EUREKA FORBES LTD.

For 25 years now, Eureka Forbes has gifted health and happiness. Ensuring
that their products and services bring joy to their customers. For Life. Over 6000
employees. 941 service centresEureka Forbes is the organization, which first introduced the
concept of direct selling in India.
Nowadays, Eureka Forbes is the market leader in India in water purification
systems (over 70% market share), vacuum cleaners (over 90% market share) and air
purifiers. Today it is India's largest direct selling organization with a strong direct sales
force of over 7,000 people

At the time of launch in India there was no other company in the market for
water purifiers and vacuum cleaner . Now various new companies emerged. They were the
initiaters of direct marketing in India.Thus they had the advantage.´They recruited young
men- from middle class families in their early 20s straight out of College. Attitude,
interpersonal and communication skills were a pre-requisite. The company termed them as
Eurochamps.After recruiting they had to go through training to get knowledge about
company products , functional skills. These sessionswill be both in class and onfield.
Training is an ongoing phase with mentoring and pairing with seasoned marketing people.
Sometimes new salesmen are recruited using Friend get a friend scheme. And in some
cases potential Eurochamps are located during sales call at customers house.The customer
is not aware that he may have some use for the product. The companycreated a need for the
product by bringing on the theme of clean environment. The salesman will make a cold call
initially and try to woo the customer with logic andreason If he is successful in his attempt
he will arrange for a demo . On closing thedeal order will be placed and the product is
delivered in two days. The man with a case became a second logo for the company.

RECRUITMENT POLICIES
· Needed highly motivated sales personnel with drive to excel
· High end and complex product needing higher product interaction
· Targeted young men from middle class in early 20;s
· Extroverted, enthusiastic, outgoing and communication skills
· Financially needy made them driven and young age made them enthusiastic
· Process needs to be subjective as the process needs to find people with right attitude
· Recruited through colleges through recruitment sessions
· Second tier college students may not have any better placement offers and would
take up offer
· Through friend get a friend
· A current euro champ knows the qualities needed and would be able to recommend
acquaintainces with qualities
TRAINING
Training is basically carried out in the following areas:
Market information i.e. about customer profile, market updates, and computer integrated
manufacturing applications, etc
Sales Process i.e. how to deal in the situation of conflicts with customer, coaching on
undesirable behavior, supplement skills developed during live courses
Product information, such as, product usage, applications, system description, product
description, comparison with competitor’s products, etc
Policies and procedures, i.e. about sales contests, incentive plans on achieving targets,
annual bonuses, winners receiving the best salesperson award to motivate the sales force
The following areas also require equal emphasis
The job of a saleman is physically demanding involving lots of travelling and long hours
Its also psychologically demanding as lots of negotiations, customer handling takes place
Demoralizing and insulting responses sometimes seem to discourage and put the patience
of the salesmen to the test
Pressure to sell more and more as 2/3rd of income is through sales incentives
These reasons make Euro Champs drop out after 1 yr on an average
Eureka forbes limited should train team leaders to be able to recognize the signs of
frustrations
Introduce an attractive TA package which adequately compensates travelling efforts
Introduce psycho-therapist services to be able to handle frustrating and insulting responses
beter
Change compensation structure which focuses on other aspects of jobs too and reduces
pressure
Introduce Gym or swimming pool, etc for after office relaxation

