Use

A STUDY ON
COMPENSATION AND EMPLOYEE BENEFITS OF RELIANCE COMPANY

PROJECT REPORT SUBMITTED TO

SATAVAHANA UNIVERSITY KARIMNAGAR

IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF
THEDEGREE OF
MASTER OF BUSINESS ADMINISTRATION
By
Pagidi Amulya (7188-18-672-020)
UNDER THE GUIDANCE OF

DR. B ANUSHA
ASSISTANT PROFESSOR

UNIVERSITY COLLEGE OF COMMERCE & BUSINESS MANAGEMENT SATAVAHANA

UNIVERSITY, KARIMNAGAR - 505002
 DEPARTMENT OF BUSINESS MANAGEMENT SATAVAHANA
UNIVERSITY
KARIMNAGAR - 505002

CERTIFICATE

This is to certify that the project entitled “A STUDY ON COMPENSATION AND EMPLOYEE
BENEFITS OF RELIANCE COMPANY ” has

been successfully carried out by PAGIDI AMULYA a Bonafide student of Department of Business
Management, University College of Commerce & Business management, Satavahana University with
enrolment no 7188-18-672-020 for the academic year 2018-2020 and submitted in partial fulfilment of the
requirement of the award for the degree of Master of Business Administration (MBA).

…………………………… ………………………………… ………………………

Project Guide Principal External examiner

Dr. B ANUSHA Dr. E. MANOHAR
Asst Professor Asst Professor
Dept of Business Management Dept of Business Management
Satavahana University, Karimnagar. Satavahana University, Karimnagar.
 DECLARATION

I declare that this written submission of project entitled “A STUDY ON

COMPENSATION AND EMPLOYEE BENEFITS OF RELIANCE
COMPANY“ represents my ideas in my own words and where other ideas or words have been
included, I have adequately cited and referenced the original sources. I also declare that I have
adhered to all the principles of academic honesty and integrity and have not misinterpreted or
fabricated of falsified any idea/data/fact/source in my submission. I understand that any violation
of the above will be cause for disciplinary action of the college.

Place: Karimnagar
Date: …. /..../……..

(PAGIDI AMULYA)
 ACKNOWLEDGEMENT

I consider it as a great privilege to express my deep gratitude to many respected

personalities who guided, inspired and helped me in the successful completion
of my project.

First and foremost, I would like to express my deepest gratitude to my guide,

Dr. B ANUSHA, Assistant Professor, University College of Commerce
&Business Management, Satavahana University, for his constant supervision,
guidance, suggestions and invaluable encouragement during the project.

I take this opportunity to express my gratitude to Dr. E. MANOHAR,

Principal of University College of Commerce &Business Management,
Satavahana University, for his dedication towards our academics, and for his
valuable suggestions and encouragement.

I wish to thank all the staff members in the department for their kind
cooperation and support given throughout our project work.

I also thankful to all of my friends who have given valuable suggestions and
help in all stage of development of project.

Finally, I would like to dedicate this work to my parents who has provided
support and encouragement during every part of my life.

(PAGIDI AMULYA)

4
 COMPENSATION AND
EMPLOYEE BENEFITS OF
RELIANCE COMPANY

CONTENTS

5
Chapter 1 Introduction

1.1 Introduction 4
1.2 History of Employee Compensation
and Benefits 4

1.3 Need for Study 5

1.4 Objectives of the Study 5
1.5 Scope of the study 6
1.6 Methodology 6
1.6.1 source of data 6
1.6.1(a) Primary data 6
1.6.1(b) Secondary data 6
1.7 Period of Study 6

Chapter 2 Employee benefits

2.1 Introduction 7
2.2 Types of Employee Benefits 7
2.2.1 Mandated employee benefits 8
2.2.2 Few more Company-Provided
Employee Benefits 9
2.2.3Common Employee Benefits 9
2.3 Advantages and Disadvantages 9
2.3.1 Advantages of Employee Benefits 9
2.3.2 Disadvantages of Employee benefits 1
1
2.4 Conclusion 1
2

Chapter 3 Compensation
3.1 Introduction 1
3
3.2 Compensation 1
3
3.3 How is Compensation used 1

6
 4

3.4 What are the components of a 15

compensation System
3.5What are the different types of Compensation 16

3.6Advantages and Disadvantages of Compensation 17

3.7 Basis for Compensation 19
3.8 Effective Compensation Strategies 19
3.9 Conclusion 20
Chapter 4 Data analysis and interpretation

4.1 Data analysis 21

4.2 Interpretation 21
Chapter 5 Results

5.1 Suggestions 37
5.2 Findings 37
5.3 Conclusion 38

7
 CHAPTER​1

INTRODUCTION

1.1 INTRODUCTION:

Human Resource Management (HRM) has never been as significant as it is today.

