INTRODUCTION
y ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank - one of India's foremost financial services companies-and prudential plc - a leading international financial services group headquartered in the United Kingdom y Total market share hold by ICICI Bank is 74% and Prudential plc holding 26%. y The operations begin in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA).

MANAGEMENT GURU SAYS
Acc to FLIPPO, y Training is the act of increasing the knowledge and skill of an employee for doing a particular job.

. To promote individual and collective morale.NEED FOR TRAINING y To impart to the new entrants the basic knowledge and skills y y y y y y y they need for definite tasks. To reduce the defects and minimize the industrial accidents. To assist employees to function more effectively in their present positions by exposing them to new concepts. To ensure the economical output of the required quality. To build a line of competent people and prepare them to occupy more responsible positions. To reduce the supervision time. responsibility and cooperative attitudes etc. To prevent obsolescence. wastage and spoilage of new material.

The training given to the employees is not standardized. No in-house training programmes have been conducted. . No work-study has been done on the requirement of training.PROBLEMS OF ICICI PRUDENTIAL IN RESPECT OF TRAINING NEEDS The training department of the Company is confronted with the following problems: y y y y There is no regular training schedule for the officers and staff.

TYPES OF TRAINING y Orientation training y Job training y Safety training y Promotional training y Refresher training y Remedial training .

its effectiveness and recommend measures to improve the training practices in ICICI PRUDENTIAL y To study the frequency of training.OBJECTIVE OF STUDY y To analyze the existing training practices. training methods and their effects on the trainees and recommend certain measures for improvement in ICICI PRUDENTIAL .

. y To take feedback and analyze the level of satisfaction amongst the employees in respect of training activities and suggest alternatives.y To understand the present practices enforced in respect of training at the personnel department in ICICI PRUDENTIAL and recommend any changes if necessary.

These training and development programmes are conducted at various levels. both in-house and at other places in order to enhance the skills and efficiency of its employees. y The Company organizes various training and development programmes. .TRAINING PROGRAMME IN ICICI PRUDENTIAL y ICICI PRUDENTIAL provides training to all its employees as per the policy of the organization.

STEPS IN TRAINING y Identification of Needs y Preparation of Training Plan y Imparting Training y Feedback y Induction Training y Training Effectiveness .

which are filled in by the department head. The Head of the Personnel Department monitors the actual training conducted vis-à-vis the identified training needs on a monthly basis. Managers are nominated for the various training courses by the Executive s Office. It is attempted to carry out all the programmes to fulfill the identified needs. The Performance Appraisal forms thus give the emerging training needs. This exercise is carried out annually. Training needs for the department through their Performance Appraisal forms identifies the officers.y Identification of Needs: Identification of training need is done at the Executive Office (EO) level for the managers through the Performance Appraisal forms annually and the records are maintained at the Executive Office. Annual Training Budget is prepared by Branch Personnel Head and is approved by Executive Office. . This gives the final list of training activities in a particular year. y Preparation of Training Plan: On the basis of identified training needs. the annual training calendar is prepared by the Personnel officer and approved by the Personnel Head.

There are three such questionnaires available and one of these is used depending upon the nature of the training programme and the level of participants. The selection of these agencies is done on the basis of reputation.y Imparting Training: Actual training is imparted with the help of in-house and outside agencies. Also. a person from the personnel department sits through the final session of the programme and takes the verbal feedback about the programme . Training is also imparted by nominating the concerned employee for an external training programme. programmes offered by them. y Feedback: A feedback is taken from the participants through a questionnaire on the programme and their impressions in order to further improve upon the same. All records of the training are maintained at branch as per Record of Training in the Personnel folder and the same is intimated to the Executive Office Personnel through the Monthly Personnel Report. past experience and feedback received from the earlier participants.

y Induction training: This is carried out as the very first step for any new entrant into the branch at the Staff/ Officer/ Manager level. y Training effectiveness: The training effectiveness is measured by measurement of the achievement of the objectives. achievement of which will ensure that programme objectives are achieved. . This lists down the measurement indicators.

Training programmes flowing from training needs y The programme are divided into three broad categories: y Functional y Behavioral y General .

RESEARCH DESIGN RESEARCH METHODOLOGY  It is the master plan specifying the methods and procedure for collecting and analysing the needed information.Descriptive research .  Research type .

the methodology used in this project are as follows: y Defining the objectives of the study y Framing of questionnaire keeping objectives in mind (considering the objectives) y Feedback from the employees y Analysis of feedback y Conclusion. findings and suggestions.Accordingly. .

i. it cannot appear in the sample again. . Random sampling from a finite population refers to that method of sample selection. This sampling is without replacement. which gives each possible sample combination an equal probability of being picked up and each item in the entire population to have an equal chance of being included in the sample. once an item is selected for the sample.SAMPLING TECHNIQUE USED y The technique of Random Sampling has been used in the analysis of the data.e.

