Professional Documents
Culture Documents
PROJECT REPORT
Submitted by
JJ
Register No: 009
in partial fulfillment for the award of the degree
Of
MASTER OF BUSINESS ADMINISTRATION
In
----------------------- ---------------------
Internal Examiner ExternalExaminer
3
DECLARATION
JJ
Lecturer
Department of Mgt,
4
CONTENTS
ABSTRACT
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.
LIST OF TABLES
Table Page
TABLE TITLE
No: No:
LIST OF CHARTS
8
Chart Page
PARTICULARS
No: No:
11
CHAPT
ER 1
INTRODUCTIO
N
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.
implies the welfare of man, his family and his community. All these three
aspects are inter-related and work together.
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.
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.
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.
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
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.
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
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.
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
Policy Premium
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)
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.
Hospitalisation cover: This would protect the insured person for in-
patient 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.
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
Eligibility
All people residing in India between 6 months and 70 years traveling
outside India on holiday can take this insurance.
Policy Benefits
Hospitalization cover: This would protect the Insured person for in-
patient 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.
CHAPT
ER 2
MAIN THEME OF THE
PROJECT
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.
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..
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.
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
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.
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.
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
CHAPTER – 3
ANALYSIS & INTERPRETATION
34
CHAPTER 3
31 – 40yr 62 31
41 – 50yr 58 29
51yr&above 40 20
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
Female 66 33
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%
Unmarried 64 32
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
Accountants 50 25
Agents 38 19
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%
19% 46%
20%
0–5 72 36
6 – 10 68 34
11 – 15 30 15
Above 15 30 15
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 40
Below 5000 60 30
5000-10000 40 20
10000-15000 50 25
Above 15000 50 25
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
0
Below 5000 5000-10000 10000-15000 Above 15000
Highly Satisfied 70 35
Satisfied 56 28
Moderately Satisfied 50 25
Dissatisfied 24 12
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%
Highly Satisfied 60 30
Satisfied 56 28
Moderately Satisfied 44 22
Dissatisfied 20 10
Highly Dissatisfied 20 10
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
0
Highly Satisfied Moderately Dissatisfied Highly
Satisfied Satisfied Dissatisfied
Highly Satisfied 72 36
Satisfied 50 25
Moderately Satisfied 56 28
Dissatisfied 14 7
Highly Dissatisfied 8 4
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 7% are
dissatisfied
45
40
35
30
25
20
15
10
5
0
Highly Satisfied Moderately Dissatisfied Highly
Satisfied Satisfied Dissatisfied
Highly Satisfied 50 25
Satisfied 72 36
Moderately Satisfied 40 20
Dissatisfied 20 10
Highly Dissatisfied 18 9
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
Highly Satisfied 52 28
Satisfied 76 38
Moderately Satisfied 36 18
Dissatisfied 16 8
Highly Dissatisfied 16 8
40
35
30
25
20
15
10
5
0
Highly Satisf ied Moderately Dissatisfied Highly
Satisfied Satisf ied Dissatisfied
Table3.12
RESPONDENTS OPINION ON SAFETY EQUIPMENT FACILITY
48
Highly Satisfied 60 30
Satisfied 50 25
Moderately Satisfied 30 15
Dissatisfied 40 20
Highly Dissatisfied 20 10
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
0
Highly Satisfied Moderately Dissatisfied Highly
Satisfied Satisfied Dissatisfied
Table3.13 RESPONDENTS OPINION ON ADVANCE
PAYMENTMENT FACILITY
Highly Satisfied 44 22
Satisfied 60 30
Moderately Satisfied 56 28
Dissatisfied 20 10
Highly Dissatisfied 20 10
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
0
Highly Satisfied Moderately Dissatisfied Highly
Satisfied Satisfied Dissatisfied
Table3.14
RESPONDENTS OPINION ON RELATIONSHIP WITH SUPERIORS
51
Excellent 96 48
Satisfactory 56 28
Good 44 22
Poor 4 2
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.