Companies want to attract, retain and motivate brains to meet objectives. Today Humans are
regarded as one of every company’s assets so they need to be efficiently and effectively
managed. One of the tools companies use to attract, retain and motivate its people is
Compensation Management. In this hub, I shall define compensation and benefits along with
their advantages for a company and its workers.

Employee benefits are the various forms of compensation provided to employees in

addition to their normal salary. When designed, implemented and managed correctly,
employee benefits enable you to support your employees while engaging them in your
company's values.

Compensation may be defined as money received in the performance of work, plus

the many kinds of benefits and services that organizations provide their employees.”
“Compensation is the remuneration received by an employee in return of higher contribution
to the organization.

1.2 History of Employee Compensation and Benefits:

A good employer offers fair employee compensation and benefits, as well as

respects workers' rights. How and when did a humane, pro-labor workplace start?

A good employer is one of the forces behind a humane workplace where harmonious
labor-management relations exist. Labor-friendly conditions, particularly those that involve

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compensation and benefits, value employee happiness and job satisfaction. How and when
did a humane workplace evolve?

Early Labor Conditions: Gender Roles and Class Struggles

People during the pre-industrialization period treated the home and the workplace as
a single unit, with men and women sharing tasks. However, such egalitarian arrangement
changed with the rise of machines and factories.

Industrialization gave birth to stereotype gender roles and socio-economic hierarchy.

Middle class men got access to paid work (PW), while women were assigned to domestic
work and care giving tasks. For poor households, adult and child members labored in
separate workplaces. In both classes, the quality of family life was adversely affected. On the
other hand, the wealthy upper class drove the demand for industrial goods.

When the ​International Labor Organization ​(ILO) was established in 1919,

member-countries signed conventions that aimed "to promote rights at work, encourage
decent employment opportunities, enhance social protection and strengthen dialogue in
handling work-related issues."

The ILO encourages tripartism where representatives from state governments, employer
organizations, and labor groups participate in consultations to identify ideal labor standards
and policies. Later on, the ILO strengthened its campaign through its Decent Work Agenda
(DWA). The DWA promotes fair and rights-based trade globalization to fight poverty.

1.3 Need for study :

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 1. To know the employee satisfaction through the benefits and compensation offered
by the company.
2. To know the current employee benefits and compensation of the company

1.4 Objectives of the study :

1. The main objective of the study is to understand the growth in compensation

and employee benefits level.
2. To study the current employee benefits and compensation policy.
3. To study the various types of benefits available to the employees.

1.5 Scope of the study :

1. The scope is limited to employee benefits and compensation policy of

Reliance company.
2. The study gives information about employee perception towards the compensation
and benefits provided by the following company.
3. The study is limited to selected employees.
4. To study the problems faced by the employees and employee satisfaction.

1.6 METHODOLOGY:

RESEARCH DESIGN :

Type of survey : Sample survey was adopted.

Type of sampling : Random sampling was adopted.

SAMPLE DESIGN :

Sample size : A sample size of 100 respondents has taken.

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Sample unit : The sample unit was the employees of the RELIANCE COMPANY.

DATA SOURCES : The data was collected mainly from the two sources. The one was
primary data and the second was secondary data.

1.6.1(a) Primary data :

The main source of primary data is collected on a questionnaire from the employees.
And the employees feedback has been analyzed through bar graphs and pie charts.

1.6.1(b) Secondary data:

The main source of secondary data is the combination of various information

from the internet and through various books and magazines.

REASEARCH INSTRUMENT : The Research instrument used for conducting

survey is a structured questionnaire.

Type of questionnaire: The questions are standardized in this questionnaire that is

the questions that are presented in online format, exactly in the same manner to all
respondents.

Type of questions: The type of questions used in collection of primary data was
closed ended questions.

Tool of analysis : the collected data was analyzed with the help of bar, pie and
column charts.

REASEARCH DESIGN : There are generally three categories of research based

on the type of information required, they are
1. Exploratory research

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 2. Descriptive research
3. Casual research
The research category used in this project is DESCRIPTIVE RESEARCH, which is focused on
the accurate description of the variable in the problem model.

1.7 PERIOD OF STUDY : The study was conducted for the period of 6 months from August 2019 -
January 2019.

CHAPTER​ 2

12
 EMPLOYEE BENEFITS

2.1 Introduction:
Reliance Anil Dhirubhai Ambani Group or Reliance Group is an Indian conglomerate,
headquartered in Mumbai, India. The company, which was formed after Dhirubhai Ambani's
business was divided up, is headed by his younger son Anil Ambani.

