Professional Documents
Culture Documents
A
PROJECT REPORT
ON
submitted to submitted by
mrs. neha dubey gourav chourasiya
mba iv sem.
PREFACE
GOURAV CHOURASIYA
MBA IV SEM.
ACKNOWLEDGEMENT
Preparing a project of this nature is an arduous task and I was fortunate
enough to get support from a large number o persons. I wish to express my deep
sense of gratitude to all those who generously helped in successful completion of
this report by sharing their invaluable time and knowledge.
I feel extremely exhilarated to have completed this project under the able
and inspiring guidance of He rendered me all possible help me guidance while
reviewing the manuscript in finalising the report.
GOURAV CHOURASIYA
MBA IV SEM.
DELCLARATION BY THE CANDIDATE
Date :
I declare that the project report titled " A STUDY TO VERIFY THE
under the supervision of MRS. NEHA DUBEY. To the best of my knowledge the
report does not contain any work , which has been submitted for the award of any
degree , anywhere.
GOURAV CHOURASIYA
MBA IV SEM.
CERTIFICATE
Degree of MBA
1) Introduction
2) Objective Of the Study
3) Need of the Project
4) Scope of the Project
5) Research Methodology
6) Limitations of the Project
Chapter II:
1) Company Profile
2) Organization Chart
3) Benefits given by the Company
Chapter III:
1) Theoretical Background
2) Data Analysis & Interpretation
Chapter IV:
1) Findings
2) Suggestions
3)
Bibliography
1. Introduction
Welfare includes anything that is done for the comfort and improvement of employees and is
provided over and above the wages. Welfare helps in keeping the morale and motivation of the
employees high so as to retain the employees for longer duration, which helps the organization to
achieve its goals. “Employee welfare is a comprehensive term including various services,
benefits and facilities offered to employees & by the employers. Through such generous fringe
benefits employer makes life worth living for employees.”
According to the Royal Commission on Labor Labor welfare is a term which must necessarily
be elastic, bearing a somewhat different interpretation in one country from another, according to
different social customs, the degree of industrialization and educational level of workers.
The Oxford dictionary defines employee welfare as “efforts to make life worth living for
workmen”
After employees have been hired, trained and remunerated, they need to be retained
and maintained to serve the organisation better. Welfare facilities are designed to take care of the
well- being of the employees, they do not generally result in any monetary benefit to the
employees. Nor are these facilities provided by employers alone. Governmental and non-
governmental agencies and trade unions too, contribute towards employee welfare.
Welfare includes anything that is done for the comfort and improvement of employees and is
provided over and above the wages or salary . Welfare helps in keeping the morale and
motivation of the employees high so as to retain the employees for longer duration and its also
increase efficiency of work. In future employee welfare will be very important concept in HR
because it is beneficial for employee and organization also.
2.Objective of study
Many studies contend that benefits are the most useful mean to attract, motivate and retain
employees. Companies offering more voluntary benefits have better chance of attracting
qualified people and retaining them. On the other hand retention is key challenge in firms lacking
such welfare benefits and where work tends to get routine and there is no opportunity for
personal growth and development.
The most common reason that employee turnover take place includes monotonous work
schedule, stress at workplace, lack of career growth, training and development opportunities etc
but if employer provide various welfare facilities regarding health, safety, training and
development, then, there will be employee satisfaction and retention in organization.
4. Scope of Project
welfare is a relative concept, relative in time and space. It, therefore, varies from time to time,
from region to region and from country to country. Employee welfare, also referred to as
betterment work for employees, relates to taking care of the well-being of workers by employers.
Welfare helps in keeping the morale and motivation of the employees high so as to retain
the employees for longer duration. The welfare measures need not be in monetary terms only but
in any kind/forms. Employee welfare includes monitoring of working conditions, creation of
industrial harmony through infrastructure for health, industrial and insurance against disease,
accident and unemployment for the workers and their families.
employer The very logic behind providing welfare schemes is to create efficient, healthy, loyal
and satisfied labor force for the organization. The purpose of providing such facilities is to make
their work life better, increase production and also to raise their standard of living.
