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NEW JUBILEE INSURANCE COMPANY LTD
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TRAINING AND DEVELOPMENT POLICY / PROCEDURE
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PROJECT
REPORT
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COURSE:
TRAINING AND
DEVELOPMENT
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TABLE OF CONTENTS
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S.No
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CONTENTS
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PAGE
No.
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1
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Acknowledgement
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2
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2
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Introduction
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3
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3
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Business
Units and Products
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4
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4
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Mission,
Vision and Values
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5
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5
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Organization
Structure
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7
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6
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Structure
of HR Department
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9
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7
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Training
Philosophy
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9
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8
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Goals of
Training Department
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10
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9
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Training offers, its types and Training Budget
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10
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10
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Line Managers general attitude towards Training and Coordination
between HR / Training Department with business functions
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11
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11
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Training & Development Policy
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11
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12
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Training & Development Procedure
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12
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13
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Post Training Feedback
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13
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14
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Strength & Weaknesses of Training & Development
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13
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15
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Recommendations
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14
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16
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Conclusion
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15
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17
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Annexure
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16
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ACKNOWLEDGEMENTS
INTRODUCTION
Head Office / Registered Office
2nd Floor, Jubilee
Insurance House,
I.I. Chundrigar Road, Karachi.
UAN: ( 92-21) 111-654-111
Tel: (92-21) 32416022-26
Fax: ( 92-21) 32416728 / 32438738
E-mai:l nji@nji.com.pk / Website:
www.nji.com.pk
Established
in 1953, NJI is one of the brightest
and most reputable names in the insurance sector. Sustained
growth over half a century has secured NJI a place among the “Big Three”
Pakistani insurance in terms of gross direct premium and financial base. NJI is
listed on the Karachi & Lahore Stock Exchanges. Major shareholders include
Aga Khan Fund for Economics Development and Hashoo Group. NJI, with its Head
Office in Karachi, has an extensive and dynamic branch network in all major
cities and towns of Pakistan that guarantees prompt service at the customer’s
doorstep.
NJI’s business
philosophy can be summed up as Customer Protection, Customer Satisfaction and
Customer Trust. This is acquired largely by ability to handle claims
effectively. The customer focus and pro-active management approach in all areas
of business, allow NJI to underwrite and handle claims in an expeditious and
efficient manner.
The true test of
soundness of insurance converge is the duration of client relationships. This
is proven by the fact that many clients have been with us for over 40 years.
Clients are satisfied knowing that NJI is their best security.
BUSINESS UNITS AND PRODUCTS
BUSINESS UNITS
·
Operations
·
Risk Management
·
Reinsurance
·
Claims
·
Finance & IT
·
Budget &
Planning
·
Human Resource
·
Administration
PRODUCTS
·
Property
Insurance
·
Marine Insurance
·
Motor Insurance
·
Engineering
Insurance
·
Bond
·
Group Health
Insurance
·
Family Sehat Care
·
Miscellaneous
Insurance
·
Personal Line Insurance
·
Specialized
Insurance
MISSION, VISION AND VALUES
VISION
“To
be acknowledged as the strongest and best insurance company of Pakistan and to
enjoy the highest level of trust and confidence”
MISSION
·
To provide our policyholders the highest degree
of financial security, prompt and fair settlement of their insured losses,
professional and friendly service of all times.
·
To provide our employees a fair reward for
their services, good working conditions, stable employment; and the opportunity
for training, self-development, long term professional growth and prosperity
with the company.
·
To earn a steady and
satisfactory return for the shareholders on the company's capital and to strive
for the growth and prosperity of the company.
·
To be a good corporate citizen
and contribute to the uplift and welfare of the community we live in.
STRATEGIC OBJECTIVE
NJI is a growth-oriented leading insurance
company of Pakistan. Our strategic objective is to increase our market share
without compromising on level of service to our customers and profitability. We
aim to achieve our objective by diversifying our portfolios, relying on niche
areas by developing new products, sustaining profitable growth through employee
training and continuously improving service to our customers.
CORE VALUES
Customer
Satisfaction; we believe that
we can achieve our strategic objective only by providing the best of service to
our customers. This means providing product according to the requirement of our
customers, assisting them in maintaining and improving their risks and finally
settling their claims (if any) promptly and judiciously.
