A SUMMER TRAINING PROJECT REPORT ON

BIRLA SUN LIFE INSURANCE & OTHER INVESTMENT OPTIONS (SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION (MBA), KURUKSHETRA UNIVERSITY, KURUKSHETRA)

Project Supervisor: Miss Meenu Lecturer MBA

Submitted By: Parwinder Singh Class Roll No.7310793 Univ Roll No.

Session:2010-12

GALAXY GLOBAL GROUP OF COLLEGES

CERTIFICATE

This to certify that Mr. Parwinder Singh has proceeded under by supervision his Summer Training Project Report on Birla Sun Life & other Investment option in the specialization area finance. The work embodied in this report is original and is of the standard expected of an MBA student has not been submitted in part of full to this or any other university for award of any degree or diploma. He has completed all requirements of guidelines for Summer Training Project Report and the work is fit for evaluation.

Signature of Supervisor

Miss Meenu Verma Lecturer MBA

DECLARATION
I, Parwinder Singh Roll no.7310793 student of Galaxy Global Group of Institution here by declare that Summer Training entitled "Birla Sun life Insurance and Other Investment Options" is an original work and has not been copied from anywhere. This report has not been submitted in part or full to this or any other university for the award of degree or diploma.

Signature of the Student

Parwinder Singh MBA Final

ACKNOWLEDGEMENT
"Gratitude is not a thing of expression; it is more a matter of feeling." There is always a sense of gratitude which one should express for others for their help and supervision in achieving the goals. I am deeply indebted to Miss Meenu, (Faculty of MBA) for providing me constant encouragement and moral support to complete this task. She took much time out of his busy schedule to provide me with valuable practical suggestions at various stages of my work. In spite of her heavy academic and administrative commitments she ungrudgingly helped me at every stage in my work. 1 can never adequately thank her for the long and highly useful discussions. I had with her during the course of my research work and for his competently steering me in the course of the research work. I express my gratitude to Mr. Vivek Dhawan Agency Manager of BSLI Ambala Branch under whose guidance and supervision I undertook this study. I too express my deep gratitude to each and every one who has been helpful to me in completing the Project work successfully. Although I have made an honest attempt try to give some suggestions but some loopholes may be there, which I suppose will be ignored.

Parwinder Singh
MBA-III SEM

PREFACE
Insurance market is growing very fast. The opportunity is also high in this sector as only 5% of Indian market is covered by this sector and the players are trying to extend in to the rest untapped 95%. Though LIC in India is the market leader, relatively younger private organization are also doing well in this sector. This is the pick time for all the players to capitalize this growth and increase their market share through good distribution channel network. BSLI is one of the major Life insurance player. who is emerging a market leader among private insurance group. The success story of good market share of different organization depends on the distribution channel network of the organization. The distribution channel network is the interface between the producer or service provider and user. Hence it should be highly effective to create a good brand perception on its user.

CONTENTS
CERTIFICATE DECLARATION ACKNOWLEDGEMENT PREFACE

CHAPTER NAME Chapter-1

Introduction

PAGE NO.

Chapter-2
Industry profile

Chapter-3
Company profile

Chapter-4
Research Methodology Objective of the study Type of data Research Design Limitation of the study

Chapter-5
Analysis & Interpretation

Chapter-6
Conclusion Findings /Recommendations

Chapter-7
Annexure Bibliography

INTRODUCTION
1STATEMENT OF THE PROBLEM The present study makes an attempt to assess and analyze the training and development programme of the employees in Birla Sunlide Insurance Limited. The study identifies the important factors that influence the method of jobs, on the job training, off the job training, employees expectations and employees satisfaction through training programme. The study is based on 100 employees. The study would help the management to understand the result of training and development programme in our organizations. An effective study develops the efficiency of the employees. Efficiency of the training programme can be improved for the betterment of organization. It helps the researcher to study on further analysis in the effectiveness of training programmes.

BIRLA SUN LIFE INSURANCE COMPANY LTD

A joint venture between the Aditya Birla Group and Sun life Financial, Birla sun life insurance forayed into the life insurance and retirement planning business by pioneering the unique unit-linked solutions in India. In just over 2 years of its launch, the company has catapulted to second position in new business premium in the highly competitive private life insurance industry based on its strategy of unit-linked plans.

THE ADITYA BIRLA GROUP: Aditya Birla, a name that evokes all that is positive in business and life. It typifies integrity, quality, performance, innovation, perfection and above all, character. In operation for over 50 years now, the Aditya Birla Group is one of Indias largest business houses. A highly respected and admired group, rooted in performance ethics based on value creation for its multiple stakeholders. The Aditya Birla Groups operations span over 40 units across 18 countries, anchored by a 72,000 strong committed workforce, a group turnover exceeding Rs.27, 000 crore, an asset base which exceeds Rs.20, 000 crore and a market capitalization of over Rs.13, 000 crore spread over 7 lac shareholders. Known for its rack solid fundamentals it nurtures a culture where success does not come in the way of the need to keep learning afresh to continue innovating and to carry on experimenting. Being one of the largest corporate houses in India, and Aditya Birla Group enjoys a dominant position in all the sectors in which it operates. It is the worlds largest producer of viscose staple fibre, largest single location aluminum plant and the largest single location refiner of palm oil. Whats more, it is the second largest producer of insulators and the fifth largest producer of carbon black in the world. In India, the group is the single largest producer of viscose filament yarn, aluminum, white cement and the third largest in grey cement. Not to mention, the recognition of being the market leader in the ready to wear branded apparel segment with brands like Allen solly, Louis Phillip, van heusen and peter England.

The flagship companies of the Aditya Birla Group include some of the largest and most respected companies in India such as grasim industries limited, Hindalco industries limited, Indian Aluminum Company limited, Indian Rayan Industries Limited, Indo Gulf Corporation Limited. The Group has larged power relationship with large corporations like Hindustan Petroleum, Tata, Powergen Plc and AT&T. The group fosters a culture that promotes excellence and rewards entrepreneurship. It endeavors to make the workplace a source of creativity, innovation and self-fulfillment for its employees. Nurturing a corporate culture imbedded with a high level of commitment and a sense of shared destiny. The mission of the Aditya Birla Group is creation of value for its customers, shareholders, employees and the society at large. SUN LIFE FINANCIAL: Sun life financial is a leading international financial services organization. With a history that dates back to 1871, Sun life financial has evolved from a single mutual life insurance to one of the most highly rated insurance and wealth management institution in the world. Sun life financial knows its value lies in more than assets and history. It also lies in the culture of the integrity and the pursuit of excellence that have marked all of the organization endeavors. Today the sun life financial group of comp anise and the partners are represented globally in Canada, the United States, the Philippines, Japan, Indonesia, India and Bermuda. In March of 2000, Sun life financial services of Canada, inc, Sun life financiers parent company, listed its shares on stock markets in Toronto, New York, London, and Philippines. This new access to shareholders equity provides Sun life financial with even greater opportunities to grow around the world. The Sun life financial group of companies around the world, offer innovative and practical financial solutions to individuals and corporations: Life, Health and Disability Pension Funds and Plans Investment Management Annuities and Savings Trust, Brokerage and Banking

Sun life assurance Company of Canada, sun life financiers primary insurance business, has excellent ratings with the worlds top ratings agencies. With assets under management as on September 30, 2000 totaling more than CDN$345 billion, it ranks amongst the largest international financial services organizations in the world. Sun life financial enjoys independent rating that place us at the top of the financial sector in North America. VISION: To be a world-class of financial security to individuals and corporate and to be amongst the top three private sector life insurance companies in India.

