aishwarya project

8/2/2019 Aishwarya Project

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A STUDY ON THE

EFFECTIVENESS OF TRAINING FOR ADVISORS

IN THE INSURANCE INDUSTRY WITH RESPECTTO ICICI PRUDENTIAL

SUBMITTED BY:

AISHWARYA RISHI

T.Y.BBA (A)

ROLL NO. 72

BRIHAN MAHARASHTRA COLLEGE OF COMMERCE



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DECLARATION

I Aishwarya Rishi student of Brihan Maharashtra College of Commerce BBA hereby declare that

the project report titled A STUDY ON THE EFFECTIVENESS OF TRAINING FOR

ADVISORS IN THE INSURANCE INDUSTRY WITH RESPECT TO ICICI

PRUDENTIAL carried out by me at ICICI Prudential‟s HR Department.

I hereby further declare that this project report is authentic to the best of my knowledge

AISHWARYA RISHI



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ACKNOWLEDGEMENT

This report required the co-operation of many people in terms of their guidance, written works,

discussions, lectures and published articles. It has indeed been a privilege to have been

associated with such luminaries and share their wisdom. I would like to take this opportunity to

thank all those who have directly or indirectly assisted me in making this project a success.

I sincerely thank and extend my appreciation to the management of ICICI Prudential, for giving

me an insight to the established organisation and for enlightening me about the various aspects of

importance of Training.

I would like to express my gratitude to the Principal of our College Mr. C.N Rawal for providing

me with the opportunity to work on this project.

I am extremely thankful to my mentor Mrs. Bharti Upadhye, Co-ordinator and Departmental

head of BBA for providing me with an opportunity to carry out my Company visits and thus

helping me in the completion of this project.

I sincerely thank my project guide Ms. Amruta Bokil our HUMAN RESOURCE

MANAGEMENT professor for her able guidance and encouragement in carrying out this project

work. Finally yet importantly, I wish to avail myself of this opportunity, express a sense of

gratitude towards the staff of BMCC for their administration support and love to my beloved

parents for their manual support, strength, and help and for everything.



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INDEX

SERIAL

NO.

TABLE OF CONTENTS PAGE

NO.

1 LIST OF TABLES AND GRAPHS

2 EXECUTIVE SUMMARY

3 INTRODUCTION

4 INDUSTRY PROFILE

5 COMPANY PROFILE

6 OBJECTIVES OF THE STUDY

7 THEORETICAL CONCEPTS

8 RESEARCH METHODOLOGY

9 DATA ANALYSIS AND INTERPRETATION

10 OBSERVATIONS AND FINDINGS

11 SUGGESTIONS

12 CONCLUSION

13 ANNEXURE

14 BIBLIOGRAPHY



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INDEX FOR TABLES, ILLUSTRATIONS AND GRAPHS

SERIALNO.

TABLE OF CONTENTS PAGENO.

1 HIERRARCHIAL STRUCTURE OF ICICI

PRUDENTIAL

2 HIERARCHIAL STRUCTURE OF

TRAINING DEPARTMENT

3 PIE CHART ON MARKET SHARE OF ICICI

PRUDENTIAL

4 DATA ANALYSIS AND INTRPRETATION

-GRAPHS WITH RELEVANCE TO THE

QUESTIONNAIRE



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EXECUTIVE SUMMARY

INTRODUCTION TO THE TOPIC

This is a project on “A STUDY ON THE EFFECTIVENESS OF TRAINING FOR ADVISORS

IN THE INSURANCE INDUSTRY WITH RESPECT TO ICICI PRUDENTIAL” which has

been undertaken in ICICI Prudential, HR Dept, Pune branches. This project attempts to

understand the objectives of training programs of insurance companies. A detailed study of the

training programs conducted by ICICI Prudential for its financial advisors has been prepared.

The main objective is to understand the impact of the training programs on the performance

levels of the financial advisors.

SCOPE OF THE STUDYICICI Prudential is currently No.1 private life insurer in the country. It has one of the largest

distribution networks amongst private life insurers in the country. This has generated curiosity in

me to know how far training programs have improved the employee‟s job performance. An

attempt has been made to understand the effectiveness of training programs at entry level, i.e.,

for advisors has been made here. For, the advisors are the public face of the insurance company

and make the most enduring impact on the customer.

OBJECTIVES OF THE STUDY

1. The primary objective of the study is, to analyze the effectiveness of training programs

conducted for advisors in terms of their performance with special emphasis on ICICI

Prudential.

2. To understand the objectives of the training programs of insurance companies.

3. To study the content and methodology of ICICI Prudential‟s training programs for advisors.

4. To analyze the feedback from the trainees about the training programs.

5. To recommend feasible improvements in the training programs conducted by ICICI

Prudential for advisors.



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RESEARCH METHODOLOGY

The study involved both primary and secondary sources for collecting

information. The secondary sources include company‟s website, books, journals, insurance

magazines, HR reviews, articles on internet etc .The primary data was collected with the help

of a structured questionnaire administered to 30 advisors who were selected through Simple

Random Sampling Technique.

DATA ANALYSIS AND INTERPRETATION

The data has been analyzed by assigning a percentage to the responses given by the advisors.

The observations made during the data analysis have been represented with the help of bar

diagrams/charts.

MAJOR FINDINGS

Finally, the conclusion part discusses about the major findings of the study and the various

measures to be taken by the ICICI Prudential to improve its training programs for advisors. The

advisors were not satisfied with the duration of the training programs. They are keen on having

more Training sessions. They wanted the number of trainers conducting the training programs to

be more in number. However, ICICI Prudential has been taking care to take note of such

problems and constantly trying to update the knowledge and skills of the advisors.

SUGGESTIONS

ICICI Prudential should concentrate more on the training programs conducted for the advisors.

For, they are the ones who not only sell the company‟s products but also create and maintain

brand image among the customers. Constant assessment of the advisor‟s skills in order to

upgrade them would go a long way in achieving success in this dynamic industry.

CONCLUSION

Training is a great responsibility, not only because it helps in the improvement of the work of the

employee, but also because it helps in cost saving. So, we can say that the need for training is

highlighted here, along with the various techniques, which are used for training,



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INDUSTRY PROFILE



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INDUSTRY PROFILE

Training objectives in insurance sector

In insurance sector, the need to be well trained assumes gigantic proportions. A unique feature as

regards insurance is that it is not merely sufficient to have a properly trained workforce; there is

a need to spread the message of insurance among the populace. The above, to a great extent,

depend on the knowledge ability of the distribution personnel on account of the interface that

they are required to maintain with all the prospects. The best of advertisements and other forms

of spreading message would be no substitute for a job well done by the intermediary.

The advisors are the public face of the insurance company and make the most enduring impact

on the customer. The prospective policyholders today need professional inputs from

intermediaries whom they can trust and respect. Therefore, the undeclared objective behind

training the advisors is their professionalization, making them capable of „good‟ selling and thus

ultimately benefitting the customer. Need analysis, features and benefits, objection handling and

closing skills are the key components of quality insurance sales training.

The opening up of the sector has given a boost to the training industry. Acute shortage of trained

and expert professionals has spurred the corporate houses to adopt the strategy of tying up with

educational institutions and overcome the dearth of skilled insurance professionals in this highlycompetitive market. A case in point is ICICI Prudential. The company has joined hands with

some training/ educational institutions to start customized courses.

Origin of Life Insurance

Life insurance was born in England when the first policy providing temporary

cover for a period of 12 months was issued as early as 1583 A.D. The Amicable Society

started granting fluctuating sum on death since 1705 and a fixed sum since 1757. With the

development of mortality tables, life insurance acquired a scientific character. The Equitable

Society founded in 1762 was the first society established on scientific basis.



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Origin of Life Insurance in India

In India, after the failure of two British companies, the European and the Albert

in 1870, which attempted writing business on Indian lives, first Indian life assurance

company was formed in the same year called Bombay Mutual Assurance Society Ltd. It was

followed by Oriental life assurance Company limited in 1874, Bharat in 1896 and the Empire of

India in 1897. The idea of insurance was born out of a desire of the people to share the loss of an

individual by many. Originally, it was restricted to other forms of life insurance. It started with

marine insurance where the losses on account of perils of the sea were shared by all who were

engaged in trade.

The Swadeshi movement of 1905 provided impetus to the formation of several companies such

as the “Hindustan Cooperative”, the „United India‟, the „Bombay life‟, the „National‟. Further, in

the wake of freedom movement, number of companies such as the „New India‟, the „Jupiter‟, and

the „Lakshmi‟ emerged. The government began to exercise certain measure of control on

insurance business by passing „Insurance Act‟ in 1912. In order to control the investment of

funds, expenditure and management, a comprehensive Act was passed known as „Insurance Act

1938‟. To control the affairs, the office of controller of insurance was established. The Act was

amended extensively in 1950.

Indian Insurance Market –

History

Insurance has a long history in India. Life insurance in its current form was introduced in 1818

when Oriental Life Insurance Company began its operations in India. General insurance was

however a late entrant in 1850 when Triton insurance company set up its base in Kolkata.

History of insurance in India can be bifurcated into 3 eras:

a) Pre Nationalization

b) Nationalization

c) Post Nationalization

Life insurance was the first to be nationalized in 1956. Life Insurance Corporation of India was

formed by consolidating the operations of various life insurance companies. General Insurance

followed suit and was nationalized in 1973. General Insurance Corporation of India was set up as

the controlling body with New India, United India, National and Oriental as its subsidiaries. The

process of opening up of the insurance sector was initiated against the background of Economic



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Reform Process which commenced from 1991. For this purpose, Malhotra Committee was

formed which submitted report in 1994 and Insurance Regulatory Development Act (IRDA) was

passed in 1999. Subsequently, Indian Insurance was opened for private companies, which began

operations since 2001. For years now, private players have been active in the liberalized

environment. The insurance market has witnessed dynamic changes which include presence of a

large number of insurers both life and non-life segment. Most of the private insurance companies

have formed joint venture collaborating well-recognized foreign players across the globe.

