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and
unemployment
for
the
workers
and
their
families.
Labor welfare entails all those activities of employer which are directed towards
providing the employees with certain facilities and services in addition to wages or
salaries.
1.1.1 Welfare:
Welfare is the provision and maintenance of the conditions of life for individuals by
the community.Welfare has a positive and negative aspect. Negative welfare is the
provision by the state or other institutions of a safety net or the distribution of
benefits according to some criteria; so-called positive welfare is the provision of
opportunities for people to help themselves. This contrast lies behind foreign-aid
strategies which concentrate on providing skills or seed capital rather than food
parcels, for example. The concept of positive and negative welfare is related to the
concepts of positive and negative freedom.
Marxists support both positive and negative welfare, but recognise that the market
inevitably generates inequality and a class of people inevitably the recipients of
welfare, who have nothing to sell but their labour power, alongside a class of people
who live off the proceeds of exploitation, invariably the providers of welfare. Only
by bringing the means of production under thorough going proletarian democracy
can the very need for welfare be abolished.
1.1.2 Employee and Employee Welfare
Employee sector addresses multidimensional socio-economic aspects affecting
employee welfare, productivity, raising living standard of labour force and social
2
security. To raise earnings of work force and achieve higher productivity, skill
upgradation through suitable training is of utmost importance. Manpower
development to provide adequate employee force of appropriate skills and quality
to different sectors essential for rapid socio-economic development and
elimination of the mismatch between skills required and skills available has been a
major focus of human resource development activities during the last fifty years.
Employment generation in all the productive sectors is one of the basic objectives.
In this context, providing enabling environment for self employment has received
special attention both in urban and rural areas. Objective is also to eliminate
bonded labour, employment of children and women in hazardous industries, and
minimize occupational health hazards. During the Ninth Plan period, elimination
of such undesirable practices as child labour, bonded labour, ensuring workers
safety and social security, looking after employee welfare and providing of the
necessary support measures for sorting out problem relating to employment of
both men and women workers in different sectors will receive priority attention. It
is also envisaged that the employment exchanges will be reoriented so that they
become the source of employee related information, employment opportunities
and provide counseling and guidance to employment seekers.
1.1.4 Approaches
The issue of employee welfare may be studied from different angles, such as:
The location, where these amenities are provided, within and outside the industrial
undertakings; The nature of amenities such as those concerned conditions of
employment and The welfare activities termed as statutory, voluntary and
mutual. The agencies which provide living conditions of work people; these
amenities.On the basis of location of welfare activities, employee welfare work has
been
classified
by
Broughton
in
two
specific
categories,
namely,
(a)intramural(b)extra-mural
(a)Intra-mural activities: consist of such welfare schemes provided within the
factories as medical facilities, provision of crches, and canteens, supply of
drinking water, washing and bathing facilities, provision of safety measures such
as fencing and covering of machines, good lay-out of machinery and plant,
sufficient lighting, first-aid appliances; activities relating to improving conditions
of employment, recruitment and discipline and provision of provident fund and
gratuity, maternity benefits, etc.
(b)Extra-mural activities: cover the services and facilities provided outside the
factory such as, housing accommodation, indoor and outdoor recreation facilities,
amusement and sports, educational facilities for adults and children, provision of
libraries and reading rooms.
In the welfare activities concerned with conditions of employment are included
activities for the management of problems arising out of hours of work, wages,
holidays with pay, rest intervals, sanitation, continuity of employment, control
5
over the recruitment of female, while all such schemes of benefits as co-operative
societies, legal and medical aid, and housing are included in the category of
activities concerned with conditions of employees.
1.1.5 Scope of employee welfare work
It is somewhat difficult to accurately lay down the scope of employee welfare
work, especially because of the fact that class is composed of dynamic individuals
with complex needs. In a world of changing values, where ideologies are rapidly
undergoing transformation, rigid statements about the field of employee welfare
need to be revised. Employee welfare work is increasing with the growing
knowledge and experience of techniques. An able welfare officer would, therefore,
include in his welfare program the activities that would be conducive to the wellbeing of the worker and his family.
