Job Purpose
The purpose of this job is ensure achievement of business targets and enhancement of profitability of the assigned area by providing effective leadership, planning resources, monitoring people performance & market changes & ensuring timely operations support to ensure smooth functioning.
It also includes distribution building, retail development and recruitment of BDM, Agency Partner and Advisors.
Job Context & Major Challenges
Job Context: The purpose of this job is ensure achievement of business targets and enhancement of profitability of the assigned area by providing effective leadership, planning resources, monitoring people performance & market changes & ensuring timely operations support to ensure smooth functioning.
It also includes distribution building, retail development and recruitment of BDM, Agency Partner and Advisors.
Job Challenges:
- Building a robust variable distribution and high productivity network with high penetration leveraging on the Agency Partner model.
- Short gestation period to hire, develop and deliver the new business in the new vertical because of continuous business demands.
- Building involvement & engagement of the leader force that are not on the payrolls; is by itself a challenging & difficult prospect both from acquisition as well as activation perspective.
- Scarcity of skilled/right fit man power to fit the module of business.
- Managing expectations of high performers: high performers’ expectation rises every year and to satisfy it through innovative means is a big challenge.
- Managing Attrition at the frontline due to competition
Key Result Areas
KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)
KRA1 Ensure budget capacitization of BDM to induct them to the business work flows. 1. Hire qualified manpower of BDMs so that 100% FYP capacity of manpower is maintained & utilized at all times.
- Assist & guide the BDMs in proper recruitment of Agency Partner and Advisors.
- Monitor the status of the budgeted FYP capacity of BDMs vis-à-vis the actual strength on board on a regular basis.
- Ensure that the KPIs & targets of BDMs are properly communicated & understood.
- Ensuing that the goal sheet of the Agency Partner has properly been communicated and explained by their BDMs.
- Carry out goal setting of each individual BDM for the month, quarter & year.
- Monitor & review the performance of BDMs on predefined parameters
(FYP/NOP/NAAC/Activisation /Recruitment) & take timely corrective actions
KRA2 Ensure training & development of the team to enhance performance. 1. Collaborate with the Sales Training team to ensure that workforce is timely trained on products & processes as per the training plan.
- Ensuring attendance of trained advisor recruits in IRDA exams.
- Conduct extensive training on recruitment and selling skills to enhance productivity of BDMs
KRA3 Achievement of Business Targets as set through and with the Team by meeting the functional goals set. 1. Monitor the performance of the BDMs on the predefined parameters (FYP/NOP/NAAC/Activization/Persistency/Recruitment of mentors & advisors)
- Ensure continuous acquisition of advisors by their team of BDMSs on a regular basis.
- Ensure that communication on goal sheets, contests, payouts etc are rolled out to advisors by BDMs and same is understood by them as well.
- Ensure through continual communication & reviews that majority of the work force achieves their goal sheets & moves up the career ladder.
- Drive benchmarks & motivate BDMSs and mentors to achieve their goal sheet, seek promotion and earn incentives.
KRA4 Track attrition and persistency to achieve business health for the territory 1. Monitor attrition of the sales team on a regular basis & ensure corrective actions are taken to arrest the same.
- Ensure a high percentile of modal premium through analysis and product mix
KRA5 Identify business opportunities through market intelligence 1. Gain market intelligence & put in place strategies to FYP potential market.
- Ensure recruitment of advisors in the areas having unexploited potential
KRA6 Relationship Management 1. Partner with other departments of BSLI to ensure sales support.
- Manage and resolve escalations.
KRA7 Team Management 1. Ensure through continuous on the job training, skill enhancement of team
- Mentor, supervise and coach the team.
- Provide for on the job as well as classroom training for skill enhancement
- Ensure periodic job rotation to give a higher exposure to the team members on all aspects.
