project on internship

1. Summer Training Report
On
The Effect Of
Employee Welfare
Completed In— Srf
Submitted In Partial Fulfillment
Of the Requirement
Of Masters of Business Administration
Corporate Mentor: Submitted By:
Name: Name of the student
Designation: ENRNo:
Organisation: Batch
Banarsidas Chandiwala Institute of Professional Studies, Dwarka, New Delhi

2. (Affiliated to Guru Gobind Singh Indraprastha University)
CERTIFICATE
This is to certify that the project work done on “--------Title----“ Submitted to Guru Gobind
Singh Indraprastha University, Delhi by --------Name of the student----- in partial
fulfillment of the requirement for the award of degree of Masters of Business
Administration, is a bonafide work carried out by him/her under my supervision and
guidance. The work was carried during --------to ----- in ……..Name of the organization.
During the training period his/her behavior & performance was satisfactory.
Date: Seal/Stamp of the Organization Name of the guide
Address:

3. DECLARATION
I hereby declare that this Project Report titled
__________________________________________ submitted by me to Banarsidas
Chandiwala Institute of Professional Studies, Dwarka is a bonafide work undertaken during
the period from _______to_________by me and has not been submitted to any other
University or Institution for the award of any degree diploma / certificate or published any
time before.
(Signature of the Student) Date: / / 2012
Name:
Enroll. No.:

4. BONAFIDE CERTIFICATE
This is to certify that as per best of my belief the project entitled “ (Title of the
Project) ” is the bonafide research work carried out by (Name of the Candidate) student of
BBA, BCIPS, Dwarka,New Delhi during June-July 2016, in partial fulfillment of the
requirements for the Summer Training Project of the Degree of Master of Business
Administration.
He / She has worked under my guidance.
--------------------
Name
Project Guide (Internal)
Date:
Counter signed by
-------------
Name
Director
Date:

5. EXECUTIVE SUMMARY
Employee welfare is a comprehensive term including various services, benefits and facilities
offered to employees & by the employers. Through such generous fringe benefits the
employer makes life worth living for employees.” Welfare includes anything that is done for
the comfort and improvement of employees and is provided over and above the wages.
Welfare helps in keeping the morale and motivation of the employees high so as to retain the
employees for longer duration. The welfare measures need not be in monetary terms only but
in any kind/forms. Employee welfare includes monitoring of working conditions, creation of
industrial harmony through infrastructure for health, industrial relations and insurance against
disease, accident and unemployment for the workers and their families.
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 very logic behind providing welfare schemes is to create efficient, healthy, loyal and
satisfied labor force for the organization. The purpose of providing such facilities is to make
their work life better and also to raise their standard of living. The important benefits of
welfare measures can be summarized as follows:
• They provide better physical and mental health to workers and thus promote a healthy work
environment.
• Facilities like housing schemes, medical benefits, and education and recreation facilities for
workers’ families help in raising their standards of living. This makes workers to pay more
attention towards work and thus increases their productivity.
• Employers get stable labor force by providing welfare facilities. Workers take active
interest in their jobs and work with a feeling of involvement and participation.
• Employee welfare measures increase the productivity of organization and promote healthy
industrial relations thereby maintaining industrial peace.
• The social evils prevalent among the labors such as substance abuse, etc are reduced to a
greater extent by the welfare policies.

6. CHAPTER 1
INTRODUCTION
Many studies contend that benefits are the most useful mean to attract, motivate and retain
employees. Companies offering attractive benefits packages have more buying power in the
job market. The available literature on employee welfare benefits suggest that people do not
work just for a wage or salary but expect more from employment. Companies offering more
voluntary benefits have better chance of attracting qualified people and retaining them. On
the other hand retention is key challenge in firms lacking such welfare benefits and where
work tends to get routine and there is no opportunity for personal growth and development.
The result would be high rate of employee turnover. Research reveals various reasons why
employees want to leave an organization. The most common one includes monotonous work
schedule, stress at workplace, lack of career growth, training and development opportunities
and nepotism etc. This Research focuses on employee welfare, its effect on employee
engagement.
What is Employee Welfare?
Employee welfare refers to anything that is done for the comfort and improvement of
employees and is provided other than wages or salary. Welfare programs help organizations
to motivate its employees and keep their morale high so as to retain them for longer duration.
Employee welfare refers to promotion of industrial harmony through infrastructure for health
insurance against diseases, accident and unemployment for the employees and their families.
Welfare includes all those activities by the employers directed toward providing employees
with certain facilities and services.
Why employers provide welfare benefits?
As discussed above People do not work for just a wage or salary. There is usually a whole
compensation package and this should be assembled primarily with motivational intentions.
Employer provides welfare benefits for different reasons some of the important reasons are,
one of the most important objective of employee welfare benefits is to motivate and retain
employee, second objective from employer point of view is to attract professional talent for
the firm, to provide incentives for high performance, some other objectives Include designing