Reliance Group has six listed companies. Reliance Power, Reliance Infrastructure,
Reliance Capital, Reliance Entertainment and Reliance Health. The group provides financial
services, construction, entertainment, power, health care, manufacturing, defence, aviation,
and transportation services.

2.2 Types of employee benefits:

The term employee benefits inculcate the different kinds of indirect recompense
provided to the employees apart from their normal salary.

Employee benefits include benefits from various sources i.e. medical insurance, life
insurance, retirement benefits, fringe benefits, paid time off, social security and other
specialized benefits. But in some companies, it is kept mandatory to provide employee
benefit as it helps them to grow. Not all MNC’s or bigger organizations pay their employees
a heavy paycheck. But still, there are many employees who still want to join such
companies. Moreover, you can also find employees who are working there unhappy with
their pays.

Employee benefits and perks are the non-salary compensation that the companies pay
to their employees. It need not be in the form of cash or hard money, it can be any like
medical insurance, extra work time pay paid holidays etc. Also, every company’s employee
benefits packages differ from the other.

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 The term employee benefits inculcate the different kinds of indirect recompense
provided to the employees apart from their normal salary.

Most often the employees working under the specific constraints and meeting deadlines
before or whose work is being performed with full focus or dedication are the eligible
nominee for getting the perks of employee benefit the most.

But in some companies, it is kept mandatory to provide employee benefit as it helps

them to grow.

2.2.1 Mandated employee benefits:

Here are a few employee benefits that employers need to offer as per the federal or state
laws.

⮚ COBRA (Consolidated Omnibus Budget Reconciliation Act)

⮚ Workers Compensation

⮚ Minimum Wage

⮚ Family and Medical Leave Act

⮚ Unemployment Benefits

⮚ Disability

⮚ Overtime

2.2.2 Few more More Company-Provided Employee Benefits:

⮚ Paid Holidays

⮚ Hazard Pay ki

⮚ Pay Raise
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 ⮚ Maternity, Paternity, and Adoption Leave

⮚ Vacation Leave

⮚ Work Breaks and Meal Breaks

2.2.3 Common Employee Benefits:

Employee benefits are very valuable and also useful. Some of the top employee benefits are,

i. Medical Insurance

ii. Disability Insurance

iii. Life Insurance

iv. Retirement Benefits

v. Domestic Partner Benefits

vi. Fringe Benefits

vii. Paid Time Off

2.3 ADVANTAGES AND DISADVANTAGES:

2.3.1 Advantages of Employee Benefits:

Some of the advantages of employee benefits are enlisted below:

1. Increased entreat:
Employee benefit should be given so as it will help the dedicated and hard-working
employees the growth and satisfaction of being in an organization. It often helps to bring
along a spirit of ownership by the employees towards their organization.

15
2. Improvised self-esteem:

Advantages of offering employee benefit help in boosting up the self-esteem of the

employee. organization shows their concern about their employee by providing them with
enough employee benefit that will help the employee and organization relationship and
bring loyalty amongst each other.

3. Dedicated Workforce:

The organization expects the employee to work with full dedication and offer their
work for the sake of an organization. Providing adequate benefits for the employee and
asking for survey often from the employee to help them in any possible way to enhance
their performance will eventually help both the organization and the employee grow.

4. Health is wealth:

By offering various medical plans for the employees the employees can inculcate and
support the upliftment more for both themselves and their family and the organization with
which they are engaged.

5. Social-Security:

It will help them to contribute to the safety and security of themselves and help them
to get associated with the organization for a longer period of time. Retirement plans and
other life insurance plans also get into account for the employees.

6. Increased Productivity:

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 By offering employee benefits, the employee gets more reason to care about the
company they are serving and being more dedicated towards them as much as possible. A
happy employee will help in better productivity for the organization.

7. Tax advancement:

Income tax deduction helps the employee for contributing to the tax with the minimal tax
deduction. The benefit offered to the employees under this tax advancement helps the
employee to reduce the tax as much as possible.

2.3.2 Disadvantages of Employee Benefits:

Following are some of the disadvantages of employee benefits provided to the employees.

1. Difficult to keep everyone happy:

As in an organization, the plans chosen are such that are benefited for the majority of
the employees but some or few employees will not be satisfied with the current chosen
policy and with the amount they have to pay for their portion.

The packages chosen by the organization are often not too delightful and are meant
more for their personal benefit. Plans are often changed every year in different
organizations and business which hinders the growth of employee in the company as the
insurance plans get along on the annual basis gets affected.

