The exploration of segmental interchangeability among the brokers and salespersons of the finance and insurance sector

Abstract

THE AIM OF THE PAPER

Relying on a sample of 1000 brokers and salesperson employed in the finance and insurance sector, the study aims to demonstrate that the personality of those working in such fields as banking, insurance, building societies, and financial consultancy differ according to the shortened version of the California Psychological Inventory (Hypothesis H1).

METHODOLOGY

The inquiry primarily focuses on the finance sector, especially brokers or salespersons employed by banks, insurance companies, building societies and financial consultancy firms. The study utilized an Internet-based on-line questionnaire, which was filled in anonymously. The sample was gathered by one of the non-probability or non-random methods, the snowball approach. The obtained data was analysed and evaluated by the help of the SPSS program making a discriminant analysis possible as well.

MOST IMSPORTANT RESULTS

The discriminant analysis performed at the sample of brokers or salespersons working in the segment of the financial sector under inquiry facilitated the construction of discriminant functions. The given functions are capable of identifying with a greater than random probability the sector in which the respective broker or salesperson works. The findings also indicate that the differences in the personality of brokers and sales personnel working in the banking and insurance sector identified by the shortened version of the California Psychological Inventory are not significant enough to prevent them from working in other sectors.

RECOMMENDATIONS

Since the questionnaires reveal no significant difference between the personalities of brokers and salespersons working throughout the given segments, I suggests that HR managers, candidate selection experts, and company decision makers should consider hiring those applicants, who have already proven themselves in another segment of the finance and insurance sector (subject to meeting other hiring requirements).