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INTRODUCTION TO RESEARCH DESIGN

1.1 INTRODUCTION
Welfare is comfortable living and working conditions. People are the most important asset of an organization, and the accounting profession has to assess and record the value and cost of people of an organization. Once this is accepted, the need for measuring the value for recording it in the books of accounts arises. The value of human assets can be increased substantially by making investment in their training and welfare activities in the same way as the value of repairs/ overhauling, etc.

While the cost on training, development, etc., can be recorded separately and to be within the eventual, the expenditure on welfare activities can be added to the investment and the returns judged. Unlike other assets which have depreciation value as years passes by, value of human assets appreciates with passing years. The value can depreciate by aging process which is generally hastened up by worries, unhealthy conditions, etc. once this process is slowed down, or at least if the employee is made to feel young in spirits the value of this asset appreciates considerably. Any investment constitutes the assets of a company and therefore, any investment for welfare of labor would constitute an extra investment in an asset. Industrial progress depends on a satisfied labor force and the importance of labor welfare measures was stressed as early as1931, when the Royal Commission on labor stated the benefits which go under this nomenclature, are of great importance to the worker and which he is unable to secure by himself. The schemes of labor welfare may be regarded as a wise investment which should and usually does bring a profitable return in the form of greater efficiency.

The basic features of labor welfare measures are as follows: 1. Labor welfare includes various facilities, services and amenities provided to workers for improving their health, efficiency, economic betterment and social status. 2. Welfare measures are in addition to regular wages and other economic benefits available to workers due to legal provisions and collective bargaining 3. Labor welfare schemes are flexible and ever-changing. New welfare measures are added to the existing ones from time to time. 4. Welfare measures may be introduced by the employers, government, employees or by any social or charitable agency. 5. The purpose of labor welfare is to bring about the development of the whole personality of the workers to make a better workforce. 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 and also to raise their standard of living. The important benefits of welfare measures can be summarized as follows:

They provide better physical and mental health to workers and thus promote a healthy work environment

Facilities like housing schemes, medical benefits, and education and recreation facilities for workers families help in raising their standards of living. This makes workers to pay more attention towards work and thus increases their productivity.

Employers get stable labor force by providing welfare facilities. Workers take active interest in their jobs and work with a feeling of involvement and participation.

Employee welfare measures increase the productivity of organization and promote healthy industrial relations thereby maintaining industrial peace.

The social evils prevalent among the labors such as substance abuse, etc are reduced to a greater extent by the welfare policies.

The concept of labor welfare is flexible and elastic and differs widely with times, regions, industry, country, social values and customs, degree of industrialization, the general socioeconomic development of the people and the political ideologies prevailing at particular moments. It is also according to the age group, socio-cultural background, marital status, economic status and educational level of the workers in various industries.

1.2 STATEMENT OF THE PROBLEM

The liberalization, privatization and globalization of Indian economy in the last few years have presented unprecedented challenges to the decision makers in government, industry and service sectors to compete in the global market with competitive edge necessitates the industry to improve its productivity and quality of products. This objective cannot be achieved unless and until the workers are highly satisfied with the working environment and welfare facilities, which have an important impact in industrial relations. L & T is very eager to find out whether the present welfare facilities given to the employee is satisfactory and is it affecting their performance in the organization. The study will help them to find out if they are fulfilling the needs of employees and if they are following the legal provisions. Hence, this project is undertaken to know the present welfare facilities at L & T and an assessment on their performance with reference to the welfare measures adopted and to suggest suitable measures to further enhance them. There should be balance between these two .In this aspect, not only the statutory provision should be compiled with but the employers must also strive to provide certain voluntary and mutual welfare measures to ensure employee satisfaction. Therefore a study of the statutory, non-statutory and mutual measures provided by the organization and the satisfaction level of employees towards these welfare measures and its impact on job satisfaction, but also to draw suggestions and conclusions which would enable the organization to make improvements in its welfare measure if necessary.

1.3 REASON FOR CHOOSING THE STUDY

In current scenario Welfare of Employees is very important for the development of the organization as well as the employee. Most of the organizations gives important to Welfare of the employee but some industries have not so, for that the industries have faced some problems also. To understand the importance of Welfare Measures, to prove the relations between the organizations growth and Welfare of employees, the present study has taken.

1.4 OBJECTIVES OF THE STUDY

1.4.1 PRIMARY OBJECTIVE To study the satisfaction level of various welfare benefits provided by L&T to their employees. 1.4.2 SECONDARY OBJECTIVE To understand how welfare measures improve the motivation of the Employees. To find out employees preference regarding welfare measures which they like to have in future. To know the satisfaction level of overall welfare measures provided by the organization

1.5 HYPOTHESES OF THE STUDY

There is no significant difference exist among the respondents opinion about the price of the canteen food based on their experience. There is no significant difference exist among the respondents opinion about the quality of food based on their marital status. There is no significant difference exist among the respondents opinion about the welfare benefits provided by the organization based on their cadre. There is no significant difference exist among the respondents opinion about the overall welfare benefits provided by the organization based on their cadre

There is no significant difference exist among the respondents opinion about the educational allowance provided by the organization based on their cadre. There is no significant difference exist among the respondents opinion about the crche facility provided by the organization based on their marital status.

