CAIB 4 Ch 3.pptx

CAIB 4: Chapter 3 Human Resources CAIB  CAIB 2 Section 1 Human Resources Management Introduction to Human Resources Management Definition: Identifying and selecting the best employees to achieve s...

CAIB 4: Chapter 3 Human Resources CAIB  CAIB 2 Section 1 Human Resources Management Introduction to Human Resources Management Definition: Identifying and selecting the best employees to achieve strategic goals Importance of good HR decisions Poor HR decisions lead to: Low morale Increased costs Poor client service Loss of clients CAIB Seven Key Activities in HR Management Planning Selecting Orienting Training Managing Developing Employee & Termination Performanc Rewarding e CAIB HR Planning Directly linked to strategic plan goals Evaluate existing capabilities vs. future needs Early estimation of HR needs to avoid rushed hiring CAIB  Key Elements of HR Planning Skills needed for new Hiring timeline Contingency plan for hires potential hiring challenges CAIB  Job Clearly outlines position qualifications Descriptions in HR Defines experience, Planning: knowledge, and behavior requirements Importance of Job Facilitates structured Descriptions recruitment CAIB Employee Selection Process Screening Recruitmen and Hiring t Interviewin g CAIB Recruitment: Internal vs. External Internal recruitment: Cost-effective Shorter vacancy period Increases morale External recruitment: Brings fresh talent and perspectives CAIB Screening and Interviewing Process Fair and consistent methods Federal and Provincial legislation on fair employment Application form, resume, interview, testing, reference checks CAIB Application and Resume Screening Application form: consistency in comparing candidates Resume: insight into past experience and performance CAIB  The Importanc Determines fit with the brokerage e of the Helps candidates assess the company May involve multiple interview stages Employme nt Interview CAIB  Testing Testing for skills, and personality, job knowledge Referen Reference checks: ce critical insight into past performance Checks CAIB The Final Step: REVIEW ALL OFFER LETTER OR Hiring INFORMATION EMPLOYMENT CONTRACT NON-PIRACY CLAUSES FOR INSURANCE BROKERAGES CAIB  Communicating The brokerage values and Orientati policies Setting performance on expectations early Process Performance review schedule CAIB The Focus on sales and service training Importance Ongoing development tied to the strategic plan Training as an investment of Training CAIB Crafting a Training Plan Who, What, Why, and How Service, sales, product knowledge, leadership training CAIB Quality Service Training Focus on problem-solving and client satisfaction Empowering employees to take action CAIB  Listening and consultative selling Building client Sales relationships Training Essentials Follow-up techniques CAIB Importance of Product and Service Knowledge CLIENTS EXPECT REFERRAL TECHNICAL OPPORTUNITIES COMPETENCE CAIB Leadership Development Leading, not just managing Empowering employees, coaching, and counseling CAIB Career Path Development Career paths for growth Promoting sales and relationship-building skills CAIB Employee Rewards and Incentives Align rewards with service quality, sales, and client satisfaction Compensation structure with incentives CAIB Managing Performance Effectively Balancing quantitative and qualitative measures Tracking progress and providing feedback CAIB Conducting Performance Reviews Ongoing feedback throughout the year Formal performance reviews CAIB The Termination Process Final performance review Importance of fair and clear communication CAIB Conclusion: The Impact of HR Management HR management as a strategic tool Long-term success linked to employee development CAIB