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SUBMITTED IN PARTIAL FULFILLMENT OF REQUIREMENT FOR THE AWARD OF IN DIPLOMA IN BUSINESS MANAGEMENT TO RASHTRASANT TUKDOJI MAHARAJ NAGPUR UNIVERSITY, NAGPUR FOR THE ACADEMIC YEAR 2009-10
Bank of profile
Research Methodology
Bibliography
Questionnaire.
EXECUTIVE SUMMERY
Welfare means faring or doing well. It is a comprehensive term, and refers to the physical, mental, moral and emotional well-being of an individual. Further, the term welfare is a relative concept, relative in time and space. It therefore, varies from time to time, region to region and from country to country Bank of India is one of the premier banks in the country providing welfare facility in addition to a good salary. Bank is spending lot of money on the employee welfare. The expenses spent by the organization are less in return to the benefits which it receives from the employees hard work. Welfare facility provided by organization is unique for all the employees. The only difference is that the top level officers receive some additional facility along with routine one. With the help of the project on attempt is made to study the welfare measure provided to employees. What is the procedure, time required for sanctioning welfare facility and such other basis policies of the organization. The study is based on the information collected from respondent through questionnaire. The data analyzed is presented in the form of graphs and on the basis of that conclusion are made. In the last, the required suggestions are given. After analyzing the data it is found that the employees are satisfied with the welfare facilities provided to them by the bank.
CHAPTER 1: INTRODUCTION
Welfare is based concept employees welfare is a comprehensive term including various services, benefits and facilities offered by the employees thought such a generous fringe benefits the employers makes life worth living for employees the welfare amenities extend in addition to normal wages & other economic rewards available to employees as per the legal provision. The various welfare measures provided by the employees will have immediate impart on the health, physical & mental efficiency, alertness, moral & overall efficiency of the workers & there b contribution to the highest productivity. Welfare measures may also be provided by the government trade unions, and non-government agencies in addition to the employer. The basics purpose of welfare facility is to enrich the life of employees and keep them happy and contended. 1) SCOPE The labor investigation committee- anything done for intellectual physical, moral and economic betterment of the workers, weather, by employers or government or other agencies over and above what is normally expected on the part of the contracted benefits for which workers may have bargained. The committee on labour welfare- today, welfare is generally accepted by employers. The state steps into widen the area of the applicability only. Welfare is being looked at as social right of workers. The committee described it as a social security measures that contribute to improve the condition under which workers are employed in India. (1969 report) labour welfare includes both statutory as well as non statutory activities undertaken by the employers, trade union & both the central & state government for the physical & mental development of workers.
2) IMPORTANCE The benefits are of great importance to the worker which he is unable to secure by himself. The scheme of labour welfare may be regarded as a wise investment because these would be the profitable returns in the form of great efficiency. The working environment in a factory adversely affects excessive heat or cold, noise, fumes, dust or lack of sanitation and pure air. Such oppressive conditions create health problems for workers. These have to be contained through preventive steps aimed at improving the lot of workers. Another reason in fovar of welfare work is called as social invasion of the factory. Workers fare lot of adjustment problem where they take up factory work. The longest environment, noisy machines, Slum area. To escape from such trying condition, the worker signs of indiscipline. Such changes known as the social invasion of the factory, call for extra inducements in the workplace. In addition to normal wages, so that the workers begin to enjoy a fuller and richer life. 3) OBJECTIVES OF THE WELFARE PROGRAMMES The important objectives of the welfare are. 1) To boost up employees moral 2) To motivate the employees by identifying and satisfying these unsatisfied needs. 3) To provide qualitative work environment and work life 4) To provide security to the employees against social risks like old age benefits and maternity benefits 5) To protect the health of the employees and to provide safety to the employees against accidents
4) TYPES OF WELFARE FACILITY Welfare service may broadly be classified into two categories 1) Intramural activities which are provided within the establishment such as latrines & urinals, crches, rest centers, canteens, uniform, library, medical aid, subsidized food, shift allowance etc. 2) Extramural activities which are undertaken outside the establishment such as family planning, child welfare, co-operative stores, credit societies, vocational guidance, holiday hams, leaves travel facilities, transport to and from the place of work etc. INTRAMURAL & EXTRAMURAL WELFARE ACTIVITIES Intramural Drinking water Toilet Crches Washing & bathing facility Rest shelter Uniform & protective clothing Recreation facility Canteen Subsidies food Medical aid Extramural Housing Educational Facility Maternity benefit Transportation Sport facility Leave travel Vocational training Holiday homes Co-operative stores Fairprices shops Social insurance Labour welfare may also be divided into two categories 1) Statutory welfare work comprising the legal provision in various pieces of labour legislation 2) Voluntary welfare work includes those activities which are undertaken by employers for there worker voluntarily. Many employers, nowadays, after the following welfare amenities voluntarily 1) EDUCATION A scheme of workers education was envisaged on an all India basis by the government of India, way back in 1957. After assessing the scheme, the
4)RECREATION Through there is no statutory stipulation in this area progressive employers both in the public and private sector consciously offered facility for recreation sports and cultural activities for example- companies like NIIT and TISCO have appointed a chief fun officer to take care of parties and functions held on every Friday. In addition to holiday packages, dating allowances,
5)OTHER FACILITY These are basically intended to improve the comfort level of workers while at work & include the following Canteen, restroom and lunchroom Washing facility, medical aid, leaves travel Consumer cooperative stores.
