General Insurance Player

wordadmin1and1

7 years ago

Grade Structure & Retention plan- General Insurance Player

No company is can work without its employees. Hence, apart from keeping external clients happy, it is mandatory for every organization to keep their employees happy so that they can deliver expected results and grow as the company grows. However, the company, despite of being a renowned insurance provider, was experiencing high attrition due to current work environment.

The company approached ABIA consultancy to:-
Create new grade structure across the organization to address grade compression issues arising from broad banding.
Create an action plan to address attrition issues at the junior and middle management levels.
Objective
Finding talent set of people that match up with the growth and with the right skills/qualities to work in their desired roles at entry level and middle management level. Apart from this, create strategy for employee retention.

Understand the current hierarchy structure job fitment and position titles
Conduct Market benchmarking of grade structure and designations
Conduct one-on-one and focused group discussions with the existing employees to know their current mindset on grades and designations
Understand the current retention practices followed by the company
Use best practice sharing in terms of grade structure and retention from other employee centric organizations
Develop a new hierarchy structure along with employee retention solution made up by the top management.

There was a remarkable impact after implementation of new practices and policies in the organization:-
The company now has clear understanding of employees opinions on the grades and designations
The new grade structure is now in-line with the current market standards
New retention policies and practices in place making lowering the attrition levels

Grade Structure & Retention plan- General Insurance Player

The company approached ABIA consultancy to:-

Create new grade structure across the organization to address grade compression issues arising from broad banding.

Create an action plan to address attrition issues at the junior and middle management levels.

Objective

Understand the current hierarchy structure job fitment and position titles

Conduct Market benchmarking of grade structure and designations

Conduct one-on-one and focused group discussions with the existing employees to know their current mindset on grades and designations

Understand the current retention practices followed by the company

Use best practice sharing in terms of grade structure and retention from other employee centric organizations

Develop a new hierarchy structure along with employee retention solution made up by the top management.

There was a remarkable impact after implementation of new practices and policies in the organization:-

The company now has clear understanding of employees opinions on the grades and designations

The new grade structure is now in-line with the current market standards

New retention policies and practices in place making lowering the attrition levels