EMPLOYEE WELFARE MEASURES Introduction: The basic objective of the staff welfare scheme management is to uplift the physical,

mental and economic conditions of its employees in order to get the best out of them in addition to fulfilling the social responsibility cast upon the organization. It is a fact that the Industrial progress of the country depends on its committed labour. In order to get the best out of a worker in the matter of reduction working conditions require to be improved to a greater extent to achieve the objective of maximization of utilization resources the workers should at least have the means and facilities to keep himself in a state of health and efficiency. The work place should provide reasonable amenities for the essential needs and worker should also be equipped with the necessary technical training and a certain level of education. abour welfare is broad term covering social security and such other activities as medical aid, creche, canteens, recreation, and housing, adult education arrangements for the transport of labour to and from the place of workplace.

CONCEPT: The subject matter related to !mployees welfare and related terms have been explained. The term labour welfare is flexible and elastic and differs widely with time, regions, industry, country, social values and customs, degree of industrialization, the general socioeconomic development of the people. It is also moulded according to the age, group, sex, socio"cultural #

background marital status and economic status and educational level of the workers in industry. $elfare measures are a three dimensional concept like total, social and relative. The %total concept % of welfare is the achievement of a desirable state of existence involving physical, mental and moral and emotional. The %social concept% of welfare involves the well being of an individual and harmonious relationship he establishes with his primary group"his family, his working group " his colleagues, superiors and subordinates. The %relative concept% of welfare involves relative to time, place and person. Need for Labour we fare: The need for the labour welfare measures arises because of the nature of the industrial system, which is characterized by two basic factors& The conditions under which work is carried on are not congenial for health. $hen a labour joins an industry, he has to work in an entirely strange environment, which create problems of adjustment. 'ccording to labour investigation committee %The provision of canteens% improves the physique. %!ntertainments% reduce the incidence of serious accidents %(edical aid ) (aternity and child welfare% services improve the health of the workers and bring down the rates of general, maternal and infantile mortality. %!ducational facilities increase their mental efficiency and economic productivity%.

CONSTITUTIONAL PRO!ISIONS: Artic e "#: %The state shall, within the limits of its economic capacity and

development, make effective provision for securing the right to work, to education and to public assistance in case of unemployment and in other case of underserved want%. Artic e "$: %The state shall make provision for securing just and humane conditions of work and for maternity relief% Artic e "%: %The state shall endeavour to secure by suitable legislation or economic organization or in any other way to all workers, agricultural, industrial or otherwise work conditions of work ensuring a decent standard of life and cultural opportunities and in particular, the state shall endeavour to promoter cottage industries or co"operate basis in rural areas.

Ob&ecti'e( of abour we fare )ea(ure( are: a* ECONOMIC: To increase their efficiency and effectiveness so that they can perform better in different work situations+ keep them contended and reduce the chances of conflict. b* +UMANISTIC: To treat them as normal human beings by providing basic facilities

and amenities. c* CI!IC: To develop a sense of responsibility dignity of labour and participatory

culture among them. Princi, e( of ade-uac. of we fare: Princi, e of ade-uac. of we fare: / abour has a right to adequate wages. ,ut high wages alone cannot create healthy work environment. ' combination of both " wages and welfare measures would improve workers satisfaction, morale and motivation.

Princi, e of t0e (ocia re(,on(ibi it. of indu(tr.: / Industry has an obligation or duty towards its employees to look after their welfare. abour welfare is highlighted as a state policy in the directive principles of Indian constitution. Princi, e of Efficienc.: !mployees accept the responsibility for implementing such labour welfare measures which they consider will increase their efficiency. Princi, e of re/,er(ona i1ation: / This principle emphasizes the development of human personality as the aim of welfare measure. .ecessary to implement Intra mural and extra mural welfare services are implemented. Princi, e( of tota it. of we fare: / In this the necessity of labour welfare must be felt and convinced by all levels of management. This requires reduction, retraining and re"orientation of managers at all levels. Princi, e( of inte2ration and co/ordination: / The co"ordination approach is essential through out the organization so that fall benefit is derived out of welfare measures. This is through systems approach where organization consists of subsystems integrated together as one whole system. Princi, e( of ,artici,ation: / It highlights the democratic principles of mutual consultation example+ committees for canteens, sports etc. Princi, e( of re(,on(ibi it.: ,oth employees and employee are responsibility for labour welfare. Trade union leaders as the workers representatives must play a positive role they must co"operate with management to provide essential welfare measures without hampering the economic viability of the establishment. !xamples are union participation in committees like canteen committee of /

welfare measures. 0uitable (I0 can be installed success or this process can periodically evaluate failure, accountability of failure can be fixed. Princi, e( of ti)e ine((: / $elfare measures must be provided in time and when needed most+ untimely assistance is not only wasteful but antagonizes the workers. This requires proper planning and control. The other objectives of labour welfare& To give expression to philanthropic and paternalistic feeling To win over employees loyalty and increase their moral. To combat trade unionism and socialistic ideas To buildup stable labour force, to reduce labour turnover and absenteeism To save oneself from heavy taxes on surplus profits To earn goodwill and enhances public image To make recruitment more effective

3EFINITION:

The term employee welfare, labour welfare or workers are related terms. !mployee welfare is defined as %The voluntary efforts of the employees to establish with in existing industrial system and sometimes living and cultural of the employee beyond that which is required by low, the custom of the industry and the conditions of the market. The labour investigation committee has defined employee welfare as %anything done for intellectual, physical, moral and economic betterment of the workers whether by employees by government or by other agencies over and above what is laid down by law or what is normally expected on the part of the contractual benefit for which workers may have bargained. Internationa Labour Or2ani1ation 4ILO* report refers to labour welfare as& 0uch services, facilities and amenities as may be established in or in the vicinity of understandings to enable the performs employed in them to perform their work in healthy, congenial surroundings and provided with amenities conducive to good health and high morale%. Feature 5 c0aracteri(tic( of abour we fare: / It is the work, which is usually undertaken within the premises or in the vicinity of the undertaking for the benefit of the employee and the members of his family. The work generally includes those items of welfare, which are over and above. $hat is provided by satisfactory provisions or required by the custom of the industry or what the employee expects as a result of a contract of service from the employees. The purpose of providing welfare animates is to bring out the development of the whole personality of the worker .his social, psychological, economic, moral, cultural and intellectual development to make him a good worker, a good citizen and a good member of the family. These facilities may be provided voluntarily by progressive and enlightened entrepreneurs of their own accord out of their realization of social responsibility to labour or statutory provisions may complete them to make these facilities available or there may be there may be the government or trade unions may undertake them if they have the necessary funds for the purpose. 2

abour welfare is a very broad term covering social security activities as medical aid, creches, canteens, recreation, housing, adult education, arrangements for the transport of labour to and from the work place.