7. a compensation system that is internally equitable among employees, to contain employee
benefit cost as much as
Feasible consistent with other compensation objectives and to meet union bargaining
demands in effective manner. All these objectives are aimed at promoting company profits
while enabling company to meet its social obligation to its employees.
What is employee engagement?
Employee engagement is a workplace approach resulting in the right conditions for all
members of an organisation to give of their best each day, committed to their organisation’s
goals and values, motivated to contribute to organisational success, with an enhanced sense
of their own well-being. Employee engagement is based on trust, integrity, two way
commitment and communication between an organisation and its members. It is an approach
that increases the chances of business success, contributing to organisational and individual
performance, productivity and well-being. It can be measured. It varies from poor to great. It
can be nurtured and dramatically increased; it can lose and thrown away.
How employee welfare effects on employee engagement?
Employee engagement is the level of commitment and involvement an employee has towards
his organization and its values. An engaged employee is aware of business context, and
works with colleagues to improve performance within the job for the benefit of the
organization. Thus it is a barometer that determines the association of a person with the
organization. Institute for Employment Studies defines employee engagement as “a positive
attitude held by the employee towards the organization and its values.”
Employees will feel engaged when they find motivation and personal meaning in their work,
get positive interpersonal support and also operate in a work environment that is efficient.
Employee engagement triggers increased job satisfaction and employee retention. It
maximizes workforce productivity. It is essential for meeting corporate sales and profitability
objectives.
The basic features of labour welfare measures are as follows:
 Labour welfare includes various facilities, services and amenities provided to workers
for improving their health, efficiency, economic betterment and social status.

8.  Welfare measures are in addition to regular wages and other economic benefits
available to workers due to legal provisions and collective bargaining.
 Labour welfare schemes are flexible and ever-changing. New welfare measures are
added to the existing ones from time to time.
 Welfare measures may be introduced by the employers, government, employees or by
any social or charitable agency.
 The purpose of labour welfare is to bring about the development of the whole
personality of the workers to make a better workforce.
The very logic behind providing welfare schemes is to create efficient, healthy, loyal and
satisfied labour force for the organization. The purpose of providing such facilities is to make
their work life better and also to raise their standard of living. The important benefits of
welfare measures can be summarized as follows:
 They provide better physical and mental health to workers and thus promote a healthy
work environment
 Facilities like housing schemes, medical benefits, and education and recreation
facilities for workers’ families help in raising their standards of living. This makes
workers to pay more attention towards work and thus increases their productivity.
 Employers get stable labour force by providing welfare facilities. Workers take active
interest in their jobs and work with a feeling of involvement and participation.
 Employee welfare measures increase the productivity of organization and promote
healthy industrial relations thereby maintaining industrial peace.
 The social evils prevalent among the labours such as substance abuse, etc are reduced
to a greater extent by the welfare policies.
Types of employee welfare
Organizations provide welfare facilities to their employees to keep their motivation levels
high. The employee welfare schemes can be classified into two categories viz. statutory and
non-statutory welfare schemes. The statutory schemes are those schemes that are compulsory
to provide by an organization as compliance to the laws governing employee health and
safety. These include provisions provided in industrial acts like Factories Act 1948, Dock
Workers Act (safety, health and welfare) 1986, Mines Act 1962. The non-statutory schemes
differ from organization to organization and from industry to industry.

9. Statutory welfare schemes:
Statutory schemes are those required by law and organizations must be provided in order to
meet statutory obligations. Employers are required to made provisions for Health and safety,
first Aid appliances, drinking water, latrines, canteens, lighting, washing places and changing
rooms etc. The most important of such statutory schemes are health and safety and first aid
facilities at workplace which are discussed below.
The statutory welfare schemes include the following provisions:
1. Drinking Water: At all the working places safe hygienic drinking water should be
provided.
2. Facilities for sitting: In every organization, especially factories, suitable seating
arrangements are to be provided.
3. First aid appliances: First aid appliances are to be provided and should be readily
assessable so that in case of any minor accident initial medication can be provided to
the needed employee.
4. Latrines and Urinals: A sufficient number of latrines and urinals are to be provided
in the office and factory premises and are also to be maintained in a neat and clean
condition.
5. Canteen facilities: Cafeteria or canteens are to be provided by the employer so as to
provide hygienic and nutritious food to the employees.
6. Spittoons: In every work place, such as ware houses, store places, in the dock area
and office premises spittoons are to be provided in convenient places and same are to
be maintained in a hygienic condition.
7. Lighting: Proper and sufficient lights are to be provided for employees so that they
can work safely during the night shifts.
8. Washing places: Adequate washing places such as bathrooms, wash basins with tap
and tap on the stand pipe are provided in the port area in the vicinity of the work
places.
9. Changing rooms: Adequate changing rooms are to be provided for workers to
change their cloth in the factory area and office premises. Adequate lockers are also
provided to the workers to keep their clothes and belongings.

10. 10. Rest rooms: Adequate numbers of restrooms are provided to the workers with
provisions of water supply, wash basins, toilets, bathrooms, etc.
Non statutory welfare benefits:
According to Armstrong & Mulis (1988) employee welfare benefits are forms of
remuneration provided in addition to cash pay. Such benefits provide a quantifiable value for
individual employees and may be contingent like a pension scheme, sick pay and insurance
cover. Such benefits also include elements which are not strictly remuneration such as annual
holidays. The objectives of such employee benefits policies and practice of an organization
might be, to increase commitment of the staff to the organizations, to provide for the actual
personal needs of the employees such as personal security, financial security, to demonstrate
that organization cares for the needs of its employees, to ensure that a competitive
compensation package is provide in order to attract and retain highly valuable staff and to
provide a method of remuneration which reduces tax liabilities. (Armstrong & Mulis.1988).
Non-Statutory Welfare activities given by SRF to its employees
 Flexi time
 Picnic
 Recognition awards
 Subsidized breakfast & lunch
 Bouquets, cards & gifts on birthday & anniversary
 ARC (Open house, Symphony, Protsahan, Diwali mela, Indoor games)
Advantages of Employee Welfare:
1. High efficiency:
The employee welfare schemes act as a morale booster. When the employees get an
appreciation for what they do, it helps in increasing the work efficiency of the employees.
When the work is done lauded by the organization, it proves lucrative to both the company as
well as the employees. If the work done by the employees is not appreciated, the output might
not come as expected. So, it is essential to have employee welfare schemes.

