Employee-Welfare by Central Bank of India

8/13/2019 Employee-Welfare by Central Bank of India

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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

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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 ofwork 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.

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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

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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:

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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.

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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 convened by

I 4 includes the following items under labour welfare.

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


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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

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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 differentlegislations. 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=>: /

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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 *= (edical facilities

-= 3anteen facilities /= Tran(,ort faci itie(

1= oan facilitiesINTRO3UTION:

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

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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 US

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.

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#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 >#: 3/3 3ampaign 3entralities for customers, which is an integrated customer relationship

programs.

@RANC+ES AN3 EMPLOYEES STREN T+:

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 employeeswho 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& "

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#. (oney (ultiplier Deposit 3ertificate. idyardhi.

1. 3ent >yapari 0cheme.

2. Aersonal oan 0cheme.

7. 3ent (ortgage.

8. 3ent Trade.

9. 3ent 5entals.

#;. 3ent 3omputer.

##. 3ent iquid.

#*. 3ent 0chool.

The bank has laid special emphasis on industrialization and agriculture has been, and will longcontinue 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.

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OT+ER SER!ICES:

#. 3entral card.

*. TravelerCs cheques.

-. Kift cheques.

/. 3entralCs 0tock Invest.

1. 3entralCs Huick 3heque collection 0ervice. illage and 3ottage?Tiny Industry

v= 0mall 0cale Industries.

vi= '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 @ANBIN SC+EMES:

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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:

# Non/Re(ident 4E terna * 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.

$ 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.

% 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 & 505 accounts can be opened insavings ? Term Deposit ? 3urrent accounts in Indian 5upees. omination facility is also

available

% NonGRe(ident 4Non/Re,artriab e* Ru,ee 3e,o(it (c0e)e 4NR NR R3S*: " 'll on

5esident, Indians and foreigners

benefit from the high interest rates. This account will be maintained in Indian 5upees out of

funds remitted from abroad.

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

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Perfor)ance Para)eter %# >% $>>9 %# >% $>>"

#. 4peration Arofit #2;9 #1*9 et Arofit -17 2#8

*. Total Deposits 2;71* 119;9Kross 'dvances *9;81 *//72Total usiness 898-7 8;-81

et Investment -;8-1 -#/;1-. Ariority 0ector 3redit #**#2 99*1

'griculture 3redit 1#-7 -*7#/. Kross A' *2*# *9/-

Kross A'


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workman as defined under section *


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Rei)bur(e)ent of additiona Medica e ,en(e( to e), o.ee(5de,end( (ufferin2 fro)

i ne(( eadin2 to +o(,ita i1ation and 5or do)ici iar. treat)ent

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

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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(

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)ent

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.

e a)ination )eritoriou( .

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(

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

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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 te t 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 te tboo ( to two c0i dren of ot0er (taff )e)ber(

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 ordinatestaff


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*. 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.

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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 andadequacy 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

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secondary data. 3ollection of other relevant information through secondary sources like

Internal records and Gournals booklets.

5eports and the manuals of the company

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.

The observations made in this chapter and analysis there of are based on a questionnaire which

covers the following major areas.

#. $orking atmosphere

*. umber of employees aware of facilities

-. 'wareness of various facilities

/. $elfare measures for the betterment of organization

1. (otivation of employee through employee welfare measures

2. !mployee satisfaction on employee welfare measures

7. 0ense of security

8. !ducational @acilities

9. !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

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#/. Transport @acilities

#1. 3anteen @acilities

#2. Keneral @acilities

#7. $elfare and 0ocial (easures conveyed by the management

#8. !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

@e ow $9 $9 G %9 %9 G "9 Abo'e "9 Tota

E ce ent ;N -N 7N #;N $>Jood ;N #;N -7N -;N ==J

A'era2e ;N ;N -N ;N %JPoor ;N ;N ;N ;N >JTota >J #%J "=J ">J #>>J

0% 3%10%

0%

7%

37%

0%

10%

30%

0%

0%

10%

20%

30%

40%

50%

% o f R e s p o n

d e n

t s

Below 25 25 - 35 35 - 45 Above 45

Age

Working Atmosphere

oor

Aver!ge

"ood

#$ ellent

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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 /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.

