A PROJECT REPORT ON ANALYSIS OF THE EMPLOYEE WELFARE FACILITIES IN BANK OF INDIA

SUBMITTED By

PGDBA

SYMBIOSIS CENTRE FOR DISTANCE LEARNING

NO OBJECTION CERTIFICATE

This is to certify that ------------------ is permitted to use relevant Data/information of this organization for his project in fulfillment of the Post Graduate Diploma in Business Administration Program. We wish him all the success.

Seal of the company:

Place: Pune Date: 30/05/2011

DECLARATION BY LEARNER

This is to declare that I have carried out this project work myself in part fulfillment of the Post Graduate Diploma in Business Administration Program of SCDL. The work is original, has not been copied from anywhere else and has not been Submitted to any other University/Institute for an award of any degree/diploma.

Date: 30/05/2011

Place: Pune

CERTIFICATE OF SUPERVISOR

Certified that the work incorporated in this Project Report ANALYSIS OF THE EMPLOYEE WELFARE FACILITIES submitted by -------------- is his original work and completed under my supervision. Material obtained from other sources has been duly acknowledged in the Project Report.

Date: 30/05/2011 Place: Pune

Mr. --------------------Senior Manager Bank Of India

Employee Welfare Facilities Of The BANK OF INDIA

TABLE OF CONTENTS

SR No.

TITLE

PAGE NUMBER

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15.

EXECUTIVE SUMMARY OBJECTIVES OF THE STUDY SCOPE OF THE STUDY COMPANY PROFILE THEORETICAL BACKGROUND RESEARCH METHODOLOGY DATA ANALYSIS GRAPHICAL REPRESENTATION FINDINGS LIMITATIONS CONCLUSION SUGGESTIONS BIBILOGRAPHY ABBREVIATIONS ANNEXURE

6 8 10 12 20 40 44 48 65 67 69 71 73 74 75

Executive summary

Title of the project is Analysis of employee Welfare Facilities .

This project is undertaken at Bank Of India by ---------------- , under the guidance of Mr. -----------------.

I choose to undertake my project at Bank Of India because it is repudiated bank where the HR department has major role to play.

The main aspect of the project is to study and learn the employee welfare facilities carried out by the bank and to find out the response of the employees towards employee welfare facilities provided by the bank.

The main objectives of the project is :

To study employee welfare programmes carried out by the bank.

To carry out in depth analysis of the existing employee welfare facilities and suggesting improvements if necessary. To check the level of awareness of the employees towards the welfare facilities provided by the bank.

Research methodology is uses to for the analysis are questionnaires, personal interview and discussion with workers.

The statutory Welfare , Non statutory Welfare Facilities and Welfare schemes provided by the company are found to be satisfactory .

Objectives Of The Project

 ANALYSIS OF EMPLOYEE WELFARE FACILITIES :

PRIMARAY OBJECTIVES:

1.The primary objective of the project is to study the employee welfare facilities provided by the bank to all the employees and to carry out an in depth analysis of the existing employee welfare facilities provided by the bank by the use of questionnaire.

2.To find out the response of the employees towards welfare facilities provided by the bank through personal discussion, interviews and by the use of questionnaire.

SECONDARY OBJECTIVES :

To observe and learn the employees welfare programmes carried out by the bank.

To check the level of awareness of the employees towards the welfare facilities provided by the bank.

To study and analyze the knowledge of the workers towards the welfare schemes provided by the bank by use of questionnaire.

 Scope Of The Project

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The project was undertaken at Bank of India Pune.

There are many departments in Bank Of India. Hence for the study , randomly employees were selected from different departments like Marketing department, Finance department, HR department

It was an internal survey i.e. it was restricted to the boundaries of the bank.

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 COMPANY PROFILE :

COMPANY (BANK) INFORMATION :

NAME & ADDRESS OF COMPANY: BANK OF INDIA COPORATE OFFICE SHIVAJINAGAR PUNE 411005. VISION AND MISSION: 1. Vision : The bank has declared its Vision Statement which is as underTo become the bank of choice for corporates, medium businesses and upmarket retail customers and to provide cost effective developmental banking for small business, mass market and rural markets. 2. Mission: Parallel on the above Bank has mission statement also which is as underTo provide superior, proactive banking services to niche markets globally, while providing cost-effective, responsive services to others in our role as a development bank, and in so doing, meet the requirements of our stakeholders.