To study regarding all above welfare concept carried out in Larson and Toubro company at
powai Implementation of various polices and its satisfaction on their employee.
5. Research Methodology
Research Methodology – Research Methodology is the procedure used in making systematic
observation or otherwise obtaining data, evidence, and information as part of research project or
study. It is a science of studying how research is to be carried out.
Research - Research is a logical and systematic search for new and useful information on
a particular topic.
Research is a process of steps used to collect and analyze information to increase our
understanding of a topic or issue.
Types of Research
Exploratory research – Exploratory research is often conducted because a problem has not been
clearly defined as yet, or its real scope is as yet unclear. It allows the researcher to familiarize
him/herself with the problem or concept to be studied. It is the initial research, before
more conclusive research is undertaken.
Exploratory research helps determine the best research design, data collection method and
selection of subjects. This type of research helps researcher to get proper perception about the
topic. Exploratory research focuses on collecting data using an unstructured format or informal
procedures to capture data and to interpret them.
For this project, exploratory research was used to get information about payroll process at ISS
India. The source of collection of data is secondary which was collected with the help of a
questionnaire. Questionnaires were given to the employees who were handling payroll process is
an important source of data which was used for comparative study. The data was also collected
from the company’s manual & through websites.
Descriptive Research - Descriptive research is done with a specific research question in mind. It
gives a set view of the subject, population, market segment or problem. Descriptive research
provides research questions, populations or methods of analysis before the research is started. It
is concerned with the description of data and characteristics about a population.
A survey had been conducted at ISS to understand the payroll staff’s efficiency & their ability to
solve queries. The questionnaire was circulated to the internal employees of ISS at the corporate
office of the company.
The same survey was conducted at another company Modern Protected Investigation Ltd. This
helps in a comparative study between the payroll processes of the mentioned companies.
The survey was made with the questionnaire containing 25 questions. In that survey employees
were asked to rate their opinion about different welfare policies of L&T.
Secondary data:
In secondary data used various website for data . L&T’s annual report, monthly magazines,
journals etc used. Various books referred of Human resource management.
6. Limitation of Study
This study having certain limitiation as follows
1.Company Profile
1. Overview:
Larsen & Toubro Limited (L&T) is a technology, engineering, construction and manufacturing
company. It is one of the largest and most respected companies in India's private sector.
More than seven decades of a strong, customer-focused approach and the continuous quest for
world-class quality have enabled it to attain and sustain leadership in all its major lines of
business.
L&T has an international presence, with a global spread of offices. A thrust on international
business has seen overseas earnings grow significantly. It continues to grow its overseas
manufacturing footprint, with facilities in China and the Gulf region.
The company's businesses are supported by a wide marketing and distribution network, and have
established a reputation for strong customer support.
L&T believes that progress must be achieved in harmony with the environment. A commitment
to community welfare and environmental protection are an integral part of the corporate vision.
In response to changing market dynamics, L&T has gone through a phased process of redefining
its organisation model that facilitates growth through greater levels of empowerment. The new
structure is built around multiple businesses designated ‘Independent Companies’ or ‘ICs’.
2. History :
The evolution of L&T into the country's largest engineering and construction organization is
among the most remarkable success stories in Indian industry. L&T was founded in Bombay
(Mumbai) in 1938 by two Danish engineers, Henning Holck-Larsen and Soren Kristian Toubro.
Both of them were strongly committed to developing India's engineering capabilities to meet the
demands of industry.
.
Henning Holck-Larsen
(4.7.1907 - 27.7.2003)
(27.02.1906 - 4.3.1982)
Beginning with the import of machinery from Europe, L&T rapidly took on engineering and
construction assignments of increasing sophistication. Today, the company sets global
engineering benchmarks in terms of scale and complexity.
Early Days :
Henning Holck-Larsen and Soren Kristian Toubro, school-mates in Denmark, would not have
dreamt, as they were learning about India in history classes that they would, one day, create
history in that land.
In 1938, the two friends decided to forgo the comforts of working in Europe, and started their
own operation in India. All they had was a dream and the courage to dare.
