mba project on employee welfare measures

8/12/2019 MBA Project on Employee welfare measures

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A STUDY ON EMPLOYEE WELFARE

MEASURES WITH REFERENCE TO STAR

HEALTH AND ALLIED INSURANCE CO LTD

PROJECT REPORT

Submitted by

Register No: 009

in partial fulfillment for the award of the degree

Of

MASTER OF BUSINESS ADMINISTRATION

In

DEPARTMENT OF MANAEMENT STUDIES

ALLIED BUSINESS SCHOOL

IND ! 09

1


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Department of Management studies

PROJECT WOR"

This is to certify that the project entitled

A STUDY ON EMPLOYEE WELFARE MEASURES WITH

REFERENCE TO STAR HEALTH # ALLIED INSURANCE CO LTD

is the bonafide record of project work done by

JJ

Register No: 009

of MBA (DEA!TME"T #$ MA"A%EME"T &T'DE&)

during the year *+,,-*+,,.

--------------------- -------------------------

roject %uide /ead of the Department

&ubmitted for the roject 0ia-0oce e2amination held

on3333333333

----------------------- ---------------------

nternal E2aminer E2ternalE2aminer

*


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DECLARATION

affirm that the project work title A STUDY ON EMPLOYEE WELFARE

MEASURES WITH REFERENCE TO THE STAR HEALTH AND

ALLIED INSURANCE CO LTDbeing submitted in partial fulfillment for

the award of MASTER OF BUSINESS ADMINISTRATIONis the original

work carried out by me. t has not formed the part of any other project work

submitted for award of any degree or diploma4 either in this or any other

'niersity.

55

certify that the declaration made aboe by the candidate is true

Le$t%rer

De&'rt(e)t o* Mgt+

6


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CONTENTS

C,'&ter

No

Des$ri&tio) P'ge No-

Abstract i

7ist of Tables ii

7ist of 8harts i2

1 1. ntroduction

1.1 About the study

1.* About the ndustry

1.6 About the company

1

*

9

:

* *. Main theme of the project

*.1 #bjecties of the study

*.* &cope and 7imitations

*.6 Methodology

*.; !eiew of 7iterature

1 nterpretation *;

; ;. $indings4 !ecommendations and 8onclusion

;.1 $indings

;.* !ecommendations

;.6 8onclusion

91

9*

99

9=

< Appendices 9:

9 Bibliography =*

;


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ABSTRACT

resent project study is on Employee welfare measures with

reference to the &tar /ealth and Allied nsurance 8o. !apid industriali?ation

and economic growth has resulted in the rise of great "o. of. ndustries4 a

large workforce and new industrial society. These factors hae considerable

bearing on the growth of lab our monument. The ideal of a welfare state has

added new dimensions to the 7abor @elfare &erice for their proper

understanding and appreciation.

There is growing awareness in the industrially deeloped and

deeloping countries as to need hae selected this topic to make an effort to

assess the e2isting 7abour facilities being followed in &tar /ealth > Allied

nsurance 8ompany ltd a model priate sector undertakings4 and to gauge the

e2tent of the awareness and leels of appreciation among these welfare

measures.

$irst chapter includes the introduction to the study4 needs for the

study of the employee welfare measures in the company.The company profile

e2plains the arious features of the company like its present status in the

market4 the history and product details.

The second chapter includes objecties4 research methodology and

analysis. The study is conducted for some specific purpose termed as

objecties. This chapter contains the scope and limitations of the study. The

research methodology part contains the research design and the tools used for

analysis. The analysis and interpretation part contains the four statistical tools

like A"#0A4 8hi suare4 8orrelation analysis4 &imple percentage and

@eighted Aerage.


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LIST OF TABLES

Table

"oTAB7E TT7E

age

"o

6.1 Age wise classification of respondents * Allied nsurance 7td were taken

as sample. &o it cannot be generalised.

;-< RESEARCH METHODOLOY

RESEARCH DESIN

*


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The research design is the basic framework of a plan for a study that

guides the collection of data and analysis of data. The design may be a specific

presentation of the arious steps in the process of research. These steps

include the selection of research problem4 presentation of the problem4

formulation of the hypothesis4 methodology4 surey of hypothesis4

interpretation and report writing. n this market surey the design used is

Descriptie !esearch.

DESCRIPTI/E RESEARCH METHOD

The main purpose of descriptie research is to descriptie the state

of iew as it e2ist at present. &imply stated4 it is a fact finding inestigation. n

descriptie research4 definite conclusions can be arried at4 but it does not

establish a case and effect relationship. This type of research tries to

descriptie the characteristic of the respondent in relation to a particular

product.