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 HISTORICAL BACKGROUND : The Birth : The Bank was founded in 7th September 1906 as a private entity and was nationalised in July 1969. Beginning with a paid up capital of 50 lakhs and 50 employees in Mumbai. The Childhood : Known as a common man's Bank since inception, its initial help to small units has given birth to many of today's industrial houses. After nationalization in 1969, the Bank expanded rapidly. It now has 3101 Branches all over India and 29 Branches outside India. It is also expanding by opening more Branches every year. The Bank has the one of largest network of Branches by any Public sector Bank in India. Our Logo :

The Deepmal : With its many lights rising to greater heights.

The Pillar : Our institution- Symbolising strength.

The Diyas : Our Branches- Symbolising service.

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The 3 M's : Symbolising 1 2 3 Mobilisation of Money Modernisation of Methods and Motivation of Staff.

Our Aims :

We at Bank of India are Committed to become Bank of Choice by providing Superior , Pro-Active, Innovative and State Of Art Banking Services with an Attitude of Care and Concern for the Customers and Patrons.

Our Social Aspect :

The bank excels in Social Banking, overlooking the profit aspect; it has a good share of Priority sector lending having its branches in rural areas.

Attributes of the bank : 1. Bank offers Depository services and Demat facilities. 2. All the branches of the Bank are fully computerized. 3. The Bank has a vast network ATMs with VISA connectivity. 4. The Bank has also tied up with National Financial Switch (NFS) having membership of number of banks and MITR having membership of banks to enable the Banks cardholders to access the ATMs of these member banks.

5. The Bank has rolled out nearly all branches under Core Banking Solution. The business covered under CBS branches is 86%. 14

6. The Bank has soft launched multiple delivery channels like Internet Banking, Phone Banking and Mobile Banking. 7. Real Time Gross Settlement (RTGS) scheme is implemented at 604 branches. Instant Remit facility is made available on RTGS platform at these 604 branches. National Electronic Funds Transfer (NEFT) is also made available at these 604 branches. 8. For Bank assurance, the Bank has tied up with United India Insurance Co. Ltd for general insurance and with Life Insurance Corporation of India for life insurance. 9. The Bank has tied up with 15 leading mutual funds for distribution of various schemes of mutual funds.

PRODUCT PROFILE : The various products offered by the Bank includesI. Deposit products II. Credit facilities III. Other Banking Services IV. Techno products V. Para Banking services

ORGANISATIONAL CHART
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Board Of Directors

Chairman And Managing Director

Executive Director

Scale VII (General Manager)

Scale VI (Deputy General Manager)

Scale V (Assistant General Manager)

Scale IV (Chief Manager)

Scale III (Senior Manager)

Scale II (Manager)

Scale I (Deputy Manager) Line Executive

Frontline Executives

Sub Staff

Watch And Ward Staff

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Board of Directors

1. Shri. Alok Kumar Misra 2. Shri B. A. Prabhakar 3 Shri N. Seshadri 4. Shri Kuttappan K. Nair 5. Shri Tarun Bajaj 6. Shri G. Mahalingam 7. Shri Harvinder Singh 8. Shri M.N. Gopinath 9. Shri Prakash P. Mallya 10. Shri P.M. Sirajuddin 11. Dr. Shantaben Chavda

Chairman and Managing Director Executive Director Executive Director Non official Director Government Nominee Director RBI Nominee Director Officer Employee Director Shareholder Director Shareholder Director Shareholder Director Part Time Non Official Director

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 CORE VALUES :

The Bank of India has always sought to be a value- driven bank. These values continue to direct the groups growth. The five core values underpinning the way they do are as follows :

* INTEGRITY * UNDERSTANDING * EXCELLENCE * UNITY * RESPONSIBILITY

Integrity :

They must conduct their work fairly, with honesty and transparency. Everything they do must stand the test of public scrutiny.

Understanding:

They must be caring , show respect , compassion , and humanity towards their colleagues and customers.

Excellence:

They must constantly strive to achieve the highest possible standards in their day to day work.

Unity:

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They must work cohesively strive with their colleagues across the group and with their customers and building strong relationship based on tolerance , understanding and mutual cooperation.

Responsibility:

They must continue to be responsible in which they work , always ensuring that what comes from the people goes back to the many times over.

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Theoretical background

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 HISTORY OF EMPLOYEE WELFARE

DEFINITION:

The Oxford Dictionary defines , Employees welfare as Efforts to make life worth living for workmen .

According to Dr. Parandikar , Labour welfare work is work for improving the health , safety and general wellbeing and the industrial efficiency of the workers beyond the minimum standard laid down by labour legislation .