The following list, which is by no means exhaustive, gives the items under which
welfare work should be conducted inside and outside the work place:
1. Conditions of work environment:
The workshop sanitation and cleanliness, humidity, ventilation, lighting,
elimination of dust, smoke, fumes and gases, convenience and comfort during
work, operative postures, sitting arrangements etc; distribution of work hours and
provision for rest times, breaks and workmens safety measures.
2. Workers health services.
These should include factory health centre; medical examination of workers,
factory dispensary and clinic for general treatment; infant welfare; womens
general education; workers recreation facilities; education, etc;
3. Employee welfare program:
These should cover factory council consisting of representatives of employers;
social welfare departments; interview and vocational testing; employment, followup, research bureau; workmens arbitration council.
6
Welfare of Employees
Many initiatives are taken for the benefit of workers through the plans of a number
of Intensive Sectors. These are not discussed here because they fall under the
purview of respective sectoral programmes of the plan.
workers to change their cloth in the factory area and office premises.
Adequate lockers are also provided to the workers to keep their clothes and
belongings.
10. Rest rooms: Adequate numbers of restrooms are provided to the workers
with provisions of water supply, wash basins, toilets, bathrooms, etc.
2. Non Statutory Schemes
Many non statutory schemes welfare schemes may include the following
schemes:
1. Personal Health Care (Regular medical check-ups): Some of the
companies provide the facility for extensive health check-up
2. Flexi-time: The main objective of the flextime policy is to provide
opportunity to employees to work with flexible working schedules. Flexible
work schedules are initiated by employees and approved by management to
meet business commitments while supporting employee personal life needs
3. Employee Assistance Programs: Various assistant programs are arranged
like external counseling service so that employees or members of their
immediate family can get counseling on various matters.
4. Harassment Policy: To protect an employee from harassments of any kind,
guidelines are provided for proper action and also for protecting the
aggrieved employee.
5. Maternity & Adoption Leave Employees can avail maternity or adoption
leaves. Paternity leave policies have also been introduced by various
companies.
6. Medi-claim Insurance Scheme: This insurance scheme provides adequate
insurance coverage of employees for expenses related to hospitalization due
to illness, disease or injury or pregnancy.
7. Employee Referral Scheme: In several companies employee referral
scheme is implemented to encourage employees to refer friends and
relatives for employment in the organization.
The very logic behind providing welfare schemes is to create efficient, healthy, loyal
and satisfied labor force for the organization. The purpose of providing such
10
facilities is to make their work life better and also to raise their standard of living.
The important benefits of welfare measures can be summarized as follows:
They provide better physical and mental health to workers and thus promote a
healthy work environment
Facilities like housing schemes, medical benefits, and education and recreation
facilities for workers families help in raising their standards of living. This makes
workers to pay more attention towards work and thus increases their productivity.
Employers get stable labor force by providing welfare facilities. Workers take
active interest in their jobs and work with a feeling of involvement and participation.
provides hire charges for two buses for each trip at units and total buses for the trips
at C.O& CMO.
12
13
1.2.1 Offerings
Axis Bank offers a range of products and services to its customers, which include various
deposit schemes, loan schemes, services for the NRIs, international banking etc.
1.2.2 Deposit Schemes
Following deposit schemes are offered by Axis Bank:
Axis Shelter
Axis Car
Axis Trader
Education Loan
Axis Cash
Axis Rent
Axis Mortgage
Axis Securities
Axis Real Estate
Axis Nari Shakti
Axis Shopper
Axis Pensioner
Axis Emd Loan
Axis Swabhiman - Reverse Mortgage Loan Scheme for Senior Citizen
Interest Subsidy Scheme for Housing the Urban Poor (ISHUP)
14
Deposit Schemes
Foreign Currency Non Resident (FCNR-B) Deposits
Resident Foreign Currency (RFC) Deposits
Non Resident External (NRE) Deposits
Non Resident Ordinary (NRO) Deposits
Remittance to India
Loans to NRIs
Against Deposits
NRI Home Loans
16
17
REVIEWS OF LITERATURE
A literature review is a body of text that aims to review the critical points of
current knowledge on a particular topic. Literature reviews are secondary sources, and as
such, do not report any new or original experimental work. Reviews covering some of the
areas related to employee welfare are mentioned below:
Davis and Gibson (2006) described a process through which organizations might seek to
implement interventions relating to employee wellbeing. Emphasizes the importance of a
comprehensive needs assessment both in obtaining the breadth of information needed to
design appropriate interventions and also in providing baseline information against which
to evaluate programme effectiveness.. Finally, provides guidance on programme
implementation and evaluation, and discusses some of the advantages and disadvantages
of different approaches to tertiary welfare provision.