It may be noted that not only intra"moral but also extra"moral, statutory as well as non statutory activities undertaken by any of the three agencies" for the physical and mental development of a worker. The 3ommittee of experts on welfare facilities for industrial workers I 4 includes the following items under labour welfare. convened by

We fare and A)enitie( wit0 t0e ,recinct( of t0e e(tab i(0)ent:/ #. atrines and urinals *. $ashing and bathing facilities -. 3reches /. 5est shelters and canteens 1. 'rrangements for drinking water 2. 6ealth services including occupational safety 7. 'rrangement for prevention of fatigue. 8. 'dministrative arrangements for the welfare of employee 9. :niform and protective clothing #;. 0hift allowance We fare out(ide t0e e(tab i(0)ent: / #. (aternity benefit *. 0ocial insurance measures <including gratuity, pension, provident fund and rehabilitation= -. ,enevolent funds /. (edical facilities <including programes for the physical fitness and efficiency family planning and child welfare= 1. !ducation facilities 2. 6ousing facilities 7. 5ecreation facilities <including sports, cultural activities, library, reading rooms= 7

8. 6oliday homes and leave travel facilities 9. $orkers co"operative including consumers co"operative stores fair price shops and co" operative credit and thrift societies. #;. >ocational training for dependent of workers ##. 4ther programme for the welfare of women, youth and children #*. Transport to and from the place of work.

C a((ification: / The classification of labour welfare is based on dividing industrial welfare into - categories, which are as follows& 0tatutory .on statutory ? voluntary (utual

Statutor.: / 0tatutory facilities to those provisions, which redressed from the concessive power of government. The government exacts legislations regarding working and laying conditions, minimum wages, safety and security such statutory provisions are gradually increasing along with industrial development. !o untar.: / ' voluntary facility refers to those activities, which are undertaken by employees for their workers. They primarily oriented to democratic value system. 0uch welfare activities can increase the efficiency of workers and reduce the chance of conflict between the employees and employee. Mutua : / ' mutual facility refers to those activities, which are initiated by workers for their betterment in suitable manner. @or instance unions undertake certain welfare activities for social and 8

economic betterment of their members. Statutor. ,ro'i(ion( 'ariou( act(: / There are the amenities that are to be necessarily provided to the employees under different legislations. The important legislations, which call for these provisions, are. #= The @actories 'ct, #9/8 *= The Alantation 'ct, #91# -= The (ines 'ct, #91* /= The (otor Transport 'ct, #92# 1= The 3ontract abour 5egulation and 'bortionB 'ct, #97; T0e Factorie( Act6 #7"8: / This 'ct is applicable to premises including precincts where #; or more workers are employed with aid of power or where *; or more workers are employed without power. $elfare amenities provided are washing storing, sitting, first aid facilities, canteens, shelters, creche, welfare officers and other facilities. T0e , antation Act #79$: / The 'ct has provisions for creating canteens, recreation facilities, medical act, housing facilities, protection amenities to workers like umbrellas, blankets, raincoats etc. T0e Miner( Act #79$: / This act has provisions for creating shelters, canteens, first aid boxes, pithead bath, lavatories, lockers, welfare offices etc. T0e Motor Tran(,ort Wor:er( Act6 #7;#: / The motor transport undertakings are required to make the following provisions as canteens, clean ) well very ventilated rest rooms, uniforms, rain coats, washing allowances, medical facility etc. T0e Contract Labour 4Re2i(tration < Abo ition* act #7=>: / 9

The contractor has to provide the following welfare ) health measures such as canteens, washing facilities ) first aid facilities, rest room etc. Labour we fare officer(: / The labour officers act as the middlemen between the management ) the workers. The post of labour welfare officer instituted mainly to !liminate the evils ) malpractices of the jobber system in the recruitment of the labour. To develop ) improve labour administration. To serve as a liasion with the state commissioner.

Function( of abour we fare officer: / 0upervision 3ounseling workers 'dvising management in some matters !stablishing liasion with workers !stablishing liasion with management $orking to maintain harmonious industrial relations in the organization To improve productivity ) produce effectively of the organization

(any activities are there in labour welfare system but few major areas are selected for the study as follows& #= !ducational facilities -= 3anteen facilities 1= oan facilities INTRO3UTION: 3entral ,ank of India was established in #9##. It was the first Indian commercial bank, which was wholly owned and managed by the Indians. The established of the bank was the ultimate realization of the dream of 0ri 0orabji Aochkhanwala, who was the fonder of the bank. 0ri sorabji #; *= (edical facilities /= Tran(,ort faci itie(

pochkhanwala proclaimed 3entral ,ank as the property of the .ation and the countryCs asset and it lives on peopleCs faith. The ,ank regards itself as the peopleCs own bank. 3entral ,ank of India was nationalized in the year #929.!ven after nationalization it continued to introduce a number of innovative schemes in service of its customers. During the past 9-years of its extensive the bank has weathered many storms and faced many challenges. The bank could successfully transform every threat in to business opportunity and excelled over its peers in banking industry. MOTTO: The (otto of the ,ank is ?@UIL3 A @ETTER LIFE AROUN3 USA CORPORATE !ISION: To emerge as strong, vibrant and proactive ,ank?@inancial super market and to positively contribute the emerging needs of the economy through consistent harmonization of human, financial and technological resources and effective risk control system. MILESTONES AC+IE!E3 @Y T+E @ANB: #7$#: Introduction to the E6ome 0avings 0afe Deposit 0chemeF to build 0aving?thrift habits in all sections of the society. #7$%: Taking over of the management of the union ,ank of India imited, and the amalgamation of the Tata industrial bank with 3entral ,ank. #7$": 'n !xclusive adies Department to cater to the bank $omen 3lientele. #7$;: 0afe deposit locker facility and 5upee Travelers 3herub facility. #7$7: 0etting up of the !xecutor and trustee Department. #7%$: Deposit Insurance ,enefit 0cheme. ##

#7;$: 5ecurring Deposit 0cheme. #7=;: The (erchant ,anking cell was established #78>: 3entral ,ank 4f India is the first bank to introduce the 3redit 3ard facility, at 6yderabad. 3entral 3ard, IndiaCs first domestic credit card is affiliated to E(aster 3ardF and E>isaF. #78;: Alatinum Gubilee (oney ,ack Deposit 0cheme $as aunched. #787: The 6ousing 0ubsidiary cent ,ank 6ome @inance td. $as started with its head quarters at ,hopal in (adhya Aradesh. #77": Huick cheque collection service <H33= ) !xpress 0ervice was set up to enable speedy collection of outstation cheques. $>>#: 3/3 3ampaign I 3entralities for customers, which is an integrated customer relationship programs. @RANC+ES AN3 EMPLOYEES STRENCT+: 3entral ,ank of India has a large network in *7 0tates and / :nion Territories. Its network consists of -#/2 branches and *71 extension centers as on (arch *;;1. The number of branches in backward states is #7/-. The number of computerized branches is 9;-.when the bank was started in #9## it had a staff of -; members. Today there are more than -8,1;; employees of all categories. 't present 3entral ,ank of India has 77 regional offices and there are #7 Jones of 3entral ,ank 4f India. That is 'gra, 'hmedabad, ,hopal 3entral 4ffice, 3handigarh, 3hennai, Delhi, Kowhati, 6yderabad, Lolkata, ucknow, (umbai (etropolitan, (uzaffapur, .agpur, Aatna, Aune and 5aipur. Leeping in view the guidelines given by the Indian ,anks 'ssociation, the bank has formulated a voluntary retirement 0cheme <>50=. The total number of employees who have opted for >50 is 78;; approximately in *;;#. Detailed performance indicators of the ,ank for *;;/";1 are given in page *;. 3EPOSIT SC+EMES: 3entral ,ank of India has formulated a host of tailor made schemes to meet the diverse requirements of its varied clientele. There are as follows& "