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$* 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( Ye( No

No of E), o.ee( ** 8J Of E), o.ee( 7-N *7N

AWAR#'' () )A*+,+-+#'

27%

73%

YesNo

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, thefollowing responses were observed.

a= !ducational @acilities b= (edical @acilities

c= 6ousing @acilities d= 3anteen @acilities e= 'll

facilities

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% of Respondents

9%

14%9%

23%45% a,b & c

a,b,c & db,c & d

a & d

only e

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.

Faci itie( No of Re(,ondent( J Of Re(,ondent(A6 b < c * 9N

A6 b6 c < d 1 *-N@6 c < d - #/NA < d * 9NOn . e #; /1N

*7


28/53

"* Tit e: We fare )ea(ure( for t0e better)ent of t0e or2ani1ation

$hen respondents were asked to rank, whether the employee welfare measures work for the

betterment of the organization.

Ran (

!iew(# $ % " 9

a= To improve efficiency of the

employees--N /-N *;N /N ;N

b= To build up the organization ;N #/N /-N *-N *;Nc= To achieve only tangible and

temporary benefits/N 7N #;N *;N 2;N

d= To retain skilled employees /N *-N #;N /-N *;Ne= To built up human assets and

employee loyalty to achieve the

long"term goals

2;N #-N #7N #;N ;N

*8


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43%

20%

4%0%

43%

23% 20%

10%

60%

23%

43%

60%

13% 17%

10%

0%

33%

0%

14%4% 7%

20%

4% 10%

20%

0%

10%

20%

30%

40%

50%

.0%

/0%

1 2 3 4 5

R!nks

% o

f R e s p o n

d e n

t s

a

bcde

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


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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.

73%

20%

0%

20%

30%40%

50%

.0%

/0%

0%

1 True

2 True to someextent

3 Not oss!ble atall

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

S NO !IEW J OF RESPON3ENTS# True 7-N* True to some extent *;N- ot possible at all 7N/ ot possible without employee will to excel ;N

-;


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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 therespondents 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.

-#


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10%

0%0% 3%0%

10%7%0%

90%

0% 0%

57%

37%

3%

33%

50%

7%

43%43%

7%

0%

10%

20%

30%

40%

50%

.0%

/0%

0%

0%

100%

S a t i ( f i e d

S a t i ( f i e d t

o C a n n

o t ( a .

3 i ( ( a t i ( f i e d t o ( o

) e e F t e n t

T o t a . 3

i ( ( a t i ( f i e d

Loan

Faci itie(

Medica

@enefit(

Ot0er

@enefit(

Cenera

Faci itie(

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.

Sc0e)e( Sati(fied

Sati(fied to

So)e e tent Cannot (a.

3i((ati(fied to

(o)e e tent

Tota .

3i((ati(fiedoan @acilities 9;N #;N ;N ;N ;N

(edical enefits -7N 17N ;N -N -N4ther enefits 1;N --N 7N ;N #;NKeneral @acilities /-N /-N 7N 7N ;N

-*


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=* Tit e: Sen(e of Securit.

$hen respondents are enquired that whether these welfare measures provide sense of security,

the following responses were observed.

S NO !IEW J OF RESPON3ENTS# Mes 8;N* (ay e *;N- o ;N

--


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'ense of 'e rit20%

$0%

0%

Yes

ay &e

No

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.

EducationaA owance Sati(fied

Sati(fied toSo)e e tent Cannot (a.

