Exploratory Study on the Structure of Psychological Contract of China's Life Insurance Agent

Employee's psychological contract refers to the mutual obligation perceived by employees among the reciprocal relationships of employees and organization. It includes two facets: organization's obligations to employees and employee's obligations to organization. Based on the data collected from 250 China's life insurance agents, this paper explores the structure of the psychological contract and analyzes the inner relations using confirmatory factor analysis. It is more appropriate to describe the psychological contract of China's life insurance agents with a four-dimension model, which suggests that the two facets of "employee's obligation" and "organization's obligation" both include four dimensions: economic transaction obligation, institutional norm obligation, interpersonal relationships obligation and career development obligation. And they all present a parallel relationship in content. It should penetrate psychological contract management to specific human resource management of the life insurance industry and adopt comprehensive approach to construct a positive psychological contract so that a harmony employment relationship can be achieved between enterprises and employees.