Human Resource Development Practices: A Study of Public and Private Life Insurance Companies

The human resource development comprises of three areas namely individual development, occupational development and organizational development. The ultimate objective of HRD is to contribute to the professional well-being, motivation and pride of the employees. The Indian insurance sector is the most dynamic sector of the Indian economy both in terms of employment potential and contribution to national income. The present paper which studies the prevailing human resource development practices of life insurers in India is two dimensional. Firstly, it portrays prevailing human resource development practices of public and private life insurers in India. Secondly, it examines the job satisfaction level of marketing functionaries working in both public and private life insurance companies. The study reveals that the public and private life insurance companies have their own HRD departments which are responsible for preparing the training and development programmes for their sales force. Further, the life insurance companies train their sales force at regular intervals of time. It is suggested that attempts should be made by life insurance companies to make harmonious relationships among office staff and marketing functionaries to boost the morale of marketing personnel which results in high level of job satisfaction.