Human Resource Development in Life Insurance Corporation of India – A Study

A set of effective human resource management practices can influence company performance and help the company in achieving a sustainable competitive advantage. The Life Insurance Corporation of India (LIC), established in 1956, is among the world’s largest life insurers. With magnificent performance, at enormous scale, LIC dwarfs the other 23 life insurance players in India. LIC is fully owned by the Indian government; and given the popular perception that privately-managed organizations perform better, LIC’s sustained success and dominating growth is intriguing. LIC of India has been imparting Training and Development Programs to their employees from time to time. The present study reveals that, Induction Training conducted by LIC of India for their employees are organized in a very systematic and orderly manner.