Research On Human Resource Allocation Efficiency And Evaluation Of Chinese Life Insurance Companies

With the rapid development and changes of international and domestic financial environment, the insurance industry in our country is in a critical development period. Because of comprehensive opening of insurance industry of our country in 2004, a lot of insurance companies with foreign investment enter China and some domestic insurance companies have been founded owing to the threshold of market has decreased. Chinese insurance companies must reply the risks and challenges of international and domestic finance market actively and make adjustment in strategy and resource allocation.As the most important resources allocation, human resource allocation play a significant role on strategy adjustment of insurance companies.This paper selected 30 life insurance companies as the research sample and designed innovative index system based on current situation of human resource allocation of life insurance companies. Then the paper put forward human resource allocation efficiency evaluation system by introducing the principle and method of DEA model and Malmquist index model. At last, the paper make horizontal and vertical analysis on human resource allocation efficiency of life insurance companies from 2005 to 2014, then analyze the slack variable. Finally the paper find out the main cause of human resource allocation inefficiency andpropose corresponding countermeasures and suggestions.We can know about the human resource allocation efficiency of Chinese life insurance companies is in a higher level, but not completely efficient by analyzing it from 2005 to 2014. The main reasons as follows: firstly, the scale efficiency is in a lower level. The life insurance companies should enlarge advanced management personnel; secondly, the redundancy degree of marketing personnel is serious, reflecting that the supply of marketing personnel surpass the demand of it, which will bring much more burden on the cost of life insurance companies; thirdly, there is redundancy in human resource turnover and the redundancy rate is in a higher level; fourthly, the number of personnel who has the title of a technical post is too much and beyond demand; fifthly, the human resource allocation efficiency has fallen behind, that is to say, the management level of human resource allocation is low.The innovation points of this paper has three aspects. First of all, this paper make a research on human resource allocation efficiency of life insurance companies since China join WTO and similar research is rare. The next, the paper put forward innovative index system, which includes input and output aspects: human resource scale and human resource structure, profitability,business growth ability and developmental innovative ability, which make the analysis of problems more comprehensive. Finally, the paper make horizontal and vertical analysis on human resource allocation efficiency of life insurance companies by using DEA model and Malmquist index model, which could findout the important reason of human resource allocation inefficiency comprehensively, and could put forward the countermeasures and suggestions which have important practical significance.