Best Workplaces Conference- January 2012

1. Developing People Manager
January 31, 2012
This is the sole and exclusive property of HDFC Life

2. Impact of Macro Economics on Insurance Industry
Markets have turned choppy and customer confidence is rock
bottom
Volatile Equity Market US Debt downgrade
Inflation continues to Interest rate continue
remain high to rise
Fixed Deposits gone-up Currency Depreciation

3. Regulatory changes continue to push the industry into a state of flux,
disrupting growth
Direct Tax
Code
Charges
Agent (Allocation &
Productivity Surrender)
Multi Tied
Bancassurance
5 yrs locking
period
Agent Commission
“It compelled companies to think of „Cost Efficiency‟ overnight”
3

4. It is not a stand alone action but part of the overall organization
strategy
Infrastructure Leadership Change
& Resources'
Management
Continual Communication
4

5. Selling insurance is becoming challenging by the day. This in turn
increases the complexity of building the right talent pool
Managing critical Talent Developing the Existing
Shortage Talent
Identifying the Future Retaining Talent
Leader
Build capabilities and develop leaders
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6. Hence it becomes strategically imperative to create a robust leadership pipeline
PRP Assessment
Centre
Senior Up to Mid
Management Level
Develop
Sourcing and Induction
Mantra 10
6

7. Potential Review Process (PRP)
• AVP and Above
Target Audience • Approx 120 candidates experienced the
PRP in FY 10-11
• CMS rating of 3 and above
Eligibility Criteria • 6 months in the organisation
Frequency • Annual
Panel • Executive Committee
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8. Potential Review Process (PRP)
5
Based on the talent category, a
development plan is designed to Feedback
further enhance the competencies IDP
1. Step Up
4
2. Broaden Laterally
3. Stay in the Job
Talent Bucketing
4. Review Fit
5. Too Soon to be Rated
Review Panel: The 3
executive committee Panel Review
Case Presentation:
The respective HOD
2
Immediate Superiors feedback on the candidate
1
Self Application
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9. Assessment Centre (AC) Process
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10. Building capabilities and developing leaders
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11. Forum and Field Approach
2 days 12 days 30 days 2 days 12 days 30 days 2 days
RM
forum 1
▪ For all RMs CH
(30) forum 1
RM + CH field 1
▪ ZMs to
▪ For all CHs ( RM1 RM2 RM3
participate + …
~200 + 0+
▪ Change participants) CHs CHs CHs
Leader to
lead the
▪ 2 day forum For first set of RM
to be modules - forum 2 Feedback,
forum with CH RM + CH field 2 reflections
conducted ▪ One day live
external
for each interaction for each
▪ For all RMs forum 2
RM1 RM2 RM3
and closure
facilitators (30)
zone …
▪
RM and CHs + + 0+
▪ 3-4
▪ Change mapped to him/her ▪ ZMs to
For the CHs CHs CHs
second set
modules to driven by Change participate For second set of
Leader to of modules Forum 3
be covered Leader and external modules –
deliver the
facilitators
▪ Change ▪ Change
forum with Leader to Leader to ▪ One day live
L&D, ZMs ▪ On-going phone lead the deliver with interaction for each
and RMs conversations with forum with RM and CHs
RMs, ZMs
▪ HDFCL each RM external and L&D mapped to him/her
trainers to facilitators driven by Change
Leader and external
get trained ▪ Covering
for field facilitators
next set of 3-
4 modules ▪ On-going phone
conversations with
each RM
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12. Communication
CEO
Communicat
ion
Morning Sparsh
Huddles
Communic
ation
E- Sparsh CEO Blog/
Newsletter
Coffee with
Leadership
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13. THANK YOU
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This is the sole and exclusive property of HDFC Life