ACKNOWLEDGEMENT
This work is deemed incomplete without acknowledging the various individuals immensely
instrumental in ushering a great deal of effort, time and individual guidance. I would like to
thank to my academic supervisor Dr. Pooja, Assistant Professor, University College of
Commerce and Management, Guru Kashi University for her constant support and encouragement
to carry out this innovative work. I will always be thankful to her for wisdom, awareness and
deep concern for me. Her liberal attitude, unwavering support, painstaking attention and
direction guide me for my research work.
I would also like to thanks Dean, University College of Commerce and Management, for his
support and directions. I would also like to sincerely thank to Vice Chancelor, Guru Kashi
University for giving me the opportunity to join his group and helping me to achieve one of the
major milestones in my life. Additionally, I would like to thank to Dean Research and all DRC
members, who have taken interest in my work, insightful comments and probing questions that
helped to improve the contents and clarity of this dissertation.
I am warmly indebted to Dr. Kanwaljit Singh, Deputy Dean Research, for his valuable advice,
support and guidance which helped me to accomplish this thesis.
I would also like to extend my heartfelt and sincere gratitude towards my parents for their moral
support and encouragement which boosted me towards the completion of this project work. I am
indebted to my grandparents as their blessings helped me to accomplish this thesis. I also express
my gratitude for my husband, Mr. Gaganpreet Singh who always supported me during my whole
research. Last but not least, I am also thankful to my son “Fateh” whose unconditional love has
been my greatest strength.
Finally, my greatest regards to the almighty for bestowing upon me the encouragement to face
the complexities of life and complete this project successfully. As their goes a possibility of
unintentional skipping of some names, I must owe a responsibility for the same and straight way
thanks all those who provide direct or indirect help in completion of this research work.
NAYANPREET KAUR
ii
ABSTRACT
Employee is considered as the chief organ of organizational productivity. The ability of the
organization in achieving higher position in terms of productivity and profitability highly
depends on its employees. Effective management and welfare of employees plays an important
role in reaching the desired goals of the organization. Therefore, it is very necessary to seek the
co-operation and loyalty of the employees in order to increase the production and to increase the
market share.
The Co-operation and support of employees is possible only when they are fully satisfied with
their employer and the working conditions on the workplace. For this purpose, provision of
better conditions of work like suitable temperature adequate lighting and in general a pleasant
atmosphere is very necessary to get them to realize that the management thinks of their welfare.
Such welfare activities benefit not only the employees but also the management in the form of
the greater productive efficiency. Today progressive managers realize that these welfare facilities
pay a good divided in the long-run, for they contribute in a large degree towards the health and
efficiency of the workers and towards a high morale. Employee welfare defined as efforts to
make life worth living for workmen. Employee welfare entails all those activities of employer
which are directed towards providing the employees with certain facilities and services in
addition to wages or salaries.
The employees of the organization need continuous encouragement not only in the form of
1monetary benefits but also welfare measures. Welfare measures largely influence the
employees‟ commitment to the organizational goals. The author opined that by imparting various
welfare measures to employees will have a definite impact on achieving growth in output.
Hence, in view of this scenario, the present research study concentrates on a study of employee
welfare activities in insurance and banking sector in Punjab. Further, the study describes
employee perception in improvement of performance of employees in insurance and banking
sector. The study also explains the problems involved in implementation of welfare activities by
the management.
Chapter one comprises with the meaning of employee welfare activities and further it explains
the need of welfare activities in India. It also describes about types, theories, principles and
iii
agencies involved in employee welfare activities. Further, it also explains about history of
banking and insurance in brief. Chapter two summarizes key contribution of significant previous
studies, articles and defines Research gap.
Chapter three describes the research methodology. The chapter also covers significance of the
study, Research Problem, Research Objectives, Hypothesis of Research, Research Design,
Sample Design, Sample Size, Method of Collection and Data Analysis Techniques used in the
Study. Further, it describes demographic analysis on the basis of gender, age, marital status,
education, experience.