There are now 29 insurance companies operating in the Indian market – 15 private life insurers, 9

private non-life insurers and 6 public sector companies. With many more joint ventures in the

offing, the insurance industry in India today stands at cross roads as competition intensifies and

companies prepare survival strategies in a de-tariff scenario. There is pressure from both within

the country and outside on the Government to increase the Foreign Direct Investment (FDI) limit

from the current 26% to 49% which would help JV partners to bring in funds for expansion.



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COMPANY PROFILE



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COMPANY PROFILE

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. Total capital infusion stands at Rs. 37.72 billion, with ICICI Bank

holding a stake of 74% and Prudential plc holding 26%.

The company began its operations in December 2000 after receiving approval from Insurance Regulatory

Development Authority (IRDA). Today, their nation-wide team comprises of over 955 branches in

addition to 1,033 micro-offices, over 261,000 advisors; and 20 banc assurance partners.

ICICI Prudential was the first life insurer in India to receive a National Insurer Financial Strength rating

of AAA (Ind) from Fitch ratings. For three years in a row, ICICI Prudential has been voted as India's

Most Trusted Private Life Insurer, by The Economic Times - AC Nielsen ORG Marg survey of 'Most

Trusted Brands'. As the company widens its distribution, product range and customer base, it continues to

tirelessly uphold its commitment to deliver world-class financial solutions to customers all over India

The success of the company will be founded in its unflinching commitment to five core values --

Integrity, Customer First, Boundary less, Ownership and Passion. Each of the values describes

what the company stands for, the qualities of people and the way they work.

Company believes that it is on the threshold of an exciting new opportunity, where it can play a

significant role in redefining and reshaping the sector. Given the quality of parentage and the

commitment of its team, there are no limits to its growth.

The VISION of the company is “To make the company the dominant Life and Pensions

player built on trust by world- class people and service.” The company proposes to achieve

its vision by:

Understanding the needs of the customers and offering them superior products and services.

Leveraging technology to service customers quickly, efficiently and conveniently.

Developing and implementing superior risk management and investment strategies to offer

sustainable and stable returns to the policy holders.

Providing and enabling environment to foster growth and learning for the employees.

Building transparency in all dealings.



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Every member of the ICICI Prudential team is committed to 5 core values:

Integrity

Customer First

Boundary less

Ownership

Passion

These values shine forth in all they do, and have become the keystones of company‟s success.

Hierarchical Structure of ICICI Prudential

BRANCH SALES MANAGER

ASSISTANT SALES

MANAGER (2)

UNIT MANAGER (10)

ADVISORS

SALES MANAGER (1)



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Hierarchy Structure of Training Department

TRAINING HEAD

TRAINING MANAGERS

ASSOCIATE TRAINING

MANAGER

ASSOCIATE TRAINING

MANAGER

BRANCH MANAGERS

CONSULTANT TRAINERS



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PRODUCTS

Insurance Solutions for Individuals

ICICI Prudential Life Insurance offers a range of innovative, customer-centric products that meet the

needs of customers at every life stage. Its 27 products can be enhanced with up to 6 riders, to create a

customized solution for each policyholder.

1. Savings Solutions

SecurePlus is a transparent and feature-packed savings plan that offers three levels of protection.Plus

is a transparent, feature-packed savings plan that offers 3 levels of protection as well as liquidity

options.

Save n Protect is a traditional endowment savings plan that offers life protection along with adequate

returns.

Cash Bank is an anticipated endowment policy ideal for meeting milestone expenses like a child‟s

marriage, expenses for a child‟s higher education or purchase of an asset.

LifeTime & LifeTime II offer customers the flexibility and control to customize the policy to meet

the changing needs at different life stages. Each offer 4 fund options- Preserver, Protector, Balancer

and Maximiser.

LifeLink II is a single premium Market Linked Insurance Plan which combines life insurance cover

with the opportunity to stay invested in the stock market.

Premier Life is a limited premium paying plan that offers customers life insurance cover till the age

of 75.

InvestShield Life is a Market Linked plan that provides capital guarantee on the invested premiums

and declared bonus interest.



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InvestShield Cash is a Market Linked plan that provides capital guarantee on the invested premiums

and declared bonus interest along with flexible liquidity options.

InvestShield Gold is a Market Linked plan that provides capital guarantee on the invested premiums

and declared bonus interest along with limited premium payment terms.

2. Protection Solutions

Lifeguard is a protection plan, which offers life cover at very low cost. It is available in 3 options-

level term assurance, level term assurance with return of premium and single premium.

3. Child Plans

SmartKid education plans provide guaranteed educational benefits to a child along with life

insurance cover for the parent who purchases the policy. The policy is designed to provide money at

important milestones in the child‟s life. SmartKid plans are also available in unit-linked form- both

single premium and regular premium.

4. Retirement Solutions

Forever Life is a retirement product targeted at individuals in their thirties.

SecurePlus Pension is a flexible pension plan that allows one to select between 3 levels of cover.

5. Market-linked retirement products

LifeTime Pension II is a regular premium market-linked pension plan

Life Link Pension II is a single premium market-linked pension plan.

Invest Shield Pension is a regular premium pension plan with a capital guarantee on

the investible

premium and declared bonuses.

ICICI Prudential also launched- SalaamZindagi, a social sector group insurance policy targeted at the

economically underprivileged sections of the society.



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6. Group Insurance Solutions

ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance benefits to their

employees.

ICICI Pru Group Gratuity Plan: ICICI Pru‟s group gratuity plan helps employers fund their

statutory gratuity obligation in a scientific manner. The plan can also be customized to structure

schemes that can provide benefits beyond the statutory obligations.

ICICI Pru Group Superannuation Plan: ICICI Pru offers a flexible defined contribution

superannuation scheme to provide a retirement kitty for each member of the group. Employees have

the option of choosing from various annuity options or opting for a partial commutation of the

annuity at the time of retirement.

ICICI Pru Group Term Plan: ICICI Pru‟s flexible group term solution helps provide affordable

cover to members of a group. The cover could be uniform or based on designation/rank or a multiple

of salary. The benefit under the policy is paid to the beneficiary nominated by the member on his/her

death.

7. Flexible Rider Options

ICICI Pru Life offers flexible riders, which can be added to the basic policy at a marginal cost, depending

on the specific needs of the customer.

Accident & disability benefit: If death occurs as the result of an accident during the term of the

policy, the beneficiary receives an additional amount equal to the sum assured under the policy. If the

death occurs while traveling in an authorized mass transport vehicle, the beneficiary will be entitled

to twice the sum assured as additional benefit.

Accident Benefit: This rider option pays the sum assured under the rider on death due to accident.

Critical Illness Benefit: protects the insured against financial loss in the event of 9 specified critical

illnesses. Benefits are payable to the insured for medical expenses prior to death.



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Major Surgical Assistance Benefit: provides financial support in the event of medical emergencies,

ensuring benefits are payable to the life assured for medical expenses incurred for surgical

procedures. Cover is offered against 43 surgical procedures.

Income Benefit: This rider pays the 10% of the sum assured to the nominee every year, till maturity,

in the event of the death of the life assured. It is available on SmartKid, SecurePlus and Cash Plus

Waiver of Premium: In case of total and permanent disability due to an accident, the premiums are

waived till maturity. This rider is available with SecurePlus and Cash Plus.

8. Keyman Insurance Plans

A keyman is an individual who directly affects the profitability and the continuity of a business and

whose absence may have an adverse effect on the health and continuity of the business. Keyman

insurance is a life insurance policy taken by the company on the life of such a key person.

The objective of the Keyman insurance is to provide the company with money so that the financial losses

to the company can be protected, in absence of the Keyman. The aim is to indemnify the company of

these losses and to allow business continuity. All premiums paid for securing a Keyman life insurance

policy are treated as business expenditure u/s 37 (1).

9. Rural Plans

ICICI PruLife Rural Products are designed to meet the needs of the rural consumers. These

products offer the following features:

1. Low and Affordable Premiums

2. Life Cover

3. Savings Option

4. Hassle free procedure.

10. Mutual Funds

A Mutual Fund is a trust that pools the savings of a number of investors who share a common financial

goal. The money thus collected is then invested in capital market instruments such as shares, debentures

and other securities. The income earned through these investments and the capital appreciations realized

are shared by its unit holders in proportion to the number of units owned by them



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MARKET SHARE OF ICICI PRUDENTIAL



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TRAINING TECHNIQUES USED BY ICICI PRUDENTIAL

CLASSROOM METHOD

The value of a live, instructor-led training experience is undeniable. If the instructor is a

competent teacher who knows how to engage adult students so that they understand and retain

the material, live classroom training offers the most bangs for your training buck.A classroom

enables a learner to experience support from peers and instructors. This gives a sense of

encouragement and belonging to the student, allowing more time to learn things properly.

Classroom learning can also allow for more time. The learning process in some people takes

quite a bit of time, so a classroom setting is ideal for the patience and environment required. The

fact of the matter is that many people simply learn better in a classroom setting. Some people

thrive on the conversation of a topic with other people, which is something they feel

uncomfortable with in an online situation. The classroom setting allows for real time discussion

and provides interaction that isn‟t easily duplicated even with the most advanced of technology.

With classroom training, employees are around other workers and are learning the same material.

This allows for constructive team building, as people are joining together to work out basic

problems and find solutions as a group. This, coupled with the individualized sense of theory,

helps create a strong team within the staff. If the classroom theory allows for learning in small

groups, the sense of cooperation is reinforced significantly.

Many people also learn better in a one-on-one instruction session. Classroom training allows for

an individualized approach that cannot easily be duplicated in an online setting. Instructors can

answer questions and provide hands-on answers that should satisfy most curiosities. This allows

the students to learn readily and to effectively engage all of their senses with the material.

But it‟s difficult to give workers time out of the office and the price of petrol will probably never

drop below again. If you need highly specialized training, there may not be a training facility

anywhere near you that can meet your needs Classroom training is still the most effective

because of the live, dynamic interactions between the students and the instructor.

http://www.knowledgewave.com/corp.html




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ONLINE TRAINING

Businesses need to train and develop their employees regularly as it will help improve employee

work performance, provide them with skills necessary to deal with changing technologies, and

equip them adequately to perform their duties and helping the company achieve its goals. This

has become a problem though for many small businesses as they have to work on a small budget,

cannot afford to have the employees away from work for several days to gather as work could

come to a standstill. This is when online training programs come in handy.