2. Legalization and authentication curse:

Often the benefits create concerns regarding legal complaints against both the employees
and the organization on breaking certain policy intentionally or unintentionally. On breaking
up of the specific policy and not paying the retention carries out of trouble which at times
becomes troublesome.

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3. Too expensive for the employees to fit into:

No matter how much amount the health benefits are favouring the company but they
still are going to deduce amount from the employee more than what they actually want to
offer.

4. Management of budget becomes difficult:

The cost associated with health insurance is rising day by day which in turn are
increasing the turnover rate of the company. If the cost increases the company for the
compensation forces the employees to give more money to accommodate their plans in the
budgets.

5. Difficulty in switching:

Switching often becomes very difficult to manage and the company loses many
employees if proper actions are not being taken. The major disadvantage associated with it
is that the more the employees in the organization will be, the more the company need to
pay to the insurance company to manage the account of different employees.

2.4 Conclusion:

The benefit will help the employees to work better and stay with the organization with
which they are related for a long period of time. This policy of providing better employee

18
benefits helps in demonstrating solid benefits to the employee so that it helps in proving the
organization that they offer enough deed to keep their employees delighted.

It sort of generates stability amongst the organization and builds a relation which states
that the company has the power to praise their employees or the fresh talent by offerings.
The government also for increasing the economic security of employee is helping to keep
this scheme mandatory.

CHAPTER​3

COMPENSATION

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3.1 Introduction:

Compensation administration is one of the most important areas of human resource

management because sound compensation policies, programmes and their effective execution
are essential to procure, maintain and develop the human resource of the organization to get
effective result from them. It involves the selection, designing, development and direction of
programmes designed to implement compensation or incentive policy through financial
rewards. Beach has defined wage and salary administration as follows: “wage and salary
administration refers to the establishment and implementation of sound policies and practices
of employee compensation. It includes such areas as job evaluation, surveys of wages and
salaries, analysis of relevant organizational problems, development and maintenance of wage
structure, establishing rules for administering wages. Wage payments, incentives, profit
sharing, wage changes and adjustments, supplementary payments, control of compensation
costs and other related items”. The traditional concept of wage and salary administration
emphasized on only determination of wage and salary structures in organizational settings. In
simple words, “compensation administration is a systematic procedure for establishing a
sound compensation structure.”

3.2 Compensation:

Compensation is a systematic approach to providing monetary value to employees

in exchange for work performed. Compensation may achieve several purposes assisting in
recruitment, job performance, and job satisfaction.
 Compensation may be viewed as a system of reward that motivates an employee to perform
better.

The term compensation is used to mean employees’ gross earnings in the form of
financial rewards and benefits as part of employment relationship. In terms of human
resource management, compensation is referred to as money and other benefits received by
an employee for providing services to his employer. Compensation management, also known

20
as wage and salary administration, remuneration management, or reward management, is
concerned with designing and implementing total compensation package or salary structure.

Compensation may also be viewed as:

● (a) A system of rewards that motivates employees to perform the assigned task,
● (b) A tool used by organizations to foster the values, culture and the behavior they
require, and
● (c) An instrument that enables organizations to achieve their business goals.

3.3 How is compensation used?

Compensation is a tool used by management for a variety of purposes to further the

existance of the company. Compensation may be adjusted according the the business needs,
goals, and available resources.

Compensation may be used to:

1. recruit and retain qualified employees.

2. increase or maintain morale/satisfaction.

3. reward and encourage peak performance.

4. achieve internal and external equity.

5. reduce turnover and encourage company loyalty.

6. modify (through negotiations) practices of unions.

Morable, job satisfaction are affected by compensation. Often there is a balance (equity)
that must be reached between the monetary value the employer is willing to pay and the
sentiments of worth felt be the employee. In an attempt to save money, employers may opt to
freeze salaries or salary levels at the expence of satisfaction and morale. Conversely, an

21
employer wishing to reduce employee turnover may seek to increase salaries and salary
levels.
Compensation may also be used as a reward for exceptional job performance.
Examples of such plans include: bonuses, commissions, stock, profit sharing, gain
sharing.

3.4 What are the components of a compensation system?

Compensation will be perceived by employees as fair if based on

systematic components.

The components of a compensation system include

1. Job Descriptions :

A critical component of both compensation and selection systems, job descriptions

define in writing the responsibilities, requirements, functions, duties, location, environment,
conditions, and other aspects of jobs. Descriptions may be developed for jobs individually
or for entire job families.

2. Job Analysis :​

The process of analyzing jobs from which job descriptions are developed. Job analysis
techniques include the use of interviews, questionnaires, and observation.

