Académique Documents
Professionnel Documents
Culture Documents
Raipur”
Project Report
Submitted
To
Pt.RavishankarShukla University
For
By
PURVA TAWRI
6th semester
XX-37448
Approved By Guided by
DR.A.K TIWARI MRS. SARITA JASWANI GEHI
Principal Asst.Professor.
DISHA COLLEGE, Raipur Disha college
TABLE OF CONTENTS
1 Introduction
2 Company profile
3 Research methodology
4 Data and interpretation
5 Findings and limitation
6 Suggestion and conclusion
Annexture i. Bibliography
ii. Webliography
iii. Questionnaire
CERTIFICATE OF APPROVAL
DR. A. K. TIWARI
PRINCIPAL
This is to certify that the project report entitled “A STUDY ON EMPLOYEE SATISFACTION
TOWARDS WELFARE MEASURES AT AXIS BANK, RAIPUR”done by me is an authentic work
carried out for the partial fulfillment of the requirements for the award of the degree of
Bachelors of Business Administration under the guidance of Mrs. Sarita Jaswani Gehi.
Purva Tawri
This is to certify that the project work entitled “ A Study on Employee Satisfaction towards
welfare measures at Axis Bank, Raipur” partial fulfillment of the requirements for the
award of the degree of Bachelors of Business Administration, session 2018-2019 at Disha
College affiliated to Pt.Ravishankar Shukla university, Raipur, is carried out by Purva Tawri at
Disha College, under my supervision and guidance. The matter embodied in this project is a
genuine work done by the student and has not been submitted to any other University or
Institute for the award of any degree or diploma to the best of my known.
CHAPTER 1- INTRODUCTION
IMPORTANCE
The industrial progress depends on a satisfied labor force, and the importance of
employee welfare measures. After the placement of the employees, they should be given proper
training and programmers’ to develop their efficiency so as to serve the organizations
better. Welfare facilities are designed to take care of the well – being of the employees. They do
not generally result only in monetary benefit. These welfare measures are provided by
government Non – Government agencies and the employers.
INTRA - MURAL
Activities consists of such welfare schemes provided within the organizations as medical
facilities, compensation for accidents, provision of crèches and canteens, supply of drinking
water, washing and bathing facilities, provision of safety measures such as fencing and covering
of machines, good layout of the machinery and plant, sufficient lighting, first aid appliances, fire
extinguishers; activities relating to improving conditions of employment, recruitment, discipline
and provision of provident fund, pension and gratuity, and maternity benefits etc.
EXTRA – MURAL
Activities cover the services and facilities provided outside the organization such as,
housing accommodation, indoor and outdoor recreation facilities, amusement and sports,
educational facilities for adults and children, provision for libraries and reading rooms.
WELFARE OF EMPLOYEE
The factories act contains provisions about welfare of employee, these are as follows;
There shall be separate and adequately screened washing facilities for the use of male and female
employee.
There shall be suitable arrangement for all employees to sit for taking rest if they are obliged to
work in a standing position.
There shall be provided the required number of first aid boxes or cupboards (at the rate of one for
every 200 employees) equipped with the prescribed contents readily available during the
working hours of the organization.
CLEANLINESS
Every organization shall keep by daily sweeping or washing the floors and work rooms
and by using disinfectant where necessary. Walls, doors, and windows shall be repainted or
revarnished at least once in every 5 years.
VENTILATION
Effective arrangements shall be made for ventilation. So as to provide comfort to the
employee in there working environment.
DRINKING WATER
There shall be effective arrangements for wholesome drinking water employees at
convenient points. If their number is more than 250 then the arrangement shall be make for cool
drinking water during hot weather.
URINALS
There shall be sufficient number of urinals, clean, well ventilated, conveniently situated
and built according to prescribed standards separately for male and female employees.
EMPLOYEE WELFARE
The Oxford dictionary defines Employee Welfare as” efforts to make life worth living for
workmen”. These efforts have their origin either in some stature formed by the state of in some
local customer or in a collective agreement or in the employer’s own initiative. An employer
may voluntarily initiate labour welfare measures in his undertaking with the following
objectives.
To give expression to philanthropic and paternalistic feelings.
To win over employees loyalty and increase their morale.
To combat trade uniform and socialist ideas.
To build up stable lab our force, to reduce lab our turnover and absenteeism.