Advantages of Online Training for Employees:

Providing online training for employees will greatly benefit those companies that cannot afford

to have employees away from work for long durations. Online training can be given to just one

or to a group of employees with relative ease and with minimum wastage of time and energy.

The employees can learn on the job spending a few hours each day whenever it is convenient for

them, from their workstations, which greatly helps small businesses by being economical as well

as providing tailor made materials for the company. The company looks out for online training

material providers to provide a content rich course material to be distributed internally, courses

designed to teach individuals qualities they need training in such as leadership, or they seek help

to develop and offer courses themselves. Training helps motivate the employees, making them

adept at handling any situation, as well as improves work quality.

Online training for employees is also preferred by large corporations with offices and employees

at different continents, since training for a large group of employees at different locations can be

done easily with their workstations. These methods are effective as information is just a click

away and courses are offered through emails, interactive websites as well as CDs etc.

Online training for employees ensures that companies get to train their employees fast and make

them learn skills necessary for optimum performance at their convenience. When companies

sponsor the training, employee moral gets a boost as well as increases the motivation to complete

the training successfully. Performance management systems guide the company as well as the

employee in choosing the right training necessary for each individual employee. Online training



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has made it possible for employees to further their qualifications by enrolling in online

universities as well as continue their present jobs; mostly the company sponsors their training.

The ease of locating training institutes, offering specific content rich course materials and easy

schedules, has made providing online training for employees easy and beneficial for businesses

as well as for the employees.

There are firms that specialize in offering their services and products to help new owners run a

business successfully and smoothly.

The 6 Types of Online Training

Web pages with text information for learning courseware instead of a printed book. The webpages contain explanatory material, step-by-step instructions, and screenshots.

EBook courseware, with explanatory material, step-by-step instructions, and screenshots.

Interactive learning with audio, video, and clickable elements onscreen like quizzes.

Screen casts, which are recorded video of onscreen actions in a software application, usually

with voice-over narration.

Webinars, which often consist of a shared group environment online for chat, audio, video, and

whiteboard. These can be participated in live when they run or watched as recordings after the

live event.

ILEs, which are Interactive Learning Environments. ILEs offer a comprehensive, learning

program that often incorporates all of the above methods. Whereas the above methods are often

paid for as individual products, ILEs are often purchased as a recurring membership. However,

there is a solution that offers the best of both worlds.

http://www.knowledgewave.com/seminars.html




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OPEN FORUMS

With the Internet easily accessible, and with computers in abundance from offices to libraries

and homes, naturally turning to the Internet as a tool for training is a wise choice. Allowing your

employees to learn in the comfort of their own home, or by learning at work through Internet

training programs allows each employee the freedom to work at his or her own pace. Thus

saving you valuable resources for those employees that learn faster and allowing those that learn

slower the time to let the information "sink in." Let us look at the variety of training options

available through the Internet, and see how the programs offered can benefit your organization.

Online Course(s)

Many learning centres offer courses available online to teach certain skills in a variety of fields.

For instance, the University of Phoenix happens to be a school that offers college courses online

for credit or simple certifications that can be obtained. By asking your employees to take

advantage of becoming certified in certain areas you are adding the protection and prestige to

your organization by boasting "certified" technicians. Prices for these courses vary and are often

reimbursed to you the employer tenfold with a well-trained employee to show for it.

Online Seminar(s)

Depending on your filed of expertise there are often companies that sublet trainers to train your

employees via an online platform. Costs can vary based on your specific needs so keep in mind

to inquire about costs prior to enrolling anyone in the seminar. Sometimes taking advantage of

these trainers is in your best interest should you have a basic approach to how to train your

employees. On the other hand, if your field is not as general or broad as some other fields you

may find it hard to find a seminar that fits in with what you are trying to train. If you are

attempting to train customer service skills, a seminar of this sort should be easy to come by, have

your employees enroll in the seminar and you should be all set. However if you are looking for a

seminar on how to change oil in a Volvo you may find this seminar much harder to come by.

Although with the Internet being worldwide and the categories and subjects available to you

online nothing is impossible.



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Online Forums or Discussion Boards

Creating a small webpage (or large webpage) and adding a forum where employees can ask

questions anonymously may benefit your company as well. Incorporating a facts and questions

(FAQ) section may also help, while you're at it include an area where potential customers can

ask questions and you have created not only a good training method but also a new advertising

avenue. Implementing an open forum, where questions can be asked and answered by employees

helps solidify the training process and saves time and money because there is no need to hire

additional trainers, your. Offering incentives to employees who to take a on a tutoring or training

type role in your dedicated online discussion area may also help boost employee morale and

involvement.

Online demonstrations

With programs that make video conferencing readily available it is not hard to hold your own

training seminars, lectures, question and answer sessions, or demonstrations for others. Programs

such as Skype offer video conferencing where you can see each other in a "face to face" meeting,

or conversation and can address questions or concerns. Demonstrations are also an added bonus

because showing something to someone while explaining it helps the employee retain more of

the lesson provided.

Whatever you goal is when training your future employees keep in mind that to train is to teach,

it is important to find a training method that works for you as well as your employees. Always

make yourself available for questions and make sure you provide feedback on a regular basis,

this give the employee the sense that they are in fact "getting the hang of things" or that certain

areas need improvement. Learning is all about retaining information, and drawing on the

information one retains to use in daily activities, in essence the best training techniques are hands

on experience, as repetition tends to solidify the learning process.



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OBJECTIVES OF THE PROJECT

6. The primary objective of the study is, to analyze the effectiveness of training programs

conducted for advisors in terms of their performance with special emphasis on ICICI

Prudential.



9. To analyze the feedback from the trainees about the training programs.


Prudential for advisors.



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THEORETICAL CONCEPTS



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THEORY AND CONCEPT

“It is our people who make the difference where it matters most…”

(Tesco 2002)

“This is a global success story made possible by the quality and determination

of over 100,000 people worldwide.”

(Vodafone 2002)

“…we believe that competitive advantage is achieved through our people…”

(Kellogg 2002)

Since prehistoric times the jobs of adults have been taught to children to prepare them for

adulthood. Throughout the centuries societies have changed, have become more complex. The

kinds of work to be done, the skills needed, and the tools used to do the work have changed. In

order to manage these changes in the complexity, volume, and content of work, job training also

evolved. This paper describes how and why job training changed as work changed.

When humans created artifacts, the need for teaching others how to use those artifacts became

necessary. Teaching others to use a tool to perform a task was one of the first goals of training.

"As man invented tools, weapons, clothing, shelter, and language, the need for training became

an essential ingredient in the march of civilization" (Steinmetz, 1976). As the artifacts became

more complex, different ways of training were developed to be more effective and efficient.

"Instructional practices were developed that served the needs of the times, evolving into accepted

instructional paradigms" (Brethower and Smalley, 1992). These different practices were

developed at different times, and some of them changed through the years, but all of them are

used today, depending on the training need and situation.

Training is different from education. Training teaches the learner how to do a specific task, such

as running a machine, or making a shirt. Education is instruction (in the more general knowledgeof the society, such as the history of the society, or knowledge of mathematics). As societies

developed, there accumulated more knowledge than people could pick up on their own or learn

informally from others. At some point, it became necessary, to formally educate young people in

the amassed knowledge of their society in order to help them function in that society.



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The development and well-being of a country depends, largely, upon the quality and quantity of

its population, the proper and prudent use of the available human resources, proper Human

Resource Management, the stock of natural resources it has and modern methods of techniques

of production available. Of course, there are many factors, e.g. political atmosphere, economic,

industrial and commercial development, etc. which also affects the development of a country.

The economic life, economic development and growth, prosperity etc. of a country are governed

by the natural and human resources of that country.

HISTORY OF MANAGEMENT TRAINING

Management Training in the past

In the past, organizations developed managers, first by recognizing an individual‟s strong

occupational knowledge about the organization‟s products or services. These individuals were

promoted to first-level positions that included work direction. One cannot say they supervised in

the current sense of the word, that is, they usually did not delegate, support career counseling,

conduct performance reviews, etc. Rather, they told workers what to do and workers did it.

These work directors had little training about supervision, e.g., about delegating, interpersonal

skills, stress management, career developments, etc.

Management Training in the 50s to 80s

Management training focused on covering certain standard topics or types of activities in the

organization, e.g., planning, organizing, finances, sales, accounting, etc. Students would immerse

themselves in the current course, and then leave that course to immerse in the next. However,

reality is that a manager in the workplace seldom solves a problem by applying his or her

knowledge of one specific topic (then goes on to solve the next problem by applying his or her

knowledge of another specific topic). A highly effective manager integrates expertise across

various management topics. Yet few management schools provided opportunity for management

students to integrate and apply information from their various courses.



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Traits of Progressive Management Development Programs (Now)

With the Human Relations movement, training programs recognized the need to cultivate

supervisory skills, e.g., delegating, career development, motivating, coaching, mentoring, etc.

Progressive management schools now have students review a wide body of management topics

and learn those topics by applying that knowledge in the workplace and reflecting on that

application. Learning activities incorporate learners‟ real-world activities in the workplaces or

their lives. Assignments include reflection and analysis on real-world experience. Learning is

enhanced through continuing dialogue and feedback among learners. Very good schools manage

to include forms of self-development, too, recognizing that the basis for effective management is

effective self-management.

Effective management development programs help students (learners) take a system‟s view of

their organizations, including review of how major functions affect each other. Assignments

include recognizing and addressing effects of one action on their entire organisation. In the

recent past, i.e. last few years of the 20th

century and in the first few years of the present 21st

century, we find fundamental changes in approaches, attitudes, philosophy, outlook, and

practices in the personnel area in the form of human resource management strategies. Because of

which, it has become very essential for almost all organizations to develop skills, potential,

capabilities, talents, attitudes etc. of the people working with them to meet the challenges of

future. Therefore, many organizations have evolved and adopted suitable human resource

development policies. The human resource development policies and strategies

Every organization requires competent employees for the successful functioning of its various

departments. To ensure that the staff works efficiently and effectively, the organization has to

continuously evaluate their performance and bridge any performance gaps by providing

appropriate training to them. For, it is the people who „make or break ‟ an organization.