11. 2. Boost the morale of employees:
The employees work only when they are motivated to work. If the company wishes to get
100% output, then it is the company which has to put in little efforts to encourage the
employees. No one else would deliver the expected results. So, in order to boost the morale
of the employees, it is essential to offer employee welfare measures.
3. To build a competitive edge:
Competition is must if the company wants employees to work well. In order to form a
competitive environment in the office, it must provide employees with opportunities. The
competitive edge in the work environment can only help in getting the required work from
the employees. So, if the healthy work environment or the healthy competition is required
within the organization, it is vital to provide employees with welfare schemes.
4. To get timely result:
If the companies want the employees to give the result on time or deliver the work in time,
there needs to be some extra effort by the company so as to encourage the employees to give
timely work. This can be done only when the employees are encouraged apart from praising
their work and given some welfare schemes. If the extra work is expected from the
employees, they should also be given extra benefits by the company. Only then the timely
results could be expected by the company.
5. Improved industrial relations:
The employees when benefited, results in good industrial relations too. Not just the work
output is good, but also the amiable relations are built by the employees when encouraged
through various schemes. So, various employee schemes are essential to make employees
work in a better manner in the company.
6. Mental and moral health are also improved:
The employees when given different facilities at work; it improves their mental health as well
as helping in becoming a good citizen. So, it helps in overall development of the employee.

12. Employee development is equivalent to the development of the company. So, if the
companies want themselves to grow, they need to help employees in their growth.
7. Social benefits:
The employees also get various social benefits which are advantageous to the company also.
The social benefits increase the productivity, production as well as the work efficiency of the
employees. The good work by the employees also helps in increasing of the remuneration.
Finally, this helps in increasing the standard of the employees which is appreciated and
accepted by everyone, indeed.
8. Invites more employees:
The employee welfare schemes invite more employees within an organization. This is one of
the good ways of recruiting employees. If your company has less staff then these schemes are
enough to invite more employees within the company. More the employees, more will be the
vacancies filled and the work will be done in proper order. Ultimately, it will benefit the
company only. The work will be executed in the proper order so, for this reason it is essential
to initiate various employee welfare activities schemes in the company.
9. Urge to do better:
The benefits to the employees urges the other employees to work better. It creates a
competitive edge and helps in the growth of the employees. The employees who get such
schemes makes the other employees to perform better which creates a competitive
environment in the organization.
10. Helps in overall growth of the employee:
The schemes are a motivating factor to the employees and it helps in the overall growth of the
employees. Both the common organizational goal and the personal goals are easily achieved
by the employees, which benefits not just the company but also the members working in the
company.

13. 11. Retains more employees for more time period:
The companies train employees so as to get good results. But if the employees leave the
company early, it affects not just the employees but also the company. So, the company has
to get some schemes to retain the employees for a longer time period and that is only possible
with the employee welfare programs. The employees would not even think of leaving the
company if they will get the required share of appreciation. So, it is better to give employees
the welfare schemes.
12. Employees work harder:
The employees would certainly work hard if they are given extra benefits. Benefits are never
refused by anyone but appreciated by all. So, the employees work harder when given the
great deal to work for. Salaries are the obvious thing to get but when given something extra,
the employees work harder.
So, above are some of the advantages of the employee welfare schemes. The benefits of
employee welfare measures are more, direct to the employees than the company. However, it
is important for the company to generate various employee welfare schemes. For every
company to retain the employees, it has to bring forward various schemes.
Disadvantages of Employee Welfare:
As every coin has two sides, similarly the employee welfare too has its advantages and
disadvantages. Some of the disadvantages of employee welfare are as follows:
1. The welfare schemes become the driving force to work:
Neither the money nor the schemes should be the driving force to work for the employees.
The employees must be motivated through the work done by others. A competitive
environment should be the driving force for the employees to work. Only then, the expected
work can be delivered by the employees.

14. 2. The Financial burden for the company:
The company gets burdened financially as more the employees, more the budget will be
required by the company to equally distribute the schemes among the employees working
within an organization. So, in order to equally distribute the schemes among the employees, it
is essential for the company to have proper a financial budget in order to provide employees
with the required schemes.
3. To maintain a competitive edge in the market:
In order to remain in the market and to keep oneself in the edge, it is essential to keep good
employee welfare policy so as to attract maximum skilled employees within the organization.
Every company needs skilled workers to work so that they get better output. In order to do
the same, the company will have to have an edge over the welfare schemes too.
4. Outshines all the old schemes of the company:
All the other schemes of the companies get outdated. Other here means the older schemes,
does not exist anywhere. When the other competitive companies give the employees great
and newly developed schemes, the present schemes seems a big failure due to which the other
companies has to get the similar beneficial schemes. So, this kind of burden also kills the
companies at large.
5. Fear of employees leaving the organization:
If the company fails to provide the employees with great schemes, the employees may choose
to leave the organization. So, to prevent the employees running out, the company needs to
bring novel schemes and services for the employees.
6. Increases the budget of the company:
The employee welfare schemes increase the budget of the company which affects the
company financially. The inclusion of the new schemes can upset the whole budget of the
company which ultimately affects the whole working of the company. This is because, it is
not necessary that the company will always have extra finances to cope up emergencies. So,
the employee welfare facilities are a great disadvantage for the employees themselves.