#*

#. (oney (ultiplier Deposit 3ertificate. <((D3=. *. Lhazana Deposit 0cheme. -. (onthly interest Deposit 5eceipt. <(ID5= /. Huarterly interest Deposit 5eceipt. <HID5= 1. 5ecurring Deposit 0cheme. 2. 3entralCs >riddhi Deposit 0cheme. 7. Term Deposit 0cheme. 8. 3ash 3ertificate 0cheme. 9. Lisan Lrishi Dhan Deposit 0cheme. #;. 6ome oan 'ccount 0cheme. CRE3IT SC+EMES& 't central ,ank various loan facilities are available. They are& #. *. -. /. 1. 2. 7. 8. 9. #;. ##. #*. 3ent ,uy Direct 6ousing @inance 3ent Lalyani. 3ent >idyardhi. 3ent >yapari 0cheme. Aersonal oan 0cheme. 3ent (ortgage. 3ent Trade. 3ent 5entals. 3ent 3omputer. 3ent iquid. 3ent 0chool.

The bank has laid special emphasis on industrialization and agriculture has been, and will long continue to be the backbone of countryCs economy realizing this, 3entral ,ank of India has always given high priority to financing the production and marketing of the agricultural commodities. The banks contribution to the financing of the organized industrial sectors comprising textiles, sugar, vanaspati, cement, iron and steel, engineering and jute has been no less substantial, Tea plantations have also received a large measure of support from the bank. #-

OT+ER SER!ICES: #. 3entral card. *. TravelerCs cheques. -. Kift cheques. /. 3entralCs 0tock Invest. 1. 3entralCs Huick 3heque collection 0ervice. <H33=?3(0 2. 3ent"!xpress 0ervice. In addition to above, the bank has some more schemes like/ #= CENT BALYANI scheme for financing women entrepreneurs& under this scheme

woman entrepreneurs are provided credit facilities for industrial economic activities agricultural and allied activities and business activities. $omen entrepreneurs are welcomed to avail credit facilities for i= ii= iii= iv= v= vi= 0mall ,usiness. Arofessional and 0elf"!mployment. 5etail Trade. >illage and 3ottage?Tiny Industry 0mall 0cale Industries. 'griculture and 'llied 'ctivities.

vii= Kovernment 0ponsored programs $* SWARNA DAYANTI UR@AN EMPLOYMENT SC+EME: This has two features& a= :rban 0elf"!mployment Arogramme b= :rban $ages !mployment Arogramme This 0cheme is intended to provide profitable employment for unemployed or under employed urban villagers. :nder this scheme wages oriented scheme has been started in all major cities from #st December #997. INTERNATIONAL @ANBINC SC+EMES:

#/

The bank has extensive agency arrangements with leading banks throughout the world. There has always been the most relationship with foreign correspondent banks. REPATRIA@LE SC+EMES: #E Non/Re(ident 4EFterna * Account( 4NRE* in Indian Ru,ee(: / under this scheme you may open your deposit 'ccount with a savings account?Term Deposit 'ccounts? 5e" Investment Deposit 0cheme? Goint 'ccount ? .omination facilities ? 5upee funds. $E Forei2n Currenc. Non/Re(ident 4FCNR* Account(: / It can be held only as @ixed Deposits and can be opened either in Aound 0terling, :.0.Dollar, Deutsche (ark or Gapanese Men. %E Re(ident Forei2n Currenc. Account( 4RFC*: This account can be opened by those who had returned to India permanently after a continuous stay abroad for a minimum period of one year. NON/REPATRIA@LE SC+EMES: #. Non/ re(ident 4ordinar.* Account( 4NRO*: / .54 'ccount can be opened in savings ? Term Deposits ? 3urrent 'ccount in Indian 5upees remitted from abroad. *. Non G Re(ident 4S,ecia * Ru,ee 4NRSR* account (c0e)e & I .505 accounts can be opened in savings ? Term Deposit ? 3urrent accounts in Indian 5upees. .omination facility is also available %E NonGRe(ident 4Non/Re,artriab e* Ru,ee 3e,o(it (c0e)e 4NR NR R3S*: " 'll .on I 5esident, Indians and foreigners <!xcept Aakistani ) ,angladeshi to open this accounts and benefit from the high interest rates. This account will be maintained in Indian 5upees out of funds remitted from abroad.

PERFORMANCE +IC+LIC+TS OF T+E YEAR $>>"G$>>9 4R( in crore(*

#1

Perfor)ance Para)eter #. *. 4peration Arofit .et Arofit Total Deposits Kross 'dvances Total ,usiness .et Investment Ariority 0ector 3redit 'griculture 3redit Kross .A' Kross .A' <N= .et 'dvances .et .A' .et .A' <N= Total Arovision for .A' .A' 3overage 35'5 3D 5atio 3ost 4f Deposits N Mield on 'dvances N Mield on investments N Interest 0pread Income ",usiness 4perations "Investments "Trading profit <investments= 'verage .o of !mployees ,usiness Aer employee #;.

%#E>%E$>>9 #2;9 -17 2;71* *9;81 898-7 -;8-1 #**#2 1#-7 *2*# 9.;# *7*77 8#/ *.98 #79/ 28./1 #*.#1 //.9; /.79 8.8# 8.2* -.1/ 2#*1 *88* *27/ 129 -81/# *;2.89

%#E>%E$>>" #1*9 2#8 119;9 *//72 8;-81 -#/;1 99*1 -*7# *9/#*.;* **8;/ #*7# 1.17 #219 1-.21 #*.//;.79 1./8 9.28 9./8 -.18 2;*8 *779 *217 19* -9#1#8#.1# #.18 ##*/ #81; *97/ 2--/1

-. /.

1. 2. 7.

8.

9.

Arofit per employee .93apital ##*/ 5eserves *#/# .et 4wned @unds -*21 Total 'ssets 28192 EMPLOYEE WELFARE MEASURES IN CENTRAL @ANB OF IN3IA

!mployee means any workman, male?female, employed in the company? companyCs premises or companyCs branches whose names is entered in the rolls of the company ) who is a

#2

workman as defined under section *<s= of the industrial Disputes 'ct #9/7, but does not include for the purpose of these rules contractors?contractorCs workmen. !mployee $elfare is defined as E The voluntary efforts of the employees to establish with in the existing industrial system, and some times living ) cultural conditions of the employees beyond that which is required by law, the custom of the industry ) the conditions of the marketF. The chief characteristic of central bank of India is to provide adequate welfare ) motivation to employees to make them feel a sense of involvement, commitment ) loyalty towards it. It is an accepted fact that an employee whose primary ) social needs are squarely met by the organizations will work with more zeal and enthusiasm towards achieving the organizational goals. The concept of providing welfare and motivation to staff members matching with the growing aspiration of staff has remained as one of the corporate objectives of central bank. E), o.ee We fare Mea(ure(: Rei)bur(e)ent of co e2e fee( for c0i dren of t0e (taff )e)ber(E The objective of the scheme is to provide a limited amount of financial incentive and support to staff members and to encourage them to allow their talented children to go in for college education. The scheme covers reimbursement of college fees of two dependent children of staff members <including permanent part time sub"staff drawing scale wages of #?-rd and above=. @or the purpose of reimbursement under this scheme the family is taken as one unit. Re ief to fa)i . e), o.ee( w0o die in 0arne((E The object of the scheme is to provide immediate financial relief to the family of any employee who dies in harness. The scheme also aims at bridging partly the time gap between the death of the employee and receipt of provident fund and gratuity dues by his or her family and partly the need gap by supplementing family income. #7