Chapter four covers data analysis and interpretation of various aspects related with employee
welfare activities. The tools such as descriptive statistics and T-test analysis are used to draw
conclusion. Chapter five describes findings and conclusions. It also shares suggestions and
further scope for further study.
iv
TABLE OF CONTENTS
Chapter
Description
No.
Page No.
Candidate‟s Declaration
i
Acknowledgement
ii
Abstract
iii-iv
Table of Contents
v-ix
List of Tables
x-xv
List of Figures
xvi-xx
List of Publications
xxi
List of Paper Presented
xxii
Introduction
1-26
1.1
History of Employee Welfare Activities in India
1-2
1.2
Some Acts Governing Various Aspects of Employee Welfare
2
1.3
Meaning of Employee Welfare Activities
3
1.4
Definition of Employee Welfare
4
1.5
Features of Employee Welfare Activities
4-5
1.6
Importance of Employee Welfare Activities
5
1.7
Theories of Employee Welfare Activities
5-6
1.8
Advantages of Employee Welfare Activities
7-9
1.9
Disadvantages of Employee Welfare Activities
9-10
Chapter 1
v
1.10
Scope of Employee Welfare Activities
10
1.11
Employee Welfare Agencies in India
11
1.12
Principles of Employee Welfare
12-13
1.13
Statutory and Non-Statutory Employee Welfare Schemes
14
1.14
Types of Employee Welfare Activities
14-15
1.15
Need for Employee Welfare Activities in India
15-17
Necessity of Employee Welfare Activities in India than in Other
1.16
1.17
Countries
17
Welfare Initiatives by Private Sector Organisations
18-19
List of Current Employee Welfare Schemes Offered by Government
1.18
of India
20
1.19
Banking System In India
20
1.19.1
Phases of Indian Banking System
20-21
1.20
History of Insurance In India
21-22
References
23-26
Review of literature
27-67
2.1
Introduction
27
2.2
Various Studies Relating to Employee Welfare Activities
27-53
2.3
Research Gap
54
References
55-67
Research Methodology
68-85
Introduction
68
Chapter 2
Chapter 3
3.1
vi
3.2
Significance of the Study
68
3.3
Statement of the Problem
69
3.4
Objectives of the Study
69
3.5
Hypotheses of the Study
69
3.6
Research Design
69-70
3.7
Scope of the Study
71
3.8
Sampling Design
71
3.9
Sample Size
72
3.9.1
Classification of Sample Size
72-74
3.10
Data Collection Method
74
3.11
Measuring Instrument for the Present Study
75
3.11.1
Details of Instrument Used
75-76
3.11.2
Reliability Test of an Instrument
76
3.12
Pilot Study
77
3.13
Tools used In Data Analysis
77
3.14
Demographic Details of the Respondents
77
3.14.1
Sector of Respondents
77-78
3.14.2
Gender of Respondents
78-79
3.14.3
Age of Respondents
79-80
3.14.4
Qualification of Respondents
81-82
3.14.5
Marital Status of Respondents
82-83
3.14.6
Experience of Respondents
83-84
vii
3.15
Limitations of the Study
84
3.16
Outline of the Study
85
Chapter 4
4.1
Data Analysis and Interpretation
Introduction
86-190
86
Frequency Distribution of various activities involved in employee
4.2
welfare
87-106
Group Statistics of various activities involved in employee welfare in
4.3
the insurance and banking sector
107-111
T-Test and Levene‟s Test of various activities involved in employee
4.4
welfare in the insurance and banking sector
111-119
Frequency Distribution of employee perception in the improvement
4.5
of their performance regarding welfare activities in the insurance and
119-139
banking sector
Group Statistics of employee perception in the improvement of their
4.6
performance regarding welfare activities in the insurance and
140-145
banking sector
T-Test and Levene‟s Test of employee perception in the
4.7
improvement of their performance regarding welfare activities in the
145-155
insurance and banking sector
Frequency Distribution of problems faced by management in the
4.8
formulation of welfare activities in the insurance and banking sector
156-176
Group Statistics of problems faced by management in the formulation
4.9
of welfare activities in the insurance and banking sector
T-Test and Levene‟s Test of problems faced by management in the
formulation of welfare activities in the insurance and banking sector
viii
177-181
4.10
Chapter 5
182-190
Findings, Conclusion and Suggestions
191-205
5.1
Introduction
5.2
Findings
191-202
5.3
Conclusion
202-203
5.4
Suggestions
203-204
5.5
Further Scope
205
Bibliography
206-222
Appendix (Questionnaire)
223-231
191
ix
LIST OF TABLES
Table No.