15. 7. Employees may even leave the organization:
When the competitive organizations give better welfare schemes, the employees may choose
to reach the organization giving better opportunities. This way the employees may even leave
the company and move to the next. This also forms one of the disadvantages of the company
as well as the employees on the whole. So, for this purpose, the company will have to keep
great welfare schemes for the employees.
These are some of the disadvantages of having an employee welfare objectives. The schemes,
however, helps the employees more than the companies. This is because whatever is the
scheme bought by the company, has to be funded by the company itself. So, this is the reason
why the employee welfare schemes are a great disadvantage too.

16. CHAPTER 2
COMPANY PROFILE
SRF Limited
We always find a better way
At SRF, we stand committed to improving
the quality of life through our wide range
of products and services. Pursuing our
passion we have adopted 'continuous
improvement' as a motto which shapes
our plans and actions. Today, anchored by
our strong workforce of around 6300 of
different nationalities working in 11
manufacturing plants in India, 2 in
Thailand and 2 in South Africa, we
continue to cater to customers spread over
75 countries.
With a turnover of around Rs. 4600 crore (US $ 700 Million), we are the market leaders in
most of our businesses in India and also enjoy significant global presence in some of our
businesses.
As a winner of the prestigious Deming Prize - a gold standard in Total Quality - for two of
our businesses namely Tyre Cord Business in 2004 and Chemicals Business in 2012, we were
included in the Forbes’ Best under a Billion List in 2011. Besides, we have been the five time
winners of the CII Sustainability Awards in several categories beginning 2008.
As a firm believer of inclusive growth, we through our social wing, SRF Foundation continue
to strive towards making meaningful contributions to our community on a sustainable basis.
SRF (or the Group) is a diversified Indian business conglomerate with three lines of business
spread across two companies, SRF Ltd and SRF Polymers. SRF Ltd has two principle lines of

17. business, namely tire cord and related products and chemicals, primarily refrigerant gases.
SRF Polymers makes PET film and plastic products. The proposed project is a capital
investment program with three components: expansion of the group’s production capacity of
PET (polyester) film; backward integration of the Group’s tire cord production in India and
diversification of the Group’s chemical business into active pharmaceutical ingredients
(APIs) and new generation refrigerant gases.
SRF is a long established Indian business group which entered into its core business of tire
cord manufacturing in 1974. The controlling shareholders are Mr. Arun Bharat Ram and
family who own 32% of the outstanding shares of SRF Limited. SRF Limited is a listed
company with 32% of shares held by the Indian public. Approximately 30% shares are held
by Indian financial institutions and the balance of shares are held by offshore investors.
SRF Ltd, a leading industrial group, manufactures Technical Textiles, Fluorochemicals,
Packaging Films and Fluoro Specialities. Commencing operations in 1974, SRF today
operates from eight plant locations in India and abroad and has attained market leadership
position in Nylon Tyre Cord Fabric (3rd largest manufacturer of Nylon6 tyre cord in the
world & approx 36 per cent market share in India), Belting Fabrics (3rd largest in the world
& approx 60 per cent market share in India), Refrigerant Gases (approx 40 per cent market
share in India) and Chloromethane. Currently, SRF’s products cater to industrial customers in
more than 60 countries globally. SRF’s relentless focus on TQM techniques has resulted in
the company winning the prestigious Deming Application Prize in 2004 for the erstwhile
Industrial Synthetics Business of SRF (now integrated with Technical Textiles business), the
first nylon tyre cord company outside Japan to be awarded this prize.

18. History
SRF began as Shri Ram Fibres in 1970 when its parent company DCM decided to set up a
separate entity to manufacture nylon tyre cord fibres. Its formation was a result of the
foresight that nylon was the future material for tyre cord fibres.
The company established its first plant in Manali near Chennai in 1973. With an initial annual
capacity of 2000 tonnes of nylon cords, the plant started operations in 1974. Shri Ram Fibres
thus became one of the first companies in India to start manufacturing nylon tyre cords. Over
the years, the company expanded its product line in technical textiles and also diversified into
other businesses like Chemicals, Packaging Films and Engineering Plastics. The company
was no longer manufacturing fibres alone, a fact that necessitated the change in the name of
the company. Shri Ram Fibres thus became SRF in 1990.
The company established its first plant in Manali near Chennai in 1973. With an initial annual
capacity of 2000 tonnes of nylon cords, the plant started operations in 1974. Shri Ram Fibres
thus became one of the first companies in India to start manufacturing nylon tyre cords. Over
the years, the company expanded its product line in technical textiles and also diversified into
other businesses like Chemicals, Packaging Films and Engineering Plastics. The company
was no longer manufacturing fibres alone, a fact that necessitated the change in the name of
the company. Shri Ram Fibres thus became SRF in 1990.
Over the years SRF has grown and diversified into a multi-business entity achieving global
leadership for most of its products.
ACQUISITIONS
SRF during this quarter signed two separate definitive agreements for overseas acquisitions.
First agreement pertains to the acquisition of Thai Baroda Industries Limited (TBIL), a
Thailand-based tyre cord company at a total investment of Rs. 100 crore and the second one
for the acquisition of the belting fabrics business of Industex Technical Textiles (Pty)
Limited, a South African company at a total investment of Rs. 20 crore.
While the acquisition of Thai plant will enable SRF to emerge as the third largest tyre cord
fabric manufacturer in Asia and fifth largest in the world, the acquisition of South African
plant will improve SRF’s world ranking from the 3rd largest player to 2nd largest player in
the arena of Belting Fabrics Business.
.