Osterman (2009) revealed that High Performance Work Organizations (HPWOs) took
root in the early 1990s but then faced an environment of organizational turmoil and
restructuring. This paper, drawing on a second-round survey of employers that replicated
and extended a 1992 survey, addressed two questions: whether HPWO practices
continued to spread, and whether their productivity and quality gains redounded to
employees' benefit. The results show that HPWO practices continued to diffuse at a rapid
rate between the 1992 and 1997 survey dates, although more slowly for self-managed
teams than for other practices. With regard to the second question, however, the author
found that adoption of HPWO practices in 1992 was associated with increased layoff
rates in subsequent years and no compensation gains--patterns that appear to result
largely because HPWO practices are linked to employment reorganization, such as
reductions in contingent and managerial employment.
Kasza (2010) proposed the concept of welfare regimes has become a centerpiece of
comparative welfare research. Most criticism of the concept thus far has focused on
whether this or that country fits a particular regime type or deserves its own regime
18
category. This article offered a more radical critique of this concept. It argued that most
countries practice a disjointed set of welfare policies due to the following typical features
of welfare policymaking: (1) the cumulative nature of welfare policies, (2) the diverse
histories of policies in different welfare fields, (3) the involvement of different sets of
policy actors, (4) variations in the policymaking process. It concludes that few national
welfare systems are likely to exhibit the internal consistency necessary to validate the
regime concept, and that policy-specific comparisons may be a more promising avenue
for comparative research.
Fong, Brian et al. (2012) processed to make a company more efficient and cost effective
by eliminating nonvalue-added work processes and people. Unfortunately, it has become
a common business practice in todays firms in order to stay competitive and strong. The
practice, however, can be disastrous if the company does not treat the human aspect of
the process. During and after downsizing the workforce may suffer from what is known
as the survivor syndrome. This article addresses the work overload felt by employees in
the aftermath of a downsizing. A firms effective management of downsizing is intricately
related to the possible strategies of alleviating work overload and addressing employees
concerns. This relationship is especially important between the organisation and the
employees during and after the change. The success or failure of downsizing relies on the
remaining workforce.
White (2012) assessed the impact of unions on management practices to reduce labour
costs, implement high-performance work systems, and make employee welfare
provisions using British national survey data. Relative to non-union workplaces, those
with unions are found to have practices which are consistent with mutual gains
outcomes. Cooperative unionism and employee welfare.
Benko
(2012) examined that Employee Benefits Law was complex and often
misunderstood. This article explained the regulatory systems developed by Congress over
nearly a century. Initially Congress created tax preferences to encourage employers to
offer retirement and healthcare benefits to employees. Several decades later, Congress
19
enacted the Employee Retirement Income Security Act of 1974 ("ERISA"), providing
substantive regulation under labor law and tax law. Since ERISA, there have been about
three dozen public laws which have changed the systems. Not surprisingly, confusion has
accompanied the regular modifications to a very technical area of law. Nevertheless, the
multitude of laws can be simplified. This was possible with an understanding of how the
parts combine to form cohesive regulatory systems. In short, Congress overlapped tax
law and labor law to create the bounds of the regulatory systems for employer-provided
retirement and healthcare benefits. Within these systems, two types of rules were
employed: incentives and sanctions. This article explained how all of the pieces fit
together to promote retirement and healthcare security, and suggests that a systematic
method of analysis may be the best approach for creating the benefits law of tomorrow.
