1
A STUDY ON EMPLOYEE WELFARE MEASURES WITH REFERENCE TO STAR HEALTH AND ALLIED INSURANCE CO LTD PROJECT REPORT Submitted by
JJ Register No: 009 in partial fulfillment for the award of the degree Of
MASTER OF BUSINESS ADMINISTRATION In
DEPARTMENT OF MANAGEMENT STUDIES
ALLIED BUSINESS SCHOOL IND - 09
2
Department of Management studies PROJECT WORK
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 (DEPARTMENT OF MANAGEMENT STUDIES) during the year 20XX-20XX. ---------------------
Project Guide
-------------------------
Head of the Department
Submitted for the Project Viva-Voce examination held on__________ -----------------------
---------------------
Internal Examiner
ExternalExaminer
3
DECLARATION I affirm that the project work title A STUDY ON EMPLOYEE WELFARE MEASURES WITH REFERENCE TO THE STAR HEALTH AND ALLIED INSURANCE CO LTD being submitted in partial fulfillment for the award of MASTER OF BUSINESS ADMINISTRATION is the original work carried out by me. It has not formed the part of any other project work submitted for award of any degree or diploma, either in this or any other University.
JJ
I certify that the declaration made above by the candidate is true
Lecturer Department of Mgt,
4
CONTENTS
Chapter
Description
Page No.
No
1
2
3 4
5 6
Abstract List of Tables List of Charts 1. Introduction
vi vii ix 1
1.1 About the study
2
1.2 About the Industry
6
1.3 About the company 2. Main theme of the project
8 15
2.1 Objectives of the study
16
2.2 Scope and Limitations
16
2.3 Methodology
17
2.4 Review of Literature 3. Analysis & Interpretation 4. Findings, Recommendations and Conclusion
21 24 61
4.1 Findings
62
4.2 Recommendations
66
4.3 Conclusion Appendices Bibliography
67 68 72
5 ABSTRACT Present project study is on Employee welfare measures with reference to the Star Health and Allied Insurance Co. Rapid industrialization and economic growth has resulted in the rise of great No. of. Industries, a large workforce and new industrial society. These factors have considerable bearing on the growth of lab our monument. The ideal of a welfare state has added new dimensions to the Labor Welfare Service for their proper understanding and appreciation. There is growing awareness in the industrially developed and developing countries as to need I have selected this topic to make an effort to assess the existing Labour facilities being followed in Star Health & Allied Insurance Company ltd a model private sector undertakings, and to gauge the extent of the awareness and levels of appreciation among these welfare measures. First chapter includes the introduction to the study, needs for the study of the employee welfare measures in the company.The company profile explains the various features of the company like its present status in the market, the history and product details. The second chapter includes objectives, research methodology and analysis. The study is conducted for some specific purpose termed as objectives. 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 ANOVA, Chi square, Correlation analysis, Simple percentage and Weighted Average.
6 LIST OF TABLES Table No:
TABLE TITLE
Page No:
3.1
Age wise classification of respondents
25
Gender wise classification of respondents
26
Marital status wise classification
27
3.4
Classification based on designation
28
3.5
Experience wise classification
29
3.6
Salary wise classification
30
3.7
Respondents opinion on promotion
31
Respondents opinion on medical facility
32
Respondents opinion on leave facility
33
Respondents opinion on rest room facility
34
Respondents opinion on Transportation facility
35
3.12
Respondents opinion on Safety equipment facility
36
3.13
Respondents opinion on Advance payment facility
37
3.14
Respondents opinion on relationship with the superior
38
3.15
Respondents opinion on social security
39
3.16
Respondents opinion on working of Trade union
40
3.17
Respondents opinion on policy and Administration
41
3.18
Respondents opinion on Bonus
42
3.19
Respondents opinion on PF
43
3.20
Respondents opinion on HRA
44
3.21
Respondents opinion on TA
45
3.2 3.3
3.8 3.9 3.10 3.11
7
3.22
Respondents opinion on Festival Allowance
46
3.23
Respondents opinion on ESI
47
3.24
Respondents opinion on Ventillation
48
3.25
Respondents opinion on Temperature
49
3.26
Respondents opinion on Lighting
50
3.27
Respondents opinion on Space
51
3.28
Respondents opinion on Seating Arrangement
52
Chi- square test showing significant difference between category of workers & their relationship with superior Chi- square test showing significant difference between category of workers & working of Trade union
53
3.31
ANOVA
56
3.32
Weighted Average Method
58
3.33
Correlation coefficient
60
3.29 3.30
LIST OF CHARTS
55
8
Chart No:
PARTICULARS
Page No:
3.1
Age wise classification of respondents
25
Gender wise classification of respondents
26
Marital status wise classification
27
3.4
Classification based on designation
28
3.5
Experience wise classification
29
3.6
Salary wise classification
30
3.7
Respondents opinion on promotion
31
Respondents opinion on medical facility
32
Respondents opinion on leave facility
33
Respondents opinion on rest room facility
34
Respondents opinion on Transportation facility
35
3.12
Respondents opinion on Safety equipment facility
36
3.13
Respondents opinion on Advance payment facility
37
3.14
Respondents opinion on relationship with the superior
38
3.15
Respondents opinion on social security
39
3.16
Respondents opinion on working of Trade union
40
3.17
Respondents opinion on policy and Administration
41
3.18
Respondents opinion on Bonus
42
3.19
Respondents opinion on PF
43
3.20
Respondents opinion on HRA
44
3.21
Respondents opinion on TA
45
3.2 3.3
3.8 3.9 3.10 3.11
9
3.22
Respondents opinion on Festival Allowance
46
3.23
Respondents opinion on ESI
47
3.24
Respondents opinion on Ventillation
48
3.25
Respondents opinion on Temperature
49
3.26
Respondents opinion on Lighting
50
3.27
Respondents opinion on Space
51
3.28
Respondents opinion on Seating Arrangement
52
10
11
CHAPT ER 1 INTRODUCTIO N 1.1 ABOUT THE STUDY "welfare" is a broad concept referring to a state of living of an individual or group, in a desirable relationship with the total environment - ecological, economic and social. Labor welfare includes both the social and economic contents of welfare. Social welfare is primarily concerned with the solution of various problems of the weaker sections of society like the prevention of destitution, poverty, etc. It aims at social development by such means as social legislation, social reform, social services, social work, social action, etc. The object of economic welfare is to promote economic development by increasing production and productivity and through equitable distribution. Labor welfare is a part of social welfare, conceptually and operationally. It covers a broad field and connotes a state of well-being, happiness, satisfaction, conservation and development of human resources. Labor welfare may be viewed as a total concept, as a social concept and as a relative concept. The total concept is a desirable state of existence involving the physical, mental, moral and emotional well-being. These four elements together constitute the structure of welfare, on which its totality is based. The social concept of welfare implies the welfare of man, his family and his community. All these three aspects are inter-related and work together in a three dimensional approach. The relative concept of welfare is relative in
12 time and place. It is a dynamic and flexible concept and hence its meaning and concept differ from time to time, region to region, industry to industry and general standard of the socio-economic development of the people. Labor Welfare means working out things for the well-being of the labors. Knowing there wants and enabling them to fulfill there wants. Oxford dictionary defines Labor welfare as efforts to make life worth living for workmen. R.R. Hopkins defines welfare is fundamentally an attitude of mind on the part of the management influencing the methods by which management activities are undertaken. Labor welfare activities in an industrialized society has far reaching impact not only on the work force but also all the facets of human resources. Labor welfare includes all such activities, which not only secures existential necessities but also ensures improvement in spiritual and emotional quotient. It comprises of short term and long terms goal toward building a humane society. As labor welfare is a dynamic concept, changes in its principles activities and the rationale supporting them have not been static. They closely follow the stages of advancement of the industrialized society – from police Theory to Functional Theory. Accordingly principles for successful implementation of labour welfare activities ranges from adequacy of wages to impact on efficiency as well as transformation of personality in nut shell, it is extension of democratic values in an industrialized society. Theories of Labour welfare Activities have been formulated on the conviction that it is man behind the machine who is responsible for achieving mission of an organization. A person can deliver at his best only when he is satisfied and committed to the cause. To keep the employees motivated and committed various welfare facilities are provided by the organization not only to the employees but also to the family member. The term 'Welfare' expresses many ideas, meanings and connotations, such as the state of well being, health, happiness, prosperity and the development of human resources. It includes both the social and economic aspects of welfare. The social concept of welfare