19. SWOT ANALYSIS
This SWOT Analysis of SRF Limited provides a strategic SWOT analysis of the company's
businesses and operations. This SWOT analysis shows strengths, weaknesses, opportunities
and threats. This SWOT analysis of SRF Limited can provide a competitive advantage.
Strengths
-Domestic market
-Barriers of market entry
-Monetary assistance provided
Weaknesses
-Small business units
Opportunities
-New markets
-New products and services
-Venture capital
-New acquisitions
-Growth rates and profitability
Threats
-Increasing costs
-Financial capacity
-Technological problems

20. CHAPTER 3
LITRATURE REVIEW
Employee welfare defines as “efforts to make life worth living for workmen”. These efforts
have their origin either in some statute formed by the state or in some local custom or in
collective agreement or in the employer’s own initiative.
 To give expression to philanthropic and paternalistic feelings.
 To win over employee’s loyalty and increase their morale.
 To combat trade unionism and socialist ideas.
 To build up stable labour force, to reduce labour turnover and absenteeism.
 To develop efficiency and productivity among workers.
 To save oneself from heavy taxes on surplus profits.
 To earn goodwill and enhance public image.
 To reduce the threat of further government intervention.
 To make recruitment more effective (because these benefits add to job appeal).
 Direct Evidence on Income Comparisons and their Welfare Effects
Claudia Senik Paris School of Economics
In this work it is explained that how the employee welfare has effected the income status of
the employees. The effect of the welfare programmes indicated the achievement of the
employee’s goals and satisfied them leading to the change in their income status positively.
 Identifying Welfare Effects from Subjective Questions
Martin Ravallion and Michael Lokshin
We argue that the welfare inferences drawn from answers to subjective-qualitative survey
questions are clouded by concerns over the structure of measurement errors and how
latent psychological factors influence observed respondent characteristics. We propose a
panel data model that allows more robust tests and we estimate the model on a high-
quality survey for Russia. We find significant income effects on an individual’s

21. subjective economic welfare. Demographic effects are weak at given income per capita.
Ill-health and becoming unemployed lower welfare at given current income, although the
unemployment effect is not robust, and returning to work does not restore welfare without
an income gain.
 Binoyjoseph,josephinjodey (2009), studies in the article points out that, the
structure ofwelfare states rests on a social security fabric. Government, employers,
trade unions have done a lot to promote the betterment of workers conditions.
 David, A Decenzo (2001) and Stephen P. Robbinsin their book, “Personnel /
Human Resource Management explained the various benefits and services
provided by the companies to their employees. According to them, the legally
required benefits and services include social security premiums, unemployment
compensation, workers compensation and state disability programs. They felt that
the cost of the voluntary benefits offered appears to be increasing.
 Michael (2001) in his book, “Human Resource Management and Human
Relations” said that the provision of intra-mural and extra-mural welfare facilities
help in improving the quality of work life of employee’s thereby good human
relations will develop among different cadres of employees.
 *Punekar, Deodhar and Sankaran (2004) in their book, “Labor Welfare, Trade
Unionism and Industrial Relations” stated that labor welfare is anything done for
the comfort and improvement, intellectual and social-well being of the employees
over and above the wages paid which is not a necessity of the industry.
 *Aswathappa (2010) in his book, “Human Resource Management “discussed the
various types of benefits and services provided to employee’s in terms of payment
for time not worked, insurance benefits, compensation benefits, pension plans etc.
He also discussed the ways to administer the benefits and services in a better way.

22. CHAPTER 4
OBJECTIVE OF THE STUDY & SCOPE OF THE STUDY
4.1 OBJECTIVE OF THE STUDY
 To know the effectiveness of employee welfare on employee engagement.
 What suggestive measures must be taken regarding welfare?
 To study the satisfaction level of employees with respect to their welfare in SRF Ltd.
 To know the working condition and what are things that affect them to work properly.
 To find out the suggestions.
4.2 SCOPE OF THE STUDY
SRF Ltd. is an Indian MNC which has 11 manufacturing plants in India, 2 in South Africa &
2 in Thailand. As I am working in SRF which is situated in Gurgaon. So the scope of the
project is limited to SRF Gurgaon only.
The number of employees in this office is 256 approx. Out of which, I could contact only
officers.
 This project has been undertaken to find out effectiveness of employee welfare in
SRF Ltd.
 To find out practical difficulties involved in welfare measures that can be evaluated
through this project.
 The project can be used to bring out the solution for the problem faced by the
employees availing the welfare measures.
 To know the satisfaction level of employees on welfare measures.

23. CHAPTER 5
RESEARCH METHODOLOGY
5.1 Population
Sr. no. Respondent Number of respondents
1. Users 100
5.2 Sampling Method/Technique /Sample size, sampling
frame/unit ,
Different types of data analysis techniques used in the research project should
be specifically mentioned. Such as:
 Basic analytical tools, which include Tabular Analysis, Graphical
Analysis, Percentage Analysis.
3.2.3 Sample procedure:-
I have prepared this project as descriptive type, as the objective of the study.
5.3 Sources of data
It involves use of secondary and primary sources such as web and other research articles
printed by various companies and other journals and magazine.
5.4 Methods of data collection
Primary data:
It is original data, first hand and for the specific purpose of the research
project. For this project, I have used the following common research instrument:-
 Questionnaire:
Questionnaire development is the critical part of primary data collection
job. For this I have prepared a questionnaire in such away that it is able to collect all
relevant information regarding the project.

