01 Sep 2010|Noida | Amity University, Noida Campus
HR stalwarts from Insurance Industry dole out suggestions for “Employee Retention” during HR Summit by Amity School of Insurance and Actuarial Science
To commemorate the first decade of Amity School of Insurance and Actuarial Science, the institute has organized industry interface in the form of “HR Summit”: “Workshop on IT in Insurance” and “Seminar on Grievance Redressal” from September 1- 4, 2010 at Amity University, Sector- 125, Noida.
Inaugurating HR Summit,
Mr. Rajesh Kalra- Managing Director, RMSI and Internationally renowned Geo-spatial expert shared several employee retaining initiatives that made RMSI “ Best Employer in India” amongst all industries for three years in a row, as per “ Great Places to Work for” survey conducted by Great Places to Work Institute, USA. In order to retain the most important asset of the organizations ie. employees, Mr. Kalra suggested the management of the organizations to treat the employees with respect and dignity, acknowledge their drive to succeed and provide them adequate opportunities to achieve the same and repose trust in them.
Welcoming the delegates and participants,
Prof. R R Grover- Director, Amity School of Insurance and Actuarial Science (ASIAS) presented an overview of the day long Summit. He shared that the unfolding sessions on “ Employee Retention”, “ How to groom young leaders for 2012 for productivity enhancement” and “ Gap between Corporate policy and implementation at ground level” will mutually benefit the industry and the students and will address the major concerns about grooming the insurance professionals as per the demands of the industry.
The inauguration was followed by a technical session on “Employee Retention”, which was addressed by eminent HR stalwarts.
Sharing his views during the session,
Mr. Devi Singh- GM (Personnel), Oriental Insurance Co. said that in every industry customer satisfaction is paramount, relationship building is the first step towards customer satisfaction and needless to say, customer astonishment is the apex of customer satisfaction. He shared how the attrition rate of his organization from the time he joined fall from 3% to meager .4% at present through the effective use of communication channels, feedback system, timely promotions and increments and making work culture conducive to productivity, which boosted the morale of the employees manifold.
Talking about the General Insurance Sector and the HR related problems faced by the sector,
Mr. Ankur Sood-Chief Manager (Human Resources), Reliance General Insurance emphasized that with the opening up of general insurance sector and ensuing tariff wars, the pressure on bottom line and top line to deliver has increased, they have mind boggling targets to fulfill resulting in high attrition rates and poaching amongst the insurance companies. Suggesting the panacea to the problem, Mr. Sood recommended the insurance companies to promote “engagement activities”, “participative management”, “recruitment from non-domain background”, “benchmarking of salary”, “ meritocracy based reward system” and “job rotational and job enlargement opportunities” in the organization.
During the subsequent technical sessions on “How to groom young leaders for 2012 for productivity enhancement” and “Gap between Corporate Policy and implementation at ground level”, eminent speakers from the corporate such as
Mr. Rajan Kalia, Director – HR, Max New York Life, Mr. V Natarajan, VP Zonal Head HR, TATA AIG Life, Ms. Meenakshi Sarkar, Associate Director –HR, Metlife India, Mr. Mukesh Kumar, Head HR, HDFC Ergo General Insurance and Ms. Preeti Kalra, VP-HR, Sriram Life
Delegates and speakers from IT, Banking and Finance sector participated in the Summit.
A “Workshop on the use of IT in Insurance Sector” will be conducted on September 3, 2010 during which the IT experts from the Insurance Sector with interact with the students of ASIAS and augment their knowledge in the respective domain.
The Seminar on Grievance Redressal on September 4, 2010 will be inaugurated by Mr. Anupam Das Gupta, Hon’ble Member, National Consumer Disputes Redressal Commission, Govt. of India. Dr. R.K. Kaul, Chairman and Managing Director, Oriental Insurance Company and Shri Rajesh Relan, Managing Director, Max New york Insurance Co. Ltd. will be given awards for excellence in their respective fields.