1.1
Description
Various Intra-mural and Extra-mural Activities
Page No.
15
Current Employee Welfare Schemes Offered by Government of
1.2
India
20
Research Design of present study titled „A Study on Employee
3.1
Welfare Activities in Insurance and Banking Sector in Punjab‟ in
70
detail
3.2
Classification of Sample Size of Management Professionals
73
3.3
Classification of Sample Size of Employees
74
3.4
Description of Items of Questionnaire
75
3.5
Reliability Statistics of the Instrument
76
3.6
Classification of Respondents on the Basis of Sector
77
3.7
Classification of the Respondents on the Basis of Gender
78
3.8
Classification of the Respondents on the Basis of Age
80
3.9
Classification of the Respondents on the Basis of their Qualification
81
Classification of the Respondents on the Basis of their Marital
3.10
Status
82
3.11
Classification of the Respondents on the Basis of their Experience
83
4.1
Housing Loan Facility
87
4.2
Conveyance allowance facility
88
4.3
Recreation activities
89
4.4
Financial rewards and bonuses
90
x
4.5
Seminars & trainings
91
4.6
Working environment
92
4.7
Overtime allowance
93
4.8
Leave policy
94
4.9
Regular increment policy
95
4.10
Job security
96
4.11
Drinking water facility
97
4.12
First-aid service
98
4.13
Toilet facility
99
4.14
Canteen facility
100
4.15
Maternity leave facility
101
4.16
Medi-claim insurance scheme
102
4.17
Sexual harassment policy
103
4.18
Working hours
104
4.19
Retirement benefits
105
4.20
Education loans for children
106
Group Statistics of various activities involved in employee welfare
4.21
in the insurance and banking sector
107-109
T-Test and Levene‟s Test of various activities involved in employee
4.22
welfare in the insurance and banking sector
112-117
Welfare activities helps employees in their career development with
4.23
improved performance
120
xi
Welfare activities helps employees to work diligently at your
4.24
workplace which tends to improved performance
121
Welfare activities helps in improving performance by reducing
4.25
extent of absenteeism
122
Welfare activities provides employees financial assistance which
4.26
improves their performance
123
Employee welfare measures improves performance by improving
4.27
standard of living of employees
124
Welfare activities improves employees performance by providing
4.28
safety and health benefits
125
Welfare activities improves their performance by developing
4.29
employees both economically and socially
126
Performance of employees is improved by welfare activities by
4.30
satisfying their primary needs
127
4.31
Welfare activities improves performance of employees by increasing
128
productivity
Welfare activities improves performance of employees by creating
4.32
good industrial human relations
129
Improved performance is achieved as organisation wins employees
4.33
loyalty by offering them welfare activities
130
Performance is improved as employees feel sense of security
4.34
through these welfare measures
131
4.35
Employee welfare activities helps in meeting performance targets
132
Employee welfare activities improves performance by improving
xii
4.36
physical and mental health of employees
133
Welfare measures helps in improving employees efficiency which
4.37
tends to improved performance
134
Welfare activities creates ability to suggest viable ideas to enhance
4.38
performance (innovation)
135
Does welfare measures helps employees to give good performance
4.39
by coping up with stress
136
Welfare measures improves performance by creating an ability to
4.40
plan and be able to undertake work in an organised manner while
137
identifying priorities
welfare measures creates ability to communicate effectively with
4.41
customers, peers, supervisors to enhance performance
138
Welfare activities helps to build human assets to achieve long term
4.42
goals by improved performance of employees
139
Group Statistics of employee perception in the improvement of their
4.43