SELECTION OF SAMPLE SIZE y 50 employees of ICICI PRUDENTIAL were selected at randomly from all the departments of the organization and feedback forms (questionnaire) will be obtained. The data was analyzed in order to arrive at present training practices in the organization. .

DATA COLLECTION Data is collected by two ways:  Primary data  Secondary data .

STATISTICAL TOOL USED The main statistical tools that were used for the collection and analyses of data in this project are: y Questionnaire y Pie Charts y Tables .

of respondent O-5 6-10 11-15 More than 15 total 8 5 4 4 20 % of responses 40% 25% 20% 15% 100% .DATA ANALYSIS Interview schedule of manager y 1) How many training programmes have you attended in last 5 years? No. of program me No.

.

interpretation
45% manager have attended 6-15 training programmes in the last 5 years, which is an indication of an effective training policy of the organization. However, 40% of the manager have attended only 0-5 training programmes, which needs to be evenly monitored by the organization.

2) The programme objectives were known to you before attending it.
option Strongly agree Moderately agree Can t say Moderately disagree Strongly disagree total No. of respondent 5 7 3 1 4 20 % of responses 25% 35% 15% 5% 20% 100%

Training objectives should therefore be made known compulsorily before imparting training in the organization.interpretation 35% of the respondents moderately agree to the fact of knowing the training objectives beforehand. in addition to 25% who strongly agree. . But a small population disagrees as 20% strongly disagree to this notion.

option Strongly agree Moderately agree Can t say Moderately disagree Strongly disagree total No. of respondent 6 8 3 2 1 20 % of responses 30% 40% 15% 10% 5% 100% .3) The training program me was relevant to your developmental needs.

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interpretation 70% of the respondents feel that the training programmes were in accordance to their developmental needs. 15% respondents could not comment on the question and 15% think that the programmes are irrelevant to their developmental needs and the organization must ensure programmes that satisfy the developmental needs of the managers. .

4)The period of training session was sufficient for the learning. of respondent 6 4 4 3 2 20 % of responses 31% 21% 21% 16% 11% 100% . option Strongly agree Moderately agree Can t say Moderately disagree Strongly agree total No.

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. All the respondents though felt that increase in time limit of the programmes would certainly be beneficial and the organization should plan for this to be implemented in the near future.interpretation 52% respondents feel that the time limit of the training programme was adequate but 25% feel that it was insufficient. Also. 21% could not comment on the question.

5) The training methods used during the training were effective for understanding the subject option Strongly agree Moderately agree Can t say Moderately disagree Strongly disagree total No. of respondent 4 8 3 3 2 20 % of responses 20% 40% 15% 15% 10% 100% .

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The organization should use better. hi-tech methods to enhance the effectiveness of the methods being used during the training programmes. yet 25% disagree to this notion. .interpretation 40% of the respondents believe that the training methods used during the programmes were helpful in understanding the subject.

Options Strongly agree Moderately agree Can t Say Moderately Disagree Strongly Disagree Total 2 20 10% 100% No.y 6) The training sessions were exciting and a good learning experience. of respondent 5 8 2 3 % of responses 25% 40% 10% 15% .

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10% respondents could not comment on this while 25% differ in opinion. . They feel that the training sessions could have been more exciting if the sessions had been more interactive and in line with the current practices in the market.Interpretation 65% respondents believe that the training sessions were exciting and a good learning experience.

of Respondents % of Responses 4 5 7 3 20% 25% 35% 15% 1 20 5% 100% .7) The training aids used were helpful in improving the overall effectiveness of the programme Options Strongly agree Moderately agree Can t Say Moderately Disagree Strongly Disagree Total No.

Yet the total mindset of the respondents was that the organization should use better scientific aids to enhance the presentation and acceptance value of the training programme . 35% respondents did not comment on the issue. yet 20% disagree to this notion.Interpretation 40% of the respondents believe that the training aids used were helpful in improving the overall effectiveness.

of Respondents % of Responses 3 6 4 4 15% 30% 20% 20% . Options Strongly agree Moderately agree Can t Say Moderately Disagree Strongly Disagree Total 3 20 15% 100% No.the- job efficiency.y 8) The training was effective in improving on.

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The view of the respondents were towards having more technological and current topics for the training programmes which could help them satisfy their creative urge and simultaneously increase their onthe-job efficiency. .Interpretation y 45% respondents believe that the training programmes increase their job efficiency but 35% disagree to this.

9) In your opinion. Options Strongly agree Moderately agree Can t Say Moderately Disagree Strongly Disagree Total 8 20 40% 100% No. the numbers of training programmes organized during the year were sufficient for officers of ICICI PRUDENTIAL. of Respondents % of Responses 2 3 5 2 10% 15% 25% 10% .

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They believe that the number of training programmes organized in a year should be increased and some in house training programmes should also be organized by the organisation regularly.Interpretation 25% respondents have the opinion that the frequency of the training programmes is sufficient but 50% of the respondents differ to this. .

