Human Resource Management .

Job Evaluation In Bank & Insurance Company

Names Roll No

Aanchal Chavan 51Nimisha ghetal -Siddesh goregaonkar -Kaushik kambale -

Members

LIFE INSURANCE CORPORATION OF

INDIA

INTRODUCTION

The Life Insurance Corporation of India (LIC) (Hindi भारतीय जीवन बीमा निनगम) is the largest state-owned Life Insurance company in India and also the country's largest investor. It is fully owned by the Government of india

mission and vision

MISSION: “Explore and enhance the quality of life of

people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development."

Vision"A trans-nationally competitive financial conglomerate of significance to societies and Pride of India."

OBJECTIVE

Maximize mobilization of people's savings by making insurance-linked savings adequately attractive.

Conduct business with ulmost economy and with the full realization that the moneys belong to the policyholders.

Act as trustees of the insured public in their individual and collective capacities.

The various life insurance needs of the community that would arise in the changing social and economic environment.

HISTORY AND IMPLEMENTATION

The Oriental Life Insurance Company, the first corporate entity in India offering life insurance coverage,was

established in culcutta 1818 by Bipin Bernard Dasgupta and otHers.

The Life Insurance Act and the Provident Fund Act were passed in 1912, providing the first regulatory mechanisms in the Life Insurance industry.

The Indian Insurance Companies Act of 1928 authorized the government to obtain statistical information from companies operating in both life and non-life insurance areas.

JOB ANALYSIS

Job analysis is a study of a job in order to find out when an employee does and what are the skills that are require to do his job.

Job Analysis Involve study of the nature of job and qualities and qualifications require for performing the job.

Components of Job Analysis

Job Analysis

Job Description Job Specification

Job Description

A job description is a board statement of the purpose, scope, duties, and responsibility of a particular job.

JOB SPECIFICATION

A job specification is a statement of the minimum acceptable human qualities necessary to perform a job properly

JOB EVALUATION

Job evaluation is the process of systematically determining a relative internal value of a job in an organization.

In all cases the idea is to evaluate the job, not the person doing it.

JOB EVALUATION METHOD

Ranking method: Classification method: Factor comparison method:Point method:

COMPARISION OF JOB EVALUATION METHOD

(ADV & DIS.ADV) JOB RANKING METHOD Grading method Point system method Factor comparison method

OBJECTIVE OF JOB EVALUATION

BENEFITS OF JOB EVALUATION

COMPARATIVE STUDY OF LIC &

ICICI

LIC VS ICICI

WHY LIC IS BETTTER THAN

OTHER INSU CO. Member of INSU CO. IN INDIA No of Offices First Year Life Insurance Premium Business in Force (No. Of Policies)

BEST INSU. CO. IN INDIA

PositionsAward – RecognitionHonouring of the Commitment Advanced TechnologySocial Strength People's Money for People's WelfareFinancial Strengths

BENEFITS OF LIC JEEVAN AROGYA FOR

EMPLOYEES Today life INSURANCE company LIC launched

the health insurance plan ‘Jeevan Arogya’ which offers many benefits for your entire family.

LIC of India will be the first company to have such a comprehensive hospitalization benefits.

All working employees and retirees can equally benefit from the LIC ‘Jeevan Arogya ‘plan.

PRACTICAL ILLUSTRATION

  In 1956, the life insurance business of all

companies was nationalized and a single monolithic organization,

the Life Insurance Corporation of India (LIC), was set up.

Today, life insurance is almost entirely IN the hands of the LIC.

Steps in developing HRM strategy

Step 1: Get the 'big picture‘ Step 2: Develop a Mission Statement or

Statement of Intent Step 3: Conduct a SWOT analysis of the

organizationStep 4: Conduct a detailed human resources analysis

Step 5: Determine critical people issues Step 6: Develop consequences and solutions