13 implies the welfare of man, his family and his community. All these three aspects are inter-related and work together. The word labour means any productive activity. In a broader sense, therefore the phrase labour welfare means the adoption of measures to promote the physical, social, psychological and general well being of the working population. Welfare work in any industry aims or should aim at improving the working and living conditions of workers and their families. The concept of labour welfare activities, however, is flexible, elastic and differs from time to time, region to region, industry to industry and country to country, depending upon the value system, level of education, social customs, degree of industrializations and the general standard of the socio-economic development of a people. OBJECTIVES OF LABOUR WELFARE ACTIVITIES The object of welfare activities is to promote economic development by increasing production and productivity. The underlying principle is to make the workers given their loyal services ungrudgingly in genuine spirit of co-operation, in return for obligations, voluntary and compulsory, accepted by the employee towards the general well-being of the employees. Improving the efficiency of the labour is another objective of labour welfare activities. Efficiency gives double reward, one in the form of increased production and the other in the shape of higher wages due to achievement of higher productivity. Welfare activities add to their efficiency and efficiency in turn help the worker to earn more wages. Therefore, welfare activities in an organization are twice blessed. It helps the employer and the employee both. Another objective of welfare activities is to secure the labour proper human conditions of work and living. Working conditions of organization may be led by an artificial environment which features are dust, fumes, noise, unhealthy temperature, etc. The welfare activities are done to minimize the hazardous effect on the life of the workers and their family
14 members. It is the duty of the employer to see these human needs. If welfare activities are viewed in this light, it can be seen that they are guided by purposes of humanitarian and social justice. The next objective of welfare activities is to add in a real way to the low earning of the labour. The facilities are provided to supplement the income of the workers by services such as housing, medical assistance, school, co-operative, canteens, stores, playgrounds etc.
1.2
INDUSTRY PROFILE
The insurance sector in India has come full circle from being an open competitive market to nationalization and back to a liberalised market again. Tracing the developments in the Indian insurance sector reveals the 360-degree turn witnessed over a period of almost two centuries. With the largest number of life insurance policies in force in the world, insurance is a mega opportunity in India. It's a business growing at the rate of 15-20 per cent annually and presently is of the order of around Rs 450 billion. Together with banking services, it adds about 7 per cent to the country's GDP. Gross premium collection is nearly 2 per cent of GDP and funds available with LIC for investments are 8percent of GDP. Yet, nearly 80 per cent of Indian population are without life insurance cover, health insurance and non-life insurance continues to be below international standards. And this part of the population is also subject to weak social security and pension systems with hardly any old age income security. This itself is an indicator that growth potential for the insurance sector is immense. RECENT SCENARIO The Government of India liberalised the insurance sector in March 2000 with the passage of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry restrictions for private players and
15 allowing foreign players to enter the market with some limits on direct foreign ownership. Under the current guidelines, there is a 26 percent equity cap for foreign partners in an insurance company. There is a proposal to increase this limit to 49 percent. Premium rates of most general insurance policies come under the purview of the government appointed Tariff Advisory Committee. The opening up of the sector is likely to lead to greater spread and deepening of insurance in India and this may also include restructuring and revitalizing of the public sector companies. A host of private Insurance companies operating in both life and non-life segments have started selling their insurance policies since 2001.In the life Insurance segment the Life Insurance Corporation of India (LIC) is the major player. The LIC has 2050 branches. It is constituted in to seven zones. Currently, there are 56,000 LIC agents in India.In the General Insurance Business, General Insurance Corporation (GIC) and its four subsidiaries, New India Insurance, Oriental Insurance, National Insurance and United India Insurance, are growing at a rate of 19 percent per year. Presently there are 12 general insurance companies with 4 public sector companies and 8 private insurers. Although the public sector companies still dominate the general insurance business, the private players are slowly gaining a foothold. According to estimates, private insurance companies have a 10 percent share of the market. In the first half of 2002, the private companies booked premiums worth Rs 6.34 billion. Most of the new entrants reported losses in the first year of their operation in 2001. Insurance costs constitute roughly around 1.2- 2 percent of the total project costs. Under the existing norms, insurance premium payments are treated as part of the fixed costs. Consequently they are treated as pass-through costs for tariff calculations. NON-LIFE INSURANCE STATISTICS: The general insurance industry grew by 13 percent with premium income rising to Rs 180.95 billion in 2004-05 from Rs 160. 37 billion in 2003-04 and Rs 142.81billion in 2002-03, according to Insurance Regulatory and Development Authority (IRDA) data.
16 Oriental Insurance crossed Rs 30 billion mark in premium income in 2004-05 and maintained its position as the country's third largest general insurer. "The company's premium collection grew by 7.30 per cent to Rs 30.38 billion during 2004-05 from Rs 28.32 billion in 2003-04. Delhi-based Oriental was at the third spot with a market pie of 16.99 per cent after clocking a business growth of 8.08 per cent to Rs 2,782 billion till February.
1.3 COMPANY PROFILE Star Health and Allied Insurance Co. Ltd has a capital base of Rs. 108 crores, more than what is adequate to form a general insurance company. The Star Health and Allied Insurance is the first stand alone insurance company in India. It specialises in Health insurance, provides quality service at the best rates, and commits itself to the service of the insured. Offers hassle free cashless settlements to the insured. There is no third party Administrator involved, which means better service, in shorter time and no hassles at all. Provides a no claim discount one that has never been offered before in the country. Has a round- the -clock GP service, which provides counseling and advice. When necessary the insured will be guided to the company’s large network of doctors in different localities. Provides periodic health check ups for the clients. Has a range of policies suited to every age group, different health aspects and concerns. And last but not the least; STAR HEALTH is first and foremost, a dedicated insurer who cares for your health in every way.
17
Vision Protecting health promoting health Mission Ultimate customer satisfaction Trust and ethics We believe honesty and integrity are essential to our success. Teamwork We work together to provide you the best of healthcare options. Commitment We are committed to become a STAR in health and related insurance. Conducive work environment To create an environment that is conducive to customer satisfaction, innovation and belongingness. Exclusive Features
Cashless service without TPA intervention the USP of the company.
Direct tie-up with hospitals on all India basis.
24 hours General Practitioner’s advice and medical counseling 24×7 in-house call center.
Toll free telephone assistance.
Complete knowledge backed website to offer medical information, including health tips.
PRODUCT PROFILE Senior Citizen Red Carpet Policy
18
Turning sixty is a major milestone and for most people, a time to start being more careful about their health. It is a matter of concern that insurance policies are hardly available to address this critical requirement. STAR Health is proud to introduce a health insurance policy aimed specifically at senior citizens. It provides cover for anyone over the age of 60 and permits entry right up to the age of 69 with continuing cover after that. It is our way of caring for a generation that has done so much to build the country we have today.
Major Product Features
For people aged between 60 and 69 years.
Guaranteed renewals beyond 69 years.
No pre-insurance medical test is required.
Treatment at network hospitals only.
All pre-existing diseases are covered, except those for which treatment or advice was recommended by or received during the immediately preceding 12 months from the date of proposal. The Benefits
Hospitalization Cover: In-patient hospitalization expenses for a minimum of 24 hours. Includes room rent and boarding @ 1% of sum insured.