 Rei)bur(e)ent of additiona Medica eF,en(e( to e), o.ee(5de,end( (ufferin2 fro) i ne(( eadin2 to +o(,ita i1ation and 5or do)ici iar. treat)entE The objective of this scheme is to provide reimbursement of medical expenses to certain extent to employees?dependent, family members either home or hospital over and above the amount sanctioned under the hospitalization scheme of ,ipartite ? 405. +o(,ita i1ation (c0e)e for Per)anent Part/Ti)e Safai Bar)ac0ari( 4PTSB*: The objective of this scheme is to provide financial assistance in the form of reimbursement of 6ospitalization expenses incurred by Aermanent Aart"Time 0afai Larmacharis <AT0L=. Rei)bur(e)ent of eF,en(e( for 0ea t0 c0ec:/u, for e), o.ee or 0i(50er (,ou(e5de,endent ,arent( w0o are abo'e "> .ear( of a2eE The objective of this scheme is to enable them to take preventive steps at the right time so that the staff and the bank may avoid incurring huge hospitalization expenses at a later date besides endangering their lives. Medica a((i(tance (c0e)e to retired e), o.ee( 5eimbursement of (edical aid to retired employees

The objective of this scheme is aimed at strengthening the continued bondage between the bank and the employees even after their retirement especially in wake of introduction of pension scheme in the bank. This would enable the bank to get the assistance of such retired staff for bank building activities. 5eimbursement of hospitalization expenses for diseases specified in the bipartite ? 405 for retired employees. The objective of this scheme is to provide the assistance in the form of reimbursement of hospitalization expenses incurred by the retired employee <who has joined this scheme= for #8

himself and?or his spouse, under the 0$0"(edical assistance 0cheme to retired employees. Tran(it 0o)e( at Mu)bai6 C0ennai6 Ca cutta and New 3e 0i for t0e (taff )e)ber( and t0eir fa)i . )e)ber(E In furtherance of the welfare of staff, bank to start with, has established Transit home?'ccommodation at .ew Delhi, (umbai, and 3alcutta ) 3hennai for the purpose of stay by the staff members?dependents, who are coming for (edical treatment thereat. The allotment should be given based on the E@irst 3ome @irst serveF and there shall be a common list for all categories of employees irrespective of their cadre. Tie/u, arran2e)ent in re,uted 0o(,ita ( for re(er'ation of bed( 5 credit tie u, arran2e)entE The facility should be available to all staff members and their family members who are eligible for reimbursement of hospitalization expenses under bipartite settlement?officersC service regulations. In furtherance of the welfare of the staff, a scheme for tie"up arrangement wit reputed hospital, viz. (adras (edical (ission for treatment of 3ardio" >ascular diseases for all the staff members and their dependents has been introduced. Reward to t0e c0i dren of e), o.ee( of t0e @an: w0o ,a(( SSC and 0i20er (econdar. eFa)ination )eritoriou( .E The objective of the scheme is, this scheme was introduced with a view to promote and encourage the spirit of competition among the children of employees to pass 003?603 examination with higher percentage of marks. E(tab i(0)ent of 0o ida. 0o)e(E The objective is rest and recreation is invaluable for an employee. ,esides enabling the employees to spend quality time with his family, it also helps him to refresh himself and re"channels his energies. The ,ank has, therefore, started holiday homes at various places

#9

for its employees at concessional tariffs. The facility of holiday home can be availed by all the employees of ,ank and it has also been extended to retired employees of the bank as a gesture of good will subject to availability of suites at the time of booking after priority to the existing employees. Rei)bur(e)ent of tuition fee(5co(t of teFt boo:(5co(t of unifor) for (c0oo education to two c0i dren of t0e (ub ordinate (taff and rei)bur(e)ent of (c0oo tuition fee(5co(t of teFtboo:( to two c0i dren of ot0er (taff )e)ber(E The objective of the scheme is to provide a limited amount of financial incentive and support to staff member. The scheme covers reimbursement of tuition fees?cost of text books?cost of uniforms for school education of two dependent children of the sub ordinate staff <including permanent part time sub staff drawing scale wages #?- rd and above= and reimbursement of school tuition fees?cost of textbooks to two children of other staff members. Rei)bur(e)ent of co(t of 'accination for +e,atiti( H@I once in fi'e .ear( in re(,ect of (e f < )e)ber( of t0e fa)i . of t0e (taff )e)ber(E The objective is, as a part of the welfare of the employee and their dependents, a scheme has been devised, whereby the reimbursement of the cost of vaccination for 6epatitis O,C will be allowed to self and for family members of the staff once in five years, so as to enable them to take preventive steps at the right time, before the total disease strikes. Canteen eF,en(e(5(ub(id.: The existing rate structure of canteen subsidy stands reviewed to 5s.1;?" per employee per month and stands extended to all branches?offices irrespective of number of employees working thereat. Ob&ecti'e(

#. To understand ) present the various welfare measures at 3entral ,ank of India. *;

*. To find out how effectively existing welfare measures have been implemented. -. To examine the satisfaction level of !mployees regarding welfare measures provided by the 4rganization. /. To identify the existing employ welfare facilities particularly, !ducational facilities (edical facilities 3anteen facilities 6ousing facilities and Transport facilities.

1. To know and suggest improvements regarding the various welfare measures, programs and schemes taken up by the organization for the betterment of workers. 2. To analyze and suggest further improvement of existing welfare facilities in the organization.

Re(earc0 Met0odo o2. Need for t0e (tud.: $elfare measures are measures, which promotes the physical, psychological well being of the working population. !mployees are recognizing the importance of labour welfare activities in India very recently, government, by other agencies. !ncourage the employees. 5ecruit and retain the best personnel to increase and improve employee morale. *#

Develop employees economically and socially. Arovide primary needs. (otivate employees for increasing efficiency. 3reating the sense of social goods. Increase productivity and to maintain good industrial human relations.

Improve the standards of living of workers, housing, minimum wages and other benefits are bound to create a feeling of satisfaction among the workers and are therefore more helpful in reducing the extent of labor turn over and absenteeism. Arovisions of good medical and working conditions, recreational, educational are bound to increase the mental efficiency and economic productivity of industrial workers.