Traditionally, the training policy in an organization is focused on enhancing the productivity and

effectiveness of the employees so that the medium term and long-term strategies of the

organization could be successfully fulfilled. Since up gradation of skills and knowledge has

direct relevance to performance, training policy until date was desired to have linkages with



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other HR systems and policies like performance appraisal, career planning, rewards and

promotion as decided by the management.

With the ushering in of Globalization and Liberalization since early 1990s, there has been a sea

change in our business processes, and our corporate practices forcing organizations to mould

themselves to the new era of competition, where they have to compete not at local or national

level but at international level. This necessitates huge investments in the training programs for

providing the requisite skill set to the staff.

LITERATURE REVIEW

As customer relationship plays an important role in the insurance business, adequate training has

to be provided to the employees to understand the customer needs and communicate the suitable

product details according to their requirements. A company will be successful if the

intermediaries interacting with the customers have a sound knowledge of the products available

and are able to convey the same to the end users.

Insurance expert Dale S Beach defined training as “the organized procedure by which the

employees learn knowledge and skills for a definite purpose.” The organization has to conduct

training programs to educate the staff about the various products available, to improve their

communication skills, and to equip them to handle different types of customers.

Liberalization and privatization of the insurance sector have resulted in a competitive market.

Insurance companies require smart and skilled personnel to compete with their rivals in the

market. The companies should impart necessary knowledge and skills to the employees by

conducting training programs, seminars, conferences, and workshops. The HDFC Standard Life

Insurance Company imparts knowledge on insurance and other related business process through

Management Trainees Program. The Oriental Staff Training College ( OSTC ) is the training

center for Oriental Insurance Company.

As a part of on-the-job training, companies are tying with training institutions to upgrade the

employee knowledge on the latest technology and novel techniques in the industry to improve

their performance. Strong academia-industry partnerships are also witnessed. United India

Insurance Company in partnership with Dr. Ambedkar Law University in Tamil Nadu provides a

post graduate diploma course in general insurance law and practice. A survey reveals that the



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training sensitivity among the private insurers stands at 3 on the scale of 0 to 5, where 0

represents not sensitive and 5 represents highly sensitive.

A study of the Indian insurance sector by McKinsey & Co., the global consultancy firm, says a

mere 25-30% of the life insurance agents have the acceptable level of training and sales

standards set by their companies. The study further says there is not much to differentiate

between those advisors who have spent more than two years in a company and new recruits

without any sales experience. Definitely, this is a sad reflection on the quality of training

imparted to the agents!!!!

The focus of the training during the last decade has shifted from „training for survival‟ to

„training for successes. Training, therefore, has to serve as a vehicle for change. To satisfy the

curiosity of agents, the faculty members will have to become real coaches and not mere

cheerleaders. The training system has to develop wings to fly towards greater heights. All this is

possible only when the organizations evaluate the effectiveness of the existing training programs

on performance improvement of the employees and thereafter make suitable changes in the

training policy to bridge the performance gaps in the employees.

TRAINING DEFINED

1. Prof. C.B Mamoria defined training as “a process of learning a sequence of programmed

behaviour. It is an application of knowledge”.

2. According to Prof. Milkovich and Prof. Boudreau, “Training is a systematic process of

changing the behaviour, knowledge, and/or motivation of present employees to improve the

match between employee characteristics and employment requirement”.

3. Edwin B. Flippo defines training as “the act of increasing the knowledge & skills of an

employee for doing a particular job.”

MEANING OF THE DEFINITIONS

It is a learning process that involves the acquisition of knowledge, sharpening of skills,

concepts, rules, or changing of attitudes and behaviours to enhance the performance of

employees.



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Training is activity leading to skilled behaviour; It‟s not what you want in life, but it‟s

knowing how to reach it; It‟s not where you want to go, but it‟s knowing how to get there;

It‟s not how high you want to rise, but it‟s knowing how to take off .

Training involves the development of skills that are usually necessary to perform a specific

job.

Its purpose is to achieve a long term change in the behaviour of those trained and enable

them to do their jobs better.

Training makes newly appointed workers fully productive in the minimum time limit.

Advantages of training-:

• Increases production

• Improves quality

• Improves confidence & morale of employee

• Encourages personal growth & development

• Improves organizational climate

• Prevents obsolesce

• Help the organisation for precise planning

• Enables organisation to take feedback

BASIC TERMS AND DEFINITIONS

Information

At its most basic form, a piece of information about something is a "unit of awareness" about

that thing. (A field of philosophy, epistemology, includes analysis of what is really information

and what isn't. This field might visit the question: "If a tree falls in the forest, does it make a

sound?") Some people think that this awareness occurs only in the brain and, therefore, usually

comes from some form of thought. Other people also accept information as a form of realization

from other forms of inquiry, e.g., intuition.



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Knowledge

Knowledge is gleaned by organizing information. Typically, information evolves to knowledge

by the learner's gaining context, perspective and scope about the information.

Skills

Skills are applying knowledge in an effective and efficient manner to get something done. One

notices skills in an employee by their behaviors.

Task

A task is a typically defined as a unit of work, that is, a set of activities needed to produce some

result, e.g., vacuuming a carpet, writing a memo, sorting the mail, etc. Complex positions in the

organization may include a large number of tasks, which are sometimes referred to as functions.

Job

A job is a collection of tasks and responsibilities that an employee is responsible to conduct. Jobs

have titles.

Role

A role is the set of responsibilities or expected results associated with a job. A job usually

includes several roles.

Learning

Typically, learning is viewed as enhancing one's knowledge, understanding or skills. Some

people see learning as enhancement to one's knowledge, awareness and skills. Some

professionals view learning as enhancing one's capacity to perform. Some view learning as a way

of being that includes strong value on receiving feedback and increasing understanding. It's

important to note that learning is more than collecting information -- more than collecting

unreferenced books on a shelf. Depending on the needs of the learner, knowledge is converted to

skills, that is, the learner knows how to apply the knowledge to get something done. Ideally, theskills are applied to the most appropriate tasks and practices in the organization, thereby

producing performance -- results needed by the organization. Here's another perspective.

http://www.nwlink.com/~donclark/hrd/sat4.html#_blank




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Continuous Learning

Simply put, continuous learning is the ability to learn to learn. Learning need not be a linear

event where a learner goes to a formal learning program, gains areas of knowledge and skills

about a process, and then the learning ceases. If the learner can view life (including work) as a

"learning program", then the learner can continue to learn from almost everything in life. As a

result, the learner continues to expand his or her capacity for living, including working. (See

Continuous Learning.)

Education

This term seems to be the most general of the key terms in employee training. Some

professionals view education as accomplishing a personal context and understanding of the

world, so that one's life and work are substantially enhanced, e.g., "Go get an education." Others

view the term as the learning required to accomplish a new task or job. Here's another

perspective.

TRAINING NEEDS IN AN ORGANISATION ARISE DUE TO

1. Increased use of technology in production

2. When there is requirement of extra / additional employees due to increase in production or

services.

3. To reduce grievances & decrease accident rate

4. Raise morale of employees

5. To update both, old & new employees about latest tools & equipment & handling them with

ease.

6. To increase chances of employment of inexperienced, new & badali workers

7. To make employee‟s performance more efficient & effective, same time saving learning

time, reduce supervision; reduce waste & spoilage of raw material.

8. To produce quality goods & to satisfy customers.

9. Develop employee‟s personal ability & capacity by introducing new, latest & advance

knowledge.

http://www.managementhelp.org/trng_dev/design/cont_lrn.htm





http://www.managementhelp.org/trng_dev/design/cont_lrn.htm



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THE TRAINING PROCESS

„Training‟ refers to the various methods used to give new or present employees the information

or knowledge, the skills, and their proper application needed to perform their jobs effectively and

efficiently; whereas „Process‟ means a series of actions or motions to achieve particular goals.

When we consider training process as a topic, we have to consider various actions, steps required

to be taken for imparting training to the concerned individuals.

Steps of the Training Process:

1. Identification of training needs

2. Deciding the objectives of training

3. Designing of the training programs

4. Selection of the trainees or participants who have to be given training

5. Selection of the trainers who will be conducting the training programs

6. Selection of training methods and tools

7. Administration and implementation of training programs

8. Evaluation of training programs

The ultimate aim of any training program is to achieve:

- Continuous Improvement

- Change-in-Attitude

- Cost Saving

- Total Productivity

- Scope for development

When organization has invested in some training, how do we know if it has a success? Our gut

feeling might be that skills and practice have improved. But, in what ways and by how much has

it improved, and did the organization get the value of money? Answers to these questions can be

found by doing evaluation.



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The evaluation of training forms the remaining part of the training cycle, which starts with the

identification of training needs, establishing objectives and continues through to the design and

delivery of the training course itself.

It is the function of evaluation to assess whether the learning objectives originally identified have

been satisfied and any deficiency rectified. It is part of a continuing management process

consisting of planning, implementation, and evaluation, ideally with each following the other in a

continuous cycle until successful completion of the activity.

The evaluation process must start before the training has begun and must continue throughout the

whole learning process.

METHODS/TECHNIQUES OF TRAINING

Training methods are useful for attaining desired objectives in a learning situation. Every method

has certain structured procedures for conducting it, which offers definite advantage in developing

certain qualities in an employee; however they have certain limitations too. Therefore, while

adopting a particular method, one has to take into consideration its strengths and weaknesses.

Following are the methods of training, which can be classified into two categories

1. ON THE JOB METHOD:

a) COACHING

Coaching is also known as Apprenticeship method/Internship method or the Understudy method.

Here a trainer or a coach trains one or two trainees, and assigns them tasks. He monitors their

behaviour and also provides re-enforcement and feedback. This is a time consuming process and

an expensive one too. Effectiveness depends upon the coach‟s abilities and skills.

b) JOB INSTRUCTION TRAINING

In this method, the trainees learn their job by watching, observing and leaning under the watchful

eye of master craftsmen and mechanics. Trainees are coached, instructed and trained by skilled

co-workers, supervisors, and special trainers.



