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Project Report On Employee Welfare and Employee Satisfaction at Larsen and Toubro

For the Partial Fulfillment Of Master Of Management Studies

Submitted by Ms. Priti Tukaram Kmourlekar

Specialization: Human Resource (2011-2013) Roll No: 66

Under the guidance of Prof. Ms. Sharmila Antony

Gahlot Institute of Management Studies & Research, Koperkhairane

Acknowledgement

My sincere thanks and gratitude to our college, Gahlot Institute of Management Studies & Research, Director, Dr. Subhash A. Kulkarni and my project guide Prof. Ms. Sharmila Antony for providing with the necessary support and the timely guidance required for the successful completion of this project. I further express my thanks to Ms. Radhika Menon at Larsen and Toubro for giving me the opportunity to carry out my project in the respective department which has further enhanced my knowledge of this subject both theoretically and practically. Last but not the least, I would also like to thank my parents for their consistent help at all times.

Priti Tukaram Komurlekar

Declaration

I, Ms. Priti Tukaram Komurlekar, the undersigned, a student of Gahlot Institute of management Studies & Research, Koperkhairane, declare that this project report titled Employee Welfare and Employee Satisfaction at Larsen and Toubro was submitted by me in partial fulfillment for the requirement of the course of Master of Management Studies. This is my original work and has not been previously submitted as part of another degree or diploma of another Business school or University. The findings and conclusions of this report are entirely based on my personal study and experience.

Priti Tukaram Komurlekar

Certification

This is to certify that Ms. Priti Tukaram Komurlekar, a student of Gahlot Institute of Management Studies &Research has successfully completed the summer internship project entitled Employee Welfare and Employee Satisfaction at Larsen and Toubro in the partial fulfillment of requirement for the completion of Master of Management Studies as prescribed by the University of Mumbai.

____________________ Internal Project Guide

_______________________ Director Date: __________________

External Examiner

Date

Company Certificate

Executive Summary

Welfare Relates to taking care of the well being of workers by employers, trade unions, governmental and non-governmental organizations. Referred to as betterment work for employees. Welfare includes anything that is done for the comfort and improvement of employees and is provided over and above the wages. Welfare helps in keeping the morale and motivation of the employees high so as to retain the employees for longer duration, which helps the organization to achieve its goals. Larsen & Toubro Limited or L&T is an Indian multinational corporation headquartered in Mumbai, Maharashtra, India. The company has business interests in engineering, construction, manufacturing, information technology and financial services. L&T is India's largest engineering and construction company with a dominant presence in India's infrastructure, power, hydrocarbon, machinery and railway related projects. In recent years, L&T has expanded its global presence and international projects Larson and Toubro provided various welfare policies to its employees. In primary data survey was conducted for employee satisfaction level and found that most of employees were satisfied with welfare policies of Larson and Toubro. Employee welfare is a comprehensive term including various services, benefits and facilities offered to employees by the employer. Through such generous fringe benefits the employer makes the life worth living for employees. In L&T it found that welfare policies are implemented successfully.

Table of Content
Chapter I:

1) 2) 3) 4) 5) 6)

Introduction Objective Of the Study Need of the Project Scope of the Project Research Methodology Limitations of the Project

Chapter II: 1) 2) 3) Company Profile Organization Chart Benefits given by the Company

Chapter III: 1) 2) Theoretical Background Data Analysis & Interpretation

Chapter IV: 1) 2) 3) Findings Suggestions

Bibliography

Chapter I

1. Introduction

Welfare includes anything that is done for the comfort and improvement of employees and is provided over and above the wages. Welfare helps in keeping the morale and motivation of the employees high so as to retain the employees for longer duration, which helps the organization to achieve its goals. Employee welfare is a comprehensive term including various services, benefits and facilities offered to employees & by the employers. Through such generous fringe benefits employer makes life worth living for employees. According to the Royal Commission on Labor Labor welfare is a term which must necessarily be elastic, bearing a somewhat different interpretation in one country from another, according to different social customs, the degree of industrialization and educational level of workers. The Oxford dictionary defines employee welfare as efforts to make life worth living for workmen After employees have been hired, trained and remunerated, they need to be retained and maintained to serve the organisation better. Welfare facilities are designed to take care of the well- being of the employees, they do not generally result in any monetary benefit to the employees. Nor are these facilities provided by employers alone. Governmental and nongovernmental agencies and trade unions too, contribute towards employee welfare. Welfare includes anything that is done for the comfort and improvement of employees and is provided over and above the wages or salary . Welfare helps in keeping the morale and motivation of the employees high so as to retain the employees for longer duration and its also increase efficiency of work. In future employee welfare will be very important concept in HR because it is beneficial for employee and organization also.

