Managing Attrition In Insurance Sector

Hiring from each other is a common practice amongst insurance companies. Employees, especially in middle and junior levels of the sales function, tend to move amongst insurance companies. Availability of quality talent is still scarce. Given the huge demand for talent, and since not all of this requirement can be met by fresher, companies tend to poach from competitors.
The private Insurance Companies aim to syndicate norms for employee movements for the industry, the way BPO sector has done.
The sales staff usually just walks out of the company without following the basic decorum.
They want to create a basic norm which will ensure that when an employee quits, he follows all the formalities and then only he can join the next company. This way they may be able to effectively manage attrition and regulate indiscriminate employee movement. The forum will also seek ways to eliminate fake CVs.

Hello Navinder:
>The private Insurance Companies aim to syndicate norms for employee movements for the industry, the way BPO sector has done.<
If they would syndicate good management practice, employee movements would be reduced.
>The sales staff usually just walks out of the company without following the basic decorum.<
Perhaps some sales staffs are mismanaged.
>They want to create a basic norm which will ensure that when an employee quits, he follows all the formalities and then only he can join the next company.<
I think that is putting the cart before the horse. Fix managers' behaviors and the employees' behaviors will follow.
>This way they may be able to effectively manage attrition and regulate indiscriminate employee movement.<
Employees move for reasons that are related to how they are managed.
>The forum will also seek ways to eliminate fake CVs.<
Isn't background checking a common practice?
Bob Gately
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Whatever You have added makes sense. By creating functional barriers, Senior Managers create these practical problems that arise. Especially in Sectors that are still growing, employees tend to be more insecure about their growth and stabilty. The managers get too tied up in their processes and targets, that they neglect the basic Management and Leadership functions.
By he way this contibution was from the Economic times and mainly comprised the views of CEP Bharti AXA Life.... so we have to swallow the bitter fact that this is actually happening in the Insurance Sector in India.
Thanx for your contribution!

Hi Navinder
This is just not only in Insurance Sector. Check up with FMCG they have been seeing this for the past 50 years in India. They jump form one company to the other and come back to the same company.
If we are chosing to be an open economy enjoying the advantages going with that, then these small issues need to be managed.
Syndicate for what???
If employers syndicate and frame guidelines for employing people...then what is wrong in employees joining hands to form union???
All these syndicates will frame guidelines for junior and mid level employees. Will they frame smae rules for senior people
Siva

One important topic not getting attention......in this forum.
Is it not a critical topic to have discussion? Employers syndicate is an important subject, in my opinion, for people especuially HR Professionals to debate.
Unfortunately this is not getting enough attention
Siva

This is true. To keep a standard and avoid fake and forgery, Employers syndicate is good idea.

Good Afternoon Everyone....................................
Can any one suggest me HR topics that can be done in INSURANCE SECTOR clearly.