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A STUDY ON EMPLOYEE WELFARE
MEASURES WITH REFERENCE TO STAR
HEALTH AND ALLIED INSURANCE CO LTD
PROJECT REPORT
Submitted by
Register No: 009
in partial fulfillment for the award of the degree
Of
MASTER OF BUSINESS ADMINISTRATION
In
DEPARTMENT OF MANAEMENT STUDIES
ALLIED BUSINESS SCHOOL
IND ! 09
1
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Department of Management studies
PROJECT WOR"
This is to certify that the project entitled
A STUDY ON EMPLOYEE WELFARE MEASURES WITH
REFERENCE TO STAR HEALTH # ALLIED INSURANCE CO LTD
is the bonafide record of project work done by
JJ
Register No: 009
of MBA (DEA!TME"T #$ MA"A%EME"T &T'DE&)
during the year *+,,-*+,,.
--------------------- -------------------------
roject %uide /ead of the Department
&ubmitted for the roject 0ia-0oce e2amination held
on3333333333
----------------------- ---------------------
nternal E2aminer E2ternalE2aminer
*
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DECLARATION
affirm that the project work title A STUDY ON EMPLOYEE WELFARE
MEASURES WITH REFERENCE TO THE STAR HEALTH AND
ALLIED INSURANCE CO LTDbeing submitted in partial fulfillment for
the award of MASTER OF BUSINESS ADMINISTRATIONis the original
work carried out by me. t has not formed the part of any other project work
submitted for award of any degree or diploma4 either in this or any other
'niersity.
55
certify that the declaration made aboe by the candidate is true
Le$t%rer
De&'rt(e)t o* Mgt+
6
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CONTENTS
C,'&ter
No
Des$ri&tio) P'ge No-
Abstract i
7ist of Tables ii
7ist of 8harts i2
1 1. ntroduction
1.1 About the study
1.* About the ndustry
1.6 About the company
1
*
9
:
* *. Main theme of the project
*.1 #bjecties of the study
*.* &cope and 7imitations
*.6 Methodology
*.; !eiew of 7iterature
1 nterpretation *;
; ;. $indings4 !ecommendations and 8onclusion
;.1 $indings
;.* !ecommendations
;.6 8onclusion
91
9*
99
9=
< Appendices 9:
9 Bibliography =*
;
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ABSTRACT
resent project study is on Employee welfare measures with
reference to the &tar /ealth and Allied nsurance 8o. !apid industriali?ation
and economic growth has resulted in the rise of great "o. of. ndustries4 a
large workforce and new industrial society. These factors hae considerable
bearing on the growth of lab our monument. The ideal of a welfare state has
added new dimensions to the 7abor @elfare &erice for their proper
understanding and appreciation.
There is growing awareness in the industrially deeloped and
deeloping countries as to need hae selected this topic to make an effort to
assess the e2isting 7abour facilities being followed in &tar /ealth > Allied
nsurance 8ompany ltd a model priate sector undertakings4 and to gauge the
e2tent of the awareness and leels of appreciation among these welfare
measures.
$irst chapter includes the introduction to the study4 needs for the
study of the employee welfare measures in the company.The company profile
e2plains the arious features of the company like its present status in the
market4 the history and product details.
The second chapter includes objecties4 research methodology and
analysis. The study is conducted for some specific purpose termed as
objecties. This chapter contains the scope and limitations of the study. The
research methodology part contains the research design and the tools used for
analysis. The analysis and interpretation part contains the four statistical tools
like A"#0A4 8hi suare4 8orrelation analysis4 &imple percentage and
@eighted Aerage.
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LIST OF TABLES
Table
"oTAB7E TT7E
age
"o
6.1 Age wise classification of respondents * Allied nsurance 7td were taken
as sample. &o it cannot be generalised.
;-< RESEARCH METHODOLOY
RESEARCH DESIN
*
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The research design is the basic framework of a plan for a study that
guides the collection of data and analysis of data. The design may be a specific
presentation of the arious steps in the process of research. These steps
include the selection of research problem4 presentation of the problem4
formulation of the hypothesis4 methodology4 surey of hypothesis4
interpretation and report writing. n this market surey the design used is
Descriptie !esearch.
DESCRIPTI/E RESEARCH METHOD
The main purpose of descriptie research is to descriptie the state
of iew as it e2ist at present. &imply stated4 it is a fact finding inestigation. n
descriptie research4 definite conclusions can be arried at4 but it does not
establish a case and effect relationship. This type of research tries to
descriptie the characteristic of the respondent in relation to a particular
product.