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c) JOB ROTATION

This is a frequently used method. Here, the management and the trainees are made to move from

one job to another at certain intervals. Jobs vary in content. The main purpose here is to widen

the knowledge and exposure of the trainees/ the trainees end up gathering more experiences

concerning skills and knowledge.

d) MULTIPLE MANAGEMENT METHODS

This method is also known as Participation in deliberations of the Junior Board and Committees.

In this method, the junior managers or employees get an opportunity to participate in the actual

problems of the organisation along with the advisory board. The method is relatively inexpensive

and helps to identify members, who have the skills, abilities, and capabilities to be effective

managers.

2. OFF THE JOB METHODS:

a) LECTURE METHOD

It is one of the oldest methods of training. This method is used to create understanding of a topic

or to influence behavior, attitudes through lecture. A lecture can be in printed or oral

form. Lecture is telling someone about something. Lecture is given to enhance the knowledge of

listener or to give him the theoretical aspect of a topic. Training is basically incomplete without

lecture. When the trainer begins the training session by telling the aim, goal, agenda, processes,

or methods that will be used in training that means the trainer is using the lecture method. It is

difficult to imagine training without lecture format. There are some variations in Lecture method.

The variation here means that some forms of lectures are interactive while some are not.

b) CASE STUDY METHOD

Case study method presents a trainee with a written description of an organisational problem.

The person then analyzes the case, diagnoses the problem and presents his or her findings and

solutions in discussion with other trainees.

http://traininganddevelopment.naukrihub.com/training.html

http://traininganddevelopment.naukrihub.com/trainer.html


http://traininganddevelopment.naukrihub.com/training.html



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c) MANAGEMENT GAMES

With management games trainees are dividend in to give or six persons group, each of which

competes with the others in a stimulated marketplace. Management games can be good

development tools. People learn best by getting involved, and the games can be useful forgaining such involvement. They help trainee develop their problem solving skills, as well as to

focus attention on planning rather than just putting out fires. The group also usually elects their

own officers and organize themselves; they can thus develop leadership skills and faster

cooperation and team work.

Some of the benefits of the business games are:

It develops leadership skills

It improves application of total quality principles

It develops skills in using quality tools

It strengthen management skills

It demonstrates principles and concepts

It explores and solves complex problem

d) ROLE PLAYING

The aim of role playing is to create a realistic situation and then have the trainees assume the roleof specific persons in that situation. When combined with the general instruction and other roles

for the exercise, role playing can trigger spirited discussions among the role player trainees. The

aim is to develop trainee‟s skills in areas like leadership and delegation.

e) BEHAVIOUR MODELLING

Behavior Modeling uses the innate inclination for people to observe others to discover how to do

something new. It is more often used in combination with some other techniques.

Procedure of Behavior Modeling Technique:

In this method, some kind of process or behavior is videotaped and then is watched by the

trainees. Games and simulation section is also included because once the trainees see the

videotape, they practice the behavior through role plays or other kind of simulation techniques.

http://traininganddevelopment.naukrihub.com/methods-of-training/games-and-simulations/

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The trainee first observes the behavior modeled in the video and then reproduces the behavior on

the job.

The skills that are required to build up are defined

A brief overview of the theory is then provided to the trainers

Then, trainees are given instructions that what specific learning points or critical behavior

they have to watch

Then the expert is used to model the suitable behaviors

Then, the trainees are encouraged to practice the suitable behavior in a role play or through

any other method of simulation

Trainees are then provided with some opportunities to give reinforcement for appropriate

imitation of the model‟s behavior . In the end, trainer ensures that trainees appropriately

reinforces the behavior on the work place

f) EQUIPMENT SIMULATORS

Equipment simulators are the mechanical devices that necessitate trainees to use some actions,

plans, measures, trials, movements, or decision processes they would use with equipment back

on the their respective work place.

It is imperative that the simulators be designed to repeat, as closely as possible, the physical

aspects of equipment and operational surroundings trainees will find at their work place. This is

also called as physical fidelity of the simulation.

Besides that, the mental conditions under which the equipment is operated such as, increasing

demands, pressure of time, and relationship with colleagues, subordinates, etc must also be

closely matched to what the trainees experience on the work place.

The literature on socio-technical approaches to organizational development provides guidelines

for the design or redesign of tools. Human Resource professionals involved in propose of

simulators and their pre-testing should engage those who will be using the equipment and their

supervisors. Their input can help in reducing the potential resistance, errors in the equipment and

more importantly, it also increases the degree of reliability between the simulation and the work

setting. Equipment simulators can be used in giving training to:

Air Traffic Controllers

Taxi Drivers


http://traininganddevelopment.naukrihub.com/trainee.html





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Telephone Operators

Ship Navigators

Maintenance Workers

Product Development Engineers

Airline Pilots

Military Officers

g) IN BASKET TECHNIQUE

It provides trainees with a log of written text or information and requests, such as memos,

messages, and reports, which would be handled by managers, engineers, reporting officers,

or administrators.

Procedure of the In- basket Technique

In this technique, trainee is given some information about the role to be played such as,

description, responsibilities, general context about the role.

The trainee is then given the log of materials that make up the in-basket and asked to respond

to materials within a particular time period.

After all the trainees complete in-basket, a discussion with the trainer takes place.

In this discussion the trainee describes the justification for the decisions.

The trainer then provides feedback, reinforcing decisions made suitably or encouraging the

trainee to increase alternatives for those made unsuitably. A variation on the technique is to

run multiple, simultaneous in baskets in which each trainee receives a different but organized

set of information. It is important that trainees must communicate with each other to

accumulate the entire information required to make a suitable decision.

This technique focuses on:

Building decision making skills

Assess and develops Knowledge, Skills and Attitudes (KSAs)

Develops of communication and interpersonal skills

Develops procedural knowledge

Develops strategic knowledge







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h) PROGRAMMED INSTRUCTIONS

Programmed instruction is a Computer-based training that comprises of graphics, multimedia,

text that is connected to one another and is stored in memory.

Programmed instruction is the procedure of guiding the participants strategically through the

information in a way that facilitates the most effective and efficient learning. It provides the

participant with content, information, asks questions, and based on the answer goes to the next

level of information i.e. if the trainee gives the correct answer; one branch moves the trainee

forward to the new information. And if the trainee gives the wrong answer then different branch

is activated, taking the trainee back to the review relevant information in more elaborate manner.

This method allows the trainees to go through the content according to the individual speed, and

capability. Those trainees, who respond better, move through the content rapidly. This method

uses a lecturer to provide the learners with context that is supported, elaborated, explains, or

expanded on through interactions both among the trainees and between the trainer and the

trainees. The interaction and the communication between these two make it much more effective

and powerful than the lecture method. If the Discussion method is used with proper sequence i.e.

lectures, followed by discussion and questioning, can achieve higher level knowledge objectives,

such as problem solving and principle learning.







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ASSESSING THE EFFECTIVENESS OF TRAINING PROGRAMS

Donald Kirkpatrick developed four level models to assess training effectiveness. According to

him, evaluation should always begin with the first level and move through other levels in

sequence.

Reaction Level: The purpose is to measure the individual‟s reaction to the trai ning activity.

The benefit of Reaction level evaluation is to improve Training and Development activity

efficiency and effectiveness.

Learning Level: The basic purpose is to measure the learning transfer achieved by the

training and development activity. Another purpose is to determine to what extent the

individuals have increased their knowledge, skills and changed their attitudes by applying

quantitative or qualitative assessment methods.

Behavior Level: The basic purpose is to measure changes in behavior of the individual, as a

result of the training and development activity and how well the enhancement of knowledge,

skills and attitudes has prepared them for their role.

Result Level: The purpose is to measure the contribution of training and development to the

achievement of the business/operational goals.

There are three possible opportunities to undertake an evaluation:Pre Training Evaluation: it is a method of judging the worth of a program before the program

activities begin. The objective of this evaluation is

(a) To determine the appropriateness of the context of training activity and

(b) To help in defining relevant training objectives.

Context and Input Evaluation: it is a method of judging the worth of a program while the

program activities are happening. The objectives of this evaluation are

(a) To assess a training course or workshop as it progress

(b) To find out the extent of program implementation and

(c) To determine improvement and adjustments needed to attain the training objectives.



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Post Training Evaluation: is method of judging the worth of a program at the end of the

program activities. The focus is on the outcome. It tries to judge whether the transfer of training

to the job has taken place or not.

The onus to decide on the effectiveness of the training program, should primarily be on the

employee and through his performance and quality of output, the organization should form

impressions. The employee undergoing training therefore should demonstrate the additional

skills and competence at his workplace to enable the organization to value it and to realize the

value such efforts add to the organization in achieving its goals and objectives and to frame and

practice relevant HR policies and processes.



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TRAINING TECHNIQUES USED BY ICICI PRUDENTIAL

CLASSROOM METHOD

The value of a live, instructor-led training experience is undeniable. If the instructor is a

competent teacher who knows how to engage adult students so that they understand and retain

the material, live classroom training offers the most bangs for your training buck.A classroom

enables a learner to experience support from peers and instructors. This gives a sense of

encouragement and belonging to the student, allowing more time to learn things properly.

Classroom learning can also allow for more time. The learning process in some people takes

quite a bit of time, so a classroom setting is ideal for the patience and environment required. The

fact of the matter is that many people simply learn better in a classroom setting. Some people

thrive on the conversation of a topic with other people, which is something they feel

uncomfortable with in an online situation. The classroom setting allows for real time discussion

and provides interaction that isn‟t easily duplicated even with the most advanced of technology.

With classroom training, employees are around other workers and are learning the same material.

This allows for constructive team building, as people are joining together to work out basic

problems and find solutions as a group. This, coupled with the individualized sense of theory,

helps create a strong team within the staff. If the classroom theory allows for learning in small

groups, the sense of cooperation is reinforced significantly.

Many people also learn better in a one-on-one instruction session. Classroom training allows for

an individualized approach that cannot easily be duplicated in an online setting. Instructors can

answer questions and provide hands-on answers that should satisfy most curiosities. This allows

the students to learn readily and to effectively engage all of their senses with the material.