Employee
Growth and Development; we believe
in the sustainable growth of the Company through employee training, development
and personal growth.
Innovation; we are committed to change the way of business
through introduction of new products related to needs of our society and
innovate e-based distribution channels.
Profitability; we believe in maximizing the returns to our
shareholders by application of best practices.
BRANCH NETWORK
SOUTH ZONE MULTAN ZONE LAHORE ZONE
·
Head Office,
Karachi · Multan
· Lahore
Sales Unit-I
·
Commercial Unit-I · Bahawalpur
· Lahore
Sales Unit-II
·
New Unit · Bahawalnagar · Lahore Sales Unit-III
·
Business &
Finance Centre · Rahimyar
Khan · Mall
Mansion Branch
·
Jodia Bazar · Lahore
Sales Unit-V
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Shahrah-e-Faisal ISLAMABAD · Commercial
Unit-II
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Plaza · Islamabad · EngineeringInsurance
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Saddar · Margalla · Bank
Square
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Tariq Road · Faisalabad
·
Clifton
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Karachi
Export Processing Zone PESHAWAR
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Hyderabad · Peshawar
·
Sukkur
STRUCTURE OF HUMAN RESOURCE DEPARTMENT
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HR Head – Senior Vice President
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Deputy HR Head
Joint Senior Vice President
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Manager – HR
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Deputy Manager – HR
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TRAINING PHILOSOPHY
Company promotes a climate within the organization and
enthusiastically encourages the training and development of workforce, to
obtain and develop the required set of skills, which is essential towards the
accomplishment of the Company’s future growth.
Our growth over the years clearly speaks for the quality of
its Human Resource. Our training and development activities ensure that
employees at all levels are nurtured with required skills and knowledge, to
enable to perform their jobs more productively.
GOALS OF TRAINING DEPARTMENT / SECTION
Training and Development Section strives to prepare employees
to achieve their full potential, increase their productivity, and expand their
professional and personal horizons. Deliver cost effective, timely and accessible
development programs that contribute to the Company’s business strategy.
It focuses on skills and knowledge directly linked to a
particular position in order to carry out the job better, and also refers to
learning or the acquisition of skills that may or may not be related
specifically to the current responsibilities.
Employee development programmes and activities are based on
identified training and development needs, and must be associated with the
Company desires that guide to promote business growth.
TRAINING OFFERS, ITS TYPES & TRAINING BUDGET
The Company has its in-house training facility (with video
conferencing facility for up-country branches).
Training Section introduces in-House Insurance Certificate Course with
three levels and runs this programme through NJI’s own Executives.
Employees are also sent for external training both locally
and overseas. In addition, NJI also facilitates its employees by providing
financial assistance, to achieve Post Graduate Diploma in Insurance, organized
by Karachi Insurance Institute, recognized from University of Karachi and
achieve the internationally recognized insurance professional qualification,
known as ACII (Associates of the Chartered Insurance Institutive, UK).
The training budget based on training needs which are
identified and last year training investment. NJI has kept a provisional amount
is for this purpose. Last year, NJI’s investment in training was around Rs 1.5
million which is almost double to its previous year, which demonstrates the
importance NJI places on training and development of its officers.
LINE MANAGERS GENERAL ATTITUDE TOWARDS TRAINING AND COORDINATION BETWEEN HR / TRAINING DEPARTMENT WITH BUSINESS FUNCTIONS
Line Managers attitude is positive towards training and they
release their employee for training except during quarterly, half yearly /
yearly closing. HR Department / Training Section coordinate with Line Managers
in this regard and fix the training with mutual agreement.
TRAINING & DEVELOPMENT POLICY
HR Department prepares the in house training calendar
specifying the training courses and conducting and organizing the same, and
also liaise with the external trainers. Prior financial approval is needed of
the nominees for external training seminar / workshops. HR Department ensures
that all training events are routed through HR Department.
It is crucial that both parameters of “potential and
performance” must be kept in mind while recommending the employees for outside
training seminar / workshops.
These recommendations / nominations for training are done at
the time of annual appraisal meetings, and with consultation of Line Managers
which focus the career development and ongoing professional development needs
of the employee, and on the other side, seek to improve the quality of
professional working and productivity to meet the organizational objectives.
HR Department encourages employees to enhance their educational and professional skills relevant to the insurance business or their specialized areas and shall be recognized by promotions and salary enhancements that attain certain professional qualifications.