The Encyclopedia Of Social Sciences defines , The voluntary efforts of the employees to establish , within the existing industrial system , working and sometimes living and cultural conditions of employees beyond what is required by law , the custom of the industry and the conditions of market.

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 AIMS AND OBJECTIVES :

The aim and objective of welfare activities is partly humanitarian to enable workers to enjoy a fuller and richer life. And partly economic to improve the efficiency of the workers and partly civic to develop among them a sense of responsibility and dignity and thus make them worthy citizens of the nation. Another objective of labour welfare is to fulfill the aspirations of labour.

IMPORTANCE :

Labour welfare work serves the following purposes :

Enables workers to have a richer and more satisfying life.

Raises the standard of living of the workers by indirectly by reducing the burden on their pocket. Welfare measures will improve the physical and psychological health of employees , which in turn, will enhance their efficiency and productivity.

Absorbs the shocks injected by industrialization and urbanization on workers.

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Promotes a sense of belonging among workers , preventing them from restoring to unhealthy practices like absenteeism , between employees and employers. It promotes a real change of heart and a change of outlook on the part of both the employees and employers .

Prevents social evils like drinking , gambling , prostitution , etc ., by improving the material , social , cultural conditions of work . Congenial environment as a result of welfare measures will act as a deterrent against.

PRINCIPLES :

The following are some of the principles to be kept in mind for successful implementation of any welfare programme in an organization:

1. The labour welfare activities should pervade the entire hierarchy of an organization. Management should be welfare oriented at every level.

2. The employer should look after the welfare of his employees as a matter of social obligation. The Constitution of India in its Directive Principles of State policy , also emphasis this aspect pf labour welfare.

3. The employer should not bargain labour welfare as a substitute for wages or monetary incentives. In other words , workers have a right to adequate wages in addition to welfare measures.

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4. Labour Welfare must aim to helping employees to help themselves in long run. This principle of self help will enable them to become more responsible and more efficient. 5. There should be proper co ordination , harmony , and integration of all labour welfare services in an undertaking.

6. The labour welfare work of an organization must be administratively viable and essentially development oriented.

7. The management should ensure Co-operation and active participation of unions and workers in formulating and implementing labour welfare programmes. .

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 TYPES OF WELFARES :

Statutory Welfare Facilities. Non Statutory Welfare Facilities.

1. STATUTORY WELFARE PROVISIONS :

Employees in India are statutorily comply with the provision of various welfare amenities under different labour legislations. The statutory welfare facilities provided under Factories Act 1948 are as follows :

1. Washing facilities. ( S.42) 2. Facilities for storing and drying clothing. ( S.43) 3. Sitting facilities for occasional rest for workers who are obliged to work standing. ( S.44) 4. First aid boxes or cupboards one for every 150 workers and ambulance facilities if there are more than 500 workers. ( S.45) 5. Canteens if employing more than 250 workers. (S.46) 6 .Shelters , rest rooms and lunch rooms , if employing over 150 workers. (S.47) 7. Crche , if employing more than 30 women. (S.48) 8. Welfare officer , if employing 500 or more workers.

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2. NON STATUTORY WELFARE MEASURES :

There are certain employers especially in the organized sectors of industry , who have promised a wide variety of welfare amenities and services to their employees.

1. Educational facilities. 2. Medical facilities. 3. Transport facilities. 4. Recreational facilities. 5. Housing facilities. 6. Consumer Co operative Societies.

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 THEORIES OF LABOUR WELFARE :

Seven theories , constituting the conceptual framework of labour welfare , so far been outlined

These are :

1.The Police Theory :

According to this theory , owners and managers of industrial undertakings get many opportunities for exploitation of labour.

2.The religious policy : According to this theory , any good work is considered as an investment by which both the benefactor and the beneficiary are rewarded.

3.The Trusteeship Theory :

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According to this theory , the industrialist or employee holds the total industrial estate , properties and profit accruing from them in a trust. In other words , the employer should help the industrial estate for himself , for the benefit for his workers , and also for society.

4. The Placating Theory :

This theory based on timely and periodical acts of labour welfare can appease the workers. They are some kind of pacifiers which come with a friendly gesture.

5. The Public Relations Theory :

This theory provided the basis for an atmosphere of goodwill between labour and management, and also between management and public. Labour welfare programmes under this theory work as a sort of an advertisement and help an organization to project its good image.

6.

The Functional Theory : This is also called the Efficiency Theory . Here , welfare work is used

as a means to secure , preserve and develop the efficiency and productivity of labour . It is obvious that if an employer takes good care of his workers they will tend to become more efficient and will there by set up production. But all this depend upon healthy collaboration between union and management.