2.Objective of study

To Know welfare policies Provided by Larson and Toubro. To understand satisfaction level of employee with the welfare facilities of Larson and Toubro.

To study future scope and new trends in Employee welfare. To understand benefit and limitation of welfare policy . To Provided some suggestion to improve satisfaction level of employee in Larson and Toubro.

3. Need of employee welfare and employee satisfaction

To attract, motivate and retain good employees, organization need to define what employees want from employment relationship. Employee needs is to consider Total Reward which is everything an employee perceives resulting from working for the company. Many studies contend that benefits are the most useful mean to attract, motivate and retain employees. Companies offering more voluntary benefits have better chance of attracting qualified people and retaining them. On the other hand retention is key challenge in firms lacking such welfare benefits and where work tends to get routine and there is no opportunity for personal growth and development. The most common reason that employee turnover take place includes monotonous work schedule, stress at workplace, lack of career growth, training and development opportunities etc but if employer provide various welfare facilities regarding health, safety, training and development, then, there will be employee satisfaction and retention in organization.

4. Scope of Project

welfare is a relative concept, relative in time and space. It, therefore, varies from time to time, from region to region and from country to country. Employee welfare, also referred to as betterment work for employees, relates to taking care of the well-being of workers by employers. Welfare helps in keeping the morale and motivation of the employees high so as to retain the employees for longer duration. The welfare measures need not be in monetary terms only but in any kind/forms. Employee welfare includes monitoring of working conditions, creation of industrial harmony through infrastructure for health, industrial and insurance against disease, accident and unemployment for the workers and their families. Welfare policies are benefited to employee as well as employer The very logic behind providing welfare schemes is to create efficient, healthy, loyal and satisfied labor force for the organization. The purpose of providing such facilities is to make their work life better, increase production and also to raise their standard of living. To study regarding all above welfare concept carried out in Larson and Toubro company at powai Implementation of various polices and its satisfaction on their employee.

5. Research Methodology

Research Methodology Research Methodology is the procedure used in making systematic observation or otherwise obtaining data, evidence, and information as part of research project or study. It is a science of studying how research is to be carried out. Research - Research is a logical and systematic search for new and useful information on a particular topic. Research is a process of steps used to collect and analyze information to increase our understanding of a topic or issue. Types of Research Exploratory research Exploratory research is often conducted because a problem has not been clearly defined as yet, or its real scope is as yet unclear. It allows the researcher to familiarize him/herself with the problem or concept to be studied. It is the initial research, before more conclusive research is undertaken. Exploratory research helps determine the best research design, data collection method and selection of subjects. This type of research helps researcher to get proper perception about the topic. Exploratory research focuses on collecting data using an unstructured format or informal procedures to capture data and to interpret them. For this project, exploratory research was used to get information about payroll process at ISS India. The source of collection of data is secondary which was collected with the help of a questionnaire. Questionnaires were given to the employees who were handling payroll process is an important source of data which was used for comparative study. The data was also collected from the companys manual & through websites.

Descriptive Research - Descriptive research is done with a specific research question in mind. It gives a set view of the subject, population, market segment or problem. Descriptive research provides research questions, populations or methods of analysis before the research is started. It is concerned with the description of data and characteristics about a population.

A survey had been conducted at ISS to understand the payroll staffs efficiency & their ability to solve queries. The questionnaire was circulated to the internal employees of ISS at the corporate office of the company. The same survey was conducted at another company Modern Protected Investigation Ltd. This helps in a comparative study between the payroll processes of the mentioned companies.

Primary data for study :


The survey was made with the questionnaire containing 25 questions. In that survey employees were asked to rate their opinion about different welfare policies of L&T.

Secondary data:
In secondary data used various website for data . L&Ts annual report, monthly magazines, journals etc used. Various books referred of Human resource management.

