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Auto-hide: on
“Training & Development
Training & Development
Training & Development
Training & Development”
1
A
Summer Training Project Report
On
Of
Of
Of
Of
IN THE PARTIAL FULFILLMENT OF THE DEGREE OF
MASTER OF BUSINESS ADMINISTRATION
2009
Affiliated to jiwaji University, Gwalior
Submitted to :
Submitted by
Mrs. Ritu Singh
Mahendra Singh Sikarwar
(HOD) MBA
MBA (FC) II sem
Roll No.

2
INDEX
 Acknowledgement
 Executive Summary
Chapter-1Introduction
1.1. Introduction of Insurance
1.2. Definition
1.3. Classification of Insurance
1.4 History of insurance
1.5 Company profile
o About ING
o Mission, value and Personality
1.6 Brand Positioning
1.7 Product Portfolio
Chapter-2 Training And Development
2.1. Introduction
2.2. Approaches of Training and Development
2.3. Objectives of Training and Development
2.4. Process of Training and Development
2.5. Importance of Training and Development
2.6. Methods of Training and Development
2.7. Evaluation of Training and Development
Chapter-3 Data Analysis and Findings
3.1. Data Collection
3.2. Data Analysis & Interpretation
Chapter-4 Conclusion and Suggestions
4.1. Limitations
4.2. Suggestion
4.3. Conclusion
 Bibliography
 Questionnaire
3
ACKNOWLEDGEMENT
I had sincerely expressed my ineptness & gratitude towards
Mr. Manish Sharma ING Vysya Life Insurance for giving me an
opportunity to join this esteem organization for 45 days of summer training.

My summer training in ING Vysya Life Insurance GWALIOR, of duration 45 days has been quite

successful. During my stay for 45 days, I had received full co-operation from employees and officers of the

HDFC Standard Life Insurance, Gwalior. The practical visualization of the summer training has helped me to

understand a lot of practical things.

In order to acquire myself to the task of the organization and to analyze them, I met staff who helped by

their kind co-operation and guidance. During the training they have been giving the practical knowledge.
I would be special thank to our college faculty Mrs. Ritu Singh (HOD),
Mr. Nitin Saxena, Mr. Manoj Sir, Mr. Rakesh Rajput, Mr. Sudeep Shrivastava
and Ms. Jyoti Jainunder supervision this topic. This Acknowledgement would be
incomplete if I fail to express my deep gratitude towards all the facility of NRI
College of Management who gave me a lot of support and guidance.
Last but not least I would be special gratitude to our all friends who heartening
me to complete this project.
4
EXECUTIVE SUMMARY
This project is based on the annual reports of the ING Vysya Life Insurance. It is done to find out whether

the ING Vysya Life Insurance are improving our capital structure or not.
Further, in this Project
Chapter 1 includes the introduction of the company wherein I told about the
Objectives of the study and profile of the ING Vysya Life Insurance.
Chapter 2 includes the Research Methodology wherein I have discussed the Research
Design and Various sources of the Data Collection.
Chapter 3 includes the Data analysis and Findings wherein I have analyze the data
collected from the departmental records, annual reports and web site records.
Chapter 4 represents the conclusion and the suggestions based on the departmental
records and annual report.
Chapter 1
5
Introduction of ING
6
INTRODUCTION
1.1 INTRODUCTION OF INSURANCE:

Insurance is commerce. Insurance product is a financial contract entered into by parties with a define

consensus of mind. Insurance, in its purest from, is a risk management tool, a security blanket. It provides

financial protection against unexpected events. When we buy insurance, effectively a portion of risk is

transferred to the insurer. This protection comes at a price, but it’s a function of what we might otherwise find

ourselves burdened with. Whatever stage of life we are at, chances are, and we need insurance.
1.2 DEFINITION:

Insurance can be define as” a contract by which insurance agrees to pay the insured a compensation for

specified damage loss or injury suffered in exchange for periodic payment called premium”

Insurance cannot prevent the happening of the event; it can protect a person from the financial losses he may

suffer after the happening of the event. Therefore, insurance if aimed at compensating the financial loss

suffered an insured event.

