Erfolgsfaktoren zur Implementierung eines erfolgsabhängigen Vergütungssystems für Innendienstmitarbeiterinnen und Innendienstmitarbeiter von Lebensversicherungsunternehmen

Aksoy, Alexander Neset (2018) Erfolgsfaktoren zur Implementierung eines erfolgsabhängigen Vergütungssystems für Innendienstmitarbeiterinnen und Innendienstmitarbeiter von Lebensversicherungsunternehmen. Other thesis, Middlesex University / KMU Akademie & Management AG.

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Abstract

The aim of this research is to identify the relevant factors for a successful implementation of a performance-based compensation in the life insurance industry in Germany. This investigation was conducted by means of qualitative social research. The target group of this examination were employees from various German life insurance companies whose task it was to examine and correct new life insurance applications and to approve contracts. Currently, it is not usual to pay performance-based compensation to the target group, although this type of compensation is common practice among sales representatives. This investigation studied which factors were key in ensuring the intended positive effects of performance-based compensation. The introduction of this type of compensation to the target group faced challenges due to its lack of experience with these types of salary systems. In addition the motivational process including incentives to motivate the target group were considered. Another objective of this research was to define appropriate performance goals for the target group. Individual as well as group performance goals were evaluated. For the target group performance goals involving the processing and editing of new applications, contract approvals as well as telephone consultations were found to be suitable. A composition of a various type of salary system was also examined. It was found that the successful implementation of a performance-based compensation is based on legal, economic and social factors. The results of this research showed that performance-based compensation can also have positive effects on the company as well as other employees outside of the target group. In addition to the positive effects, there were various risks found in the introduction of performance-based compensation, mainly involving the employees due to their inexperience with this type of salary system. In conclusion, the implementation of a performance-based compensation received wide approval from the life insurance companies and their employees. Due to the wide acceptance, open-mindedness and curiosity that this compensation received from the employees, a practical implementation would be recommended.

Item Type: Thesis (Other)
Research Areas: A. > Business School
B. > Theses
C. Collaborative Partners > KMU Akademie and Management AG
Item ID: 26676
Depositing User: Brigitte Joerg
Date Deposited: 29 May 2019 11:15
Last Modified: 29 May 2019 11:25
URI: https://eprints.mdx.ac.uk/id/eprint/26676

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