Christ University Commerce Association

Human Resources Round 2

Indemnifying the Insurer

The insurance industry in India employs a large amount of human resource. However, the attrition rate in this sector is
extremely high. In financial year 2012-2013, over one million people quit their jobs as insurance agents in the private sector.

You work in HDFC and have been tasked to deal with this situation.

Here are some basic facts regarding this crisis :

1) HDFC spends 2 months training its new recruits, all the while paying them a stipend of Rs 15,000 per month.
2) 45% of the recruits employed as insurance agents quit within the first 6 months of employment.
3) The biggest reasons cited for them quitting are as follows:
- Lack of communication between management and insurance agents
- No scope for career development
- Lack of belongingness owning to the differential treatment between insurance agents and other employees.
They feel that they arent true employees.
- Pressure of meeting targets and deadlines
- Improper skill development and Ineffective Training Programme that leads to issues during client interactions.

This tendency of employees to quit causes huge losses in terms of human as well as operational resources. Its a waste of
time, effort and money which is detrimental to the company in such a competitive industry.

Using innovative yet effective techniques , find a way to solve this crisis.

Guidelines:

1) Teams of 3 must be formed. Keep in mind, these must be the same as HR round 1. If you didnt participate in that
round , youre to form a new team.
2) Provide necessary details namely: full names, class, register number and mobile number
3) You can use this sheet for answering and add additional sheets if necessary.