6. Limitation of Study

This study having certain limitiation as follows 1. It was very difficult to get primary data. 2. Sometimes while making survy employee were not responded Properly. 3. Time factor was major limitation of project . there was limited time given by Mumbai university to complete this study. 4. Company were not allowing disclose some of their information . 5. Secondary data which was available only that utilized for study.

Chapter II

1.Company Profile

1. Overview: Larsen & Toubro Limited (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector. More than seven decades of a strong, customer-focused approach and the continuous quest for world-class quality have enabled it to attain and sustain leadership in all its major lines of business. L&T has an international presence, with a global spread of offices. A thrust on international business has seen overseas earnings grow significantly. It continues to grow its overseas manufacturing footprint, with facilities in China and the Gulf region. The company's businesses are supported by a wide marketing and distribution network, and have established a reputation for strong customer support. L&T believes that progress must be achieved in harmony with the environment. A commitment to community welfare and environmental protection are an integral part of the corporate vision. In response to changing market dynamics, L&T has gone through a phased process of redefining its organisation model that facilitates growth through greater levels of empowerment. The new structure is built around multiple businesses designated Independent Companies or ICs.

2. History :

The evolution of L&T into the country's largest engineering and construction organization is among the most remarkable success stories in Indian industry. L&T was founded in Bombay (Mumbai) in 1938 by two Danish engineers, Henning Holck-Larsen and Soren Kristian Toubro. Both of them were strongly committed to developing India's engineering capabilities to meet the demands of industry. .

Henning Holck-Larsen (4.7.1907 - 27.7.2003)

Soren Kristian Toubro (27.02.1906 - 4.3.1982) Beginning with the import of machinery from Europe, L&T rapidly took on engineering and construction assignments of increasing sophistication. Today, the company sets global engineering benchmarks in terms of scale and complexity. Early Days : Henning Holck-Larsen and Soren Kristian Toubro, school-mates in Denmark, would not have dreamt, as they were learning about India in history classes that they would, one day, create history in that land. In 1938, the two friends decided to forgo the comforts of working in Europe, and started their own operation in India. All they had was a dream and the courage to dare. Their first office in Mumbai (Bombay) was so small that only one of the partners could use the office at a time! In the early years, they represented Danish manufacturers of dairy equipment for a modest retainer. But with the start of the Second World War in 1939, imports were

restricted, compelling them to start a small work-shop to undertake jobs and provide service facilities. The war-time need to repair and refit ships offered L&T an opportunity, and led to the formation of a new company, Hilda Ltd., to handle these operations. L&T also started two repair and fabrication shops - the Company had begun to expand. The Journey : In 1944, ECC was incorporated. Around then, L&T decided to build a portfolio of foreign collaborations. By 1945, the Company represented British manufacturers of equipment used to manufacture products such as hydrogenated oils, biscuits, soaps and glass. Independence and the subsequent demand for technology and expertise offered L&T the opportunity to consolidate and expand. Offices were set up in Kolkata (Calcutta), Chennai (Madras) and New Delhi. In 1948, fifty-five acres of undeveloped marsh and jungle was acquired in Powai. Today, Powai stands as a tribute to the vision of the men who transformed this uninhabitable swamp into a manufacturing landmark. Public Limited Company : In December 1950, L&T became a Public Company with a paid-up capital of Rs.2 million. The sales turnover in that year was Rs.10.9 million.

Expanding Horizons : Today, L&T is one of India's biggest and best known industrial organisations with a reputation for technological excellence, high quality of products and services, and strong customer orientation. It is also taking steps to grow its international presence. For an institution that has grown to legendary proportions, there cannot and must not be an 'end'. Unlike other stories, the L&T saga continues.....

Vision :

The L&T vision reflects the collective goal of the company. It was drafted through a large scale interactive process which engaged employees at every level, worldwide.

4 Awards and Recognition :


The Economic Times named Mr. A.M. Naik "Business Leader of the Year" for 2008. L&T is among the top 100 Most Trusted brands of India as published in The Brand Trust L&T Won Best Innovation in Logistics-Transportation award on 20 May 2011 from India L&T Won The Financial Express-EVI Green Business Leadership Award for 2010-11. The

Report.

International Logistics Forum.

award was received from Dr.A.P.J. Abdul Kalam.