But it‟s difficult to give workers time out of the office and the price of petrol will probably never

drop below again. If you need highly specialized training, there may not be a training facility

anywhere near you that can meet your needs Classroom training is still the most effective

because of the live, dynamic interactions between the students and the instructor.





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ONLINE TRAINING

Businesses need to train and develop their employees regularly as it will help improve employee

work performance, provide them with skills necessary to deal with changing technologies, and

equip them adequately to perform their duties and helping the company achieve its goals. This

has become a problem though for many small businesses as they have to work on a small budget,

cannot afford to have the employees away from work for several days to gather as work could

come to a standstill. This is when online training programs come in handy.

Advantages of Online Training for Employees:

Providing online training for employees will greatly benefit those companies that cannot afford

to have employees away from work for long durations. Online training can be given to just one

or to a group of employees with relative ease and with minimum wastage of time and energy.

The employees can learn on the job spending a few hours each day whenever it is convenient for

them, from their workstations, which greatly helps small businesses by being economical as well

as providing tailor made materials for the company. The company looks out for online training

material providers to provide a content rich course material to be distributed internally, courses

designed to teach individuals qualities they need training in such as leadership, or they seek help

to develop and offer courses themselves. Training helps motivate the employees, making them

adept at handling any situation, as well as improves work quality.

Online training for employees is also preferred by large corporations with offices and employees

at different continents, since training for a large group of employees at different locations can be

done easily with their workstations. These methods are effective as information is just a click

away and courses are offered through emails, interactive websites as well as CDs etc.

Online training for employees ensures that companies get to train their employees fast and make

them learn skills necessary for optimum performance at their convenience. When companies

sponsor the training, employee moral gets a boost as well as increases the motivation to complete

the training successfully. Performance management systems guide the company as well as the

employee in choosing the right training necessary for each individual employee. Online training



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has made it possible for employees to further their qualifications by enrolling in online

universities as well as continue their present jobs; mostly the company sponsors their training.

The ease of locating training institutes, offering specific content rich course materials and easy

schedules, has made providing online training for employees easy and beneficial for businesses

as well as for the employees.

There are firms that specialize in offering their services and products to help new owners run a

business successfully and smoothly.

The 6 Types of Online Training

Web pages with text information for learning courseware instead of a printed book. The webpages contain explanatory material, step-by-step instructions, and screenshots.

EBook courseware, with explanatory material, step-by-step instructions, and screenshots.

Interactive learning with audio, video, and clickable elements onscreen like quizzes.

Screen casts, which are recorded video of onscreen actions in a software application, usually

with voice-over narration.

Webinars, which often consist of a shared group environment online for chat, audio, video, and

whiteboard. These can be participated in live when they run or watched as recordings after the

live event.

ILEs, which are Interactive Learning Environments. ILEs offer a comprehensive, learning

program that often incorporates all of the above methods. Whereas the above methods are often

paid for as individual products, ILEs are often purchased as a recurring membership. However,

there is a solution that offers the best of both worlds.

OPEN FORUMS

With the Internet easily accessible, and with computers in abundance from offices to libraries

and homes, naturally turning to the Internet as a tool for training is a wise choice. Allowing your

employees to learn in the comfort of their own home, or by learning at work through Internet

training programs allows each employee the freedom to work at his or her own pace. Thus





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saving you valuable resources for those employees that learn faster and allowing those that learn

slower the time to let the information "sink in." Let us look at the variety of training options

available through the Internet, and see how the programs offered can benefit your organization.

Online Course(s)

Many learning centres offer courses available online to teach certain skills in a variety of fields.

For instance, the University of Phoenix happens to be a school that offers college courses online

for credit or simple certifications that can be obtained. By asking your employees to take

advantage of becoming certified in certain areas you are adding the protection and prestige to

your organization by boasting "certified" technicians. Prices for these courses vary and are often

reimbursed to you the employer tenfold with a well-trained employee to show for it.

Online Seminar(s)

Depending on your filed of expertise there are often companies that sublet trainers to train your

employees via an online platform. Costs can vary based on your specific needs so keep in mind

to inquire about costs prior to enrolling anyone in the seminar. Sometimes taking advantage of

these trainers is in your best interest should you have a basic approach to how to train your

employees. On the other hand, if your field is not as general or broad as some other fields you

may find it hard to find a seminar that fits in with what you are trying to train. If you are

attempting to train customer service skills, a seminar of this sort should be easy to come by, have

your employees enroll in the seminar and you should be all set. However if you are looking for a

seminar on how to change oil in a Volvo you may find this seminar much harder to come by.

Although with the Internet being worldwide and the categories and subjects available to you

online nothing is impossible.

Online Forums or Discussion Boards

Creating a small webpage (or large webpage) and adding a forum where employees can ask

questions anonymously may benefit your company as well. Incorporating a facts and questions

(FAQ) section may also help, while you're at it include an area where potential customers can

ask questions and you have created not only a good training method but also a new advertising



52

avenue. Implementing an open forum, where questions can be asked and answered by employees

helps solidify the training process and saves time and money because there is no need to hire

additional trainers, your. Offering incentives to employees who to take a on a tutoring or training

type role in your dedicated online discussion area may also help boost employee morale and

involvement.

Online demonstrations

With programs that make video conferencing readily available it is not hard to hold your own

training seminars, lectures, question and answer sessions, or demonstrations for others. Programs

such as Skype offer video conferencing where you can see each other in a "face to face" meeting,

or conversation and can address questions or concerns. Demonstrations are also an added bonus

because showing something to someone while explaining it helps the employee retain more of

the lesson provided.

Whatever you goal is when training your future employees keep in mind that to train is to teach,

it is important to find a training method that works for you as well as your employees. Always

make yourself available for questions and make sure you provide feedback on a regular basis,

this give the employee the sense that they are in fact "getting the hang of things" or that certain

areas need improvement. Learning is all about retaining information, and drawing on theinformation one retains to use in daily activities, in essence the best training techniques are hands

on experience, as repetition tends to solidify the learning process.



53




54


WHAT IS RESEARCH?

Research is a logical and systematic search for new and useful information on a particular

topic. It is an investigation of finding solutions to scientific and social problems through

objective and systematic analysis. It is a search for knowledge, that is, a discovery of hidden

truths. Here knowledge means information about matters. The information might be collected

from diff erent sources like experience, human beings, books, journals, nature, etc. A research can

lead to new contributions to the existing knowledge. Only through research is it possible to make

progress in a field. Research is done with the help of study, experiment, observation, analysis,

comparison and reasoning. Research is in fact ubiquitous. For example, we know that cigarettesmoking is injurious to health; heroine is addictive; cow dung is a useful source of biogas;

malaria is due to the virus protozoan plasmodium; AIDS (Acquired Immuno Deficiency

Syndrome) is due to the virus HIV (Human Immuno deficiency Virus).How did we know all

these? We became aware of all this information only through research. More precisely, it seeks

predictions of events and explanations, relation-ships and theories for them.

Importance of Research

Research is important both in scientific and non-scientific fields. In our life new problems,

events, phenomena and processes occur every day. Practically implementable solutions and

suggestions are required for tack-ling new problems that arise. Scientists have to under-take

research on them and find their causes, solutions, explanations and applications. Precisely,

research assists us to understand nature and natural phenomena.

Some important avenues for research are:

1. A research problem refers to a difficulty which a re-searcher or a scientific community or an

industry or a government organization or a society experiences. It may be a theoretical or a

practical situation. It calls for a thorough understanding and possible solution.

2. Research on existing theories and concepts help us identify the range and applications of

them.

3. It is the fountain of knowledge and provides guidelines for solving problems.



55

4. Research provides basis for many government policies. For example, research on the needs

and desires of the people and on the availability of revenues to meet the needs helps a

government to prepare a budget.

5. It is important in industry and business for higher gain and productivity and to improve the

quality of products.

6. Mathematical and logical research on business and industry optimizes the problems in them.

7. It leads to identification and characterization of new materials, new living things, new stars,

etc.

8. Only through research can inventions be made; for example, new and novel phenomena and

processes such as super conductivity and cloning have been discovered only through

research.

9. Social research helps find answers to social problems. They explain social phenomena and

seek solution to social problems.

10. Research leads to a new style of life and makes itdelightful and glorious

What are the Objectives of Research?

The prime objectives of research are:

To discover new facts

To verify and test important fact

To analyse an event or process or phenomenon

To identify the cause and eff ect relationship

To develop new scientific tools, concepts and theories to solve and understand scientific and

non-scientific problems

To find solutions to scientific, non-scientific and social problems and

To overcome or solve the problems occurring in our everyday life.



56

What Makes People do Research?

This is a fundamentally important question. No person would like to do research unless there are

some motivating factors. Some of the motivations are the following:

To get a research degree (Doctor of Philosophy (Ph.D.)) along with its benefits like better

employment, promotion, increment in salary, etc.

To get a research degree and then to get a teaching position in a college or university or

become a scientist in a research institution

To get a research position in countries like U.S.A., Canada, Germany, England, Japan,

Australia, etc. and settle there

To solve the unsolved and challenging problems

To get joy of doing some creative work

To acquire respectability

To get recognition

Curiosity to find out the unknown facts of an event

Curiosity to find new things

To serve the society by solving social problems.

Some students undertake research without any aim possibly because of not being able to

think of anything else to do. Such students can also become good researchers by motivating

themselves toward a respectable goal.



57

THE RESEARCH PLAN

DEFINE RESEARCH PROBLEM

REVIEW OF CONCEPTS AND RESEARCH THEORIES

RESEARCH DESIGNS

(INCLUDING SAMPLE DESIGN)

COLLLECTION OF DATA

(INCLUDING SAMPLE DESIGN)

ANALYSIS AND INTERPRETATION OF DATA USING

STATISTICAL TOOLS

FINDINGS

SUGGESTIONS

CONCLUSION



58

OBJECTIVES

The primary objective of the study is to analyze the effectiveness of training programs conducted

for advisors in terms of their performance with special emphasis on ICICI Prudential. The scope

of the study encompasses –



3. To analyze trainees feedback on the training programs


Prudential for advisors

SOURCES OF DATA COLLECTION

The relevant data was collected from both primary sources and secondary sources. The starting

point of my information gathering has been the secondary sources such as internet, books, and

journals and so on.

