Determining the Values of Succession Planning Culture in the Iranian Insurance Industry

This study aims to identify and explain values of supportive cultural succession planning (SCSP) in the Iran insurance industry.

This study was a mixed method research with the descriptive-exploratory approach. The research population in the qualitative study were the academic staff and insurance experts and in quantitative study were employees of the insurers' central branches respectively. About 13 persons took part in the qualitative study and 284 persons participated in the quantitative study  using stratified random sampling method. Semistructured interviews were conducted with experts in the first phase of the study. A researcher made questionnaire including 43 questions was used in the second phase of the study. The questionnaire validity was tested using face validity, and its reliability was tested using the Cronbach's alpha (0.878). The qualitative data was analysed using content analysis method and the quantitative data was analysed using confirmatory factor analysis in the Amos 21.

The values of SCSP are consisted of organizational, professional and individual values. Moreover, among cultural values, professional and organizational values demonstrated the most ( i.e. loading factor of 0.715) and the least (i.e. loading factor of 0.505) support level for the model.

It is suggested that all organizational values ​​presented in this study be included in the value statement of the insurance industry and emphasis on adherence to them in insurance companies. In the field of professional values, it is suggested to use appropriate motivators to revive the mentioned values ​​among the employees and managers of insurance companies and apply it in organizational processes. In the case of individual values, it is also suggested that the individual values ​​mentioned in this study be considered as a basis for evaluating the performance of employees of insurance companies and compensation plans, rewards and incentives, etc. based on adherence to these values.