2.Organization Structure Chart

3.Benefit given by Company

Company providing canteen facilities which they giving very nutrious food. Company giving loan to it s employee with concession interest rate. L&T providing employee stock option plan with concession rate. To providing various facilities to employee s family like summer camp for children, various medical camp, vocational guidance program, health, beauty and fitness program etc

L&T also provided transport facilities to the employees. Various training program conducted for carrier growth of employee. It also giving low cost education to employees children through their technical education institute (LTIT).

Company proving very efficient safety and security to it s employees.

Chapter III

1. Theoretical background related to employee welfare


Employee welfare is comprehensive term including various services, benefit, and facilities provided by employer to employees. The form of employee welfare activities is flexible, elastic and differs from time to time, region to region, industry to industry and country to country depending upon the value system. Organization provides welfare policy to motivate, keeping morale high and increasing work efficiency of employee.

Parties involved in Employee welfare: 1.Central government


The central government tries to extend its helping hand through various act covering safty ,health and welfare of workers. Welfare officers over see the closely on welfare Activities in industry. 2. State governments Goverments of different state and union territories offer welfare facilities to worker. In gujrat, Maharsashta, karntaka, and Punjab labor welfare centre are administered by welfare boards. 3.Employer Enlightened employer in pubic sector , private sector have undertaken various welfare measures for interest of their employees. 4. Trade unions Trade union is also one of party which involved in employee welfare activities . Sometimes this may not be that effective because lack of finance and multi trade unions.

The employee welfare schemes can be classified into two categories viz. statutory and nonstatutory welfare schemes. The statutory schemes are those schemes that are compulsory to provide by an organization as compliance to the laws governing employee health and safety. These include provisions provided in industrial acts like Factories Act 1948, Dock Workers Act . STATUTORY WELFARE SCHEMES
1. Drinking Water: At all the working places safe hygienic drinking water should be

provided.

2. Facilities for sitting: In every organization, especially factories, suitable seating

arrangements are to be provided.

3. First aid appliances: First aid appliances are to be provided and should be readily

assessable so that in case of any minor accident initial medication can be provided to the needed employee.

4. Latrines and Urinals: A sufficient number of latrines and urinals are to be provided in the

office and factory premises and are also to be maintained in a neat and clean condition.

5. Canteen facilities: Cafeteria or canteens are to be provided by the employer so as to

provide hygienic and nutritious food to the employees.

6. Spittoons: In every work place, such as ware houses, store places, in the dock area and

office premises spittoons are to be provided in convenient places and same are to be maintained in a hygienic condition.

7. Lighting: Proper and sufficient lights are to be provided for employees so that they can

work safely during the night shifts.

8. Washing places: Adequate washing places such as bathrooms, wash basins with tap and

tap on the stand pipe are provided in the port area in the vicinity of the work places.

9. Changing rooms: Adequate changing rooms are to be provided for workers to change

their cloth in the factory area and office premises. Adequate lockers are also provided to the workers to keep their clothes and belongings.

10. Rest rooms: Adequate numbers of restrooms are provided to the workers with provisions

of water supply, wash basins, toilets, bathrooms, etc. NON STATUTORY SCHEMES Many non statutory welfare schemes may include the following schemes:

1. Personal Health Care (Regular medical check-ups): Some of the companies provide the

facility for extensive health check-up.

2. Flexi-time: The main objective of the flextime policy is to provide opportunity to employees

to work with flexible working schedules. Flexible work schedules are initiated by employees and approved by management

3. Employee Assistance Programs: Various assistant programs are arranged like external

counseling service so that employees or members of their immediate family can get counseling on various matters.

4. Maternity & Adoption Leave Employees can avail maternity or adoption leaves. Paternity

leave policies have also been introduced by various companies.

5. Medi-claim Insurance Scheme: This insurance scheme provides adequate insurance

coverage of employees for expenses related to hospitalization due to illness, disease or injury or pregnancy.

6. Employee Referral Scheme: In several companies employee referral scheme is implemented

to encourage employees to refer friends and relatives for employment in the organization. Approaches to employee welfare Approaches to employee welfare refer to the beliefs and attitudes held by agencies which provide welfare facilities. Some agencies provide welfare facilities inspired by religious faith, others as a philanthropic duty and the like. The various approaches to labour welfare reflect the attitudes and beliefs of the agencies which are engaged in welfare activities. Welfare facilities may be provided on religious, philanthropic. or some other grounds. Moreover, the different approaches to labour welfare reflect the evolution of the concept of welfare.

