Effectiveness of Training in Life Insurance Sector: Evidence from India

After the recent economic meltdown, it was very difficult for the organizations to maintain sustainability. It has been observed that varieties of strategies were taken by different organizations to cope up with the situation and maintain profitability. Financial institutions i.e. Banking, insurance, share-brooking firms etc were most affected due to economic meltdown. Organizations have not emphasized on re-engineering of job through training & development of employees, but they have retrenched employees. Life Insurance Corporation of India (LICI) is a public insurance company with large number of workforce. The organization is maintaining its sustainability year after year without retrenching any employee. The main source of revenue in this institution is insurance premium and return out of long-term investments. Apart from other business strategies, proper utilization of work force can be one of the main reasons of success for the company. Today performance of an organization and strategic business decisions are largely linked to effective training and development of human resources. Training & development has become the integral part for success and viability of any organization. In this paper, researchers have strongly felt that proper training and strategic application of knowledge & expertise can contribute to financial health and overall efficiency of the organization. Therefore, researchers´ aims at exploring the effectiveness of training & development program on employees of LICI at four level of Kirkpatrick´s model, i.e. reaction, learning, behavior and results.