3i((ati(fied toSo)e e tent


Tota .3i((ati(fied

For c0i dren --N -7N 7N #-N #-N #;NFor (e f

education *7N /;N #;N #;N #;N #-N

-/


35/53

33%37%

7%13%

27%

40%

10%10%13%

10%

0%5%

10%15%20%25%30%

35%40%45%

)or hildren )or self ed !tion

0atisfied

0atisfied to someextent

3annot say

Dissatisfied tosome extent

Totallydissatisfied

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 e tent

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( Ye( Ma. be No!ducational leave for self -;N --N -7N

@or self education 2;N *-N #7Noan for dependents 8;N 7N #-N

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#d !tion!l ,o!ns

60%

23% 17%30% 33%

37%

$0%

7% 13%

0%

20%

40%

.0%

0%

100%

es 6! be &o

'or sel( educat!on

)ducat!onallea*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.

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#>* 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.

-;N

1/N

-N

#;N

-N

/7N

1;N

-N

;N;N

--N

17N

7N

-N;N

-N7N

-;N

*7N

--N

-N

#;N

*7N

--N

*7N

*7N

1;N

#-N

-N7N

*;N

-;N

*/N

#-N

#-N

*-N

*-N

*7N

#7N

#;N

J o

f R e ( , o n d e n

t (

Sc0e)e(

Medica A((i(tance Sc0e)e(

Totally-!ssat!s(!ed

-!ssat!s(!ed tosome extent

.annot say

/at!s(!ed tosome extent

/at!s(!ed

Inference: (ost of the respondents are satisfied to some extent with the 6ospitalization

expenses for self and for dependents, (edical aid, and Transit 6omes, while some of the

respondents are satisfied with the (edical aid on 5etirement and hospitalization expenses for

self after 5etirement, while some dissatisfied with the (edi"claim insurance card for self and

for dependents.

Inter,retation: 17N of the respondents are satisfied to some extent with the 6ospitalization

expenses for dependents, 1;N with the 6ospitalization expenses for self, 1/N with the

(edical aid, 1;N with the Transit home and -;N with the (edical aid on retirement, where as

*-N of the respondents are satisfied with the 6ospitalization expenses for self after

Medica Faci itie(0atisfied

0atisfied to0ome!xtent

3annot0ay

Dissatisfied tosome extent

TotallyDissatisfied

a= (edical aid as a lumpsum amount -N 1/N -N #;N -N

b= 6ospitalization!xpenses for self /7N 1;N -N ;N ;N

c= 6ospitalization!xpenses for dependents --N 17N 7N -N ;Nd= (edi"3laiminsurance card for self -N 7N -;N *7N --N

e= (edi"3laim insurancecard for Dependents -N #;N *7N --N *7N

f= Transit homes forother places while in(edical treatment

*7N 1;N #-N -N 7N

g= (edical aid on5etirement *;N -;N */N #-N #-N

h= 6ospitalization!xpenses for self after5etirement

*-N *-N *7N #7N #;N

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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

$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 I #"* -"/ 'bove / Total

M!0 ;N *;N -/N ;N 1/N 4 -N *;N *;N -N /2N

T4T' -N /;N 1/N -N #;;N

0%

20%

34%

0% 3%

20% 20%

3%

0%

5%

10%

15%

20%

25%30%

35%

#' &(

6edi !l Risk for ependents

N +

1 to 2

3 to 4

bo*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

Inter,retation: 1/N of the respondents agreed that the medical risk for his?her family iscovered with the available facilities where -/N of the respondents are having dependents

between - / and *;N of the respondents are having # * dependents, while /2N of the

respondents are not agreed with this where *;N of the respondents are having # * and - /

dependents.

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39/53

#$* 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(

/-N47%

3% 7%

0%

8;N

17%

0%

30%

0%

#-N11%

10%

23%

37%//N

30%

6%

10% 10%

>J

#>J

$>J

%>J

">J

9>J

;>J

=>J

8>J

a b c d

/at!s(!ed

/at!s(!ed to/ome extent

.annot say

-!ssat!s(!ed to/ome extent

Totally-!ssat!s(!ed

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 constructionof 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

+ou(in2 faci itie( Sati(fiedSati(fied toSo)e e tent

Cannot(a.