To develop efficiency and productivity among employees.
To save oneself from heavy taxes on public image.
To reduce the threat of further of government intervention.
To make recruitment more effective.
It is, however, difficult to precisely define the scope of labour welfare efforts, Different
writers have defined it in different ways. Some writers say that only voluntarily efforts on the
part of employers to improve.
1. Urinals.
2. Washing facilities.
3. Crèches.
4. Canteens.
5. Arrangements for drinking water.
6. Arrangements for prevention of fatigue.
7. Health service including occupation safety.
8. Administrative arrangements within an organization to look after employees.
SOCIAL SECURITY
International employee organization has defined the social security as “That security that
society furnishes, through appropriate organizations, against certain risks to which its members
are exposed”. These risks are ignorance, want, disease, squalor and unemployment. The man
requires freedom from these contingencies and the provisions against these risks can be labeled
as social security measures.
According to B.P. ADARKAR ‘Social security is the security that society furnishes
through appropriate organization against certain risks to which its members are exposed”. Social
security is that security which the society furnishes through appropriate organization against
certain risks or contingencies to its members to which are exposed.
Some of the social security measures introduced in the company are;
a) Compensation in case of industrial accidents and injury
b) Protection against illness
c) Maternity benefits to women employees.
d) Provident funds
e) Old age pension and gratuity
f) Health insurance
The connotation of the term ‘Social Security” varies from country to country with
different political ideologies. In socialist countries, the avowed goal is complete protection to
every citizen from the cradle to the grave. In other nations it is a measure of protection offered
to all needy citizens by means of schemes evolved by democratic process consistent with
resources of the state.
According to the social security convention adopted by the ILO in 1952, following are
the components of social security.
I. ESI
II. Provident fund.
III. Gratuity
IV. Bonus
V. Casual Leaves
VI. Sickness / Medical leaves
VII. Family security schemes
VIII. Insurance schemes
IX. Accident Benefits
X. Unemployment benefit
XI. Maternity benefit
Social security schemes may be of two types:
a. Social Assistance, under which the state finances the entire cost of the facilities and benefits
provided. Here benefits are paid after testing the financial position of the beneficiary.
b. Social Insurance, under which the state organizes the facilities financed by contributions from
the both the employees and employers with or without a subsidy from the state. Here, benefits
are paid on the basis of the contribution record of the beneficiary without testing his means.
3. To know the satisfaction level of employees regarding welfare activities and view
towards the bank policies of providing welfare facilities.
4. To analyze and suggest further improvement of existing employee welfare facilities in the
organization.
CHAPTER 2- COMPANY PROFILE
Axis Bank is the third-largest of the private-sector banks in India offering a comprehensive suite
of financial products. The bank has its head office in MUMBAI, Maharashtra. It has 4000
branches as of 25 March, 2019. It has 12,705 ATMs and 3.548 cash recyclers spread across the
country as on 31 December, 2018 and ten international officers. The bank employs over 55,000
people and had a market capitalization of Rs.1.13 trillion(as on March 21,2018). It sells financial
services to large and mid-size corporates, SME, and retail businesses.
Axis Bank offers a range of individual and group solutions, which can be easily
personalized to specific needs. Its group solutions have been planned to offer complete
flexibility, together with a low charging structure.
As of 30 June 2016, 30.81% shares are owned by promoters and promoter group (United India
Insurance Company Limited, Oriental Insurance Company Limited, National Insurance
Company Limited, New India Assurance Company Ltd, GIC, LIC and UTI).The remaining
69.19% shares are owned by mutual funds, FIIs, banks, insurance companies, corporate bodies,
and individual investors among others.
HISTORY
UTI Bank opened its registered office in Ahmedabad and corporate office in Mumbai in
December 1993.The first branch was inaugurated on 2 April 1994 in Ahmedabad by Dr.
Manmohan Singh, the then Finance Minister of India. UTI Bank began its operations in 1993,
after the Government of India allowed new private banks to be established. The Bank was
promoted in 1993 jointly by the Administrator of the Unit Trust of India (UTI-I), Life Insurance
Corporation of India (LIC), General Insurance Corporation, National Insurance Company, The
New India Assurance Company, The Oriental Insurance Corporation and United India Insurance
Company.