1.3 CLASSIFICATION OF INSURANCE:
Insurance is basically classified into two categories.
(1)
Life Insurance
(2)
General Insurance
Life insurance:

This is provided for the payment of sum money on the death of the insured person due to natural causes or on

the expiry of a certain number of years if the insured person is then alive. Death and life neither of them can be

compensated. Life insurance aims to compensate the ‘Income Earning Capacity’ of the person.
7
Events covered in Life Insurance:

In Life Insurance, income –earning capacity of the person is covered. The loss of the income earning capacity

can be on the happening of the following events when the life is assured.
1. Death.
2. Sickness (critical illness).
3. Accident (Death or permanent disability due to accident).
4. Retirement.
Objectives and advantages of life insurance:
•
Protection against Risk of Untimely Death:
•
Protection during old age:
•
Forced savings:
•
Educational Requirement and Charity:
•
Nomination and Assignment:
•
Marketability and Suitability for Borrowing:
•
Loan from the Insurance Company:
•
Investment Option.
•
Tax Benefits:
•
Protection to Wife and Children:
General Insurance:

Insurance other than life fall under general insurance. It covers loss of every other physical or non-possession.

The loss may be due to fire, theft, accident etc. the general insurance is further classified into-
•
Fire insurance:
•
Marine Insurance:
•
Miscellaneous Insurance:
8


Insurance began as a way of reducing the risk of traders, as early as 5000 BC and 4500 BC in.

Life insurance dates only to ancient Rome; "burial clubs" covered the cost of members' funeral expenses

and helped survivors monetarily. Modern life insurance started in late 17th century, originally as insurance

for traders: merchants, ship owners and underwriters met to discuss deals at Lloyd's Coffee House,

predecessor to the famous.

The first insurance company was formed in 1732, but it provided only fire insurance. The sale of life

insurance in the U.S. began in the late 1760s. The Synods in and created the Corporation for Relief of

Poor and Distressed Widows and Children of Presbyterian Ministers in 1759; Episcopalian priests

organized a similar fund in 1769. Between 1787 and 1837 more than two dozen life insurance companies

were started, but fewer than half a dozen survived. Prior to, many insurance companies in the United

States for their owners, in response to bills passed in 2001 and in 2003, the companies have been

required to search their records for such policies for example reported that Nautilus sold 485slaveholder

life insurance policies during a two-year period in the 1840s; they added that their trustees voted to end

the sale of such policies 15 years before the.

General information:

Human have always sought securities. This quest for security was an important motivating force

in the earliest formation of families, clans, tribes, and other groups. Indeed, groups have been the primary
source both emotional and physical security since the beginning of humankind. They ensured a less

volatile source of life necessities then that which ensures isolated human & families could provide and

help their less fortunate members in the time of crises.

9
The principle kinds of insurance are as follows:
• L i f e - t e r m ,
o r d i n a r y ,
e n d o w m e n t ,
l i m i t e d p a y m e n t ,
g r o u p i n d u s t r i a l
a n d
annuities, with a variety of combinations of the four basic forms.
• F i r e & m a r i n e -
f i r e , o c e a n
m a r i n e , m o t o r
v e h i c l e , i n l a n d
n a v i g a t i o n , a n d
transportation, tornado and windstorm, sprinkler leakage, earthquake,
riot and civil commotion, explosion rain, hale, flood, aircraft, etc.
• C a u s a l i t y a n d
s u r e t y - a u t o m o b i l e
l i a b i l i t y ,
l i a b i l i t y o t h e r
t h a n

automobile workers, compensation, fidelity and surety, burglary and theft, automobile property damage,

accident in health, steam boiler, machinery, plate glass, etc.

Four classes of insurance business:
• L i f e i n s u r a n c e

• F i r e i n s u r a n c e

• M a r i n e i n s u r a n c e

• M i s c e l l a n e o u s

i n s u r a n c e .
Customer Protection:

Insurance industry has ombudsmen in 12 cities. Each ombudsman is empowered to redress

customer grievances in respect of insurance contracts on personal lines where the insurance amount is

less than 20 Lakhs, in accordance with the ombudsmen scheme. Address can be obtained from the

officers of LIC and other insurers.

10
1.5 COMPANY PROFILE
Introduction:

ING is a professionally managed organization with a board of directors consisting of eminent persons who

represent various fields including finance, taxation, construction and urban policy & development. The
board primarily focuses on strategy formulation, policy and control, designed to increasing value to

shareholders.

ING is a global financial institution of Dutch origin offering banking, insurance and asset

management to over 85 million private, corporate and institutional clients in over 40 countries. With a

diverse workforce of approximately 125,000 people, ING is dedicated to setting the standard in helping

our clients manage their financial future

About ING:

ING Vysya Life Insurance (ING Life), a part of the ING Group the world’s largest financial services

corporation entered the private life insurance industry in India in September 2001. Headquartered at

Bangalore, ING Life India is staffed by over 6,000 employees and services more than 8 lakhs customers.

