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Effectiveness of training in an insurance company

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  1. Introduction
  2. Employee training methods
    1. On The Job Training and Off The Job Training
    2. Limitations of the study
  3. Training schedule and structure
    1. Practical training methodology
    2. Product training
    3. Enhanced Training Program
  4. Analysis and interpretation
  5. Research and investigation
  6. Conclusion

Michael Armstrong defines training as the ?systematic development of the knowledge, skills and attitudes required by an individual to perform adequately a given task or job?. Training can also be defined as the mechanism that is used to enhance the skills of an individual or that of a team to help them work in a better and more effective manner. Training suggests methods of improving the efficiency and effectiveness of work. For the success of every training program, every employee should be convinced about the utility and effectiveness of the program. Every successful training program results in improving the individual's performance which in turn improves organizational performance. Other than improving performance, training also results in updating employee skills, avoiding managerial obsolesce, preparing for promotion and managerial succession, retaining and motivating employees and above all, creating an effective and efficient organization.

[...] In an insurance company, training is the back bone of the organization, especially to keep up with the changing trends of the insurance sector. The sales managers and life advisors have to keep themselves updated in order to stay ahead in the game. EMPLOYEE TRAINING METHODS: Training methods are mainly classified into the job' training and the job' training. The sub categorization is mentioned as below. On The Job Training: As the term suggests, the trainee is exposed to the actual work situation in the real job environment. [...]

[...] As investments and insurance policies become more and more complicated many individuals as well as businesses are finding that they lack both the time and knowledge to purchase such policies without the help of an agent. And, because most individuals and businesses consider insurance an important necessity, agents are not likely to face unemployment because of an economic recession. Product Training: The product training is carried out for a period of 45 hours which is covered in a span of five and a half days. [...]

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