Habeman (2013) described the significant developments of the last year (August 2004August 2005), the authors discuss changes in the rules of qualified retirement plans and
the taxation of employee welfare benefits. The authors discuss: final, updated regulations
for Internal Revenue Code (IRC) section 401(k) cash-or-deferred arrangements; proposed
"Roth 401(k)" regulations; Internal Revenue Service (IRS) guidance on actuarial
assumptions to be used for lump-sum distributions from defined benefit plans during
2004 and 2005; rumblings at the IRS over application of qualified plan nondiscrimination
rules; temporary and proposed regulations for Employee Stock Ownership Plans holding
stock of subchapter S corporations; guidance from both the Department of Labor (DOL)
and IRS regarding automatic rollovers from qualified plans to IRAs; DOL guidance
regarding the accounts of missing participants, abandoned defined contribution plans, and
a simplified Voluntary Fiduciary Correction Program; additional guidance on both Health
Savings Accounts (HSAs) and Health Reimbursement Accounts (HRAs); IRS guidance
on medical reimbursement accounts within profit sharing plans; and initial proposed
regulations to implement the Uniformed Services Employment and Reemployment
Rights Act (USERRA).
Smith (2013) examined the legal struggle to organize and represent family child care
providers who provide publicly-subsidized child care. In 2005, the Service Employees
20
International Union (SEIU) achieved the largest child-care union victory in United States
history when it won the right to represent more than 49,000 child care workers in Illinois.
The victory, remarkable in its own right, was all the more stunning as the workers were
family child care providers, who provide child care for compensation from within their
private homes and who are generally regarded as independent contractors who lack
collective bargaining rights. SEIU's success was made possible by the increasingly public
character of family child care. In the aftermath of welfare reform, local and state
governments are compensating family child care providers to care for the children
of welfare-to-work recipients. Yet while family child care has become critical to lowincome
families,
rarely
do
providers
receive
adequate
compensation
from
the government. Providers claim that they are de facto state employees - paid by the state
and regulated by the state - and as such are entitled to negotiate with the state regarding
the terms of their labor arrangements. In the course of exploring this claim, the Article
considers the independent contractor/employee distinction as applied to family child care
providers and examines how unions can use the state action doctrine under antitrust law
to grant collective bargaining rights to providers.
Brown, Forde, et. al. (2014) examined that their significant increase in satisfaction with
the sense of achievement from work between 1998 and 2004; a number of other measures
of job quality are found to have increased over this period as well. It also found a decline
in the incidence of many formal human resource management practices. The paper
reports a weak association between formal human resource management practices and
satisfaction with sense of achievement. Improvements in perceptions of job security, the
climate of employment relations and managerial responsiveness were the most important
factors in explaining the rise satisfaction with sense of achievement was due in large part
to the existence of falling unemployment during the period under study, which has driven
employers to make improvements in the quality of work in satisfaction with sense of
achievement between 1998 and 2004.
Duman (2014) suggested that collective bargaining was closely related to social policy
making to the extent that the outcomes of the former inform. It was widely held,
21
however, that trade unions in Central Eastern Europe (CEE) do not have a strong
bargaining position and thus exert little impact on policy decisions. This paper challenges
the view of CEE labour as a uniformly weak actor. It argues that CEE unions ability to
shape the bargaining agenda and social policies depends largely on the degree of
privatization, which overlaps with sectoral divisions. We found that unions in exposed
sectors are unable to oppose greater flexibility even when there are no considerable wage
gains, whereas workers in protected sectors manage to maintain their status and at times
even enhance their welfare, both in terms of higher wages and better working conditions.
The perusal of literature revealed that there had been many researches regarding
programme effectiveness, advantages and disadvantages of different approaches to
welfare provisions, downsizing concept, Employee benefits like retirement and
healthcare benefits. So all the studies that were conducted were not focused on the
welfare schemes that Axis Bank must provides to their Employees.
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23
24
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RESEARCH METHODOLOGY
Research Methodology is a way to systematically solve the research problem. The
Research Methodology includes the various methods and techniques for conducting a
Research. Marketing Research is the systematic design, collection, analysis and
reporting of data and finding relevant solution to a specific marketing situation or
problem. D. Slesinger and M. Stephenson in the encyclopedia of Social Sciences define
Research as the manipulation of things, concepts or symbols for the purpose of
generalizing to extend, correct or verify knowledge, whether that knowledge aids in
construction of theory or in the practice of an art.