ING Life India is a joint venture between ING Group (ING Insurance International B.V.), Exide

Industries, Ambuja Cements Limited and Enam Group.ING Life has a pan India network, and distributes

its products through

two channels, the Tied Agency Force and the Alternate Channel. The Tied Agency force comprises of

over 60,000 ING Life Advisors, spread across the country. The channel has branches in 234 cities, and

366 sales teams across the country. The Alternate Channels business within ING Life is one of the fastest

growing distribution channels. The company currently has tie ups with over 200 cooperative bank across

the country. The Alternate Channels division has

11
Bancassurance (ING Vysya Bank), Referral Banks, Corporate Agents, Brokers
and SMINCE.
About ING in India

ING operates through three businesses in India, ING Vysya Life Insurance, ING Vysya Bank and ING

Investment Management. ING Vysya Bank is a premier private sector bank with over 76-year heritage

and 1.5 million satisfied customers. ING Investment Management believes in providing investors with the

knowledge & opportunity to manage their future easily.

12
Mission Values and Personality:
Our mission
At ING Life, our mission is ‘To set the standard in helping our customers
manage their financial future.’
Our business is driven on our values of Optimism, Knowledgeable,
Trustworthy and Transparent.
•

Optimism: We bear an approach of ‘Optimism’ towards our company,

towards each other, in our products and in our care for our customer’s
interests.
•

Knowledgeable: We cultivate the knowledgeable value through our

robust way of working, sharing and actively communicating.
•

Trustworthy: We deliver trustworthiness by doing the ‘right things in

right way’, by delivering an ‘easier’ customer experience and by being a
socially responsible corporate.
•

Transparent: Our value of ‘transparent’ drives our actions, reflects in

our products and services.
Values and personality
Our values are personified by our people through a set of ‘Personality aspects’. These personality
aspects are: Positive, Professional, Accountable and Transparent.
•

Positive: ING Life India employees live its value of optimism by

bearing a positive and can-do attitude to their work.
•
Professional: At ING Life India, we expect the highest standard of
professional behavior by providing professional advice to customers, by treating customers equitably,
abide by company’s culture and act with compliance.
•

Accountable: ING Life India expects employees to be accountable for

their actions, words and decisions such that it builds their personal
integrity and fosters ING Life India’s value of trustworthiness.
•

Straightforward: ING Life India expects employees to be

straightforward in their conduct and work while dealing with customers
and colleagues.

13
1.6
Brand Positioning
The Brand Essence of ING Life is, ‘Experience the joy of fulfilling your responsibility’. This

essence is captured in the unique brand positioning ‘Mera Farz’, developed in 2007. This positioning

means, ING Life helps its customers fulfill their responsibilities as provider towards themselves and their

families. As part of the ING Group, the world’s largest financial services company, ING Life provides its

customers with the strength, reliability and the right balance between long-term savings, security &

reasonable returns.

This powerful positioning has helped ING Life create a distinct identity for itself. The latest brand

campaign in 2008 portrays how key life-stages in our lives, such as marriage, birth of a child, children’s

education, retirement, bring unexpected financial worries along with happiness. However, we can

overcome these burdens with prudent financial planning and a helping hand from ING Life, thus fulfilling

our responsibilities towards our family.

14
1.7
Product Portfolio
ING Life follows a "customer centric approach" while designing its

products. The Company's product portfolio offers products that cater to every financial requirement, at all

life stages. ING Life has developed an exclusive tool - the LifeMakerTMa simple tool which helps our

customers choose a plan most suitable to them, based on their needs, requirements and current life

stage. This tool helps build a

complete financial plan for life at every lifestage, whether the requirement is
Protection, Savings, Retirement or Investment.
Individual Life Insurance Products
ING Life Insurance aims to make customers look at life insurance afresh, not
just as a tax saving device but as a means to live life to the fullest. It believes in
enhancing the very quality of life, in addition to safeguarding an individual's
security.
The Company follows a “customer centric approach” while designing its

products. The ING Life product portfolio offers products that cater to every

financial requirement, at all life stages.

Go ahead and pick your requirement to find life insurance plans that best match

your needs.
Protection
Secure your family’s
financial future.
Savings
Save for your aspirations and
life goals.
Investment
Invest now for a better
future.
Retirement
Lead your retired life on
your own terms.
15
Protection Plans
Our Protection Plans help you ensure that your family continues to enjoy a comfortable lifestyle even in

your absence. We make available a variety of plans to provide you with the flexibility of choosing one that

fits your and your family’s needs the best. We recognize protection as the basic insurance need and have

therefore kept our products comprehensive yet economical for you.