Sco,e of Stud.: The issues of welfare measures are related to overall development of workers both the physical and physiological being. !mployee welfare programs create a sense of belonging and adequacy that benefits the organization in the long run. 6ence the major study includes scope of the study is related to the employee welfare measures, like (edical facilities, !ducational facilities, 3anteen facilities, 6ousing facilities and Transport facilities, the innovative programs by the government for the workers through the different mechanisms and how the welfare is implied in the organization to the employees and their families which ultimately benefit the organization in the long run. Met0odo o2.: ,oth the primary and secondary research was conducted during the study. Source( for co ection of data: Secondar. 3ata: Data collected from books, annual 5eports of the organization are known as **

secondary data. 3ollection of other relevant information through secondary sources like Li)itation(: #. *. -. /. The time allotted for project is very less. @ear to give negative answers. 0ome employees due to their busy schedules did not give opinion. 's they are bound with rules and regulations of their bank, they are not able to reveal the facts. Internal records and Gournals booklets. 5eports and the manuals of the company

The observations made in this chapter and analysis there of are based on a questionnaire which covers the following major areas. #. *. -. /. 1. 2. 7. 8. 9. #;. ##. #*. #-. $orking atmosphere .umber of employees aware of facilities 'wareness of various facilities $elfare measures for the betterment of organization (otivation of employee through employee welfare measures !mployee satisfaction on employee welfare measures 0ense of security !ducational @acilities !ducational loans provided by ,ank (edical 'ssistance 0chemes Is (edical risk for his?her family covered by ,ank 6ousing @acilities 0atisfaction level on benefits provided by ,ank *-

#/. #1. #2. #7. #8.

Transport @acilities 3anteen @acilities Keneral @acilities $elfare and 0ocial (easures conveyed by the management !ffectiveness of $elfare (easures

#9. $hether the $elfare measures are periodically reviewed #* Tit e: Wor:in2 at)o(,0ere $hen the respondents are enquired about the working atmosphere, the views are based on the age of the respondents, the following responses are observed. A2e $ork 'tmosphere EFce ent Cood A'era2e Poor Tota @e ow $9 ;N ;N ;N ;N >J $9 G %9 -N #;N ;N ;N #%J %9 G "9 7N -7N -N ;N "=J Abo'e "9 #;N -;N ;N ;N ">J Tota $>J ==J %J >J #>>J

Working Atmosphere
50%
% of Respondents

0%

0% 30%

40% 30% 20% 10% 0%

oor Aver!ge "ood #$%ellent

37% 0% 10% 3%
25 - 35

0%
Below 25

7%
35 - 45

10%
Above 45

Age

*/

Inference: $hen respondents a asked about the working atmosphere and they are viewed based on the age, most of the respondents agreed that they are provided with good working atmosphere and some of the respondents agreed that they are provided with the excellent working atmosphere. Inter,retation: 77N of the respondents of all age groups agreed that the working condition is good while *;N of all the age groups agreed that the working atmosphere is excellent where as /7N of the respondents of the age between -1 I /1 and above /1 agreed that the working atmosphere is good and only #-N of the respondents of the age below -1 agreed as good, as they compared with the facilities provided by private bank and hence the respondent showing poor is nil.

*1

$* Tit e: Nu)ber of E), o.ee( aware of Faci itie( $hen 5espondents were asked to give their views pertaining to awareness of various @acilities, following responses were observed. Awarene(( of faci itie( No of E), o.ee( J Of E), o.ee( Ye( ** 7-N No 8 *7N

AWAR#&#'' () )A*+,+-+#'
27%

Yes No
73%

Inference: $hen 5espondents were asked to give their views pertaining to awareness of various facilities, most of sample respondents agreed that they are aware of various facilities. Inter,retation: 7-N of the sample respondents felt that they are aware of various @acilities+ where as *7N of the respondents are not aware of these facilities.

%* Tit e: Awarene(( of 'ariou( Faci itie( $hen the respondents were enquired about the various facilities they were aware of, the following responses were observed. a= !ducational @acilities c= 6ousing @acilities facilities *2 b= (edical @acilities d= 3anteen @acilities e= 'll

Faci itie( A6 b < c A6 b6 c < d @6 c < d A<d On . e

No of Re(,ondent( * 1 * #;

J Of Re(,ondent( 9N *-N #/N 9N /1N

% of Respondents 45% 9% 23%

a,b & c a,b,c & d b,c & d a&d only e

9%

14%

Inference: when respondents were asked to know the facilities they are aware of, it is concluded that most of the respondents are aware of all the @acilities provided by the bank. Inter,retation: /1N of the respondents are aware of all the facilities provided by the organization where as *-N of the respondents are aware of !ducational facilities, (edical facilities, 6ousing facilities ) 3anteen facilities while #/N of the respondents are aware of (edical facilities, 6ousing facilities ) 3anteen facilities and 9N of respondents are aware of !ducational facilities, (edical facilities, 6ousing facilities ) 3anteen facilities.

*7

"* Tit e: We fare )ea(ure( for t0e better)ent of t0e or2ani1ationE $hen respondents were asked to rank, whether the employee welfare measures work for the betterment of the organization. Ran:( !iew( a= To improve efficiency of the

$ /-N #/N 7N *-N #-N

% *;N /-N #;N #;N #7N

" /N *-N *;N /-N #;N

9 ;N *;N 2;N *;N ;N

--N employees b= To build up the organization ;N c= To achieve only tangible and /N temporary benefits d= To retain skilled employees /N e= To built up human assets and employee loyalty to achieve the 2;N long"term goals

*8

/0%

% of Respondents

.0% 50% 40% 30% 20% 10% 0%

60% 43% 33% 43% 43%

60% a b c d e

4% 4% 0%
1

23% 20% 23% 20% 20% 17% 20% 14% 13% 10% 10% 10% 4% 7% 0% 0%
2 3 4 5

R!nks

Inference: $hen respondents are asked to rank, how these employee welfare measures work for the betterment of the organization, most of the respondents ranked to achieve only tangible and temporary benefits and to build up human assets ) employee loyalty to achieve the long" term goals. Inter,retation: 2;N of the respondents ranked, to achieve only tangible benefits and temporary benefits and to built up human assets ) employee loyalty to achieve the long term goals, while /-N of the respondents ranked, to improve efficiency of employees, to build up the organization and to retain skilled employees.

*9

9* Tit e: Moti'ation of E), o.ee t0rou20 E), o.ee We fare Mea(ure( $hen sample respondents were enquired whether these employee welfare measures help the organization to motivate its employee so that these valuable human resources can be effectively utilized for improving the performance of the organization, the following responses were observed.

S NO # * /

!IEW True True to some extent .ot possible at all .ot possible without employee will to excel 73%

J OF RESPON3ENTS 7-N *;N 7N ;N

00% /0% .0% 50% 40% 30% 20% 10% 0%

1 True 2 True to some extent 3 Not oss!ble at all

20%

4 Not oss!ble "!t#out em loyee "!ll to excel

7% 0% % () R#' (&1#&-' -;

Inference: $hen respondents were asked to give their opinion regarding the employee welfare measures, most of the respondents are accepting that these employee welfare measures help the organization to motivate its employee so that these valuable human resources can be effectively utilized for improving the performance of the organization, while some of the respondents are accepting to some extent. Inter,retation: 7-N of the respondents felt that it is True i.e. these employee welfare measures help the organization to motivate its employee so that these valuable human resources can be effectively utilized for improving the performance of the organization, where as *;N of the sample felt that it is true to some extent and 7N of the sample respondents are felt as .ot possible at all.