SAMPLIN METHOD

The researcher made use of probability sampling method in this study.

n this research the researcher has used simple random sampling. n simple

random sampling4 eery unit in the population has eual chance for being

selected as a sample.

TOTAL POPULATION

The total number of employees in the company is Allied

nsurance 7td..

MET/#D& #$ DATA 8#77E8T#"

Pri('r6 D't'

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The data directly collected by the researcher4 with respect to the

problem under study4 is called as primary data. t is also known as !aw data.

The methods used to collect primary data were Nuestionnaire

method4 Direct personal nteriew.

Se$o)5'r6 D't'

&econdary Data were collected from official documents4 like annual

report of the company4 #fficial web site and other bulletin like !B bulletin.

SAMPLIN DESIN

A sample is a small representation of a large population. @hen some

of the elements are selected with the intention of finding out something about

the population from which they are taken4 that group of elements is referred as

a sample4 and the process of selection is called sampling.

SAMPLIN UNIT.

The respondents of the study are the employees of &tar /ealth >

Allied nsurance 7td ..Each respondent is considered to be the sampling unit.

T##7& $#! A"A7&&

Per$e)t'ge ')'16sis

C,i!s>%'re test

Corre1'tio)

ANO/A

Weig,te5 A2er'ge Met,o5

SIMPLE PERCENTAE METHOD

&imple percentage refers to a special kind of ratio. @ith the help

of absolute figures it will be difficult to interpret any meaning from the

*=


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collected data4 but percentage are find out it becomes easy to find out the

relatie difference between two or more attributes.

"umber of !espondents

ercentage of !espondents O 2 1++

Total respondents

CHI! S?UARE TEST

8hi-&uare test is an important test among the seeral test of

significance. 8hi- &uare symbolically written as pronounced as FiP . t is a

statistical measure used in the conte2t of sampling analysis for comparing a

ariance to a theoretical ariance. 8hi- &uare test enables to e2plain whether

or not two attributes are associated.

/o O "ull /ypothesis

The hypothesis to be tested is usually referred to ass "ull hypothesis.

/1 O Alternatie /ypothesis

f /o is rejected it means that the data on the hand are not compatible with the

null hypothesis /o but are comparable with some other hypothesis4 this is the

Alternatie hypothesis

8hi- &uare is calculated as follows4

. QQ (#ij G Eij)P

O

Eij

#ij O #bsered freuency of the cell in the th row and j th column.

Eij O E2pected freuency of the cell in the i th row and j th column.

As a non parametric test it can be used to determine a categorical

data. t is used to make comparison between theoretical population and actual

data. Degree of freedom plays an important part in using the 8hi- &uare

distribution and tests are based on it. The degree of freedom is worked out as

follows.

Degree of $reedom O (!-1) 2 (8-1)

@here4# O #bsered freuency

E O E2pected freuency

! O "umber of rows

8 O "umber of columns

*:


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ANO/A 8A)'16sis o* /'ri')$e

ANO/A test

Analysis of ariance is a techniue used to test euality of means4 when

more than two poulations are considered. n one way A"#0A4 the

obserations are classified according to the factors.

&& between O (QiO1n1(21G2)*Rn*(2*G2)

*Rn(26G2)*Rn;(2;G2)

*)

&&within O Q( 21jG21)*RQ( 2*jG2*) RQ(26jG26)

*RQ(2;jG2;)*)

Weig,te5 A2er'ge

@eighted aerage is used to draw a single number around which the

greatest proportion of the data concentrates.

f 214 2*4 264 2;4 2


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8oncept 7abour is interrupted in numerous ways4 due to the

ariability of social institution4 degree of industriali?ation4 and the leels of

social and economic deelopment in different places and different times

conseuently4 the concept of labour welfare also is approachable from many

angles. As the concept is relatie to the labour and place and the changes in

the economic and scientific enironment4 different persons and bodies define

it in different ways.

CONCEPT OF LABOUR WELFARE:

As pointed out earlier4 the concept of welfare can be approached

from arious angles4 as it is related to the workers4 place and changes with

the economic and scientific adancement in a country it is also a relatie

concept. Many theories hae been outlined.

The $unctional Theories

!eligious Theories

olicy Theories

ublic !elation Theories

hilanthropic Theories

Trusteeship Theories

L'o%r We1*'re i) I)5i'

Arti$1e


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a.That the citi?ens4 men and women eually hae the right to an

adeuate means of 7ielihood.

b. That the ownership and control of the material resources are so

distributed also sub sere the common good

c. That the operation of the economic system does not result in the

concentration of wealth and means of production to the common

detriment.

d. That there is eual pay for eual work for both men and women.

e. That the health and strength of workers4 men and women4 and the

tender age of children are not abused and the citi?ens are not forced

by economic necessity to enter a ocation unsuited for their age of

strength.