Their first office in Mumbai (Bombay) was so small that only one of the partners could use the
office at a time!
In the early years, they represented Danish manufacturers of dairy equipment for a modest
retainer. But with the start of the Second World War in 1939, imports were
restricted, compelling them to start a small work-shop to undertake jobs and provide service
facilities.
The war-time need to repair and refit ships offered L&T an opportunity, and led to the formation
of a new company, Hilda Ltd., to handle these operations. L&T also started two repair and
fabrication shops - the Company had begun to expand.
The Journey :
In 1944, ECC was incorporated. Around then, L&T decided to build a portfolio of foreign
collaborations. By 1945, the Company represented British manufacturers of equipment used to
manufacture products such as hydrogenated oils, biscuits, soaps and glass.
Independence and the subsequent demand for technology and expertise offered L&T the
opportunity to consolidate and expand. Offices were set up in Kolkata (Calcutta), Chennai
(Madras) and New Delhi. In 1948, fifty-five acres of undeveloped marsh and jungle was
acquired in Powai. Today, Powai stands as a tribute to the vision of the men who transformed this
uninhabitable swamp into a manufacturing landmark.
In December 1950, L&T became a Public Company with a paid-up capital of Rs.2 million. The
sales turnover in that year was Rs.10.9 million.
Expanding Horizons :
Today, L&T is one of India's biggest and best known industrial organisations with a reputation
for technological excellence, high quality of products and services, and strong customer
orientation. It is also taking steps to grow its international presence.
For an institution that has grown to legendary proportions, there cannot and must not be an 'end'.
Unlike other stories, the L&T saga continues.....
Vision :
The L&T vision reflects the collective goal of the company. It was drafted through a large scale
interactive process which engaged employees at every level, worldwide.
The Economic Times named Mr. A.M. Naik "Business Leader of the Year" for 2008.
L&T is among the top 100 Most Trusted brands of India as published in The Brand Trust
Report.
L&T Won Best Innovation in Logistics-Transportation award on 20 May 2011 from India
International Logistics Forum.
L&T Won The Financial Express-EVI Green Business Leadership Award for 2010-11.
The award was received from Dr.A.P.J. Abdul Kalam.
Company providing canteen facilities which they giving very nutrious food.
Company giving loan to it s employee with concession interest rate.
L&T providing employee stock option plan with concession rate.
To providing various facilities to employee ‘ s family like summer camp for children,
various medical camp, vocational guidance program, health, beauty and fitness program
etc
L&T also provided transport facilities to the employees.
Various training program conducted for carrier growth of employee.
It also giving low cost education to employee’s children through their technical education
institute (LTIT).
Company proving very efficient safety and security to it s employees.
2. State governments
Goverments of different state and union territories offer welfare facilities to worker.
In gujrat, Maharsashta, karntaka, and Punjab labor welfare centre are administered by
welfare boards.
3.Employer
Enlightened employer in pubic sector , private sector have undertaken various welfare
measures for interest of their employees.
4. Trade unions
Trade union is also one of party which involved in employee welfare activities .
Sometimes this may not be that effective because lack of finance and multi trade unions.
The employee welfare schemes can be classified into two categories viz. statutory and non-
statutory welfare schemes. The statutory schemes are those schemes that are compulsory to
provide by an organization as compliance to the laws governing employee health and safety.
These include provisions provided in industrial acts like Factories Act 1948, Dock Workers Act .
STATUTORY WELFARE SCHEMES
1. Drinking Water: At all the working places safe hygienic drinking water should be
provided.
3. First aid appliances: First aid appliances are to be provided and should be readily
assessable so that in case of any minor accident initial medication can be provided to the
needed employee.
4. Latrines and Urinals: A sufficient number of latrines and urinals are to be provided in
the office and factory premises and are also to be maintained in a neat and clean
condition.
6. Spittoons: In every work place, such as ware houses, store places, in the dock area and
office premises spittoons are to be provided in convenient places and same are to be
maintained in a hygienic condition.
7. Lighting: Proper and sufficient lights are to be provided for employees so that they can
work safely during the night shifts.