24. In this questionnaire, I have used mostly close-ended questions that are
easier to be answered by respondents (consumers) and also easier for interpretation
and tabulation & one open-ended question to take the opinion of the respondents in
their own words. The questions were asked to the consumers covering perception
towards their purchase, price of the product, purpose for using the product,
characteristic of the product, brand image, effectiveness of the advertisements, sales
promotional activities, overall opinion about the product, etc.
For collecting the answers from the above questionnaire, I have used the
following common method:-
 Interview:
It is the most common method for contacting consumers & collecting
primary data. For this project I have used following type of interview:-
 Personal interview:
It is the most extensively used method. It enables better control of the
sample and ensures answers from the respondents. It also provides for a tactful
approach to the respondent since it is based on a person-to-person talk. But this
method is generally more expensive and time consuming.
For this project each interview was taking 15 to 20 minutes to complete.
Interview was also delayed due to un-availability of respondent in house.
Secondary data.
It was collected to add the value to the primary data. Data regarding IMRB,
International (Indian Marketing Research Bureau) history, its profile and other
necessary records and information was collected by referring to website, magazines,
annual reports, reference books, daily newspapers, etc.
5.5 Tools and techniques of analysis E.g Ratio Analysis
Basic analytical tools, which include Tabular Analysis, Graphical Analysis, Percentage
Analysis.
5.6 Statistical/ Instrument used E.g Ms. Excel, SPSS etc
 Excel

25. CHAPTER 6
DATA ANALYSIS
1. I receive bouquet and card on my birthday and anniversary.
INTERPRETATION:-Accordingto employee all of them has agreed that they have received bouquet
and card on Birthday and Anniversary.
2. I receive bouquet and card on my birthday and anniversary.
INTERPRETATION:-According to employee whenever the picnic is organized by SRF their family
members were also invited .
Strongly Agree,
100%
Agree, 0%
Disagree, 0%
Strongly
Disagree, 0%
Strongly Agree
Agree
Disagree
Strongly Disagree
Strongly Agree,
100%
Strongly Agree
Agree
Disagree
Strongly Disagree
Strongly Agree 100%
Agree 0
Disagree 0
StronglyDisagree 0
Strongly Agree 100%
Agree 0
Disagree 0
StronglyDisagree 0

26. 3. The transport facility provided by the organization is very comfortable to commute.
INTERPRETATION:-As per the survey the 97 % of SRF employee are satisfied and
strongly agree with the transportation services which they get from the company ,where
as 3 % are not agree due to some facilities and maintenance issues .
11. I am adequately recognized for my contributions and accomplishments.
Strongly Agree 8%
Agree 63%
Strongly Disagree 24%
Disagree 6%
Strongly Agree,
11%
Agree, 86%
Disagree, 3%
Strongly Disagree,…
Strongly Agree
Agree
Disagree
Strongly Disagree
Strongly Agree 100%
Agree 0
Disagree 0
StronglyDisagree 0

27. Interpretation:-As per survey I have found that 71 % of people has agreed that they are being
recognized time to time for their hard work whereas rest has not agreeing.
12. I am happy with the way that the performance management process (DD) is run
at SRF.
Strongly Agree 4%
Agree 68%
Strongly Disagree 22%
Disagree 7%
Interpretation: -As per survey I have found that 72 % are happy with the company’s performance
management system and process.
13. I am happy with the canteen facility. (Like subsidized breakfast, lunch & snacks)
Strongly Agree, 8%
Agree, 63%
Disagree, 24%
Strongly Disagree,
6%
I am adequately recognized for my contributions and
accomplishments
Strongly Agree
Agree
Disagree
Strongly Disagree
Strongly Agree, 4%
Agree, 68%
Disagree, 21%
Strongly Disagree,
7%
I am happy with the way that the performance
management process (DD) is run at SRF
Strongly Agree
Agree
Disagree
Strongly Disagree

28. Strongly Agree 76%
Agree 17%
Strongly Disagree 7%
Disagree 0%
Interpretation: -As per survey I have found that 93 % are strongly agree that that the facility
which they are getting in canteen during off time is awesome.
14. I feel our People Policies adequately meet employee requirements/needs. (Polices
like transport, leave, praise, recognition, etc.)
Strongly Agree 10%
Agree 78%
Strongly Disagree 10%
Disagree 3%
Strongly Agree, 76%
Agree, 17%
Disagree, 7%
Strongly Disagree, 0%
I am happy with the canteen facility. [Like subsidized
breakfast, lunch & snacks]
Strongly Agree
Agree
Disagree
Strongly Disagree

29. Interpretation: -As per employees opinion I have found that 88 % of the SRF employee
has suggest that the companies policies are up to the mark where as 12 % are not happy with the
companies policies .
15. I have adequate resources required to do my job well. (Resources like stationery,
pool laptops, meeting rooms, printers, etc.
Strongly Agree 14%
Agree 71%
Strongly Disagree 13%
Disagree 3%
Interpretation: - 85 % people has suggested that they get all required assets to work properly
where as 15 % has suggest they required more as sometimes they do not get proper solution .
Strongly Agree,
10%
Agree, 78%
Disagree, 10%
Strongly Disagree,
3%
I feel our people policies adequately meet employee
requirements/needs. (Policies like transport, leave,
praise, recognition, etc.)
Strongly Agree
Agree
Disagree
Strongly Disagree
Strongly Agree,
14%
Agree, 71%
Disagree, 13%
Strongly Disagree,
3%
I have adequate resources required to do my job well.
(Resources like stationery, pool laptops, meeting
rooms, printers, etc.)
Strongly Agree
Agree
Disagree
Strongly Disagree