Chart3.14
50
45
40
35
30
25
20
15
10
5
0
Excellent Satisfactory Good Poor
52
Highly Satisfied 64 32
Satisfied 60 30
Moderately Satisfied 40 20
Dissatisfied 36 18
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
Highly Satisfied 76 38
Satisfied 50 25
Moderately Satisfied 56 28
Dissatisfied 24 12
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
Highly Satisfied 72 36
Satisfied 44 22
Moderately Satisfied 58 29
Dissatisfied 20 10
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 Moderately Dissatisfied
Satisfied Satisfied
Highly Satisfied 72 36
Satisfied 56 28
Moderately Satisfied 48 24
Dissatisfied 24 12
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 Moderately Dissatisfied
Satisfied Satisfied
58
Highly Satisfied 50 25
Satisfied 64 32
Moderately Satisfied 50 25
Dissatisfied 36 18
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%
Highly Satisfied 72 36
Satisfied 50 25
Moderately Satisfied 58 29
Dissatisfied 20 10
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 Moderately Dissatisfied
Satisfied Satisfied
Highly Satisfied 60 30
Satisfied 72 36
Moderately Satisfied 38 19
Dissatisfied 30 15
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.
Table.3.20
40
35
30
25
20
15
10
5
0
Highly Satisfied Moderately Dissatisfied
Satisfied Satisfied
62
Highly Satisfied 64 32
Satisfied 70 35
Moderately Satisfied 42 21
Dissatisfied 24 12
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
0
Highly Satisfied Moderately Dissatisfied
Satisfied Satisfied
Highly Satisfied 60 30
Satisfied 66 33
Moderately Satisfied 56 28
Dissatisfied 18 9
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..
Chart3.22
35
30
25
20
15
10
0
Highly Satisfied Moderately Dissatisfied
Satisfied Satisfied
65
Highly Satisfied 60 30
Satisfied 70 35
Moderately Satisfied 42 21
Dissatisfied 28 14
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
0
Highly Satisfied Moderately Dissatisfied
Satisfied Satisfied
Highly Satisfied 52 26
Satisfied 64 32
Moderately Satisfied 50 25
Dissatisfied 34 17
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%
Highly Satisfied 68 34
Satisfied 64 32
Moderately Satisfied 44 22
Dissatisfied 24 12
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
35
satisfied, and 12% are dissatisfied by the lightning.
Chart3.25
30
25
20
15
10
0
Highly Satisfied Moderately Dissatisfied
Satisfied Satisfied
69
Highly Satisfied 72 36
Satisfied 56 28
Moderately Satisfied 52 26
Dissatisfied 20 10
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
0
Highly Satisfied Moderately Dissatisfied
Satisfied Satisfied
Highly Satisfied 64 32
Satisfied 60 30
Moderately Satisfied 60 30
Dissatisfied 16 8
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
0
Highly Satisfied Satisfied Moderately Dissatisfied
Satisfied
72
Table3.28
CHI – SQUARE TEST FOR SIGNIFICANCE
Total 80 56 44 20 200
= (4 – 1) x (4 – 1)
73
= 3x3
=9
Level of significance = 5%
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.
Management 34 10 11 5 60
Professional
Front office 16 17 14 5 52
Staff
Accountants 16 9 20 5 50
Agents
10 10 13 5 38
Total 76 46 58 20 200
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 Moderately Dissatisfied Highly Total
satisfied satisfied Dissatisfied
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 81 54 37 17 11 200
=18.36
ANOVA TABLE
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 Perception HS S MS DS Total Wtd:Avg Rank
level
Wtd:score 4 3 2 1
Bonus Wtd:Score 14 84 48 12 288 2.88 2
4
Respondents 36 28 24 12 100
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
4 40 22 0 -26 0 676 0
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
• 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 satisfied by the
Festival allowance, 32% of 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
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
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.
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, .
APPEN
DIX
QUESTIONNAIRE
89
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?
10. Are you satisfied with the promotion facilities provided by the
company?
11. Give your opinion about medical facility provided by the company?
18. How do you rate your relation ship with your superiors?
Welfare
Highly Satisfied Moderately Dissatisfied
Measures
satisfied satisfied
Bonus
91
PF
HRA
Festival Allowance
TA
ESI
20.Tick your satisfaction regarding the welfare measures in the following table
Welfare
Highly Satisfied Moderately Dissatisfied
Measures
satisfied satisfied
Ventillation
Temperature
Seating arrangement
Lighting
BIBLIOGRAPHY
WEBSITES
www.indianmba.com
www.star health.com
www. hrresources. Com