Role of Human Resource Management Approaches in Life Insurance Corporation, Arunachal Pradesh
Keywords:
Human Resource Management, Life Insurance Corporation, Arunachal Pradesh, Performance indicators, Multivariate AnalysisAbstract
In order to establish the purpose of study which intends to show the impact of HRM approaches on Life Insurance Corporation’s (LIC)performance, the researcher used multivariate analysis. Multivariate analysis is known as a statistical process of simultaneously solving one or more independent variables with more than one or multiple dependent variables and not only to compare the difference among the multiple dependent variables in establishing causality with the predictor variables. In the present study, the independent variables comprised of HRMapproaches in terms of Alignment, Retention Strategies, Recruitment & Selection, Training & Development, Compensation & Benefit, Performance Appraisal, Internal Communication, Career Planning, and Job Design whereas the dependent variable comprised of measures of Life Insurance Corporation’s (LIC)performance in terms of Rate of Productivity, Quality of services/products, Customer Service and Sales Growth. The results of following null hypothesis will be analysed with the findings of multivariate analysis.The study used multivariate analysis for the given objective of the study. The results indicated that the impact of HRM approaches on Life Insurance Corporation was significant. Given the above variables, the multiyear project designs and rollouts to fast design strategy under the alignment approach of HRM approaches significantly influences Life Insurance Corporation’s sales growth.
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