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Transcript of mission India consultancy best job provider every sector every field
Management Orientation School
Day6
Today’s Agenda
Test on previous day learning Understanding & calculating –months
Compensation M Compensation Right Ethical Practices and Market Conduct Activity
TEST YOUR LEARNING
1. …………………….2. …………………….3. ……………………..4. ………………………5. ……………………….
Understanding Man Months
Purpose, Process, Payoff
Purpose: To understand the impact of regular recruitment on building man- months and the business Process: Understand the impact regular hiring can have on business and standards achievement Payoff: 1. Regular and continuous recruitment by the ADM 2.Be able to increase the prospects of busting business goals at the end of the year
Man- months
It is the number of months an agent has worked in a year
Man- months = beginning of period + contracting – Terminations
YTD ( year to date) Man-months = Man-months of all previous months added together
AGENT MAN-MONTHS –A KEY DRIVER
Higher man-months indicate higher man power
Regular recruitment is necessary to ensure quality of A&As
This will ensure that business plans are met by ensuring good case rate and case size
AGENT MAN-MONTHS –A KEY DRIVER
Secret to increasing productivity and performance of year Team:
Secret is Recruit, regularly Quality Agents One Should start appointing from January as it makes a
difference at the end of the year.Beginning late, you will be hard-pressed for time you panic
and compromise on quality. This affects the survival rate agents
THREE- FOLD MANTRA TO MAXIMIZING MAN-MONTHS
Recruit Regularly
Recruit Quality
Retain More
If you recruit nothing else matters; if you don’t recruit nothing else matters !
BENEFITS OF HIGH MAN-MONTHS
Results of Maximizing Man-months from Quality & Consistent Recruitment
Higher AFYP
Higher Earnings
Higher Incentives
CHALLENGES IN BUILDING HIGHER MAN-MONTHS Lack of focus by ADM
Lack of Names
Late Recruitment
Drop outs
Low pass percentage
CHECK YOUR UNDERSTANDING
Solve the case studies given in the Participant Guide.
Man-months = Beginning of period + Contracting – Terminations
Year to Date Man-months = man-months of all previous montha added together
M G
PURPOSE, PROCESS, PAYOFF Purpose: To better understand the GPS for an Manager
Process: Identify The right different vectors which constitute the ADM GPA and learn how to calculate GPA
Payoff: Focus on the right parameters resulting in a profitable agency. Be able to strategize and ensure professional growth.
GOAL SHEETS
Associate
2013-2014
GPA Parameter welghtage
50%
15%
10%
10%
15%
GOAL SHEET
Parameter welghtage
80%
20%
MISSION INDIA CONSULTANCY
GPA GRID
Minimum P
2013-2014
MINIMUM PERFORMANCE STANDARDS (MPS) Quarterly of Less then 1.0 on both and. Of the is of 1 on either or
MFYP. He will not be a part of MPS The Development plan process to be initiated at Level
for. The development plan will be for 3 months Consequence management Process- List of falling info
MPS consecutively in two Quarterly evaluations. Bottom 10% in this list will be asked to leave
ADMS – CONFIRMATION CRITERIA For ADMs joining 1st of Jan 2013 onwards
Evaluation at end of Months 6
All ADMs with GPA of 1.0 or more on either QR or MFYP standard will be confirmed
ADMs not meeting the above criteria will be given a 3 month extension
o Consequence management process – List of ADMs not meeting above criteria in Month 9. Bottom 10% in this list asked to leave
AGENT ADVISOR COMPENSATION
ADM COMPENSATION
CHECK YOUR UNDERSTANDING
RIGHT ETHICAL PRACTICES AND MARKET CONDUCT
PURPOSE, PROCESS, PAYOFF Purpose: To understand the importance of right ethical
practices and market conduct of an agent in life insurance selling
Process: By understanding the role of an agent advisor in conducting right practices
Payoff: To sell life insurance products in an ethical to keep customer benefits as top priority
ACTIVITY :
Role-plan-Present career opportunity to Nominator and COI
THANK YOU