30. 16. The welfare activities help in reducing my stress level.
Strongly Agree 7%
Agree 42%
Strongly Disagree 40%
Disagree 11%
Interpretation: - 49 % people has suggest that company are involved in so many activities to
reduce the stress level and they are getting benefited while participating in such activities .where as
51 % has suggested companies should organize more activities to reduce stress level .
17. I enjoy doing my work.
Strongly Agree 39%
Agree 53%
Strongly Disagree 7%
Disagree 1%
Strongly Agree, 7%
Agree, 42%
Disagree, 40%
Strongly Disagree,
11%
The welfare activities help in reducing my stress
level
Strongly Agree
Agree
Disagree
Strongly Disagree

31. Interpretation: - 92 % people enjoy work environment at SRF where as 8 % fell little stress due to
work load.
18. There is a balance between my personal and work life.
Strongly Agree 13%
Agree 72%
Strongly Disagree 13%
Disagree 3%
Interpretation: -85 % people are satisfied with their work life balance where as 16 % has not
agreed with this as he didn’t get much time for their family and relatives.
Strongly Agree,
39%
Agree, 53%
Disagree, 7%
Strongly Disagree, 1%
I enjoy doing my work
Strongly Agree
Agree
Disagree
Strongly Disagree
Strongly Agree, 13%
Agree, 72%
Disagree, 13%
Strongly Disagree, 3%
There is a balance between my personal and work life
Strongly Agree
Agree
Disagree
Strongly Disagree

32. 19. The welfare benefits provided by the organization play a motivational factor for
me.
Strongly Agree 83%
Agree 17%
Strongly Disagree 0%
Disagree 0%
Interpretation: - Motivation plays a major role for any company as per the survey I have found that
SRF’s employee are actually a motivated due to employee welfare activities.
20. Overall, I am happy to work with SRF.
Strongly Agree 24%
Agree 69%
Strongly Disagree 6%
Disagree 1%
Strongly Agree, 83%
Agree, 17%
Disagree, 0%Strongly Disagree, 0%
The welfare benefits provided by the organization play a
motivational factor for me.
Strongly Agree
Agree
Disagree
Strongly Disagree

33. Interpretation: - 93 % employee are happy to work with SRF.
CHAPTER 7
FINDING, CONCLUSIONS, AND SUGGESTIONS
Strongly Agree,
24%
Agree, 69%
Disagree, 6%
Strongly Disagree,
1%
Overall, I am happy to work with SRF
Strongly Agree
Agree
Disagree
Strongly Disagree

34. FINDING
Today, the HR fraternity is facing new challenges everyday, finding new solutions and
undergoing significant changes. The modern HR has revolutionized the employer-employee
relationship. The organizations and HR experts have realized that no organization can be
successful without the success of its employees. According to various HR experts and
professionals, one of the prime reasons of present high attrition rates in all the sectors is the
rising and unsatisfied aspirations of the employees. And also to retain the employees who
have given the organization the committed years and are still a part of the organization. To
look at them from a perspective that their needs and aspirations are different from the
employees who are of the younger age bracket. These employees’ are more family oriented
and they want their future to be secured and also their children to be in better phase of life.
As an individual, every employee has a will to succeed, has some goals and needs in every
aspect of his life. The majority of today's workforce is young, savvy, knowledgeable, mobile
and ready to cover the extra mile for their careers. So most of the welfare programmes in an
industry is targeted for the young workforce. But the SRF GROUP has a mixed age group of
employees with equal proportions. So it becomes very important for the HR of this
organization to design welfare programmes keeping in mind this factor so that a section of
the employees do not feel left out or neglected. The employees are high on aspirations, goals
and ambitions; they know what exactly they want. Employees have also become conscious
and demanding than ever before.
Facing the brunt of the high attrition rates and instability of the workforce, dissatisfaction
leading to frustrations, HR fraternity has been forced to look beyond the traditional ways and
tools of motivating employees and performance management. The modern HR management
is making an effort to identify and manage the aspirations of the employees, so that
performers don't move on to the greener pastures (other companies) at the other side of the
fence. Managing employee aspirations and expectations has emerged as the latest tool for the
retention of the employees in this competitive environment.
CONCLUSION