ICU expenses per day @ 2% of sum insured.
Nursing expenses.
Fees for Doctor/Surgeon/Consultant/Anesthetist per illness@ 25% of sum insured.
Cost of blood, oxygen, Pacemaker.
19
Cost of Drugs and diagnostic tests @ 50% of sum insured per hospitalization.
Treatments
for
cardiovascular
diseases/Cerebrovascular
accident/cancer and breakage of bones up to Rs.75000.
Cataract up to Rs.15000.
Renal complications up to 75000
All other major surgeries, up to Rs.60,000/-
Emergency ambulance charges for transporting the insured person to the hospital @ Rs. 750 per hospitalization and Rs.1500 per policy period
A lump sum calculated at 7% of the hospitalization expenses is payable towards post-hospitalization, subject to a maximum of Rs.5000/-per occurrence as per the policy.
Policy Premium
A flat premium of Rs.4908/- for a sum insured of rs.100000/-per annum and Rs.9326/- for a sum insured of Rs.200000/- irrespective of the age (inclusive of service tax)
Tax Benefit Premium paid by cheque and credit card is eligible up to Rs.15000/- for relief
under section 80-D of the income Tax Act (Rs. 20000 for senior
citizens) Family Health Optima Policy When a Family member is ill, it is a traumatic time for the rest of the family. Star Health provides Family Health Optima to protect all members of a family from financial setbacks in the event of a serious illness. The coverage is applicable equally to all members of the family. Family Health Optima Benefits
20
Hospitalisation cover: This would protect the insured person for inpatient hospitalization expenses for a minimum of 24 hours. These expenses include room boarding expenses to a maximum of Rs.1500 per day in class A cities,Rs.750 in class B cities or Rs. 500 in other locations.
Nursing expenses
Surgeon fees, consultant fees, Anesthetist and specialist fees
Cost of blood, oxygen, diagnostic expenses, cost of pace markers etc.
Emergency ambulance charges for transporting the covered patient to the hospital up to a sum of Rs.750 per hospitalization and overall limit of Rs.1500 per policy period.
Additional Benefits
The sum insured floats among the family members insured. In other words there is no need to take insurance for each member separately for separate sum insured.
Thus there is considerable premium saving.
Overseas Travel Policy (Individual) People who travel very often are exposed to several risks as they have to acclimatize themselves to variations in weather, food and schedules. STAR Health offers STAR Travel Protect insurance to protect against any kind of risk traveling, whether they are merely inconvenient- like losing baggage or something serious – like a health problem. Features
When you travel abroad on business or holiday Star Travel protect policy provides for:
Emergency medical expenses
Repatriation in case of medical emergency
Repatriation of moral remains
21
Any dental emergency expenses following accidental injuries
Cost of loss of your checked in baggage.
Reasonable expenses incurred for obtaining new passport
Flight delay
Missed departure/connection
Expenses on emergency purchases of consumables due to any delay in handing over your checked in baggage by the carrier for more than 12 hours.
Pecuniary loss on cancellation of your trip due to any accidental bodily injury /death of a family member
Any legal liability that may be fastened upon you, if you cause any bodily injury or property damage to any third party
Hijack distress.
Eligibility All people residing in India between 6 months and 70 years traveling outside India on holiday can take this insurance. Star Super Surplus Insurance Life is full of the unexpected. However, when you are well prepared, you can be in control even under the most unexpected circumstances. Star Health Insurance brings you Super Surplus Health Insurance, which offers you much more coverage than the traditional insurance policies. This means you can rest assured and be confident of facing any unfortunate health eventuality in the family like sudden illness. Star Surplus is an health insurance policy that offers much more protection. Wider coverage option of Rs.7 lacks and Rs.10 lacks at surprisingly low premiums. Major Product Features
22 The Policy offers an improved coverage benefit of wider protection at a lesser price. Cover options for Rs.7,00,000 & Rs.10,00,000. Policy Benefits
Hospitalization cover: This would protect the Insured person for inpatient hospitalization expenses include room rent up to a maximum of Rs.4000 per day.
No ceiling on ICU, medicine, diagnostic charges or consultation fee
Boarding and nursing expenses
Surgeon’s fees, consultant’s fees and Anesthetist’s fees.
Cost of blood, oxygen, diagnostic expenses, cost of pace maker etc.Cost of medicines and drugs.
Star Health Gain Policy-Individual With the perfect balance between insurance and tax benefit- star health gain insurance is the policy just for you. Despite a reassuringly low premium, it offers both outpatient and inpatient hospitalization expenses cover with maximum tax benefits. Sure enough, the best of both worlds is now yours. Major Product Features
Flat amount of Rs.14,725 only irrespective of the sum insured or age of the persons or number of persons covered.
Coverage for both inpatient and outpatient treatments under one policy.
Any unutilized amount under outpatient benefit can be carried forward to the next one year.
Policy Benefits
23 Expenses in a hospital for inpatient hospitalization (minimum 24 hour stay) Expenses under the following heads are payable Room rent for boarding up to 2% of the sum insured, subject to a maximum of Rs 4000 per day in class A cities; 1% of the sum insured, subject to a maximum of Rs 3000 per day in class B cities 1% of the sum insured, subject to a maximum of Rs1000 per day in other locations.
Surgeon’s fees, consultant’s fees and Anesthetist’s fees.
Cost of blood, oxygen, diagnostic expenses, cost of pace maker etc.
Cost of medicines and drugs.
Emergency ambulance charges for transporting the patient to the hospital upto a sum of Rs750 per hospitalization and overall policy limit of Rs 1500.
Pre-hospitalization expenses upto 30 days prior to the date of admission in hospital/nursing home.
24
CHAPT ER 2 MAIN THEME OF THE PROJECT 2.1 OBJECTIVES OF THE STUDY PRIMARY OBJECTIVE To study the worker’s satisfaction level of labour welfare facilities at Star Health Insurance Company Limited. SECONDARY OBJECTIVES
25 To analyse the satisfaction level towards worker welfare measures and motivational factors. To study the welfare facilities existing in the organization To make constructive suggestions to improve the welfare. To study about the opinion of the workers towards the welfare aspects in the organisation
2.2 SCOPE OF THE STUDY Labour welfare activities are based on the plea that higher productivity requires more than modern machinery and hard work. It requires co-operative endeavor of both the parties, labour and management. This is possible only when labour is given due importance and human element is taken into account at every stage.
LIMITATIONS OF THE STUDY
The researcher had to spend more time to explain about the study.
There may be chances of bias which will affect the accuracy.
The investigators access to the workers was limited due to the shift system.
Some of the respondents are reluctant to provide adequate information.
Only the labours of Star Health & Allied Insurance Ltd were taken as sample. So it cannot be generalised.
2.3 RESEARCH METHODOLOGY RESEARCH DESIGN
26 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 various steps in the process of research. These steps include the selection of research problem, presentation of the problem, formulation of the hypothesis, methodology, survey of hypothesis, interpretation and report writing. In this market survey the design used is Descriptive Research. DESCRIPTIVE RESEARCH METHOD The main purpose of descriptive research is to descriptive the state of view as it exist at present. Simply stated, it is a fact finding investigation. In descriptive research, definite conclusions can be arrived at, but it does not establish a case and effect relationship. This type of research tries to descriptive the characteristic of the respondent in relation to a particular product. SAMPLING METHOD The researcher made use of probability sampling method in this study. In this research the researcher has used simple random sampling. In simple random sampling, every unit in the population has equal chance for being selected as a sample. TOTAL POPULATION The total number of employees in the company is 540. SAMPLE SIZE The sample size consists of 200 employees of Star Health & Allied Insurance Ltd..