SAMPLIN METHOD
The researcher made use of probability sampling method in this study.
n this research the researcher has used simple random sampling. n simple
random sampling4 eery unit in the population has eual chance for being
selected as a sample.
TOTAL POPULATION
The total number of employees in the company is Allied
nsurance 7td..
MET/#D& #$ DATA 8#77E8T#"
Pri('r6 D't'
*9
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The data directly collected by the researcher4 with respect to the
problem under study4 is called as primary data. t is also known as !aw data.
The methods used to collect primary data were Nuestionnaire
method4 Direct personal nteriew.
Se$o)5'r6 D't'
&econdary Data were collected from official documents4 like annual
report of the company4 #fficial web site and other bulletin like !B bulletin.
SAMPLIN DESIN
A sample is a small representation of a large population. @hen some
of the elements are selected with the intention of finding out something about
the population from which they are taken4 that group of elements is referred as
a sample4 and the process of selection is called sampling.
SAMPLIN UNIT.
The respondents of the study are the employees of &tar /ealth >
Allied nsurance 7td ..Each respondent is considered to be the sampling unit.
T##7& $#! A"A7&&
Per$e)t'ge ')'16sis
C,i!s>%'re test
Corre1'tio)
ANO/A
Weig,te5 A2er'ge Met,o5
SIMPLE PERCENTAE METHOD
&imple percentage refers to a special kind of ratio. @ith the help
of absolute figures it will be difficult to interpret any meaning from the
*=
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collected data4 but percentage are find out it becomes easy to find out the
relatie difference between two or more attributes.
"umber of !espondents
ercentage of !espondents O 2 1++
Total respondents
CHI! S?UARE TEST
8hi-&uare test is an important test among the seeral test of
significance. 8hi- &uare symbolically written as pronounced as FiP . t is a
statistical measure used in the conte2t of sampling analysis for comparing a
ariance to a theoretical ariance. 8hi- &uare test enables to e2plain whether
or not two attributes are associated.
/o O "ull /ypothesis
The hypothesis to be tested is usually referred to ass "ull hypothesis.
/1 O Alternatie /ypothesis
f /o is rejected it means that the data on the hand are not compatible with the
null hypothesis /o but are comparable with some other hypothesis4 this is the
Alternatie hypothesis
8hi- &uare is calculated as follows4
. QQ (#ij G Eij)P
O
Eij
#ij O #bsered freuency of the cell in the th row and j th column.
Eij O E2pected freuency of the cell in the i th row and j th column.
As a non parametric test it can be used to determine a categorical
data. t is used to make comparison between theoretical population and actual
data. Degree of freedom plays an important part in using the 8hi- &uare
distribution and tests are based on it. The degree of freedom is worked out as
follows.
Degree of $reedom O (!-1) 2 (8-1)
@here4# O #bsered freuency
E O E2pected freuency
! O "umber of rows
8 O "umber of columns
*:
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ANO/A 8A)'16sis o* /'ri')$e
ANO/A test
Analysis of ariance is a techniue used to test euality of means4 when
more than two poulations are considered. n one way A"#0A4 the
obserations are classified according to the factors.
&& between O (QiO1n1(21G2)*Rn*(2*G2)
*Rn(26G2)*Rn;(2;G2)
*)
&&within O Q( 21jG21)*RQ( 2*jG2*) RQ(26jG26)
*RQ(2;jG2;)*)
Weig,te5 A2er'ge
@eighted aerage is used to draw a single number around which the
greatest proportion of the data concentrates.
f 214 2*4 264 2;4 2
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8oncept 7abour is interrupted in numerous ways4 due to the
ariability of social institution4 degree of industriali?ation4 and the leels of
social and economic deelopment in different places and different times
conseuently4 the concept of labour welfare also is approachable from many
angles. As the concept is relatie to the labour and place and the changes in
the economic and scientific enironment4 different persons and bodies define
it in different ways.
CONCEPT OF LABOUR WELFARE:
As pointed out earlier4 the concept of welfare can be approached
from arious angles4 as it is related to the workers4 place and changes with
the economic and scientific adancement in a country it is also a relatie
concept. Many theories hae been outlined.