Research is, thus, an original contribution to the existing stock of knowledge making for
its advancement. The purpose of Research is to discover answers to the Questions
through the application of scientific procedures. Our project has a specified framework
for collecting data in an effective manner. Such framework is called Research Design.
The research process followed by us consists of following steps:
4.1 Research Design
Research Design is a blueprint or framework for conducting the marketing research
project. It specifies the details of the procedures necessary for obtaining the information
needed to structure and solve marketing research problem. The research design used in
study is descriptive research. Descriptive research is that type of research in which one
can explain what had happened and what is happening, but cannot change the variables;
like in this study employee welfare is done.
4.2 Sample Design
Sampling can be defined as the section of some part of an aggregate or totality on the
basis of which judgement or an inference about aggregate or totality is made. The
sampling design helps in decision making in the following areas.
Universe of the study- Universe refers to the total of the units in field of inquiry.
Present study was restricted to the Employees of Axis Bank.
26
Sample size- Sample size was the number of elements to be included in a study.
Keeping in mind all the constraints 50 respondents of Adampur city were
selected.
Sample unit- Sampling unit is the basic unit containing the elements of the
universe to be sampled. The sampling unit of the present study were the
Employees of Axis Bank
Primary sources- Primary data are those, which are collected are fresh and for
the first time and thus happen to be original in character. Primary data has been
collected by conducting surveys through questionnaire, which include both openended and close-ended questions and personal and telephonic interview.
Secondary sources- Secondary data are those which have already been collected
by someone else which already had been passed through the statistical process.
Secondary data has been collected through magazines, websites, newspapers and
journals.
Percentage, Bar Graphs and Pie Charts: These tools were used for analysis of
data.
Due to shortage of time available at disposal, we were not able to collect as much
information as needed for the study.
There may be untrue information provided by the respondents for the study.
27
The sample may not be a true representative, as due to location factor, the respondents
may not be representative of the whole universe.
Although the staff of Axis Bank, Adampur was highly co-operative and devoted
enough to its valuable time on me but because of their busy schedules, I feel that I
unable to gain complete knowledge. Furthermore, I was allotted a limited time period
for study. Both of these became the limiting feature to get thoroughly facilitate with
entire organizational activities.
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29
No. of Respondents
Percentage of Respondents
Below 5 Years
6-10 Years
5
10
10
20
11-15 Years
10
16-20 Years
10
20
Above 21 Years
20
40
Total
50
100
Percentage of Respondents
Below 5 Years; 10%
Above 21 Years; 40% 6-10 Years; 20%
Analysis and Interpretation:The figure above examined that 40% of employees have working experience above 21
years, 20% of respondents have working experience 16-20 tears and 6-10 years, and 10%
of employees have working experience 11-15 years and below 5 years.So by this it has
been found that majority of the employees have working experience above 21 years.
30
Statement 2: To know whether the employees are satisfied with the bank and
supervision of employees as per the welfare work provided:
Table 5.2 Satisfaction Level of Employees
statement
No. of Respondents
Percentage of Respondents
Highly Satisfied
Satisfied
25
10
50
20
Neutral
15
30
Dissatisfied
00
Highly Dissatisfied
00
Total
50
100
No. of Respondents
Neutral; 30%
Highly Satisfied; 50%
Satisfied; 20%
Analysis and Interpretation:As shown above majority i.e. 50% of the employees were highly satisfied with the
organizational supervision of employee welfare provided by Axis Bank. About 20% of
the employees were satisfied and 30% were neutral, whereas none of the employee was
dissatisfied respectively.
31
Statement 3: To know whether the employees are aware of all the welfare schemes
or not
Table 5.3 Awareness of Welfare Schemes
Satisfy with salary
Yes
No
Total
No. of Respondents
40
10
50
Percentage of Respondents
80
20
100
No. of Respondents
No; 20%
Yes; 80%
Analysis and Interpretation:As shown above majority i.e. 80% of the employees were aware of all the welfare
schemes provided by the organization, whereas 20% of the employees thought that they
were not fully aware about all the schemes provided.