METHODS OF DATA COLLECTION Primary Data
27 The data directly collected by the researcher, with respect to the problem under study, is called as primary data. It is also known as Raw data. The methods used to collect primary data were Questionnaire method, Direct personal Interview. Secondary Data Secondary Data were collected from official documents, like annual report of the company, Official web site and other bulletin like RBI bulletin. SAMPLING DESIGN A sample is a small representation of a large population. When some of the elements are selected with the intention of finding out something about the population from which they are taken, that group of elements is referred as a sample, and the process of selection is called sampling. SAMPLING UNIT. The respondents of the study are the employees of Star Health & Allied Insurance Ltd ..Each respondent is considered to be the sampling unit. TOOLS FOR ANALYSIS •
Percentage analysis
•
Chi-square test
•
Correlation
•
ANOVA
•
Weighted Average Method
SIMPLE PERCENTAGE METHOD Simple percentage refers to a special kind of ratio. With the help of absolute figures it will be difficult to interpret any meaning from the
28 collected data, but percentage are find out it becomes easy to find out the relative difference between two or more attributes. Number of Respondents Percentage of Respondents =
x 100 Total respondents
CHI- SQUARE TEST Chi-Square test is an important test among the several test of significance. Chi- Square symbolically written as pronounced as Ki² . It is a statistical measure used in the context of sampling analysis for comparing a variance to a theoretical variance. Chi- Square test enables to explain whether or not two attributes are associated. Ho = Null Hypothesis The hypothesis to be tested is usually referred to ass Null hypothesis. H1 = Alternative Hypothesis If Ho is rejected it means that the data on the hand are not compatible with the null hypothesis Ho but are comparable with some other hypothesis, this is the Alternative hypothesis Chi- Square is calculated as follows, . ∑∑ (Oij – Eij)² = Eij Oij = Observed frequency of the cell in the I th row and j th column. Eij = Expected frequency of the cell in the ith row and j th column. As a non parametric test it can be used to determine a categorical data. It is used to make comparison between theoretical population and actual data. Degree of freedom plays an important part in using the Chi- Square distribution and tests are based on it. The degree of freedom is worked out as follows. Degree of Freedom = (R-1) x (C-1) Where,O = Observed frequency E = Expected frequency R = Number of rows C = Number of columns
29
ANOVA (Analysis of Variance) ANOVA test Analysis of variance is a technique used to test equality of means, when more than
two poulations are considered. In one way ANOVA, the
observations are classified according to the factors. SS between = (∑i=1n1(x1 –x)2 +n2(x2 –x)2 +n(x3 –x)2 +n4(x4 –x)2) SSwithin
= ∑( x1j –x1)2 +∑( x2j –x2) +∑(x3j –x3)2 +∑(x4j –x4)2)
Weighted Average Weighted average is used to draw a single number around which the greatest proportion of the data concentrates. If x1, x2, x3, x4, x5, are n values and f1, f2, f3, f4, f5, are their respected frequencies respectively. Then Weighted average mean =
f1x1 f2x2 f3x3 f4x4 f5x5 -----------------------------N(90)
Correlation Analysis Correlation is the degree of association between two variables and it is represented in terms of a co-efficient known as correlation. The range of the correlation co-efficient is in between -1 and +1. If the correlation co-efficient is negetive, then the variables are inversely proportional and it is maximum when it is +1. The correlation is one of the most common and most useful statistics. A correlation is a single number that describes the degree of relationship betweeen two variables. Correlation = (N∑XY-(∑X) (∑Y) / sqrt([N∑X2 – (∑X)2][N∑Y2 – (∑Y)2])
2.4 REVIEW OF LITERATURE LABOUR WELFARE:
30 Concept Labour is interrupted in numerous ways, due to the variability of social institution, degree of industrialization, and the levels of social and economic development in different places and different times consequently, the concept of labour welfare also is approachable from many angles. As the concept is relative to the labour and place and the changes in the economic and scientific environment, different persons and bodies define it in different ways. CONCEPT OF LABOUR WELFARE: As pointed out earlier, the concept of welfare can be approached from various angles, as it is related to the workers, place and changes with the economic and scientific advancement in a country it is also a relative concept. Many theories have been outlined. •
The Functional Theories
•
Religious Theories
•
Policy Theories
•
Public Relation Theories
•
Philanthropic Theories
•
Trusteeship Theories
Labour Welfare in India Article 38:The State shall strive to promote the welfare of the people by securing the protecting as effectively as it may a social order in which justice, social, economic and political shall all the institutions of the national life. Article 39:The State shall in particular, direct its policy towards securing.
31 a.That the citizens, men and women equally have the right to an adequate means of Livelihood. b. That the ownership and control of the material resources are so distributed also sub serve 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 equal pay for equal work for both men and women. e. That the health and strength of workers, men and women, and the tender age of children are not abused and the citizens are not forced by economic necessity to enter a vocation unsuited for their age of strength.
Article 41:The state shall within the limits of its economic capacity and development make effective provision for securing the right to work, to education and to public assistance in cases of under served wants. Article 42:The state shall make provision for securing just and human conditions of work and for maternity relief. Article 43:The state shall endeavor to endeavor to secure by suitable legislation or economic organization or in any other way to all workers agricultural industrial or otherwise work a living wage, conditions of work ensuring a decent standard of life and full employment of particular, the state shall endeavor to promote cottage industries on an individual or co – operative basic in oral areas.
32
Research Studies Undertaken in the Area Of Labour Welfare Measures The study, by Juliette Summers (University of Stirling) and Jeff Hyman (University of Aberdeen) concludes that combinations of participation and welfare measures (such as equal opportunities and family-friendly policies) appear to enhance both organisational performance and the quality of working life. Policy support should focus on union recognition and activity within a human rights framework, since this can positively influence employees' behaviour towards organisational goals and employer behaviour toward their employees.
A major research theme relates the changing nature of work and workplaces, including trends such as job insecurity, work intensification and long working hours (Brannen and Moss 1998; Burchell, Ladipo et al. 2002; La Valle, Arthur et al. 2002) and the long hours culture in many occupations (Bond, Hyman et al. 2002; Crompton, Dennett et al. 2003). Although occupational and work-family stress has been addressed since the 1980s, there has been a recent resurgence of interest in stress, relating to these changes in the nature of work (Brannen and Moss 1998; Burchell, Ladipo et al. 2002; La Valle, Arthur et al. 2002; Yeandle, Wigfield et al. 2002)
33
CHAPTER – 3 ANALYSIS & INTERPRETATION
34 CHAPTER 3 ANALYSIS AND INTERPRETATION Table3.1 AGE WISE CLASSIFICATION OF RESPONDENTS
Age Below 30yr
No. of Respondents 40
Percentage 20
31 – 40yr
62
31
41 – 50yr
58
29
51yr&above
40
20
Total
200
100
INTERPRETATION From the above table it is interpreted that the majority 31% of the respondents are in the age group of 31-40 ,29% belomgs to the age group 41-50. The percentage of respondents below 30 and above 50 years constitutes 20% only.
