Reliance Life to hire 50,000 advisors
The company, part of Anil Ambani-led Reliance Group's financial services arm Reliance Capital, plans to hire 5,500full-time advisors by September 2012 itself as part of its efforts to improve customer services.
Reliance Life Insurance Company (RLIC) is planning to hire over 50,000 advisors this fiscal so that net employee addition remains positive, the company's President and Executive Director Malay Ghosh told reporters here.
The company is also focusing on hiring employees on fixed salary basis to lower the attrition rate.
"We are thinking to provide a minimum fixed salary to advisors, especially in semi-urban and rural areas, to retain the talent and provide better services," he said, after launching a post-sales customer support initiative by the
company, which would be first for any Indian insurer.
Ghosh said that Reliance Life has already hired around 7,000 advisors in April and May and the company expects the number to cross 50,000 persons in the entire fiscal, ending March 31, 2012.
The industry is facing high attrition rate due to a host of reasons such as slow growth and increased regulation, he said.
The company had a total of about 1.2 lakh advisors as on June 30, 2012, down over 1.5 lakh advisors in the year ago period.
More people left the organisation due to challenging environment and changes in regulations, Ghosh said, while adding that the the environment would continue
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