;* Tit e: E), o.ee Sati(faction on E), o.ee We fare Mea(ure( $hen respondents were enquired on the 0atisfaction level of !mployee $elfare (easures, the following responses are observed. -#

Sati(fied to Sc0e)e( oan @acilities (edical ,enefits 4ther ,enefits Keneral @acilities Sati(fied 9;N -7N 1;N /-N So)e eFtent #;N 17N --N /-N Cannot (a. ;N ;N 7N 7N

3i((ati(fied to (o)e eFtent ;N -N ;N 7N

Tota . 3i((ati(fied ;N -N #;N ;N

100% 20% 00% /0% .0% 50% 40% 30% 20% 10% 0%

90%

Loan Faci itie(

57% 50% 43% 43% 33% 10% 10% 3% 7% 7% 7% 3% 0% 0% 0% 0% 0% 0%

Medica @enefit( Ot0er @enefit( Cenera Faci itie(

37%

( Sati

fie d

( fie Sati

d to 3

t d a. Fte n i( fie ot ( t e n a n e ( i( Ca o) .3 to ( a d t e o T ti( fi i( ( a

Inference: $hen 5espondents were enquired about the satisfaction level, most of the respondents are fully satisfied with the loan @acilities, some of the respondents are satisfied to some extent, while some of the respondents are satisfied with the (edical facilities. Inter,retation: 9;N of the respondents are satisfied with the loan facilities, where as 17N of the respondents are satisfied to some extent with the (edical @acilities, 7N of respondents are dissatisfied to some extent with the Keneral @acilities and #;N of the respondents are totally dissatisfied with the other benefits.

-*

S NO # * -

!IEW Mes (ay ,e .o

J OF RESPON3ENTS 8;N *;N ;N

=* Tit e: Sen(e of Securit. $hen respondents are enquired that whether these welfare measures provide sense of security, the following responses were observed.

--

'ense of 'e%3rit4
20% 0%

Yes %ay &e No

$0%

Inference: (ost of the respondents viewed that these !mployee $elfare (easures provides the sense of 0ecurity. Inter,retation: 8;N of the respondents agreed that these !mployee $elfare (easures provide the sense of security, while *;N of the respondents agreed that these measures provide the 0ense of 0ecurity.

8* Tit e: Educationa Faci itie( $hen respondents were enquired about the 0atisfaction level on the !ducational 'llowance for 3hildren and for 0elf"!ducation, the following responses are observed. Educationa Sati(fied to 3i((ati(fied to 3i((ati(fied to Tota . A owance Sati(fied So)e eFtent Cannot (a. So)e eFtent So)e eFtent 3i((ati(fied For c0i dren --N -7N 7N #-N #-N #;N For (e f *7N /;N #;N #;N #;N #-N education

-/

45% 40% 35% 30% 25% 20% 15% 10% 5% 0%

0atisfied
37% 33% 40% 27%

0atisfied to some extent 3annot say

10%13%

7% 10%

13%

10%

)or %hildren

)or self ed3%!tion

Dissatisfied to some extent Totally dissatisfied

Inference: Mo(t of t0e re(,ondent( are 'iewed t0at6 t0e Educationa a owance ,ro'ided for C0i dren Education and for Se f Education are (ati(fied to (o)e eFtentE Inter,retation: -7N of the respondents are satisfied with some extent and --N of the respondents are satisfied with the educational allowance provided for children where as /;N of the respondents are satisfied to some extent and *7N of the respondents are satisfied with the educational allowance provided for self education.

9= Tit e: Educationa oan( ,ro'ided b. @an: $hen 5espondents are enquired about the ,ank loans provided for various !ducational facilities, the following responses are observed. Educationa oan( !ducational leave for self @or self education oan for dependents Ye( -;N 2;N 8;N Ma. be --N *-N 7N No -7N #7N #-N

-1

#d3%!tion!l ,o!ns
100% 00% .0% 40% 20% 0%
5es 6!4 be &o

$0% 60% 30% 33% 23% 7% 37% 17% 13%

'or sel( educat!on )ducat!onal lea*e (or sel( +oan (or de endents

Inference: when respondents are enquired about the !ducational facilities provided by bank, most of the respondents viewed that they are provided with the oan for 0elf !ducation and oan for dependents and some of the respondents viewed that they may be provided with the educational leave for self. Inter,retation: 8;N of the respondents agreed that they are provided with the loan for dependents, 2;N for 0elf, -;N for !ducational leave for 0elf and --N of the respondents agreed that they may be provided with the !ducational leave for self, *-N and 7N for 0elf !ducation and loan for dependents.

-2

#>* Tit e: Medica A((i(tance Sc0e)e( $hen the sample respondents were enquired about the (edical 'ssistance schemes provided by ,ank, the following responses are observed.

Medica Faci itie( 0atisfied a= (edical aid as a lump sum amount b= 6ospitalization !xpenses for self c= 6ospitalization !xpenses for dependents d= (edi"3laim insurance card for self e= (edi"3laim insurance card for Dependents f= Transit homes for other places while in (edical treatment g= (edical aid on 5etirement h= 6ospitalization !xpenses for self after 5etirement -N /7N --N -N -N *7N *;N *-N

0atisfied to 0ome !xtent 1/N 1;N 17N 7N #;N 1;N -;N *-N

3annot 0ay -N -N 7N -;N *7N #-N */N *7N

Dissatisfied to some extent #;N ;N -N *7N --N -N #-N #7N

Totally Dissatisfied -N ;N ;N --N *7N 7N #-N #;N

Medica A((i(tance Sc0e)e(

-N -N -N Inference: (ost of the respondents are satisfied to some extent with the 6ospitalization ;N 100% 90% -N *7N -!ssat!s(!ed ;N ;N 7N #;N 7N #-N 6omes, expenses for self and (edical aid, and while some of the #;N for dependents, Totally -N Transit --N aid on 5etirement #-N respondents80% are satisfied with the (edical and hospitalization #7N expenses for #-N -!ssat!s(!ed to .annot say

J of Re(,ondent(

1;N self after 5etirement, while some dissatisfied with the (edi"claim insurance card for self and some extent 70%

for dependents. 60%

50%

1/N

17N *7N

--N

*/N 1;N -;N

*7N

/at!s(!ed to Inter,retation: 40% 17N of the respondents are satisfied to some extent with the 6ospitalization

expenses for dependents, 1;N with the 6ospitalization expenses for self, /at!s(!ed 1/N with the 30% *7N -;N /7N 20% (edical aid, 1;N with the Transit home and -;N with the (edical aid on retirement, where as --N *-N of
-;N 10% the respondents 0% *;N are satisfied with#;N the 6ospitalization expenses for self after 7N -N -N *7N *-N

*-N

some extent

e -7

Sc0e)e(

5etirement, while --N of the respondents are totally dissatisfied with the (edi"claim insurance card for self, *7N with the (edi"claim insurance card for dependents. ##* Tit e: Medica Ri(: for 0i(50er fa)i . i( co'ered b. ban:E $hen the sample respondents were enquired whether (edical risk for his?her family based on Dependents is covered with the available facilities, the following responses are observed. Dependents (edical 5isk M!0 .4 T4T' .I ;N -N -N #"* *;N *;N /;N -"/ -/N *;N 1/N 'bove / ;N -N -N