35 Chart3.1
Table3.2 GENDER WISE CLASSIFICATION OF THE RESPONDENTS
Gender Male
No. Of Respondents 134
Percentage 67
Female
66
33
Total
200
100
36 INTERPRETATION From the above table it is interpreted that 67% of the respondents of Star Health and Alleid Insurance Co.Ltd is male and 33% are female. Chart3.2
33%
67%
Table3.3 MARITAL STATUS OF RESPONDENTS
Marital Status Married
No. Of Respondents 136
Percentage 68
Unmarried
64
32
Total
200
100
37
INTERPRETATION From the above table it is interpreted that 68% of the respondents of Star Health and Alleid Insurance Co.Ltd is married and 32% are unmarried. Chart3.3
70 60 50 40 30 20 10 0 Married
Unmarried
Table3.4 DESIGNATION OF THE RESPONDENTS
38
Designation Management
No. Of Respondents
Percentage
professional
60
60
Front office staff
52
26
Accountants
50
25
Agents
38
19
Total
200
100
INTERPRETATION From the above table it is interpreted that 60% of the workers are management professional,26% are front office staff, 25% are accountants, and 19% are agents. Chart.3.4
15% 46%
19%
20%
Table3.5 EXPERIENCE WISE CLASSIFICATION OF RESPONDENTS
39
Experience
No. Of Respondents
Percentage
0–5
72
36
6 – 10
68
34
11 – 15
30
15
Above 15
30
15
Total
200
100
INTERPRETATION From the above table it is interpreted that 36% of the respondents are having the experience upto 5 years,34% of the respondents have the experience of 6-10 years and 15% of the respondents are having more than 11 and above 15 years of experience. Chart3.5
40
Above 15
.11 - 15
.6 - 10
0 -5
0
5
10
15
20
25
30
35
Table3.6 SALARY WISE CLASSIFICATION OF RESPONDENTS
Salary
No. Of Respondents
Percentage
Below 5000
60
30
5000-10000
40
20
10000-15000
50
25
Above 15000
50
25
Total
200
100
40
41
INTERPRETATION According to the above table 30% of the respondents are having the salary below 5000,and 25% of the respondents respondents have salary between 10000-15000, 25% have salary above 15000. 20% of the respondents have the salare between 5000 and 10000. Chart3.6 30 25 20 15 10 5 0 Below 5000
5000-10000
10000-15000
Above 15000
Table3.7 RESPONDENTS OPINION ON PROMOTION
42
Promotion
No. Of Percentage Respondents
Highly Satisfied
70
35
Satisfied
56
28
Moderately Satisfied
50
25
Dissatisfied
24
12
Total
200
100
INTERPRETATION From the above table it is interpreted that 35% of the respondents are highly satisfied with the promotion activities,28% of the respondents are satisfied by the
promotion activities,25% are moderately satisfied and
the least 12% are dissatisfied by the promotion activities. Chart3.7
12%
35%
25% 28%
Table3.8 RESPONDENTS OPINION ON MEDICAL FACILITY
43 Medical Facility
No. Of Respondents
Percentage
Highly Satisfied
60
30
Satisfied
56
28
Moderately Satisfied
44
22
Dissatisfied
20
10
Highly Dissatisfied
20
10
Total
200
100
INTERPRETATION From the above table it is interpreted that 30% of the respondents are highly satisfied with the medical facilities,28% of the respondents are satisfied by the medical facilities provided,22% are moderately satisfied and the least 10% are dissatisfied and 10% are highly dissatisfied.by the promotion activities. Chart3.8
44
30 25 20 15 10 5 0 Highly Satisfied
Satisfied
Moderately Satisfied
Dissatisfied
Highly Dissatisfied
Table3.9 RESPONDENTS OPINION ON LEAVE FACILITY
Leave Facility
No. Of Respondents
Percentage
Highly Satisfied
72
36
Satisfied
50
25
Moderately Satisfied
56
28
Dissatisfied
14
7
Highly Dissatisfied
8
4
Total
200
100
INTERPRETATION From the above table it is interpreted that 36% of the respondents are highly satisfied with the leave facilities,25% of the respondents are satisfied by the leave facilities provided,28% are moderately satisfied and dissatisfied
7% are
45 and 4% are highly dissatisfied by the leave facility. Chart3.9 40 35 30 25 20 15 10 5 0
Highly Satisfied
Satisfied
Moderately Dissatisfied Highly Satisfied Dissatisfied
Table3.10 RESPONDENTS OPINION ON REST ROOM FACILITY
Rest room Facility
No. Of Respondents
Percentage
Highly Satisfied
50
25
Satisfied
72
36
Moderately Satisfied
40
20
Dissatisfied
20
10
Highly Dissatisfied
18
9
Total
200
100
46
INTERPRETATION From the above table it is interpreted that 36% of the respondents are satisfied with the rest room facilities, 25% of the respondents are highly satisfied by the rest room facilities provided,20% are moderately satisfied and 10% are dissatisfied and 9% are highly dissatisfied by the rest room facility. Chart3.10
9% 10%
25%
20%
36%
Table3.11 RESPONDENTS OPINION ON TRANSPORTATION FACILITY
47
Transportation Facility
No. Of Respondents
Percentage
Highly Satisfied
52
28
Satisfied
76
38
Moderately Satisfied
36
18
Dissatisfied
16
8
Highly Dissatisfied
16
8
Total
200
100
INTERPRETATION From the above table it is interpreted that 38% of the respondents are satisfied with the transportation facilities, 28% of the respondents are highly
satisfied by the transportation facilities provided,18% are
moderately satisfied and
8% are dissatisfied and 8% are highly
dissatisfied by the transportation facilities Chart3.11
40 35 30 25 20 15 10 5 0 Highly Satisfied
Satisf ied
Moderately Dissatisfied Highly Satisf ied Dissatisfied
Table3.12 RESPONDENTS OPINION ON SAFETY EQUIPMENT FACILITY
48
Safety Equipment Facility
No. Of Respondents
Percentage
Highly Satisfied
60
30
Satisfied
50
25
Moderately Satisfied
30
15
Dissatisfied
40
20
Highly Dissatisfied
20
10
Total
200
100
INTERPRETATION From the above table it is interpreted that 30% of the respondents are
highly satisfied with the safety equipment facilities, 25% of the
respondents are satisfied by the safety equipment facilities provided,20% are dissatisfied and 15% aremoderately satisfied and 10% are dissatisfied by the safety equipment facilities.