Arti$1e @.:!

The state shall within the limits of its economic capacity and

deelopment make effectie proision for securing the right to work4

to education and to public assistance in cases of under sered wants.

Arti$1e @;:!

The state shall make proision for securing just and human conditions

of work and for maternity relief.

Arti$1e @


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Rese'r$, St%5ies U)5ert'e) i) t,e Are' O* L'o%r We1*'re Me's%res

The study4 by 5uliette &ummers ('niersity of &tirling) and 5eff /yman

('niersity of Aberdeen) concludes that combinations of participation and

welfare measures (such as eual opportunities and family-friendly policies)

appear to enhance both organisational performance and the uality of working

life. olicy support should focus on union recognition and actiity within a

human rights framework4 since this can positiely influence employeesH

behaiour towards organisational goals and employer behaiour toward their

employees.

A major research theme relates the changing nature of work and

workplaces4 including trends such as job insecurity4 work intensification and

long working hours (Brannen and Moss 1CC:J Burchell4 7adipo et al. *++*J 7a

0alle4 Arthur et al. *++*) and the long hours culture in many occupations

(Bond4 /yman et al. *++*J 8rompton4 Dennett et al. *++6). Although

occupational and work-family stress has been addressed since the 1C:+s4 there

has been a recent resurgence of interest in stress4 relating to these changes in

the nature of work (Brannen and Moss 1CC:J Burchell4 7adipo et al. *++*J 7a

0alle4 Arthur et al. *++*J eandle4 @igfield et al. *++*)

6*


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8/ATE! 6

A"A7&& A"D "TE!!ETAT#"

T'1e


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8hart6.1

Table6.*%E"DE! @&E 87A&&$8AT#" #$ T/E !E"DE"T&

%ender "o. #f !espondents ercentage

Male 16; 9=

$emale 99 66

Total *++ 1++

6


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INTERPRETATION

Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t o* t,e res&o)5e)ts o* St'r

He'1t, ')5 A11ei5 I)s%r')$e Co-Lt5 is ('rrie5 ')5


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INTERPRETATION

$rom the aboe table it is interpreted that 9+L of the workers are management

professional4*9L are front office staff4 *


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INTERPRETATION

Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t


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INTERPRETATION

According to the aboe table 6+L of the respondents are haing the salary

below


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INTERPRETATION



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INTERPRETATION



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0

5

10

15

20

25

30

Hi!l"

#a$i&ied

#a$i&ied Modera$el"

#a$i&ied

'ia$i&ied Hi!l"

'ia$i&ied

T'1e


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')5 @ 're ,ig,16 5iss'tis*ie5 6 t,e 1e'2e *'$i1it6-

8hart6.C

T'1e


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INTERPRETATION



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INTERPRETATION

Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t %i&(e)t *'$i1ities-

&afety Euipment $acility "o. #f !espondents ercentage

/ighly &atisfied 9+ 6+

&atisfied


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8hart6.1*

T'1e


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INTERPRETATION



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INTERPRETATION

Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t @ o* t,e res&o)5e)ts *ee1e$e11e)t i) $'se o* re1'tio) s,i& it, t,e s%&erior+ ; *ee1 s'tis*'$tor6+

;; *ee1 goo5 ')5 t,e 1e'st ; *ee1 &oor re1'tio) s,i& it, s%&erior-

8hart6.1;

!elationship with &uperior "o. #f !espondents ercentage

E2cellent C9 ;:

&atisfactory


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INTERPRETATION



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INTERPRETATION



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RESPONDENTS OPINION ON POLICY AND ADMINISTRATION

Table6.1=

olicy and Administration "o. #f !espondents ercentage

/ighly &atisfied =* 69

&atisfied ;; **

Moderately &atisfied


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INTERPRETATION



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T'1e


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INTERPRETATION



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INTERPRETATION



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T'1e


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INTERPRETATION



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INTERPRETATION



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INTERPRETATION



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T'1e


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INTERPRETATION



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INTERPRETATION



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Table6.*:

CHI S?UARE TEST FOR SINIFICANCE

/o There is no significant difference between category of workers and their

relationship with superiors.

/1 There is a significant difference between category of workers and their

relationship with superiors.

Degree of freedom O (!ow G 1) 2 (8olumn G 1)

O (; G 1) 2 (; G 1)

8ategory E2cellent &atisfactory %ood oor Total

Management

rofessional *: 1= 1+ < 9+

$ront office

&taff *+ 1= 1; <


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O 6 2 6

O C

7eel of significance O


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Table6.*C

CHI S?UARE TEST FOR SINIFICANCE

/o There is no significant difference between category of workers and

working of trade union.