So go ahead, get an ING Protection Plan and secure your family’s financial
future!
•

ING Term Life

Simplest and most economical form of term life insurance. Large sum
assured at highly affordable premium rates.
•

ING Term Life Plus

Term insurance product with return of premium. Large sum assured at
affordable premium rates.
Saving Plans
Our Saving Plans help you achieve your life goals making them cherished moments for you and your

family. They provide you with the flexibility to save for your future requirements while you continue to

improve your current lifestyle. Our plans help discipline your savings approach and point your efforts

towards defined goals so that whatever stage of life you are in, you are always in control and self-reliant.
So go ahead, get an ING Savings Plan to achieve your life goals!
•

ING New Prime Life (Unit Linked Insurance Plan)

Saving cum protection plan with features like loyalty additions,
increasing sum assured, accidental coverage and option to extend term.
•

Reassuring Life Endowment Plan (Reversionary Bonus)

16
Savings plan with a highly reliable safety net for your family in case
something happens to you.
•

Creating Life Child Protection Plan

Ideal savings plan for new parents. Payment to child in case of death of parent and at maturity. Future

premiums waived in case of death of parent.

•

Creating Life Money Back Plan

Savings plan for new parents with money back. Double benefit of a life
cover along with periodic cash returns during the term of the policy.
•

Safal Jeevan Endowment Plan

Comprehensive protection and savings plan with an in-built accident cover. Option to choose from a pre-

packaged range of fixed terms and premiums.

•

Safal Jeevan Money Back Plan

Ideal plan as a first life insurance policy. Choose a suitable policy term from pre-packaged solutions.

Payouts at regular intervals during policy term.

•

ING New Creating Star (Unit Linked Insurance Plan)

A perfect plan that helps to ensure that your child has financial support
when it is needed the most.
•

ING Freedom Plan (Unit Linked Insurance Plan)

Saving cum protection plan with features like flexible investment strategy, loyalty additions, option to avail

survival benefits at regular intervals and additional protection through riders

Investment Plans
Our Investment Plans are created keeping your needs in mind. We appreciate the flexibility required to

suit your risk appetite and the commitments you may want to make. Our global expertise in managing

wealth for individuals at all

17
stages in their life ensures that we have products to suit your taste whatever
your objective of investing may be.
So go ahead, get an ING Investment Plan to reach your goals faster!
•

ING Flexi Life

A Unit Linked Insurance Plan with an option to increase / decrease
regular premium. Offers Flexibility in premium payment.
•

ING Flexi Life Plus

A Unit Linked Insurance Plan with an option to increase / decrease
regular premium. Offers Enhanced Accidental Protection Benefit.
•

Powering Life

Investment plan with high reversionary bonus. Premium payments for a short period of time, life cover for

a longer period and high maturity benefits.

•

New One Life

Single premium unit linked insurance plan. Flexibility to choose your
life cover. Top-ups as per your convenience.
•

Platinum Life Plan

Investment plan with a 10 year duration. Simple guaranteed additions
on sum assured apart from bonuses and loan facility.
•

New Fulfilling Life Plan

Investment plan with double benefit of periodic cash returns during
policy term and maturity or death benefit.
Retirement Plans
Our Retirement Plans ensure that you lead your life after retirement on your own terms, doing things you

have always dreamt of. We also believe it is important to be in control of your retirement planning. Our

innovative features
18
help you choose your retirement age and also control the way your investments
are managed keeping in mind your retirement needs.
So go ahead, get an ING Retirement Plan and retire on your own terms!
•

ING New Best Years

Retirement plan with capital guarantee and plenty of flexibility, to help build a sizeable financial asset for

you or your family, in case you’re not around.

•

ING Future Perfect (Unit Linked Insurance Plan)

A perfect solution for protection while you earn and regular income
after you retire.
•

ING New Golden Life (Unit Linked Insurance Plan)

A unit linked pension plan that allows you to plan your retirement at
your own pace.
Group Plans
A variety of plans to provide a cost effective yet comprehensive cover in an

efficient manner to all your employees, helping you attract and retain the best

of talent.
•
ING Smart Shield
•
Group Gratuity
•
Employee Deposit Linked Insurance
•
Group Term Life Insurance Plan
•
Single Premium Level Term Plan
19

Chapter 2
Training
Training
Training
Training & Development
& Development
& Development
& Development
20
2.1 Introduction
!"#
Training is an educational process. People can learn new information, re-learn

and reinforce existing knowledge and skills, and most importantly have time to think and consider what

new options can help them improve their effectiveness at work. Effective trainings convey relevant and

useful information that inform participants and develop skills and behaviors that can be transferred back

to the workplace.

