The Practice of Human Resource Management

In early 90th, Ping An Insurance Company was the firstCompany launched Talent Pool Project targeting the
company to introduce senior personnel from abroad. Inlong term positive outcomes. The human resource plan
such way company managed to absorb advancedhas three major strategies each of which can be
human resource management strategies. Companyfurther subdivided into 3 human resource programs.
acknowledges well existence of the war onTalent pooling is realized through identification of the
experienced human capital. There is a distinct lack ofgap between existent labor force and company needs
well experienced and cross functional insurancethrough competence evaluation to be selected and
agents, certified risk managers, investment specialistsidentified by line managers. Instead of buying out skilled
and actuaries, IT specialists and top executivelabor force, Company chooses to develop own talent
management with international background.through job training, formal training provided by Ping An
As reported in the internal report on human resourceuniversity, and project assignment. When it comes to
strategy of Ping An Insurance Company, the majoritysuccession planning, the strategy involves objective
of companies currently rely on buying ready madeevaluation of employee performance, design of an
talent. As such, company selected strategy oppositeindividual carrier path, provision of mentoring support.
to that of competitors: Ping An human resourceAs such, Ping An employs primarily Chinese style
strategy is centered on labor development andhuman relations management, whereas the long term
retention. Short term goals include learning andstrategies are primarily focused on employee
development opportunities, culture value, and incentiveempowerment and training - the view brought in by top
salary system that includes defer payment, stockmanagement from abroad.
option and variable pay.