First, I made a study of the training objectives of the insurance companies to train its personnel

through secondary sources such as internet, insurance magazines, and journals and so on. Then I

gathered information about the training programs conducted for advisors by ICICI Prudential by

interacting with some of the advisors already working for the company.

Primary data

In primary data collection, you collect the data yourself using methods such as interviews and

questionnaires. The key point here is that the data you collect is unique to you and your research and,

until you publish, no one else has access to it.

There are many methods of collecting primary data and the main methods include:

Questionnaires

Interviews

Focus group interviews

Observation

Case studies

Diaries

Critical incidents



59

Portfolios

The primary data, which is generated by the above methods, may be qualitative in nature

(usually in the form of words) or quantitative (usually in the form of numbers or where you can

make counts of words used).The main sources used by me are Questionnaires and Interviews.

QUESTIONNAIRE

Questionnaires are a popular means of collecting data, but are difficult to design and often

require many rewrites before an acceptable questionnaire is produced.

Advantages:

It can be used as a method in its own right or as a basis for interviewing or a telephone

survey.

It can be posted, e-mailed, or faxed.

It can cover a large number of people or organizations.

There is a wide geographic coverage.

It is relatively cheap.

No prior arrangements are required

It avoids embarrassment on the part of the respondent.

Respondent can consider responses.

There is possible anonymity of respondent.

There is no interviewer bias.

Disadvantages:

Designing them is a problem.

Questions have to be relatively simple.

Historically low response rate (although inducements may help).

Time delay whilst waiting for responses to be returned.

Require a return deadline.

Several reminders may be required.

It assumes no literacy problems.

No control over who completes it.

It is not possible to give assistance if required.



60

There could be problems with incomplete questionnaires.

Replies are not spontaneous and independent of each other.

Respondent can read all questions beforehand and then decide whether to complete or not.

For example, perhaps because it is too long, too complex, uninteresting, or too personal.

INTERVIEW

Interviewing is a technique that is primarily used to gain an understanding of the underlying

reasons and motivations for people‟s attitudes, preferences or behaviour. Interviews can be

undertaken on a personal one-to-one basis or in a group. They can be conducted at work, at

home, in the street or in a shopping centre, or some other agreed location.

Personal interview

It is a face-to-face interaction between an interviewer and an interviewee. There could be more

than one interviewer.

Advantages:

A serious approach is taken by the respondent resulting in accurate information.

There is a good response rate.

It is completed and immediate.

There are possible in-depth questions.

The interviewer is in control and can give help if there is a problem.

It can investigate motives and feelings.

Recording equipment can be used.

Characteristics of respondents can be assessed – tone of voice, facial expression, hesitation,

etc.

Props can be used.

If one interviewer is used, there is uniformity of approach.

This method is used to pilot other methods.

Disadvantages:

Need to set up interviews.

It is time consuming.



61

There are geographic limitations.

It can be expensive.

Normally needs a set of questions.

There is respondent bias – tendency to please or impress, create false personal image, or end

interview quickly.

Embarrassment may take place if personal questions are asked.

Transcription and analysis can present problems – subjectivity.

If many interviewers take the interview, training required.

Secondary data

All methods of data collection can supply quantitative data (numbers, statistics or financial) or

qualitative data (usually words or text). Quantitative data may often be presented in tabular or

graphical form.. For example, this could mean using:

data collected by a hotel on its customers through its guest history system, data supplied by a

marketing organisation, annual company reports, government statistics.

Secondary data can be used in different ways:

You can do something with the data. If you use it (analyse it or re-interpret it) for a different

purpose to the original then the most likely place would be in the „Analysis of findings‟ section

of your dissertation.

Most research requires the collection of primary data (data that you collect at first hand), and this

is what students concentrate on. Unfortunately, many dissertations do not include secondary data

in their findings section although it is perfectly acceptable to do so, providing you have analyzed

it. It is always a good idea to use data collected by someone else if it exists – it may be on a

much larger scale than you could hope to collect and could contribute to your findings

considerably.

Sources can be classified as:

Paper-based sources – books, journals, periodicals, abstracts, indexes, directories, research

reports, conference papers, market reports, annual reports, internal records of organisations,

newspapers and magazines

Electronic sources – CD-ROMs, on-line databases, Internet, videos and broadcasts.



62

The main sources of qualitative and quantitative secondary data include the following:

Official or government sources.

Unofficial or general business sources.

It lists references to the following types of sources:

Trade associations

Trade and other journals

Private research publishers

Stock broking firms

Large company market reports

Local authorities

Advantages

It is highly convenient to use.

It saves finances

It saves time

Secondary data is data that has already been collected by someone else for a different

purpose to yours.

You can simply report the data in its original format. If so, then it is most likely that the place

for this data will be in your main introduction or literature review as support or evidence for

your argument.

Disadvantages

Degree of accuracy is not as high as primary data.

It is difficult to find secondary data which are sufficiently accurate

It is difficult to find secondary data which exactly fit the need of present investigation.

There are many sources of data and most people tend to underestimate the number of sources

and the amount of data within each of these sources.

As secondary data has been collected for a different purpose to yours, you should treat it

with care.



63

SAMPLING TECHNIQUE USED

I have used the Simple random sampling technique. It is a technique, in which every unit of

population has equal and known chance of being included in the sample. It is free from sampling

bias. It is a scientific method, is economical, uses theory of probability and insures accuracy. A

few demerits could be it is costly, unsuitable for heterogeneous population, requires large

samples etc.

Population refers to the collection of all items about which the researcher wants to study some

characteristics. It may also be called a universe.

A sample of 30 advisors is selected for the study, using simple random sampling technique. The

focus of study was on advisors who were trained in the recent past. So, the sample was drawn

from among the advisors who were working for ICICI Prudential since last 1 – 2 months.

Primary Data Collection

Data was collected through an interview schedule and a questionnaire, consisting of both open

ended and closed ended questions. The schedule covered parameters like training methodology,

trainer feedback, overall effectiveness of training program, relevance of training program etc.

Most of the times, they were found to be in the field searching for prospective customers.

Secondary data collection

The secondary sources include company‟s website, books, journals, insurance magazines, HR

reviews, articles on internet etc.



64

DATA ANALYSIS AND

INTERPRETATION



65

DATA ANALYSIS AND DATA INTERPRETATION

1. GRAPH WITH RELEVANCE TO THE INFORMATION PROVIDED TO THE

PARTICIPANTS

CATEGORY EMPLOYEES

MAIL FROM TRAINING

DEPT.

0

THROUGH THE

SUPERVISORS

0

BOTH 30

As far as informing the trainees about the Training Programs are concerned, 100% or all theparticipants said that they were informed through their superiors as well as through mails from

the Training department.

0

5

10

15

20

25

30

mail from the

training

department

through the

supervisors

both

information regarding training

information regarding training



66

2. FEEDBACK ON SUBJECTS TAKEN UP FOR TRAINING

CATEGORY EMPLOYEES

YES 25

SOMETIMES 5

NOT REALLY 0

When we talk about the liking of the subjects that are taken up for Training, most of the

participants that is about 83.3% said yes, and 16.7% said sometimes. There was no scope for not

liking the subject at all.

0

5

10

15

20

25

yes sometimes not really

LIKING OF THE SUBJECTS

LIKING OF THE SUBJECTS



67

3. HOW HELPFUL HAS YOUR TRAINING BEEN IN THE WORKPLACE?

The response to helpfulness of Training was that 90% of the participants said Very Effective and

10% said somewhat effective. There was not a single employee, who said that Training does not

help at all.

0

5

10

15

20

25

30

very effective somewhat

effective

nothing much

has training helped in the workplace

has training helped in the

workplace

CATEGORY EMPLOYEES

VERY EFFECTIVE 27

SOMEWHAT EFFECTIVE 3

NOTHING MUCH 0



68

4. DOES YOUR TRAINING GENERALLY HAVE A DIRECT RELATIONSHIP WITH

YOUR JOB?

CATEGORY EMPLOYEES

ALWAYS 25

MOST OF THE TIME 3

SOMETIMES 2

As far as training having a direct relationship with the job of the employees is concerned, about

83.33% of the participants said Always

10% said Most of the time, and

6.67% said Sometimes.

0

5

10

15

20

25

always most of the time sometimes

direct relationship o training with job

direct relationship o training

with job



69

5. DO YOU THINK YOUR TRAINING HAS BEEN EFFECTIVE IN ENHANCING

YOUR PERFORMANCE?

About 76.7% of the participants said Totally and 23% said To some extent as far as Training

being effective in enhancing their performance is concerned. None of the participants said that

Training does not enhance their performance.

0

5

10

15

20

25

totally to some extent not at all

effectiveness of training in enhancing your

performance

effectiveness of training in

enhancing your performance

CATEGORY EMPLOYEES

TOTALLY 23

TO SOME

EXTENT

7

NOT AT ALL 0



70

6. WHICH AREA, IN YOUR OPINION, SHOULD BE FOCUSED MORE IN

TRAINING?

CATEGORY EMPLOYEES

TECHNICAL 6

BEHAVIOURAL 10

KNOWLEDGE

ENHANCEMENT

14

When talking about the Key Focus Areas in Training, about 20% of the participants opted for

Technical Training, 33.3% opted for Behavioural Training, and 46.7% opted for Knowledge

Enhancement Training.

0

2

4

6

8

10

12

14

technical behavioural knowledge

enhancement

key focus area

key focus area



71

7. WHERE ARE THE TRAINING PROGRAMS HELD?

When asked about where the Training Programs are held, the participant‟s response was 100%

for both the training facilities: Training rooms as well as Outdoor locations.

0

5

10

15

20

25

30

training rooms outdoor

locations

both

training programs are held in …

training programs are held in …

CATEGORY EMPLOYEES

TRAINING ROOMS 0

OUTDOOR LOCATIONS 0

BOTH 30



72

8. ARE YOUR TRAINING DEPT. PEOPLE PRESENT IN THE TRAINING

PROGRAMS?