The goal of training is to create an impact that lasts beyond the end time of the training itself. The

focus is on creating specific action steps and commitments that focus people’s attention on incorporating

their new skills and ideas back at work.

Training can be offered as skill development for individuals and groups. In general, trainings

involve presentation and learning of content as a means for enhancing skill development and improving

workplace behaviors.
Organizational Development is a process that “strives to build the capacity to

achieve and sustain a new desired state that benefits the organization or community and the world

around them.” (from the Organizational Development Network website) OD work implies creating and

sustaining change.

An OD perspective examines the current environment, the present state, and helps people on a

team, in a department and as part of an institution identify effective strategies for improving performance.

In some situations, there may not be anything “wrong” at the present time; the group or manager may

simply be seeking ways to continue to develop and enhance existing relationships and performance. In

other situations, there may be an identifiable issue or problem that needs to be addressed; the OD

process aims to find ideas

21
and solutions that can effectively return the group to a state of high
performance.

These two processes, Training and Organizational Development, are often closely connected.

Training can be used as a proactive means for developing skills and expertise to prevent problems from

arising and can also be an effective tool in addressing any skills or performance gaps among staff.

Organizational Development can be used to create solutions to workplace issues, before they become a

concern or after they become identifiable problem

2.2 Approach Of Training & Development
Traditional Approach – Most of the organizations before never used to believe
intraini ng. They were holding the traditional view that managers are born and not made. There were

also some views that training is a very costly affair and not worth. Organizations used to believe more in

executive pinching. But now the scenario seems to be changing.

The modern approach of training and development is that Indian

Organizations have realized the importance of corporate training. Training is

now considered as more of retention tool than a cost. The training system in

Indian Industry has been changed to create a smarter workforce and yield the

best results

22
2.3 Objectives Of Training And Development
The principal objective of training and development division is to make sure the availability of a skilled and

willing workforce to an organization. In addition to that, there are four other objectives: Individual,

Organizational, Functional, and Societal.

Individual Objectives – help employees in achieving their personal goals,
which in turn, enhances the individual contribution to an organization.
Organizational Objectives – assist the organization with its primary objective
by bringing individual effectiveness.
Functional Objectives – maintain the department’s contribution at a level
suitable to the organization’s needs.
Societal Objectives – ensure that an organization is ethically and socially
responsible to the needs and challenges of the society.
23
2.4 Process of Training & Development
•

Determine the mission of the organization.

•

Define the job functions/requirements of each employee.

•

Determine the training needs of the department.

•

Decide which are the most important objectives/priorities of the organization.

•

Know how much time/money is available.

•

Evaluate the curriculum. Does it mirror the objectives, needs, and

mission of the organization?
Evaluate the results of the training.

24
2.5 Importance Of Training & Development
• O p t i m u m
U t i l i z a t i o n o f
H u m a n R e s o u r c e s –
T r a i n i n g a n d
D e v e l o p m e n t

helps in optimizing the utilization of human resource that further helps the employee to achieve the

organizational goals as well as their individual goals.

• D e v e l o p m e n t o f
H u m a n R e s o u r c e s –
T r a i n i n g a n d
D e v e l o p m e n t h e l p s
t o

provide an opportunity and broad structure for the development of human resources’ technical and