1.6- RESEARCH METHODOLOGY

Research Methodology is a way to systematically solve the problem. It may be understood as science of studying how research is done scientifically. The scope of research methodology is wider than that of research methods. Research Methodology is the investigation of specific problem in detail. At first problem is defined carefully for conducting research. There should be a good research plan for conducting research. No research can be done without data collection. After all this analyze is made for getting solution for problem. 1.6.1RESEARCH DESIGN The type of research design used in the project was descriptive research, because it helps to

describe a particular situation prevailing within the organization. Careful design of the descriptive studies is necessary to ensure the complete interpretation of the situation and to ensure minimum bias in the collection of data.

1.6.2 DATA COLLECTION METHOD PRIMARY DATA The primary data has been collected through the Questionnaire. The Questionnaire has been properly prepared in order to cover all the Information required for the study. The primary data has been obtained by interaction with the officials and staff in the division in the organization and also obtained through the Questionnaire distributed to the persons in different departments in that particular division. SECONDARY DATA

Data which has already gone through the process of analysis or were used by someone else earlier is referred to secondary data. In this the data was collected from the books, journals, company records etc. 1.6.3RESEARCH INSTRUMENT A structured questionnaire has been framed. It contains both open ended questions and multiple choice questions.

1.6.4 SAMPLING Sampling is the process of selecting a sufficient number of elements from the population, so that a study of the sample and an understanding of its properties or characteristics would make it possible for us to generalize such properties or characteristics to the population elements.

1.6.4. I SAMPLE DESIGN

Probability sampling method was used in this project. Since population was not of a homogenous group, Stratified technique was applied so as to obtain a representative sample. The employees were stratified into a number of subpopulation or strata and sample items (employees) were selected from each stratum on the basis of simple random sampling.

1.6.4. II POPULATION The total population of the organization is 600. 1.6.4. III SIZE OF THE SAMPLE For a research study to be perfect the sample size selected should be optimal i.e. it should neither be excessively large nor too small. Here the sample size was bounded to 60, where the sample selected.

1.6.5 STATISTICAL TOOLS USED Following are the statistical tools used to analyze the data collected using questionnaire 1. Simple percentage analysis. 2. ANNOVA. 3. Weighted Average

FORMULAE
1.6.6.I SIMPLE PERCENTAGE ANALYSIS One of the simplest methods of analysis is the percentage method. It is one of the traditional statistical tools. Through the use of percentage, the data are reduced in the standard form with the base equal to 100, which facilitates comparison. The formula used to compute Percentage analysis is,

1.6.6.II ANALYSIS OF VARIANCE ANALYSIS OF VARIANCE Professor R.A. Fisher developed an elaborate theory, (ANOVA) Analysis Of Variance. The basic principle of ANOVA is to test for differences among the means of the populations by examining the amount of variation.

One Way ANNOVA The method of measuring this variation is variance, which is standard deviation squared.

Total variation (SST)

Variation due to difference

between the groups, i.e. between the group means. (SSG)

Residual (error) variation not due to difference between the group means. (SSE)

Source Between groups

S.S SSG

Df k1

M.S.S.
SSG MSG k 1 SSE MSE Nk

Errors Total

SSE SST

(N-1) - (k-1) N1

MSG F MSE

Where SST = Total Sum of Squares; SSG = Sum of Squares between the groups; SSE = Sum of Squares of Errors; df = Degree of freedom
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1.6.6.III. WEIGHTED AVERAGE METHOD

When the relative importance of the different observations is not the same, we compute weighted average method. Formula XW = Weighted average Xi = Variable Wi = Weight attached to the variable Xi

1.6.7 DATA REPRESENTATION TOOLS Using the following tools the data were represented. 1. Tables 2. Pie-charts 3. Bar-charts

1.7 LIMITATIONS OF THE STUDY

The sample size is constrained to 60 due to limited time. Some of the respondents were busy, so they not shown interest to fill the questionnaire.

1.8 CHAPTER SCHEMA

Chapter Schema is an overview of the study, this study contains seven chapters which contains related information about the Work Life Balance and related information about the study as follows

Chapter 1: - About the introduction to the study, Statement of problem, Importance of study, Objectives of study, Hypothesis, Scope of study, Research Methodology, Limitations. Chapter 2: - About the Review of Literature regarding Employees Welfare Measures Chapter 3: Industry profile of Construction Industry. Chapter 4: - About L&T Construction PT & D profile where the research is done. Chapter 5: - Introduction to Employees Welfare Measures Chapter 6: -Data Analysis and Interpretation Chapter 7: - Findings, Suggestions and Conclusion.

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