CATEGORY EMPLOYEES

ALWAYS 30

SOMETIMES 0

NEVER 0

It was quite impressive to find that the Training Coordinators are present all the times. This was

agreed upon by all the participants. So we can say it was a 100%.

0

5

10

15

20

25

30

always sometimes never

presence of the training dept. people

presence of the training dept.

people



73

9. WHAT ARE YOUR CONCERN AREAS ABOUT THE TRAINING PROGRAMS

BEING CONDUCTED IN THE ORGANISATION?

Response to the question was:

The frequency of training should increase. They are interested in having more sessions of

training.

Also, they feel that the number of Trainers conducting the Training programs should be

multiplied. This was agreed upon by the majority of the participants.

10. WHAT ARE YOUR SUTGGESTIONS FOR IMPROVING THE TRAINING

SESSIONS?

Response to the above question was:

The numbers of trainers who conduct the training sessions are a small number, therefore the

number of trainers should be increased.

The frequency of training should increase. They are interested in having more sessions of

training.



74

OBSERVATIONS AND FINDINGS



75

OBSERVATIONS AND FINDINGS

Observation MethodObservation is very significant and general technique to make new discoveries and to conduct

researches in the field of science. In the field of scientific knowledge and discovery the man

makes new discoveries and learns new facts through observation. Gradually the cumulative

observation leads to invention and manufacture of scientific apparatuses and aids, which

consequently magnifies manifold man‟s power of observation. But in social sciences observationretains its original connotation of being seeing things which naked eyes. Natural observation

occurs when behavior is observed as it is taking place in a normal setting. In natural observationno attempt is made to manipulate the field of study or behavior of the observed.

Definition:

Mrs. P. V. Young – “Observation is a systematic and deliberate study through the eye of spontaneous occurrences at

the time they occur. The purpose of observation is to perceive the nature and extents of significant inter- related elements within complex social phenomena, culture patterns or human

conduct.”

Features of observation:

Observation, an affair of eyes-Observation is done through the medium of eyes. The trainer puts his trust only in that which he

has seen with his own eyes, and only if a report is a first-hand evidence of the eyes can it merit to

be called “observation in the scientific sense of the term.”

Definite aim-Every scientific observation has a peculiar aim. The aim can be verification of hypothesis,

discovery of certain facts or the knowledge of casual relations inherit in a phenomenon.

Planning-Observation needs to be a well organized and systematic effort. In planning of an observation,

certain equipment and instruments are required.

Advantages:

SimplicityThe observation method is very simple and non technical and needs less training for becoming atrained observer.

More accuracy and reliability of data-The data collected under this method are more accurate and reliable because they are based on

first-hand perception by the eyes.

Direct and realistic study-Observation method is most direct means of studying a variety of phenomena which is based on

actual and firsthand experience.



76

Utility in formulating and testing of hypothesis-Observation is the basis of formulating hypothesis in all social sciences.

Useful in the cases where verbal reports cannot be given-Studies may deal with subjects who are not capable of giving verbal reports of their behavior or

feelings for the simple reason that they cannot speak. Such studies depend on observation.

Disadvantages:

Certain things are non observable:There are many mental, notional, emotional, intellectual and sentimental factors which are in the

nature of things not perceivable and hence unobservable.

Subjective explanation:

The final result of observation depends upon the understanding of the observer. The observers

are liable to be carried away by unreal and extra ordinary descriptions.

Low reliability of conclusions

The conclusions based on observation are not very reliable because in observation it is necessaryto depend upon human tact and resourcefulness alone.

Inadequate-The full answer cannot be obtained by observation alone. It must be supplemented by other

methods of study.

Expensive-The method is very expensive being a long drawn process and at times requiring groupobservation. Moreover, for reaching the observer and establishing a rapport with them requires

more money and time.

OBSERVATION AND FINDINGSICICI Prudential, being No.1 private player in life insurance in the country with the largest

distribution network, has made efforts to update its training programs to keep pace with the fast

changing world. In a highly competitive market, such continuous efforts are necessary to be

ahead of competitors.

The major findings with respect to the training program for advisors conducted are –

The advisors have chosen career in insurance to earn additional income and have a quick

career growth.

The advisors have joined ICICI Prudential mostly through references.

The course content is all encompassing, i.e., it covers a study of all aspects of life insurance ,

an overview about economy and introduction to various products of the company and the

unique features of each.



77

The training aids and handouts were found to be of high quality.

The conceptual knowledge and presentation skills of the trainers are rated to be excellent.

The training program is conducted at all the branches and the facilities provided were

considered more than satisfactory.

The advisors had a problem with the duration of the training program and the technical

language of the material.

.



78

SUGGESTIONS



79

SUGGESTIONS

The focus of the study was on advisors who received entry level training in last one to two

months. Many were already employed in different areas and this career formed an additional

source of income for them. They are finding it difficult to manage time for both their regular

work and training classes. Hence, I feel that if possible, the duration of the training program

should be reduced or it should be imparted through distance mode.

The course structure and schedule were found to be unsatisfactory, they want more training

sessions. Also, I feel that the technical language used in the material should be simplified. This

would help them in explaining the products in simple language to the customers.

The suggestions that can be made to improve the training program for advisors are –

The duration of the training program could be reduced.

The training program should be conducted during weekends so that the advisors can

concentrate properly.

The number of Trainers conducting the sessions should also be increased along with the

training program frequency.

Besides in technical language, the concepts should be explained in simple language or

local language also which a layman can understand. This would help the advisors to

interact in a better way with the customers.

Knowledge about one‟s products and also that of the competitors should be provided

to the advisors so that they can handle customer queries well and develop good

selling skills.

The techniques to promote the brand awareness of ICICI Prudential should be included in the

course.

ICICI Prudential should concentrate more on the training programs conducted for the advisors.

For, they are the ones who not only sell the company‟s products but also create and maintain

brand image among the customers. Constant assessment of the advisor‟s skills in order to

upgrade them would go a long way in achieving success in this dynamic industry.



80

CONCLUSION



81

CONCLUSION

It has been a great experience in conducting the survey on my project topic „A STUDY ON

THE EFFECTIVENESS OF TRAINING FOR ADVISORS IN THE INSURANCE

INDUSTRY WITH RESPECT TO ICICI PRUDENTIAL‟ , and has been a privilege to meet

such luminaries in the field of Human Resources.

I sincerely thank and extend my appreciation to the management of ICICI Prudential, Pune for

giving me their valuable time and insight into their well established organisation. I would also

like to thank them, for enlightening me about the various aspects of their organisation.

While coming to the conclusion of the project, I have learnt about the immense importance of

keeping the employees of an organisation updated and in sync with the rapidly growing industry,and the only way to do that is by training them. Training is a great responsibility, not only

because it helps in the improvement of the work of the employee, but also because it helps in

cost saving. So, we can say that the need for training is highlighted here, along with the various

techniques, which are used for training,

So, we can say that training is important in the field of Human Resource Management because it

helps to achieve

Continuous Improvement

Change-in-Attitude

Cost Saving

Total Productivity

Scope for development



82

APPENDICES



83

REQUEST LETTER

To respected Sir/Madam,

I Aishwarya Rishi, a student of Brihan Maharashtra College of Commerce (B.M.C.C), am

doing a project “A STUDY ON THE EFFECTIVENESS OF TRAINING FOR ADVISORS

IN THE INSURANCE INDUSTRY WITH RESPECT TO ICICI PRUDENTIAL”.

It would be gratefully appreciated if you could take out some time from your busy schedule t

help me carry out this survey, by filling the following questionnaire. Please feel free to add

additional remarks in the space provided.

Your help in this regard will be highly appreciated.

Thank you.

Aishwarya Rishi



84

QUESTIONNAIRE ON EFFECTIVENESS OF TRAINING FOR

ADVISORS IN THE INSURANCE INDUSTRY

Serialno.

Questions Options

1. How many training programs have you attended in the present financial year?

2. How do you come to know about the training that you are to

go through?

o Mail from the Training

Department

o Through my supervisor

o Both

3. Do you like the subjects in general that you have to attend for

training?

o Yes

o Sometimes

o Not really

4. How helpful has your training been in the workplace? o Very effective

o Somewhat effective

o Nothing much

5. Has your training had a direct relationship with your job

performance?

o Always

o Most of the time

o Sometime

6. Do you think that your training has been effective in

enhancing your performance?

o Totally

o To some extent

o Not at all

7. What has been the ratio of the types of training in the last

year?

o Technical

o Behavioural

o Knowledge

Enhancement



85

****************** THANKYOU *****************

8. What in your opinion should be the focus of training on? o Technical

o Behavioural

o Knowledge

Enhancement

9. Are your training programs held in…..? o Training rooms

o Outdoor places

o Both

10. What type of environment do you think is most effective for

training? Give a ratio out of hundred. (E.g. 30:40:30.)

o Indoor

o Experiential

o Outdoor

11. Have your Coordinators been present in the training

programs?

o Always

o Sometimes

o Never

12. What are the general complaints about training programs?

13. Your suggestions for improving the training sessions.



BIBLIOGRAPHY

WEBSITES

www.iciciprulife.com

www.ficci.com

www.citehr.com

STUDY

Through email, friends, and company employees.

MAGAZINE

Insurance chronicle, Vol-VII, Issue-XI, November 2007

BOOKS

1. Cheng, Patrick Low Kim. “Training Success: understanding the learning and

training essentials.” Hyderabad , ICFAI University Press, 2005

2. Goldstein, Irwin.L. “Training in Organizations.” Thomas Wadsworth, 2001

3. Raju,P.V.L. “Training: Needs and Evaluation”( ed.), Hyderabad , ICFAI

University Press, 2005

4. Reddy, Dr.B.Rathan. “Effective HR Training and Development Strategy.”

Himalaya Publishing House, 2007

http://www.iciciprulife.com/

http://www.ficci.com/

http://www.citehr.com/

http://www.citehr.com/

http://www.ficci.com/

http://www.iciciprulife.com/

aishwarya project

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