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Statement 4: To know the opinion of employees about the banks welfare schemes.
Table 5.4 Opinion of Employees
Opinion
No. of Respondents
Percentage of Respondents
Excellent
Good
30
15
60
30
Fair
10
Poor
00
00
Very Poor
00
00
Total
50
100
No. of Respondents
Fair; 10%
Good; 30%
Excellent; 60%
Analysis and Interpretation:- As shown above majority i.e. 60% of the employees
thought that the banks welfare schemes were excellent and about 30% thought that they
were good and 10% thought that the schemes were fair respectively.
33
Statement 5: To know the ranking of employees which they think are best on the
scale of 1 to 5 (1 being more preferred, 5 being least preferred)
Table 5.5 Preference of Schemes
Schemes
Rank 1
Rank 2
Rank 3
Rank 4
Rank 5
Total
Rate
10
21
138
Welfare Excursion
20
16
110
scheme
Medical
Housing
17
5
20
2
7
12
2
23
4
8
103
173
1
4
Number of respondents- 50
Rank 1- Most Preferred
Rank 5-Least Preferred
Analysis and Interpretation:In this above table weighted average score method was used where 1 rank was the most
preferred rank and 5 was the least preferred rank.
As in the above table various schemes were being ranked. The above table depicted that
majority of the respondents felt that the medical scheme was best and was most preferred
scheme . Then welfare excrusion scheme was given Rank 2. Then social security, housing
schemes were considered as Rank 3, Rank 4 and Rank 5 respectively.
34
No. of Respondents
Percentage of Respondents
Interesting
24
48
Quite Boring
10
Challenging
18
36
According to Skills
Total
50
100
Percentage of Respondents
According to Skills; 6%
Challenging; 36%
Interesting; 48%
Analysis and Interpretation:The figure above examined that 48% of the employees thought that interesting type of
jobs were given to them, 36% of the employees thinks that challenging type of jobs are
given to them, 10% of the employees thought that quite boring type of jobs were given to
them while only 6% of the employees thought that jobs were given to them according to
skills. So the majority of the employees thought that interesting type of jobs were given
to them.
35
SA
D SD Summated
10
20
15
Score
167
Employee.
8.2) Working environment of Axis Bank
22
16
204
23
17
210
11
21
10
185
17
16
10
191
education
8.6) Staff Benevolent Fund
20
13
10
193
33
15
234
36
The first statement has summated score as 167, which lies between 200 and 150. That
means either the people were satisfied or neutral.
The second statement has summated score as 204, which lies between 200 and 250. That
means either the persons were highly satisfied or satisfied. This value was more towards
200. So, we can say that people were satisfied towards this statement.
The third statements summated score was 210, which lies between 200 and 250. That
means either the persons were highly satisfied or satisfied. This value was more towards
200. So, we can say that people were satisfied towards this statement.
The fourth statements summated score was 185, which lies between 200 and 150. That
means either the persons were satisfied or neutral. This value was more towards 200. So,
we can say that people were satisfied towards this statement.
The fifth statement has summated score was 191, which lies between 150 and 200. It
means either the persons were agreed or neutral. But the value was more inclined towards
200. So, the persons were agreed regarding this statement.
The sixth statements summated score was 193, which lies between 150 and 200. It
means either the persons were agreed or neutral. But the value was more inclined towards
200. So, the persons were agreed regarding this statement.
The seventh statements summated score was 234, which lies between 250 and 200. It
means either the persons were highly satisfied or satisfied. But the value was more
inclined towards 250. So, the persons were highly satisfied regarding this statement.
The eighth statements summated score was 177, which lies between 150 and 200. It
means either the persons were satisfied or neutral. But the value was more inclined
towards 200. So, the persons were satisfied regarding this statement.
37
SA
D SD Summated
10
20
15
score
203
9.2) Lighting
22
20
206
30
15
221
15
20
10
193
17
16
10
195
Maximum Score
Highly satisfied (50*5) - 250
Satisfied (50*4) 200
Neutral (50*3) 150
Dissatisfied (50*2) 100
Highly Dissatisfied (50*1) - 50
Analysis and Interpretation:
As from the above table no 5.11 comparison was done between maximum score and
summated score. Maximum score is the score which represents the strongly agree level
among the respondents. So, information related to the level of agreement or least
agreement to various factors Axis Bank influencing the agreement level of respondents
was interpreted in following manner-:
The first statement has summated score as 203 , which lies between 200 and 150. That
means either the people were satisfied or neutral.