49 Chart3.12
30 25 20 15 10 5 0
Table3.13
Highly Satisfied
Satisfied
RESPONDENTS
Moderately Dissatisfied Highly Satisfied Dissatisfied
OPINION
ON
ADVANCE
PAYMENTMENT FACILITY
Advanced Payment Facility
No. Of Respondents
Percentage
Highly Satisfied
44
22
Satisfied
60
30
Moderately Satisfied
56
28
Dissatisfied
20
10
Highly Dissatisfied
20
10
Total
200
100
50
INTERPRETATION From the above table it is interpreted that 30% of the respondents are satisfied by the advance payment facilities, 28% of the respondents are moderately satisfied by advance payment facilities provided,22% are highly satisfied and 10% are dissatisfied and 10% are highlydissatisfied by the advance payment facilities. Chart3.13 35 30 25 20 15 10 5 0 Highly Satisfied
Satisfied
Moderately Satisfied
Dissatisfied
Highly Dissatisfied
Table3.14 RESPONDENTS OPINION ON RELATIONSHIP WITH SUPERIORS
51
Relationship with Superior
No. Of Respondents
Percentage
Excellent
96
48
Satisfactory
56
28
Good
44
22
Poor
4
2
Total
200
100
INTERPRETATION From the above table it is interpreted that 48% of the respondents feel excellent in case of relation ship with the superior, 28% feel satisfactory, 22% feel good and the least 2% feel poor relation ship with superior. 50 Chart3.14 45 40 35 30 25 20 15 10 5 0
Excellent
Satisfactory
Good
Poor
52
Table3.15 RESPONDENTS OPINION ON SOCIAL SECURITY
Social security Facility
No. Of Respondents
Percentage
Highly Satisfied
64
32
Satisfied
60
30
Moderately Satisfied
40
20
Dissatisfied
36
18
Total
200
100
53 INTERPRETATION From the above table it is interpreted that 32% of the respondents are highly satisfied by the social securities, 30% of the respondents are satisfied by the social securities provided,20% are moderately satisfied & 18% are dissatisfied and 10% are dissatisfied by the social securities provided. Chart3.15
18% 32%
20%
30%
Table3.16 RESPONDENTS OPINION ON WORKING OF TRADE UNION
54
Working of Trade union
No. Of Respondents
Percentage
Highly Satisfied
76
38
Satisfied
50
25
Moderately Satisfied
56
28
Dissatisfied
24
12
Total
200
100
INTERPRETATION From the above table it is interpreted that 38% of the respondents are highly satisfied by the working of Trade union, 28% of the respondents are moderately satisfied by the working of Trade union,25% are satisfied, 12% are dissatisfied. Chart3.16
55
RESPONDENTS OPINION ON POLICY AND ADMINISTRATION Table3.17
Policy and Administration
No. Of Respondents
Percentage
Highly Satisfied
72
36
Satisfied
44
22
Moderately Satisfied
58
29
Dissatisfied
20
10
Total
200
100
56
INTERPRETATION From the above table it is interpreted that 36% of the respondents are highly satisfied by the policy and administration of the company, 29% of the respondents are moderately satisfied by the policy and administration of the company,22% are satisfied,10% are dissatisfied. Chart3.17
40 35 30 25 20 15 10 5 0
Highly Satisfied
Satisfied
Moderately Satisfied
Dissatisfied
Table3.18 RESPONDENTS OPINION ON BONUS
57
Bonus
No. Of Respondents
Percentage
Highly Satisfied
72
36
Satisfied
56
28
Moderately Satisfied
48
24
Dissatisfied
24
12
Total
200
100
INTERPRETATION From the above table it is interpreted that 36% of the respondents are highly satisfied by the bonus payment of the company, 28% of the respondents are satisfied,24% are moderately satisfied,12% are 40
dissatisfied by the bonus payment. 35
Chart3.18 30 25 20 15 10 5 0
Highly Satisfied
Satisfied
Moderately Satisfied
Dissatisfied
58
Table3.19 RESPONDENTS OPINION ON PF
PF
No. Of Respondents
Percentage
Highly Satisfied
50
25
Satisfied
64
32
Moderately Satisfied
50
25
Dissatisfied
36
18
Total
200
100
59
INTERPRETATION From the above table it is interpreted that 32% of the respondents are satisfied by the PF payment of the company, 25% of the respondents are highly satisfied,25% are moderately satisfied,18% are dissatisfied by the PF payment. Chart3.19
18%
25%
25% 32%
Table.3.20 RESPONDENTS OPINION ON HRA HRA
No. Of Respondents
Percentage
Highly Satisfied
72
36
Satisfied
50
25
Moderately Satisfied
58
29
Dissatisfied
20
10
Total
200
100
60
INTERPRETATION From the above table it is interpreted that 36% of the respondents are highly satisfied by the HRA of the company, 29% of the respondents are moderately satisfied,25% are satisfied,10% are dissatisfied by the HRA payment. Chart.3.20
40 35 30 25 20 15 10 5 0
Highly Satisfied
Satisfied
Moderately Satisfied
Dissatisfied
Table.3.20 RESPONDENTS OPINION ON TA
61
TA
No. Of Respondents
Percentage
Highly Satisfied
60
30
Satisfied
72
36
Moderately Satisfied
38
19
Dissatisfied
30
15
Total
200
100
INTERPRETATION From the above table it is interpreted that 36% of the respondents are satisfied by the TA of the company, 30% of the respondents are highly satisfied,19% are moderately satisfied,15% are dissatisfied. 40 Table.3.20 35 30 25 20 15 10 5 0
Highly Satisfied
Satisfied
Moderately Satisfied
Dissatisfied
62
Table3.21 RESPONDENTS OPINION ON FESTIVAL ALLOWANCE
Festival Allowance
No. Of Respondents
Percentage
Highly Satisfied
64
32
Satisfied
70
35
Moderately Satisfied
42
21
Dissatisfied
24
12
Total
200
100
63
INTERPRETATION From the above table it is interpreted that 35% of the respondents are satisfied by the Festival allowance, 32% of the respondents are highly satisfied,21% are moderately satisfied,12% are dissatisfied by the Festival allowance. Chart3.21
35 30 25 20 15 10 5 0
Highly Satisfied
Satisfied
Moderately Satisfied
Dissatisfied
Table3.22 RESPONDENTS OPINION ON ESI
64
ESI
No. Of Respondents
Percentage
Highly Satisfied
60
30
Satisfied
66
33
Moderately Satisfied
56
28
Dissatisfied
18
9
Total
200
100
INTERPRETATION From the above table it is interpreted that 30% of the respondents are highly satisfied by the ESI, 33% of the respondents are satisfied,28% are moderately satisfied,9% are dissatisfied by the ESI.. 35 Chart3.22 30 25 20 15 10 5 0
Highly Satisfied
Satisfied
Moderately Satisfied
Dissatisfied
65
Table3.23 RESPONDENTS OPINION ON VENTILLATION
Ventillation
No. Of Respondents
Percentage
Highly Satisfied
60
30
Satisfied
70
35
Moderately Satisfied
42
21
Dissatisfied
28
14
Total
200
100
66
INTERPRETATION From the above table it is interpreted that 35% of the respondents are satisfied by the ventillation, 30% of the respondents are highly satisfied, 21% are moderately satisfied, and 14% are dissatisfied by the ventillation. Chart3.23
35 30 25 20 15 10 5 0
Highly Satisfied
Satisfied
Moderately Satisfied
Dissatisfied
Table3.24 RESPONDENTS OPINION ON TEMPERATURE
Temperature
No. Of Respondents
Percentage
Highly Satisfied
52
26
Satisfied
64
32
Moderately Satisfied
50
25
Dissatisfied
34
17
Total
200
100
67
INTERPRETATION From the above table it is interpreted that 32% of the respondents are satisfied by the Temperature in the company, 26% of the respondents are highly satisfied, 25% are moderately satisfied, and 17% are dissatisfied by the temperature. Chart3.24
17% 26%
25%
32%
Table3.25 RESPONDENTS OPINION ON LIGHTNING
68
Lightning
No. Of Respondents
Percentage
Highly Satisfied
68
34
Satisfied
64
32
Moderately Satisfied
44
22
Dissatisfied
24
12
Total
200
100
INTERPRETATION From the above table it is interpreted that 32% of the respondents are highly satisfied by the lighting,32% of the respondents are satisfied, 22% are moderately satisfied, and 12% are dissatisfied by the lightning. 35 Chart3.25 30 25 20 15 10 5 0
Highly Satisfied
Satisfied
Moderately Satisfied
Dissatisfied
69
Table3.26 RESPONDENTS OPINION ON SPACE
Space
No. Of Respondents
Percentage
Highly Satisfied
72
36
Satisfied
56
28
Moderately Satisfied
52
26
Dissatisfied
20
10
Total
200
100
70
INTERPRETATION From the above table it is interpreted that 36% of the respondents are highly satisfied by their spacing,28% of the respondents are satisfied, 26% are moderately satisfied, and 10% are dissatisfied by the spacing in the company. Chart3.26 35 30 25 20 15 10 5 0
Highly Satisfied
Satisfied
Moderately Satisfied
Dissatisfied
Table3.27 RESPONDENTS OPINION ON SEATING ARRANGEMENT
71
Seating arrangement
No. Of Respondents
Percentage
Highly Satisfied
64
32
Satisfied
60
30
Moderately Satisfied
60
30
Dissatisfied
16
8
Total
200
100
INTERPRETATION From the above table it is interpreted that 32% of the respondents are highly satisfied by their seating arrangement,30% of the respondents are satisfied, 30% are moderately satisfied, and 8% are dissatisfied by their 35
seating arrangement in the company. 30
Chart3.27 25 20 15 10 5 0 Highly Satisfied
Satisfied
Moderately Satisfied
Dissatisfied
72
Table3.28 CHI – SQUARE TEST FOR SIGNIFICANCE Ho : There is no significant difference between category of workers and their relationship with superiors. H1 : There is a significant difference between category of workers and their relationship with superiors.