B) DEPOSITED SCHEME 1) STAR SURAKSHA SAVING BANKS DEPOSIT SCHEME:An unique account for individual (excluding NRI) with host of benefit including accidental death benefit and one DD free of cost every month which helps to remit money to our door once every month. The minimum balance is kept at Rs.500/2) STAR BENEFIT CURRENT DEPOSIT SCHEME A unique product for every one especially for trader & manufactures with 2 tree DDs in a month. This helps in purchasing goods/ row material and facility of depositing cheque at any branch of BOI having BOI Br. For its clearing at question through banks star speed cheque collection scheme free at cost which save time as well as cost. The minimum AQB is kept at Rs.5000/-
3) STAR PENSION LOAN For regular pensions or family pensions drawing regular monthly pension through bank.
BANKS SUBSIDIARIES/ ASSOCIATED REGIONAL RURAL BANKS (RRBS) Regional Rural Banks sponsored by our banks in 45 districts in the state of M.P., Orissa, Gharkahnd & Maharashtra BOI SHAREHOLDING LTD A joint venture with Bombay Stock Exchange to manage the BSE clearing house activity SECURITY TRADING CORPORATION OF INDIA LTD Bank is the single largest stakeholder with 29.95% stake in its equity BANK OF INDIA (TANZANIA LTD) The wholly owned subsidiaries was incorporated on 16.07.07 first branch of the subsidiary was opened in Das-es-salaam on 22.04.08
1) OFFICIATING ALLOWANCE
2) DEPUTATION ALLOWANCE if an officer is deputed to serve as a member of the facility in any teaching establishment of the bank he shall be eligible to a deputation allowance at 4% of his BP subject to a maximum of Rs.750/- pm. however, if deputed to an outside organization and does not opt for the scale of that organization then the deputation allowance will be 7.75% of the basis pay subject to a maximum of Rs 1500pm
3) MEDICAL AID The reimbursement of bed charges, zonal manager has to authorized, for sanctioning charges for officers for treatment of self, up to Rs.1000/- for officer in scale IV & above and up to Rs.750/- for officer up to scale III and for charges incurred over the aforementioned amount zonal authority may recommended to H.O. for reimbursement 100% reimbursement for office who dies in harness. Bed charge on hospitalization involving admission in ICU/ICCU, scale IV and above Rs.2000/- per day and up to scale III Rs.1500/- Per day.
4) DEPUTATION TO TRAINING CENTER I) Load Trainees:- Rs.75/- per day for Mumbai & Delhi (Noida) Rs.60/- per day for the other centers
CONSOLIDATED BASIS. Eligible officer who own and use a vehicle for banks works have option to claim reimbursement of traveling expenses either or monetary basis or in term of consumption of petrol per month. Optioned can be exercised only once and will not be allowed to be change in type of vehicle and/ or place of posting. Promotee officers during the probationary period and DRUs during the first year of probation are not eligible. However, they may be reimbursed actual expenses incurred by them.
RESEARCH DESIGN A research design is the arrangement of condition for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. Infact, the design of research study is descriptive as it is intended to describe to factor study is descriptive as it is intended to describe to factors that management is likely to be interested in such as employees feeling as opinion towards organization, and also about organizational employees welfare and organizational establishment RESEARCH INSTRUMENT Questionnaires are used as a research instrument in the study. Primary data is collected through personal interview method. Method of sampling Probability sampling method is used for the study, as it is also known as random sampling under this sampling design, every item of the universe has an equal channel of inclusion in the sample. Random sampling from a finite population refers to that method of sample selection which gives each possible sample combination an equal probability of being picked up and each item in the entire population to have an equal chance of being included in the sample. Thos applies to sampling without replacement i.e. once an item is selected for the sample it looks can not appear in the sample again.