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7. The Philanthropic Theory :

This theory is based on mans love for mankind. This theory thus largely depends or mans love for others and therefore cannot be universal or continuous.

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 WHY TO PROVIDE WELFARE SERVICES :

Labour Welfare Schemes are provided for the mutual benefit of employer. They can be classified in three categories.

It is pertinent to note that Labour Welfare concept has a come along way since the beginning of industrial revolution. Today Human Resources is regarded as asset more important than land and machinery.

There are agreements against the provision of welfare services.

They imply dogging and personnel management fraternity has spent many years trying to shake off its association with what it , and others , likes to think of as at best peripheral and the worst redundant welfare activities.

Welfare services may be provided for the matters concerning employees which are not immediately connected with their jobs although they may be connected generally with their place of work.

These matters will include individual services relating to employees welfare such a private help with counseling on personnel problems , assistance with problems of health or sickness and special service for retired employee.

Group may include the provision of social and sporting activities and restaurant.

Child care facilities may be provided for individual employees but on collective basis.

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WELFARE SCHEMES PROVIDED BY BANK OF INDIA.

Key Processes in Employee Welfare

Transport Facility.

Department picnics.

Interest free festival advance.

Loans : House building / purchase Loan. Vehicle Loan. Amenity Loan.

Rehabilitation

Crche.

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Education.

Canteen Services.

Medical Benefits : Medical Assistance. Medical Advance. Post Retirement Medical Benefit.

Credit Co-operative Societies.

Community Development :

Blood Donation Camp.

Security and Insurance :

Provident Fund

Superannuation

Medical Benefit Schemes

Post Retirement Benefits

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Gratuity

Social Security Benefit.

Development :

300 days accumulation of PL ( 30 by law ).

Divisional Picnic Reimbursement.

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 MEDICAL ASSISTANCE SCHEME :

1. The employee who is away from duty for a period of more than 10 days on health grounds shall submit an application in a prescribed form along with relevant / supporting medical documents .The Medical Officer will investigate and examine certificates / other medical related documents. Based on the advice of Medical Officer , Assistance amount will be sanctioned by the committee.

2. The committee comprises of two representatives from management (Medical Officer and HR Officer) and three representatives from the union.

3. Financial assistance will be given only to chronic medical cases of long period which will also include cases of absenteeism on account of accidents during or outside employment, provided IOW Special leave for the said period is granted.

4. If an employee is fond to have made false claim , medical relief which have been granted , shall be recovered and proper disciplinary action will be taken against him for such act of misconduct and no further claims will be entertained.

5. The Medical Assistance claim shall not be accepted if an employee is suffering from AIDS commits suicide or attempts to suicide , sexually transmitted diseases, and self inflicted injury.

6. Time Office will certify the period of absence for which the employees has requested financial assistance.

7. The financial assistance shall also be paid to those employees who are genuinely sick and have availed PL and SL.

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8. If special leave has been sanctioned for which medical assistance is sought, it means that the employee has received full payment for the period of absence. Such cases will not be eligible for medical assistance.

9. The financial assistance for psychiatric cases will be given only once in employment tenure.

APPLICABILITY :

1. The scheme is applicable to all permanent employees who are covered under bargain able category.

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 EDUCATIONAL ASSISTANCE SCHEME :

1. Eligible employees are required to apply for the assistance in a prescribed form available in their respective Division / Block HR offices.

2. This assistance is given for maximum two children of the employees.

3. Employees children who have passed Sr KG to XI ( i.e. I st to XII th ) are eligible for reimbursement of the cost of the Text Books as per the rules.

4. Employees children who have secured I st and II nd rank in the above classes are eligible for cash award and reimbursement of tuition fees, if any , per the rules.

5. Employees children who have secured I st and II nd rank in the above classes are eligible for reimbursement of tuition fees, if any .

6. Employees should attach following documents along with application : a. Xerox copy of the progress card. b. Original school fee receipt for the standard passed , if any. c. Original cash receipt for the text books purchased for the standard promoted.

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7. Reimbursement will be made through salary to the concerned Employees.

SUPPERANNUTION SCHEME :

The union has communicated that the majority of the workmen opted for Company Superannuation Scheme are now desire to opt out of the said scheme. The management , therefore , agreed for giving one time option to the workmen either to join / continue to remain in the said scheme or to opt out from the said scheme as the case may be based , on certain conditions as set out in the minutes of the meeting. The said minutes shall form a part of this settlement for the purpose of interpretation and understanding of this clause. As requested by the Union the Company has also agreed not to consider indirect cost of the said scheme in this settlement while agreeing to the wage rise.