COMPENSATION PLAN & MOTIVATION

From the outset, every employee is called ‘Eurochamp’ and consistently engaged and
motivated through the four pillars of its unique people development strategy - Earning,
Learning, Pride and Fun. Designed to enable its people to realize their potential and
aspirations, it makes them invaluable partners in progress for they become the drivers of its
strategy, forging lasting bonds with customers as ‘friends for life’.
The only limit to employees’ earnings is in their minds as it is their performance which
determines their earning
Compensation for the sales force is squarely linked to performance with fixed and variable
components for all levels (the fixed to variable ratio varies for each level). Performance is
regularly monitored through Performance Review and Development Plan (PRDP), which is
applicable for all levels of Eurochamps. This unique tool tracks performance not just on
sales numbers but on various competencies and developmental milestones as well.
attractive bulletins are published every month that give regular recognition to the top
achievers in sales till date. This generates a lot of excitement as sales people vie with each
other to find a place in the coveted achievers’ clubs - Club 100, the company’s most
prestigious Champions’ Club which recognizes the top 100 sales people, rewarding them
with a holiday-cum-recognition at exotic locales like Dubai, Macau & Hong Kong as well
as the Silver Circle Club, which honors the best among the best in sales and where about
1,000 top sales people get personally felicitated with great fanfare by the Top Management.
Five time (consecutive) qualifiers at the Silver Circle Club are honored as Living Legends
of the company and earn a week-long trip to South-East Asia. 10 time (consecutive)
qualifiers are celebrated as Pioneer Living Legends and rewarded with a trip to Europe
It is strongly believed that if money was the sole motivator for working, the company
wouldn’t have retained some of the best employees. When an employee achieves
something extra from others, he needs a pat on the back, an appreciation that lets everyone
know that he has done a remarkable job. This is the philosophy at Eureka Forbes that
makes Eurochamps go beyond their roles and raise the bar of performance. The recognition
certificates on landmark sales serve this very purpose. They also serve as stepping stones
that spur the sales people to cross the next landmark. In fact, each passing sale motivates
them to perform better.
The Circle of Champions has been specifically created to provide Eurochamps with a
continuous platform to pursue higher and higher levels of excellence. It has had a
considerable impact on employee retention. On confirmation, a Eurochamp enters the blue
level of the Circle and, as her / his performance accelerates, journeys up to the other levels
(bronze to silver to gold), earning greater recognition and rewards at each level. Special
unique identification has been designed for each level along with training and learning
opportunities to enhance performance and growth. The Circle of Champions helps
Eurochamps put their careers on the fast track and lets them bring their aspirations and
dreams to fruition

LIFE INSURANCE COMPANIES

When it comes to life insurance companies or other insurance companies, the business
of the company depends heavily on the sales force , the agents who sell the policies. The
following data has been based on the recruitment policies, training, compensation plan and
motivational tactics of the LIFE INSURANCE CORPORATION OF INDIA
LIC of India or Life Insurance Corporation of India is perhaps India’s largest financial
institution. It came into existence when a large number of life insurance companies were
taken over by government of India. The nationalization of private insurance companies
started a new era of insurance business i.e. lic of India. In its early years, being a monopoly
public sector company, it did not face any competition. After opening the sector to private
players, lic of India faced some heat of competition. The large field force of Development
Officers and Agents were not properly trained in soft skills viz. communication, human
relation, customer service etc. There was no human touch in these sales personals.
Though LIC has its own training department yet it felt the need of hiring professionals
from outside the organization. It was the time when TS got the training assignments
The main asset of LIC is its staff nearly 1.24 lakh employees, over six lakh work force are
working at 2048 branches, 100 divisional offices, 07 zonal training centers, 35 sales
training centers
RECRUITMENT
Life Insurance Corporation Recruitment 2011 - Life Insurance Corporation Recruitment
invites candidates from advertisement published on the companies website for recruitment
For the purpose of recruiting the following requirements and qualifications are to be met
Details

Direct Sales Executives

Vacancies - 617 Posts
Age - 21 - 35 years as on 01.05.2011
Educational Qualification -
Bachelor’s Degree of a University established in India under a statute.
Preference may be given to those applicants who possess a Bachelor Degree or Diploma in
Marketing /Management.
Good working knowledge of English and also one Regional language preferably local
language is desirable.
Knowledge of soft skills such as Power Point / Word / Excel would be additional
advantage

Training
Life Insurance Corporation's training programme for agents, called ‘post-recruitment
orientation', with 25 life insurance companies in the market selling almost similar products,
the distinguishing factor of companies would be on the competence level of
agents.Therefore training of agents plays a crucial role has resulted in agents' productivity
going up by 30 per cent.
Earlier, the minimum requirement for agents was to insure only 12 lives a year but from
August last year, the requirement has been revised to collect first year annualised premium
over Rs 1 lakh
The agents go through both generic and specific, professional programs that help them
remain well-informed and knowledgeable about the company’s products in the market.
There is a further focus on soft skills such as communication, managing long-term
relationships and selling skills, which are very relevant in a service-driven industry like life
insurance.