The $unctional Theories
!eligious Theories
olicy Theories
ublic !elation Theories
hilanthropic Theories
Trusteeship Theories
L'o%r We1*'re i) I)5i'
Arti$1e
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a.That the citi?ens4 men and women eually hae the right to an
adeuate means of 7ielihood.
b. That the ownership and control of the material resources are so
distributed also sub sere the common good
c. That the operation of the economic system does not result in the
concentration of wealth and means of production to the common
detriment.
d. That there is eual pay for eual work for both men and women.
e. That the health and strength of workers4 men and women4 and the
tender age of children are not abused and the citi?ens are not forced
by economic necessity to enter a ocation unsuited for their age of
strength.
Arti$1e @.:!
The state shall within the limits of its economic capacity and
deelopment make effectie proision for securing the right to work4
to education and to public assistance in cases of under sered wants.
Arti$1e @;:!
The state shall make proision for securing just and human conditions
of work and for maternity relief.
Arti$1e @
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Rese'r$, St%5ies U)5ert'e) i) t,e Are' O* L'o%r We1*'re Me's%res
The study4 by 5uliette &ummers ('niersity of &tirling) and 5eff /yman
('niersity of Aberdeen) concludes that combinations of participation and
welfare measures (such as eual opportunities and family-friendly policies)
appear to enhance both organisational performance and the uality of working
life. olicy support should focus on union recognition and actiity within a
human rights framework4 since this can positiely influence employeesH
behaiour towards organisational goals and employer behaiour toward their
employees.
A major research theme relates the changing nature of work and
workplaces4 including trends such as job insecurity4 work intensification and
long working hours (Brannen and Moss 1CC:J Burchell4 7adipo et al. *++*J 7a
0alle4 Arthur et al. *++*) and the long hours culture in many occupations
(Bond4 /yman et al. *++*J 8rompton4 Dennett et al. *++6). Although
occupational and work-family stress has been addressed since the 1C:+s4 there
has been a recent resurgence of interest in stress4 relating to these changes in
the nature of work (Brannen and Moss 1CC:J Burchell4 7adipo et al. *++*J 7a
0alle4 Arthur et al. *++*J eandle4 @igfield et al. *++*)
6*
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8/ATE! 6
A"A7&& A"D "TE!!ETAT#"
T'1e
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8hart6.1
Table6.*%E"DE! @&E 87A&&$8AT#" #$ T/E !E"DE"T&
%ender "o. #f !espondents ercentage
Male 16; 9=
$emale 99 66
Total *++ 1++
6
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t o* t,e res&o)5e)ts o* St'r
He'1t, ')5 A11ei5 I)s%r')$e Co-Lt5 is ('rrie5 ')5
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INTERPRETATION
$rom the aboe table it is interpreted that 9+L of the workers are management
professional4*9L are front office staff4 *
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
According to the aboe table 6+L of the respondents are haing the salary
below
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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0
5
10
15
20
25
30
Hi!l"
#a$i&ied
#a$i&ied Modera$el"
#a$i&ied
'ia$i&ied Hi!l"
'ia$i&ied
T'1e
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')5 @ 're ,ig,16 5iss'tis*ie5 6 t,e 1e'2e *'$i1it6-
8hart6.C
T'1e
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t %i&(e)t *'$i1ities-
&afety Euipment $acility "o. #f !espondents ercentage
/ighly &atisfied 9+ 6+
&atisfied
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8hart6.1*
T'1e
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t @ o* t,e res&o)5e)ts *ee1e$e11e)t i) $'se o* re1'tio) s,i& it, t,e s%&erior+ ; *ee1 s'tis*'$tor6+
;; *ee1 goo5 ')5 t,e 1e'st ; *ee1 &oor re1'tio) s,i& it, s%&erior-
8hart6.1;
!elationship with &uperior "o. #f !espondents ercentage
E2cellent C9 ;:
&atisfactory
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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RESPONDENTS OPINION ON POLICY AND ADMINISTRATION
Table6.1=
olicy and Administration "o. #f !espondents ercentage
/ighly &atisfied =* 69
&atisfied ;; **
Moderately &atisfied
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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T'1e
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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T'1e
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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T'1e
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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INTERPRETATION
Fro( t,e 'o2e t'1e it is i)ter&rete5 t,'t
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Table6.*:
CHI S?UARE TEST FOR SINIFICANCE
/o There is no significant difference between category of workers and their
relationship with superiors.
/1 There is a significant difference between category of workers and their
relationship with superiors.
Degree of freedom O (!ow G 1) 2 (8olumn G 1)
O (; G 1) 2 (; G 1)
8ategory E2cellent &atisfactory %ood oor Total
Management
rofessional *: 1= 1+ < 9+
$ront office
&taff *+ 1= 1; <
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O 6 2 6
O C
7eel of significance O
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Table6.*C
CHI S?UARE TEST FOR SINIFICANCE
/o There is no significant difference between category of workers and
working of trade union.
