LIC was established in 1956 and is the largest life insurance company in India. It primarily serves rural and socially/economically backward sections of society. LIC offers various insurance policies and savings features to promote money saving. It is highly development-oriented, conducting extensive training programs both internally and through partnerships with management schools. Training aims to increase employee skills, versatility, and adaptability to improve job performance. LIC employs various training strategies including standard, role-based, and sales training programs using on-the-job, off-the-job, and technology-based methods.
2. About LIC (Life Insurance Corporation)
Established on 1st September, 1956, serving India since 54 years.
Life Insurance Corporation of India (LIC) is a Government of India
enterprise, largest life insurance company in India.
LIC provides life insurance services primarily to the rural masses and the
socially & economically backward sections of the Indian society.
Promotes money saving activities, offers attractive savings features
along with various Insurance policies.
4. • LIC, the most successful organization in India, is highly
employee development-oriented as evident from the
various training and development programs conducted
by it to its different cadres of employees and field
personnel at its internal training institutes. It also entered
into a strategic alliance with various management
schools to provide specialized training to its officers.
Further, the LIC deputes its senior executives to various
international training institutes so as to enable them to
face the challenges of competition. Above all, it spends a
huge amount of money on training and development.
• To increase job performance, it is necessary to raise the
skill levels and increase the versatility and adaptability of
employees.
5. • C B Memoria defined training as a process of learning a
sequence of programmed behavior. It is an application of
knowledge and it gives employees an awareness of the
rules and procedures to guide their behavior.
• The term development can be defined as the nature and
direction of change taking place among personnel
through educational and training processes.
6. TRAINING STRATEGIES IN LIC:
1. Standard programme on repetitive basis.
2. Role orientation courses in functional areas.
3. Special courses and seminars.
4. Sales training for supervisory and field personnel.
7. Methods of Training and Development
1) On the job training
2) Off the Job Training
3) Programmed instructions
1) On the job training:
• Apprenticeship program
• Job Instruction training
• Job rotation
8. 2. Off the Job Training
• Class room lectures.
• Seminars / conferences
• Simulation Exercise
-Case study
-Experiential exercises
-Computer modeling
10. CONCLUSION
Training plays a very important role in the success of any
organization because directly or indirectly it affects the
performance of the employees.
In the insurance, employee’s behavior plays a vital role
in improving the productivity of an organization. By
incorporating personality development programmes such
as role play, group discussion and business games the
superior and subordinate relationship can be
strengthened.
