This is the sole and exclusive property of HDFC Life

January 31, 2012

Developing People Manager

Inflation continues to remain high

US Debt downgrade

Volatile Equity Market

Interest rate continue to rise

Currency Depreciation Fixed Deposits gone-up

Markets have turned choppy and customer confidence is rock bottom

Impact of Macro Economics on Insurance Industry

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Agent Productivity

Direct Tax Code

Charges (Allocation & Surrender)

5 yrs locking period

Agent Commission

Multi Tied Bancassurance

“It compelled companies to think of „Cost Efficiency‟ overnight”

Regulatory changes continue to push the industry into a state of flux, disrupting growth

It is not a stand alone action but part of the overall organization strategy

4

Continual Communication

Infrastructure & Resources'

Leadership Change

Management

5

Managing critical Talent

Shortage

Identifying the Future Leader

Developing the Existing Talent

Retaining Talent

Build capabilities and develop leaders

Selling insurance is becoming challenging by the day. This in turn increases the complexity of building the right talent pool

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Hence it becomes strategically imperative to create a robust leadership pipeline

Mantra 10

Sourcing and Induction

Develop

Senior

Management

Up to Mid

Level

PRP Assessment

Centre

Potential Review Process (PRP)

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• AVP and Above

• Approx 120 candidates experienced the PRP in FY 10-11

Target Audience

• CMS rating of 3 and above

• 6 months in the organisation Eligibility Criteria

• Annual Frequency

• Executive Committee Panel

8

Potential Review Process (PRP)

Self Application

1

Immediate Superiors feedback on the candidate

2

3

Panel Review

Talent Bucketing

4

Feedback

IDP

5

1. Step Up

2. Broaden Laterally

3. Stay in the Job

4. Review Fit

5. Too Soon to be Rated

Review Panel: The

executive committee

Case Presentation:

The respective HOD

Based on the talent category, a

development plan is designed to

further enhance the competencies

9

Assessment Centre (AC) Process

Building capabilities and developing leaders

10

11

Forum and Field Approach

Feedback,

reflections

and closure

RM

forum 1

2 days 12 days

RM2

+

CHs

…

RM3

0 +

CHs

RM1

+

CHs

Forum 3

2 days 30 days 30 days

▪ For all RMs

(30)

▪ ZMs to

participate

▪ Change

Leader to

lead the

forum with

external

facilitators

▪ 3-4

modules to

be covered

CH

forum 1

RM

forum 2

2 days 12 days

▪ For all RMs

(30)

▪ ZMs to

participate

▪ Change

Leader to

lead the

forum with

external

facilitators

▪ Covering

next set of 3-

4 modules

CH

forum 2

▪ For all CHs (

~200

participants)

▪ 2 day forum

to be

conducted

for each

zone

▪ Change

Leader to

deliver the

forum with

L&D, ZMs

and RMs

▪ HDFCL

trainers to

get trained

for field

▪ For the

second set

of modules

▪ Change

Leader to

deliver with

RMs, ZMs

and L&D

RM + CH field 1

RM2

+

CHs

…

RM3

0 +

CHs

RM1

+

CHs

RM + CH field 2

For second set of

modules –

▪ One day live

interaction for each

RM and CHs

mapped to him/her

driven by Change

Leader and external

facilitators

▪ On-going phone

conversations with

each RM

For first set of

modules -

▪ One day live

interaction for each

RM and CHs

mapped to him/her

driven by Change

Leader and external

facilitators

▪ On-going phone

conversations with

each RM

Communication

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Communication

CEO Communicat

ion

Sparsh

CEO Blog/ Newsletter

Coffee with Leadership

E- Sparsh

Morning Huddles

This is the sole and exclusive property of HDFC Life

THANK YOU

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