Question

Hey guys, I really can use some helps to write this 5 pages handbook, the problem description is as follows:-

" You work in a large financial sector (a Insurance company) business. You have been appointed team leader and three new employees are starting work. Part of your role is induction of new employees into the business. The new employees have no experience in the financial services sector and it is your responsibility to explain and provide training to the employees on how to work effectively in the business. You will need to ensure that you cover what it means to be employed in the sector, the responsibilities, obligations and expectations. Develop the printed component of an induction program. It can be in whatever format you think is appropriate but it should be the equivalent of a 5 page handbook. In the introduction explain why it is important that this information be conveyed to the new employee."

(Please type up you answer and it needs to be at least 5 pages long)

Answer 1

This is a very subjective question. I have structured my thoughts and put them together below to help you out. Please use the notes below as a framework, add your own thoughts around the same and develop your own answer to this question.

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Introduction

Importance of induction and regular training can't be undermined in any organisation and financial services companies are no exceptions. While there is abundant materials and guidelines available in public domain to read and go through, the need for a structured induction and training program can't be eliminated for new employees. In the absence of a training and induction program for new employees, the consequences for the organisation can be far reaching and grave.

Objectives

The induction and training program aims to

• Educate an employee about the sector and industry
• Make the employees aware about the company's mission, vision, goals and values
• Align the employees thought process towards the goal of the organisation
• Inform him about the existing rules and policies at the workplace so the employees are not lost or get misdirected
• Make an employee understand the code of conduct at the organisation so that he can remain associated with the company for a long time.

What happens if there is no well structured induction and training program?

• In the absence of proper induction, an employee fails to understand the business environment he is expected to operate into.
• He is not able to understand his roles and responsibilities.
• He fails to align himself with the mission, vision and values of the company. He feels lost at the workplace. This results into:
  • Loss of productivity
  • poor performance
  • Adoption of malpractices
  • Higher attrition
• Employee fails to understand expectations from him. He misses the code of conduct and leads to performance disruption.

Design of the induction and training program

I will design the induction and training program around the following themes:

1. Introduction to the financial services sector
2. An overview of the insurance business
3. Mission, Vision, goals and values of our company
4. Code of conduct at the company
5. Roles and responsibilities of the employee
6. Employees obligations
7. Reward and compensation policy
8. Expectations from the employee
9. A day at the Head office
10. A day in the field
11. A day at a branch office
12. Closure

Theme wise execution plan will be as follows:

Sl. No.	Schedule	Theme to be covered	Methodology	Discussion Points / Contents
1	Day 1 - First Half	Introduction to financial services sector	Classroom sessions Active discussions Questions & Answers	Overview of financial services sector Key constituents: Banks, NBFCs, Regulators, Insurance agencies, Reinsurance Leading players in the sector Market forces in the sector Key success factors in the sector
2	Day 1 - Second Half	Overview of Insurance business	Classroom presentation Panel discussion amongst the new employees Guidance note from seniors in the company	Types of insurance business: Life Insurance, general Insurance, Vehicle insurance, Loan insurance Areas covered and excluded under different insurance Insurance products of our own company
3	Day 2 - First half	Mission, Vision, goals and values of our company	Corporate presentation Video - Guided tour of our company Meeting with Chairman, Managing Director	What does our company aspire to be in the long run? What are we chasing in the next 5 years? 10 years? What are our short term, medium term and long term goals? How have they been broken into objectives? What are the values prescribed and followed by the company? Honesty, integrity and confidentiality.
4	Day 2 - second half		Presentation by myself Circulation of roles and responsibilities by the HR department to each employee Questions and answers	Roles assigned to each employees Responsibilities: Target driven What should their approach be? Importance of customers Do's and Don'ts
5	Day -3	Employees obligations Reward and compensation policy Expectations from the employee	Talks by some old members of the company Open discussion over coffee breaks and lunch Brief talk by HR Head	Obligations of the employees: Honesty, integrity, confidentiality Expectations: Customer centricity, discipline, willingness to go out of comfort zone and achieve Company's policies for rewards, recognitions, promotions, employee retention policies, HR practices, Tips to maintain a good work life balance, Holidays, Leaves
6	Day - 4	A day at the Head office	Meeting with Business Heads and people occupying strategic position in the company Discussions Questions and answers Observations Theoretical tasks	A typical day at Head Office What activities are carried out at Head office How does Head office coordinate with fields office and branches Flow of information and communication
7	Day - 5	A day in the field	Assign a sample task to meet customer Answer the queries Win a business for the company	Practical hands on exposure to the real work environment
8	Day - 6	A day at a branch office	Meeting with Branch Head and Operations Head	Flow of information and communication Geographical spread of the organisations Total number of branches Coordination between the branches and field
9	Day - 6; last hour	Closure	A small talk by myself A closure note by HR Head	Concluding remarks Sample test to assess job readiness