hiring for back office support functions like underwriting, etc, may not have seen such a constant demand as the business pie has constantly remained the same, he said. "If the FDI is raised we see demand in sales, technology and operations increase considerably as with more money the insurers would look to expand and be ready to infuse more capital in human resources as well," he pointed out.
The hiring has improved moderately by around 8-10 per cent compared to the previous year, said Aditya Narayan Mishra, President - Staffing and Director – Marketing, Randstad India. However, there is a higher demand for sales professionals and customer service representatives as companies are looking to expand into tier-II and -III cities, he said. "This sector witnessed increments in the range of 8-12 per cent, which were correlated to inflation. We may see higher incentives being doled out as a means to improve performance of the sales teams," he added. Max Bupa CEO Manasije Mishra said higher FDI would lead to expansion of distribution and deepen market penetration.
"Insurance is a people intensive business and as the sector grows, more employmentwill be generated. There will be increase in demand for people in customer service, sales, agents and other core functions of insurance," he added. TeamLease Services Senior Vice President Surabhi Mathur-Gandhi says the hiring is better than last year. "There doesn't seem to be any major noticeable change, in fact we may see a drop this year of 5-10 per cent," she said adding that hiring will continue on the context of attrition. Echoing a similar view, Rajendra Ghag, HDFC Life Senior Executive Vice President and Chief Human Resource Officer, said hiring will remain stable this year as well. "Attrition is very high at sales executive level and hiring is mainly done as replacement," he mentioned.