Theoretical background related to employee welfare


Employee welfare is comprehensive term including various services, benefit, and facilities provided by employer to employees. The form of employee welfare activities is flexible, elastic and differs from time to time, region to region, industry to industry and country to country depending upon the value system. Organization provides welfare policy to motivate, keeping morale high and increasing work efficiency of employee.

Parties involved in Employee welfare: 1.Central government


The central government tries to extend its helping hand through various act covering safty ,health and welfare of workers. Welfare officers over see the closely on welfare Activities in industry. 2. State governments Goverments of different state and union territories offer welfare facilities to worker. In gujrat, Maharsashta, karntaka, and Punjab labor welfare centre are administered by welfare boards. 3.Employer Enlightened employer in pubic sector , private sector have undertaken various welfare measures for interest of their employees. 4. Trade unions Trade union is also one of party which involved in employee welfare activities . Sometimes this may not be that effective because lack of finance and multi trade unions. The employee welfare schemes can be classified into two categories viz. statutory and nonstatutory welfare schemes. The statutory schemes are those schemes that are compulsory to provide by an organization as compliance to the laws governing employee health and safety. These include provisions provided in industrial acts like Factories Act 1948, Dock Workers Act .

STATUTORY WELFARE SCHEMES The statutory welfare schemes include the following provisions:

1. Drinking Water: At all the working places safe hygienic drinking water should be

provided.

2. Facilities for sitting: In every organization, especially factories, suitable seating

arrangements are to be provided.

3. First aid appliances: First aid appliances are to be provided and should be readily

assessable so that in case of any minor accident initial medication can be provided to the needed employee.

4. Latrines and Urinals: A sufficient number of latrines and urinals are to be provided in the

office and factory premises and are also to be maintained in a neat and clean condition.

5. Canteen facilities: Cafeteria or canteens are to be provided by the employer so as to

provide hygienic and nutritious food to the employees.

6. Spittoons: In every work place, such as ware houses, store places, in the dock area and

office premises spittoons are to be provided in convenient places and same are to be maintained in a hygienic condition.

7. Lighting: Proper and sufficient lights are to be provided for employees so that they can

work safely during the night shifts.

8. Washing places: Adequate washing places such as bathrooms, wash basins with tap and

tap on the stand pipe are provided in the port area in the vicinity of the work places.

9. Changing rooms: Adequate changing rooms are to be provided for workers to change

their cloth in the factory area and office premises. Adequate lockers are also provided to the workers to keep their clothes and belongings.

10. Rest rooms: Adequate numbers of restrooms are provided to the workers with provisions

of water supply, wash basins, toilets, bathrooms, etc.

NON STATUTORY SCHEMES

1. Personal Health Care (Regular medical check-ups): Some of the companies provide the

facility for extensive health check-up.

2.Flexi-time: The main objective of the flextime policy is to provide opportunity to employees to work with flexible working schedules. Flexible work schedules are initiated by employees and approved by management to meet business commitments while supporting employee personal life needs

3.Employee Assistance Programs: Various assistant programs are arranged like external counseling service so that employees or members of their immediate family can get counseling on various matters.

4.Maternity & Adoption Leave Employees can avail maternity or adoption leaves. Paternity leave policies have also been introduced by various companies.

5.Medi-claim Insurance Scheme: This insurance scheme provides adequate insurance coverage of employees for expenses related to hospitalization due to illness, disease or injury or pregnancy.

6.Employee Referral Scheme: In several companies employee referral scheme is implemented to encourage employees to refer friends and relatives for employment in the organization.

Approaches to employee welfare


Approaches to employee welfare refer to the beliefs and attitudes held by agencies which provide welfare facilities. Some agencies provide welfare facilities inspired by religious faith, others as a philanthropic duty and the like. The various approaches to labour welfare reflect the attitudes and beliefs of the agencies which are engaged in welfare activities. Welfare facilities may be provided on religious, philanthropic or some other grounds. Moreover, the different approaches to labour welfare reflect the evolution of the concept of welfare.