Category Management
Excellent
Satisfactory
Good
Poor
Total
Professional Front office
28
17
10
5
60
Staff Accountants
20
17
14
5
52
20
11
10
5
50
12
11
10
5
38
80
56
44
20
200
Agents
Total
Degree of freedom = (Row – 1) x (Column – 1) = (4 – 1) x (4 – 1)
73 = 3x3 =9
Level of significance = 5% Table Value
= 5.251
Calculated Value = 16.919 That is, table value is less than calculated value. So we reject Ho From the chi – square test we get there is significant difference between category of workers and their opinion about working condition.
74
Table3.29 CHI – SQUARE TEST FOR SIGNIFICANCE Ho : There is no significant difference between category of workers and working of trade union. H1 : There is a significant difference between category of workers and working of trade union. Category
Excellent
Satisfactory
Good
Poor
Total
Management
34
10
11
5
60
16
17
14
5
52
16
9
20
5
50
10
10
13
5
38
76
46
58
20
200
Professional Front office Staff Accountants Agents
Total
Degree of freedom = (Row – 1) x (Column – 1) = (4 – 1) x (4 – 1) = 3x3 =9 Level of significance = 5% Table Value
= 17.371
Calculated Value = 16.919 That is, table value is greater than calculated value. So we accept Ho
75 From the chi – square test we get there is no significant difference between category of workers and the trade policy.
Table3.30
ANOVA Null hypothesis Ho: (Ho there is no significant difference between the advance payment and experience.) Alternative hypothesis H1: (there is significant difference between the advance payment and experience.) Experience Highly
Satisfied
satisfied
Moderately Dissatisfied
Highly
satisfied
Dissatisfied
Total
0-5yr
32
18
13
5
4
72
6-10yr
28
17
14
4
5
68
11-15yr
10
9
5
4
2
30
Above15yr 11
10
5
4
0
30
Total
54
37
17
11
200
81
SST= Sum of squares of all values –T2/N =1356. SSC= (∑x1)2/n1+((∑x2)2/n2+.....-T2/N =814. MSC=SSC/c-1=203.5 SSR=(∑x1)2/n1+((∑x2)2/n2+.....-T2/N =321.6 MSR= SSR/r-1 =107.2 SSE=SST-SSC-SSR =220.4 MSC=SSE/(c-1)(r-1)
76 =18.36 ANOVA TABLE Sources
of Sum of squares
variation Between
814
Degrees freedom 4
of Mean squares 203.5
columns Between rows
322.6
3
107.2
Residual
220.4
12
18.36
Total
1357
19
------
F FC=203.5/18.36 =11.08
FR=107.2/18.36 =5.83
Between columns Degree of freedom=(4,12) Table value of F=3.26 Calculated value of F=203.5 which is greater than table value 3.26. So the null hypothesis is accepted. Hence there is nosignificant difference in the mean of the given samples. Between Rows Degree of freedom=(3,12) Table value of F=3.49 Calculated value of F=107.2 which is greater than table value 3.49. So the null hypothesis is accepted. Hence there is no significant difference in the mean of the given samples.
77
Table3.31 WEIGHTED AVERAGE Perception regarding the welfare measures. Features
Bonus
PF
HRA
TA
Festival
Perception
HS
S
MS DS Total
level Wtd:score
4
3
2
1
Wtd:Score
14
84
48
12
288
Respondents
4 36
28
24
12
100
Wtd:Score
10
96
50
18
264
Respondents
0 25
32
25
18
100
Wtd:Score
14
75
58
10
287
Respondents
4 36
25
29
10
100
Wtd:Score
12
10
38
15
281
Respondents
0 30
8 36
19
15
100
Wtd:Score
12
11
38
12
289
Respondents
8 32
1 37
19
12
100
Wtd:Score
12
99
56
9
284
Respondents
0 30
33
28
9
100
Allowance ESI
Wtd:Avg Rank
2.88
2
2.64
6
2.87
3
2.81
5
2.89
1
2.84
4
78
Interpretation Rank1 =Festival Allowance Rank2 =Bonus Rank3 =HRA Rank4 =ESI Rank5 =TA Rank6 =Provident fund
Inference The weighted average findings shows that Festival Allowance and Bonus is ranking first and second offered by the company. HRA and ESI is ranking third and fourth respectively. On the other hand, Provident Fund is the last.
79
Table3.32
Correlation of coefficient analysis Calculation showing the degree of relation ship between age and relation ship with the superior. i
Xi
Yi
(Xi- )
(Yi- )
(Xi- )2
(Yi- )2
(Xi- )(Yi-
1
40
48
0
28
0
400
) 0
2
62
28
22
0
484
0
0
3
58
22
18
-26
324
676
468
4
40
22
0
-26
0
676
0
Total
200
120
40
20
808
1752
468
rxy=N∑XY-(∑X)(∑Y)/sqrt(N∑X2-(∑X)2sqrt(N∑Y2-(∑Y)2 =1072/ =1072/4504.53 =0.23 There is close positive correlation between age and relation with the superior.
80
CHAPTER – 4
81
FINDINGS, RECOMMENDATIONS & CONCLUSION
CHAPTER 4 4.1 FINDINGS •
It was found that the majority 31% of the respondents are in the age group of 31-40 ,29% belomgs to the age group 41-50. The percentage of respondents below 30 and above 50 years constitutes 20% only.
•
It was found that 67% of the respondents of Star Health and Alleid Insurance Co.Ltd is male and 33% are female.
•
Most of the respondents(68%) of Star Health and Alleid Insurance Co.Ltd is married and 32% are single.
•
It was found that 36% of the respondents are having the experience upto 5 years, 34% of the respondents have the experience of 6-10
82 years and 15% of the respondents are having more than 11 and above 15 years of experience. •
It
was
found
that
60%
of
the
workers
are
management
professional,26% are front office staff, 25% are accountants, and 19% are agents. •
In case of salary 30% of the respondents are having the salary below 5000,and 25% of the respondents respondents have salary between 10000-15000, 25% have salary above 15000. 20% of the respondents have the salare between 5000 and 10000.
•
From the study it was found that 35% of the respondents are highly satisfied with the promotion activities,28% of the respondents are satisfied by the promotion activities,25% are moderately satisfied and the least 12% are dissatisfied by the promotion activities.
•
Regarding the medical facilities 30% of the respondents are highly satisfied with the medical facilities,28% of the respondents are satisfied by the medical facilities provided,22% are moderately satisfied and the least 10% are dissatisfied and 10% are highly dissatisfied.
•
The study reveals that 36% of the respondents are highly satisfied with the leave facilities,25% of the respondents are
satisfied by
the leave facilities provided,28% are moderately satisfied and 7% are dissatisfied and 4% are highly dissatisfied by the leave facility. •
It was found that 36% of the respondents are
satisfied the rest
room facilities, 25% of the respondents are highly satisfied by the rest room facilities provided,20% are moderately satisfied and 10% are dissatisfied and 9% are highly dissatisfied by the rest room facility. •
As far as transportation facility is concerned 38% of the respondents are satisfied, 28% of the respondents are highly
satisfied by the
transportation facilities provided,18% are moderately satisfied and 8% are dissatisfied and 8% are highly dissatisfied by the transportation facilities.
83 •
30% of the respondents are
highly satisfied with the safety
equipment facilities, 25% of the respondents are satisfied by the safety equipment facilities provided,20% are dissatisfied and 15% aremoderately satisfied and 10% are dissatisfied by the safety equipment facilities •
Regarding safety equipment facilities,30% of the respondents are highly satisfied with the safety equipment facilities, 25% of the respondents are satisfied by the safety equipment facilities provided,20% are dissatisfied and 15% aremoderately satisfied and 10% are dissatisfied by the safety equipment facilities
•
It is proved that 30% of the respondents are satisfied by the advance payment facilities, 28% of the respondents are moderately satisfied by advance payment facilities provided,22% are highly satisfied and 10% are dissatisfied and 10% are highlydissatisfied by the advance payment facilities.