/1 There is a significant difference between category of workers and
working of trade union.
8ategory E2cellent &atisfactory %ood oor Total
Management
rofessional
6; 1+ 11 < 9+
$ront office
&taff
19 1= 1; <
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$rom the chi G suare test we get there is no significant difference
between category of workers and the trade policy.
T'1e
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O1:.69
ANO/A TABLE
&ources of
ariation
&um of suares Degrees of
freedom
Mean suares $
Between
columns
:1; ; *+6.< $8O*+6.
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T'1e
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I)ter&ret'tio)
!ank1 O$estial Allowance
!ank* OBonus
!ank6 O/!A
!ank; OE&
!ank< OTA
!ank9 Oroident fund
I)*ere)$e
The weighted aerage findings shows that $estial Allowance and Bonus is
ranking first and second offered by the company. /!A and E& is ranking
third and fourth respectiely. #n the other hand4 roident $und is the last.
=:
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T'1e
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CHAPTER 4
:+
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FINDINGS,RECOMMENDATIONS
CONCLUSION
CHAPTER @
@-. FINDINS
It 's *o%)5 t,'t t,e ('7orit6
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6e'rs ')5 . o* t,e res&o)5e)ts 're ,'2i)g (ore t,') .. ')5
'o2e . 6e'rs o* e&erie)$e-
t was found that 9+L of the workers are management
professional4*9L are front office staff4 *
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%i&(e)t *'$i1ities
!egarding safety euipment facilities4%i&(e)t *'$i1ities
t is proed that
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The study reeals that
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t was found that
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consider this and necessary arrangements should be made to proide adeuate
facilities to improe the efficiency of the workers.
@e can also understand from the findings that thereare few employees not being satisfied with the medical facilities
aailable in the organi?ation. The management should pay kind
attention in this regard to improe the medical facilities.
The management shall adopt appropriate
communication system to ensure that all the future plans and
company policies being reached to all the employees in the
organi?ation.
The management should take appropriate action to
improe the transportation facilities as some of the employees are
dissatisfied by the transportation facilities proided by the
organi?ation.
The company can also establish a council constituting
of members from all the departments to deice the welfare measures
and to make the employees much more satisfied.
7ibrary facility should be proided to the employees
for improing their knowledge.
The company should proide necessary lunch room
and rest room facilities to all the employees since some employees
are highly dissatisfied by the rest room facilities..
@-< CONCLUSION
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The researcher is benefited with the study4 because the topic will help the
management to get an effectie feedback from the employees about the employee
welfare measures preailing in the organi?ation.
t also proides researcher an opportunity to e2pose with functions of the
human resource department and able to well ersed with statutory and non statutory
welfare measures adopted in the organisation.
The study proides arious suggestions to the management including
arious welfare measures to enhance leel of satisfaction of employees in the
&TA!/EA7T/ A"D A77ED "&'!A"8E 8o.7TD4 .
At the same time employees got opportunity to e2press their iew about
arious components of the satisfaction leel preailing in &TA!/EA7T/ A"D
A77ED "&'!A"8E 8o.7TD4 .
t is also e2pected that improement will be made and appropriate actions
will be taken based on the suggestions and opinions gien by the respondents and
researcher.
:=
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APPENDIX
?UESTIONNAIRE
::
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A St%56 o) E(&1o6ee We1*'re Me's%res it, Re*ere)$e to St'r ,e'1t,
A)5 A11ie5 I)s%r')$e Co-Lt5
1. "ame
*. Age
6. &e2 Male $emale
;. Marital &tatus
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/ighly satisfied &atisfied Aerage
Dissatisfied /ighly dissatisfied
1;. &uggest your opinion of safety euipments proided in the
organi?ationU
/ighly satisfied &atisfied Aerage Dissatisfied
/ighly dissatisfied
1
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$
/!A
$estial Allowance
TA
E&
*+.Tick your satisfaction regarding the welfare measures in the following table
@elfare
Measures /ighlysatisfied
&atisfied Moderatelysatisfied
Dissatisfied
0entillation
Temperature
&eating arrangement
7ighting
&pace for working
BIBLIORAPHY
1. /uman !esource Management (1*thEdition) by 8.B.Mamoria.
*. /uman !esource Management (:th Edition ) by %ary Dessler.
6. /uman !esource Management ( 9thEdition) by Daid. A . Decen?o > &tephen.
.!obbins.
;.!esearch Methodology (
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