8. Washing places: Adequate washing places such as bathrooms, wash basins with tap and
tap on the stand pipe are provided in the port area in the vicinity of the work places.
9. Changing rooms: Adequate changing rooms are to be provided for workers to change
their cloth in the factory area and office premises. Adequate lockers are also provided to
the workers to keep their clothes and belongings.
10. Rest rooms: Adequate numbers of restrooms are provided to the workers with
provisions of water supply, wash basins, toilets, bathrooms, etc.
Many non statutory welfare schemes may include the following schemes:
1. Personal Health Care (Regular medical check-ups): Some of the companies provide the
facility for extensive health check-up.
2. Flexi-time: The main objective of the flextime policy is to provide opportunity to
employees to work with flexible working schedules. Flexible work schedules are initiated
by employees and approved by management
3. Employee Assistance Programs: Various assistant programs are arranged like external
counseling service so that employees or members of their immediate family can get
counseling on various matters.
4. Maternity & Adoption Leave – Employees can avail maternity or adoption leaves.
Paternity leave policies have also been introduced by various companies.
Approaches to employee welfare refer to the beliefs and attitudes held by agencies which provide
welfare facilities. Some agencies provide welfare facilities inspired by religious faith, others as a
philanthropic duty and the like.
The various approaches to labour welfare reflect the attitudes and beliefs of the agencies which
are engaged in welfare activities. Welfare facilities may be provided on religious, philanthropic.
or some other grounds. Moreover, the different approaches to labour welfare reflect the evolution
of the concept of welfare.
Employee welfare is comprehensive term including various services, benefit, and facilities
provided by employer to employees. The form of employee welfare activities is flexible, elastic
and differs from time to time, region to region, industry to industry and country to country
depending upon the value system. Organization provides welfare policy to motivate, keeping
morale high and increasing work efficiency of employee.
2. State governments
Goverments of different state and union territories offer welfare facilities to worker.
In gujrat, Maharsashta, karntaka, and Punjab labor welfare centre are administered by
welfare boards.
3.Employer
Enlightened employer in pubic sector , private sector have undertaken various welfare
measures for interest of their employees.
4. Trade unions
Trade union is also one of party which involved in employee welfare activities .
Sometimes this may not be that effective because lack of finance and multi trade unions.
The employee welfare schemes can be classified into two categories viz. statutory and non-
statutory welfare schemes. The statutory schemes are those schemes that are compulsory to
provide by an organization as compliance to the laws governing employee health and safety.
These include provisions provided in industrial acts like Factories Act 1948, Dock Workers Act .
1. Drinking Water: At all the working places safe hygienic drinking water should be
provided.
3. First aid appliances: First aid appliances are to be provided and should be readily
assessable so that in case of any minor accident initial medication can be provided to the
needed employee.
4. Latrines and Urinals: A sufficient number of latrines and urinals are to be provided in
the office and factory premises and are also to be maintained in a neat and clean
condition.
6. Spittoons: In every work place, such as ware houses, store places, in the dock area and
office premises spittoons are to be provided in convenient places and same are to be
maintained in a hygienic condition.
7. Lighting: Proper and sufficient lights are to be provided for employees so that they can
work safely during the night shifts.
8. Washing places: Adequate washing places such as bathrooms, wash basins with tap and
tap on the stand pipe are provided in the port area in the vicinity of the work places.
9. Changing rooms: Adequate changing rooms are to be provided for workers to change
their cloth in the factory area and office premises. Adequate lockers are also provided to
the workers to keep their clothes and belongings.
10. Rest rooms: Adequate numbers of restrooms are provided to the workers with
provisions of water supply, wash basins, toilets, bathrooms, etc.
NON STATUTORY SCHEMES
1. Personal Health Care (Regular medical check-ups): Some of the companies provide the
facility for extensive health check-up.
2.Flexi-time: The main objective of the flextime policy is to provide opportunity to employees
to work with flexible working schedules. Flexible work schedules are initiated by employees and
approved by management to meet business commitments while supporting employee personal
life needs
3.Employee Assistance Programs: Various assistant programs are arranged like external
counseling service so that employees or members of their immediate family can get
counseling on various matters.