3. Job Evaluation :

A system for comparing jobs for the purpose of determining appropriate compensation
levels for individual jobs or job elements. There are four main techniques: Ranking,
Classification, Factor Comparison, and point method.

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3.5 What are different types of compensation?

Different types of compensation include:

Base Pay

Commissions

Overtime Pay

Bonuses, Profit Sharing, Merit Pay

Stock Option

Travel/Meal/Housing Allowance

There are different types of compensation. Most organizations operate with a salary
only, or salary plus bonus compensation methods Sales organizations and sales departments
of large organizations often operate with a salary plus commission or a commission only
compensation methods.

1. Hourly Compensation:

Paying by the hour is ideal when a set number of hours is expected for project
completion. This gives flexibility as a manager you can decide on how many hours you can
pay for based on your budget. The main disadvantage is that you will have to pay extra for
overtime or for work on holidays. Costs are one and a half times the base hourly rate if you
require your employees to work overtime and up to twice of that on a holiday.

2. Salary:

Salary, with or without salary sacrifice, is a good compensation system where

individual risk taking need not be rewarded-other than through improvements in salary with

23
career progression One of the advantages of paying a salary is that you would not have to pay
for overtime work. Employees will have to finish projects regardless of the time it requires
within the budget that you have set aside for their salary. Your employees might also be
happier, as they have high income security and also provides stable cost of doing business.
The employee cannot see clearly how they may influence the performance to realize the
bonus. You will have to offer extra perks to make the salary and position more appealing,
such as health insurance, benefits, and flexible working hours. This will require more
planning as a manager.

3. Bonus:

Paying a bonus incentivizes employees to produce exceptional results. Team effort is also
emphasized. For example, if a team performs well as a whole, this raises the amount of the
bonus that everyone will receive. Bonuses will also encourage employee loyalty. It might be
difficult to determine who should receive a bonus if results were produced by a team effort.
When it is clear that either a bonus will or will not be paid a couple of months before the
calculation period ends, there is often a tendency for effort and intensity of performance to
drop off.

4. Commission:

Paying a commission tends to motivate sales people to produce more sales for the
company, especially if the commission rate is attractive. If the commission structure is well
designed, it should work well without impacting your company profits. Individual effort is
emphasized, requiring less supervision by sales management.A low commission rate would
not be attractive to an employee. This may also result in a lack of loyalty as an employee
would be more likely to leave if a competitor offers a higher commission rate.

3.6 ADAVANTAGES AND DISADVANTAGES OF COMPENSATION:

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 Employee Compensation and benefits can vary based on the type of structure that
works best for your organization and project. Here’s a breakdown of the pros and cons of the
different kinds of compensation structures commonly used.

Hourly:
Pros: Paying by the hour is ideal when a set number of hours is expected for project
completion. This gives you flexibility because as a manager you can decide on how many
hours you can pay for based on your budget.

Cons: The main disadvantage is that you will have to pay extra for overtime or for work on
holidays. Costs are one and a half times the base hourly rate if you require your employees to
work overtime and up to twice of that on a holiday.

Salary:
Pros: One of the advantages of paying a salary is that you would not have to pay for overtime
work. Employees will have to finish projects regardless of the time it requires within the
budget that you have set aside for their salary. Your employees might also be happier, as they
are not as likely to associate happiness with income. For example, those paid by the hour may
experience a dip in satisfaction levels if they work fewer hours and thus earn less.

Cons: You will have to offer extra perks to make the salary and position more appealing,
such as health insurance, benefits, and flexible working hours. This will require more
planning as a manager. However, that effort will be made up by the fact that your employees
may be happier at work.

Bonus:
Pros: Paying a bonus incentivizes employees to produce exceptional results. Team effort is
also emphasized. For example, if a team performs well as a whole, this raises the amount of
the bonus that everyone will receive. Bonuses will also encourage employee loyalty, as this
structure often has a large salary component and will appeal to those who are looking to build
a career at the company.

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Cons: It might be difficult to determine who should receive a bonus if results were produced
by a team effort. Also, employees might take bonuses for granted and have expectations to
receive one even if profits for the year do not warrant it.

Commission:
Pros: Paying a commission tends to motivate salespeople to produce more sales for the
company, especially if the commission rate is attractive. If the commission structure is well
designed, it should work well without impacting your company profits. Individual effort is
emphasized, requiring less supervision by sales management.

Cons: Conversely, a low commission rate would not be attractive to an employee. This may
also result in a lack of loyalty as an employee would be more likely to leave if a competitor
offers a higher commission rate.

