weaknesses

One of the late entrants in the market when other private players had

already made up their mark in the market.

Thin distribution network all over the nation.

No distinctiveness in the products being offered.

Lack of financial market background of the parent company does not

elicit confidence in the customers.


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3. Opportunities

Largely untapped rural market and under-covered urban and semi-urban

markets.

Strong resurgence of the life insurance market due to demand of ULIP

based products.

In an insurance market flush with banal kind of products of different life

insurers, any innovative financial instrument with some form of insurance

as one of its features and promising value for money can give the

company competitive advantage over its peers.

4. Threats

Competitive pricing of life insurance products by competitors may further

reduce the profitability margin.

New players to crowd the market and increase competition.

The credibility of public sector life insurer, i.e. LIC is still unmatchedwithin the customers.

Uncertainty about future policy of the government regarding FDI limit in

the sector, which if liberalized, would infuse capital for expansion, but

would also add competitors and their capital strength.


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RESEARCH METHODOLOGY

3.1 STATEMENT OF THE PROBLEM

"A Study on Training and Development"

Training and development play vital and important role in any given

organization in the modern day. Considering it, my study On training and

development in Bharti Axa gives me a scope to know in detail about the

different techniques and method adopted by Bharti Axa to train their employees

very effectively and efficiently.

The problem statement included various factors such as knowing the training

and development facilities to the employees and also to know what best effort

has been put in by the firm to improvise it so that it can be utilized effectively

and efficiently by the employees in the organization.

Bharti Axa being a firm with large number of employees should give more

concentration On its employees with regard to train them. Some amount of

concentration has been given to the training of employees, however the

consistency needs to be maintained in order to make Sure all the employees

are well knowledged and are in a better position to carry on their work with

much more effectiveness in case of any unexpected issues Or obstacles

3.2 SCOPE OF THE STUDY

The development of any organization depends On the employees. For

organizational productivity training and development assumes great

significance.

The study is conducted to know the level of knowledge and skills given

to the employees in the organization.


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This will help the management to know the satisfaction levels of

employees and they can take measures to increase productivity.

3.3 OBJECTIVES OF THE STUDY

Following are the objectives of the study with special reference to Bharti Axa

Life Insurance Company Ltd.:

To examine the effectiveness of training in overall development of skills

of workforce.

To examine the impact of training on the workers.

To study the changes in behavioral pattern due to training.

To compare the cost effectiveness in implanting training programs.

3.4 METHODOLOGY

This part explains the methodology used in this study. The methodology

includes data and sources of data, sample size, area of the study and

framework of analysis.

3.4.1 Data Collection

PRIMARY DATA: These include the data collected from the respondents by

administering a structured questionnaire and also through observations,

interviews and discussion with management team.

SECONDARY DATA: These data has been collected from textbooks, records

of Bharti Axa life insurance, and internet.

Research Design: Descriptive in nature


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3.5 LIMITATIONS OF THE STUDY

Some of the information given by the respondents may be bias.

Could not able to collect the information from all the employees of

organization

Analysis is done on the assumption that respondents have given correct

information through the Questionnaires.

Due to the limitation of the time the research could not be made more

detailed.

:


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DATA ANALYSIS

Q1. To whom the training is given more in your organization ?

Table no. 1: Table showing the people who are getting training

Opinion No. of respondent Percentage

Senior staff 4 8%

Junior staff 9 18%

New staff 22 44%

Based On requirement 15 30%

Total 50 100%

Graph no. 1: Graph showing the percentage of people getting training

INTERPRETATION: From the above chart we can interpret that maximum

training are given to new staff and very less training are provided to senior

staff because they has to brush up their current performance through training

where as the people who joined new to the organization has to undergo

training to know the work culture and responsibilities.

0%

5%

10%

15%

20%25%

30%

35%

40%

45%

50%

Senior staff Junior staff New staff Based On

requirement

Percentage

Percentage


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Q2. What mode of training method is normally used in your organization ?

Table no. 2: Table showing training method done by organization

Opinion No. of respondents Percentage

Job rotation 14 28%

External training 10 20%

Conference/discussion 8 16%

Programmed instruction 18 36%

Total 50 100%

Graph no. 2: Graph showing percentage with regards to training method

INTERPRETATION: From the above chart we can interpret that most of the

time programmed instruction training method is used for the employees to done

the training program in a systematic way and apart from that job rotation is

used to make the employees fill with higher responsibilities and how they make

use of it.

0%5%

10%15%20%25%30%35%40%

Percentage

Percentage


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Q 3. How well the workplace of the training is physically organized ?

Table no.3: Table showing the opinion regarding workplace of training


Excellent 6 12%

Good 34 68%

Average 10 20%

Bad 0 0%

Total 50 100%

Graph no.3: Graph showing percentage of the people regarding the training

workplace

INTERPRETATION: From the above chart we can see that most of the time

training workplace is physically organized in a very good way.

0%

10%

20%

30%

40%

50%

60%

70%

80%

Excellent Good Average Bad

Percentage

Percentage


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Q 4. What are the conditions that have to be improved during training

Session ?