Total 1/N /2N #;;N

6edi%!l Risk for 1ependents

35% 30% 25% 20% 15% 10% 5% 0% 0% 5#' 0% 3% &( 3% 34% N0+ 20% 20% 20% 1 to 2 3 to 4 1bo*e 4

Inference: w0en t0e re(,ondent( are a(:ed about t0e )edica ri(: of 0i(50er fa)i . ba(ed on de,endent(6 Mo(t of t0e re(,ondent( a2reed t0at )edica ri(: i( co'ered wit0 t0e a'ai ab e faci itie( ,ro'ided b. @an:E Inter,retation: 1/N of the respondents agreed that the medical risk for his?her family is covered with the available facilities where -/N of the respondents are having dependents between - I / and *;N of the respondents are having # I * dependents, while /2N of the respondents are not agreed with this where *;N of the respondents are having # I * and - I / dependents.

-8

#$* Tit e: +ou(in2 Faci itie( W0en t0e re(,ondent( were en-uired to 2i'e t0eir 'iew( re2ardin2 t0e +ou(in2 Faci itie( ,ro'ided b. @an:6 fo owin2 are re(,on(e(E Sati(fied to Cannot So)e eFtent (a. /7N #7N ##N -;N -N ;N #;N 2N 3i((ati(fied to So)e eFtent 7N -;N *-N #;N
/at!s(!ed /at!s(!ed to /ome extent
30% 23% 11% #-N 10% 10%

+ou(in2 faci itie( a* Pa.)ent of +RA b* +ou(in2 Loan( c* Pro'idin2 ban: Kuarter( d* Rei)bur(e)ent Of rent
8>J =>J ;>J 9>J ">J %>J $>J #>J >J /-N

Sati(fied /-N 8;N #-N //N

8;N

Tota . 3i((ati(fied ;N ;N -7N #;N

47% 37% 30% 17% 3% 7% 0% 0% 0% b

//N

.annot say -!ssat!s(!ed to /ome extent Totally -!ssat!s(!ed

10% 6% d

Inference: (ost of the respondents are satisfied with the 6ousing loans for construction of houses, 5eimbursement of 5ent and some of the respondents are satisfied to some extent with the Aayment of 65', some of the respondents totally dissatisfied with the providing bank quarters. Inter,retation: 8;N of the respondents are satisfied with the 6ousing loans for construction of houses, //N with 5eimbursement of rent and /7N of the respondents are satisfied to some extent with the Aayment of 65'. #%* Tit e: Sati(faction e'e on @enefit( Pro'ided b. @an: $hen the respondents were enquired about the satisfaction level of the ,enefits provided by -9

bank, the following responses were observed. S NO # * / 1 !IEW 0atisfied 0atisfied to some extent 3annot say .ot satisfied Dissatisfied to some extent
.0% 50% 40% 30% 20% 10% 0% 0% 10% 0% 40%

J OF T+E RESPON3ENTS /;N 1;N ;N #;N ;N

50%

1 /at!s(!ed 2 /at!s(!ed to some extent 3 .annot say 4 Not sat!s(!ed 5 -!ssat!s(!ed to some extent

% (f the respondents

Inference: $hen the respondents are enquired about the satisfaction level of benefits, (ost of the respondents are satisfied to some extent and some of the respondents are satisfied with the benefits provided by ,ank. Inter,retation: 1;N of the respondents are satisfied to some extent with the benefits provided by bank where as /;N of the respondents are satisfied with the benefits and #;N of the respondents are not satisfied with the benefits provided by bank. #"* Tit e: Tran(,ort Faci itie( $hen the respondents were asked about that the transport facilities and the satisfaction level on 3onveyance allowance provided by ,ank the following responses were observed

/;

S NO # * / 1

!IEW 0atisfied 0atisfied to some extent 3annot say .ot satisfied Dissatisfied to some extent

J OF RESPON3ENTS 2-N #7N ;N #7N -N

/0% .0% 50% 40% 30% 20% 10% 0%

63%

1 '!tisfied 2 '!tisfied to some e$tent 3 *!nnot s!4

17% 0%

17% 3%

4 &ot s!tisfied 5 1iss!tisfied to some e$tent

% of respondents

Inference: (ost of the respondents are satisfied with the Transport facility and the 3onveyance allowance, while same number of respondents is satisfied to some extent and not satisfied with the 3onveyance allowance provided by ,ank for the purpose of transport. Inter,retation: 2-N of the respondents are satisfied with the 3onveyance allowance while #7N of the respondents are satisfied to some extent and not satisfied with the transport facility and 3onveyance allowance provided by ,ank.

/#

#9* Tit e: Canteen Faci itie( $hen respondents were enquired about their views pertaining to canteen facilities, the following responses are observed. S NO !IEW # !xcellent * Kood 'verage / .ot Kood J OF RESPON3ENTS -N -;N 2;N 7N

*!nteen )!%ilities
60% 60% 50% 40% 30% 20% 10% 0% 3% 7%
4 Not 5ood 1 )xcellent

30%

2 5ood 3 1*era,e

% 2' 3)/42N-)NT/

Inference: $hen the respondents were asked to give their views pertaining to canteen facilities, most of the sample respondents agreed that the canteen facilities are average and some of the respondents agreed that the canteen facilities are good. Inter,retation: 2;N of the respondents agreed that the canteen facilities were average and -;N of the respondents agreed that canteen facilities were good and -N of the respondents agree that the canteen facilities are excellent.

/*

#;* Tit e: Cenera faci itie( $hen the sample respondents were asked to give their views regarding the general facilities like drinking water, @irst aid box etc, the following are the responses observed. S NO # * !IEW M!0 .4 J OF RESPON3ENTS 9;N #;N

% () R#' (&1#&-'
10%
1 Y)/ 2 N2

90%

Inference: when the sample respondents are asked about the views pertaining to general facilities like drinking water and first aid box, most of the respondents agreed that they are satisfied with the general facilities. Inter,retation: 9;N of sample agreed that they are provided with satisfied general facilities like, drinking water, @irst aid box where as #;N of the sample are not satisfied with the general facilities.

#=* Tit e: We fare and Socia Mea(ure( con'e.ed b. t0e )ana2e)entE $hen the respondents are enquired about the welfare and social measures conveyed by the /-

management, the following responses are observed.