Company shall also provide financial assistance to employees,
in acquiring professional skills relevant to insurance business.
For development, an employee can seek advice from HR
Department. The superior and the subordinate can jointly chalk out the development
programme.
“The individual takes
the ultimate responsibility for the career development at the end of the day”.
TRAINING & DEVELOPMENT PROCEDURE
·
Training
needs of Departmental employees will be identified through training needs
analysis (TNA) by the concerned Line Manager in performance appraisal meetings.
·
HR
Department will extract the training needs by department of each employee on a
specific format, and will get back to the Line Manager to discuss the training
needs on more specific basis for finalizing the annual training calendar.
·
The
training programs shall be designed specifically to meet the current and future
requirements of the company as well as the individuals.
·
HR
Department organizes the in-house training programmes as per the training
needs. For trainings that cannot be developed in-house due to any reasons,
shall be out-sourced.
·
It
is the responsibility of HR department to use all necessary tools available to
develop, implement and evaluate training programs both in-house and out-sourced.
·
Training
costs and all other records pertaining to the training shall be maintained by
the HR department and monitor the costs and allocated training budgets for each
department as well as company.
POST TRAINING FEEDBACK
·
HR
Department will get the feedback from employee through a post training
evaluation form, to spotlight on areas for improvement and to monitor its
effectiveness and prepares the consolidated summary of post training
evaluation.
·
Post
training evaluation forms together with the consolidated summary are kept in
record.
·
Individuals
being provided with the training shall submit a report at the end of training
program to the HR department covering the following:
o
What
the training program was all about?
o
What
has the employee perceived from the training program?
o
How
he/she has benefited from the said program?
o
What
positive impact the training program will have on his/her work related
behavior?
STRENGTH & WEAKNESSES OF TRAINING & DEVELOPMENT
STRENGHTS
·
NJI
gives importance to training and development as the increment of budget towards
training and development shows.
·
The
trainees are given financial assistance to move forward in their careers and
take part in training.
·
Valuable
certificates are offered.
·
Trainings
are outsources if in house is not sufficient.
·
Post
evaluation feedback is conducted.
WEAKNESSES
·
Variance
between Training Budget and Actual Training Investment
·
Training
numbers on technical skills is higher as compared to soft skills training.
·
Other
methods or modes of training are not incorporated such as coaching, outdoor
activity training for soft skills purposes etc.
·
The
appraisal system is on annual basis.
·
A
proper enhanced training is not done at an expert level.
RECOMMENDATIONS
·
Need
to separate fulltime Training Department / Section.
·
Need
more focus on soft skills training.
·
Need
to start coaching along with training and guide concerned individual for his /
her own development and career.
·
Need
to incorporate other sources of training methods and evaluation techniques to
be more accurate in observing results.
·
There
should be a proper plan implemented at all levels, which employee would require
which sort of training aligned with his/her career goals and what type of
increment or bonuses should be offered based on performance.
·
The
department should be able to foresee the hurdles in way of inculcating the
value induced behavior in employees and what is the best way to bring about
radical changes within the organization so that progress due to training can be
noted.
·
Appraisals
should be more frequent.
·
E-learning
should be introduced as part of training methodology for employees.
·
A
recommendation process should be in order where employees can vote for the type
of training they need.
·
A
proper step by step process should be in order where from the starting point
when the employee is selected to enter the training program till his evaluation
of training skills application, record is maintained and updated continuously.
CONCLUSION
Overall training and development functioning in NJI is
satisfactory but it needs improvements on several aspects. The department
though establishes the basics of training and has tried to apply all the
necessary attractions for an employee so that he is motivated to train himself,
still it does not aim towards personality enhancement, only towards
professional skill development. The company though keeps in mind the strategic goals
and gives employee the connection of his work importance to that of these goals;
still it will be much better for the employees to be able to learn a variety of
things that will enhance their personal and social skills as well for every
walk of life.
Training and development is an important part of a company’s
plan to progress further because it builds capital on the progress of human
assets in the organization. Thus, it is very necessary to implement this
process well which is a difficult task keeping in mind the variety that this
field has and the expert knowledge which is needed to be accurate and productive
in it. NJI is a growing firm and will develop a better module of training and
development as need arises and more experience comes in.
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