•
The study indicates that 48% of the respondents feel excellent in case of relation ship with the superior, 28% feel satisfactory, 22% feel good and the least 2% feel poor relation ship with superior.
•
As far as social securities is concerned 32% of the respondents are highly satisfied by the social securities, 30% of the respondents are satisfied by the social securities provided,20% are moderately satisfied & 18% are dissatisfied and 10% are dissatisfied by the social securities provided.
•
It was found that 38% of the respondents are highly satisfied by the working of Trade union, 28% of the respondents are moderately satisfied by the working of Trade union,25% are satisfied, 12% are dissatisfied.
•
The study reveals that 36% of the respondents are highly satisfied by the policy and administration of the company, 29% of the respondents
are
moderately
satisfied
by
the
policy
and
administration of the company,22% are satisfied,10% are dissatisfied.
84 •
The study reveals that 36% of the respondents are highly satisfied by the bonus payment of the company, 28% of the respondents are satisfied,24% are moderately satisfied,12% are dissatisfied by the bonus payment
•
It was found that 32% of the respondents are satisfied by the PF payment of the company, 25% of the respondents are highly satisfied,25% are moderately satisfied,18% are dissatisfied by the PF payment
•
Regarding HRA 36% of the respondents are highly satisfied by the HRA of the company, 29% of the respondents are moderately satisfied,25% are satisfied,10% are dissatisfied by the HRA payment
•
As far as TA is concerned 36% of the respondents are satisfied by the TA of the company, 30% of the respondents are highly satisfied,19% are moderately satisfied,15% are dissatisfied.
•
It was found that 35% of the respondents are Festival
allowance,
32%
of
the
satisfied by the
respondents
are
highly
satisfied,21% are moderately satisfied,12% are dissatisfied by the Festival allowance •
Regarding ESI 30% of the respondents are highly satisfied by the ESI, 33% of the respondents are satisfied,28% are moderately satisfied,9% are dissatisfied by the ESI.
•
35% of the respondents are satisfied by the ventillation, 30% of the respondents are highly satisfied, 21% are moderately satisfied, and 14% are dissatisfied by the ventillation.
•
Considering temperature 32% of the respondents are satisfied by the Temperature in the company, 26% of the respondents are highly satisfied, 25% are moderately satisfied, and 17% are dissatisfied by the temperature
•
It was found that 32% of the respondents are highly satisfied by the lighting,32% of the respondents are satisfied, 22% are moderately satisfied, and 12% are dissatisfied by the lightning.
85 •
It was found that 36% of the respondents are highly satisfied by their spacing,28% of the respondents are satisfied, 26% are moderately satisfied, and 10% are dissatisfied by the spacing in the company
•
Regarding the seating arrangement 32% of the respondents are highly satisfied by their seating arrangement,30% of the respondents are satisfied, 30% are moderately satisfied, and 8% are dissatisfied by their seating arrangement in the company.
•
From the chi – square test it is observed that there is no significant difference between category of workers and the trade policy.
•
From the chi – square test it reveals that there is significant difference between the category of workers and their opinion about working condition.
•
From the Anova table we get that the null hypothesis is accepted. Because there is no significant difference in the mean of the given samples between rows and between columns.
•
The weighted average findings shows that Festival Allowance and Bonus is ranking first and second offered by the company. HRA and ESI is ranking third and fourth respectively On the other hand, Provident Fund is low.
•
The correlation analysis shows that there is close positive correlation between age and relation with the superior.
4.2 RECOMMENDATIONS From the study we can found that few employees are not fully satisfied with the welfare measures provided by the company. The management should
86 consider this and necessary arrangements should be made to provide adequate facilities to improve the efficiency of the workers. •
We can also understand from the findings that there are few employees not being satisfied with the medical facilities available in the organization. The management should pay kind attention in this regard to improve 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 organization.
•
The management should take appropriate action to improve the transportation facilities as some of the employees are dissatisfied by the transportation facilities provided by the organization.
•
The company can also establish a council constituting of members from all the departments to device the welfare measures and to make the employees much more satisfied.
•
Library facility should be provided to the employees for improving their knowledge.
•
The company should provide necessary lunch room and rest room facilities to all the employees since some employees are highly dissatisfied by the rest room facilities..
4.3 CONCLUSION
87 The researcher is benefited with the study, because the topic will help the management to get an effective feedback from the employees about the employee welfare measures prevailing in the organization. It also provides researcher an opportunity to expose with functions of the human resource department and able to well versed with statutory and non statutory welfare measures adopted in the organisation. The study provides various suggestions to the management including various welfare measures to enhance level of satisfaction of employees in the STARHEALTH AND ALLIED INSURANCE Co.LTD, . At the same time employees got opportunity to express their view about various components of the satisfaction level prevailing in STARHEALTH AND ALLIED INSURANCE Co.LTD, . It is also expected that improvement will be made and appropriate actions will be taken based on the suggestions and opinions given by the respondents and researcher.
88
APPEN DIX
QUESTIONNAIRE
89 A Study on Employee Welfare Measures with Reference to Star health And Allied Insurance Co.Ltd 1. Name 2. Age 3. Sex
: Male
Female
4. Marital Status 5. Designation 6. Salary :Below 5000
5000-10000
10000-15000
Above
15000 7. Work Experience 8. How do you feel about the policy & administration of your Company in welfare activities? Highly satisfied
Satisfied
Average
Dissatisfied
Highly dissatisfied 10. Are you satisfied with the promotion facilities provided by the company? Highly satisfied
Satisfied
Average
Dissatisfied
Highly dissatisfied 11. Give your opinion about medical facility provided by the company? Highly satisfied Dissatisfied
Satisfied
Average
Highly dissatisfied
12. Suggest your opinion about social securities? Highly satisfied
Satisfied
Average
Dissatisfied
Highly dissatisfied 13. Mark the level of satisfaction in transportation facilities?
90 Highly satisfied Dissatisfied
Satisfied
Average
Highly dissatisfied
14. Suggest your opinion of safety equipments provided in the organization? Highly satisfied
Satisfied
Average
Dissatisfied
Highly dissatisfied 15. Give your opinion about rest room facilities? Highly satisfied
Satisfied
Average
Dissatisfied
Highly dissatisfied 16. Suggest your opinion about advance payment? Highly satisfied
Satisfied
Average
Dissatisfied
Highly dissatisfied 17. Give your opinion about leave facilities? Highly satisfied
Satisfied
Average
Dissatisfied
Highly dissatisfied 18. How do you rate your relation ship with your superiors? Highly satisfied
Satisfied
Average
Dissatisfied
Highly dissatisfied 19. Mark your satisfaction regarding welfare measures in the following table.
Welfare Measures
Highly satisfied
Bonus
Satisfied
Moderately satisfied
Dissatisfied
91
PF HRA Festival Allowance TA ESI 20.Tick your satisfaction regarding the welfare measures in the following table Welfare Measures
Highly
Satisfied
satisfied
Moderately
Dissatisfied
satisfied
Ventillation Temperature Seating arrangement Lighting Space for working
BIBLIOGRAPHY
1. Human Resource Management (12th Edition) by C.B.Mamoria. 2. Human Resource Management (8th Edition ) by Gary Dessler. 3. Human Resource Management ( 6th Edition) by David. A . Decenzo & Stephen. P.Robbins. 4.Research Methodology (5th Edition ) by C.R. Kothari.
92
5. Research Methodology ( 5th Edition) by Donald . L. McBurney.
WEBSITES www.indianmba.com www.star health.com www. hrresources. Com