MISSION: To be the first preference of our customers by providing innovative need based life insurance and retirement solutions to individual as well as corporate. Well trained professionals through a multi channel distribution network and superior technology will make these solutions available. Our endeavor will be to provide constant value addition to customers throughout their relationship with us, within the regulatory framework. We will provide career development opportunities to our employees and the highest possible returns to our shareholders. OUR VALUES: INTEGRITY TRANSPERENCY CUSTOMER FOCUS EXCELLENCE INNOVATION MERITOCRACY RESPECT FOR THE INDIVIDUAL

OUR FEATURES: Our unit-linked flexi products are based on universal life platform, catering to the customers twin needs of insurance and investment. Our customers have appreciated these products, which have the beneficial features of life insurance, mutual funds and banks. Some of these features are described below:

PROSPECTS FOR GROWTH WITH UNDERLYING GURANTEES: According to their risk appetite, the customers can choose out of three investment options, viz, protector (Representing a low risk portfolio), Builder (Medium risk portfolio) or Enhancer (High risk portfolio) with guaranteed returns fund, at present ranging from 3%-6%. The flexibility of changing the investment option initially availed by them is also available. 1. GUARANTEES PROVIDE SAFETY NET : The policyholders enjoy the upside returns provided by the portfolios in all the investment options. As on 31 st December 2002, the annualized returns since inception under protector, builder and enhancer options were 9.75%, 11.12% and 14.74% respectively, which is above the minimum level guaranteed. 2. CONVENIENCE IN PAYMENT OF PREMIUMS: The customer has the option of paying any amount of premium, any number of times (within a policy year) irrespective of the mode. Traditional products available in the market do not offer such a facility. 3. BUILT-IN GUARD AGAINST UNITENDED LAPSATION: These products provide continuity of risk coverage for a long time even if the premiums remain unpaid. The continuity of risk is ensured with the help of monthly recovery of cost of insurance and automatic premium advance facility. A policy can lapse if and only if the policy fund pertaining to the individual policy becomes negative. 4. RISK COVER DOES NOT DECRESE DURING THE TERM OF THE POLICY : Unlike traditional life insurance policies, where the sum at risk (Sum assured paid up value) actually goes on decreasing, in our flexi policies, death benefit is sacrosanct and and remains uniform throughout the tenure of the policy. In case of death, the face amount as well as the policy fund representing the saving portion in the premium is payable. 5. ACCELERATED PAYMENT OF PREMIUM POSSIBLE : Depending on ones financial situation a shorter premium-paying period can be selected, with the advantage of greater accumulation resulting into higher

death/surrender/withdrawals/ maturity benefits. 6. LIQUIDITY ON TAP: Traditionally, insurance products have been know to be illiquid. Policy loans are at a cost and surrenders defeat the very purpose of insurance. In such an environment, the facility of withdrawals without affecting the risk cover is one of our unique features. 7. NO PENALTY FOR SURRENDER: Unlike in traditional type of life insurance policies where the policy holders have to suffer a financial loss on surrender of their policies, our products do not provide any surrender charge after the first four years. 8. CUSTOMERS CAN SEE THEIR MONEY PERFORM: Our policyholders are provided with an access code to know the policy values online. Besides, the investment performance of the various options is published every quarter and the policyholders receive a yearly statement reflecting the status of the policy fund. 9. OTHER BENEFITS: a. b. c. Lower premium for female customers Age last birthday gives the customers advantage of lower age A policy can be customized to the policyholders requirements. For instance our Flexi life line with the facility of limited premium payments and withdrawals thereafter, becomes a veritable pension plan with attendant tax benefits. d. Detailed illustration at the point of sale

ORGANISATION STRUCTURE: two guides Biral sun life insurance business operations if its core values, namely integrity and transparency. BSLI complies with a all regulations governing the life insurance business. A high degree of transparency is followed in al the business practiced and procedures and all employees are governed by an internal code of conduct. BSLI abides by the corporate governance framework in accordance with the Kumar Managalam Birla committee as applicable to the life insurance business, as well as the provisions of the insurance act, 1938, the companies act, 1956 and the IRDA regulations. The various committees overseeing the business are: BOARD OF DIRECTORS Mr. Donald Stewart- chairman Mr. Kumar Mangalam Birla Mr. Gary M. Come ford Mr. Douglas C. Hence Mr. S.K. Mitra Mr. B.N.Purankmalka Hish Highless Mr. S.N. Talwar Mr. G.P. Gupta Maharaja G.Singh

AUDIT COMMITEE Mr. B.N. Puranmalka Mr. S.K. Mitra Mr. D.C. Henck Mr. G.M. Cmerford

INVESTMENT COMMITEE Mr. S.k. mitra Mr. B.N. Puranmalka Mr. P.J. Akers Mrs.K.Gupta Mr. A. Fenn Mr. N.B. Javeri Mr. S.Shah EXECUTIVE COMMITTEE Mr. G.M. Comeford Mr. D.C. Heck Mr. S.K.Mitra Mr. B.N. Puranmalka Apart from the above committees overseeing the business operation, the CEO and CGO certify the audited accounts of the company and company secretary submits a compliance certificate.

THE BSLI MANAGEMENT TEAM

Mr. Nani Javeri (CEO) Mr. Peter Akers (CFO and appointed actuary)

Mr. E.N.Goveia (Senior vice president direct sales force) Anjana Grewal Jaskirat Kaur

Mr. P.Nandagopal (Senior vice president-alternative Channel and group life) Snehal Shah (control & admin.) K.S.Gopalkirshnan (actuary)

(marketing &comm.) (group life &personal)

Mr. K.H. Venkatachalam (chief manager-human resource) Mr. Mayank Braganaza (chief manager- finance and planning) Mr. Sanjay Parikh (chief manager- product development)

BRIEF PROFILE OF SEVICES OF ORGANISATION:

Pioneered by Birla sun life insurance, Unit- linked solutions bring together the best of life insurance and investment, together. A unique combination of security from life insurance

and returns from investment. Introduced in line with the latest global trends, the unitlinked plans put you in total control of your money. They are simple transparent and flexible. Whats more, they offer 3% minimum guaranteed overall returns on the premium. Birla sun life insurance provides individual as well as group life insurance solutions aimed at the corporate sector. INDIVIDUAL LIFE PLANS: Birla sun life insurance offers number of individual life plans, which can be given belowFLEXI SECURELIFE RETIREMENT PLAN: This is a unit-linked retirement plan to give you efficient returns in the long term so as to build a sufficiently large corpus of savings on retirement. The planes built in tow phases: the accumulation phases and annuity phase. During the accumulation phase the plan gives you a choice of three investment options to invest your money with an option to switch between these funds to match your risk appetite. Whats more it offers a guaranteed minimum return of 3% on your premium (deposit) amount net of all charges and deductions in this phase. In the annuity phase the plan gives 2 options to choose from. FLEXI LIFE LINE PLAN: This plan offers a life insurance cover till the age of 100 years thus providing you with a lifetime of security. It is an investment for your future in which you accumulate large savings through the benefits of compounding. The plan gives you the flexibility of making tax-free withdrawals and can be customized as tax efficient pension during your working years while the plan continues for a lifetime. FLEXI SAVE PLUS ENDOWMENT P LAN: It is a flexible life insurance plan, which offers the dual benefit of a life insurance cover as well as large tax-free savings in the long term. The plan is taken for a specified period and the benefits are payable in the events of death during the tenure of the plan or at maturity. The unit-linked nature of the plan coupled with the benefits of compounding can lead to very efficient returns in the long term. FLEXI CAH FLOW MONEY BACK PLAN: It is a flexible life insurance plan, which offers a life insurance cover and gives lump sum payment at periodic intervals. These periodic payments intervals. These periodic payments help you meet your various