HELP IN CASE OF DEATH OF AN EMPLOYEE :

IN case of death , the family members are in big shock and are in need of help from all quarters

In such case company gives all necessary help , if needed given monetary assistance of

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 FESTIVAL ADVANCE :

1. Employees are eligible to get festival Advance once in financial year.

2. The employee shall submit their application in prescribed form to the Finance department.

MEDICAL BENEFITS SCHEMES:

Keeping in mind the objectives of employee welfare Bank Of India have introduced medical benefit schemes for employee and his family members.

It is totally run by the bank and not by the other insurance company. An insured employee and his family members are entitled to receive medical treatment and attendance at any Employee Safety Insurance (ESI) hospital / dispensary / clinic at Rs 200 per annum.

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 TYPES OF TREATMENT SCHEMES:

Domiciliary Treatment :

Every family member of the employee is covered up to the limit of Rs .2000 per annum.

Hospitalization :

In hospitalization treatment the amount of bill is totally covered by the banks. The amount is reimbursed up to 80% and rest 20% is deducted from the salary at the rate of Rs.250 per annum

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Research Methodology

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 RESEARCH DESIGN :

Research design is a logical and systematic planning directing a piece of research. It brings together the different phases of research study under the control of researcher. It helps the researcher to understand the whole picture before she embarks on the actual study. The ideal research portrays how the researcher would like to go about the study. A research design would act as guide and help the researcher to move towards the right direction. A research design should have the following features ,

1. Research heading should be precisely stated. 2. Data sources and data collection procedure. 3. Approaches to data analysis. 4. Resources constraints time , cost , manpower .

METHOD OF RESEARCH :

The method adopted to analyze the welfare schemes at Bank of India and study of awareness of welfare schemes among the employees is by survey conducted within the boundaries of the bank. The survey primarily focused on getting opinion of the employees regarding welfare schemes.

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RESEARCH TOOL :

PRIMARY DATA :

A structured questionnaire was prepared to study and analyze the knowledge of workers about the welfare schemes.

The questionnaire was used as an instrument in gathering the opinion of the employees. The questions were well defined and were in combination of closed ended as well as open ended questions.

The questionnaire is formed systematically to check the satisfaction level of the employees towards the welfare schemes provided by the company and to study the level of awareness of the employees towards the various welfare schemes. The survey primarily focused on getting the opinion of the employees regarding the welfare schemes.

SECONDARY DATA :

The secondary sources of data were the published documents of Bank of India. This includes HR Manual , Community Development Manual. All the welfare schemes provided by Bank were briefed in these manuals. Also some books referred to collect the secondary data.

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RESEARCH DURATION :

The research was conducted over a period of 2 months.

RESEARCH AREA :

The research was conducted at Bank of India. It was an internal survey i.e. it was restricted to the boundaries of the bank.

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Data Analysis

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ANALYSIS OF DATA COLLECTED FROM 156 WORKERS

Que

Very Good

Good

Satisfactory

Non Satisfactory

Non using/ Not aware

1 2 3 4 5 6 7 8a 8b 8c 8d 8e 9

64 44 48 35 29 23 53 60 46 59 86 44 19

59 78 58 56 66 65 58 64 64 64 53 45 62

6 19 28 31 36 39 33 28 33 31 12 40 25

6 17 16 19 13 17 14 6 15 4 7 29 5

3 8 17 14 14 -

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ANALYSIS OF DATA COLLECTED FROM 106 WORKERS

Que

Very Good

Good

Satisfactory

Non Satisfactory

Non using/ Not aware

1 2 3a 3b 4 5 6 7 8 9

61 36 47 47 21 25 28 17 19 10

34 43 34 30 47 48 46 32 35 14

5 24 9 21 26 15 29 15 41 43

4 3 16 8 12 18 3 3 11 39

2 5 -

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ANALYSIS OF DATA COLLECTED FROM 83 TOPMANAGEMENT EMPLOYEES

Que

Very Good

Good

Satisfactory

Non Satisfactory

Non using/ Not aware

1 2 3 4 5 6 7 8

21 23 34 21 24 22 15 4

48 32 23 47 36 25 40 20

8 4 22 27 13 20 16 7

6 4 4 11 10 5 7 5

20 5 47

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Graphical Representation

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TOP MANAGEMENT

Loan Facility
58 60 No Of Employees 50 40 30 20 10 0 Very Good Good Satisfactory Non Satisfactory Not using/Aware 25 24 48 48 36 28 15 13 16 18 Workers 10 8 Supervisors TM

Satisfaction Level of Employees

From the above graph we conclude that, All the level of employees feel the need for some improvement in loan facility.

