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Sales Force Turnover: An Exploratory Study of the Indian Insurance Sector

Author

Listed:
  • Suman Pathak

    (IILM Academy of Higher Learning, India)

  • Vibhuti Tripathi

    (Motilal Nehru National Institute of Technology, India)

Abstract

The insurance sector in India is rising rapidly to bring in growth and employment opportunities. Insurance companies are basically human intensive, and human resources act as an undoubted differentiator. Quality manpower and its retention would act as a litmus test. Turnover of sales force has been high because of low entry and exit barriers. The paper addresses issues of recruitment, retention and turnover of sales force in insurance companies. An attempt is made to integrate them to Maslow’s Need Hierarchy. A survey was conducted among 350 employees who worked in or had left insurance companies to analyze factors that influenced their decisions and job satisfaction. The data were treated with factor analysis. Factors such as Safety & Security, Social & Esteem and Personal Work Style emerged as the influencers to join insurance companies. Primary Needs and Social & Self Esteem Needs were the factors associated with job satisfaction; Stress, Career Advancement and Work Environment emerged as factors for leaving the companies.

Suggested Citation

  • Suman Pathak & Vibhuti Tripathi, 2010. "Sales Force Turnover: An Exploratory Study of the Indian Insurance Sector," Management, University of Primorska, Faculty of Management Koper, vol. 5(1), pages 003-019.
    • Handle: RePEc:mgt:youmng:v:5:y:2010:i:1:p:5_003-019
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    Citations

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    Cited by:

    1. Pandey, Pallavi & Singh, Saumya & Pathak, Pramod, 2021. "An exploratory study on factors contributing to job dissatisfaction of retail employees in India," Journal of Retailing and Consumer Services, Elsevier, vol. 61(C).
    2. Neha Chhabra Roy & N. G. Roy, 2022. "Life Insurance Industry Agent’s Attrition: A Game Changer for Insurance Business," Global Business Review, International Management Institute, vol. 23(2), pages 426-439, April.
    3. Sunday Adekunle Aduloju, 2020. "Personality Traits and Performance of Salespersons among Insurance Companies in Nigeria," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 6(3), pages 127-138, September.

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