financial obligations at crucial junctures such as education or marriage of your child. The unit-linked plan also offers you the option of not withdrawing the lump sum amounts and continuing it in the plan to take advantage of the benefits of compounding. BIRLA SUN LIFE TERM PLAN: The plan offers large life insurance cover for very low costs for a specified term. It is a low premium, pure risk coverage plan, which takes care of ones financial commitments toward his/her depending should anything unfortunate happen to line policyholder. BIRLA SUN LIFE PREMIUM BACK TERM PLAN: The plan offers you a life insurance cover for a specified term. Unlike other term plans this plan refunds the entire amount of premium that you pay over a period of time. There are two options of maturity benefits to choose from and what is m ore it is a low cost life insurance plan. GROUP PLANS: Birla sun life insurance Company offers number of group plans, which can be, described belowGROUP GRATUITY SOLUTIONS: It works for your future group gratuity addresses the need of prudent financial management for a progressive corporate house. The unique benefit being it provides market-linked returns that present an opportunity for capital appreciation in the long term. Besides when the fund yields better returns, it decreases the contribution to the fund in the years. GROUP SUPERANNUATION PLAN: Retire in comfort- Birla sun life insurance offers group superannuating plan as a retirement solution for employees. The plan has benefits that empower both the employer and employee. The contribution is invested in unit-linked funds yielding market-linked returns to meet your future needs efficiently. Additionally original / principal contribution is guaranteed against market fluctuation. GROUP PROTECTION PLAN: Birla sun life insurance provides group protection plan for a homogenous group. Under this plan, life insurance cover is provided at an affordable cost. Renewed every year, it helps fulfill the insurance needs of employees as well as provide financial security to their families. In the event of death of the member, the beneficiary (family) of the member gets the benefit. The plan has 6 additional riders and two options.

PLANS AT A GLANCE FLEXI SAVE PLUS ELIGIBILITY MINIUM FACE AMOUNT DURATION OF THE PLAN ENDOWMENT PLAN 30days 65 years Rs.50, 000 for minors and Rs75, 000 for adults As per policy term-5, 10,15,20,25,or 30 years or as per maturity age-15, 20,25,30,35 years for minors and 60,65,70,80 years for adults FLEXI CASH FLOW MONEY BACK PLAN 30days 65 years Rs.50, 000 for minors and Rs75, 000 for adults As per policy term-5, 10,15,20,25,or 30 years or as per maturity age-15, 20,25,30,35 years for minors and 60,65,70,80 years for adults FLEXI LIFE LINE PLAN 30days 65 years Rs.50, 000 for minors and Rs75, 000 for adults As per policy term5, 10,15,20,25,or 30 years or as per maturity age-15, 20,25,30,35 years for minors and 60,65,70,80 years PREMIUM PAYING PERIOD Single pay 5,10,15,20 years or over the duration of the plan MATURITY BENEFITS AMOUNT DUE TO NOMINEE IN EVENT OF DEATH OF THE LIFE INSURED FREELOOK PERIOD 15 days from the date on which you receive the policy document TAX BENEFITS** Under sec 88 and sec 10(10D) of the income tax act 1961 RIDERS Accidental death and dismemberment 15 days from the date on which you receive the policy document Under sec 88 and sec 10(10D) of the income tax act 1961 Accidental death and dismemberment Policy fund Face amount+policy fund Single pay 5,10,15,20 years or over the duration of the plan Policy fund Face amount+policy fund for adults Single pay 5,10,15,20 years or over the duration of the plan Policy fund Face amount+policy fund 15 days from the date on which you receive the policy document Under sec 88 and sec 10(10D) of the income tax act 1961 Accidental death and dismember

benefit rider Term rider Critical illness rider Critical illness plus rider Waiver of premium rider

benefit Rider Term rider Critical illness rider Critical illness plus

ment benefit rider Term rider Critical illness rider Critical illness plus Rider Waiver of premium Rider

Rider Waiver of premium rider

UNIQUE FEATURES

Minimum guaranteed returns of 3% p.a. on your premium net of all policy fees of all policy fees and charges. The entire upside in the performance of the fund is passed on to you.

Three investment fund options: protector, builder and enhancer with option to switch between funds any time after the first policy year. Options to make tax-free withdrawals you have additional savings. Vary the face amount of policy depending on your changing needs for life insurance during your lifetime. Surrender your policy without penalty anytime after 4 policy years.

TRAINING AND DEVELOPMENT

CONCEPT OF TRAINING Training is an organized activity for increasing the knowledge and skills of people for a definite purpose. It involves systematic procedure for transferring technical know-how to the employees so as to increase their knowledge and skills for doing specific jobs with proficiency. Training makes newly appointed workers fully productive in the minimum of time. Training is equally productive in the minimum of time. Training is equally necessary for the old employees whenever new machines and equipments are introduced and or there is a change in the techniques of doing the things. In fact, training is continuous process. It doesnt stop anywhere. The managers are continuously engaged in training their subordinates. They should ensure that an y training program should attempt to bring about positive change in the Knowledge Skills Attitude

Of the workers the purpose of training is to bring about improvement in the performance of work, it includes learning of such techniques as are required for the better performance of definite tasks. Training makes newly recruited employees fully productive in the minimum of time. Even for the old workers, it is necessary to refresh them and to enable them to keep up with new methods and techniques as well as new machines and equipments doing the work.

CONCEPT OF DEVELOPMENT The process of training and development are often confused. Training means learning the basic skills and knowledge necessary for a particular job or a group of jobs. But Development, on the other hand means growth of the individual in all aspects. An organization works for the development of executive or potential executives in order to enable them to be more effective in performing the various functions of management. Development is an education process as it tries to enhance ones ability to understand and interpret knowledge in a useful way. Development is different from training in the sense that ir is often the result of experience and maturity that comes with it. It is possible to train most people to drive a vehicle, operate a computer or assemble a radio. However, development in such areas as judging what is right and what is wrong, taking responsibility for result thinking logically, understanding cause and effect relation ship synthesizing experience to visualize relationship, improving communication skills etc, may or may not come through overtime. Training certainly helps in improving these types of skills, but when the intent is to enhance executive ability to handle diverse jobs and prepare them for future challenges, the focus must shift to executive development. Executives development focuses more on the managers personnel growth. It is more future oriented and more concerned with educating them is employees training NEED FOR TRAINING THE EMPLOYEES OF THE COMPANY After employees have been selected for various position in an organization, training them for the specific tasks to which the have been assigned assumes great importance. It is true in many organizations that before an employee is fitted into a harmonious working relationship with other employees, he is given adequate training Training is the act of increasing the knowledge and skills of an employee for performing a particular job. The major outcome of training is learning a trainer, learns new habits, rein fined skills and useful knowledge during the training that helps him improved performance. Training enables an employee to do his present job more efficiently and prepare himself for a higher level job The essential features of training may he stated thus

Training is needed to serve the following purpose: Newly recruited employees require training so as to perform their tasks effectively. Instructions, guidance. Coaching helps them to handle their jobs competently without any wastage Training is necessary to prepare existing employees for higher level jobs (promotion) Existing employees require training so as to keep abreast of the latest development in job operation in the face of rapid technological changes. This is an absolute necessity. Training is necessary when a person moves from one job to another (transfer). After training, the employees can change job quickly, improve his performance level and achieve career goals comfortably. Training is necessary to make employees mobile and versatile. They can be placed on various jobs depending organizational needs. Training is needed to bridge the gap between what the employee has and what the job demands training is needed to make employees more productive and useful in the long run. Training is needed for employees to gain acceptance from peers (learning a job quickly and being able to pull their own weight is one of the best ways for them to gain acceptance).

