ISSN: 2222-6990
Open access
The goal of this research is to investigate the impact of key human resource practises (training and development, performance appraisal, and compensation and benefits) on organisational performance in Malaysian insurance companies. The industry was chosen for the research because it is important in the global economy and contributes to a country's GDP. As a result, organisational performance is critical for insurance companies to survive in today's competitive market. The study probes into the relationship between training and development, performance appraisal, compensation and benefits, and organisational performance in particular. The research was conducted using the positivism paradigm associated with quantitative research. A descriptive and correlational study clarified the hypotheses and provided an answer to the research question. A total of 357 employees were chosen to participate in this study. To analyse findings in the relationship between independent and dependent variables, the Statistical Package for the Social Sciences (SPSS) version 20.0 is used. The findings indicate a significant relationship between training and development, performance evaluation, and compensation and benefits and organisational performance. This research adds to the Human Resource Management literature and practitioners, particularly in the insurance industry. Future research can focus on mediating variables that can help improve those relationships.
Danlami, A. S. (2012). Strategic human resource management and organizational
performance in the Nigerian manufacturing sector: An empirical investigation. Business Intelligence Journal.
Abdul Kadir, A. A. (2019). The effect of compensation and benefits towards
employee performance. EAI, 3. doi:10.4108/eai.30-7-2019.2287551
Anwar, G., & Abdullah, N. N. (2021). The impact of Human resource management practice
on Organizational performance. International journal of Engineering, Business and Management (IJEBM), 5.
Afroz, N. N. (2018). Effects of training on employee performance : A study on banking sector,
Tangail Bangladesh.
Al Khajeh, E. H. (2018). Impact of leadership styles on organizational performance. Journal of
Human Resources Management Research, 1-10.
Al-Jedaia, Y., & Mehrez, A. (2020). The effect of performance appraisal on job performance
in governmental sector: The mediating role of motivation. Management Science Letters, 2077-2088.
Bagga, T., & Srivastava, S. (2014). SHRM: alignment of HR function with business strategy.
Strategic HR Review, Volume 13, Issue 4/5.
Bao, H. J., Cheng, H. K., Vejayaratnam, N., Anathuri, A., & Bakar, A. A. (2021). A study on
human resource function: recruitment, training and development, performance appraisal and compensation. Journal of Global Business and Social Entrepreneurship (GBSE).
Bekele, A. Z., Shigutu, A. D., & Tensay, A. T. (2014). The Effect of Employees’ Perception of
Performance Appraisal on Their Work Outcomes. International Journal of Management and Commerce Innovations.
Chaudhry, N. I. (2017). Impact of working environment and training & development on
organization performance through mediating role of employee engagement and job satisfaction. European Journal of Training and Development Studies, 33-48.
Demeke, B. (2020). Concept & Perspectives of Organizational Performance. International
Journal of Academic Multidisciplinary Research (IJAMR)
Ismail, F. A. A. (2019). The Effect of Compensation and Benefits Towards Employee
Performance.
Hanaysha, J., & Tahir, P. R. (2016). Examining the effects of employee empowerment,
teamwork, and employee training on job satisfaction.
Hayati, I., & Sari, A. M. (2019, March). The Effect Of Appraisal Performance On Employee
Performance. In Multi-Disciplinary International Conference University Of Asahan (No. 1)
Kadir, A. A. (2019). The Effect of Compensation and Benefits Towards Employee
Performance. European Alliance for Innovation, 30-31.
Karim, M. M., Choudhury, M. M., & Latif, W. B. (2019). The impact of training and development on employees’ performance: an analysis of quantitative data. Noble International Journal of Business and Management Research, 3(2), 25-33.
Khan, Y., & Batool, S. (2016). Perceived relationship between training and development
practicesand employee performance at commercial banking Peshawar. JOURNAL OF MANAGEMENT RESEARCH (JMR).
Kimanthi, D. (2019). Investigation of the Impact of Training and Development on
Employee Performance. The strategic Journal of Business and Change Management.
Malaysia, Z. (2021). Linkedin. Retrieved from https://my.linkedin.com/showcase/zurich-
malaysia
Maley, J. (2014). Hybrid purposes of performance appraisal in a crisis.
Maryville University, A. (2021). Importance of training and development for employees.
Retrieved November 17, 2021, from Maryville.edu: https://online.maryville.edu/blog/importance-of-training-and-development/
Mihardjo, L. W., Jermsittiparsert, K., Ahmed, U., Chankoson, T., & Iqbal Hussain, H. (2020).
Impact of key HR practices (human capital, training and rewards) on service recovery performance with mediating role of employee commitment of the Takaful industry of the Southeast Asian region. Education+ Training, 63(1), 1-21.
Pillaiyan, M. K. (2015). Organizational performance.
Kumar, R. M. (2021). Zurich Insurance Employee Performance Currently. (P. Thanarajah, Interviewer)
Rida, A., & Shah, F. (2015). Impact of training on employee performance ( Banking Sector
Karachi ).
Siddiqi, T. (2018). Impact of work environment, compensation and motivation on the
performance of employees in the insurance companies of Bangladesh. South East Asia Journal of Contemporary Business, Economics and Law,.
Singh, B. J., & Khanduja, D. (2012). Risk management in complex changeovers through
CFMEA: an empirical investigation. International Journal of Industrial and Systems Engineering, 470-494.
Sling. (2020). Strategic Human Resource Management: What Is It And Why Is It Important?
Retrieved September 13, 2021, from Sling: https://getsling.com/blog/strategic-human-resource-management/
Suri, D. S. (2016). Impact of employee compensation on organization effectiveness.
International Journal of Research in Management.
Wilkinson, M. (2021). Practicing Human Resources Management. Retrieved November
20, 2021, from SHRM: https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/practicingstrategichumanresources.aspx
Yahya, T. F. (2013). The influence of human resource management practices and career
strategy on career satisfaction of insurance agents. International Journal of Business and Society.
Zhu, M. L. (2018). Performance evaluation of the insurance. AIP Conference Proceedings
1955, 040002 (2018).
Zurich. (2021). Zurich Insurance Group Malaysia. Retrieved September 20, 2021, from Zurich
Insurance Group Malaysia: https://www.zurich.com.my/en/careers/become-a-general-insurance-agent
In-Text Citation: (Hansaram et al., 2023)
To Cite this Article: Hansaram, S. K. H. R., Pa’Wan, F., Selladorall, S., Noor, R. M., Seong, A. W., Mun, P. S., & Thangarajah, P. (2023). The Impact of Training and Development, Performance Appraisal, and Compensation and Benefits on Organizational Performance in Insurance Company in Malaysia. International Journal of Academic Research in Business and Social Sciences, 13(4), 1670 – 1684.
Copyright: © 2023 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non0-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode