Page 175 - DCOM205_ACCOUNTING_FOR_COMPANIES_II

Accounting for Companies – II

notes
Gross Loss Res./Surpl. 50% 52% 120% 90%
Net Loss Res./Surpl. 50% 52% 120% 60%
Ceded balances/Surplus 0% 0% 0% 30%

Task Discuss the concept of Insurance accounting.



Case Study kelly it resources implements successful solution to
reduce customer fill times, streamline operations

elly IT Resources developed a streamlined quality program to assist a large, global
insurance company in more efficiently filling Information Technology positions
Kand to ensure retention of the company’s IT staff, including temporary, temp-to-
hire and direct hire employees.
the challenge
The insurance company was in need of a staffing vendor capable of developing and
implementing a plan to reduce the company’s time in staffing its Information Technology
positions. The company was experiencing a high time-to-fill rate of 27-plus days and was
seeking a solution to help streamline recruiting, retention and overall temporary staffing
operations.
the solution
Kelly IT Resources (KITR), a specialty service of Kelly Services, was selected to develop
a solution to the challenges faced by the insurance company. KITR began by conducting
a comprehensive analysis to identify the firm’s needs, and then developed a formalised
quality program to ensure employee performance and overall operational success. The
program featured:
l A dedicated onsite KITR presence
l A tracking program, which provides monthly assessments of all KITR employees in
areas of job knowledge, quality commitments, organisational skills and leadership
skills

l Monthly meetings with management team
l Monthly meeting with employees
l Weekly updates to the company regarding overall status
To enhance retention at the firm, KITR developed a comprehensive new employee
orientation, highlighting company benefits and training overviews. KITR also implemented
a referral bonus program as well as a recognition and reward program, featuring:
l Monthly assignment reviews with each employee and the customer

l Employee recognition initiatives based on project expectations
l Employee career opportunity updates
l Online training incentives Contd...

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