Intense competition and globalization put pressures on the corporate to cut the costs, resulting in frequent layoffs and downsizing, diminishing employee loyalty, absence of job security and increasing competition in the hunt for talent etc. Employee Retention Strategies helps organizations provide effective employee communication to improve commitment and enhance workforce support for key corporate initiatives. The insurance sector in India is rising rapidly to bring in growth and employment opportunities. Insurance companies are basically human intensive, and human resources act as an undoubted differentiator. It has been of great concern for many managers, that many sales representatives who join the industry and become successful only 5% remain in the industry and become successful sales representatives. Out of 5% only 2% become high achievers in the industry. Employee turnover is a larger problem currently faced by insurance companies. The main objective of the study is to identify the factors that can help in retaining the Financial Planning Advisors and reduce their turnover in AVIVA. The research concluded with recommendations like Financial Planning Advisors will be attracted by giving them good commission, proper counseling, and informal mentoring programs will help them to reduce the turnover problem.
Employee Retention Strategies, Financial Planning Advisors, Insurance sector