PRINCIPLES OF TRAINING Modeling Modeling is simply copying someone elses behaviour. Passive classroom

Learning doesn't leave any room for modeling. Motivation Motivation for Learning to take place, intention to learn is important. When the Employee is motivated, he plays attention to what is being said, done and presented motivation to learn is influenced by the answer to questions such as. How important is my job to me? What is information? Will learning help me progress in the company. Reinforcement If a behaviour is rewarded it probably will be repeated positive

reinforcement consists of rewarding desired behaviour. People avoid certain behaviour that invite criticism and punishment. A bank officer would want to do a part of graduate course in finance. If it earns hi increment and makes him eligible for further promotion. Feedback People learn best if reinforcement is given as soon as possible after training

every employees wants to know what is expected of him and how well he is doing. Spaced Practice Learning takes places easily if the practice sessions are spread over a

two or three day period instead of covering it all in one day. Whole Learning The concept of whole learning suggests that employees learn better if the job information is explained as an entire logical proc ess so that they can see how the various actions fit together into the big picture. A broad overview of what the trainee would be doing on the job should be given top priority Active Practice Practice makes a man perfect. So said bacon to be a swimmer, you

should plunge into water instant of simply reading about swimming or looking g at films of the worlds best swimmer

APPLICABILITY OF TRAINING
Training should be as real as possible so that trainee can successfully transfer the new knowledge to their jobs. The training situation should be set up so that trainees can visualize and identify with the types of situations they can come across on the job.

ENVIRONMENT Environment plays a major role in training. It is natural that workers who are exposed to training in comfortable environment with adequate well spaced rest period are more likely to learn then the employees whose training condition are less than ideal. Generally speaking, learning is very fast at the beginning. Thereafter the pace of learning slows down as opportunity for improvement taper off.

AREA OF TRAINING The area of training which training is offered m ay be classified into the following categories Knowledge Here the trainee learns about a set of rules and regulations about the job, the staff and the product or services offered by the company. The aim is to make the new employee fully aware of what goes on inside and outside the company. This knowledge helps him a lot in proper understanding of the framework under which he has to work. Technical skill The employee is taught his specific skill (for example -operating a machine, handling computer etc) so that he can acquire that skill and contribute meaningfully. He is given knowledge about the technicality of the job and practical exposure to the work helps him a lot to acquire the knowledge through working. Social skills The employee is made to learn about him self and others and to develop a right mental attitude towards the job, colleagues and the company. The principle focus is on teaching the employee how to be a team member and get ahead. This requires proper communication within the employees to work efficiently and establish a cordial relationship between them.

Techniques This involves the application of knowledge and skills to various on the job situations. In addition to improving the skil1s and knowledge of employees, training aims at moulding employees attitude. When administered properly a training program will go along way in obtaining employee loyalty, support and commitment to company activities.

METHODS OF TRAINING ADOPTED BY THE COMPANY

A wide range of training methods and techniques have been developed over the years by training experts. Different training experts Different training methods are suitable for different categories personnel in the organisation. Managerial and non managerial, technical administrative, skilled, unskilled, senior junior and so on. Each organisation has to choose those methods and techniques of training which are relevant for training needs: The various methods of training classified by the company are as follows: On The Job Training Of The Job Training

On the job Training Training given to employees in the workplace as they perform everyday Work activities is known as on the job training. On the-job thing is based on the principle of learning by do and includes & demonstration and explanation by a more experienced employee, supervisor, or manager; performance tasks under supervision; and the provision of appropriate feedback. On the job training is suitable for imparting skills that can be learnt in a relatively short period of time. It has the chief advantage of strongly motivating the trainee to learn. It permits the trainee to learn on the equipment and in the workenvironment. On the job training method are relatively cheaper and less time consuming. Another important factor about on if job training is that supervisor play an important part in training the subordinates. Types of on-the-job training include: coaching, delegation, job rotation, secondment, participation in special projects understudy

Off the Job training As the name implies off the job training is the training done or behalf of employers, usually away from their premises. It can involve both theory (background knowledge) and practical training may include assessment and examinations. Although usually delivered on the premises of the provider it may involve online learning in the workplace and visits from provider staff to the employer in order to deliver aspects of training. Off the job training involves employees taking training course away from their place of work. This is often also referred to as "formal training". Off the job training courses might be run by the business training department or by external providers. The main types of off the job training courses are: Day release (where the employee takes time out from normal working hours to attend a local college or training center) Distance learning/ evening classes Revision courses (eg. In the accountancy profession, student employees are given blocks of around 5-6 weeks off on pre exam courses) Block release courses which may involve several weeks at a local college. Sandwich courses where the employee spends a longer period of time at college (e.g. six months) before returning to work. Sponsored courses in higher education. Self study, computer based training (an increasingly popular option- given that attendance at external courses can involve heavy cost).

TYPES OF TRAINING PROVIDED BY THE COMPANY TO EMPLOYEES AND WORKERS Mostly seen that there are many approaches to training, we focus here on the types of training that are commonly employed in present-day organizations. (a) (b) (c) (d) (e) Skills Training Refresher Training Cross functional Training Team Training Creativity Training (f) (g) (h) Breaking Away Generate New Idea Delaying Judgment

Diversity Training Literacy Training Training for promotion

Skills Training This type of training is most common in organisations. The process he is fairly simple. The need for training in basic skills (such as reading, writing, computing, speaking, listening, problem solving, managing oneself, knowing how to learn. working as part of a team, Leading others) is identified through assessment. Specific training objectives are set and training content is developed to meet those objectives. Several methods are available for imparting these basic skills in modern organisation (such as lectures, apprenticeship-on the job coaching etc). Before employing these methods managers should: Explain how the training will help the trainees in their jobs. Relate the training to the trainees goals. Respect and consider participant's responses and use these as a resource. Encourage trainees to learn by doing Give feed back on progress towards meeting learning objectives.