behavioral skills in an organization. It also helps the employees in attaining personal growth.
• D e v e l o p m e n t o f
s k i l l s o f
e m p l o y e e s –
T r a i n i n g a n d
D e v e l o p m e n t h e l p s
i n
increasing the job knowledge and skills of employees at each level.
• P r o d u c t i v i t y –
T r a i n i n g a n d
D e v e l o p m e n t h e l p s
i n i n c r e a s i n g t h e
productivity of the employees that helps theor ganizati on further to achieve
its long-term goal.
• T e a m s p i r i t –
T r a i n i n g a n d
D e v e l o p m e n t h e l p s
i n i n c u l c a t i n g t h e
s e n s e o f
team work, team spirit, and inter-team collaborations. It helps in inculcating
the zeal to learn within the employees.
• O r g a n i z a t i o n
C u l t u r e – T r a i n i n g
a n d D e v e l o p m e n t
h e l p s t o
d e v e l o p a n d
improve the organizational health culture and effectiveness.
• O r g a n i z a t i o n
C l i m a t e – T r a i n i n g
a n d D e v e l o p m e n t
h e l p s b u i l d i n g t h e
positive perception and feeling about the organization. The employees get
these feelings from leaders, subordinates, and peers.
25
• Q u a l i t y –
T r a i n i n g a n d
D e v e l o p m e n t h e l p s
i n i m p r o v i n g u p o n
t h e q u a l i t y
of work and work-life.
• H e a l t h y w o r k
e n v i r o n m e n t –
T r a i n i n g a n d
D e v e l o p m e n t h e l p s
i n
creating the healthy working environment. It helps to build good employee,
relationship so that individual goals aligns with organizational goal.
• H e a l t h a n d S a f e t y
– T r a i n i n g a n d
D e v e l o p m e n t h e l p s
i n i m p r o v i n g t h e
health and safety of the organization thus preventing obsolescence.
• M o r a l e – T r a i n i n g
a n d D e v e l o p m e n t
h e l p s i n i m p r o v i n g
t h e m o r a l e o f t h e
work force.
• I m a g e – T r a i n i n g
a n d D e v e l o p m e n t
h e l p s i n c r e a t i n g
a b e t t e r c o r p o r a t e
image.
• P r o f i t a b i l i t y –
T r a i n i n g a n d
D e v el o p m e n t l e a d s
t o i m p r o v e d
p r o f i t a b i l i t y
and more positive attitudes towards profit orientation.

26
2.6 Methods Of Training
There are various methods of training, which can be divided in tocogni tive
and behavioral methods. Trainers need to understand the pros and cons of
each method, also its impact on trainees keeping their background and skills in
mind before giving training.
There are various methods of training, which can be divided in tocogni tive
and behavioral methods. Trainers need to understand the pros and cons of
each method, also its impact on trainees keeping their background and skills in
mind before giving training.
Cognitive methods are more of giving theoretical training to the trainees. The

various methods under Cognitive approach provide the rules for how to do something, written or verbal

information, demonstrate relationships among concepts, etc. These methods are associated with

changes in knowledge and attitude by stimulating learning.

The various methods that come under Cognitive approach are:

• L E C T U R E S

• D E M O N S T R A T I

O N S
• D I S C U S S I O N S

• C O M P U T E R B A S E D

T R A I N I N G ( C B T )

• I N T E L L E G E N T

T U T O R I A L

S Y S T E M ( I T S )

• P R O G R A M M E D

I N S T R U C T I O N ( P I )

• V I R T U A L R E A L I T Y
Behavioral methods are more of giving practical training to the trainees. The
various methods under Behavioral approach allow the trainee to behavior in a
real fashion. These methods are best used for skill development.

27
The various methods that come under Behavioral approach are
GAMES AND SIMULATIONS

• B E H A V I O R -

M O D E L I N G

• B U S I N E S S G A M E S

• C A S E S T U D I E S

• E Q U I P M E N T

S T I M U L A T O R S

• I N - B A S K E T

T E C H N I Q U E

• R O L E P L A Y S
Both the methods can be used effectively to change attitudes, but through
different
means.
Another Method is MANAGEMENT DEVELOPMENT METHOD –
MANAGEMENT DEVELOPMENT –

The more future oriented method and more concerned with education of the employees. To become a

better performer by education implies that management development activities attempt to instill sound

reasoning processes.
Management development method is further divided into two parts:
ON THE JOB TRAINING –
The development of a manager's abilities can take place on the job. The four
techniques for on the job development are:
• C O A C H I N G
28

• M E N T O R I N G

• J O B R O T A T I O N

• J O B I N S T R U C T I O N

T E C H N I Q U E ( J I T )
OFF THE JOB TRAINING –
There are many management development techniques that an employee can
take in off the job. The few popular methods are:

• S E N S I T I V I T Y

T R A I N I N G

• T R A N S A C T I O N A L

A N A L Y S I S

• S T R A I G H T
L E C T U R E S /

L E C T U R E S

• S I M U L A T I O N

E X E R C I S E S
29
2.7 Training & Evaluation
The process of examining a training program is called training evaluation.
Training evaluation checks whether training has had the desired effect.
Training evaluation ensures that whether candidates are able to implement their
learning in their respective workplaces, or to the regular work routines.
Purposes of Training Evaluation
The five main purposes of training evaluation are:
Feedback: It helps in giving feedback to the candidates by defining the
objectives and linking it to learning outcomes.
Research: It helps in ascertaining the relationship between acquired
knowledge, transfer of knowledge at the work place, and training.
30
Control: It helps in controlling the training program because if the training is
not effective, then it can be dealt with accordingly.
Power games: At times, the top management (higher authoritative employee)
uses the evaluative data to manipulate it for their own benefits.
Intervention: It helps in determining that whether the actual outcomes are
aligned with the expected outcomes.
Process of Training Evaluation
Before Training: The learner's skills and knowledge are assessed before the
training program. During the start of training, candidates generally perceive it
as a waste of resources because at most of the times candidates are unaware of

the objectives and learning outcomes of the program. Once aware, they are

asked to give their opinions on the methods used and whether those methods

confirm to the candidates preferences and learning style

Chapter 3
31
Data Analysis and Findings
32
3.1 Data Collection
• P r i m a r y d a t a
• S e c o n d a r y d a t a
Primary data