Ultimately, deciding which structure to go with will depend on the complexity of the
work required, as well as how much time it will take for the work to be completed. Other
factors should also be considered, such as employee satisfaction and the flexibility you
require in managing your budget. If you strategically plan your pay structure, you can find
the balance between maximizing profits and retaining happy employees.

3.7 Basis for compensation:

In addition to the base wage or salary, direct pay may include bonuses and profit shares.
Indirect pay consists of various benefits and services. Some benefits are required by law and
include unemployment compensation, worker's compensation, and Social Security. Many
employers also offer benefits not required by law.

3.8 Effective compensation strategies:

An effective compensation strategy motivates current employees and is used as a

tool to attract new ones. People often think of compensation as merely salary. However, the
total cost of employee compensation includes every aspect of employee benefits.

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1.​Budget Allocation :

This budget allocation will determine how much of the total compensation budget will
be spent on salary and what percentage will be spent on benefits and other incentives.

2.Develop Salary Ranges :

Develop salary ranges to ensure employee pay is competitive with other

organizations. To be competitive, it is important to benchmark like jobs within the same
industry and create a pay structure.
3. Salary Audits :

Markets change therefore it is important to perform routine salary audits to ensure

salary ranges reflect current compensation trends in a particular industry.

When performing an audit, the goal is to determine how competitive are those particular jobs
and what is the external market demanding.

4. Benefit Package :

Many organizations use benefit packages, in addition to salary, to attract and retain
employees.

5. Performance Management System :

It is important to have a structured performance management process to ensure

employees are meeting corporate objectives and are assessed on a regular basis.

7.S Legal Compliance :

27
 A well defined compensation strategy will incorporate legal requirements to ensure
the organization is in compliance with all federal and state laws.

3.9 Conclusion:

Compensation systems must be thought through from first principles to design them
to achieve a behavioral objective. Following what competitors do is not enough because it is
very likely that their compensation system is flawed in design when it comes to changing the
behavior of people. Ultimately, deciding which structure to go with will depend on the
complexity of the work required, as well as how much time it will take for the work to be
completed. Other factors should also be considered, such as employee satisfaction and the
flexibility you require in managing your budget. If you strategically plan your pay structure,
you can find the balance between maximizing profits and retaining happy employees.

CHAPTER 4
DATA ANALYSIS AND INTERPRETATION

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4.1 DATA ANALYSIS:

The process of evaluating data using analytical and logical reasoning to examine each
component of the data provided. This form of analysis is just one of the many steps that must
be completed when conducting a research experiment. Data from various sources is gathered,
reviewed, and then analyzed to form some sort of finding or conclusion. There are a variety
of specific data analysis method, some of which include data mining, text analytics, business
intelligence, and data visualizations.

4.2 INTERPRETATION:

Data interpretation refers to the process of critiquing and determining the significance
of important information, such as survey results, experimental findings, observations or
narrative reports. Interpreting data is an important critical thinking skill that helps you
comprehend text books, graphs and tables. Researchers use a similar but more meticulous
process to gather, analyze and interpret data. Experimental scientists base their interpretations
largely on objective data and statistical calculations. Social scientists interpret the results of
written reports that are rich in descriptive detail but may be devoid of mathematical
calculations.

1) Gender of the Employees:

29
 Choices % Count

Male 56.00% 56

Female 45.87% 44

Interpretation: The above pie chart show the responses of male and female employees.
The total number of responded employees are 100 i.e., 56 male and 44 female employees.

2) Designation of the employee?

Choices % count

Executive 16.00% 16

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 Functional 23.00% 23

Junior 26.00% 26

Senior 23.00% 23

Assistant 12.00% 12

Interpretation:

The bar chart indicates the designation of the employee i.e., Executive, Functional, Junior,
Senior and Assistant. Most the employees are juniors compared to the others. Where as
Your period of support with company. few number of employees designation is the
Assistants. In addition, designation of functional and senior are same. Furthermore,
percentage of executives is 16% few number of employees designation is the Assistants. In
addition, designation of functional and senior are same. Furthermore, percentage of
executives is 16.

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 3) Your period of support with company?

Choices % Count

<1 year 13.00% 13

1 to 3 years 14.00% 14

3 to 5 years 26.00% 25

32
5 to 7 years 19.00% 19

>7 years 28.00% 28

Interpretation:

The above figure shows the length of time that they have being supporting with the
company. Overall, most of the employees serving the company are above 7 years with
percentage of 28. And the employees uphold with the company is less than one year is
i.e.,13%. Employees supporting the company between 1 to 3 years is of 14%. The employee
serving to the company between 3 to 5 years is of 26%. As well as, 19% of the employees
uphold with company between 5 to 7 years.