Religious theory The theory views were an essentially religious. Religious feelings are what sometimes prompt employers to take up welfare activities in the belief of benefits either in his life or in support after life. Any good work is considered an investment, because both the benefactor and the beneficiary are benefited by the good work done by the benefactor. This theory does not take into consideration that the workers are not beneficiaries but rightful claimants to a part of the gains derived by their labour. Trusteeship theory In this theory it is held that the industrialists or employers holds the total industrial estate, properties and profits accruing form them in trust for the workmen, for himself , and for society. It assumes that the workmen are like minors and are not able to look after their own interests that they are ignorant because of lack of education. Employers therefore have the moral responsibility to look after the interests of their wards, who are the workers. Placating theory As labour groups are becoming better organized and are becoming demanding and militant, being more conscious of their rights and privileges that even before, their demand for higher wages and better standards increases. The placing theory advocates timely and periodical acts of labour welfare to appease the workers. Public relations theory This underlining philosophy behind this theory is an atmosphere of goodwill between management and labour and also between management and the public. Labour welfare programms under this theory, work as assort of an advertisement for companies and helps build up good and healthy public relations. The labour welfare movements may be utilized to improve relations between management and labour. An advertisement or an exhibition of alobour welfare programme may help the management projects a good image of the company. Functional theory The concept behind this theory is that a happy and healthy person is a better, more productive worker. Here, welfare is used as a means to secure, preserve and develop the efficiency and productivity of labour. As discussed earlier, the approach to any solutions, especially as that as between the workers and the management should be dialogue and an understanding of one Another viewpoint.

Article published about Employee Welfare

The Employee Welfare State in Transition Throught the postwar period, large-firm employers have provided a majority of full-time workers with a fairly comprehensive set of welfare or social insurance entitlements. Employee social insurance has come in two varieties. First, firms have provided certain types of insurance directly, or contracted private third parties to do so, and have bought or directly administered health insurance, pensions, unemployment insurance (in the form of severance pay, and job security and income guarantees), disability insurance and life insurance. Second, for other types of insurance, such as state workers (accident) compensation, unemployment insurance, Social Security disability, and pension coverage, the government has required firms to contribute, on a per-worker or experience-rated basis, to insurance funds that cover workers as a group. Strikingly, when these two forms of social insurance are taken together, employers appear to be the entities that have been primarily responsible for workers social welfare; correspondingly, the United States has relied substantially less than other industrialized countries on social welfare schemes financed and administrated by the state or by quasi-public entities other than employers (such as craft or professional groups). The term employee welfare state encapsulates the observation that, during the period from 1920 to 1970, large employers provided fairly comprehensive social insurance protections for their workers.

By David Charny

Professor of Law, Harvard Law School. Publish in www.heinonline.org

2.

Welfare policies provided by the Larson and Toubro to employees

1. Canteen facility : For all the employees the canteen facility is provided by the company at

no cost. The food quality is also very good. In the canteen breakfast, lunch and snacks are provided by the company.
2. Credit Societies : The objective of setting-up of these societies is to provide loan facility at

reasonable terms and conditions. L&T also has the credit society which provide loans to the employees at reasonable rates and with less documents.
3. Housing : Of all the requirements of the workers, decent and cheap housing

accommodation is of great significance. L&T offers housing facility to the manager level employees.
4. Employee Counselling : L&T provide counseling service to the employee regarding their

personal problems through professional counselors. Employee counseling reduces absenteeism, turnover, tardiness etc.
5. Holiday Homes : L&T provides various holiday homes for the vacation to the employee.

To get the holiday homes minimum amount to be paid by the employee for certain days. The various holiday homes are situated at Goa, Mahabaleshwar, Panchagani, Masuri, Ooty, Bengaluru, hydrabad, Manali, Simala, Nainitaal etc.
6. Education of Employees Children : L&T Institute of Technology, Mumbai is an

exclusive facility for L&T employees' children. The Institute conducts four-year industryintegrated diploma courses in Mechanical Engineering and Electronics Engineering. On successful course completion, students are awarded diplomas by the Directorate of Technical Education, Maharashtra to which LTIT is affiliated.
7. Transportation : L&T provide conveyance facilities to their employees from the place of

their residence to the place of work. This facility is free for the employee.

8. Parties and picnic: After every six months the picnics are arranged for the employees, also

the family picnics are arranged. Various festivals are celebrated in the company like Navaratri, Diwali etc. Annual function is arranged for the employee as well as family Members.

