HRM Presentation On

Group members:
Madiha Ahmed
Naveen Zuberi
Sanober Khero
Introduction

• Company has started its operations from

14th April, 2005

• Claims are the end product of the

insurance

• Company is manned by duly qualified

and experienced professionals

• 14 online branches across Pakistan

Departments

• Admin

• HR

• Motor/Marine

• Under Writing

• Claims & IT
HR Department

• In Saudi Pak company HR

department is head by HR manager

• HR department knows the ins and

outs of all the jobs

• Facilitates medical and dental

benefits

• Organize training programs

HR Manager

• What is the responsibility of HR

manager?

• Introduction of the HR manager of

the Saudi Pak Insurance Company
Hierarchy Model of the
Organization
Board of
Directors

CEO

Internal COO CFO

Audits

Admin HR Motor/ Underwriti Claims IT

Marine ng Property

RGM Hyderabad Multan RGM

Islamabad Lahore

Peshawar Rawalpindi Sialkot Faisalabad

Training and Development

• What kind of skills employees have

• Company explain why they train
employees
• Company creates interest and close
the employees to normal working
positions as possible
• According to company's policy
requirements
 Compensation Plans and
Performance Appraisals

What are Compensation Plans?

• Meet compliance requirements or motivate
employees to achieve organization’s
objectives
• These plans help maintain a successful
staff

What are Performance Appraisals?

• Important management responsibility
• Performance discussions by managers on
regular basis
• Effective Performance appraisal system
 Compensation Plans and
Performance Appraisals

Saudi Pak Insurance uses following

Compensation plans and
performance appraisals tools:

• Flexible Benefits
• Rewards and Promotions
• Incentives
• Performance based pay plan
• Skill based pay plan
 Compensation Plans and
Performance Appraisals

Flexible Benefits:
• Gratuity Funds:
– Reward for service provided
– Gratuity scheme for all confirmed
employees

• Provident Funds:
– Certain amount of salary is kept and
granted after retirement
– At the rate of 10% of basic salary
 Compensation Plans and
Performance Appraisals

Flexible Benefits:
• Group Life Insurance:
– For all confirmed employees
– Accident covers

• Hospitalization:
– Facility provided in recognized
hospitals
– Only provided when recommended by
company’s doctor
 Compensation Plans and
Performance Appraisals

Rewards and Promotions:

• Pay raises and recognitions
• Informs employees how useful they
are

Incentives:
• Incentives for employees according to
performance appraisal procedure of
the company
• Increments
 Compensation Plans and
Performance Appraisals

Performance based pay plan:

• Above average employees are rewarded

Skill based pay plan:

• Increments for employees who provide their
expertise to the organization to the fullest
Competition

• When Competition takes place?

• Four major Competitors:

4. Adamjee Insurance company Ltd.

– Mainly deals in fire, marine, motor and
Miscellaneous Insurance
– Other activities includes investment and money
management

6. EFU general Insurance company Ltd.

– Provides fire, marine and health insurances
– The company gave the leadership and manpower
to the industry
Competition

3. New Jubilee Life Insurance Company Ltd.

– Pakistan based and a subsidiary of AKFED
– Deals in six business segments; fire, marine,
motor, liability, miscellaneous, accident and
health insurances

4. Reliance Insurance Company Ltd.

– Deals in traditional and non-traditional covers
– Have 28 branches all over the country
CONCLUSION
Question and Answer Session