DATA COLLECTION PRIMARY DATA Personal interview method is used for collected information from the employees through questionnaire SECONDARY DATA Secondary data is collected from referring books and websites of Bank of India THE SAMPLE Questionnaire were prepared by keeping in mind the facility that are extended to employees the research instrument used has helped personally knowing the feeling of employees. For completing the project study more emphasis is given an primary source of data and its analysis for maintaining the accuracy, reliability and for good result regarding the project study undertaken.
4) TABULATION Tabulation is the process of summarizing row data & displaying the same in compact form (i.e. in the form of statistical tables) for further analysis. In a broader sense, tabulation is an orderly arrangement of data in columns & rows.
DATA INTERPRETATION
Ques 1: How many Welfare facility are you availing on routing basis?
0%
40% 50 %
1 to 5 5 to 10 1 & above 0
1 0%
Observation All the employees of Bank of India availing routine Welfare Facility 50% employees say that they are availed 10 & above Welfare Facility to 10 Welfare facility respectively. and reset of 40% & 10% employees saying that they are availing 1 to 5 and 5
20 %
1 to 5 Not Availed
80%
Observation 80% employees says that they are availing 1 to 5 special welfare facility rested 20% employees are not availing any special welfare facility.
Ques3: How much time it will take sanctioning a routine welfare facility?
Observation From the chart it is observed that, all employees says that for sanctioning a routine welfare facility time require is 1 to 2 week.
Ques 4: How much time it will take sanctioning a special welfare facility?
1 to 2 week 3 week
90%
Observation From the above chart it is observed that 90% employees say that for sanctioning a special welfare facility time required is 1-2 week. & 10% employees says that time required for sanctioning welfare facility is 3 week
20
Making an application submit proof & immidiate sanction it Only application is required
80
Observation 80% employees says that to make the application submit proof & it sanction & rest of 20% employees say that only application is required
10% Make an application submit proof & sanction it Length process 90%
Observation 90% employees says that they have to just apply, submit proof & take approval of higher authority and only 10% employees says that the procedure is lengthy .
10
Highly satisfied
50 40
Observation The 50% employees of the bank are highly satisfied with the procedure of availing routine welfare facility while 40% employees are partly satisfied & the remaining 10% of employees are satisfied.
4% 0 6% 0
Observation The 60% employees of the bank are satisfied with the procedure of availing special welfare facility and remaining 40% employees are highly satisfied.
40 %
6 0%
Do not agree
Observation 60% employees are agreed that the welfare benefits plays as a motivational role. While 40% are highly agree on this issue.
0%
80%
Observation 20% employees say that to add some more welfare facility & 80% employees is not giving any suggestions.
Visit hrmba.blogspot.com for more project reports, presentations, notes etc. All the routine welfare facilities are availed by all the employees in
Bank of India in different proportion. More than 70% employees are availing routine welfare facility an routine basis. More than 30% employees are availing special welfare facility according to the need arise The time required for sanctioning the special welfare facility is maximum 2 week. The employee are not getting in storage facility for outdoor clothing The routine welfare facilities are availed by every one in the organization & time required is also nominal. The process of availing special welfare facility is very lengthy & hence it can be availed by simple process. The employees of Bank of India are highly satisfied with the routine welfare facility, which they are availing on regular basis. The employees of Bank of India are satisfied as they are getting special welfare facility with a simple process.
Suggestion
1) The employees should be provided with storage facility for external clothing
Limitation
1) The study may not cover each & every facility provided by the organization. 2) The result may be depended on the answer received from respondent. 3) The study does not cover entire workforce
CHAPTER 7: BIBLOGRAPHY
Visit hrmba.blogspot.com for more project reports, presentations, notes etc.
BOOK REFFERRED
Sr.no
Authors
year
Tital
Publisher
Pages
V.S.P. Rao
2005
D Excel books
405 ,452
1997
HR.&Pers nnel New Manag o Delhi Research Methodology R.M. New Delhi
446, 447
1985
P.P.ARYA
2002
New Delhi
WEBSITES
CHAPTER 8: QUESTIONNAIRE
PLEASE TICK THE ANSWER OF FOLLOWING QUESTION
2) How many special welfare facility have you availed? A) 1 to 5 B) Not Availed
3) How much time it will take sanctioning routine welfare facility? A) 1 to 2 week B) 2 to 3 week C) 1 to 2 month
4) How much time it will take sanctioning routine welfare facility? A) 1 to 2 week B) 3 week C) 1 to 2 week
A) Making an application submit proof & immediate sanctioning B) Only application is required
6) Briefly explain procedure for availing the special welfare facility? A) Make an application, submit proof of sanction it. B) Lengthy process C) Not availed 7) How much are satisfied about procedure of availing routine welfare facility? A) Highly satisfied B) Partly satisfied C) Satisfied