State of the art infrastructure training facilities coupled with an excellent faculty, guarantee
an exceptional learning environment. For agents who might be occupied with their daily
business/professional routines.

A 17-18 day training schedule covers the mandatory IRDA training requirements and LIC
product-training module. Revision session ensure that the candidates thoroughly
understand the course contents and are well prepared for the licensing examination.
Theoretical training is interspersed with practical appointment settings with potential
customers, giving agents a feel of how their business will work from the very first day. All
through, the Development Officer and the management provide continuous support to the
advisors in achieving independence towards garnering businesspany are referred to as
captive agents
Career development is emphasized upon from the very day the agent joins the system.
Though individual meetings with his or her Development Officer, the agent can discuss
various issues related to business development and career enhancement. Expectations from
the organization in terms of chalking a career in the insurance industry are also discussed.

Absorption into the management is another career enhancement option provided at LIC.
This program helps agents build a full time career as a Development Officer in the
organization, offering great potential for managing a team of agents and personal
development.

Compensation and motivation

LIC agents are constantly recognized and rewarded for their performance. Numerous
competitions all year round promote healthy competition amongst agents and recognition
for their efforts. Depending on the level of business the agent achieves in a year, he or she
can become a member of various clubs such as the Corporate Club, the Chairman’s club,
etc. Each of these clubs have specific performance criteria for qualification and members of
these clubs are entitled to attend seminars held at exotic international and domestic
locations each year. Advisors can also qualify for the renowned MDRT (Million Dollar
Round Table), an exclusive international insurance advisors club
LIC offers various club memberships through which number of facilities are provided to
Insurance Agent.

MANAGEMENT INSTITUTES
With respect to management of sales force of management institutes the following data is
based on IIPM . IIPM has been the recruitment destination for recruitments in the General
Management and leadership profiles. This year, TAS, Aditya Birla Group, Mahindra &
Mahindra, Hinduja Group, Reliance Industries LTD, Lodha Group, Manipal Group, RPG
Group and Murugappa group.
IIPM struck strategic partnerships with a number of first time recruiters in the areas of
financial services, information technology, marketing, pharmaceuticals and energy. Firms
such as Google, Hindustan Coca Cola Beverages Pvt ltd, BNP Paribas, ICICI Securities,
India Infoline, Akzonobel, Amazon.com, Lodha Group, Medtronic, Glenmark Pharma,
HPCL-Arcelor Mittal Energy Ltd and AC Nielsen recruited for several prized positions in
their respective organizations. The general consensus among them about student quality
has been nothing less than “outstanding”. They returned satisfied knowing fully well that
they are now part of IIPM’s valued recruiters and have forged a relationship that will only
strengthen with time. And their popular caption is DARE to THINK BEYOND the IIMs,
and they prove that too.
IIPM has been a offering in developing short duration Management Development
Programmes (MDPs) with a four-decade enviable standing in the comity of B-schools in
India. These MDP are designed keeping in view the ever changing demands on
business/professional executives. The programme content of even the standard MDPs is
constantly reviewed and changes made therein on a continuous basis. The objective of the
MDPs is to help improve management systems and practices in India and other countries in
South Asian Region by providing relevant training to the executives of different sectors of
the economy operating at different levels in the organisational hierarchy. The participants
are equipped with the latest tools, techniques and skills spanning different streams of
management such as General Management, Human Resources, Organizational Behaviour,
Marketing, Finance ...

MOTIVATION AND COMPENSATION PLAN

It is said that incentives play a major role in motivating your employees and encouraging
them to achieve higher goals. In any organization, incentives work because employees are
then goal-driven and push themselves to achieve their targets.
Each organization has a reward system in place to motivate their employees. This reward
system is based on incentives like an increase in the salary, cash, gift or a holiday.
Compensation is offered to each employee based on his or her performance on the job.
Incentives are usually seen as short term motivators for employees. Hence, incentives are
used a lot to motivate sales employees so that they achieve their targets.
The role of incentives is not to overload the employees with excess work but to realize their
accomplishments and make them feel an important part of the business. Incentives allow
the employees to take on responsibilities and in turn increase their job satisfaction.
However, along with incentives, appreciation, positive feedback and praises are also
important to motivate employees.