Table no. 3: Table showing the training condition

Opinion No. of

respondents

Percentage

Redesign job 8 16%

Remove

interference

17 34%

Reorganize the

work place

9 18%

Upgrade the

material of

training

16 32%

Total 50 100%

Graph no. 3: Graph showing the percentage of each training condition

INTERPRETATION: From the above chart we can see that during

training session the interference created by the other employees has

shown a big issue in training session and next comes the upgradation of

the material .

0%

5%

10%

15%

20%

25%

30%

35%

40%

Redesign the

job

Remove

interference

Reorganize the

work place

Upgrade the

material of

training

Percentage

Percentage


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Q 5. Whether the training conducted by the management is on the job or off

Off the job ?

Table no. 5:Table showing the training of organization


On the job 33 66%

Off the job 8 16%

Both 9 18%

Not applicable 0 0%

Total 50 100%

Graph no.5: Graph showing the percentage over training method

INTERPRETATION: From the above chart we can analyzed that most of the

time on the job training method is preferred for more experience to live work.

0%

10%

20%

30%

40%

50%

60%

70%

On the job Off the job Both not applicable

Percentage

Percentage


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Q 6. Does the training program influence the motivation level ?

Table no.6: Table showing the motivation level from training


Highly motivated 22 44%

Somewhat motivated 28 56%

Not at all motivated 0 0

Total 50 100%

Graph no. 7: Graph showing the percentage of motivation level from training

INTERPRETATION: From the above chart we can analyzed that employees

are somewhat motivated from the training and very few a times they get highly

motivated because they dont take training seriously.

0%

10%

20%

30%

40%

50%

60%

Highly motivated Somewhat

motivated

Not at all motivated

Percentage

Percentage


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Q 7. Does regular training sessions are arranged in your organization ?

Table no.7: Table showing the response against regular training


Yes 45 90%

No 5 10%

Total 50 100%

Graph no. 7: Graph showing the percentage of response against training

sessions

INTERPRETATION: From the above graph employees are happy with the

regular training process and very few are unhappy because it gives them a

chance to improve their performance in which they are lagging behind.

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Yes No

Percentage

Percentage


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Q 8. How many promotion you had after your training ?

Table no.8: Table showing no of promotion after trainingOpinion No. of respondent Percentage

One 32 64%

More than one 12 24%

No promotion 6 12%

Total 50 100%

Graph no.8: Graph showing the percentage regarding promotion after training

INTERPRETATION: From the above graph it can be analyzed that after training

people are having only one promotion and very few no promotion because

very few people are able to utilized their learnings from training which makes a

difference.

0%

10%

20%

30%

40%

50%

60%

70%

One More than One No promotion

Percentage

Percentage


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Q 9. What are the general complaints about training sessions ?

Table no.9: Table showing complaints about training session


Take away precious

time

15 30%

Too many gaps

between sessions

14 28%

Training sessions are

unplanned

16 32%

Boring and not useful 5 10%

Total 50 100%

Graph no.9: Graph showing percentage of complaints

INTERPRETATION: From the above graph it can be analyzed most of the time

the training sessions are mostly planned and training programs are set with too

many gaps in between which makes trainee people the training process boring.

0%

5%

10%

15%

20%

25%

30%

35%

Take away

precious time

of employees

Too many gaps

between

sessions

Training

sessions are

unplanned

Boring and not

useful

Percentage

Percentage


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FINDINGS

Most of the employees were experience which makes them efficiency in

work.

The organization considers the training as a part of their competitive

strategy.

The trainings are provided more to the new staff.

The main problem behind the training programs are due to non

availability of skilled trainer to train the employee.

Most of the time training are instruction based..

Appraisal are given to employees in order to motivate them for training..

Training program is mostly conducted on-the job.

Training contributes to the personal growth of the employee.

Employees implement the training process with in less period of time.


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CONCLUSIONS & RECOMMENDATIONS

6.1 CONCLUSION

In todays corporate world, it is very important that the managers should plan,

organize, direct and control the procurement, development, compensation,

integration, maintenance and separation of work force in order that the

organization may accomplish its designed objectives. From this point of view,

the work force is an instrument of the organization, and the HR managerprovides and shapes that instrument. Hence, the HR managers must assist the

organization in adopting the changes in mix and values. But to get the desired

result, we must depend .On HR to carry the day. We must select competent

individuals, develop, motivate, retain and provide them with the organizational

culture and process that will allow them to succeed.

I conclude that through proper training an employee can become multi skilled

and this I have practically noticed through my analysis. Thus, training helps to

develop knowledge, skill and altitudes necessary to perform job related task.


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6.2 RECOMMENDATION

Training and development process should be done entirely in house

activity to reduce the cost of organization.

Stress related training should also be given to the employees.

Effective communication system should be built in organization which

will enhance organizational effectiveness.

Management should introduce suggestion scheme and should also

invite suggestions from employees.

Employees should be involved in decision making process of an

organization.

Proper recognition system should be adopted so that employees

can continue to perform better.

Training program should be properly given.

Workplace should be properly organized.

Proper infrastructure facilities should also be there.

Documents

Pritam Final Project