Refresher Training/ Retraining As the name implies, the refresher training is meant for the old employees of the enterprise. The basic purpose of refresher training is to acquaint the existing workforce with the latest methods of performing their jobs and improve their efficiency further. In the other words Retraining program are designed to avoid personnel obsolescence. The skills with the existing employees become obsolete because of technological changes and because, of the tendency of human beings to forget. Thus refresher training is essential because of the following factor: The workers require training to bring them up-to-date with the knowledge and skills and to relearn what the have forgotten. Rapid technological changes make even the qualified workers obsolete in course of time because new technology is associated with new work-methods and job requirements. The workers need to learn new work methods to use new techniques in doing their jobs. Refresher training becomes nece4aiy because many new jobs which created due to change in the demand for goods and services are to be handled by the existing employees. Cross Functional Training A growing career means a well built up resume, and developing a heap of valuable job experiences in the portfolio means amassing maximum opportunities and working in varied areas in the given work environment. Today, every organization encourages employees to be multi skilled and add value to other functional aspects as well, which fall beyond their routine purview of job description laid down as organizations face the heat from customers and competitors, combating attrition, adapting to business continuity, and maximizing outputs with optimum resources, it is all done for the indispensable need of the hour to stay in the hunt. Cross-functional trainings are not just business obligations for companies, but an effective a mechanism to cater to individual interests and career growth prospects as well Companies are increasingly indulging in cross-training their skilled staff, who show the potential spark, not only to satisfy their business interests, but also to help employees satisfy their personal appetite for sharpening the skill sets and broadening the knowledge base. Arun Rao, Vice-president, HR, Applabs, said 'The increase in the rate of change especially in the IT/ITeS segment is fast leading to obsolescence. Cross Functional trainings are not confined to HR or finance, but extend to areas like strategy and marketing

as well. Cross skilled employees mean active deployment of resource for organizational development. It essentially boils down to deriving maximum bank out of the buck. These trainings help companies to build general managers, ad employees to breakout of theirrole fatigue by providing opportunities of vertical growth in career track, opening up multiple career tracks, and applying the business acumen in day-to-day activities, thereby adding significant value to their own profile. Cross-functional training is essential for organizations today to understand and derive business process knowledge across business lines and to implement the best practices into respective teams. It facilitates organizational learning, enabling the employees to perform a wider variety of tasks and infusing flexibility in work scheduling, leading to an improved coordination. Team Training The training programs of aim to match employee competencies and personal aspirations with the needs of the business, and to do this at every stage of their career within the business: Recruitment, induction, progression, promotion, changes in field, professional mobility etc. They focus on two main themes: Assessment, in a specific context, of professional knowledge, personal qualities and growth potential of the employees. Competency support and development through individual and team coaching training Essential training depends upon efficient team building. "Team building" means a host of different things depending upon who ask. Some feel that its getting better acquainted, others think it should build trust, still others say it must improve communication, bonding, or learning how to solve problems as a group. And everyone agrees that there is an element of fun, because team building g uses interactive games and adventures. In reality, team building is all of the above and more. A good team building exercise creates positive interaction among a group of people, and in doing so enhances their ability to work effectively as a team when they return to the workplace. At Corporations team training is an important tasks performed by the managers which enables the whole team to achieve the targets successfully and efficiently through motivation and learning. While training the team the manager utilize key skills necessary

to succeed in business., clear communication, collaboration, trust, risk-taking, leadership, empowerment, encouragement and support. These are exercises that anyone can participate in-without fear of physical harm or looking silly to one's associates. He asks and encourage people to stretch their mental capabilities and to embrace teamwork. The, have such a great time doing it. Creativity Training Creativity Training & enhancement are mental and psychological methods through which the manager can improve or enhance the level of personal creativity of their employees. Creativity is increasingly valued by business organizations; many are making it one of their highest training priorities. Business week reports that over half of the Fortune 500 Companies send their chief executives as well as employees from all other levels of the organization for creativity training. These modem day characteristics add up to one important point no firm can take anything for granted. The only certainly in todays world is uncertainty. To deal with this situation, organizations need employees who are creative and flexible thinkers The consensus now is that creativity can be taught. The ability to come up with something new is generally not a function of heredity nor, is it a function of an extremely high education. Here is no magic associated with the skill of creativity. The ability to see more and come up with new ideas or solutions can be learned Creativity is a skill that can be developed by just about every employee. It is a thinking skill, not difficult to m aster. All creativity training involves is first making & employees aware of some basic principles and techniques and then having them use these principles and techniques on the job. The generation of new initiatives is what creativity in business is all about. There are many benefits to be gained by having an organization support creativity programs. Fostering more creativity and innovation results in: New products or services created Improvements in current products and services Better and faster decision making

Reduction in production and marketing costs. Identification of new market segments Looking ahead to avert threats to the company. New ways of promoting the companys services Better product differentiation to eliminate the competition Personal growth and wellness for employees Superior business performance and higher profits

Diversity Training Diversity training is training for the purpose of increasing participants cultural awareness, knowledge, and skills, which is based on the assumption that the training will benefit an organization by protecting against civil rights violations increasing the inclusion of different identity groups, promoting better teamwork Diversity training has been a controversial issue, due to moral considerations as well as questioned efficiency or even counter productivity According to Michael Bird, many project managers may feel hat they-are 'treading new territory as, they lead project teams made of individuals 'from different cultures, heterogeneous mixes, and differing demographics. This signals a lack understanding of the techniques required to manage diverse teams which can lead to project managers being less efficient and effective. This in turn can cause the team member motivation, satisfaction levels and productivity to drop due to the lack of knowledge and skills needed to lead diverse teams. Bird further states that the project manager will need to refine and improve, management techniques and should 'complete a post project evaluation to measure the overall results managing the diverse teams. Based on Birds research, the following positive approaches can be adopted by the project managers leading such heterogeneous teams in order to seek positive effects of managing diversity in Project teams effectively Recognize that diversity will bring a greater skills base when managed properly Improve the overall climate on diverse project teams in order to improve satisfaction, reduce conflicts, and improve team member retention Encourage creativity, flexibility, and innovation among the team members which will allow the injection of new ideas and challenge the normal organizational mindsets

Bird further concludes in his article that managing diversity provides greater opportunities for project teams with better performance, and greater strategic awareness, which enables them to be more innovative and responsive Diversity training is defined differently by very organization . from a broad perspective, diversity training is training aimed at raising employee awareness about differences among individuals in the work place and how those differences impact the way people work, individually and with others. From a narrow perspective, diversity training is training aimed at compliance with federal and state employment laws. Diversity encompasses the human attributes that are different among various groups. These attributes include (but are not limited to) age, gender, ethnicity, race, sexual orientation, education, income, marital status, and religion Diversity training provides several benefits for employers and employees First, diversity training helps to prevent discrimination and to support inclusiveness. It increases staff morale, productivity, and retention. It improves organizational responsiveness to diverse customers and community relations. It promotes creativity and communication. It increases employee an organization's ability to adjust to change and its accessibility and accountability regarding the community it serves. Types Diversity training can be grouped into three general types. The first is awareness training. This type of diversity training aims at increasing awareness of diversity related issues and discussing assumption an d stereotypes. Awareness training increases training is skills training. This type of training focuses on changing behaviour and teaches employees how to respond to diversity based differences on the job, types of skills taught in this training might include coaching interviewing delegating and conflict resolution. The third type of diversity training is integrated training. This type of training integrates diversity into existing training programs. Literacy Training: The impact of adult illiteracy on private industry is increasingly visible. Historically', the severity of the adult illiteracy problem was obscured by adequate employment for adults with little or no literacy skills, simpler definitions of literacy, faulty survey methods, and a

