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Mumbai, Jan. 10 Life Insurance Corporation of India plans to tie up with management institutes to offer its employees a special MBA programme.

“We will offer this postgraduate programme to officers who have been with LIC for more than 10 years. Since we find it difficult get people from the market, we plan to build on our existing talent,” said Mr K.B. Saha, Executive Director, LIC.

He said that retention of human resources was a big challenge for LIC. “We are a storehouse for trained manpower, but this has also become a weakness. With the government as owner, there are limitations,” Mr Saha said, speaking at an insurance summit.

“We cannot pay huge salaries and our incentives are mainly intangible and invisible,” he added.

In a recent employee engagement and satisfaction survey conducted in LIC, employees said that they were ‘happy with the business growth of the corporation’ and enjoyed the ‘social status’ attached to their being part of a brand like LIC.

More Stories on : Human Resources | Management | Life Insurance

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