performance regarding welfare activities in the insurance and
140-142
banking sector
T-Test and Levene‟s Test of employee perception in the
4.44
improvement of their performance regarding welfare activities in the
146-153
insurance and banking sector
4.45
There are not sufficient financial resources to provide these
157
employee welfare facilities
There are not appropriate policies to provide these employee welfare
4.46
activities
158
xiii
There is not proper implementation system of these welfare
4.47
measures
159
4.48
There is delay in decision for providing welfare activities
160
4.49
Welfare facilities not get approval from top management
161
4.50
Welfare activities are neglecting because of pressure of targets
162
Neglection of providing these welfare measures produce unhealthy
4.51
competition
163
There is no stress management committee to train employees to
4.52
cope up with stress
164
4.53
There is neglection from management as it increases cost
165
Incompetence of HR professionals in providing these welfare
4.54
measures
166
There is feeling of discrimination among the workers regarding
4.55
welfare activities
167
4.56
Welfare measures are not conveyed by management
168
4.57
Welfare activities are neglected because of high competition
169
Welfare activities are not provided because of incompetence of
4.58
employees
170
4.59
Time constraint comes across in giving these welfare activities
171
4.60
Welfare measures are not reviewed periodically by management
172
Rules and regulations of organisation prevents management in
4.61
taking decision regarding welfare activities
173
Welfare benefits are not given to workers as they are fail to achieve
4.62
their respective targets
174
xiv
4.63
Lack of strategic focus regarding welfare measures
175
Lack of timely and meaningful feedback from employees regarding
4.64
welfare measures provided
176
Group Statistics of problems faced by management in the
4.65
formulation of welfare activities in the insurance and banking sector
177-179
T-Test and Levene‟s Test of problems faced by management in the
4.66
formulation of welfare activities in the insurance and banking sector
xv
182-188
LIST OF FIGURES
Figure No.
Description
Page No.
3.1
Sector wise Classification of Respondents
78
3.2
Gender wise Classification of Respondents
79
3.3
Age wise Classification of Respondents
80
3.4
Qualification wise Classification of Respondents
81
3.5
Marital Status wise Classification of Respondents
82
3.6
Experience wise Classification of Respondents
83
4.1
Housing Loan Facility
87
4.2
Conveyance allowance facility
88
4.3
Recreation activities
89
4.4
Financial rewards and bonuses
90
4.5
Seminars & trainings
91
4.6
Working environment
92
4.7
Overtime allowance
93
4.8
Leave policy
94
4.9
Regular increment policy
95
4.10
Job security
96
4.11
Drinking water facility
97
4.12
First-aid service
98
4.13
Toilet facility
99
4.14
Canteen facility
100
xvi
4.15
Maternity leave facility
101
4.16
Medi-claim insurance scheme
102
4.17
Sexual harassment policy
103
4.18
Working hours
104
4.19
Retirement benefits
105
4.20
Education loans for children
106
Welfare activities helps employees in their career development
4.21
with improved performance
120
Welfare activities helps employees to work diligently at your
4.22
workplace which tends to improved performance
121
Welfare activities helps in improving performance by reducing
4.23
extent of absenteeism
122
Welfare activities provides employees financial assistance
4.24
which improves their performance
123
Employee welfare measures improves performance by
4.25
improving standard of living of employees
124
Welfare activities improves employees performance by
4.26
providing safety and health benefits
125
Welfare activities improves their performance by developing
4.27
employees both economically and socially
126
Performance of employees is improved by welfare activities by
4.28
satisfying their primary needs
127
Welfare activities improves performance of employees by
