Caib 4 Chapter 3

Front 1

7 activities involved in human resource management:

Back 1

PSOT DMT

Planning, Selecting, Orientation, training, developing/rewarding employees, managing employee performance, termination

Front 2

Planning:

Back 2

Plan on growing or expanding:

- evaluate existing ability to generate sales and premium growth.

- Determine if existing staff are capable of producing the levels.

- Not enough staff, estimate needs as soon as possible

- Implement plan for hiring: including evaluations of skills, timelines, contingency plans, and job description.

Front 3

What are the three steps involved in the SELECTION process for new employees?

Back 3

1) Recruitment the process of building awareness that there is a position available, searching for applicants and attracting qualified people for the position.

2) Screening and interviewing decides which candidates are best qualified and should be offered the position. Must adhere to Canadian Human Rights Act (prohibits discrimination on: nationality or ethnicity, colour, religion, age, sex, sexual orientation, marital status, disability, and pardoned convictions)

3) Hiring the decision to hire is made - review information gathered during the interviewing process. Steps: formal offer is made (preferably in writing), have employees sign covenant not-to-compete contract or non-piracy clause. (Not-to-compete is harder to enforce)

Front 4

What are the four advantages to recruiting from within the brokerage?

Back 4

1) less expensive

2) length of vacancy shorter

3) removes guesswork in hiring

4) improves morale

5) reduces turnover

Front 5

What are the five components of the screening process?

Back 5

1) application form only information directly related to the position should appear on the application form.

2) résumé provides employment history, indicates how the candidate performed in the former positions.

3) employment interview primary function: to determine is candidate is suited for the position.

4) testing aptitude test, personality tests.

5) reference checks typically done by telephone, used to determine previous employment problems.

Front 6

What is the covenant not-to compete?

Back 6

Often a condition of employment with many brokerages that employees sign an agreement. If they leave the brokerage, they will not work in the insurance brokerage business for a specific amount of time.

Front 7

What is the non-piracy clause?

Back 7

Restrict brokers from taking accounts from previous employers, for a certain amount of time

Front 8

What is the primary and secondary purpose of an employment interview?

Back 8

Deciding which candidates are best qualified, and should be offered positions.

Exclude candidates that don’t possess minimum standards.

Front 9

What is the most critical component of the orientation process?

Back 9

That all new employees understand their brokerage and their role in it.

Eg: introduce your new hires to: the values, policies, procedures, processes of the brokerage, the staff, and office spacing

Eg: ensure new hires complete paperwork, including: benefits plan, review of position and performance expectations.

Front 10

What are the four kinds of training programs recommended for a brokerage?

Back 10

Long term success of your brokerage depends on the strength of its employees. The key to delivering quality service is strong performing, highly trained, highly motivated employees.

1) Quality Service Training: focus on problem solving

2) Sales Training: focus on listening, problem-solving, consultative, selling, building trust, and follow up.

3)Product and Service Knowledge: focus on technical competency.

4) Leadership training: focus on training others, coaching, motivating, empowering employees.

Front 11

What are the four elements of a training plan?

Back 11

1) who is to be trained?

2) what is the subject of training?

3) Why are we training?

4) How will training be evaluated?

Front 12

What are 3 training methodologies?

Back 12

1) on the job training: Employee under the guidance of an experienced employee. Downfall: experienced employee will be distracted by the new employee.

2) Classroom-based training: learn skills without pressures of the job environment.

3) Computer-based training: can control learning flow (learn at their own pace)

Front 13

What is a career path and how can it relate to an employees development within the brokerage?

(5. develop and reward employees)

Back 13

Develops employees so that they become the preferred candidates for more senior positions. Shows career progression and skills required to progress.