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Medical Facility
60 50 No of Employees 40 30 20 10 0 Very Good Good Satisfactory Non Not Satisfactory using/Aware 28 23 14 3 4 34 58 53 46 33 29

32 Workers Supervisors TM

Satisfaction Level of Employees

From the above graph we can see that, According to top management employees medical facility is excellent but workers and supervisors feel the need for some improvement.

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Que : According to you how is the Conveyance allowance provided by the bank?

Very Good 22 /

/ Good 35 /

/ Satisfactory 20 /

/ Non satisfactory 6 / o

/ Not using ( Aware)

Conveyance Allowance
40 35 No of Employees 30 22 20 10 0 Very Good Good Satisfactory Non Satifactory Not Using/Aware 6 20

Satisfaction level of Employees

Interpretation : From the above graph we can see that, According to 22 top management employees , the Conveyance Allowance is very good , 35 Top Management employees find it Good, 20 and 6 Top management Employees find this facility as satisfactory and non satisfactory respectively. So we can conclude that there is some scope of improvement.

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Que: According to you how is the Loan facility provided by the bank? Very Good 24 / / Good / Satisfactory 36 / 13 / / Non satisfactory 6 / 0 / Not using ( Aware)

Loan Facility
40 No of Employees 30 20 10 0 Very Good Good Satisfactory Non Satifactory Not Using/Aware 24 13 6 36

Satisfaction level of Employees

Interpretation : From the above graph we can see that, According to 24 top management employees , the Loan Facility is very good , 36 Top Management employees find it Good, 13 and 6 Top management Employees find this facility as satisfactory and non satisfactory respectively. So we can conclude that there is some scope of improvement.

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Que: According to you how is the Retirement Benefits provided by the bank? Very Good 21 / / Good / Satisfactory / Non satisfactory 46 / 15 / 11 / 0 / Not using ( Aware)

Retirement Benifits
50 No of Employees 40 30 20 10 0 Very Good Good Satisfactory Non Satifactory Not Using/Aware 21 15 11 46

Satisfaction level of Employees

Interpretation : From the above graph we can see that, According to 21 top management employees , the Loan Facility is very good , 46 Top Management employees find it Good, 15 and 11 Top management Employees find this facility as satisfactory and non satisfactory respectively. So we can conclude that there is some scope of improvement.

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Que: According to you how is the Medical facility provided by the bank? Very Good 34 / / Good 23 / / Satisfactory / Non satisfactory 22 / 4 / 0 / Not using ( Aware)

Medical Facility
40 No of Employees 30 20 10 0 Very Good Good Satisfactory Non Satifactory Not Using/Aware 4 34 23

22

Satisfaction level of Employees

Interpretation : From the above graph we can see that, According to 34 top management employees , the Loan Facility is very good , 23 Top Management employees find it Good, 22 and 4 Top management Employees find this facility as satisfactory and non satisfactory respectively. So we can conclude that there is some scope of improvement

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SUPERVISORS

Que: What do you think about the functioning of the Community Development Center?

Very Good / Good / Satisfactory / Non Satisfactory / Not Using/Aware 10 / 14 / 43 / 39 / -

Functioning of Community Development Centre

45 40 35 30 25 20 15 10 5 0 43 39

No of Employees

14 10

Very Good

Good

Satisfactory

Non Satifactory

Not Using/Aware

Satisfaction level of Employees

INTERPRETATION: From the above graph we can see that, According to 43 supervisors , the functioning of the Community Development Center is satisfactory and According to 39 supervisors it is Non Satisfactory. So we can conclude that there is large scope of improvement.

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Que: According to you how is the Medical facility provided by the bank? Very Good / Good / Satisfactory / Non satisfactory 28 / 46 / 29 / 3 / 0 / Not using ( Aware)

Medical Facility
50 No of Employees 40 30 20 10 0 Very Good Good Satisfactory Non Satifactory Not Using/Aware 3 28 29 46

Satisfaction level of Employees

INTERPRETATION: From the above graph we can see that, According to 28 supervisors , the Medical Facility is very good , 46 supervisors find it Good , 29 and 3 supervisors find this facility as Satisfactory and Non Satisfactory respectively. supervisors are not aware of this scheme. So we can conclude that there is some scope of improvement in Medical Benefit Scheme.

