INTRODUCTION<br />The Life Insurance Corporation of India (LIC) (Hindi भारतीय जीवन बीमा निगम) is the largest state-owned Life Insurance company in India and also the country's largest investor. It is fully owned by the Government of india<br />
mission and vision<br /><ul><li>MISSION: </li></ul>“Explore and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development." <br />
<ul><li>Vision</li></ul>"A trans-nationally competitive financial conglomerate of significance to societies and Pride of India." <br />
OBJECTIVE<br /><ul><li>Maximize mobilization of people's savings by making insurance-linked savings adequately attractive.
Conduct business with ulmost economy and with the full realization that the moneys belong to the policyholders. </li></li></ul><li><ul><li>Act as trustees of the insured public in their individual and collective capacities.
The various life insurance needs of the community that would arise in the changing social and economic environment. </li></li></ul><li>HISTORY AND IMPLEMENTATION<br /><ul><li>The Oriental Life Insurance Company, the first corporate entity in India offering life insurance coverage,was</li></ul> established in culcutta 1818 by Bipin Bernard Dasgupta and otHers.<br />
<ul><li>The Life Insurance Act and the Provident Fund Act were passed in 1912, providing the first regulatory mechanisms in the Life Insurance industry.
The Indian Insurance Companies Act of 1928 authorized the government to obtain statistical information from companies operating in both life and non-life insurance areas.</li></li></ul><li>
JOB ANALYSIS<br /><ul><li>Job analysis is a study of a job in order to find out when an employee does and what are the skills that are require to do his job.
Job Analysis Involve study of the nature of job and qualities and qualifications require for performing the job. </li></li></ul><li>Components of Job Analysis <br />
Job Description<br /> A job description is a board statement of the purpose, scope, duties, and responsibility of a particular job.<br />
JOB SPECIFICATION<br /> A job specification is a statement of the minimum acceptable human qualities necessary to perform a job properly<br />
JOB EVALUATION<br /><ul><li>Job evaluation is the process of systematically determining a relative internal value of a job in an organization.
In all cases the idea is to evaluate the job, not the person doing it. </li></li></ul><li>JOB EVALUATION METHOD<br /><ul><li>Ranking method:
Financial Strengths </li></li></ul><li>BENEFITS OF LIC JEEVAN AROGYA FOR EMPLOYEES <br />Today life INSURANCE company LIC launched the health insurance plan ‘JeevanArogya’ which offers many benefits for your entire family.<br />LIC of India will be the first company to have such a comprehensive hospitalization benefits. <br />All working employees and retirees can equally benefit from the LIC ‘JeevanArogya ‘plan.<br />
PRACTICAL ILLUSTRATION<br /> <br /> In 1956, the life insurance business of all companies was nationalized and a single monolithic organization,<br /> the Life Insurance Corporation of India (LIC), was set up. <br /> Today, life insurance is almost entirely IN the hands of the LIC.<br />
Steps in developing HRM strategy<br /><ul><li>Step 1: Get the 'big picture‘
Step 2: Develop a Mission Statement or Statement of Intent
Step 3: Conduct a SWOT analysis of the organizationStep 4: Conduct a detailed human resources analysis