EMPLOYEE ATTRITION AND RETENTION IN LIFE INSURANCE SECTOR: AN EMPIRICAL STUDY
Journal Title: PARIPEX-Indian Journal of Research - Year 2015, Vol 4, Issue 2
Abstract
Insurance is a human intensive business and therefore the role of human resource is very crucial in the growth of an insurance industry. In present days cut throat market competition, a consistent increase in the rate of employee attrition is identified as a growing critical issue among the Indian life insurance service providers. The present paper is the outcome of a descriptive and empirical based study was conducted to find out the causes of attrition and suggests the useful measures for employee retention. A market survey was done on 85 employees of private Life Insurance Companies in Vijayawada city of Andhra Pradesh state. The respondents are selected from convenience sampling method that already left the organization and the existing staff. The data was analyzed by using SPSS. A problem of employee turnover mounting particularly at the lower level, most of the employees are satisfied with the company policies, work-culture but still improvement is required in some of the HR domain like performance appraisal, Job design, perks and benefits, Work life balance etc are the main findings of the study. The paper concludes that human resource is the most important asset and success of any organization ultimately depends on how efficient and effective its manpower is.
Authors and Affiliations
Dr. V. Tulasi Das, Ch. Vijayalakshmi
Keywords
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