Benefits and challenges of training at starlifw assurance company limited,Cape Coast

Abstract

Assurance Company Limited is one of Ghana’s premier life insurance companies, and has contributed immensely to the growth of the insurance industry in Cape Coast. The company, like most insurance companies, has a training policy as prescribed by their Human Resource Department. However, the availability of the policy alone does not imply that the company’s training practices are without challenges. The study therefore sought to investigate the challenges Starlife Assurance Company Limited is facing in implementing its training programmes and prescribe possible solutions, as well as to find out the benefits the organization is yielding from its training programmes. This research adopted the case study design. Data was collected through the use of questionnaires. A total of 70 sales persons which was made up of 66 sales executives who had ever undergone training programmes organized by the organisation, and 4 sales managers were selected for the study. Software Package for Service Solution (SPSS) was used to analyse the data collected. The results of the research were expressed in means and frequencies presented in tabular format. The study revealed that Starlife Assurance Company Limited has a training policy which is generally adhered to in terms of training methods. It also revealed that employees benefited in many ways from training progammes organized by the company. With regards to the challenges, it was also realised that sales managers faced a number of them.