The second statement has summated score as 206, which lies between 200 and 250. That
means either the persons were highly satisfied or satisfied. This value was more towards
200. So the people were satisfied towards this statement.
38
The third statements summated score was 221, which lies between 200 and 250. That
means either the persons were highly satisfied or satisfied. This value was more towards
200. So the people were satisfied towards this statement.
The fourth statements summated score was 193, which lies between 200 and 150. That
means either the persons were satisfied or neutral. This value was more towards 200. So,
we can say that people were satisfied towards this statement.
The fifth statement has summated score was 195, which lies between 150 and 200. It
means either the persons were agreed or neutral. But the value was more inclined towards
200. So, the persons were agreed regarding this statement.
39
SA
D SD
Summated
10.1) Housing
30
15
score
225
22
20
206
30
15
221
10.4) Insurance
15
20
10
193
Maximum Score
Highly satisfied (50*5) - 250
Satisfied (50*4) 200
Neutral (50*3) 150
Dissatisfied (50*2) 100
Highly Dissatisfied (50*1) - 50
Analysis and Interpretation:
As from the above table no 5.11 comparison was done between maximum score and
summated score. Maximum score was the score which represents the strongly agree level
among the respondents. So, information related to the level of agreement or least
agreement to various factors Axis Bank influencing the agreement level of respondents
was interpreted in following manner-:
The first statement has summated score as 225, which lies between 250 and 200. That
means either the people were highly satisfied or satisfied.
The second statement has summated score as 206, which lies between 200 and 250. That
means either the persons were Highly satisfied or satisfied. This value was more towards
200. So, we can say that people were satisfied towards this statement.
40
The third statements summated score was 221, which lies between 200 and 250. That
means either the persons were highly satisfied or satisfied. This value was more towards
200. So, we can say that people were satisfied towards this statement.
The fourth statements summated score was 193, which lies between 200 and 150. That
means either the persons were satisfied or neutral. This value was more towards 200. So,
we can say that people were satisfied towards this statement.
41
Statement 10: To know after how much time the welfare policy should be amended
in Axis Bank.
Table 5.12 Amendment of Welfare Policy
Time period
No. of Respondents
Percentage of Respondents
24
48
20
40
After 3 years
Total
50
100
No. of Respondents
After five years; 4%
After 3 years; 8%
After every year; 48%
After two years; 40%
Analysis and Interpretation:As shown above majority i.e. 48% of the employees suggest that the welfare policies
should be amended every year. About 40% of the employees suggest that the policies
42
should be amended after every two years, whereas 8% said after 3 years and only 4% said
after 5 years respectively.
43
44
From the above tables and figures, the analysis was regarding employee welfare of Axis
Bank Pvt. Ltd, Adampur Based on the analysis the following results had been found out: Most of the employees were aware of the welfare schemes offered by the
organization.
Most of the employees were satisfied with their working hours.
Most of the employees thought that company have excellent policies and practices
and none of the employee thought that companys policies and practices were very
poor.
Most of respondents thought that interesting type of job was given to them and very
few of them thought that job were given according to skills.
Most of the employees said that workers were co-operative among themselves.
Most of the employees think that the medical scheme, housing and social security
schemes are best.
Most of the employees were satisfied with the working conditions and environment.
Majority of the employees think that the welfare schemes should be amended every
year and very few almost negligible think that the polices should be amended after 5
years
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7.1 CONCLUSION
To conclude, Welfare Schemes plays an important role in the employees working life.
The welfare schemes plays a vital role in the development of human resources as well as
the organization as a whole. A proper control should be implemented in the organization
in order to check whether welfare polices are followed or not.
The Axis Bank provides welfare schemes which are better than any other private
organization. The schemes provided here as per mentioned in the Factory Act 1948.