35. Basically, an employee's aspirations can range from career aspirations i.e. the
responsibilities, authority and position, to the economic aspirations in terms of the money or
the compensation involved. But, an important issue or point which cannot be neglected in this
regard is aspirations differ from person to person according to age, position, social status etc.
what we have considered for our project and given importance is the age factor and the
position of the employees to understand the aspirations in the age bracket of 40 yrs and above
and employees holding a position of RL 8-11. Today employees want to move up the ladder
of success very fast. But where some people long for the vertical growth, some strive for the
lateral growth. This is justified in terms of employees who hold higher responsibility level
such as RL 4-7. The worst effected are the employees at the junior level i.e. RL 8-11, where
the employee aspiration levels are at all-time high but the jobs have rather very low scope of
growth.
No employee wants to limit his/her growth and learning. Employee dissatisfaction leads to
poor performance, low productivity and eventually high attrition rates. Therefore, the
organization should take care of the employee's aspirations to retain and making them a part
of the organization. People leave an organization when there is a disparity between the
employee's desired career path and the path provided by the organization. There needs to be a
match and an alignment between the above basically when the difference in the age brackets
and the Responsibility levels are huge. The employees want to feel needed, important, and
contribute towards the successful working of the organization and want to go back home with
a sense of accomplishment and satisfaction. "Employee aspirations and organization" is a
sensitive and complicated issue, and definitely not without the frills. One of the most
practical problems faced by the organization is the fact that many-a-times the employee
aspirations fluctuate or increase at the most opportune or suitable time. Technically speaking,
understanding employee aspirations is not an easy task. Employee satisfaction, employee
engagement, employee expectations and employee aspirations are all inter-related. That’s
why we had to keep all these issues in mind while making our project and while conducting
our research as we were asking them questions which were very personal and therefore we
faced objections many a times as they didn’t want to share any such information. They even
had thoughts that the management might misuse them and that this information wouldn’t be
used to help them in anyways. So these were some of the challenges and hurdles that we
overcame during the interviewing process.
RECOMMENDATION

36. The organization needs to identify the stabilizing factor of its employees. Identifying
employee's core competencies and making them do what they actually want to and enjoy
doing. The main aim of this project is to help these employees non-financially by providing
them with information and counseling relating to their children’s career, their health and
future investment and also with their retirement plans so they can have a better life ahead. In
fact, the organization can actually make the employees aware of his self aspirations and help
them to shape their aspiration by providing them the right information required and at the
right time where they can fulfill them. Employee aspirations can take them places and can
also create severe problems for the organizations. Therefore, organizations have the challenge
of conjoining its goals with the employee aspirations, and developing programs and helping
them in a non financial way which will help them in fulfilling these aspirations so that the
organization is able to successfully overcome the problems of high attrition rate and
attracting and retaining the best performers. This can be done by undertaking certain welfare
programs such as providing counseling to both the employees and their children and helping
them choose better careers, providing them the necessary information for the careers that they
have chosen or they want to choose. They can also be provided information regarding the
investment plans in property, educational loans for their children by arranging sessions with
financial consultants of different companies. And programs can also be designed keeping in
mind the health and medical requirements of the employees and providing them the
information required for the necessary treatments. The organization can take care of its
employee's aspirations in various ways, and by doing so it tells its employees that it cares for
them and is committed to their growth and welfare. A company can go a long way in
understanding their aspirations, needs and requirements, and provide them opportunities
within the organization to grow.
CHAPTER 8

37. LIMITATIONS
 Difficulty in fill up of questionnaire.
 Some responses are not filled up with sincerity
 Time constraints are another limiting factor. The time available for the study was very limited.
 Some responses may be not correct due to disclose of their responses.
 The study covers a few aspects of employee welfare since it is a wide topic to conduct a complete study
within the limited parameters.
 The short of 6 weeks’ time is not sufficient enough to conduct a study of employee
welfare a vast area.
 Limitations with regards to availability & accessibility of various sources of the
secondary data.
 Instead of consumer or complete enumeration, due sampling was adopted for data
collection purposes with adequate care for the accuracy of the data.
Bibliography, Glossary

38. Books:
 Kelly D, 2001, Dual Perceptions of HRD: Issues for Policy: SME’s, Other
Constituencies, and the Contested Definitions of Human Resource Development,
http://ro.uow.edu.au/artspapers/26
 Nadler L Ed., 1984, The Handbook of Human resources Development, John Wiley and
Sons, New York.
 Elwood F. Holton II, James W. Trott, Jr., 1996, Trends Toward a Closer Integration of
Vocational Education and Human Resources Development, Journal of Vocational and
Technical Education, Vol. 12, No. 2, p7
 Kelly D, 2001, Dual Perceptions of HRD: Issues for Policy: SME’s, Other
Constituencies, and the Contested Definitions of Human Resource Development,
http://ro.uow.edu.au/artspapers/26
 Elwood F. Holton II, James W. Trott, Jr., 1996, Trends Toward a Closer Integration of
Vocational Education and Human Resources Development, Journal of Vocational and
Technical Education, Vol. 12, No. 2, p7.
Annexure

39. APPENDIX
1. I am satisfied with the benefits (Health insurance, life insurance,etc.) I get from the
bank
A DA UD SA SDA
2. I feel that my job is secured one.
A DA UD SA SDA
3. My job does not create any physical aliments.
A DA UD SA SDA
4. There is a clear and effective system of appraisal and career development
A DA UD SA SDA
5. I would recommend my organization to others as a great place to work.
A DA UD SA SDA
6. I feel like continuing to work in my organization for the foreseeable future.
A DA UD SA SDA
7. I think there are some barriers that need to be eliminated to maximize my performance.

40. A DA UD SA SDA
8. I feel my performance is truly contributing to the well being of the organization.
A DA UD SA SDA
9. I feel adequate opportunity for periodic changes in duties.
A DA UD SA SDA
10. I can make changes to the tasks assigned to me.
A DA UD SA SDA
11. I can use my own initiative to complete tasks that are not formally required as a
part of my job.
A DA UD SA SDA
12. I am allowed to identify a variety of alternative solutions to organizational issues
and problems.
A DA UD SA SDA
13. I think my knowledge, skills and abilities are matching job’s requirement.
A DA UD SA SDA
14. I feel satisfied with the hours worked each week
A DA UD SA SDA

41. 15. I feel Flexibility in my scheduling.
A DA UD SA SDA