stigma that kept (and still keeps) many people from admitting illiteracy or seeking help. Now, however, business and industry face a growing awareness of the extent ad costs of illiteracy in the work force, as increasing technological advances and foreign competition raise workers basic skill requirements As a result companies are finding that many more employees are functionally illiterate than those who fit former stereotyped notion Demographic factors and changes in jobs are also creating a need for work place literacy programs. In order to enter and thrive in the work force, individuals must possess certain basic literacy skills. The Literacy skills needed to perform work, successfully are commonly referred to as job related ort workplace literacy skills. Most employers are interested in a range of skills beyond the traditional because todays workplace requires not only the ability to read, write, and compute, but also the ability to use these skills in problem solving. The two factors which are important in understanding the nature of workplace literacy are: (1) (2) The time spent in reading and writing averages two hours per day and The difficulty level of the materials is high, ranging from 10 th to 12th grade level or higher. The literacy programs organised by the company improves the caliber of the employees, leads to their development and high turnover for the company. For educating the employees nowadays new basic skills programs were initiated after it was discovered that employees lacked the basic skills with which to acquire more technical skills. Diplomas or their equivalents are rapidly becoming g the new standard entry level requirements for industry. Program evaluation tended to b e informal and based on feedback from instructor, employee and supervisor. Most industry based literary training occurs on the company site, party for employee convenience and partly because many employees find schoolroom environments inhibiting. Training for promotion: The talented employees may be given adequate training to make them eligible for promotion to higher jobs in the organization. Promotion of an employee means a significant change in his responsibilities and duties therefore, it is essential that he is provided sufficient training to learn new skills to perform his new duties efficiently. The

purpose of training for promotion is to develop the existing employees to make them fit for undertaking higher job responsibilities. This serves as a motivating force to the employees. SIGNIFICANCE OF TRAINING PROGRAM CONDUCTED BY THE COMPANY Employee training is important for any business. Employee training helps in overall improvement of the employees. The skill training increases the productivity of the employees. Better production results always motivates the employees to perform better and increases job satisfaction which in turn reduces the staff turn over. By streamlining the employee induction through the training procedures management shall be able to assess the employee skills and at any point of time take appropriate actions. Employees are assets to many business houses. By improving the quality of employees through training the company is adding value to its brand investment. Almost all major corporations have identified the importance of training and have very efficient training faculties to train their employees in house. On site training has many advantages since its done real work environment, which involves real job process and assessment system. Benefits of Employee training It's Cost effective: Since the training is delivered within the company premises, it helps the company save a lot of money which otherwise would have been spent on hotel and travel expenses. Smaller establishments with less budget allocation for training can consult management consulting firms to find right kind of trainers for their company. Flexible and Convenient The trainings can be conducted anytime at the convenience of the management. The materials for the training are always available in real environment. Prop training schedules will make sure the production is never hurt because of the training programmes. New projects can be incorporated into the training modules and the sessions can create a platform for the employees to get used to the changing techniques in their trade and get themselves updated. Employee Assessment Employee training programs helps management to asses the skills and performance of individuals, thereby provide necessary support and periodic appraisals.

EMPLOYEE DEVELOPMENT

Employee development is a joint, on-going effort on the part of an employee and the organization for which he or she works to upgrade the employee's knowledge, skills, and abilities. Successful employee development requires a balance between an individuals career needs and goals and the organization's need to get work done. Employee development programs make positive contributions to organizational performance. A more highly-skilled workforce can accomplish more and a supervisor group can accomplish more as employees gain in experience and knowledge Identifying and discussing employee development needs Successful employee development depends upon conversations held in an atmosphere of trust and collaboration. To engender such an environment: Find a private, comfortable spot for the discussions Allow plenty of time- a rushed sense will not help build rapport Make sure you listen as you establish a two-way conversation . Ensure that any goals set are clear and attainable Outline the next steps and responsibilities for each step

The role of a supervisor is to provide information and support to the employee during this development process. Employee Experiences and Actions Essential for successful employee development is participation in various experiences. Some of these experiences can be educational (training classes, workshops), but there are many other experiences that can contribute to employee development:

Job Experiences Temporary assignments Cross-training, rotation Conducting meetings, conferences, forums Preparing and making presentations Participation on a larger-scale committee Job shadowing Networking .

Relationships Mentoring by more experienced co-worker Job sharing and back up Coaching a less experienced co-worker Career coaching

Individual Development Plans When working with an employee, its helpful to work together to put together an Individual Development Plan (IDP). This tool translates goals into concrete action steps.

STAGES OF EMPLOYEE DEVELOPMENT

Everyone goes through several stages of development as they move from being a career "beginner" to a full expert in their field. Each stage has specific needs and tasks to consider. As you workwith employees on development, it can be helpful to look at their stage in order to find the best kind of activities for them. Keep in mind that the stages do not relate to age. If an employee has recently completed a career change, he or she is probably An the "exploration and trial stage. If, on the other hand,, he or she has burned out on his or her career, he or she might be in "disengagement" even though chronologically he or she might be in his or her early thirties in age Stages in a job or Career Stage Characteristics Work with Needs Tasks regular Learn to ask for Develop self- image to in the job take Becomes a Accept organization al

Exploration and Trail Establishment and advance

guidance help Work is routine, detailed Learn has own area or initiative responsibility Work independently Independence specialization

Build a reputation realities Learn to work Learn how to cope Deal with or lack of it Learn how to get Feel ahead are not knowledge help Serve as mentor develop through change

independently and Produce significant results

Responsible for guiding disappointment if others others Mid Career; Growth, Maintenance Decline Disengagement goals achieved Use great breadth of Learn to technical skill to support others organization Use experience to provide direction for the organization Influence decisions

ROLE OF SUPERVISOR IN EMPLOYEE DEVELOPMENT

The supervisor has several roles to play, but providing information and support to facilitate the employee's development is what is most important. There are a few basic roles for a supervisor in developing employees. They include: Coaching employees to help them determine what they need for development. Providing both positive and corrective feedback Offering organizational insight, information, and advice Guiding the planning through goal setting and checking back overtime. Allotting time and money for development experiences Ensuring opportunities for applications of new learning.

It is very helpful for an employee to get an honest assessment of their work, as tell as access to others who may be able to provide information or coach the employee. The successful supervisor will also respect every employees learning curve. It takes time for anyone to learn new skills and be able to apply them well; this does not happen overnight. Building this development time into the application of a new skill set will make the employee more successful.

ROLE OF THE EMPLOYEE Some things that the employee should consider in their own development include seeking a variety of assignments, tackling tough problems and asking for feedback. Coaching is another helpful activity, both in looking for opportunities to coach other., and finding good coaches for him or her. It can help to ask for feedback when working with a variety of people a with a variety of people and in variety of situations. Employees should be looking for developmental relation ships that can provide a variety of learning. They can also identify goals for new skills and abilities and then look for ways to meet those goals. It can also be helpful to attend classes and workshops to fill in conceptual; needs. While employee development is critical to the success of an organization, both the employee and the organization must recognize that most of the responsibility for development falls to the employee. Some things the employee should have and consider when beginning work towards development. Specific goals; identify goals for new skills and look for ways to meet those goals Energy to make the development possible

A variety of work assignments Asking for feedback Opportunities to coach others and finding good coaches for him or herself. Development relationships that provide a variety of learning

CAMPUS RESOURCES FOR EMPLOYEE DEVELOPMENT Career Development Services Employee Career Services Employee Career Services offers courses and individualized consulting on a wide variety of career develop topics. Other Career Planning Services on Campus A variety of units on campus provide workshops, counseling and other services to help you explore career options and determine next steps. Paying for Employee Development Tuition Benefits The University offers a tuition, benefit to eligible staff for credit courses at the university. Civil Service Staff Development Fund Civil Service employees may be eligible for professional development funds from the Civil Service Committee to cover certain professional development costs. Campus Training & Development Opportunities Personal & Professional Development Program Promotes the University's culture of excellence by helping people at all levels of the organization develop their skills and capabilities. Training Services Courses including Enterprise Financial System (EFS), Forms Nirvana, HRMS and EGMS systems.