The major findings of the study were that most of the employees were aware and satisfied
with the welfare schemes provided by the organization, work assigned to them and also
with the welfare facilities provided to them. They said that interesting type of jobs was
given to them. According to them working conditions are satisfactory and the economic
welfare schemes alike housing, transportation& retirement benefits and insurance are also
satisfactory. In a whole we can conclude that the employees here are fully satisfied with
the schemes and their job profile.
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7.2 RECOMMENDATIONS
After carrying on the study, the following recommendations have been made: -
1. More stress should be laid on motivating the employees for giving out good
performance in order to achieve awards under welfare schemes.
2. Employees should work sincerely to avail the various welfare facilities.
3. Welfare policies available are quite good i.e. there is need for further
improvement.
4. Time to Time counseling should be given if any changes made by the
organization.
5. Employees should be more aware regarding the welfare schemes to gain benefits.
6. Working conditions need to improve as per the changing work environment.
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49
REFERENCES
Benko (2012) Job Attitude and Employees Performance of Public Sector
Organizations in Jaffna District, Sri Lanka. GITAM Journal of Management, 6(2),
66-73.
Brown, J. et al. (2014). Changes in HRM and employee welfare, 19982004:
evidence from the Workplace Employment Relations Survey. Journal of Human
Resource Management, 18(2), 97195.
Davis, A. and Gibson, L. (2006). Designing Employee Welfare Provision. Personnel
Review, Vol. 23 Iss: 7, pp.33 45
Duman, D. (2014). Labour welfare In Human Service Employment. Journal of
Leadership & Organizational Studies. 14(2),106-116.
Gregory, J. (2003). Employee Welfare and Strategic planning session. Nonprofit and
Voluntary Sector Quarterly. 35(2), 225-248.
Habeman, M. (2013). Culture component of Employee Welfare. Human Relations.
31(4), 297-308.
Kasza (2010) New development concerning the effect of work overload on
employees. Management Research News, Vol. 27 Iss: 4/5, pp.9 16
Smith (2013) Justice Theory to the performance evaluation process. Nonprofit and
Voluntary Sector Quarterly. 35(2), 225-248.
Osterman(2009) A Study on Employee Welfare & Satisfaction in Scot Edil Pharmacia
Pvt. Ltd., Baddi (H.P). Review of Public Personnel Administration. 24(1), 18-40.
White, M. (2005). Cooperative unionism and employee welfare.
Relations Journal Volume 36, Issue 5, pages 348366, September 2005.
www.google.com
www.employer-employee.com
www.sajejournalsonline.com
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Industrial
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QUESTIONNAIRE
I,
Campus are conducting a research on, Employee Welfare in Axis Bank. So, I request
you to spare a few minutes from your busy schedule and fill this form. I assure you that
the information will be kept confidential.
20-30
30-40
40-50
Qualification Graduate
above 50
Post Graduate
Male
Female
Work experience:
Upto 2 years
2 -6 years
6 -10 years
above 10 years
(B) Questions
Q1.From how many years are you working in the Axis Bank?
a) Below 5 years
b) 6-10 years
c) 11-15 years
d) 16-20 years
e) Above 21 years
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Q3. Are you satisfied with the organization and supervision of employees welfare
work provided by Axis Bank?
a) Highly Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
e) Highly Dissatisfied
Q4. Are you aware of all the welfare schemes provided by Axis Bank?
a) Yes
b) No
b) Good
c) Fair
d) Poor
e) Very Poor
Q6.Rate the schemes which you think are best for employees on the scale of 1-5: (1
Most preferred, 5 Least preferred)
a) Social security scheme
b) Welfare Excrusion scheme
c) Medical
Q7. What type of nature of job you are given?
a) Interesting
b) Quite Boring.
c) Challenging.
d) According to Skills
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HS
HD
4. Recreation of employees
5. Educational assistance provided for childrens
education
6. Staff Benevolent Fund
7. Medical facilities
HS
54
HD
HS
HD
Q11. After how much time the welfare policy should be amended?
a) After every year
c) After 3 years.
d) After 5 years
Q12. Give your suggestions to the organization to improve welfare measures for the
employees
Thank you
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