4.Maternity & Adoption Leave – Employees can avail maternity or adoption leaves.
Paternity leave policies have also been introduced by various companies.
The various approaches to labour welfare reflect the attitudes and beliefs of the agencies which
are engaged in welfare activities. Welfare facilities may be provided on religious, philanthropic
or some other grounds. Moreover, the different approaches to labour welfare reflect the evolution
of the concept of welfare.
Religious theory
The theory views were an essentially religious. Religious feelings are what sometimes prompt
employers to take up welfare activities in the belief of benefits either in his life or in support after
life. Any good work is considered an investment, because both the benefactor and the beneficiary
are benefited by the good work done by the benefactor. This theory does not take into
consideration that the workers are not beneficiaries but rightful claimants to a part of the gains
derived by their labour.
Trusteeship theory
In this theory it is held that the industrialists or employers holds the total industrial estate,
properties and profits accruing form them in trust for the workmen, for himself , and for society.
It assumes that the workmen are like minors and are not able to look after their own interests that
they are ignorant because of lack of education. Employers therefore have the moral responsibility
to look after the interests of their wards, who are the workers.
Placating theory
As labour groups are becoming better organized and are becoming demanding and militant,
being more conscious of their rights and privileges that even before, their demand for higher
wages and better standards increases. The placing theory advocates timely and periodical acts of
labour welfare to appease the workers.
Public relations theory
The concept behind this theory is that a happy and healthy person is a better, more productive
worker. Here, welfare is used as a means to secure, preserve and develop the efficiency and
productivity of labour. As discussed earlier, the approach to any solutions, especially as that as
between the workers and the management should be dialogue and an understanding of one
Another viewpoint.
Throught the postwar period, large-firm employers have provided a majority of full-time workers
with a fairly comprehensive set of welfare or social insurance entitlements. Employee social insurance
has come in two varieties. First, firms have provided certain types of insurance directly, or contracted
private third parties to do so, and have bought or directly administered health insurance, pensions,
unemployment insurance (in the form of severance pay, and job security and income guarantees),
disability insurance and life insurance. Second, for other types of insurance, such as state workers
(accident) compensation, unemployment insurance, Social Security disability, and pension coverage, the
government has required firms to contribute, on a per-worker or experience-rated basis, to insurance
funds that cover workers as a group.
Strikingly, when these two forms of social insurance are taken together, employers appear to be
the entities that have been primarily responsible for worker’s social welfare; correspondingly, the United
States has relied substantially less than other industrialized countries on social welfare schemes financed
and administrated by the state or by quasi-public entities other than employers (such as craft or
professional groups). The term “ employee welfare state” encapsulates the observation that, during the
period from 1920 to 1970, large employers provided fairly comprehensive social insurance protections
for their workers.
By David Charny
Publish in www.heinonline.org
Looking at the above findings, one can conclude that, maximum number of employees found the
welfare policies of the company to be good.
In the above chart, employees were asked to rate their satisfaction level of medical policies of
L&T and it was found that:
Looking at the above findings, one can conclude that, maximum number of employees found the
medical policies of the company to be satisfactory.
In the above chart, employees were asked to rate quality of food provided in Canteen of L&T
and it was found that:
Looking at the above findings, one can conclude that, maximum number of employees found the
quality of food to be nutritious.
In the above chart, employees were asked to rate their satisfaction level of the training program
at L&T and it was found that:
Looking at the above findings, one can conclude that, maximum number of employees are
satisfied with the training program.
In the above chart, employees were asked whether they are aware of the welfare policies for their
family members at L&T and it was found that:
88% of employees are aware of the policies for their family members
12% of employees are unaware of the policies for their family members
Looking at the above findings, one can conclude that, maximum number of employees are aware
of the company policies for their family members.
In the above chart, employees were asked about their Satisfaction with the grievance handling
procedure of L&T and it was found that:
Looking at the above findings, one can conclude that, maximum number of employees are
satisfied with the grievance handling procedure.
In the above chart, employees were asked to rate the hygiene conditions at L&T and it was found
that:
Looking at the above findings, one can conclude that, maximum number of employees found the
hygiene conditions to be good and satisfactory.