Leadership Development Programs such as the President's Emerging Leaders, Women's Leadership Institute, and Successful Manager Leadership Seminar. Other Campus Resources The Office of Human Resources maintains a directory of training and development opportunities available on campus in areas such as computer skills, Health & safety, and multicultural and diversity awareness. Resources for Supervisors Training Inventory The Training Inventory is a compilation of various professional development and required training offered by units/departments at the University of Minnesota. This Compilation is not an exhaustive list of the training available but is intended to serve as a starting point for managers to use In identifying what training or professional development an employee should take. Supervisory Development Program The Supervisory Training Program offers courses on many topics, including Motivating and Developing Staff and Talent Management:'

Employee Career Services Employee Career Services provides customized consulting and training to departments on a variety of topics including Promoting professional development.

METHODS ADOPTED FOR EMPLOYEE DEVELOPMENT Training A well-designed training program that maximizes learning before, during and after instruction translates into positive, lasting changes on the job. Effective programs should include orientation, on the job training and classroom instruction Internet-based learning is an option that allows employees to learn at their own pace and on their own schedule Self Directed learning This approach puts individuals employees in control of their own learning, allowing for person al differences in learning styles and encouraging ownership of the learning process. When this approach, many employers work with employees to develop a learning contract or personal development plan. The contract or plan, which is signed by both parties, outlines clear learning goals. Coaching and mentoring Demonstrated benefits of these approaches include improved quality and quantity of work, transfer of learning and, for employees, improved communication and problem-solving skills. Effective coaching and mentoring programs depend on the skills and personality of the mentor or coach, adequate time for coaching and mentoring sessions and established time- lines and goals. Employee Promotion Promoting someone to a position of greater responsibility is a traditional way of rewarding good performance, developing employee skills and retaining valued employees.

Effective promotion involves careful consideration of many details, including identifying g gaps in skills and experience and providing support through training, coaching or mentoring.

Job enrichment Job enrichment increases the employees authority responsibility within their current position. Examples include committee work, special assignments or serving on cross functional teams. This approach increases interest and motivation by allowing employees to try new skills, build new relationships and explore new areas of specialization. Job rotation and cross training Job rotation moves an employee through one or more different positions. The rotation can last several hours, several months or even a year or two. Cross training is a specific type of job rotation where an employee learns skills of a different position. These approaches can effectively add diversity and interest, prepare individuals for promotion, rejuvenate work units and improve communication. Lateral moves In a lateral move, an employee moves to a different position with similar status, pay and responsibility. A lateral move may offer new challenges or encourage the development of different skills of an employee who may not necessarily want increased responsibility. This approach increases flexibility and communication among work units and in small business with few opportunities for advancement, helps to retain valuable employees who might otherwise leave.

Jobs aids Jobs aids include checklist; tip sheets, wallet cards, posters, pictures, code lists, flow charts and diagrams anything that offers on the spot practical help or reminders. Job aids can reduce the amount of information employees need to recall by providing easily accessible facts. Well designed job aids are concise, written in plain language and make good use of white space and graphics for easy interpretation. Effective training and development better equips an organization to meet business challenges from staffing shortages to retention. Developing employee skills. help generate the kind of performance that carries employers and employees forward.

RESEARCH METHODOLOGY

Research Methodology is way to systematically solve the research problems It may be understood as a science of studying how research is done scientifically. In it we study the various steps that are generally ad6pted by a researcher in a studying his research problem along with the logic behind them. Thus when we talk of research methodology we not only talk of the research methods but also consider the logic behind the methods we use in the context of our research study & explain why we are using a particular method or technique & why we are not using others so that research results are capable of being evaluated either by the researcher or by others. RESEARCH DESIGN Under this project descriptive study is used. It include survey & fact finding enquiries. RESEARCH APPROACH Survey research was employed in the study as it is best suited for descriptive research to learn about people knowledge, benefits, preferences, satisfaction and so on and to measure these magnitudes in population. DATA COLLECTION Data is an important tool for the success of any survey project. In order to make meaningful research a suitable methodology has to be adopted. Data are of two types i.e. primary data & secondary data. PRIMARY DATA Primary data are those which are collected afresh & for the first time under this project primary data are collected through open ended & close ended questionnaires. SECONDARY DATA Under this project secondary data is used whenever needed at: I. Different websites

UNIVERSE OF THE STUDY It refers to the population from which the sample selected. Universe for study was Birla Sunlife (Ambala) employees. SAMPLING TECHNIQUE Convenience sampling. SAMPLE SIZE 32

RESEARCH INSTRUMENT Non-disguised structured questionnaire, the pre-testing was carried out under field conditions. The final format was found to he less time consuming and more efficient in eliciting the responses from the respondents for collecting the requisite data. PRESENTATION OF DATA Data is presented in the form of tabulation & graphs ANALYSIS OF DATA Simple statistical tool such as percentage method were used analyze and interpret the data OBJECTIVES 1. 2. 3. To study the training process of Birla Sunlife. TO study the various method of training used by the Birla Sunlife for the training of workers and employees at higher levels To know which method is best for training the employees and workers at managerial & technical level. LIMITATIONS The main limitations can be: The sample size is small because survey is conducted only in limited areas. Lack of time is also a reason of some incomprehensive. Accuracy of the respondents depends upon the mood. Resistance on the part of the respondents to give the in formation is also a limitation. Biasness in views of respondents cant be ruled out.

DATA ANALYSIS AND INTERPRETATION 1. Do you know about the importance of training? Particulars Yes No Percentage 100 0

Yes No

100

As per the above chart, 100% the respondents are known about the training?

2. What do you think the training? Particulars Positive process Negative process Process of developing abilities To perform well Percentage 41 3 56

Positive process 41 Negative process 56 Process of developing abilities to perform well 3

As per the above chart, 41 employee said, training is a positive process to achieve better result & 3% employees said it is a negative process 56 % employees is process of developing abilities to perform well searching good employees for a job.

3. What is your primary goal of training? Particulars Replacement for turnover Current & future business expansion Learning from other firms Increasing the capability of firm Percentage 16 31 13 40

16 40

Replacement for turnover Current & future business expansion 31 Learning from other firms Increasing the capability of firm

13

As per the above chart 16% employees said primary goals of training is replacement for turnover & 31% employees said primary goals of training is current & future business expansion & 13% employees said learning from other firms & 40 % employees said primary goals is to increase the capability of the firm.

4. Is training process helps the company to get efficient manpower for the job? Particulars Yes No Percentage 56 44

44 56

Yes No

As per the above chart, 56% employees said training process helps the company to get efficient manpower & 44% employees said training process not help the company to have efficient manpower.

5. Which steps company follows to train the employees already working in the company? Particulars Participation in special projects Understudy Special lectures cum discussion Job rotation Percentage 13 16 49 22

22

13 16

Participation in special projects Understudy Special lectures cum discussion

49

Job rotation

As per the above chart, 13% employees said company conduct a training program by making employees participate in special projects & 16 employees said training is imparted through understudy & 49% employees said special lectures cum discussions are arranged & 22% employees said company use job rotation to train the employees.

