Final MBA Project - Employee Welfare Practice


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Final MBA Project - Employee Welfare Practice

  1. 1. A STUDY OF EMPLOYEE WELFARE PRACTICES ININDIAN RARE EARTHS LIMITED, CHAVARASubmitted in partial fulfillment for the requirement for the award of the degree ofMASTER OF BUSINESS ADMINISTRATIONM G UNIVERSITYKOTTAYAMSubmitted byAMPADY.SReg No:10111Under the guidance ofMRS: SUJITHA ANNIE KURIAN(Assistant Professor)Department of Management StudiesCaarmel Engineering CollegePerunad, PathanamthittaMay 2011
  2. 2. Caarmel EngineeringCollegeKoonamkara P.O, Perunad, Pathanamthitta District, Kerala State Pin 689711CERTIFICATEThis is to certify that the study report entitled „A Study ofEmployee Welfare practices in IREL Chavara is a bonafide record of thework done by Ampady.S under my guidance in partial fulfillment of therequirement for the award of Master‟s Degree in Business Administration byMahatma University and this work has not been submitted by him for the awardof any other degree, diploma, or title of recognition earlier.Dr. SELVADAS M.J Mrs. SUJITHA ANNIE KURIANDirector, Asst. Professor,Department of Management studies, Department of Management studies,Caarmel Engineering College, Caarmel Engineering College,Pathanamthitta PathanamthittaVIVA –VOCE HELD ON:………………………EXTERNAL EXAMINER
  4. 4. ACKNOWLEDGEMENTFirst of all I wish to express my deep gratitude and thanks to God whohelped us in completing the organisation study successfully.I shall remain grateful to Mrs.: Sujitha AnnieKurian, Faculty, MBA Department, Caarmel Engineering College for hisamble guidance and encouragement for completing the organisation study. I amalso extremely grateful to faculty member for their valuable suggestions andadvice regarding this work.I also express my profound gratitude to project guideMr: A.Jayapalan, Sr. Manager, HRM for his valuable guidance and timelyadvice and well wishers for encouragement given to us during the course of theproject.It is my pleasure to express a deep sense of gratefulto Mr. Ramachandran (Welfare), HR Department without his untiring effortsand tremendous background information this work would not have materialized.I express my sincere thanks to all the staff of IREL, Chavara for their co-operation during my study in the company.Last but not least we thank my parents and for all their moral supportand help, they had given to me.
  5. 5. DECLARATIONI declare that the project report entitled “Astudy on Employee Welfare practices of Indian Rare Earths Limited” Submittedby me for the award of Master of Business Administration of M.G University ismy own work. The report has not been submitted for the award of any otherdegree of this university or any university.Place: Kollam Ampady.SDate:
  6. 6. ABSTRACTEmployee Welfare is an important facetof industrial relations, the extra dimension, giving satisfaction to the worker in away which evens a good wage cannot. With the growth of industrialization andmechanization, it has acquired added importance. The workers in industrycannot cope with the pace of modern life with minimum sustenance amenities.He needs an added stimulus to keep body and soul together. Employers havealso realized the importance of their role in providing these extra amenities. Andyet, they are not always able to fulfill workers demands however reasonable theymight be. They are primarily concerned with the viability of the enterprise.Employee welfare, though it has been proved to contribute to efficiency inproduction, is expensive. Each employer depending on his priorities givesvarying degrees of importance to labour welfare. It is because the government isnot sure that all employers are progressive minded and will provide basicwelfare measures that it introduces statutory legislation from time to time tobring about some measures of uniformity in the basic amenities available toindustrial workers. After employees have been hired, trained and remunerated,they need to be retained and maintained to serve the organization better. Welfarefacilities are designed to take care of the wellbeing of the employees, they do notgenerally result in any monetary benefit to the employees. Nor are thesefacilities provided by employers alone. Governmental and non-governmentalagencies and trade unions too, contribute towards employee welfare.Employee welfare is a comprehensive term including various services, benefitsand facilities offered to employees by the employer. Through such generousfringe benefits the employer makes the life worth living for employees. Thewelfare amenities are extended in addition to normal wages and other economicrewards available to employees as per the legal provisions. Welfare measuresmay also be provided by the government, trade unions and nongovernmentagencies in addition to the employer. The basic purpose of employee welfare isto enrich the life of the employees and keep them happy and contended.
  7. 7. LIST OF CONTENTSSubjectPageNumberChapter 1Introduction 2Statement of the problem 3Scope of the study 3Objective of the study 4Limitations of the study 4Chapter 2Industry profile 5Company Profile 9Product Profile 14Customer Profile 16Functions of HR Department IREL 19Welfare activities of IREL 29Chapter 3Research Methodology 37Sampling Plan 38Literature review 39Theoretical background of employee welfare 41Chapter 4 Data analysis and inferences 49Chapter 5 Findings 81Recommendations 83Conclusion 84Annexure:QuestionnaireOrganisational Chart8588
  8. 8. LIST OF TABLESTable No SubjectPageNumber1 Mineral resources in India 72 Contribution to the world 73 Product profile 144 Product and Uses 155 Manpower Strength 216 Canteen Facility 497 Medical and First Aid 518 Cleaning and Washing facility 539 Transportation facilities 5510 Housing Loans and Advances 5711 Educational Allowances 5912 Retirement Benefit 6113 Maternity Benefit 6314 Rest Facility 6515 Drinking water Facility 6716 Training Facilities 6917 Leave Benefits 7118 Lighting and Ventilation Facilities 7319 Safety Precautions 7520 Overall welfare activities 7721 Relationship between employee & employer 79
  9. 9. LIST OF FIGURESFigure No SubjectPageNumber1 Corporate Structure 22 Department Structure 193 Canteen Facility 504 Medical and First Aid 525 Cleaning and Washing facility 546 Transportation facilities 567 Housing Loans and Advances 588 Educational Allowances 609 Retirement Benefit 6210 Maternity Benefit 6411 Rest Facility 6612 Drinking water Facility 6813 Training Facilities 7014 Leave Benefits 7215 Lighting and Ventilation Facilities 7416 Safety Precautions 7617 Overall welfare activities 7818 Relationship between employee & employer 80