Abstract:
In today’s context, organizations consider human capital as their main asset for
unbreakable success. However, it is noteworthy that if employees are not motivated
with their tasks and career in the organization, they fail to maintain employee
behaviour towards success within the organization. Lack of motivation is one of
the major reasons to create high employee turnover in the Life Insurance sector in
Sri Lanka. At present, the life insurance sector faces the problem of mobilizing
employees internally towards the motivation in their role of work. Considering the
nature of the issue, the main objective of this study is to examine the effect of
Internal Mobility on the Bancassurance InsuranceRelationship Officer’s motivation
in the life insurance sector in the Colombo district. Internal Mobility is considered
as an independent variable which is addressed by three dimensions notably
Promotion, Job rotation, and Demotion whereas Motivation is considered as the
dependent variable. The study was taken up supporting literature from research
articles, journals, and books related to the study. Life insurance companies, which
developed Bancassurance business with the commercial banks in Colombo District
are considered as population. Thereby the target population considered was 129
Bank Assurance Insurance Relationship Officers of LOLC Life Insurance Ltd,
Ceylinco Life Insurance Ltd, AIA Insurance Lanka PLC, Union Assurance PLC,
and primary data collection was carried out using standard questionnaires. The
results were analyzed usingthe SPSS 21 statistical package and applied tests such
as reliability testing, descriptive analysis, correlation coefficient, and regression
analysis. Cronbach’s alpha values of eachitem were above 0.7. Multiple regression
found on motivation explained by internal mobility and the overall model was
significant. The researcher tested three hypotheses through Simple Regression and
Correlation Analysis. According to the tested data, it revealed that promotions have
a significant positive effect on the motivation, at the sametime the Job rotation has
a significant positive effect on motivation. Further, demotion had a significant
negative effect on motivation. Finally, the researcher mainly recommended using
present findings for human resource management in the Life insurance sector when
forming their strategy, develop policies and procedures for the internal mobilizing
process.