6. What educational qualification required for imparting training? For management level

Particulars B.A B.B.A BMIT M.B.A

Percentage 19 28 6 47

19 47 B.A B.B.A BMIT 28 6 M.B.A

As per the above chart, 19% employees said, B.A is required for imparting training to working class & 28% employees said, B.B.A is required for imparting training to working class & 6% employees said, BMIT & 47% employees said, M.B.A is required for imparting training to working class.

7. How long the company takes to implement the trained process? Particulars Less than 1 month 1-2 months 2-4 months More than four months Percentage 46 28 13 13

13 13 46 Less than 1 month 1-2 months 2-4 months 28 More than four months

As per the above chart 46% workers said the company takes less that 1 month to implement the training process, 28% said 1-2 months are usually taken by the company, 13% said 2-4 months are 13% said that it takes more than 4 months to implement the trained process.

8. How well the workplace of the training is physically organized? Particulars Excellent Good Average Bad Percentage 38 37 16 9

9 16 38 Excellent Good Average Bad 37

When this question was asked from the workers, 38% said that the workers of training is very excellent, 37% said its good, 16% said average and 9% said its bad.

9. The training sessions conducted in the organization are useful? Particulars Yes No Percentage 78 22

22

Yes No

78

As per the above chart, 78% employees said that the training session conducted by the company is useful & 22% employees are not satisfied with this.

10. Training methods seem to very according to the job level & skills? Particulars Yes No Percentage 100 0

Yes No

100

As per the above chart, 100% the employees said training methods very according the job level & skills.

11. According to you which method is best to train the exiting employees? Particulars Educational institutions Refresher courses Percentage 38 62

38 Educational institutions Refresher courses 62

As per the above chart, 38% employees said educational institutions are best method of training the older employees at managerial level & 62% they should be give retraining or refresher courses can help them a lot.

12. According to you which method is best train the workers and employees? Particulars Job rotation External training Conference/Discussion Programmed instructions Percentage 54 3 34 9

Job rotation External training

34 3

54

Conference/Discussion Programmed instructions

As per the above chart, 54% employees said the job rotation is best method to train the workers and employees to do work efficiently & 34 said conference/ discussion & 3% employees said external training is the best method of training & 9% employees said programmed instructions is the best method of increasing efficiency of work men.

13. What are the common constrains in raining the workers? Particulars Image of the firm Budgetary support Organization policies Govt. policies Percentage 16 31 47 6

16 Image of the firm Budgetary support Organization policies

47

31

Govt. policies

As per the above chart, acc. To 16% employees image of the firm is common constraint in training the employees & Acc. To 31% employee budgetary support is common constraint in training the employees & Acc. 47% employees organization policies are common constrain in training the employees & Acc. To 6% employees govt. policies are common constraint in training the employees.

14. Do you think the basic purpose of training productivity? Particulars Yes No Percentage 78 22

is only to increase the total

22

yes no

78

As per the above chart, Acc. To 78% employees basic purpose of training is only to increase the productivity & 22% employees are not agree with it.

15. What are the other requirements for the imparting training to workers and employees? Particulars Good communication skills Good personality Experience Knowledge Good communication skills & Good personality Percentage 44 31 6 6 13

Good communication skills 13 6 6 44 Good personality Experience Knowledge 31 Good communication skills & Good personality

As per the above chart, 44% employees said Good communication skills are required & 31% employees said, Good personality is required & 6% employees said experience is required & 6% employees said knowledge is required for imparting training to workers and employees & 31% employees said Good communication skills & good personality is required.

CONCLUSION
It has been conclusion the study that is in Birla Sunlife. 100% employees know about the importance of training given to them Most of employees said training process helps to train the workers to increase their efficiency thus leading to increase in productivity. & company gives the training to the employee according the organization policies. Company used Job Rotation, Special lectures/ discussions, programmed instructions, Re-training to train workers and employees working at higher levels. Few employees are not satisfied with the methods used by the company. Most of employees agree with that training methods vary according to job level & organization policies are main constrain in organizing a training program for the employees.

FINDINGS
It is being found that all the employees of Birla Sunlife (Ambala) know about the importance of training. 40% of the employees said primary goal of training is to increase the capability of the firm. 56% of workers said that training is the process of developing abilities to perform well. 49% employees said company trains the employees according to organization policies. 49% said that special lectures cum discussion are used to train the workers already working in the company. 47% said that the educational qualifications required for imparting training at managerial level is M.B.A. 46% workers said that the company takes less that I month to implement the trained process. 38% workers said that the workplace physically organised for training is excellent. 78% employees are satisfied with the methods used by the company to train the employees. 48% employees said that the best method to train the old employees is refresher courses. All the employees are agreeing with that training methods vary according to job level & skills. 54% employees said best method of framing the workers is & 34% said conference/ discussion is best method of training. 47% employees said organization policies are main constrain in recruiting the middle level employees & 31% said budgetary support. 78% employees are agreeing with that main purpose of is to train the workers to improve their efficiency.

RECOMMENDATIONS
Company should revise the methods of the training because few employees are not satisfied with the methods used by the company for training. Company should recruit highly qualified persons for imparting training at higher level jobs. For the imparting training to technical level of the employees MCA should be necessary because it provide full/ detailed knowledge about the technical requirements. Company should revise the organization policies because most of employees views that it is main constraint in training of employees. Company should provide budgetary to personnel department for the organising the training programmes for the employees

ANNEXURE ( QUESTIONAIRE)
1. Do you know about the importance of training? (a) (b) Yes No

1. What do you think the training? (a) (b) (c) (d) Positive process Negative process Process of developing abilities To perform well

2. What is your primary goal of training? (a) (b) (c) (d) Replacement for turnover Current & future business expansion Learning from other firms Increasing the capability of firm

3. Is training process helps the company to get efficient manpower for the job? (a) (b) Yes No

4. Which steps company follows to train the employees already working in the company? (a) (b) (c) (e) Participation in special projects Understudy Special lectures cum discussion Job rotation

5. What educational qualification required for imparting training? (a) (b) (d) (e) B.A B.B.A BMIT M.B.A

6. How long the company takes to implement the trained process?

(a) (b) (c) (d)

Less than 1 month 1-2 months 2-4 months More than four months

7. How well the workplace of the training is physically organized? (a) (b) (c) (d) Excellent Good Average Bad

8. The training sessions conducted in the organization are useful? (a) (b) Yes No

9. Training methods seem to very according to the job level & skills? (a) (b) Yes No

10. According to you which method is best to train the exiting employees? (a) (b) Educational institutions Refresher courses

11. According to you which method is best train the workers and employees? (a) (b) (c) (d) Job rotation External training Conference/Discussion Programmed instructions

12. What are the common constrains in raining the workers? (a) (b) (c) (d) Image of the firm Budgetary support Organization policies Govt. policies

13. Do you think the basic purpose of training is only to increase the total productivity? (a) (b) Yes No

14. What are the other requirements for the imparting training to workers and employees? (a) (b) (c) (d) (e) Good communication skills Good personality Experience Knowledge Good communication skills & Good personality

BIBLIOGRAPHY
Sample survey reports conducted by company in previous years. Book titled Managing Human Resources by Macmillan publishers, India written by Arun Monappa. Book titled "Human Resource Management by kalyani publications written by T.N Chabbra www.tutor2u.com www.netMBA.com www.wikipedia.com Daily Diary