Published Paper Details:

Abstract The Indian insurance industry is more than 150 years old. This industry has witnessed many phases of the working from the days when there were many private sector companies initially and they moved to nationalization and again to the private sector. Being one of the segments of financial sector, it has in the recent past gone through a transformation and change including the passing of IRDA (Insurance Regulatory and Development Authority) Act 1999. Due to the IRDA act 1999 the insurance sector has been opened up, the monopoly of government companies has broken and many new private players have entered into the insurance sector and thus the sector has become highly competitive with full of challenges. This research paper focuses on compensation strategies of employees of general insurance companies. It helps to analyses present compensation policies on performance of employees in general insurance companies. The compensation packages which are include both monetary and non monetary items. This will help the organization to reduce the employee turnover. If the employee is satisfied with the job then it will leads to higher performance and productivity and reduces the labour turnover. Every organization wants to survive in the competition and for that purpose they try to satisfy the employees for a long time which will help the organization to achieve its objectives. This paper will focus on the relationship between employees pay packages and their performance with respect to general insurance companies.