AN EMPIRICAL STUDY OF EMPLOYEE COMMITMENT IN INSURANCE INDUSTRY OF INDIA

Parvez Ahmad Shah

doi:10.29121/shodhkosh.v2.i2.2021.3633

Authors

Dr. Parvez Ahmad Shah Sr. Assistant Professor; Department of Commerce, University of Kashmir, Hazratbal Srinagar-190006

DOI:

https://doi.org/10.29121/shodhkosh.v2.i2.2021.3633

Keywords:

Employee Commitment, Service, Industry, Insurance Organizations

Abstract [English]

Insurance industry poised to grow many folds in the coming years. Over few years, poaching of efficient manpower and lack of succession planning has cost Insurance companies dearly. Insurance industry worldwide has been marred with issue of high turnover and employees’ retention has been the persistent issue HR managers have been facing. Therefore, it is imperative to understand the factors which lead to turnover and counter measures adopted by organizations which contribute towards employees’ retention in Insurance Industry in India. This study has been undertaken to investigate the employee commitment variances across demographic variables within insurance industry of India. Three-Component Commitment Model propounded by Allen and Meyers’ in (1997) has been used to measure the employee commitment over a sample of 663 on roll employees (i.e. working on permanent basis). Sample organizations include both public and private, life as well as non-life insurance organizations and were calculated by using Cochran’s sample size calculation technique. The data was analyzed through statistical techniques like Levene’s test for homogeneity of variances, T-test, ANOVA and Post Hoc test by using SPSS version 16. The results revealed that, the employee’s commitment vary significantly across the insurance industry of India in terms States, Nature, Designation and Work experience. This signifies lack of commitment among the employees working with this industry and remedial measures need to be taken to enhance the commitment level of employees.

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