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 4) Expectation to improve your work skill?

Choices % Count

Salary 36.00% 36

Motivation 38.00% 28

Guidance 26.00% 26

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Interpretation:

The bar chart gives the information about the average number of employees to
enhance their work skill in Salary, Motivation and Guidance. Overall, a greater number of
employees will increase their work skill by motivation i.e., 38%. While lower number of
employees improve their work skill by the guidance which is of 26%. 36% percentage of the
employees will increase their work ability by salary.

5) Does your company offer any of the employee benefits?

Choices % Count

Insurance 34.00% 34

Retirement Benefits 35.00% 35

Fringe Benefits 24.00% 24

Any Other 7.00% 7

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Interpretation:
The above charts illustrate the proposal made by the company for employee benefits like
Insurance, Retirement benefits, Fringe benefits and any other. Overall, most of the companies
offer retirement benefits which is 35%. Whereas 8.3% of any other benefits are offered by the
companies. In addition, 33% of the companies offers insurance. As well as, fringe benefits
offered by the companies is of 24.8%. Furthermore, companies offering insurance and
retirement benefits are quite same.

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 6) Are you aware of all the employee benefits offered by your company?

Choices % Count

Yes 68.00% 68

No 32.00% 32

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Interpretation:

The above chart shows the number of employees are aware of all the employee
benefits which are offered by the their company. Highest number of employees are aware of
the benefits proposed by the company which is of 68 percentage. However, 32% percentage
of the employees are unaware of all the employee benefits.

7) Have you been given the opportunity to select among different employee benefit
plans?

Choices % Count

Yes 58.00% 58

NO 42.00% 42

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Interpretation:

The above pie chart depicts the information of that the employee have been given the
chance to select among different employee benefits plans.58 percentage of the employees
given the different employee benefits plans. Whereas 42 percentage of the employees are not
given opportunity.

8) Do you company offer Paid Time Of (PTO)?

Choices % Count

Yes 60.00% 60

No 40.00% 40

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Interpretation:
The above chart gives the information of the companies which offers Paid Time Of (PTO). 60
percentage of the companies are offering Paid Time Of. Whereas 40 percentage of the
companies are not offering PTO.

9) Have you made use of short term or long-term benefits of your company?

Choices % Count

Yes 67.00% 67

No 33.00% 33

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Interpretation:
The above chart gives the information of short term or long term benefits of the employees
company. Here 67 percentage of the employees have made use of short term or long term
benefits. In other hand, around 33 percentage of the employees are not used by these benefits.

10) On a scale of 1-5, How much do you agree with the full statement: Current employee
benefits meets any need?

Choices % Count
Strongly Agree 35.00% 35
Strongly Disagree 13.00% 13
Agree 40.00% 40
Disagree 4.00% 4
Neither Agree or Disagree 8.00% 8

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Interpretation:

The above bar chart illustrates the responses given by the employees for current employees
benefits met any need. Over all, majority of the employees are agreed to the statement that
employees benefits met their need i.e., 40%. Whereas, minority of the employees are
disagreed to the statement which is of 4%. Employees with strongly agreed to the statement is
around 35%. In addition,13% of the employees are strongly disagreed. Furthermore,
employees with neither agree nor disagree is of 8%.

11) Do your company offers bonuses for employees who refers new hires?

Choices % Count
Yes 63.00% 63
No 37.00% 37

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Interpretation:

As from the above pie chart, it indicates the bonuses which are offered by the
company for employees who refers new hires. 63 percentage of the employees responded that
they have been offered by the bonuses which are proposed by the company for referring.
Whereas 37 percentage of the employees are not offered bonuses.

12) Do your company offers employee stock option programs?

Choices % Count
Yes 59% 59
No 41% 41

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Interpretation:

The above bar chart indicates the information of company which is offered by
employee stock option programs. 59 percentage of the employees responded that they are
offered by employee stock option program. Where, 41 percentage of the employees are not
offered.

13) Do your company offers 360 degrees performance appraisals?

Choices % Count
Yes 77.00% 77
No 23.00% 23

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From the above pie chart we can see the information of company which offered 360degrees
performance appraisals.77 percentage of the employees are offered by the 360degrees
performance appraisals. Whereas, approximately 23 percentage of the employees are not
offered by the companies.

14) Does your organization regularly conduct a formal survey to know work place
satisfaction of your employees?

Choices % Count
Once a year 36.00% 36
Twice a year 30.00% 30
Less Often every other year 11.00% 11
As needed 23.00% 23

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Interpretation:

As from the above figure, it indicates the satisfaction of the employees by frequently
conducting the formal surveys about work place. Overall, majority of surveys was conducted
for work place satisfaction of employees during once a year with 36%. whereas minority of
the surveys was conducted less often every other year with a percentage of 11. The survey
conducted for the work place satisfaction during twice a year had 30 %. Furthermore, 23% of
the companies conducted as their need.