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Que: According to you how is the Loan facility provided by the bank? Very Good 25 / / Good 48 / / Satisfactory / Non satisfactory 15 / 18 / / Not using ( Aware)

Loan Facility
50 No of Employees 40 30 20 10 0 Very Good Good Satisfactory Non Satifactory Not Using/Aware 25 18 15 48

Satisfaction level of Employees

INTERPRETATION: From the above graph we can see that, According to 25 supervisors , the Loan Facility is very good , 48 supervisors find it Good , 15and 18 supervisors find this facility as Satisfactory and Non Satisfactory respectively. supervisors are not aware of this scheme. So we can conclude that there is some scope of improvement in Loan Facility.

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Que: According to you how is the Retirement Benefit facility provided by the bank? Very Good / Good 23 / 47 / / Satisfactory / Non satisfactory / Not using ( Aware) 26 / 12 / 0

Retirement Benifit Facility

50 No of Employees 40 30 20 10 0 Very Good Good Satisfactory Non Satifactory Not Using/Aware 26 21 12 47

Satisfaction level of Employees

INTERPRETATION: From the above graph we can see that, According to 21 supervisors , the Retirement Benefit Facility is very good , 47 supervisors find it Good , 26 and 15 supervisors find this facility as Satisfactory and Non Satisfactory respectively. supervisors are not aware of this scheme. So we can conclude that there is scope of improvement in Retirement Benefit plan and awareness of it.

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Que: Are you satisfied by the following statutory welfare facilities provided by the bank? Safety Measures : Very Good Aware) 47 / 34 / 9 / 16 / 0 / Good / Satisfactory / Non satisfactory / Not using (

First Aid Appliances : Very Good / Good (Aware) 47 / 30 /

/ Satisfactory / Non satisfactory / Not using

21

Saturity Welfare Facility

50 NO of Employeees 40 30 20 10 0 Very Good Good Satisfactory Non Satisfactory Not Using/Aware 9 47 47 34 30 21 16 8 Safety Measures first Aid Aplications

Satisfaction Level of Employees

INTERPRETATION: From the above graph we can see that, Maximum numbers of supervisors find that statutory welfare facility provided by the bank is very good.

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Que : How is the food provided by the canteen? Very Good / Good / Satisfactory / Non Satisfactory / Not Using/Aware 36 / 43 / 24 / 3 / -

CanteenFacility

45 40 35 30 25 20 15 10 5 0

43 36 24

NO of Employeees

Very Good

Good

Satisfactory

Non Satisfactory

Not Using/Aware

Satisfaction Level of Employees

INTERPRETATION: From the above graph we can see that, According to 36 supervisors , the Canteen Facility is very good , 43 supervisors find it Good , 24 and 3 supervisors find this facility as Satisfactory and Non Satisfactory respectively. supervisors are not aware of this scheme. So we can conclude that there is some scope of improvement in Canteen Facility.

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WORKERS

Que : Are you satisfied by the following statutory welfare facilities provided by the bank? Safety Measures : Very Good / Good / Satisfactory / Non satisfactory / Not using ( Aware) 60 / 64 / 28 / 6 / 60

Cleanliness : Very Good / Good / Satisfactory / Non satisfactory / Not using ( Aware) 59 / 64 / 31 / 4 / 46

Drinking Water : Very Good / Good / Satisfactory / Non satisfactory / Not using ( Aware) 86 / 53 / 12 / 7 / 86

Satutory Welfare Facility

90 80 NO of Employeees 70 60 50 40 30 20 10 0 Safety Measures Uniforms Cleanliness Drinking Water First aid aplication 28 6 60 64 46 33 15 4 31 12 64 59 64 53 44 45 40 29 7 Very Good Satisfactory Non Satisfactory Not Using/Aware 86

Satisfaction Level of Employees

Maximum workers find that statutory welfare facility provided by the bank is good but feel the need for some improvement.

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Que: According to you how is the Medical facility provided by the bank? Very Good / Good 53 / 58 / / Satisfactory / Non satisfactory / Not using ( Aware) 33 / 14 / 0

Medical Facility
60 53 NO of Employeees 50 40 30 20 10 0 Very Good Good Satisfactory Non Satisfactory Not Using/Aware 14 33 58

Satisfaction Level of Employees

INTERPRETATION: From the above graph we can see that, According to 53 workers , the medical Facility is very good , 58 workers find it Good , 33 and 14 workers find this facility as Satisfactory and Non Satisfactory respectively workers are not aware of this scheme. So we can conclude that there is some scope of improvement in Medical Facility.