/1 There is a significant difference between category of workers and

working of trade union.

8ategory E2cellent &atisfactory %ood oor Total

Management

rofessional

6; 1+ 11 < 9+

$ront office

&taff

19 1= 1; <


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$rom the chi G suare test we get there is no significant difference

between category of workers and the trade policy.

T'1e


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O1:.69

ANO/A TABLE

&ources of

ariation

&um of suares Degrees of

freedom

Mean suares $

Between

columns

:1; ; *+6.< $8O*+6.


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T'1e


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I)ter&ret'tio)

!ank1 O$estial Allowance

!ank* OBonus

!ank6 O/!A

!ank; OE&

!ank< OTA

!ank9 Oroident fund

I)*ere)$e

The weighted aerage findings shows that $estial Allowance and Bonus is

ranking first and second offered by the company. /!A and E& is ranking

third and fourth respectiely. #n the other hand4 roident $und is the last.

=:


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T'1e


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CHAPTER 4

:+


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FINDINGS,RECOMMENDATIONS

CONCLUSION

CHAPTER @

@-. FINDINS

It 's *o%)5 t,'t t,e ('7orit6


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6e'rs ')5 . o* t,e res&o)5e)ts 're ,'2i)g (ore t,') .. ')5

'o2e . 6e'rs o* e&erie)$e-

t was found that 9+L of the workers are management

professional4*9L are front office staff4 *


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%i&(e)t *'$i1ities

!egarding safety euipment facilities4%i&(e)t *'$i1ities

t is proed that


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The study reeals that


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t was found that


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consider this and necessary arrangements should be made to proide adeuate

facilities to improe the efficiency of the workers.

@e can also understand from the findings that thereare few employees not being satisfied with the medical facilities

aailable in the organi?ation. The management should pay kind

attention in this regard to improe the medical facilities.

The management shall adopt appropriate

communication system to ensure that all the future plans and

company policies being reached to all the employees in the

organi?ation.

The management should take appropriate action to

improe the transportation facilities as some of the employees are

dissatisfied by the transportation facilities proided by the

organi?ation.

The company can also establish a council constituting

of members from all the departments to deice the welfare measures

and to make the employees much more satisfied.

7ibrary facility should be proided to the employees

for improing their knowledge.

The company should proide necessary lunch room

and rest room facilities to all the employees since some employees

are highly dissatisfied by the rest room facilities..

@-< CONCLUSION

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The researcher is benefited with the study4 because the topic will help the

management to get an effectie feedback from the employees about the employee

welfare measures preailing in the organi?ation.

t also proides researcher an opportunity to e2pose with functions of the

human resource department and able to well ersed with statutory and non statutory

welfare measures adopted in the organisation.

The study proides arious suggestions to the management including

arious welfare measures to enhance leel of satisfaction of employees in the

&TA!/EA7T/ A"D A77ED "&'!A"8E 8o.7TD4 .

At the same time employees got opportunity to e2press their iew about

arious components of the satisfaction leel preailing in &TA!/EA7T/ A"D

A77ED "&'!A"8E 8o.7TD4 .

t is also e2pected that improement will be made and appropriate actions

will be taken based on the suggestions and opinions gien by the respondents and

researcher.

:=


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APPENDIX

?UESTIONNAIRE

::


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A St%56 o) E(&1o6ee We1*'re Me's%res it, Re*ere)$e to St'r ,e'1t,

A)5 A11ie5 I)s%r')$e Co-Lt5

1. "ame

*. Age

6. &e2 Male $emale

;. Marital &tatus


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/ighly satisfied &atisfied Aerage

Dissatisfied /ighly dissatisfied

1;. &uggest your opinion of safety euipments proided in the

organi?ationU

/ighly satisfied &atisfied Aerage Dissatisfied

/ighly dissatisfied

1


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$

/!A

$estial Allowance

TA

E&

*+.Tick your satisfaction regarding the welfare measures in the following table

@elfare

Measures /ighlysatisfied

&atisfied Moderatelysatisfied

Dissatisfied

0entillation

Temperature

&eating arrangement

7ighting

&pace for working

BIBLIORAPHY

1. /uman !esource Management (1*thEdition) by 8.B.Mamoria.

*. /uman !esource Management (:th Edition ) by %ary Dessler.

6. /uman !esource Management ( 9thEdition) by Daid. A . Decen?o > &tephen.

.!obbins.

;.!esearch Methodology (


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mba project on employee welfare measures

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