15) Overall, how are you satisfied with current employee benefits with your company?

Choices % Count
Delighted 23.85 26
Satisfied 55.96 61
Unsatisfied 15.6 17
Ungratified 4.59 5

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Interpretation:
The above pie chart illustrates the responses of employee satisfaction with current employee
benefits with their company. Overall, most of the employees with a percentage of 58 are
satisfied with employee benefits of their company. Whereas few employees are ungratified
i.e. 2%. The percentage of employees delighted with the employee benefits is 25%. In
addition, employees unsatisfied to benefits is of 15

CHAPTER 5

RESULTS

5.1 SUGGESTIONS:

● Few of them have suggested to ensure more employee benefits.

● Some of them have suggested to provide more additional benefits and qualitative

Services.

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 ● Few of them have suggested to provide better employee packages.

● Some of them have suggested that to make it safe for employee to share their ideas.

● Few of them have suggested to provide employee suggestion system.

5.2 FINDINGS:

● Most of the employees period of support with company is more than 7 years.
● 38% of the employees are expected to increase their work skill by motivation.
● Majority companies are offering retirement benefits i.e. 35%.
● 68% of the employees are aware of all the employee benefits offered by the company.
● Employees with percentage of 58 are given opportunity to select among different
employee benefit plans.
● 60% of the companies are offered by Paid Time Of(PTO), 67% of the employees are
make use of short term or long term benefits.
● The number of employees are satisfied with their company is 40%. And 63% of the
companies are offered by bonuses for employees who refers new hire.
● 59% of the companies are offered by employee stock option program. And 77% of the
companies are offering 360degree appraisals.
● The number of employees are satisfied with current employee benefits is 58%.

5.3 CONCLUSION:

Employee benefits as a whole have no direct influence on the performance of

employee, however, insufficient benefits contribute to the satisfaction of the low level and
absenteeism and turnover in workers increase. ... A well-designed compensation and benefits
plan helps attract motivate and retain talent in the company.

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 BIBLOGRAPHY

BOOK NAME AUTHOR

HUMAN RESOURCE MANAGEMENT J.P MAHAJAN
COMPENSATION GEORGE MILKOVICH
COMPENSATION MANAGEMENT DIPAK KUMAR BATTACHARYA
HUMAN RESOUCE MANAGEMENT PG AQUINAS

49
WEBSITES:

WWW.GOOGLE.COM

WWW.SURVEYHEART.COM

WWW.HR.COM

WWW.HR.BRL.COM

WWW.HR’EDU.ORG

QUESTIONNAIRE

A STUDY ON EMPLOYEE BENEFITS AND COMPENSATION OF RELIANCE

COMPANY:

1. Employee ID.
2. What is your age [ ]
3. Your gender [ ]
a) Male b) Female
4. Your designation [ ]
a) Executive b) Functional c) Junior d) Senior e) Assistant
5. Your period of support with company.[ ]

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 a) Less than 1 year b)1 to 3 years c)3to 5years d) 5 to 7 years d) more then 7 years
6. Expectation to improve your work skill.[ ]
a) Salary b) Motivation c) Guidance
7. Does your company offer any of the employee benefits?[ ]
a) Insurance b) Retirement benefits c) Fringe benefits d) Any other
8. Are you aware of all the employee benefits offered by your company?[ ]
a) Yes b) No
9. Have you been given the opportunity to select among different employee benefit
plans?[ ]
a) Yes b) No
10. Do you company offer Paid Time Of (PTO).[ ]
a) Yes b) NO
11. Have you made use of short term or long-term benefits of your company?[ ]
a) Yes b) No
12. On a scale of 1-5, How much do you agree with the full statement: Current employee
benefits meets any need.[ ]
a) Strongly agree b) Strongly disagree c) Agree
b) Disagree e) neither agree nor disagree
13. Do your company offers bonuses for employees who refers new hires.[ ]
a) Yes b) No
14. Do your company offers employee stock option programs.[ ]
a) Yes b) No
15. Do your company offers 360 degrees performance appraisals. [ ]
a) Yes b) No
16. Does your organization regularly conduct a formal survey to know work place
satisfaction of your employees?[ ]
a) Once a year b) Twice a year c) Less often every other year d) As needed
17. Overall, how are you satisfied with current employee benefits with your company.[ ]
a) Delighted b) Satisfied c) Unsatisfied d) ungratified

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