S NO # * -

!IEW Kreat !xtent 0atisfactory imited !xtent

00% /0% .0% 50% 40% 30% 20% 10% 0% 0%

J OF RESPON3ENTS ;N 77N *-N

77% "re!t #$tent '!tisf!%tor4 23% ,imited #$tent

% () R#' (&1#&-'

Inference: $hen respondents were asked about the views pertaining to the $elfare and 0ocial (easures conveyed by the management, most of the respondents agreed that the $elfare and 0ocial (easures conveyed by the management are to the great extent. Inter,retation: 77N of the respondents agreed that the $elfare and 0ocial (easures conveyed by the management are to the great extent, while *-N of the respondents are agreed that these $elfare and (easures conveyed by the management. #8* Tit e: Effecti'ene(( of We fare Mea(ure( $hen the sample respondents are enquired about the views pertaining to the !ffectiveness of $elfare measures, the following responses are observed. S NO # !IEW 0ufficient // J OF RESPON3ENTS 8;N

* -

@ully !ffective 6ardly #ffe%tiveness

13%

7N #-N

7%

1 /u((ece!nt 2 'ully )((ect!*e 3 6ardly

$0%

Inference: when the sample respondents are asked about the views pertaining to the !ffectiveness of welfare measures, most of the respondents viewed that the effectiveness welfare measures are 0ufficient and some of the respondents viewed as 6ardly. Inter,retation: 8;N of the sample respondents were agreed that the !ffectiveness of $elfare (easures were 0ufficient, where as #-N of the respondents agreed that the !ffectiveness of $elfare (easures were hardly, while 7N of the respondents agreed that the !ffectiveness of $elfare measures are @ully !ffective. #7* Tit e: W0et0er t0e We fare )ea(ure( are ,eriodica . re'iewed $hen the respondents are enquired about the reviewing of these $elfare (easures, the following responses are observed. S NO # * !IEW Aeriodically .ever 4nly on @requent 5equests J OF RESPON3ENTS 1-N ;N /7N

/1

.0% 50% 40% 30% 20% 10% 0%

53% 47%

4er!od!cally

Ne*er

0%

2nly on 're7uent 3e7uests

% () R#' (&1#&-'

Inference: $hen the respondents are enquired about the reviewing of these welfare measures, most of the respondents viewed that they are periodically reviewed and some of the respondents viewed that they are reviewed only on frequent requests. Inter,retation: 1-N of the respondents agreed that $elfare measures are periodically reviewed and /7N of the respondents agreed that $elfare measures are reviewed only on frequent requests.

SUMMARY Title $orking 'tmosphere Interpretation 0ome of the respondents of all age groups agreed that the working atmosphere is excellent and most of the respondents of all age groups agreed that the working condition is good and the respondent showing poor is nil.

#.

/2

*.

.o of employees aware 7-N of the sample respondents felt that they are of facilities aware of @acilities are provide by ,ank+

-. 'wareness of various facilities

(ost of the respondents are aware of all the facilities while some of the respondents are aware of only !ducational facilities, (edical facilities

/. $elfare

measures

and 6ousing facilities. for the (ost of the respondents ranked, to achieve only tangible benefits and to built up human assets while some of the respondents ranked, to improve

betterment of the organization

efficiency of employees. 1.(otivation of employee through (ost of the respondents felt that employee employee welfare measures welfare measures help the organization to motivate its employee so that these valuable resources can be effectively utilized for improving the performance of the organization. 2. !mployee satisfaction on (ost of the respondents are satisfied with the loan facilities and (edical facilities and some of the respondents are satisfied to some extent with the general facilities. 7.0ense of security (ost of the respondents felt that these employee welfare measures provide the sense of security. 8. !ducational @acilities (ost of the respondents are satisfied to some extent with the !ducational allowance provided for children and some of the respondents are satisfied with the !ducational allowance provided for self"education.

employee welfare measures

/7

9. !ducational loans provide by (ost of the respondents agreed that they are ,ank provided with the loan for dependents and some of the respondents felt that they may be provided with the education leave for self. #;.(edical 'ssistance schemes (ost of the respondents are satisfied to some extent with the hospitalization expenses for dependents and hospitalization expenses for self after retirement and some of the respondents are dis satisfied with the (edi"claim insurance card for self and for dependents ##. Is (edical risk for his?her (ost of the respondents having - I/ and # I * family covered by ,ank dependents agreed that the (edical risk for his?her family is covered with the available #*. 6ousing @acilities facilities. (ost of the respondents are satisfied with the housing loans for construction of houses and some of the respondents are satisfied to some extent with the payment of 65'. #-.0atisfaction level on benefits (ost of the respondents are satisfied to some provided by ,ank. extent with the benefits provided by ,ank.

#/. Transport @acilities

(ost of the respondents are satisfied with the conveyance allowance provided by ,ank, as there is no transport facility.

#1. 3anteen @acilities

(ost of the respondents are of the opinion that the canteen facilities are average and some of the respondents agreed that the canteen facilities are good. /8

#2.Keneral @acilities

(ost of the respondents agreed that they are provided with satisfied general facilities like drinking water, @irst aid box etc.

#7.$elfare and social measures (ost of the respondents agreed that the $elfare conveyed by management and social measures conveyed by the management are to the great extent. #8. !ffectiveness measures of $elfare (ost of the respondents felt that the effectiveness of welfare measures are sufficient and some of the respondents felt it hardly. #9. $hether the $elfare measures (ost of the respondents agreed that these $elfare are periodically reviewed. measures are periodically reviewed where as some of the respondents agreed these $elfare measures are reviewed only on frequent requests.

Conc u(ion(

/9

1;

Su22e(tion( for i),ro'e)ent in We fare (c0e)e( or for i),ro'e)ent new (c0e)e !xpect the management to cover all ailments including Dental. 6ospitalization expenses can be increased. Tie"ups should be made with 6ospitals and good !ducational Institutions. Increase in 6ouse rent 5eimbursement To increase quantum of (edical coverage. $hile sanctioning of loans, there should not be take home pay condition. There should be a park for recreation to the member of staff and their family where the staff and then families meet regularly. 3reation of panel of specialized Doctors. 4verall welfare measures to be tuned with other banks like 0,I.

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 6ospitalization bills in total to be reimbursed. 5eimbursement of expenses and grant of incentives I lump sum or otherwise for acquiring professional qualifications like I3$', '30, (3', (,'. The amount reimbursed under educational allowance for children should be enhanced substantially. @requent interaction with the staff member feed back. 6ousing loans and !ducational loans to be sanctioned at lower rates of interest. Improvement of (edical aid and relaxation in T3 schemes. Interest on staff loans should be rationalized and reduced. 3anteen facilities are to be improved. Insurance for the 6ousing loan, so that the loan outstanding are adjusted out of insurance claim completely in the event of death of staff member. The reason for this is if insurance cover is not there in case of death of staff member, large amount of terminal benefits are adjusted towards these loans. 6aving some Tie"ups with school management should insure new scheme" 0chool admission to children of staff on transfer. :niform !ducation facilities for children to be improved at all the centers, some seats in the good schools are to be reserved for ,ank !mployees children. 5easons are& a= 0taff faces a lot of problems in getting admission to good schools on Transfers. b= ,ecause ours is 'll India level transferable job for every - years. c= 't every center we are incurring huge expenses in the form of 'dmission fee ? Tuition fee ? Donations etc. (edi "3laim and Tie"up with major reputed hospitals in the city so that the member need not pay huge amount on the rise of admission in to hospitals. 5eimbursement of expenses on self"education. The reasons for this is& a= !ncouragement acquiring addition knowledge that will help the bank. 4rganization schools for staff children staff

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WE@ SITES: www.thecentralbankofIndia.co.In $$$.Kooglesearch.3om

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