In 2001 UTI Bank agreed to merge with and amalgamate Global Trust Bank, but the Reserve
Bank of India (RBI) withheld approval and nothing came of this. In 2004 the RBI put Global
Trust into moratorium and supervised its merger into Oriental Bank of Commerce.
In 2003 UTI Bank became the first Indian bank to launch the travel currency card.
UTI Bank opened its first overseas branch in 2006 Singapore. That same year it opened a
representative office in Shanghai, China. UTI Bank opened a branch in the Dubai International
Financial Centre in 2007. That same year it began branch operations in Hong Kong. In 2008 it
opened a representative office in Dubai.
With effect from July 30, 2007, UTI Bank changed its name to Axis Bank.
Axis Bank opened a branch in Colombo in October 2011, as a Licensed Commercial Bank
supervised by the Central Bank of Sri Lanka. Also in 2011, Axis Bank opened a representative
offices in Abu Dhabi. In 2011, Axis bank inaugurated Axis House, its new corporate office in
Worli, Mumbai.
In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations. Axis Bank UK
has a branch in London.
The bank has over 50,000 employees (as of 31 March 2016). The bank incurred ₹26.7 billion
(US$370 million) on employee benefits during the FY 2012–13. The average age of an Axis
Bank employee is 29 years. The attrition rate in Axis Bank is approximately 9% per year.
SERVICES
Retail Banking:-
In the retail category, the bank offers services such as lending to individuals and small businesses
subject to the orientation, product and granularity criterion, along with liability products, card
services, Internet banking, automated teller machines (ATM) services, depository, financial
advisory services, and Non-resident Indian (NRI) services.[21] Axis bank is a participant in
RBI's NEFT enabled participating banks list.
Corporate Banking:-
:The bank offers various loan and fee-based products and services to large and mid-corporate
customers and small and medium Enterprise (SME) businesses. These products and services
include cash credit facilities, demand and short-term loans, project finance, export credit,
factoring, channel financing, structured products, discounting of bills, documentary credits,
guarantees, foreign exchange and derivative products. Liability products including current
accounts, certificates and deposits and time deposits are also offered to large and mid-corporate
segments.
Transaction Banking :-
Formed in April 2015, TxB provides integrated products and services to customers in areas of
current accounts, cash management services, capital market services, trade, foreign exchange and
derivatives, cross-border trade and correspondent banking services and tax collections on behalf
of the Government and various State Governments in India.
Treasury :-
The treasury manages the funding position of the bank and also manages and maintains its
regulatory reserve requirements. It invests in sovereign and corporate debt instruments and
engages in proprietary trading in equity and fixed income securities, foreign exchange,
currency futures and options. It also invests in commercial papers, mutual funds and floating
rate instruments as part of the management of short-term surplus liquidity. It also offers a
wide range of treasury products and services to corporate customers.
Syndication :-
The bank also provides services of placement and syndication in the form of local currency
bonds, rupee and foreign term loans and external commercial borrowings.
International banking :-
The bank continues to offer corporate banking, trade finance, treasury and risk management
through the branches at Singapore, Hong Kong, DIFC, Shanghai and Colombo, and also retail
liability products from its branches at Hong Kong and Colombo. The representative office at
Dhaka was inaugurated during the current financial year.
SUBSIDIARIES
The Bank has ten wholly owned subsidiaries:
2010
Best Debt House in India – Euromoney.
Best Domestic Debt House in India – Asia money.
Overall Winner & Consistent Performer -(Large Banks Category) - Business Today Best
Bank Awards 2010.
2011
Bank of the Year – India –The Banker Awards 2011.
2012
Bank of the Year - Money Today FPCIL Awards 2012-13.
Best Private Sector Bank - CNBC-TV18 India’s Best Bank and Financial Institution
Awards 2012.
Consistent Performer - India’s Best Banks – 2012 Survey by Business Today & KPMG.
Gold Shield for Excellence in Financial Reporting in the Private Banks category - 2011-
12 - ICAI (Institute of Chartered Accountants of India)
2013
Axis Bank ranked No 1 company to work for in the BFSI sector - 'The Best Companies to
Work for' survey by Business Today.
Ranked No 1 in the IT Biz Award - large enterprises category by Express IT Awards.
Innovation for 2013 for Ladies First card under ‘the Most Innovative Broad Based
Product Offering’ category- IBA Innovations Award.