4.29
increasing productivity
128
xvii
Welfare activities improves performance of employees by
4.30
creating good industrial human relations
129
Improved performance is achieved as organisation wins
4.31
employees loyalty by offering them welfare activities
130
Performance is improved as employees feel sense of security
4.32
through these welfare measures
131
Employee welfare activities helps in meeting performance
4.33
targets
132
Employee welfare activities improves performance by
4.34
improving physical and mental health of employees
133
Welfare measures helps in improving employees efficiency
4.35
which tends to improved performance
134
Welfare activities creates ability to suggest viable ideas to
4.36
enhance performance (innovation)
135
Does welfare measures helps employees to give good
4.37
performance by coping up with stress
136
Welfare measures improves performance by creating an ability
4.38
to plan and be able to undertake work in an organised manner
137
while identifying priorities
welfare measures creates ability to communicate effectively
4.39
with customers, peers, supervisors to enhance performance
138
Welfare activities helps to build human assets to achieve long
4.40
term goals by improved performance of employees
139
There are not sufficient financial resources to provide these
4.41
employee welfare facilities
157
xviii
There are not appropriate policies to provide these employee
4.42
welfare activities
158
There is not proper implementation system of these welfare
4.43
measures
159
4.44
There is delay in decision for providing welfare activities
160
4.45
Welfare facilities not get approval from top management
161
4.46
Welfare activities are neglecting because of pressure of targets
162
Neglection of providing these welfare measures produce
4.47
unhealthy competition
163
There is no stress management committee to train employees
4.48
to cope up with stress
164
4.49
There is neglection from management as it increases cost
165
Incompetence of HR professionals in providing these welfare
4.50
measures
166
There is feeling of discrimination among the workers
4.51
regarding welfare activities
167
4.52
Welfare measures are not conveyed by management
168
4.53
Welfare activities are neglected because of high competition
169
4.54
Welfare activities are not provided because of incompetence of
170
xix
employees
4.55
Time constraint comes across in giving these welfare activities
171
Welfare measures are not reviewed periodically by
4.56
management
172
Rules and regulations of organisation prevents management in
4.57
taking decision regarding welfare activities
173
Welfare benefits are not given to workers as they are fail to
4.58
achieve their respective targets
174
4.59
Lack of strategic focus regarding welfare measures
175
Lack of timely and meaningful feedback from employees
4.60
regarding welfare measures provided
xx
176
LIST OF PUBLICATIONS
Title of Paper
Name of
Author as
Printed on
Title of
Paper
Role of Employee
Welfare Facilities
in Banking and
Insurance Sectors:
A Study of Punjab
Nayanpreet
Kaur
Employee
Perception
Regarding
Welfare Activities
Nayanpreet
Kaur
Dr. Pooja
Name of
Journal
Month/Year,
Volume no.,
Page.no.
Our
Heritage
Journal
January,
2020,
Impa
ct
Facto
r
ISSN
No.
UGC- CARE
6.3
0474-
22(1), 1479030
158.
Dr. Pooja
Journal of
Information and
Computational
UGC List
Sr. No.
Approved
Indexed and
Referred
Journal
2020,
1548-
UGC-CARE
13(8), 91-98.
7741
list group II
Journal
Science
xxi
LIST OF PAPER PRESENTED
Title of Paper
Identification of
Employee Welfare
Activities in Punjab
Employee Welfare and
Its Impact on
Employees
Performance
Name of Author
as Printed on
Title of Paper
Nayanpreet kaur
Nayanpreet Kaur
Name of Journal
Virtual International Conference
“Projection of Global Trends Post the
Pandemic Control”
International Conference on the Impact of
Globalisat ion on Economic Development,
Emerging Technology and Management
Science
xxii
Month/Y
ear
June,
2020
November,
2019