Tota .3i((ati(fied

a* Pa.)ent of+RA

/-N /7N -N 7N ;N

b* +ou(in2 Loan( 8;N #7N ;N -;N ;Nc* Pro'idin2 banKuarter(

#-N ##N #;N *-N -7N

d* Rei)bur(e)entOf rent

//N -;N 2N #;N #;N

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63%

17%

0%

17%

3%

0%

10%

20%

30%

40%

50%

.0%

/0%

% of respondents

1 '!tisfied

2 '!tisfied tosome e$tent

3 *!nnot s!

4 &ot s!tisfied

5 iss!tisfiedto somee$tent

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.

S NO !IEW J OF RESPON3ENTS# 0atisfied 2-N* 0atisfied to some extent #7N- 3annot say ;N

/ ot satisfied #7N1 Dissatisfied to some extent -N

/#


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#9* Tit e: Canteen Faci itie(

$hen respondents were enquired about their views pertaining to canteen facilities, the

following responses are observed.

3%

30%

60%

7%

0%

10%

20%

30%

40%

50%

60%

% ' )/ N-)NT/

*!nteen )! ilities

1 )xcellent

2 ood

3 *era e

4 Not ood

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 andsome 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.

S NO !IEW J OF RESPON3ENTS# !xcellent -N* Kood -;N- 'verage 2;N/ ot Kood 7N

/*


43/53

#;* Tit e: enera 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.

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

90%

10%

1 Y)/

2 N

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)ent

$hen the respondents are enquired about the welfare and social measures conveyed by the

S NO !IEW J OF RESPON3ENTS# M!0 9;N* 4 #;N

/-


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management, the following responses are observed.

0%

77%

23%

0%

10%

20%

30%

40%

50%

.0%/0%

0%

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

"re!t #$tent

'!tisf! tor

,imited#$tent

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 J OF RESPON3ENTS# 0ufficient 8;N

S NO !IEW J OF RESPON3ENTS# Kreat !xtent ;N* 0atisfactory 77N- imited !xtent *-N

//


45/53


46/53

53%

0%

47%

0%

10%

20%

30%

40%

50%

.0%

% () R#' (& #& '

er!od!cally

Ne*er

nly on're uent

e uests

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 Interpretation#. $orking 'tmosphere 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


47/53

*. o of employees aware

of facilities

7-N of the sample respondents felt that they are

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

and 6ousing facilities./. $elfare measures for the

betterment of the organization

(ost of the respondents ranked, to achieve only

tangible benefits and to built up human assets

while some of the respondents ranked, to improve

efficiency of employees.1.(otivation of employee through

employee welfare measures

(ost of the respondents felt that employee

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

employee welfare measures

(ost of the respondents are satisfied with the

loan facilities and (edical facilities and some ofthe 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.

/7


48/53

9. !ducational loans provide byank

(ost of the respondents agreed that they are

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?herfamily covered by ank

(ost of the respondents having - / and # *

dependents agreed that the (edical risk for

his?her family is covered with the available

facilities.#*. 6ousing @acilities (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 provided by ank.

(ost of the respondents are satisfied to some

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.

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49/53

#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 measuresconveyed by management

(ost of the respondents agreed that the $elfareand social measures conveyed by the

management are to the great extent.

#8. !ffectiveness of $elfaremeasures

(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 measuresare periodically reviewed.

(ost of the respondents agreed that these $elfaremeasures are periodically reviewed where as

some of the respondents agreed these $elfare

measures are reviewed only on frequent requests.

Conc u(ion(

/9


50/53

1;


51/53

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.

1#


52/53

6ospitalization bills in total to be reimbursed.

5eimbursement of expenses and grant of incentives 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 seatsin 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 staff

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

1*


53/53

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Employee-Welfare by Central Bank of India

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Transcript of Employee-Welfare by Central Bank of India