2014
Axis Bank Foundation conferred Outstanding Corporate Foundation at Forbes India,
Philanthropy Awards, 2014.
Best Domestic Bank in India- Asia-money Best Banks 2014.
Best Bank Award among Large Banks for IT For Business Innovation- IDRBT Banking
Technology Excellence Awards 2014.
Axis Bank featured for the fourth time in Asia's Fab50 companies for 2014 by Forbes
Asia.
Best Bank for Rural Reach in the Private Sector and Best Retail Growth Performance in
the Private Sector category- Dun & Bradstreet-Polaris Financial Technology Banking
Awards 2014.
2015
Axis Bank has been adjudged winner in the Best Bank Category, Outlook Money Awards
2015.
Axis Bank awarded for the Best Security among Private Sector Banks in India by Data
Security Council of India (DSCI).
Axis Bank conferred the Certificate of Recognition for excellence in Corporate
Governance by the Institute of Company Secretaries of India (ICSI), for the year 2015.
Best Domestic Bank in India- Asia money Best Banks 2015.
Axis Bank's Mobile App tops Forrester Research's review of Smartphone Mobile
Banking Apps in India.
Axis Bank was selected as the Best Private Sector Bank under the category Rural Reach
at the Dun & Bradstreet Banking Awards 2015.
Axis Bank has been conferred with IDRBT Best Bank Award for Digital Banking,
Analytics & Big Data among large banks.
Axis Bank has been featured in Limca Book of Records 2015 for creating a National
Record for its campaign - 'Plant a Sapling'.
Axis bank has been awarded the title of Super brand 2014-2015, by Super brands.
No. 1 Promising Banking Brand of 2015, Economic Times Awards 2015.
Winner in the 'Best Payment Initiatives' category amongst Private Sector Banks, IBA
Banking Technology Awards 2015.
Axis Banks's equity shares are listed on the Bombay Stock Exchange and National Stock
Exchange of India. The company's global depository receipts (GDRs) are listed on the London
Stock Exchange. The Bonds issued by the Bank under the MTN programme are listed on the
Singapore Stock Exchange.
CHAPTER-3
RESEARCH METHODOLOGY
3.1 RESEARCH :- Research is a process of finding solution to a problem after a
thorough study and analysis of the situational factors.
RESEARCH METHODOLOGY :-
Preliminary stage of study – a employee satisfaction, potential employee and
existing employee numbering 25 was conducted to arrive at key deliverables,
which would ensure employee satisfaction.The research tool (questionnaire )used
was designed by the various queries, based in the deliverable, which would reflect
the employee satisfaction.
RESEARCH DESIGN :-
“Research design is the arrangement of activities for the collection and analysis of
the data in a manner that aims to combine relevance to the purpose with economy
in procedure.
For this study the design used was descriptive. Descriptive design as the
name itself implies, is conducted to describe something. This study describes the
factors that lead to the performance appraisal system existing in AXIS BANK.
Here the descriptive research was conducted to find out the information about the
factor and to spot light the areas that need the management’s attention.
Source of data
Both primary and secondary data were collected for this study.
Primary data :-
The objective of the study has been accomplished with the help of primary
data collected from 25 workers.
The pre-decided number of samples has been selected based on the
(Probability Sampling) simple random sampling method. For the selection of
samples from the personnel department, from the list of 35 workers by name,
department, and nature of duty have been collected and from this list 25 samples
have been selected randomly for the present study.
The selected samples are met in person and the required data have been
collected with the help of a structured questionnaire.
Secondary data :-
Secondary data are those data, which are already available in internal
records, trade or government publication and are already gathered for some
purpose. It includes those data which are collected for some earlier research work
and are applicable in the study that the researcher has presently undertaken. The
process of secondary data collection and analysis is called desk research. Methods
of collecting secondary data are:-
- Semi govt. publication.
- Publications of universities and research institutes.
- Publications of commercial and financial institutions.
- Report of commission and committees.
- Newspaper and periodicals.
- Publications of international bodies.
SAMPLING DESIGN
Sampling Method
The entire group from which a sample is chosen is known as sampling unit.
The research data was collected from employees of Axis Bank.
SIZE OF POPULATION
The population size was 35. Out of which, we have selected 25 employees.
SAMPLING TECHNIQUE
The technique used for the research is Probability Sampling because the
population is finite. The Sampling technique selected for the study is Simple
random sampling technique. It is one where respondents are selected from the total
population.