In the above chart, employees were asked about their satisfaction with safety and security
measures at L&T and it was found that:
44% of employees are satisfied with the safety and security measures
40% of employees are average satisfied with the safety and security measures
16% of employees are dissatisfied with the safety and security measures
Looking at the above findings, one can conclude that, maximum number of employees are
satisfied with the safety and security measures of L&T.
Findings
Welfare policies are designed to attract, motivate and retain good employees. Companies
offering more voluntary benefits have better chance of attracting qualified people and
retaining them.
Laresn & Toubro is a leading Indian Multinational corporation, which provides various
welfare policies to its employees and also takes care of the wellbeing of its employees in
all respects.
From the survey on welfare policies of L&T it is found that, most of the welfare policies
of L&T are for the benefits of the employees. All the employees knows the welfare
policies very well and gets the benefits of them.
Employees are very satisfied with the welfare policies provided by the company.
Due to these good welfare policies, L&T is a successful organization in attracting and
retaining the employees.
Suggestions
L&T conducts various training programs for the benefits of employees, but the survey
shows that 12% employees are dissatisfied with the trainings provided. The reason for
this is sometimes the trainings provided are unnecessary and not related to the job profile
of employee. So L&T should conduct the necessary training programs related to the job
profile of employees so that all employees will get the proper benefits.
Various medical facilities are provided by the company to the employees as well as their
family members; still the survey shows that 8% employees are dissatisfied. They reported
the reason for this as sometimes it takes more time to get the medical facility, sometimes
the doctors are not available. So L&T should take more efforts to reduce such cases to
make sure that employee will get the medical help immediately when it is needed.
Many safety and security measures are implemented by L&T, still 16% of employees
says that some unnecessary security measures are implemented by the company which
shows that company not at all trust on the employees. So company can revise the safety
and security measures.
20% employees are dissatisfied with the grievance handling procedure, this is because
sometimes the responsible person takes more time to give response or some complaints
are simply ignored by the responsible person. So company should improve in this area so
that all the complaint get the proper attention and they should get resolved in less time
span.
Conclusion
Welfare policies are one of the important features in the growth of the company. The welfare
policies are designed to attract, motivate and retain good employees. Companies offering more
voluntary benefits have better chance of attracting qualified people and retaining them. To make
more business companies should hire more employees and retain their employees for long time.
To achieve this goal welfare policies play very important role.
Laresn & Toubro is a leading Indian Multinational corporation, which provides various welfare
policies to its employees. All the necessary things are provided by the company and it also take
care of the wellbeing of its employees in all respects. The company also takes necessary
measures so that each & every employee gets the benefits of welfare policies.
The survey was conducted to find the effectiveness of welfare policies. The survey shows that
the welfare policies are very effective and the employees are satisfied with the policies.
Bibliography
Books:
Internet:
http://www.larsentoubro.com/
http://www.larsentoubro.com/lntcorporate/common/ui_templates/homepage_news.aspx?
res=P_CORP
http://www.larsentoubro.com/lntcorporate/common/ui_templates/HtmlContainer.aspx?
res=P_EBG_BABT_BOB
http://www.citehr.com/
http://www.citehr.com/105271-require-questionnaire-employee-welfare.html
Annexure
QUESTIONAIRE
Designation :
Age:
Department:
Please answer the following questions(Please tick mark any one option as per your preference)
4. Is there canteen facility provided by L&T? If yes then, how would you rate the quality of food
provided?
a. Highly nutritious b. Some what nutritious c. Least nutritious
5. Was there a training program conducted for your team/department in the last 1 year/6 months?
a. Yes b. No
7. Are you aware of welfare policies available for your family members?
a. Yes b. No
9. Are you satisfied with the Grievance handling procedure of the company?
a. Satisfied b. Average Satisfied c. Dissatisfied d. Other
Comment/Suggest __________________________________________________________________
11. Are you satisfied with the safety and security measures of the company?
a. Satisfied b. Average Satisfied c. Dissatisfied d. Other
Comment/Suggest __________________________________________________________________