9. Miscellaneous : L&T provide other benefits like organizing games, sports with awards,

setting up of clubs, community services activities, Christmas gifts, gifts for Diwali and other festivals, birthday gifts, leave trave; concessions and awards, productivity and performance awards etc.
10. Retirement Benefits : All staff members are covered under Provident Fund and Gratuity

Scheme.

3. Data Analysis & Interpretation

1. Rating of Welfare Policy at L&T.

Interpretation of chart:
In the above chart, employees were asked to rate the welfare policies of L&T and it was found that:

32% of employees found the welfare policies to be excellent 60% of employees found the welfare policies to be good 8% of employees found the policies to be average

Looking at the above findings, one can conclude that, maximum number of employees found the welfare policies of the company to be good.

2. Satisfaction level of medical facility at L&T.

Interpretaion of chart:

In the above chart, employees were asked to rate their satisfaction level of medical policies of L&T and it was found that:

40% of employees are satisfied with the medical policies 60% of employees are average satisfied with the medical policies 8% of employees are dissatisfied with the medical policies

Looking at the above findings, one can conclude that, maximum number of employees found the medical policies of the company to be satisfactory.

3. Ratings for the quality of food provided in Canteen.

Interpretaion of chart:

In the above chart, employees were asked to rate quality of food provided in Canteen of L&T and it was found that:

48% of employees found the quality of food nutritious 52% of employees found the quality of food somewhat nutritious No employee found the quality of food least nutritious

Looking at the above findings, one can conclude that, maximum number of employees found the quality of food to be nutritious.

4. Satisfaction with the training program.

Interpretaion of chart:

In the above chart, employees were asked to rate their satisfaction level of the training program at L&T and it was found that:

48% of employees are satisfied with the training program 40% of employees are average satisfied with the training program 12% of employees are dissatisfied with the training program

Looking at the above findings, one can conclude that, maximum number of employees are satisfied with the training program.

5. Awareness of Welfare policies for family.

Interpretaion of chart:

In the above chart, employees were asked whether they are aware of the welfare policies for their family members at L&T and it was found that:

88% of employees are aware of the policies for their family members 12% of employees are unaware of the policies for their family members

Looking at the above findings, one can conclude that, maximum number of employees are aware of the company policies for their family members.

6. Satisfaction with the grievance handling procedure of company.

Interpretaion of chart:

In the above chart, employees were asked about their Satisfaction with the grievance handling procedure of L&T and it was found that:

32% of employees are satisfied with the grievance handling procedure 48% of employees are average satisfied with the grievance handling procedure 20% of employees are dissatisfied with the grievance handling procedure

Looking at the above findings, one can conclude that, maximum number of employees are satisfied with the grievance handling procedure.

7. Rating of Hygiene condition at Company.

Interpretaion of chart:

In the above chart, employees were asked to rate the hygiene conditions at L&T and it was found that:

40% of employees found the hygiene conditions to be excellent 48% of employees found the hygiene conditions to be good 20% of employees found the hygiene conditions to be average

Looking at the above findings, one can conclude that, maximum number of employees found the hygiene conditions to be good and satisfactory.

8. Satisfaction with the safety and security measures.

Interpretaion of chart:

In the above chart, employees were asked about their satisfaction with safety and security measures at L&T and it was found that:

44% of employees are satisfied with the safety and security measures 40% of employees are average satisfied with the safety and security measures 16% of employees are dissatisfied with the safety and security measures

Looking at the above findings, one can conclude that, maximum number of employees are satisfied with the safety and security measures of L&T.

Chapter IV

Findings

Welfare policies are designed to attract, motivate and retain good employees. Companies offering more voluntary benefits have better chance of attracting qualified people and retaining them.

Laresn & Toubro is a leading Indian Multinational corporation, which provides various welfare policies to its employees and also takes care of the wellbeing of its employees in all respects.

From the survey on welfare policies of L&T it is found that, most of the welfare policies of L&T are for the benefits of the employees. All the employees knows the welfare policies very well and gets the benefits of them.

Employees are very satisfied with the welfare policies provided by the company. Due to these good welfare policies, L&T is a successful organization in attracting and retaining the employees.

Suggestions

L&T conducts various training programs for the benefits of employees, but the survey shows that 12% employees are dissatisfied with the trainings provided. The reason for this is sometimes the trainings provided are unnecessary and not related to the job profile of employee. So L&T should conduct the necessary training programs related to the job profile of employees so that all employees will get the proper benefits.