Simple random sample is a group of subjects (a sample) chosen from a
larger group (a population). Each subject from the population is chosen randomly
and entirely by chance such that each subject has the same probability of being
chosen at any stage during the sampling process. This process and technique is
known as Simple Random Sampling.
The collected data have been analyzed with the help of tools like simple
percentage method.
Interpretation :
The above graph shows that Employees has been working for more than 5 years
in the firm. The chart also shows that % of employees are working since years.
And employees are working for years.
Que. 2. Which welfare facilities are available to you on routine basis at Axis
Bank? Please select :
Interpretation :
Interpretation :
The above pie chart shows that % of the employees are satisfied and % of
employees are not satisfied with the working environment and ventilation facility
provided by the organization.
Que. 4. Rate the employee recreation facility provided to you at Axis Bank ?
Interpretation :
Interpretation :
The above pie chart shows that % of the employees are satisfied and % of
employees are not satisfied with the various welfare measures provided by the
organization and doesn’t give them a feeling of safety.
Que. 6. How frequently do you get increments ?
Interpretation :
Que. 7. Rate the overtime allowance offered to you by Axis Bank ?
Interpretation :
Que. 8. Are you satisfied with the maternity benefits provided to you at Axis
Bank Lmt..?
S. No. Particulars Respondent Percentage
A Satisfactory
B Averagely Satisfactory
C Dissatisfactory
D Highly Dissatisfactory
Total 100%
CHAPTER – 5
FINDINGS AND LIMITATIONS
FINDINGS
3. The data was collected during the working hours. Employees were busy
in their routine work, so they were less responsive.
4.
5.
CHAPTER – 6
In this process, it must provide sophisticated facilities to the employees so that they
can completely dedicate their services to the firm. And this project is one that
explains the methods and implementation of “ HUMAN RESOURCE ”.
ANNEXURE
BIBLIOGRAPHY
WEBLIOGRAPHY
www.google.com
www.wikipiedia.com
www.educationplus.com
www.scribd.com
QUESTIONNAIRE
Dear Sir/Madam, I Purva Tawri, BBA 6th semester, student of Disha college, Pt.
Ravishankar Shukla University, Raipur (c.g.) , doing my project work entitled “A
study on employee satisfaction towards welfare measures provided at Axis
Bank, Raipur.” So, I request you to please give your valuable feedback on
questionnaire. The information will be kept confidential and used for academic
purpose only.
Thanking you.
Employee name :-
Designation :-
Department :-
1) Since how many years, you are working with this organisation?
(a). 1 year.
(b). 2-5 years.
©. 5-10 years.
(d). More than 10 years.
2) Which welfare facilities are available to you on a routine basis at Axis bank?
Please select:
(a). Educational.
©. Maternity benefits
(d). Recreation
3) Are you satisfied with the working environment and the ventilation provided to you by
your organisation?
(a) Highly satisfied
(b) Satisfied
(c) Neutral
(d) Unsatisfied
5) Do you think employee welfare activities of the organisation gives you a feeling of safety
and improves your performance?
(a) Great extent
(b) Satisfactory
(c) Limited extent
(d) Dissatisfactory
(b). In 2 years
© . In 3 years.
(b). Satisfactory
©. Average
(d). Dissatisfactory
8). Are you satisfied with the maternity benefits provided to you at Axis bank lmt.?
(a). Satisfactory
9). How do you rate the medical benefits provided by the organisation for the employees and
their families?
Highly satisfied
Satisfied
Neutral
Satisfied
Highly satisfied
10). What are the allowances paid by your company? Please tick from the following.
( ) Bonus
( ) Vehicle
( ) Medical
( ) Loans
11). Does the welfare measures helps you in solving the problems faced by employees?
(b). Satisfactory
©. Limited extent
(d). Dissatisfactory
Highly satisfied
Satisfied
Dissatisfied
Neutral
14). According to your perception, please rate the following benefits of employee welfare
measures:-
Benefits 1 2 3 4 5
Loyalty towards work
15). Does welfare benefits provided by the organisation plays a motivational role towards your
work?
( c).Satisfactory
(d). Dissatisfactory
16). Rate the overall satisfaction with employee welfare activities provided by your bank on
scale of 10.
1 2 3 4 5 6 7 8 9 10