It was collected through questionnaire prepared contains relevant questions that are both close ended

and opened. Individual and group interviews also under taken with difference consumers,
I have collected mainly the Primary Data for my study by utilizing the
questionnaire and interview methods.
Secondary data
These data are collected from published sources such as Magazines, NEWS
papers, several books, and also from the help of web site www.inglife.co.in
(A)
Sampling plan of the study:
Sample size:

Sample size refers to number of elements to be included in the study several qualitative factors should

also be taken into consideration when determining the sample size. These include the nature of research,

number of variable, and nature of analysis, sample size used in similar studies incidence rates,

completion rates, and resources constraints.

During the process of the study, survey has been conducted on10 0 retailers.
Sampling method:
 The researcher had choice between probability and non probability sampling methods. In this

study a simple non probability method namely convenience sampling was adopted.
For my study I have selected Non-probability method in which I
selected convincing sampling method.

33
(B) FIELD WORK:
Survey was done in ING.

The data was collected over a period of six weeks, using well structured questionnaire. The respondents

were contacted at their respective retail outlets in various parts of the city.
Plan of the data analysis:
Planning and analysis of data can be done through three steps. They are editing
coding tabulation. These three are very important in analyzing the data.
Editing:

Editing is the process of examining errors when there is some inconsistency in the responses as entered

in the questionnaire or where it contains partial or vague answers.

Coding:

Coding is necessary to carryout the subsequent operations of tabulating and analyzing data. If coding is

not done, it will not be possible to reduce a large number of heterogeneous responses into meaningful

categories with the result that the analysis of data would be weak and ineffective and without proper

focus.
Tabulation:

Tabulation comprises sorting of the data into different categories and counting the number of cases that

belong to category the simplest way to tabulate is to count the number of responses to one question. This

is called univeriate tabulation. Where two or more variables are involved in tabulation, it is called bivariate

or multivariate tabulation. In marketing research projects and generally both types of tabulation are used.
34
3.2
Date Analysis and interpretation:
Table 1: Age group respondents
Age Group
No. of respondent
Percentage
Below 25
31
31%
25 to 35
39
39%
35 to 45
25
25%
45 and above
5
5%
Total
100
100%
Sources: primary data collected through questionnaire
Fig-1
Inference:

The above graph shows 39% of respondents having training and development program belong to 25 to

35 age respondents group, 31% of respondents availing belong to below 25 age group and 25% are

between 35 to 45age group.

35
Table 2: Which department are you working
Working sector
No. of respondent
Percentage
Sales
32
32%
Finance
16
16%
Marketing
6
6%
IT
15
15%
Other
31
31%
Total
100
100%
Sources: primary data collected through questionnaire
Fig-2
05
10
15
20
25
30
35
Sales FinacnceMarketing
IT
Other
no. of
respondents
Inference:
The above figure reveals that most of the people 32% are working in Sales and
29% are Other sector
36
Table3: Are you aware of the all types of training program
Awareness
No. of respondent
Percentage
Yes
33
33%
No
14
14%
Have some knowledge
53
53%
Total
100
100%
Sources: primary data collected through questionnaire
Fig-3
Inference:
This graph shows that only 33% of people are aware of the aware of training and development program

and 53% of people have some knowledge about it. But 14% of people are not aware of the training and

development option available to the ING

37
Table4: Do have participate any training program
Response
No .of respondents
percentage
Yes
53
53%
No
47
47%
Total
100
100%
Sources: primary data collected through questionnaire
Fig-4
44
46
48
50
52
54
Yes
No
no. of
respondents
Chapter 4
38
Conclusion and Suggestions
39
4.1 Findings & Limitations Of Training & Development

1. Lack of access new international literature and professional practices

2. Lack of systematic management leading to duplication

3. Lack of quality of technical equipments and accessible resources

4. Lack of promotion of self-development

5. Lack of a link between theories and practices

6. lack of necessary knowledge and skills about new learning strategies at all
levels;
7. lack of suitable alternative model for in-service training
8. lack of a plan for national implementation and indication of support and
commitment by the Government.
40
4.2 Suggestions Of Training & Development
1. Necessary knowledge and skills about new learning strategies at all levels;
2. Accreditation of the current teacher training and staff development programs
offered by various providers;
3. A critical mass of local experts to spread the new knowledge and skills

throughout the teachers in the country;

4. Suitable alternative model for in-service training;

5. A plan for national implementation;

6. Indication of support and commitment by the government

41
4.4 CONCLUSION
The employers should keep in mind these four rules of thumb when designing
the company’s strategy and solution:
Rule #1: Internet technology is the key to a profound revolution in
learning.