Various medical facilities are provided by the company to the employees as well as their family members; still the survey shows that 8% employees are dissatisfied. They reported the reason for this as sometimes it takes more time to get the medical facility, sometimes the doctors are not available. So L&T should take more efforts to reduce such cases to make sure that employee will get the medical help immediately when it is needed.

Many safety and security measures are implemented by L&T, still 16% of employees says that some unnecessary security measures are implemented by the company which shows that company not at all trust on the employees. So company can revise the safety and security measures.

20% employees are dissatisfied with the grievance handling procedure, this is because sometimes the responsible person takes more time to give response or some complaints are simply ignored by the responsible person. So company should improve in this area so that all the complaint get the proper attention and they should get resolved in less time span.

Conclusion

Welfare policies are one of the important features in the growth of the company. The welfare policies are designed to attract, motivate and retain good employees. Companies offering more voluntary benefits have better chance of attracting qualified people and retaining them. To make more business companies should hire more employees and retain their employees for long time. To achieve this goal welfare policies play very important role. Laresn & Toubro is a leading Indian Multinational corporation, which provides various welfare policies to its employees. All the necessary things are provided by the company and it also take care of the wellbeing of its employees in all respects. The company also takes necessary measures so that each & every employee gets the benefits of welfare policies. The survey was conducted to find the effectiveness of welfare policies. The survey shows that the welfare policies are very effective and the employees are satisfied with the policies.

Bibliography

Books:

Personnel and Human Resource Management (Text & Cases) Author : P. Subba Rao Publication : Himalaya Publication House Edition : 4th Edition, 2010

Human Resource Management (Text & Cases) Author : VSP Rao Publication : Excel Book India Edition : 2nd Edition, 2008

Internet:

http://www.larsentoubro.com/

http://www.larsentoubro.com/lntcorporate/common/ui_templates/homepage_news.aspx? res=P_CORP http://www.larsentoubro.com/lntcorporate/common/ui_templates/HtmlContainer.aspx? res=P_EBG_BABT_BOB

http://www.citehr.com/ http://www.citehr.com/105271-require-questionnaire-employee-welfare.html

http://www.wikipedia.org/ http://wiki.answers.com/Q/What_is_employee_welfare_measures

http://www.whatishumanresource.com/ http://www.whatishumanresource.com/employee-welfare

http://www.scribd.com/ http://www.scribd.com/doc/40212500/4/SCOPE-OF-EMPLOYEE-WELFARE

Annexure

A PROJECT REPORT ON EMPLOYEE WELFARE AND EMPLOYEE SATISFACTION at Larson and Toubro QUESTIONAIRE Designation : Age: Length of the Service: Department:

Please answer the following questions(Please tick mark any one option as per your preference)

1. How would you rate welfare facilities at L&T ? a. Excellent b. Good c. Average d. Poor

2. Are you aware of medical facilities given by company? a. Yes b. No

3. Are you satisfied with the medical facility given by L&T? a. Satisfied b. Average Satisfied c. Dissatisfied d. Other

Comment/Suggest __________________________________________________________________

4. Is there canteen facility provided by L&T? If yes then, how would you rate the quality of food provided? a. Highly nutritious nutritious b. Some what nutritious c. Least

5. Was there a training program conducted for your team/department in the last 1 year/6 months? a. Yes b. No

6. If yes then, were you satisfied with the training? a. Satisfied b. Average Satisfied c. Dissatisfied d. Other

Comment/Suggest __________________________________________________________________

7. Are you aware of welfare policies available for your family members? a. Yes b. No

8. If no then, what measures do you suggest for the improvement? _______________________________________________________________________________________ _____________________________________________________________________________

9. Are you satisfied with the Grievance handling procedure of the company? a. Satisfied b. Average Satisfied c. Dissatisfied d. Other

Comment/Suggest __________________________________________________________________

10. How would you rate the hygiene conditions at L&T? a. Excellent b. Good c. Average d. Below Average

11. Are you satisfied with the safety and security measures of the company? a. Satisfied b. Average Satisfied c. Dissatisfied d. Other

Comment/Suggest __________________________________________________________________

12. Add any comment or suggestion.