DATA ANALYSIS-INTERVIEW SCHEDULE OF EMPLOYEES (EXECUTIVE LEVEL) 1) How many training programmes have you attended during the last year? No. Programmes Upto 2 3-5 6-8 More than 8 Total of No. Respondents 25 10 4 1 40 62% 25% 10% 3% 100% of % of Responses .

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every worker should be given chances to attend as many training programmes as possible . which should be effectively seen by the organization. which is the clue of a useful training policy of the organization. Also. 62% of the executives have attended only 0-2 training programmes.Interpretation 35% of the executives have attended 3-8 training programmes in the last year. However.

2) The training given is useful to you. Options No. Respondents Strongly agree 19 47% 24% 13% 13% of % of Responses Moderately agree 10 Can t Say Moderately Disagree Strongly Disagree Total 20 1 5 5 3% 100% .

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Interpretation y 71% of the respondents feel that the training programmes were useful. The organization must ensure programmes that are useful and prove to cater to the developmental needs of the executives. . 13% respondents could not comment on the question and 16% think that the programmes were irrelevant to their objective of being useful.

3) The time limit of the training programme was sufficient Options No. Respondents Strongly agree 7 18% 34% 13% 15% of % of Responses Moderately agree 14 Can t Say Moderately Disagree Strongly Disagree Total 40 8 5 6 20% 100% .

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Also. All the respondents though felt that increase in time limit of the programmes would certainly be advantageous and the organization should take some steps in this direction.Interpretation 42% respondents feel that the time limit of the training programme was adequate but 35% feel that it was insufficient. 13% could not comment on the question. .

if increased would make it more effective. Options No. Respondents Strongly agree 18 45% 20% 10% 20% of % of Responses Moderately agree 8 Can t Say Moderately Disagree Strongly Disagree Total 40 2 4 8 5% 100% .4)The time limit of the training programme.

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Interpretation 65% respondents feel that the increase in the duration of the training programmes would be beneficial but 25% differ to this opinion. . the organisation should make required changes to increase the duration of the programmes and also take the opinion of the executives to have an effective training session. Going by the majority.

Respondents Strongly agree 15 37% 25% 13% 15% of % of Responses Moderately agree 10 Can t Say Moderately Disagree Strongly Disagree Total 40 4 5 6 10% 100% .5) The training was effective in improving your onthe-job efficiency. Options No.

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The respondents were of the opinion that having current topics for the training programmes and also some sessions by an external faculty would help them increase their on the job efficiency.Interpretation y 62% respondents believe that the training programmes increase their job efficiency but 25% disagree to this. .

6) The training aids used were effective in improving the overall effectiveness of the programme Options Strongly agree oderately agree Can t Say oderately Disagree Strongly Disagree Total 6 0 15% 100% 12 8 No. of Respondents % of Responses 10 25% 10% 30% 20% .

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the use of better presentation aids should be facilitated. Contrary to this. Also. The organization should ensure positive awareness about the training aids used. .Interpretation 35% respondents believe that the training aids were effective in improving the overall efficiency of the programme. 35% disagree and 30% could not comment on the issue.

of Respondents % of Responses 7 6 4 15 18% 15% 10% 37% .7) The number of training programmes organized for executives in a year are sufficient Options Strongly agree Moderately agree Can t Say Moderately Disagree Strongly Disagree Total 8 40 20% 100% No.

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Interpretation y 33% respondents believe that the number of training programmes organized in a year is sufficient. The organization should ensure multiple programmes for the executives and hence enable them in improving their skills and knowledge. . but a majority of 57% disagrees to this.

of Respondents % of Responses 20 9 5 4 49% 23% 13% 10% .8) The participation of executives in training programme would help increase its effectiveness Options Strongly agree Moderately agree Can t Say Moderately Disagree Strongly Disagree Total 2 40 5% 100% No.

.Interpretation y 72% respondents feel that participative and interactive training session could provide more awareness and knowledge in a small span of time as compared to classroom teaching. 13% respondents could not comment on this and 15% disagree to it.

The training programmes were adequately designed to cater to the developmental needs of the respondents.FINDINDS The major findings of the project are as follows: Training is considered as a positive step towards augmentation of the knowledge base by the respondents. The objectives of the training programmes were broadly known to the respondents prior to attending them. Some of the respondents suggested that the time period of the training programmes were less and thus need to be increased. .

. Training session could be more exicting if session is more interactive and in line with the current practices in the market. Number of training programme should be increased. Training programmes were able to improve on-the-job efficiency.Some of the respondent also suggested that to use the latest training method.

The organization may consider deputing each employee to attend at least one training programmes each year. The In-house training programmes will be beneficial to the organization as well as employees since it will help employees to attend their official work while undergoing the training. .RECOMMENDATION The organization may utilize both subjective and objective approach for the training programmes.

. in order to avoid any interruption in the routine work.The organization can also arrange part time training programmes in the office premises for short durations. spanning over a few days. The organization can arrange the training programmes department wise in order to give focused attention towards the departmental requirements.

LIMITATION OF STUDY  Time  Answers may not be accurate  Sample size is small .

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