The effects of Internet technology on employee training are indeed profound; however, technology - any

technology - should be seen as a tool, not a strategy or final goal. Just because they have good word

processing software doesn't mean you write well. Likewise, the Internet cannot, in and of itself, improve

the quality of the learning and the content they put on it. The employers need to use Internet technology

combined with high quality, effective learning to maximize learning and retention levels.
Rule #2: There is an enduring and important role for traditional
classroom instruction.

People who believe technology will totally replace great teachers in front of classrooms of highly

motivated learners are as misguided as those who believe the Internet is a passing fad. The blended
learning solution, i.e., a mixture of classroom and Web-based training is the most effective and

comprehensive learning strategy.

42
Rule #3: Learning is a continuous, cultural process - not simply a series of
workshops.

Employees retain about 50% to 60% of what they learn in a formal training workshop. Often, employees

forget what they have learned within two months of the workshop. Therefore, access and opportunities to

learn should be available to anyone, anywhere, and at any time within an organization. Organizational

learning is as much about what happens outside formal learning programs as it is about the programs

themselves.
Rule #4: Strategy development and implementation are never really
finished.

Employers change as their business changes. They adjust it as their people become more skilled and

knowledgeable. The employers redefine it as new technology options become available. And, they

constantly test it against the mission and vision of their business, making sure they are always in

alignment.

Due to training there is greater stability, flexibility and capacity for growth in an organization. Accidents,

scrap and damage to machinery and equipment can be avoided or minimized through training. Even

dissatisfaction, complaints, absenteeism, and turnover can be reduced if employees are trained well.

Future needs of employees will be met through training and development programmes. Organizational

take fresh diploma holders or graduates as apprentices or management trainees. They are absorbed after
course completion. Training serves as an effective source of recruitment. Training is an investment in HR

with a promise of better returns in future. Though no single training programme yields all the benefits the

organization which devotes itself to training and development enhances its HR capabilities and

strengthens its competitive edge. At the same time, the employee’s personal goals are furthered,

generally adding to his or her abilities and value to the employer. Ultimately, the objectives of the HR

department and also of the organization are also furthered.

43

Bibliography
44
BIBLIOGRAPHY
REFERENCES:
List of websites:
•
www.irda.com
•
www.inglife.co.in
List of Books & Magazines:
•
Marketing Management- ICFAI publication
•
Marketing Management- Philip kotler
•
Outlook- the Layman’s Guide to Insurance
•
Business line
•
IRDA Journal
List of News Papers:
•
Business Line
•
Economics Times
45

Questionnaire
46
QUESTIONNARE:
I am currently doing my project in ING Company. As a part of my study I am collecting information of the

existing customers to know the consumers perception on value added services provided by ING Vysya

Life Insurance I kindly request you to fill the following questionnaires.

Please [] the answer
(1)
What is your name?
(2)
Which age group do you belong to?
[ ] less than 25years, [ ] 25 to 35 tears, [ ] 35 to 45 years [ ] above 45years
(3)
Which department are you working?
[ ] Sales [ ] Finance [ ] Marketing [ ] IT [ ] others
(4)
Are you aware of the all types of training program
[ ] Yes
[ ] No
[ ] Have some knowledge
(5)
Do have participate any training program ?
[ ] Yes
[ ] No
(6)
Are you satisfied of training and development program ?
[ ] Yes
[ ] No
(7)
Tanning and development policy provide any benefit?
[ ] Yes
[ ] No
(8)
Which type of training you take ?
[ ] Short term [ ] Medium term [ ] Long term
 (9)
Training and development program increases yours ?
[ ] Working efficiency [ ] Confidence [ ] Non

(10) What is your opinion towards the training and development program by

ING Vysya Life Insurance?

[ ] Average [ ] Aggressive [ ] Excellent [ ] professional

ING Vysya Life Insurance project report on

Training and Devlopment
ING Vysya Life Insurance project report on Training and Devlopment
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