Use this URL to cite or link to this record in EThOS: https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.779709
Title: Erfolgsfaktoren zur Implementierung eines erfolgsabhängigen Vergütungssystems für Innendienstmitarbeiterinnen und Innendienstmitarbeiter von Lebensversicherungsunternehmen
Author: Aksoy, Alexander Neset
ISNI:       0000 0004 7965 4030
Awarding Body: Middlesex University/KMU Akademie & Management AG
Current Institution: Middlesex University
Date of Award: 2018
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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.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (D.B.A.) Qualification Level: Doctoral
EThOS ID: uk.bl.ethos.779709  DOI: Not available
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