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Que: According to you how is the Retirement Benefit facility provided by the bank? Very Good / Good / Satisfactory 23 / 47 / 26 / / Non satisfactory / Not using ( Aware) 12 / 0

Retirement Benifit Facility

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60 50 NO of Employeees 40 30 35

31 19

17

20 10 0 Very Good Good Satisfactory Non Satisfactory Not Using/Aware

Satisfaction Level of Employees

INTERPRETATION: From the above graph we can see that, According to 35 workers , the Retirement Benefit plan is very good , 56 workers find it Good , 28 and 16 workers find this facility as Satisfactory and Non Satisfactory respectively workers are not aware of this scheme. So we can conclude that there is some scope of improvement in Retirement Benefit plan.

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Que: According to you how is the Loan facility provided by the bank? Very Good / Good 48 / 58 / / Satisfactory / Non satisfactory 28 / 16 / 8 / Not using ( Aware)

Loan Facility
58 60 50 NO of Employeees 40 30 20 10 0 Very Good Good Satisfactory Non Satisfactory Not Using/Aware 16 8 48 28

Satisfaction Level of Employees

INTERPRETATION: From the above graph we can see that, According to 48 workers, the Loan Facility is very good , 58 workers find it Good , 28 and 16 workers find this facility as Satisfactory and Non Satisfactory respectively. 8 workers are not aware of Loan Facility. Maximum number of workers find that facility is good but feel the need for some improvement in loan facility.

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Findings

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 The safety measures provided by the bank are found to be very good.

The working of the SDT is applicable and also very helpful to the employees.

The interest rate while repaying the loan amount is high.

Post retirement medical facilities provided are not satisfactory.

The crche facility provided by the company is very good.

The company makes all its efforts to execute all statutory welfare facilities as well as it provides several non statutory welfare facilities to the employees.

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Limitations

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 Time constraint : As the project duration was just for 2 months ,its too short to collect all the information to fulfill my project , which narrows down the scope of the project.

Less sample size :

The respondents were ( usually managers ) busy in their work.

Reluctance on the part of workers :

In this study questionnaire was used as a research instrument. It has a limitation that many workers were reluctant to be personal interviewed and to give company information.

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Conclusion

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After the project work at Bank Of India I would like to conclude that:

Statutory Welfare Facilities provided by the bank are excellent ; most of the employees are satisfied with those facilities . ( Canteen , Crche etc. )

Non statutory welfare facilities provided by the bank are satisfactory ; there is scope for improvement. ( Loan facility , Post retirement benefits, Medical facility etc .)

Welfare schemes provided by the bank are beneficial to employees and even to their family.

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Suggestions

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 Employees should be given detailed information about all the welfare schemes carried out by the bank.

Loan facility should be given on minimum interest by the bank.

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Bibliography

Arun Monappa Industrial Relation 2002

Michael Armstrong Handbook of Human Resource Management & Practices. ( 8th edition )

A.M.Sharma Aspects of labour Welfare and Social Security. ( 6th edition .)

V.S.P.Rao Human Resource Management ( 2nd edition )

WEBSITE :

www.bankofindia.com www.scdl.net Google

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Abbreviations

MPD Manpower Planning Department.

SDT- Self Directed Tax.

TRG Training.

HR Human Resource.

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Annexure

QUESTIONNAIRE FOR WORKERS :

1. How is the food provided by the canteen? Very Good / Good / Satisfactory / Non Satisfactory

2. According to you how is the loan facility provided by the bank? Very Good / Good / Satisfactory / Non Satisfactory

3. How is the retirement benefit facility provided by the bank? Very Good / Good / Satisfactory / Non Satisfactory

4. What do you think about the functioning of the Self Directed Teams (SDT)? Very Good / Good / Satisfactory / Non Satisfactory

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5. Are you satisfied by the following statutory welfare facilities provided by the bank? Safety Measures - Very Good / Good / Satisfactory / Non Satisfactory

Cleanliness - Very Good / Good / Satisfactory / Non Satisfactory

Drinking Water - Very Good / Good / Satisfactory / Non Satisfactory

6. How is the medical facilities provided by the bank? Very Good / Good / Satisfactory / Non Satisfactory

7. How is the Parivar Suraksha Yojana provided by the bank? Very Good / Good / Satisfactory / Non Satisfactory

8. In your opinion what improvements would you suggest to increase the welfare facilities?

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