An Empirical Study on Performance Appraisal Practices at Life Insurance Corporation of India

Authors : Dr. A. Kumudha , Senthilkumar

Abstract

The Life insurance Corporation of India (LIC) has been a nation-builder since its formation in 1956 Characterized by global presence with a local focus and driven by customer orientation to establish high earnings potential and financial strength. Presently the company is facing a strong competition in the market because of a number of private players. Thus the aim of this paper is to enhance the performance management practices of Life Insurance Corporation Of India that fosters motivation, creativity, and job excellence of the employees who play a major role in the success of the company’s business. This study focuses on the theoretical background relating to the company and its industry, and also focuses on the detailed analysis and findings of the performance management practices towards the development officers at LIC. The research paper also includes suggestions for improvising the current performance management practices at LIC. This has got implications both for academics and corporate.

Keywords : Performance management practices, compensation, training, employee satisfaction, customer orientation.